Public Storage (PSA-PF) Financials
Newest figures come from the filing for Q3 FY2026, filed Oct 26, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PSA-PF SEC filings page.
Public Storage (PSA-PF) reported $5.0B in revenue over the twelve months to Sep 30, 2026, up 5.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings.
FY2025 shows a cash-generative operating business whose reported earnings weakened as debt and interest costs took a larger role.
The unusual earnings-quality signal is that net income fell13.9% while operating cash flow rose1.9% . Operating cash flow reached178.6% of net income, indicating that cash generation did not track the accounting earnings decline and was likely less affected by noncash items.
From FY2022 to FY2025, total liabilities rose
Revenue expanded
Financial Health Signals
We do not publish a peer-relative financial health score for Public Storage, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Public Storage passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, Public Storage generates $1.79 in operating cash flow ($3.2B OCF vs $1.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Public Storage generated $1.4B in revenue in Q3 2026. This represents an increase of 11.6% from the same quarter a year earlier. Against the prior quarter it is up 10.8%.
Public Storage's EBITDA was $729.6M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.7% from the same quarter a year earlier. Against the prior quarter it is down 3.3%.
Public Storage reported $366.9M in net income in Q3 2026. This represents a decrease of 28.2% from the same quarter a year earlier. Against the prior quarter it is down 26.6%.
Public Storage earned $1.69 per diluted share (EPS) in Q3 2026. This represents a decrease of 35.5% from the same quarter a year earlier. Against the prior quarter it is down 33.7%.
Cash & Balance Sheet
Public Storage held $560.4M in cash against $12.0B in long-term debt as of Q3 2026.
Public Storage paid $3.00 per share in dividends in Q3 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q3 2026.
Margins & Returns
Public Storage's operating margin was 23.2% in Q3 2026, reflecting core business profitability. This is down 17.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 14.6 percentage points.
Public Storage's net profit margin was 26.9% in Q3 2026, showing the share of revenue converted to profit. This is down 14.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 13.7 percentage points.
Public Storage's quarterly ROE was 2.5% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 3.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.9 percentage points.
Not reported for Q3 2026.
Capital Allocation
None of these metrics is reported for Q3 2026.
PSA-PF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B+11.6% | $1.2B+2.6% | $1.2B+2.9% | $1.2B+3.3% | $1.2B+3.1% | $1.2B+2.4% | $1.2B+2.2% | $1.2B+1.5% |
| SG&A Expenses | $38.3M+32.9% | $44.4M+72.5% | $30.4M+20.5% | $27.0M-17.1% | $28.8M+9.8% | $25.7M-3.2% | $25.2M+18.0% | $32.5M+40.5% |
| Operating Income | $317.0M-35.5% | $466.7M-6.7% | $474.3M+2.2% | N/A | $491.5M | $500.0M | $464.0M | N/A |
| EBITDA | $729.6M-6.7% | $754.4M-3.7% | $765.0M+2.4% | N/A | $781.9M | $783.2M | $746.7M | N/A |
| Interest Expense | $102.5M+28.7% | $84.8M+18.4% | $80.0M+11.1% | $81.2M+12.5% | $79.7M+7.3% | $71.6M-2.2% | $72.0M+6.2% | $72.1M+5.1% |
| Income Tax | -$15.0M-631.1% | $2.7M-16.2% | $1.6M+10.0% | -$14.7Mn/m | $2.8M+13.8% | $3.2M+56.1% | $1.4M-3.6% | -$1.4M-158.1% |
| Net Income | $366.9M-28.2% | $500.0M+39.5% | $526.3M+29.1% | $507.1M-17.5% | $511.1M+18.8% | $358.4M-30.8% | $407.8M-19.9% | $614.6M+39.9% |
| EPS (Basic) | $1.70-35.4% | $2.56+45.5% | $2.72+33.3% | $2.61-18.9% | $2.63+21.2% | $1.76-34.1% | $2.04-21.8% | $3.22+45.0% |
| EPS (Diluted) | $1.69-35.5% | $2.55+44.9% | $2.71+32.8% | $2.59-19.3% | $2.62+21.3% | $1.76-33.8% | $2.04-21.5% | $3.21+45.2% |
| Diluted Shares (Avg) | 185M+5.2% | 177M+0.3% | 176M0.0% | N/A | 176M0.0% | 176M0.0% | 176M-0.2% | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
PSA-PF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $29.0B+44.2% | $20.1B-2.1% | $19.9B+1.2% | $20.2B+2.3% | $20.1B+1.6% | $20.5B+3.8% | $19.6B0.0% | $19.8B-0.3% |
| Cash & Equivalents | $560.4M+89.0% | $259.9M-76.5% | $134.6M-53.1% | $318.1M-28.9% | $296.5M-50.5% | $1.1B+103.7% | $287.2M+5.7% | $447.4M+20.9% |
| Goodwill | $617.3M+272.2% | $165.8M0.0% | $165.8M0.0% | $165.8M0.0% | $165.8M0.0% | $165.8M0.0% | $165.8M0.0% | $165.8M0.0% |
| Total Liabilities | $13.8B+28.7% | $10.8B-2.1% | $10.5B+5.9% | $10.9B+9.3% | $10.7B+6.1% | $11.1B+10.8% | $9.9B+3.9% | $9.9B+2.5% |
| Long-Term Debt | $12.0B+19.4% | $10.2B-2.5% | $9.7B+3.0% | $10.3B+9.6% | $10.0B+6.0% | $10.4B+11.1% | $9.4B+3.9% | $9.4B+2.7% |
| Total Equity | $14.5B+55.7% | $9.2B-1.9% | $9.2B-3.6% | $9.2B-4.8% | $9.3B-3.1% | $9.4B-3.4% | $9.6B-3.8% | $9.7B-3.0% |
| Retained Earnings | -$1.6Bn/m | -$1.3Bn/m | -$1.3Bn/m | -$1.2Bn/m | -$1.2Bn/m | -$1.1Bn/m | -$867.4Mn/m | -$699.1Mn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
PSA-PF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $708.9M-19.0% | $868.4M-0.5% | $694.8M-1.5% | $733.6M-4.6% | $875.1M+9.6% | $872.7M-2.5% | $705.1M+5.9% | $768.6M-2.9% |
| Depreciation & Amortization | $412.6M+42.1% | $287.8M+1.6% | $290.7M+2.8% | $295.5M+5.2% | $290.4M+3.6% | $283.2M0.0% | $282.7M-0.9% | $280.9M-2.3% |
| Stock-Based Compensation | $10.5M+11.4% | $12.8M+20.4% | $11.9M+15.6% | N/A | $9.5M-13.5% | $10.6M-1.9% | $10.3M-0.6% | N/A |
| Investing Cash Flow | -$2.0Bn/m | -$347.0Mn/m | -$147.3Mn/m | -$364.3Mn/m | -$696.0Mn/m | -$338.3Mn/m | -$286.5Mn/m | -$411.6Mn/m |
| Financing Cash Flow | $1.6Bn/m | -$396.2M-240.0% | -$731.0Mn/m | -$347.6Mn/m | -$987.3Mn/m | $283.0Mn/m | -$578.8Mn/m | -$508.6Mn/m |
| Share Buybacks | N/A | N/A | N/A | $0n/m | $0n/m | N/A | N/A | $0n/m |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
PSA-PF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'26Filing | Q2'26Filing | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.2%-17.0pp | 37.9%-3.8pp | 39.0%-0.3pp | N/A | 40.2% | 41.6% | 39.2% | N/A |
| Net Margin | 26.9%-14.9pp | 40.6%+10.7pp | 43.2%+8.7pp | 41.7%-10.5pp | 41.8%+5.5pp | 29.8%-14.3pp | 34.5%-9.5pp | 52.2%+14.3pp |
| Return on Equity | 2.5%-3.0pp | 5.4%+1.6pp | 5.7%+1.4pp | 5.5%-0.8pp | 5.5%+1.0pp | 3.8%-1.5pp | 4.3%-0.9pp | 6.3%+1.9pp |
| Return on Assets | 1.3%-1.3pp | 2.5%+0.8pp | 2.6%+0.6pp | 2.5%-0.6pp | 2.5%+0.4pp | 1.7%-0.9pp | 2.1%-0.5pp | 3.1%+0.9pp |
| Debt-to-Equity | 0.83-0.3x | 1.110.0x | 1.05+0.1x | 1.11+0.1x | 1.08+0.1x | 1.11+0.1x | 0.99+0.1x | 0.96+0.1x |
| Liabilities-to-Equity | 0.95-0.2x | 1.180.0x | 1.14+0.1x | 1.18+0.2x | 1.15+0.1x | 1.18+0.2x | 1.04+0.1x | 1.02+0.1x |
| Asset Turnover | 0.050.0x | 0.060.0x | 0.060.0x | 0.060.0x | 0.060.0x | 0.060.0x | 0.060.0x | 0.060.0x |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
Where Public Storage Ranks
Frequently Asked Questions
Public Storage (PSA-PF) reported $4.8B in total revenue for fiscal year 2025. This represents a 2.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Public Storage (PSA-PF) revenue grew by 2.7% year-over-year, from $4.7B to $4.8B in fiscal year 2025.
Yes, Public Storage (PSA-PF) reported a net income of $1.9B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $1.8B, with a net profit margin of 37.0%.
As of fiscal year 2025, Public Storage (PSA-PF) had $318.1M in cash and equivalents against $10.3B in long-term debt.
Public Storage (PSA-PF) had a net profit margin of 37.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, Public Storage (PSA-PF) paid $12.00 per share in dividends during fiscal year 2025.
Public Storage (PSA-PF) has a return on equity of 19.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Public Storage (PSA-PF) generated $3.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Public Storage (PSA-PF) had $20.2B in total assets as of fiscal year 2025, including both current and long-term assets.
Public Storage (PSA-PF) had a debt-to-equity ratio of 1.11 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Public Storage (PSA-PF) had a liabilities-to-equity ratio of 1.18 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Public Storage (PSA-PF) had a return on assets of 8.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Public Storage (PSA-PF) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Public Storage (PSA-PF) has an earnings quality ratio of 1.79x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.