Saturday 17 October 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. 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.

298.27 2.94 +1.00%

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Market cap: $55.2B
P/E: 28.4×
Fwd P/E: 30.0×
Dividend yield: 4.02%
F-score: 4/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 0.77

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	1	—	1	—	—

Insider Ownership 3.85%

Capital & Financial Ratios $m

Market Cap 55,180.00

Revenue 4,890.46

Net Income 2,057.14

Free Cash Flow 2,580.01

Net Debt 9,920.27

Current Ratio 0.66

Debt/Equity 1.10

P/E ratio 28.38

Fwd P/E 30.00

P/S ratio 10.71

P/B ratio 10.61

Past 5Y EPS Growth 7.45%

This Y EPS Growth 12.29%

Next Y EPS Growth (2.12%)

Next Y revenue growth 5.91%

Next 5Y EPS Growth 4.58%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 35.16%

10-year low 10-year high

P/S against its own 10 years 10.14%

10-year low 10-year high

P/B against its own 10 years 84.22%

10-year low 10-year high

EV/Sales against its own 10 years 16.03%

10-year low 10-year high

EV/FCF against its own 10 years 36.68%

10-year low 10-year high

Dividends

Payout Ratio 1.15

Annual Dividend Rate 12.00

Annual Dividend Yield 4.02%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	12.02	3.00 3.00 3.00
2025	12.00	3.00 3.00 3.00 3.00
2024	12.00	3.00 3.00 3.00 3.00
2023	12.00	3.00 3.00 3.00 3.00
2022	8.00	2.00 2.00 13.15 2.00 2.00
2021	8.00	2.00 2.00 2.00 2.00
2020	8.00	2.00 2.00 2.00 2.00
2019	8.00	2.00 2.00 2.00 2.00
2018	8.00	2.00 2.00 2.00 2.00
2017	8.00	2.00 2.00 2.00 2.00
2016	7.30	1.70 1.80 1.80 2.00

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	370	447	318	260
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	370	457	460	433

	2023	2024	2025	Q'26
Payables	—	—	—	—
ST’ Debt	—	—	—	—
Other	—	—	—	—
	599	588	613	652

Compound Annual Growth %

	10y	5y	3y
Sales	7.31%	10.60%	4.88%
Cash Flow	6.19%	9.30%	0.74%
Earnings	4.18%	7.62%	(27.39%)
Book Value	0.16%	1.72%	(2.78%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,218	1,233	—	—	—
’25	1,183	1,201	1,224	1,216	4,824
’24	1,157	1,173	1,188	1,177	4,696
’23	1,094	1,120	1,144	1,160	4,518
’22	973	1,032	1,088	1,089	4,182
’21	767	829	895	924	3,416
’20	719	713	735	749	2,915

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	695	868	—	—	—
’25	705	873	875	734	3,186
’24	666	895	799	769	3,128
’23	697	882	876	792	3,247
’22	656	798	927	736	3,117
’21	509	621	684	729	2,544
’20	463	539	528	513	2,043

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	568	747	—	—	—
’25	581	741	704	561	2,586
’24	477	713	606	586	2,381
’23	531	688	663	538	2,421
’22	480	605	727	532	2,344
’21	411	493	539	547	1,991
’20	358	456	451	419	1,683

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.71	2.55	—	—	—
’25	2.04	1.76	2.62	2.60	9.01
’24	2.60	2.66	2.16	3.21	10.64
’23	2.65	3.00	3.20	2.21	11.06
’22	2.63	3.42	15.38	2.06	23.50
’21	2.21	1.97	2.52	3.17	9.87
’20	1.79	1.41	1.41	1.67	6.29

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	200.65	192.15	180.48	193.89	155.37	212.22	270.73	233.18	256.31	256.60	Analyst estimates 2026–2028 Powerpack
	High	277.60	232.21	234.90	266.76	240.75	377.36	421.76	316.48	369.99	322.49
People
People	Employees	5,500	5,600	5,600	5,900	5,400	5,800	5,900	6,200	5,900	5,770
	Revenue/emp, $m	0.47	0.48	0.49	0.48	0.54	0.59	0.71	0.73	0.80	0.84
Income, $m
Income, $m	Revenue	2,561	2,669	2,760	2,855	2,915	3,416	4,182	4,518	4,696	4,824
	Gross margin, %	73.87	73.47	72.56	71.52	70.24	73.05	74.82	74.59	73.21	72.85
	EBT	1,385	1,429	1,406	1,448	1,377	1,972	4,381	2,171	2,089	1,790
	EBT margin, %	54.11	53.56	50.95	50.71	47.24	57.73	104.74	48.05	44.49	37.10
	Net income	1,460	1,448	1,717	1,526	1,361	1,960	4,366	2,160	2,084	1,797
	Depreciation	433	455	484	513	553	713	888	978	1,139	1,162
Per share, $
Per share, $	Revenue	14.79	15.37	15.86	16.38	16.71	19.53	23.86	25.75	26.78	27.50
	Earnings	6.84	6.75	8.56	7.30	6.29	9.91	23.64	11.11	10.68	9.04
	Cash flow	11.24	11.36	11.86	11.86	11.71	14.55	17.79	18.50	17.84	18.16
	Capex	(2.03)	(2.64)	(2.76)	(2.71)	(2.06)	(3.16)	(4.41)	(4.70)	(4.26)	(3.42)
	Free cash flow	9.21	8.73	9.10	9.16	9.65	11.39	13.37	13.80	13.58	14.74
	Book value	54.55	51.63	52.57	52.10	49.15	53.50	58.01	57.60	55.97	53.25
	Shares, m	173	174	174	174	174	175	175	175	175	175
Valuation, ×
Valuation, ×	P/E	32.68	30.61	23.65	29.13	36.71	37.80	11.60	28.07	28.06	28.74
	P/S	15.11	13.42	12.76	13.00	13.82	19.17	11.49	12.11	11.18	9.44
	P/B	7.62	7.25	6.88	7.40	8.42	12.46	8.26	9.50	9.61	9.12
	EV/Sales	15.32	13.92	13.26	13.64	14.72	21.24	13.02	14.12	13.15	11.56
	EV/FCF	24.60	24.51	23.12	24.40	25.49	36.44	23.24	26.34	25.92	21.57
Cash, $m
Cash, $m	Operating cash flow	1,945	1,973	2,064	2,068	2,043	2,544	3,117	3,247	3,128	3,186
	Capex	(351)	(458)	(481)	(472)	(359)	(552)	(773)	(826)	(747)	(600)
	Free cash flow	1,594	1,515	1,583	1,596	1,683	1,991	2,344	2,421	2,381	2,586
Balance, $m
Balance, $m	Working capital	(114)	96	(10)	26	(137)	253	261	(229)	(131)	(153)
	Total debt	391	1,431	1,412	1,902	2,545	7,475	6,871	9,103	9,353	10,254
	Net debt	207	998	1,051	1,493	2,287	6,741	6,096	8,733	8,906	9,936
	Shareholders’ equity	9,442	8,964	9,145	9,080	8,577	9,355	10,167	10,107	9,814	9,342
Returns, %
Returns, %	ROA	11.89	11.23	13.75	11.42	9.48	11.87	23.72	10.43	9.47	7.94
	ROIC	8.90	8.93	8.67	8.67	8.12	6.57	8.23	7.61	7.30	7.25
	ROE	23.18	23.40	29.60	25.12	22.42	34.51	74.82	33.68	33.38	30.33

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PLD Prologis, Inc.	$123.0B	27.9×	41.4×	+7.84% (above 0%: growing)	+85.25% (above 0%: growing)	−18.29% (below 0%: shrinking)	75.04%	43.76%	Compare
PSA Public Storage	$55.2B	28.4×	30.0×	+2.65% (above 0%: growing)	+45.45% (above 0%: growing)	+0.90% (above 0%: growing)	72.09%	37.85%
EXR Extra Space Storage Inc	$30.4B	30.8×	31.3×	+3.87% (above 0%: growing)	+5.93% (above 0%: growing)	+60.40% (above 0%: growing)	71.51%	44.86%	Compare
EGP EastGroup Properties, Inc.	$10.5B	34.4×	34.0×	+9.05% (above 0%: growing)	+16.53% (above 0%: growing)	+447.46% (above 0%: growing)	73.78%	40.76%	Compare
CUBE CubeSmart	$8.7B	26.7×	28.0×	+1.48% (above 0%: growing)	+11.11% (above 0%: growing)	−5.25% (below 0%: shrinking)	66.48%	40.97%	Compare
REXR Rexford Industrial Realty, Inc.	$8.2B	— (loss-making)	27.3×	−1.60% (below 0%: shrinking)	n/m	+30.62% (above 0%: growing)	77.10%	41.60%	Compare
FR First Industrial Realty Trust, Inc.	$8.1B	21.4×	26.9×	+8.20% (above 0%: growing)	+38.10% (above 0%: growing)	+183.07% (above 0%: growing)	75.40%	45.08%	Compare
LINE Lineage, Inc.	$7.8B	— (loss-making)	— (loss-making)	+0.81% (above 0%: growing)	n/m	+91.92% (above 0%: growing)	31.23%	3.97%	Compare
TRNO Terreno Realty Corporation	$7.0B	17.2×	32.9×	+11.12% (above 0%: growing)	−40.00% (below 0%: shrinking)	−173.91% (below 0%: shrinking)	76.25%	41.77%	Compare
Median of peers	$8.5B	27.3×	31.3×	+5.86%	+13.82%	+45.51%	74.41%	41.69%

All 15 Reit Industrial stocks →

Public Storage (PSA) key facts

Strength: Public Storage’s revenue for fiscal 2025 (year ended December 2025) was $4.8 billion, up 2.74% from fiscal 2024.
Public Storage (PSA) is a Reit Industrial company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, PSA traded at $298.27, a market capitalization of $55.2 billion.
Public Storage pays an annual dividend of $12.00 per share, a yield of 4.02%, with a payout ratio of 114.5%.
Return on equity was 30.3% and debt-to-equity 1.10.
Its Piotroski F-score is 4 out of 9 for fiscal 2025.