PSA - NYSE
Public Storage
$303.70
+1.5%Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. Our headquarters are located in Glendale, California.
At a Glance
Live SnapshotPublic Storage Profit Bridge
Profitability Analysis
Gross Margin
Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.
Public Storage Income Statement
PSA • NYSE
| Public Storage Income Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | ||||||||||||||||||||
4.8B | 4.7B | 4.5B | 4.2B | 3.4B | 2.9B | 2.9B | 2.8B | 2.7B | 2.6B | 2.4B | 2.2B | 2B | 1.8B | 1.7B | 1.6B | 1.6B | 1.7B | 1.8B | 1.4B | |
GROSS PROFIT | ||||||||||||||||||||
(3.6B) | (1.3B) | (1.1B) | (1.1B) | (920.6M) | (867.5M) | (813.2M) | (757.1M) | (708M) | (669.1M) | (635.5M) | (613.3M) | (559.8M) | (555.9M) | (560.5M) | (528.4M) | (520.9M) | (554.3M) | (657.7M) | (498.4M) | |
1.2B | 3.4B | 3.4B | 3.1B | 2.5B | 2B | 2B | 2B | 2B | 1.9B | 1.7B | 1.6B | 1.4B | 1.3B | 1.2B | 1.1B | 1.1B | 1.2B | 1.2B | 882.6M | |
OPERATING INCOME | ||||||||||||||||||||
-1.1B | (1.2B) | (1.1B) | (959.8M) | (789.4M) | (636.5M) | (575.1M) | (588.4M) | (537.4M) | (517M) | (514.2M) | (508.6M) | (454.1M) | (414.6M) | (412.6M) | (392.7M) | (375.2M) | (471.8M) | (745.8M) | (522.2M) | |
(106.7M) | (106.7M) | (80.6M) | (71.7M) | (76M) | (64M) | (62.1M) | (93.8M) | (69.9M) | (70.1M) | (72.8M) | (56M) | (51.5M) | (45.7M) | (42.7M) | (28.9M) | (35.7M) | (62.8M) | (59.7M) | (84.7M) | |
(0.0) | (0.0) | (0.0) | (17.5M) | (8.4M) | (10.8M) | (6.9M) | (5.4M) | (8.2M) | (9.7M) | (10M) | (10.6M) | (10.5M) | (6.4M) | (4.1M) | (5.9M) | (0.0) | (0.0) | (0.0) | (0.0) | |
2.3B | 2.2B | 2.3B | 2.2B | 1.7B | 1.4B | 1.5B | 1.4B | 1.4B | 1.4B | 1.2B | 1.1B | 951.1M | 872M | 762.8M | 692.6M | 726.8M | 694.4M | 410.9M | 360.3M | |
PRE-TAX INCOME | ||||||||||||||||||||
(304.5M) | (287.4M) | (201.1M) | (136.3M) | (90.8M) | (56.3M) | (45.6M) | (32.5M) | (12.7M) | (4.3M) | (600K) | (6.8M) | (6.4M) | (19.8M) | (24.2M) | (30.2M) | (29.9M) | (43.9M) | (63.7M) | (0.0) | |
-267.9M | -242.7M | -136.3M | -115.5M | -78.5M | -34M | -19M | -8M | 6.1M | 10.8M | 15.9M | 10.8M | 27.5M | 2.3M | 8.1M | -1.2M | -29.9M | -43.9M | -63.7M | 0.0 | |
-1.2B | (1.1B) | (970.1M) | (870.6M) | (705M) | (561.6M) | (506.1M) | (489.1M) | (459.3M) | (437.2M) | (431.4M) | (442M) | (392.1M) | (362.6M) | (365.7M) | (357.9M) | (339.4M) | (409M) | (686.1M) | (437.6M) | |
-464.5M | -112.1M | -148.1M | 2.2B | 266.2M | -49.9M | 58.8M | 303.1M | 25.3M | 85.9M | 85.7M | 94.5M | 106.4M | 58.2M | 70.3M | -4.3M | 70.5M | -694.4M | -410.9M | -360.3M | |
1.8B | 2.1B | 2.2B | 4.4B | 2B | 1.4B | 1.5B | 1.7B | 1.4B | 1.5B | 1.3B | 1.1B | 1.1B | 930.2M | 833.1M | 688.4M | 797.4M | 0.0 | 0.0 | 0.0 | |
NET INCOME | ||||||||||||||||||||
-7.2M | (4.7M) | (10.8M) | (14.3M) | (12.4M) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
1.8B | 2.1B | 2.1B | 4.3B | 2B | 1.4B | 1.5B | 1.7B | 1.4B | 1.5B | 1.3B | 1.1B | 1.1B | 939.3M | 823.8M | 672M | 834.6M | 935.2M | 457.5M | 314M |
SEC Filings
PSA - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | June 01, 2026 | June 01, 2026 | 2026 | |
S-4 S-4 N/A | May 11, 2026 | May 11, 2026 | ||
8-K 8-K 2026 N/A | May 11, 2026 | May 06, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | April 27, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 27, 2026 | April 27, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 06, 2026 | April 06, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 02, 2026 | April 01, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | March 27, 2026 | May 06, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 17, 2026 | March 16, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 16, 2026 | March 16, 2026 | 2026 |
Related Guides
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Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
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Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.