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Public Storage (PSA) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Self-Storage REITs · DATA UPDATED 2026-07-14

Public Storage (PSA) operates in the Self-Storage REITs industry and is headquartered in Frisco, United States with about 5,770 employees. Its market capitalization is roughly $60 billion. In the fiscal year ended 2025-12-31, PSA reported $4.8B in revenue and $1.8B in net income.

Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities.

Interactive charts & full statements → Open the PSA valuation workbench →

PSA Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$4.9B	$4.8B	$4.7B	$4.5B	$4.2B	$3.4B	$2.9B	$2.9B	$2.8B	$2.7B	$2.6B	$2.4B	$2.2B	$2.0B	$1.8B	$1.7B	$1.6B	$1.3B	$1.4B	$1.3B	$1.4B
Gross Profit	$2.9B	$1.2B	$3.4B	$3.4B	$3.1B	$2.5B	$2.0B	$2.0B	$2.0B	$2.0B	$1.9B	$1.7B	$1.6B	$1.4B	$1.3B	$1.2B	$1.1B	$1.1B	$121M	$1.2B	$883M
Gross Margin %	60.6%	25.0%	73.2%	74.6%	74.8%	73.0%	70.2%	71.5%	72.6%	73.5%	73.9%	73.3%	71.8%	71.5%	69.8%	67.7%	67.3%	83.2%	8.8%	86.4%	63.9%
Operating Income (EBIT)	$2.5B	$2.3B	$2.2B	$2.3B	$2.3B	$1.7B	$1.4B	$1.5B	$1.4B	$1.4B	$1.4B	$1.2B	$1.1B	$951M	$872M	$763M	$693M	$727M	$84M	$411M	$360M
Operating Margin %	50.8%	46.7%	46.9%	51.3%	54.4%	49.9%	48.4%	51.4%	51.2%	53.3%	53.7%	51.7%	48.5%	48.4%	47.3%	43.9%	42.9%	54.9%	6.1%	30.7%	26.1%
Net Income	$1.9B	$1.8B	$2.1B	$2.1B	$4.3B	$2.0B	$1.4B	$1.5B	$1.7B	$1.4B	$1.5B	$1.3B	$1.1B	$1.1B	$939M	$824M	$672M	$835M	$935M	$458M	$314M
Net Margin %	39.2%	37.0%	44.1%	47.5%	104.0%	57.2%	46.6%	53.3%	62.0%	54.0%	56.8%	55.1%	52.5%	53.6%	51.0%	47.5%	41.6%	63.0%	68.0%	34.2%	22.7%
EBITDA	$3.2B	$3.2B	$3.5B	$3.3B	$3.2B	$2.8B	$2.0B	$2.1B	$2.2B	$1.9B	$1.9B	$1.7B	$1.6B	$1.5B	$1.3B	$1.2B	$1.1B	$1.2B	$498M	$1.1B	$798M
Earnings Per Share (EPS)	$10.82	$10.14	$11.77	$12.20	$24.67	$11.13	$7.77	$8.71	$9.82	$8.28	$8.36	$7.56	$6.61	$6.09	$5.47	$4.82	$3.96	$4.95	$5.53	$2.69	$2.19
Shares Outstanding (M)	176M	176M	176M	176M	176M	176M	175M	175M	174M	174M	174M	174M	173M	173M	172M	171M	170M	169M	169M	170M	144M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PSA Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B
Gross Profit	$878M	$292M	$893M	$883M	$851M	$867M	$866M	$872M
Gross Margin %	72.1%	24.0%	73.0%	73.5%	72.0%	73.6%	72.9%	74.3%
Operating Income (EBIT)	$474M	$557M	$864M	$575M	$543M	$553M	$560M	$562M
Operating Margin %	39.0%	45.8%	70.6%	47.9%	45.9%	47.0%	47.1%	47.9%
Net Income	$526M	$507M	$511M	$358M	$408M	$615M	$430M	$518M
Net Margin %	43.2%	41.7%	41.8%	29.8%	34.5%	52.2%	36.2%	44.2%
EBITDA	$743M	$872M	$888M	$719M	$767M	$970M	$790M	$880M
Earnings Per Share (EPS)	$2.99	$2.88	$2.91	$2.04	$2.32	$3.49	$2.45	$2.94
Shares Outstanding (M)	176M	176M	176M	176M	176M	176M	176M	176M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PSA Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$3.2B	$3.2B	$3.1B	$3.2B	$3.1B	$2.5B	$2.0B	$2.1B	$2.1B	$2.0B	$1.9B	$1.7B	$1.6B	$1.4B	$1.3B	$1.2B	$1.1B	$1.1B	$1.1B	$1.0B	$775M
Capital Expenditures (CapEx)	$338M	$289M	$420M	$461M	$460M	$270M	$170M	$187M	$141M	$121M	$351M	$294M	$223M	$160M	$78M	$89M	$94M	$62M	$76M	$264M	$298M
Free Cash Flow (FCF)	$2.8B	$2.9B	$2.7B	$2.8B	$2.7B	$2.3B	$1.9B	$1.9B	$1.9B	$1.9B	$1.6B	$1.5B	$1.4B	$1.3B	$1.2B	$1.1B	$999M	$1.1B	$1.0B	$763M	$477M
FCF Margin %	58.4%	60.1%	57.7%	61.7%	63.5%	66.5%	64.2%	65.9%	69.7%	69.4%	62.3%	61.1%	63.4%	64.6%	65.5%	64.2%	61.9%	79.3%	72.8%	57.0%	34.6%
Dividends Paid	$2.9B	$2.3B	$2.3B	$2.3B	$3.9B	$1.6B	$1.6B	$1.6B	$1.6B	$1.6B	$1.5B	$1.4B	$1.2B	$1.1B	$959M	$846M	$755M	$652M	$755M	$620M	$534M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PSA Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$695M	$734M	$875M	$873M	$705M	$769M	$799M	$895M
Capital Expenditures (CapEx)	$70M	$100M	$113M	$55M	$58M	$103M	$110M	$102M
Free Cash Flow (FCF)	$625M	$634M	$762M	$817M	$647M	$665M	$688M	$793M
FCF Margin %	51.3%	52.1%	62.2%	68.0%	54.7%	56.5%	58.0%	67.6%
Dividends Paid	$581M	$576M	$1.2B	$576M	$576M	$576M	$575M	$575M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

PSA Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$19.9B	$20.2B	$19.8B	$19.8B	$17.6B	$17.4B	$11.8B	$11.4B	$10.9B	$10.7B	$10.1B	$9.8B	$9.8B	$9.9B	$8.8B	$8.9B	$9.5B	$9.8B	$9.9B	$10.6B	$11.2B
Cash & Cash Equivalents	$135M	$318M	$447M	$370M	$775M	$735M	$258M	$410M	$361M	$433M	$184M	$104M	$188M	$19M	$17M	$139M	$456M	$764M	$681M	$245M	$556M
Total Liabilities	$10.5B	$10.9B	$9.9B	$9.7B	$7.4B	$8.0B	$3.2B	$2.3B	$1.8B	$1.8B	$689M	$581M	$312M	$1.1B	$671M	$609M	$774M	$731M	$856M	$1.4B	$2.5B
Total Debt (Short + Long-Term)	$9.7B	$10.3B	$10.0B	$9.9B	$6.9B	$8.0B	$2.5B	$1.9B	$1.4B	$1.4B	$392M	$348M	$129M	$889M	$602M	$398M	$1.1B	$1.0B	$631M	$1.1B	$1.4B
Total Shareholders' Equity	$9.2B	$9.2B	$9.7B	$10.0B	$10.2B	$9.4B	$8.6B	$9.1B	$9.1B	$9.0B	$9.4B	$9.2B	$9.5B	$8.8B	$8.1B	$8.3B	$8.7B	$8.9B	$8.7B	$8.8B	$8.2B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive PSA viewer.

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