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Public Storage (PSA) | Financial Analysis & Statements

Public Storage | Large-cap | Real Estate

$286.76

-0.06%

Public Storage vs Prologis Public Storage vs Extra Space Storage Public Storage vs Lineage Logistics Public Storage vs Rexford Industrial Public Storage vs CubeSmart Public Storage vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Mar 2025

Income Metrics

Revenue 1.2B

Gross Profit 851.3M 71.95%

Operating Income 543.4M 45.93%

Net Income 410.8M 34.72%

Balance Sheet Metrics

Total Assets 19.6B

Total Liabilities 9.9B

Shareholders Equity 9.7B

Debt to Equity 1.03

Cash Flow Metrics

Operating Cash Flow 715.2M

Free Cash Flow 647.1M

Revenue & Profitability Trend

Interactive Financial Charts Not Available

This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Public Storage Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	4.7B	4.5B	4.2B	3.4B	2.9B
Cost of Goods Sold i	1.3B	1.1B	1.1B	920.6M	867.5M
Gross Profit i	3.4B	3.4B	3.1B	2.5B	2.0B
Gross Margin % i	73.2%	74.6%	74.8%	73.0%	70.2%
Operating Expenses
Research & Development i	-	-	17.5M	8.4M	10.8M
Selling, General & Administrative i	106.7M	80.6M	71.7M	76.0M	64.0M
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	106.7M	80.6M	89.2M	84.4M	74.9M
Operating Income i	2.2B	2.3B	2.2B	1.7B	1.4B
Operating Margin % i	46.9%	51.3%	51.9%	49.9%	48.4%
Non-Operating Items
Interest Income i	44.7M	64.8M	20.8M	12.3M	22.3M
Interest Expense i	287.4M	201.1M	136.3M	90.8M	56.3M
Other Non-Operating Income	130.6M	-11.8M	2.3B	344.6M	-16.0M
Pre-tax Income i	2.1B	2.2B	4.4B	2.0B	1.4B
Income Tax i	4.7M	10.8M	14.3M	12.4M	-
Effective Tax Rate % i	0.2%	0.5%	0.3%	0.6%	0.0%
Net Income i	2.1B	2.2B	4.4B	2.0B	1.4B
Net Margin % i	44.4%	47.8%	104.4%	57.4%	46.7%
Key Metrics
EBITDA i	3.4B	3.4B	3.2B	2.7B	2.1B
EPS (Basic) i	$10.68	$11.11	$23.64	$9.91	$6.29
EPS (Diluted) i	$10.64	$11.06	$23.50	$9.87	$6.29
Basic Shares Outstanding i	175351000	175472000	175257000	174858000	174494000
Diluted Shares Outstanding i	175351000	175472000	175257000	174858000	174494000

Income Statement Trend

Public Storage Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	447.4M	370.0M	775.3M	734.6M	257.6M
Short-term Investments i	-	-	-	-	-
Accounts Receivable i	-	-	-	-	-
Inventory i	-	-	-	-	-
Other Current Assets	-	-	-	-	-
Total Current Assets i	447.4M	370.0M	775.3M	734.6M	257.6M
Non-Current Assets
Property, Plant & Equipment i	-	-	-	-	-
Goodwill i	448.0M	553.1M	398.4M	468.7M	370.5M
Intangible Assets i	116.3M	221.4M	66.7M	137.1M	38.8M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	282.2M	275.0M	230.8M	207.7M	172.7M
Total Non-Current Assets i	19.3B	19.4B	16.8B	16.6B	11.6B
Total Assets i	19.8B	19.8B	17.6B	17.4B	11.8B
Liabilities
Current Liabilities
Accounts Payable i	-	-	-	-	-
Short-term Debt i	-	-	-	-	-
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities i	588.2M	599.0M	514.7M	482.1M	394.7M
Non-Current Liabilities
Long-term Debt i	9.4B	9.1B	6.9B	7.5B	2.5B
Deferred Tax Liabilities i	-	-	-	-	-
Other Non-Current Liabilities	-	-	-	-	-
Total Non-Current Liabilities i	9.4B	9.1B	6.9B	7.5B	2.8B
Total Liabilities i	9.9B	9.7B	7.4B	8.0B	3.2B
Equity
Common Stock i	17.5M	17.6M	17.5M	17.5M	17.5M
Retained Earnings i	-699.1M	-267.9M	-110.2M	-550.4M	-914.8M
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	9.8B	10.1B	10.2B	9.4B	8.6B
Key Metrics
Total Debt i	9.4B	9.1B	6.9B	7.5B	2.5B
Working Capital i	-140.8M	-229.0M	260.6M	252.5M	-137.1M

Balance Sheet Composition

Public Storage Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	2.1B	2.2B	4.4B	2.0B	1.4B
Depreciation & Amortization i	1.1B	970.1M	888.1M	713.4M	553.3M
Stock-Based Compensation i	44.7M	41.6M	56.7M	59.8M	33.4M
Working Capital Changes i	-45.0M	-16.4M	-29.6M	-44.1M	0
Operating Cash Flow i	3.2B	3.2B	5.3B	2.7B	2.0B
Investing Activities
Capital Expenditures i	-	-	-	-	-
Acquisitions i	0	-2.2B	2.6B	0	-
Investment Purchases i	-	-	-	-	-
Investment Sales i	-	-	-	-	-
Investing Cash Flow i	-10.0M	-2.2B	2.6B	0	7.5M
Financing Activities
Share Repurchases i	-200.0M	0	0	-1.2B	-1.2B
Dividends Paid i	-2.3B	-2.3B	-3.9B	-1.6B	-1.6B
Debt Issuance i	1.2B	2.2B	0	5.0B	545.2M
Debt Repayment i	-808.5M	-8.3M	-513.5M	-2.2M	-2.0M
Financing Cash Flow i	-2.1B	-166.1M	-4.2B	3.4B	-1.1B
Free Cash Flow i	2.7B	2.8B	2.7B	2.3B	1.9B
Net Change in Cash i	1.1B	831.7M	3.7B	6.1B	897.2M

Cash Flow Trend

Public Storage Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 31.34

Forward P/E 27.03

Price to Book 10.04

Price to Sales 10.60

PEG Ratio -0.92

Profitability Ratios

Profit Margin 38.06%

Operating Margin 47.58%

Return on Equity 18.92%

Return on Assets 6.90%

Financial Health

Current Ratio 0.61

Debt to Equity 110.17

Beta 0.85

Per Share Data

EPS (TTM) $9.17

Book Value per Share $28.63

Revenue per Share $27.15

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
psa	50.4B	31.34	10.04	18.92%	38.06%	110.17
Prologis	102.8B	29.85	1.95	6.37%	38.69%	61.59
Extra Space Storage	30.3B	29.75	2.11	6.90%	28.77%	93.01
Lineage Logistics	10.0B	-10.83	1.06	-8.17%	-10.57%	83.74
Rexford Industrial	9.7B	29.44	1.07	3.75%	32.18%	36.51
CubeSmart	9.1B	24.25	3.22	13.04%	34.20%	118.36

Financial data is updated regularly. All figures are in the company's reporting currency.