Friday 6 November 2026 Export PSA’s income statement to Excel — free account

Public Storage

Public Storage’s revenue for fiscal 2025 (year ended December 2025) was $4.8 billion, up 2.74% from fiscal 2024.

Revenue: +11.6%
EPS: −21.9%
Free cash flow: −19.3%
Total debt: +21.4%

Quarter to September 2026, against a year earlier

339.50 1.00 −0.29%

Follow PSA

Alert me

Market cap: $63.6B
P/E: 34.1×
Fwd P/E: 34.1×
Dividend yield: 3.54%
F-score: 4/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Public Storage (PSA) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Self-storage facilities	4,489	93.06%
Ancillary operations	335	6.94%
Gross margin		72.85%
Operating margin		46.35%
Pre-tax margin		37.10%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Self-storage facilities	4,489 93.06%	4,396 93.62%	4,260 94.29%	3,946 94.35%	3,204 93.79%	2,722 93.36%	2,685 94.03%	2,598 94.13%	2,512 94.15%	2,406 93.96%
Ancillary operations	335 6.94%	300 6.38%	258 5.71%	236 5.65%	212 6.21%	193 6.64%	171 5.97%	162 5.87%	156 5.85%	155 6.04%
Revenue	4,824	4,696	4,518	4,182	3,416	2,915	2,855	2,760	2,669	2,561

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Self-storage facilities	4,489 93.06%	4,396 93.62%	4,260 94.29%	3,946 94.35%	3,204 93.79%	2,722 93.36%	2,685 94.03%	2,598 94.13%	2,512 94.15%	2,406 93.96%	2,236 93.86%	2,050 94.15%	1,850 94.14%	1,719 93.29%	1,622 93.43%	1,509 93.53%	1,486 91.53%
Ancillary operations	335 6.94%	300 6.38%	258 5.71%	236 5.65%	212 6.21%	193 6.64%	171 5.97%	162 5.87%	156 5.85%	155 6.04%	146 6.14%	127 5.85%	115 5.86%	—	—	—	—
Other Items Not Allocated To Segments	—	—	—	—	—	—	—	—	—	—	—	—	—	110 5.95%	99 5.73%	90 5.58%	98 6.01%
Commercial	—	—	—	—	—	—	—	—	—	—	—	—	—	14 0.76%	15 0.84%	14 0.88%	15 0.92%
Europe Self Storage	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	25 1.53%
Revenue	4,824	4,696	4,518	4,182	3,416	2,915	2,855	2,760	2,669	2,561	2,382	2,177	1,965	1,843	1,736	1,614	1,623

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Self-storage facilities	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Ancillary operations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other Items Not Allocated To Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Commercial	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Acquired net rentable square feet	Q3 FY2026	1.7M	3.4M	−50.00%
Acquired self-storage facilities	Q3 FY2026	25.00	49.00	−48.98%
Development and expansion net rentable square feet added	Q1 FY2026	300.0K	—	—
Development and expansion pipeline net rentable square feet	Q2 FY2026	4.0M	3.8M	+5.26%
FFO a share	Q3 FY2026	$3.81	$4.33	−12.01%
Net rentable square feet	Q3 FY2026	339.0M	254.0M	+33.46%
Non-Same Store facilities	Q3 FY2026	1.0K	—	—
Same Store Facilities	Q3 FY2026	2.8K	2.6K	+7.41%
Same Store Facilities net rentable square feet	Q3 FY2026	192.1M	175.3M	+9.58%
Self-storage facilities	Q3 FY2026	4.8K	3.5K	+36.47%
Square foot occupancy	Q3 FY2026	90.4%	—	—
Square foot occupancy	Q3 FY2026	92.2%	—	—
Third-party managed facilities	Q3 FY2026	493.00	—	—
Third-party managed net rentable square feet	Q3 FY2026	35.4M	—	—
Third-party management facilities added	Q3 FY2026	31.00	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Acquired net rentable square feet	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Acquired self-storage facilities	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Development and expansion net rentable square feet added	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Development and expansion pipeline net rentable square feet	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
FFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net rentable square feet	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non-Same Store facilities	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Same Store Facilities	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Same Store Facilities net rentable square feet	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Self-storage facilities	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Square foot occupancy	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Square foot occupancy	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Third-party managed facilities	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Third-party managed net rentable square feet	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Third-party management facilities added	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.