Public Storage
PSA Real Estate Reit Industrial
Public Storage’s revenue for fiscal 2025 (year ended December 2025) was $4.8 billion, up 2.74% from fiscal 2024. In the quarter to June 2026, revenue grew 2.65%, EPS grew 45.5%, free cash flow was flat and total debt fell 2.49%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for ten.
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Public Storage (PSA) Operating margin
Public Storage's operating margin over the twelve months to 30 June 2026 was 45.3%, down 1.1 percentage points from fiscal 2025 (46.4%). Over the past ten years it has ranged from 46.4% (fiscal 2025) to 53.7% (fiscal 2016) — the current reading is the lowest in ten years. That is above the Reit Industrial industry median of 39.9% and above the Real Estate sector median of 18.8%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 46.4% | (0.20) |
| FY2024 | 46.6% | (4.20) |
| FY2023 | 50.8% | (0.44) |
| FY2022 | 51.2% | 1.63 |
| FY2021 | 49.6% | 1.15 |
| FY2020 | 48.4% | (2.97) |
| FY2019 | 51.4% | 0.14 |
| FY2018 | 51.2% | (2.09) |
| FY2017 | 53.3% | (0.35) |
| FY2016 | 53.7% | 1.95 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 37.9% | (1.10) |
| Mar 2026 | 39.0% | (18.70) |
| Dec 2025 | 57.7% | 10.98 |
| Sep 2025 | 46.7% | 5.04 |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| PLD Prologis, Inc. compare | 54.8% |
| PSA Public Storage | 45.3% |
| FR First Industrial Realty Trust, Inc. compare | 41.6% |
| TRNO Terreno Realty Corporation compare | 41.4% |
| EXR Extra Space Storage Inc compare | 40.9% |
| EGP EastGroup Properties, Inc. compare | 40.5% |
| CUBE CubeSmart compare | 39.9% |
| REXR Rexford Industrial Realty, Inc. compare | 39.3% |
| LINE Lineage, Inc. compare | 3.57% |
| Reit Industrial industry median | 39.9% |
| Real Estate sector median | 18.8% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on PSA
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement