Public StoragePSAEarnings & Financial Report
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
Revenue
$1.2B
Gross Profit
N/A
Operating Profit
$364.7M
Net Profit
$358.4M
Gross Margin
N/A
Operating Margin
30.4%
Net Margin
29.8%
YoY Growth
2.4%
EPS
$1.76
Public Storage Q2 FY2025 Financial Summary
Public Storage reported revenue of $1.2B (up 2.4% YoY) for Q2 FY2025, with a net profit of $358.4M (down 30.8% YoY) (29.8% margin).
Key Financial Metrics
| Total Revenue | $1.2B |
|---|---|
| Net Profit | $358.4M |
| Gross Margin | N/A |
| Operating Margin | 30.4% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Public Storage Q2 FY2025 revenue of $1.2B breaks down across 2 segments, led by Self Storage Operations at $1.1B (93.1% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Self Storage Operations | $1.1B | 93.1% |
| Ancillary Operations | $82.4M | 6.9% |
Public Storage Revenue by Segment — Quarterly Trend
Public Storage revenue by segment across the last 4 reported quarters, showing how each business line (such as Self Storage Operations and Ancillary Operations) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Self Storage Operations | $1.1B | $1.1B | $1.1B | $1.1B |
| Ancillary Operations | $86.9M | $85.2M | $82.4M | $80.2M |
Public Storage Annual Revenue by Year
Public Storage annual revenue history includes year-by-year totals (for example, 2025 revenue was $4.8B).
| Year | Annual Revenue |
|---|---|
| 2025 | $4.8B |
| 2024 | $4.7B |
| 2023 | $4.5B |
| 2022 | $4.2B |
Public Storage Quarterly Revenue & Net Profit History
Public Storage results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $1.2B | +3.3% | $507.1M | 41.7% |
| Q3 FY2025 | $1.2B | +3.1% | $511.1M | 41.8% |
| Q2 FY2025 | $1.2B | +2.4% | $358.4M | 29.8% |
| Q1 FY2025 | $1.2B | +2.2% | $407.8M | 34.5% |
| Q4 FY2024 | $1.2B | +1.5% | $614.6M | 52.2% |
| Q3 FY2024 | $1.2B | +3.8% | $430.3M | 36.2% |
| Q2 FY2024 | $1.2B | +4.8% | $518.1M | 44.2% |
| Q1 FY2024 | $1.2B | +5.8% | $508.9M | 44.0% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.16B | $1.17B | $1.19B | $1.18B | $1.18B | $1.20B | $1.22B | $1.22B |
| YoY Growth | 5.8% | 4.8% | 3.8% | 1.5% | 2.2% | 2.4% | 3.1% | 3.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $19.62B | $19.79B | $19.80B | $19.75B | $19.62B | $20.54B | $20.11B | $20.21B |
| Liabilities | $9.57B | $9.99B | $10.09B | $9.94B | $9.95B | $11.07B | $10.71B | $10.87B |
| Equity | $9.95B | $9.71B | $9.61B | $9.71B | $9.57B | $9.37B | $9.31B | $9.25B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $665.6M | $895.3M | $798.8M | $768.6M | $705.1M | $872.7M | $875.1M | $733.6M |