Public Storage (PSA) financials
Public Storage revenue and earnings by year
Public Storage's revenue was $4.82 billion in the fiscal year to December 31, 2025, up 2.7% from the year before. Net income was $1.78 billion, 37.0% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 7.3% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4.82 | 4.70 | 4.52 | 4.18 | 3.42 | 2.92 | 2.86 | 2.76 | 2.67 | 2.56 |
| Revenue growth | 2.7% | 3.9% | 8.0% | 22.4% | 17.2% | 2.1% | 3.5% | 3.4% | 4.2% | — |
| Operating income | 2.24 | 2.19 | 2.29 | 2.14 | 1.69 | 1.41 | 1.47 | 1.41 | 1.42 | 1.37 |
| Operating margin | 46.4% | 46.5% | 50.7% | 51.2% | 49.6% | 48.4% | 51.4% | 51.2% | 53.3% | 53.7% |
| Net income | 1.78 | 2.07 | 2.15 | 4.35 | 1.95 | 1.36 | 1.52 | 1.71 | 1.44 | 1.45 |
| Net margin | 37.0% | 44.1% | 47.6% | 104.0% | 57.2% | 46.6% | 53.3% | 62.0% | 54.0% | 56.8% |
| Diluted EPS | $9.01 | $10.64 | $11.06 | $23.50 | $9.87 | $6.29 | $7.29 | $8.54 | $6.74 | $6.81 |
| Free cash flow | 2.59 | 2.38 | 2.42 | 2.34 | 1.99 | 1.68 | 1.60 | 1.58 | 1.52 | 1.59 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open PSA in Markets.
How Public Storage makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Self Storage Operations | $1.25B | 91.8% |
| Ancillary Operations | $112M | 8.2% |
See also: PSA valuation and P/E history · PSA returns
No forecast, no recommendation. This page describes Public Storage from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.