Public Storage revenue and financials

PSA · NYSE · USD

$281.66−0.76%−$2.15

Close · October 5, 2026

In the fiscal year ended December 2025, Public Storage reported revenue of $4.82B (+2.74% year over year). Net income was $1.78B, a net margin of 37.0%.

Annual revenue · 2025: $4.82B

$2.56B2016
$2.67B2017
$2.76B2018
$2.86B2019
$2.92B2020
$3.42B2021
$4.18B2022
$4.52B2023
$4.7B2024
$4.82B2025

Fiscal year ending in December. Sources and method on the page Methodology and sources.

At a glance

Revenue growth: +2.74%; 2025 vs 2024
Net income growth: −13.88%; 2025 vs 2024
Net margin: 37.0%; 2024: 44.1%

Financial data

Amounts in millions of USD; per-share values in USD; shares in millions.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	4,824	4,696	4,518	4,182	3,416	2,915	2,855	2,760	2,669	2,561
Cost of revenue	1,310	1,258	1,148	1,053	—	—	—	740	708	669
Gross profit	3,514	3,438	3,370	3,129	—	—	—	2,015	1,961	1,891
Selling, general and administrative	102	107	80.6	71.7	—	—	—	—	—	—
Research and development	—	—	—	17.5	8.4	—	—	—	—	—
Operating income	2,260	2,201	2,319	2,169	—	—	—	—	1,423	1,374
EBIT	2,255	2,205	2,332	2,255	1,925	—	—	—	—	—
EBITDA	3,407	3,335	3,302	3,143	2,638	—	—	—	—	—
Interest expense	304	287	201	136	90.8	56.3	45.6	32.5	12.7	4.2
Pre-tax income	1,790	2,089	2,171	4,381	1,972	—	—	—	—	—
Income tax	-7.2	4.7	10.8	14.3	12.4	—	—	—	0.0	0.0
Net income	1,784	2,072	2,148	4,349	1,953	1,357	1,521	1,711	1,442	1,454
Net income to common shareholders	1,586	1,873	1,949	4,142	1,732	—	—	—	—	—
Basic EPS	9.04	10.68	11.11	23.64	9.91	6.29	7.30	8.56	6.75	6.84
Diluted EPS	9.01	10.64	11.06	23.50	9.87	6.29	7.29	8.54	6.73	6.81
Average shares (basic)	175	175	175	175	175	—	—	—	—	—
Average shares (diluted)	176	176	176	176	176	175	175	174	174	174
Dividend per share	12.00	12.00	12.00	8.00	8.00	—	—	—	—	—