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PSA · NYSE · United States · Real Estate Investment Trusts
In shortPublic Storage is profitable, generates cash and carries moderate debt, with revenue growing (+2.7% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | – | n/a |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 37.0% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 18.8% | 94/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | – | n/a |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.11× | 50/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 66.1% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.79× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 8.6% | 79/100 |
| Operating margin volatility | – | n/a |
Weight in the score: 20%
| Revenue growth, 3-year average | 4.9% | 44/100 |
|---|---|---|
| EPS growth, 3-year average | -27.4% | 0/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 3,416 | 4,182 | 4,518 | 4,696 | 4,824 |
| Interest expense | 91 | 136 | 201 | 287 | 304 |
| Pre-tax income | 1,972 | 4,381 | 2,171 | 2,089 | 1,790 |
| Income tax | 12 | 14 | 11 | 4.7 | (7.2) |
| Net income | 1,953 | 4,349 | 2,148 | 2,072 | 1,784 |
| Diluted EPS | $9.87 | $23.50 | $11.06 | $10.64 | $9.01 |
| Diluted shares (millions) | 176 | 176 | 176 | 176 | 176 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
Not computed: a required balance-sheet item is missing.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Jul 29, 2026