Financials in USD. Standardized financial statements.
A compact view of how Public Storage turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $4.82B | $4.70B | $4.52B | $4.18B | $3.42B | $2.92B | $2.86B | $2.76B | $2.67B | $2.56B |
| Revenue Growth? | +2.7% | +3.9% | +8.0% | +22.4% | +17.2% | +2.1% | +3.5% | +3.4% | +4.2% | 0.0% |
| Cost of Revenue? | $3.62B | $1.26B | $1.15B | $1.05B | $920.60M | $867.46M | $813.15M | $757.08M | $707.98M | $669.08M |
| Gross Profit? | $1.20B | $3.44B | $3.37B | $3.13B | $2.50B | $2.05B | $2.04B | $2.00B | $1.96B | $1.89B |
| Gross Margin? | +25.0% | +73.2% | +74.6% | +74.8% | +73.0% | +70.2% | +71.5% | +72.6% | +73.5% | +73.9% |
| Operating Expenses? | -$1.05B | $1.24B | $1.05B | $959.82M | $789.39M | $636.46M | $575.06M | $588.36M | $537.41M | $516.97M |
| Operating Income? | $2.25B | $2.20B | $2.32B | $2.17B | $1.71B | $1.41B | $1.47B | $1.41B | $1.42B | $1.37B |
| EBITDA? | $3.25B | $3.51B | $3.34B | $5.41B | $2.78B | $1.97B | $2.08B | $2.23B | $1.92B | $1.90B |
| Income Before Tax | $1.79B | $2.09B | $2.17B | $4.38B | $1.97B | $1.36B | $1.53B | $1.72B | $1.45B | $1.46B |
| Income Tax Expense | -$7.23M | $4.67M | $10.82M | $14.33M | $12.37M | $0 | $0 | $0 | $0 | $0 |
| Net Income? | $1.78B | $2.07B | $2.15B | $4.35B | $1.95B | $1.36B | $1.52B | $1.71B | $1.44B | $1.45B |
| EPS? | $9.04 | $10.68 | $11.11 | $23.64 | $9.91 | $6.29 | $7.30 | $9.84 | $6.75 | $6.84 |
| Diluted EPS? | $9.01 | $10.64 | $11.06 | $23.50 | $9.87 | $6.29 | $7.29 | $9.82 | $6.73 | $6.81 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality