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Public Storage PSA

19 fiscal years on record · USD · FY2025 reported · SEC filings only
$4.8B
▲ 2.7% YoY
$1.8B
▼ 13.9% YoY
$2.2B
▼ 21.7% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Public Storage engages in the ownership, development and operation of self-storage facilities, and in related operations including tenant reinsurance, third-party self-storage management and bridge lending to third-party self-storage owners. The company has a physical presence in most major markets and in 40 states. At December 31, 2025, the company held interests in and consolidated 3,171 self-storage facilities, an aggregate of 229 million net rentable square feet of space, operating under the Public Storage name. At December 31, 2025, the company managed 362 facilities for third parties, with approximately 28.2 million net rentable square feet. The company holds a 35% interest in Shurgard Self Storage Limited, a public company traded on Euronext Brussels. The company has approximately 5,770 employees, including 4,920 customer-facing roles, 410 field management employees, and 440 employees in its corporate operations. Public Storage Operating Company, formerly known as Public Storage, was organized in 1980.

Written from the business description in Public Storage's annual report to the U.S. Securities and Exchange Commission, filed 12 February 2026. Every sentence was checked against that document before publication.

Growth

USD 4.8B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 4.8 · Net income 1.8
2B4B
2007201020132016201920222025
Compound annual growth
+4.9%
+10.6%
+7.3%
+7.6%
−25.7%
+5.6%
+3.1%
+6.7%
−27.4%
+7.5%
+4.0%
+9.4%
−17.2%
+8.4%
+6.3%
+9.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.6% a year over the five years to FY2025 — but profit grew slower: net income at +5.6%, earnings per share at +7.5%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

37 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 37.1% · Net 37.3%
50%100%
200720162025
ROE
FY2025 · ROE 18.8%
20%40%
200720162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Each USD of equity produced 19 cents of profit this year.

Cash & shareholders

USD 0.00
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 2.2
2B3B-1B-2B
200720162025
Net buybacks $M Dividends $M
FY2025 · Dividends · · Net buybacks 0.0
400M800MDividendsNet buybacks
2007200920112013202220242025

Total assetsUSD 20.2B
EquityUSD 9.2B
CashUSD 318.1M
Gross debtUSD 10.3B
Net debtUSD 9.9B

Net debt stands at 107% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
PSA, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B4.84.74.54.23.42.92.92.82.72.62.42.22.01.81.71.61.61.71.8
Operating income $B1.82.12.24.42.0◌◌◌1.41.41.21.11.00.90.80.7◌◌◌
EBITDA $B2.93.23.15.32.7◌◌◌1.91.81.71.51.31.21.11.0◌◌◌
Income tax $B−0.00.00.00.00.0◌◌◌0.00.00.00.00.0◌◌◌◌◌◌
Net income $B1.82.12.14.32.01.41.51.71.41.51.31.11.10.90.80.70.80.90.5
Free cash flow $B2.22.92.82.4−2.51.31.61.91.71.51.61.20.31.11.11.01.11.01.0
EPS, diluted $9.0110.6411.0623.509.876.297.298.546.736.816.075.254.893.903.292.353.474.180.01
Dividend / sh $12.0012.0012.0021.158.008.008.008.008.007.306.505.605.154.403.653.052.202.80◌
Payout %———————————85848075774550—
ROE %18.821.021.444.821.815.416.718.915.715.614.112.512.511.59.77.69.510.44.9
Shares out B◌◌0.180.180.180.170.170.170.170.170.170.170.170.170.170.170.170.17◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 1 failure in 62 reconciliationsAUDITED

Reconciled in 18 of the 19 fiscal years we could check. Six checks were skipped: cost of revenue is not tagged before 2013. One check was skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency1 failure
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2007

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