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Side-by-side financial comparison of PACS Group, Inc. (PACS) and Public Storage (PSA). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.1× Public Storage). Public Storage runs the higher net margin — 41.7% vs 4.4%, a 37.3% gap on every dollar of revenue. On growth, PACS Group, Inc. posted the faster year-over-year revenue change (18.4% vs 3.3%). Over the past eight quarters, PACS Group, Inc.'s revenue compounded faster (20.5% CAGR vs 2.5%).
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.
PACS vs PSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.2B |
| Net Profit | $59.7M | $507.1M |
| Gross Margin | — | — |
| Operating Margin | 7.0% | 40.7% |
| Net Margin | 4.4% | 41.7% |
| Revenue YoY | 18.4% | 3.3% |
| Net Profit YoY | 3022.5% | -17.5% |
| EPS (diluted) | $0.42 | $2.59 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $981.4M | $1.2B | ||
| Q1 24 | $934.3M | $1.2B |
| Q4 25 | $59.7M | $507.1M | ||
| Q3 25 | $52.4M | $511.1M | ||
| Q2 25 | $51.0M | $358.4M | ||
| Q1 25 | $28.5M | $407.8M | ||
| Q4 24 | $1.9M | $614.6M | ||
| Q3 24 | $15.6M | $430.3M | ||
| Q2 24 | $-10.9M | $518.1M | ||
| Q1 24 | $49.1M | $508.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.1% | — | ||
| Q2 24 | 22.3% | — | ||
| Q1 24 | 21.2% | — |
| Q4 25 | 7.0% | 40.7% | ||
| Q3 25 | 6.4% | 42.3% | ||
| Q2 25 | 6.2% | 30.4% | ||
| Q1 25 | 3.8% | 34.8% | ||
| Q4 24 | 1.7% | 52.4% | ||
| Q3 24 | 2.2% | 36.7% | ||
| Q2 24 | 0.1% | 44.6% | ||
| Q1 24 | 8.6% | 44.3% |
| Q4 25 | 4.4% | 41.7% | ||
| Q3 25 | 3.9% | 41.8% | ||
| Q2 25 | 3.9% | 29.8% | ||
| Q1 25 | 2.2% | 34.5% | ||
| Q4 24 | 0.2% | 52.2% | ||
| Q3 24 | 1.5% | 36.2% | ||
| Q2 24 | -1.1% | 44.2% | ||
| Q1 24 | 5.3% | 44.0% |
| Q4 25 | $0.42 | $2.59 | ||
| Q3 25 | $0.32 | $2.62 | ||
| Q2 25 | $0.31 | $1.76 | ||
| Q1 25 | $0.17 | $2.04 | ||
| Q4 24 | $-0.03 | $3.22 | ||
| Q3 24 | $0.10 | $2.16 | ||
| Q2 24 | $-0.07 | $2.66 | ||
| Q1 24 | $0.38 | $2.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $197.0M | $318.1M |
| Total DebtLower is stronger | $353.2M | $10.3B |
| Stockholders' EquityBook value | $946.8M | $9.2B |
| Total Assets | $5.6B | $20.2B |
| Debt / EquityLower = less leverage | 0.37× | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $197.0M | $318.1M | ||
| Q3 25 | $355.7M | $296.5M | ||
| Q2 25 | $294.2M | $1.1B | ||
| Q1 25 | $287.5M | $287.2M | ||
| Q4 24 | $157.7M | $447.4M | ||
| Q3 24 | $49.5M | $599.0M | ||
| Q2 24 | $73.4M | $542.3M | ||
| Q1 24 | $81.2M | $271.6M |
| Q4 25 | $353.2M | $10.3B | ||
| Q3 25 | — | $10.0B | ||
| Q2 25 | — | $10.4B | ||
| Q1 25 | — | $9.4B | ||
| Q4 24 | $411.9M | $9.4B | ||
| Q3 24 | — | $9.5B | ||
| Q2 24 | — | $9.4B | ||
| Q1 24 | — | $9.1B |
| Q4 25 | $946.8M | $9.2B | ||
| Q3 25 | $871.3M | $9.3B | ||
| Q2 25 | $806.8M | $9.4B | ||
| Q1 25 | $750.2M | $9.6B | ||
| Q4 24 | $709.6M | $9.7B | ||
| Q3 24 | $660.0M | $9.6B | ||
| Q2 24 | $572.1M | $9.7B | ||
| Q1 24 | $128.0M | $9.9B |
| Q4 25 | $5.6B | $20.2B | ||
| Q3 25 | $5.6B | $20.1B | ||
| Q2 25 | $5.5B | $20.5B | ||
| Q1 25 | $5.5B | $19.6B | ||
| Q4 24 | $5.2B | $19.8B | ||
| Q3 24 | $4.5B | $19.8B | ||
| Q2 24 | $3.9B | $19.8B | ||
| Q1 24 | $3.9B | $19.6B |
| Q4 25 | 0.37× | 1.11× | ||
| Q3 25 | — | 1.08× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 0.58× | 0.96× | ||
| Q3 24 | — | 0.99× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 0.91× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.4M | $733.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -0.06× | 1.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.4M | $733.6M | ||
| Q3 25 | $204.8M | $875.1M | ||
| Q2 25 | $52.6M | $872.7M | ||
| Q1 25 | $150.2M | $705.1M | ||
| Q4 24 | $64.6M | $768.6M | ||
| Q3 24 | $209.2M | $798.8M | ||
| Q2 24 | $34.8M | $895.3M | ||
| Q1 24 | $58.8M | $665.6M |
| Q4 25 | -0.06× | 1.45× | ||
| Q3 25 | 3.91× | 1.71× | ||
| Q2 25 | 1.03× | 2.43× | ||
| Q1 25 | 5.28× | 1.73× | ||
| Q4 24 | 33.78× | 1.25× | ||
| Q3 24 | 13.39× | 1.86× | ||
| Q2 24 | — | 1.73× | ||
| Q1 24 | 1.20× | 1.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PACS
Segment breakdown not available.
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
