Public Storage

Real Estate Self-Storage REITs Glendale, California Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.8B
                    3y CAGR +4.9%
                    
                    P28
                    
                    +2.7%
                    
                    Net income
                    FY2025
                
$1.8B
                    Net margin +37.0%
                    
                    P79
                    
                    -13.9%
                    
                    Total assets
                    FY2025
                
$20.2B
                    ROA +8.8%
                    
                    P94
                    
                    +2.3%
                    
                    Operating cash flow
                    FY2025
                
$3.2B
                    FCF margin +53.6%
                    
                    P93
                    
                    +1.9%

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

15 accounts · 10 years

Total assets $20.2B

Total liabilities $10.9B

Shareholders equity $9.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	6.6%	9.5%	8.2%	18.5%	21.5%	8.8%	14.4%	13.1%	16.2%	7.2%
Real Estate	389.8%	391.0%	407.0%	383.5%	448.1%	357.1%	343.5%	342.2%	345.9%	348.5%
Other Noncurrent Assets	22.5%	20.2%	23.3%	17.7%	39.2%	39.5%	40.2%	40.8%	40.1%	40.0%
Total Assets	418.9%	420.7%	438.5%	419.7%	508.8%	405.4%	398.1%	396.0%	402.2%	395.6%
Liabilities
Long Term Debt	212.6%	199.2%	201.5%	164.3%	218.8%	87.3%	66.6%	51.2%	53.6%	15.3%
Other Noncurrent Liabilities	12.7%	12.5%	13.3%	12.3%	14.1%	23.8%	13.4%	13.5%	12.6%	11.6%
Total Liabilities	225.3%	211.7%	214.8%	176.6%	233.0%	111.1%	80.1%	64.6%	66.3%	26.9%
Equity
Total Stockholders Equity	191.7%	206.8%	221.6%	240.9%	273.3%	293.6%	317.4%	330.5%	335.0%	367.6%
Preferred Stock	90.2%	92.6%	96.3%	104.0%	120.0%	130.1%	142.4%	145.9%	150.8%	170.6%
Common Stock	0.4%	0.4%	0.4%	0.4%	0.5%	0.6%	0.6%	0.6%	0.7%	0.7%
Additional Paid In Capital	127.4%	130.3%	132.4%	141.0%	170.4%	195.8%	200.0%	207.2%	211.7%	219.1%
Retained Earnings	-25.3%	-14.9%	-5.9%	-2.6%	-16.1%	-31.4%	-23.3%	-20.9%	-25.3%	-19.0%
Accumulated Other Comprehensive Income	-1.0%	-1.5%	-1.5%	-1.9%	-1.6%	-1.5%	-2.3%	-2.3%	-2.8%	-3.7%
Noncontrolling Interest	1.9%	2.2%	2.1%	2.2%	0.6%	0.6%	0.6%	0.9%	0.9%	1.2%
Total Liabilitiesand Equity	418.9%	420.7%	438.5%	419.7%	508.8%	405.4%	398.1%	396.0%	402.2%	395.6%

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $4.8B

Operating income Not reported

Net income $1.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Depreciation and Amortization	23.9%	24.1%	21.5%	21.2%	20.9%	19.0%	18.0%	17.5%	17.0%	—
Expenses Selling,General and Administrative	2.2%	2.3%	1.8%	1.7%	2.2%	2.9%	2.2%	3.8%	3.1%	3.3%
Other Income Expense Interest Expense	6.3%	6.1%	4.5%	3.3%	2.7%	1.9%	1.6%	1.2%	0.5%	0.2%
Other Income Expense Other Income/expense	-3.3%	3.7%	1.2%	56.1%	10.5%	—	—	—	—	—
Other Income Expense Income Before Tax	37.1%	44.5%	48.1%	104.7%	57.7%	—	—	—	—	—
Income Tax Income Tax Expense	-0.1%	0.1%	0.2%	0.3%	0.4%	—	—	—	—	—
net Income Other Items Below Tax	-4.4%	-4.5%	-4.7%	-5.4%	-6.7%	-8.8%	-7.0%	2.2%	-9.0%	-9.3%
net Income net Income	37.0%	44.1%	47.6%	104.0%	57.2%	46.6%	53.3%	62.0%	54.0%	56.8%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	3.6%	3.7%	3.9%	4.2%	5.1%	6.0%	6.1%	6.3%	6.5%	6.8%

Cash Flow Statement

Operating, investing, and financing flows

15 accounts · 10 years

Operating cash flow $3.2B

Investing cash flow $-1.7B

Financing cash flow $-1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	66.1%	66.6%	71.9%	74.5%	74.5%	70.1%	72.4%	74.8%	73.9%	76.0%
Operating Activities net Income	37.3%	44.4%	47.8%	104.4%	57.4%	46.7%	53.4%	62.2%	54.3%	57.0%
Operating Activities Depreciation and Amortization	23.9%	24.1%	21.5%	21.2%	20.9%	—	18.0%	17.5%	17.0%	16.9%
Operating Activities Stock Based Compensation	0.8%	1.0%	0.9%	1.4%	1.8%	1.1%	0.9%	2.5%	1.4%	1.5%
Operating Activities Other Non Cash Items	4.1%	-2.8%	1.7%	-52.5%	-5.5%	6.1%	2.8%	-7.5%	2.2%	0.6%
Investing Activities Capital Expenditures	-12.4%	-15.9%	-66.5%	-18.5%	-16.2%	-39.5%	-31.9%	-24.0%	-27.5%	-13.7%
Investing Activities Other Investing Activities	-2.9%	0.2%	-1.4%	63.4%	1.0%	1.2%	0.4%	5.3%	-0.1%	2.7%
Investing Activities net Cash From Investing Activities	-34.9%	-21.4%	-78.3%	26.8%	-162.9%	-38.3%	-31.4%	-18.7%	-27.6%	-27.3%
Financing Activities Proceeds From Debt	28.1%	24.5%	48.3%	0.0%	147.5%	18.7%	17.4%	—	37.2%	4.4%
Financing Activities Repayment of Debt	-13.5%	-17.2%	-0.2%	-12.3%	-0.1%	-0.1%	-0.1%	-0.1%	-0.1%	-1.4%
Financing Activities Dividends Paid	-48.3%	-49.4%	-51.4%	-94.3%	-46.7%	-55.3%	-56.6%	-58.7%	-61.4%	-59.1%
Financing Activities Repurchase of Common Stock	0.0%	-4.3%	0.0%	0.0%	—	—	—	—	—	—
Financing Activities Other Financing Activities	-0.1%	2.1%	0.8%	6.3%	1.7%	-0.2%	-0.0%	0.1%	-12.9%	11.2%
Financing Activities net Cash From Financing Activities	-33.8%	-44.3%	-2.5%	-100.3%	102.4%	-36.9%	-39.3%	-58.7%	-37.2%	-44.9%
Cash Reconciliation net Change In Cash	-2.7%	1.0%	-9.0%	1.0%	14.0%	-5.2%	1.7%	-2.6%	9.1%	3.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+37.0%	+44.1%	+47.6%	+104.0%	+57.2%	+46.6%	+53.3%	+62.0%	+54.0%	+56.8%
FCF margin	+53.6%	+50.7%	+5.4%	+56.0%	+58.3%	+30.6%	+40.6%	+50.8%	+46.4%	+62.3%
Growth
Revenue CAGR (3y)	+4.9%	+11.2%	+15.7%	+13.6%	+7.4%	+3.0%	+3.7%	+5.0%	+7.0%	+9.2%
Returns
ROE	+19.3%	+21.3%	+21.5%	+43.2%	+20.9%	+15.9%	+16.8%	+18.8%	+16.1%	+15.4%
ROA	+8.8%	+10.5%	+10.8%	+24.8%	+11.2%	+11.5%	+13.4%	+15.7%	+13.4%	+14.3%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	1.18x	1.02x	0.97x	0.73x	0.85x	0.38x	0.25x	0.20x	0.20x	0.07x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.24x	0.24x	0.23x	0.24x	0.20x	0.25x	0.25x	0.25x	0.25x	0.25x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Public Storage

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