FirmAtlas

Company handbook · PSA · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17

PSA · CIK 1393311 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026

PUBLIC STORAGE

$298.31 +2.98 (+1.01%)

Close, Oct 16, 2026 · 52-week $257–336

↗ publicstorage.com

Last fiscal year

PUBLIC STORAGE reported revenue of $4.8B for the year ended Dec 31, 2025 (FY25), up 2.7% from FY24. Net income was $1.8B and operating cash flow $3.2B. Source: 10-K filed Feb 12, 2026.

Market cap

$52.5B

P/E

25.7

P/B

5.7

Div yield

4.02%

Revenue 1Y

2.7%/yr

EPS 1Y

−15.3%/yr

Shares 1Y

−0.1%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEOJoseph D. Russell, Jr.

HQFrisco, TX

AuditorErnst & Young LLP

Employees5,770

Year endsDecember

Revenue by segment · FY25

Self Storage Operations93%

Ancillary Operations7%

Compounded growth & averages

10Y

TTM

Share price

3.4%

−1.4%

2.7%

−2.7%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Where the cash went · FY24–FY25

$200M deployed

Buybacks $200M 100.0%

Operating cash flow over the period: $6.3B. Total debt changed by +$901M.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Sep 16, 2026 Material agreement 8-K Sep 14, 2026 Other announcement 8-K Sep 10, 2026 Material agreement 8-K Sep 1, 2026 Other announcement 8-K Aug 10, 2026 Executive or director change 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

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Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

4,696

4,824+2.7%

4,890

YoY

+2.7%

Interest expense

287

304+5.9%

—

Net income

2,072

1,784−13.9%

2,044

YoY

−13.9%

Net margin

44.1%

37.0%−7.1 pp

—

EPS (diluted, $)

10.64

9.01−15.3%

—

YoY

−15.3%

Balance sheet

FY24 FY25

TTM

Total assets

19,755

20,209+2.3%

20,118

Cash & short-term investments

447

318−28.9%

—

Other assets

19,308

19,891+3.0%

—

Total liabilities

10,042

10,960+9.1%

10,927

Total debt

9,353

10,254+9.6%

10,180

Other liabilities

689

707+2.5%

—

Shareholders’ equity

9,713

9,248−4.8%

9,190

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

3,128

3,186+1.9%

3,172

Net income

2,084

1,797−13.8%

—

Depreciation & amortization

1,130

1,152+2.0%

—

Stock-based compensation

40−10.8%

—

Working capital & other

(131)

198n/m

—

Cash from investing

(1,003)

(1,685)n/m

—

Acquisitions

0n/m

—

Other investing

(1,003)

(1,685)n/m

—

Cash from financing

(2,079)

(1,631)n/m

—

Debt raised

1,151

1,356+17.8%

—

Buybacks

(200)

0n/m

—

Shares issued

0−100.0%

—

Other financing

(3,090)

(2,987)n/m

—

Net change in cash

(129)−374.9%

—

Where the cash went

FY24 FY25

TTM

Operating cash flow

3,128

3,186+1.9%

3,172

Acquisitions

0n/m

—

Returned to shareholders

200

0−100.0%

—

% of free cash flow

—

Buybacks

200

0−100.0%

—

Change in total debt

—

901

—

Buyback yield

0.4%

—

Returns & ratios

FY24 FY25

TTM

Debt / equity

0.96x

1.11x+0.15x

—

ROE

21.3%

19.3%−2.0 pp

—

ROA

10.5%

8.8%−1.7 pp

—

Invested capital (all)

18,618

19,184+3.0%

—

Income

Sep '25

Dec '25

Mar '26

Jun '26

Revenue

1,224

1,216

1,218

1,233

vs year-ago quarter

Operating income

—

474

467

Net income

511

507

526

500

vs year-ago quarter

Net margin

41.8%

41.7%

43.2%

40.6%

EPS (diluted, $)

2.62

2.88

2.71

2.55

vs year-ago quarter

Balance sheet

Sep '25

Dec '25

Mar '26

Jun '26

Total assets

20,114

20,209

19,850

20,118

Cash & equivalents

296

318

135

260

Total debt

10,043

10,254

9,707

10,180

Shareholders’ equity

9,312

9,248

9,224

9,190

Cash flow

Sep '25

Dec '25

Mar '26

Jun '26

Operating cash flow

875

734

695

868