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Public Storage
PSAReal EstateGenerated Jul 5, 2026, 08:09 PM UTC
PSA (Public Storage) analytical snapshot. Revenue grew +8.0% YoY to $4.52B. 5-year revenue CAGR +9.6%; 10y CAGR +8.4%. Net margin at 47.55% (expanding ▲). Market cap $57.87B at $329.64 per share. Trailing P/E 29.80, P/S 12.81, P/B 6.27. EV/Operating income ≈ 54.74 (EV $67.44B). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score 8 (data confidence 74%). Descriptive analytics from public filings — not investment advice.
Market cap
$57.87B
175.55M shares
Price
$329.64
NYQ
P/E (ttm)
29.80
Revenue (FY)
$4.52B
YoY +8.0%
Net margin
47.55%
▲ 1.00pp
Free cash flow
—
Risk level
Elevated
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 35Improving
60% conf
Revenue grew +8.0% YoY to $4.52B. 5-year revenue CAGR +9.6%; 10y CAGR +8.4%. Net margin at 47.55% (expanding ▲).
- Revenue grew +8.0% YoY to $4.52B.
- 5-year revenue CAGR +9.6%; 10y CAGR +8.4%.
- Net margin at 47.55% (expanding ▲).
- Return on equity 22.12%, ROA 10.87%, ROIC 0.00%.
- Gross margin 0.00%, operating margin 0.00%.
- Net income down ▼ +50.6% YoY.
- Debt/equity 1.05, current ratio —, net debt $9.57B.
- Asset turnover 0.23 — capital efficiency.
Revenue (FY)
$4.52B
YoY +8.0%
Net margin
47.55%
▲ 1.00pp
ROE
22.12%
ROA 10.87%
ROIC
0.00%
EPS (diluted)
$11.06
FY2025
Free cash flow
—
Debt / equity
1.05
Cash $134.6M
Current ratio
—
Equity $9.22B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | $2.18B | — | 71.83 | 48.47 | 52.55 | — | 12.48 |
| 2017 | $2.38B | +9.4% | 73.32 | 51.73 | 55.06 | — | 13.93 |
| 2018 | $2.56B | +7.5% | 73.87 | 0.00 | 56.77 | — | 16.26 |
| 2019 | $2.67B | +4.2% | 0.00 | 0.00 | 54.05 | — | 15.81 |
| 2020 | $2.76B | +3.4% | 0.00 | 0.00 | 62.00 | — | 18.88 |
| 2021 | $2.86B | +3.5% | 0.00 | 0.00 | 53.26 | — | 17.77 |
| 2022 | $2.92B | +2.1% | 0.00 | 0.00 | 46.56 | — | 14.54 |
| 2023 | $3.42B | +17.2% | 0.00 | 0.00 | 57.18 | — | 19.39 |
| 2024 | $4.18B | +22.4% | 0.00 | 0.00 | 103.99 | — | 43.43 |
| 2025 | $4.52B | +8.0% | 0.00 | 0.00 | 47.55 | — | 22.12 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $1.18B | +2.2% | — | 34.47% |
| Jun 30, 2025 | $2.38B | +2.3% | +101.5% | 32.14% |
| Jun 30, 2025 | $1.20B | -48.5% | -49.6% | 63.79% |
| Sep 30, 2025 | $3.61B | +2.6% | +200.4% | 35.40% |
| Sep 30, 2025 | $1.22B | -65.2% | -66.1% | 104.35% |
| Mar 31, 2026 | $1.22B | +2.9% | -0.5% | 43.22% |
Revenue (annual, SEC 10-K)
2016: 2,177
2017: 2,382
2018: 2,561
2019: 2,669
2020: 2,760
2021: 2,855
2022: 2,915
2023: 3,416
2024: 4,182
2025: 4,518
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 12, 2026. Latest quarterly report (10-Q) filed Apr 27, 2026. 21 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 12, 2026.
- Latest quarterly report (10-Q) filed Apr 27, 2026.
- 21 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Public Storage; broad institutional reporting.
- Recent filers include LONDON CO OF VIRGINIA, LONDON CO OF VIRGINIA, HEITMAN REAL ESTATE SECURITIES LLC.
- 10 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 10 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 12, 2026
Annual report
Latest 10-Q
Apr 27, 2026
8-K (recent)
21
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
10
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| LONDON CO OF VIRGINIA | 13F-HR | Aug 4, 2008 |
| LONDON CO OF VIRGINIA | 13F-HR | May 7, 2008 |
| HEITMAN REAL ESTATE SECURITIES LLC | 13F-HR | Feb 7, 2003 |
| Friedberg Investment Management | 13F-HR | Aug 3, 2009 |
| HEITMAN REAL ESTATE SECURITIES LLC | 13F-HR | May 10, 2002 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jun 25, 2026 | 8-K | 8-K |
| Jun 22, 2026 | 8-K | 8-K |
| Jun 1, 2026 | 8-K | 8-K |
| May 11, 2026 | 8-K | 8-K |
| Apr 27, 2026 | 8-K | 8-K |
| Apr 6, 2026 | 8-K | 8-K |
| Apr 2, 2026 | 8-K | 8-K |
| Mar 17, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -61Deteriorating
62% conf
4 risk signal(s), 1 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. 4 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- NEW: Going concern doubt in latest filing: The term "going concern" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 3 filing(s).
- Material weakness in internal controls: The term "material weakness" appears in 19 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 3 filing(s).
- Restatement of financial statements: The term "restate" "financial statements" appears in 15 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 1.51x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: 4 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 8 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 3 new risk-language term(s) detected in filing text: Going concern doubt, Substantial doubt about ability to continue, Off-balance sheet arrangements.
- Ongoing high-severity risk language: Material weakness in internal controls, Restatement of financial statements.
Revenue
$4.52B
+8.0% YoY
Gross profit
$1.89B
+8.3% YoY
Operating income
$1.23B
+16.7% YoY
Net income
$2.15B
-50.6% YoY
Operating cash flow
$3.25B
+4.2% YoY
Total assets
$19.75B
-0.3% YoY
Total liabilities
$9.94B
+2.5% YoY
Long-term debt
$9.35B
+2.7% YoY
Filing quality score
75/100
8 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $4.18B | $4.52B | $335.5M | +8.0% |
| Gross profit | $1.75B | $1.89B | $145.3M | +8.3% |
| Operating income | $1.06B | $1.23B | $176.6M | +16.7% |
| Net income | $4.35B | $2.15B | $-2.20B | -50.6% |
| Operating cash flow | $3.12B | $3.25B | $129.5M | +4.2% |
| Total assets | $19.81B | $19.75B | $-54.3M | -0.3% |
| Total liabilities | $9.70B | $9.94B | $239.0M | +2.5% |
| Long-term debt | $9.10B | $9.35B | $249.8M | +2.7% |
| Cash & equivalents | $734.6M | $775.3M | $40.7M | +5.5% |
| Stockholders equity | $10.01B | $9.71B | $-300.6M | -3.0% |
| Interest expense | $136.3M | $201.1M | $64.8M | +47.5% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | HedgingAssetsNoncurrent, HedgingLiabilitiesNoncurrent, LinesOfCreditCurrent, NotesAndLoansPayable, OperatingIncomeLoss, PaymentsOfFinancingCosts, ProceedsFromLongTermLinesOfCredit, UnrealizedGainLossOnDerivatives |
| Removed | EffectiveIncomeTaxRateContinuingOperations, EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate, EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance, EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential, EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther, EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes, EffectiveIncomeTaxRateReconciliationTaxCredits, EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount, EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions, FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 3 | 0 | NEW |
| Material weakness in internal controls | high | 19 | 2 | Ongoing |
| Substantial doubt about ability to continue | high | 3 | 0 | NEW |
| Restatement of financial statements | high | 15 | 2 | Ongoing |
| Impairment charge | medium | 66 | 2 | Ongoing |
| Restructuring | medium | 13 | 1 | Ongoing |
| Off-balance sheet arrangements | medium | 57 | 0 | NEW |
| Related party transactions | low | 86 | 8 | Ongoing |
Filing signal breakdown
Red flags: 4
Positive: 1
Watch: 1
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $57.87B at $329.64 per share.
- ProPrice & TechnicalsPrice $329.64 — uptrend (above 200-DMA); 1-month momentum positive.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Elevated.
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Macro exposure
Rate-sensitive · High sensitivityMacro regime: Risk-on · Supportive. Public Storage is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewRevenue grew **+8.0%** YoY to $4.52B..
Risk
Elevated
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Rate-sensitive groupHow PSA stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Chubb Ltd. CB | 23 | Neutral |
| U.S. Bancorp USB | 17 | Neutral |
| Prologis Inc. PLD | 14 | Neutral |
| JPMorgan Chase & Co. JPM | 13 | Neutral |
| Bank of America Corp. BAC | 13 | Neutral |
| American Express Co. AXP | 11 | Neutral |
| Mastercard Inc. MA | 11 | Neutral |
| Visa Inc. V | 8 | Neutral |
| Public Storage PSA● you | 8 | Neutral |
| Dominion Energy D | 6 | Neutral |
| Charles Schwab Corp. SCHW | 6 | Neutral |
| Realty Income Corp. O | 4 | Neutral |
| NextEra Energy NEE | 0 | Neutral |
| Duke Energy Corp. DUK | 0 | Neutral |
| Wells Fargo & Co. WFC | -1 | Neutral |
| Digital Realty Trust DLR | -6 | Neutral |
| American Water Works AWK | -9 | Neutral |
| Goldman Sachs Group GS | -10 | Neutral |
| Citigroup Inc. C | -11 | Neutral |
| Morgan Stanley MS | -13 | Neutral |
| BlackRock Inc. BLK | -14 | Neutral |
| Crown Castle Inc. CCI | -18 | Neutral |
| American Tower Corp. AMT | -35 | Neutral |
| S&P Global SPGI | — | Neutral |
| Moody's Corp. MCO | — | Neutral |
| PNC Financial Services PNC | — | Neutral |
| MetLife Inc. MET | — | Neutral |
| American International Group AIG | — | Neutral |
| Southern Company SO | — | Neutral |
| American Electric Power AEP | — | Neutral |
| Equinix Inc. EQIX | — | Neutral |
| Simon Property Group SPG | — | Neutral |
| Truist Financial TFC | — | Neutral |
| Bank of New York Mellon BK | — | Neutral |
| Capital One Financial COF | — | Neutral |
| Travelers Cos. TRV | — | Neutral |
| Allstate Corp. ALL | — | Neutral |
| Marsh & McLennan MMC | — | Neutral |
| CME Group Inc. CME | — | Neutral |
| Exelon Corp. EXC | — | Neutral |
| Xcel Energy XEL | — | Neutral |
| Welltower Inc. WELL | — | Neutral |
| Equity Residential EQR | — | Neutral |