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Side-by-side financial comparison of Public Storage (PSA) and RENAISSANCERE HOLDINGS LTD (RNR). Click either name above to swap in a different company.
RENAISSANCERE HOLDINGS LTD is the larger business by last-quarter revenue ($2.2B vs $1.2B, roughly 1.8× Public Storage). Public Storage runs the higher net margin — 41.7% vs 23.5%, a 18.2% gap on every dollar of revenue. On growth, Public Storage posted the faster year-over-year revenue change (3.3% vs -36.8%). Over the past eight quarters, Public Storage's revenue compounded faster (2.5% CAGR vs -11.9%).
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.
RenaissanceRe Holdings Ltd is a Bermudian provider of reinsurance, insurance and other related business services. The company operates in reinsurance, insurance and ventures.
PSA vs RNR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $2.2B |
| Net Profit | $507.1M | $515.8M |
| Gross Margin | — | — |
| Operating Margin | 40.7% | — |
| Net Margin | 41.7% | 23.5% |
| Revenue YoY | 3.3% | -36.8% |
| Net Profit YoY | -17.5% | 72.6% |
| EPS (diluted) | $2.59 | $6.57 |
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.
| Q1 26 | — | $2.2B | ||
| Q4 25 | $1.2B | $3.0B | ||
| Q3 25 | $1.2B | $3.2B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $1.2B | $3.5B | ||
| Q4 24 | $1.2B | $2.3B | ||
| Q3 24 | $1.2B | $4.0B | ||
| Q2 24 | $1.2B | $2.8B |
| Q1 26 | — | $515.8M | ||
| Q4 25 | $507.1M | $760.5M | ||
| Q3 25 | $511.1M | $916.5M | ||
| Q2 25 | $358.4M | $835.4M | ||
| Q1 25 | $407.8M | $170.0M | ||
| Q4 24 | $614.6M | $-189.7M | ||
| Q3 24 | $430.3M | $1.2B | ||
| Q2 24 | $518.1M | $503.9M |
| Q1 26 | — | — | ||
| Q4 25 | 40.7% | 42.5% | ||
| Q3 25 | 42.3% | 46.3% | ||
| Q2 25 | 30.4% | 41.8% | ||
| Q1 25 | 34.8% | -2.0% | ||
| Q4 24 | 52.4% | -3.6% | ||
| Q3 24 | 36.7% | 43.7% | ||
| Q2 24 | 44.6% | 25.0% |
| Q1 26 | — | 23.5% | ||
| Q4 25 | 41.7% | 25.6% | ||
| Q3 25 | 41.8% | 28.7% | ||
| Q2 25 | 29.8% | 26.1% | ||
| Q1 25 | 34.5% | 4.9% | ||
| Q4 24 | 52.2% | -8.3% | ||
| Q3 24 | 36.2% | 29.8% | ||
| Q2 24 | 44.2% | 17.8% |
| Q1 26 | — | $6.57 | ||
| Q4 25 | $2.59 | $16.16 | ||
| Q3 25 | $2.62 | $19.40 | ||
| Q2 25 | $1.76 | $17.20 | ||
| Q1 25 | $2.04 | $3.27 | ||
| Q4 24 | $3.22 | $-3.76 | ||
| Q3 24 | $2.16 | $22.62 | ||
| Q2 24 | $2.66 | $9.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $318.1M | $1.6B |
| Total DebtLower is stronger | $10.3B | — |
| Stockholders' EquityBook value | $9.2B | $4.3B |
| Total Assets | $20.2B | $53.7B |
| Debt / EquityLower = less leverage | 1.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.6B | ||
| Q4 25 | $318.1M | $1.7B | ||
| Q3 25 | $296.5M | $1.7B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $287.2M | $1.6B | ||
| Q4 24 | $447.4M | $1.7B | ||
| Q3 24 | $599.0M | $1.6B | ||
| Q2 24 | $542.3M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $10.3B | $2.3B | ||
| Q3 25 | $10.0B | $2.2B | ||
| Q2 25 | $10.4B | $2.3B | ||
| Q1 25 | $9.4B | $2.8B | ||
| Q4 24 | $9.4B | $1.9B | ||
| Q3 24 | $9.5B | $1.9B | ||
| Q2 24 | $9.4B | $2.0B |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $9.2B | $11.6B | ||
| Q3 25 | $9.3B | $11.5B | ||
| Q2 25 | $9.4B | $10.8B | ||
| Q1 25 | $9.6B | $10.3B | ||
| Q4 24 | $9.7B | $10.6B | ||
| Q3 24 | $9.6B | $11.2B | ||
| Q2 24 | $9.7B | $10.2B |
| Q1 26 | — | $53.7B | ||
| Q4 25 | $20.2B | $53.8B | ||
| Q3 25 | $20.1B | $54.5B | ||
| Q2 25 | $20.5B | $54.7B | ||
| Q1 25 | $19.6B | $53.6B | ||
| Q4 24 | $19.8B | $50.7B | ||
| Q3 24 | $19.8B | $52.8B | ||
| Q2 24 | $19.8B | $51.6B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.20× | ||
| Q3 25 | 1.08× | 0.19× | ||
| Q2 25 | 1.11× | 0.21× | ||
| Q1 25 | 0.99× | 0.27× | ||
| Q4 24 | 0.96× | 0.18× | ||
| Q3 24 | 0.99× | 0.17× | ||
| Q2 24 | 0.97× | 0.19× |
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 | $733.6M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.45× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $733.6M | $483.0M | ||
| Q3 25 | $875.1M | $1.6B | ||
| Q2 25 | $872.7M | $1.5B | ||
| Q1 25 | $705.1M | $157.8M | ||
| Q4 24 | $768.6M | $778.9M | ||
| Q3 24 | $798.8M | $1.5B | ||
| Q2 24 | $895.3M | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | 0.64× | ||
| Q3 25 | 1.71× | 1.73× | ||
| Q2 25 | 2.43× | 1.76× | ||
| Q1 25 | 1.73× | 0.93× | ||
| Q4 24 | 1.25× | — | ||
| Q3 24 | 1.86× | 1.26× | ||
| Q2 24 | 1.73× | 2.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
RNR
Segment breakdown not available.
