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Side-by-side financial comparison of Public Storage (PSA) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
Public Storage is the larger business by last-quarter revenue ($1.2B vs $846.8M, roughly 1.4× Trade Desk (The)). Public Storage runs the higher net margin — 41.7% vs 22.1%, a 19.6% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs 3.3%). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% 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.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
PSA vs TTD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $846.8M |
| Net Profit | $507.1M | $186.9M |
| Gross Margin | — | 80.7% |
| Operating Margin | 40.7% | 30.3% |
| Net Margin | 41.7% | 22.1% |
| Revenue YoY | 3.3% | 14.3% |
| Net Profit YoY | -17.5% | 2.6% |
| EPS (diluted) | $2.59 | $0.39 |
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 | $1.2B | $846.8M | ||
| Q3 25 | $1.2B | $739.4M | ||
| Q2 25 | $1.2B | $694.0M | ||
| Q1 25 | $1.2B | $616.0M | ||
| Q4 24 | $1.2B | $741.0M | ||
| Q3 24 | $1.2B | $628.0M | ||
| Q2 24 | $1.2B | $584.5M | ||
| Q1 24 | $1.2B | $491.3M |
| Q4 25 | $507.1M | $186.9M | ||
| Q3 25 | $511.1M | $115.5M | ||
| Q2 25 | $358.4M | $90.1M | ||
| Q1 25 | $407.8M | $50.7M | ||
| Q4 24 | $614.6M | $182.2M | ||
| Q3 24 | $430.3M | $94.2M | ||
| Q2 24 | $518.1M | $85.0M | ||
| Q1 24 | $508.9M | $31.7M |
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 78.1% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | — | 80.5% | ||
| Q2 24 | — | 81.1% | ||
| Q1 24 | — | 78.9% |
| Q4 25 | 40.7% | 30.3% | ||
| Q3 25 | 42.3% | 21.8% | ||
| Q2 25 | 30.4% | 16.8% | ||
| Q1 25 | 34.8% | 8.8% | ||
| Q4 24 | 52.4% | 26.4% | ||
| Q3 24 | 36.7% | 17.3% | ||
| Q2 24 | 44.6% | 16.2% | ||
| Q1 24 | 44.3% | 5.8% |
| Q4 25 | 41.7% | 22.1% | ||
| Q3 25 | 41.8% | 15.6% | ||
| Q2 25 | 29.8% | 13.0% | ||
| Q1 25 | 34.5% | 8.2% | ||
| Q4 24 | 52.2% | 24.6% | ||
| Q3 24 | 36.2% | 15.0% | ||
| Q2 24 | 44.2% | 14.5% | ||
| Q1 24 | 44.0% | 6.4% |
| Q4 25 | $2.59 | $0.39 | ||
| Q3 25 | $2.62 | $0.23 | ||
| Q2 25 | $1.76 | $0.18 | ||
| Q1 25 | $2.04 | $0.10 | ||
| Q4 24 | $3.22 | $0.36 | ||
| Q3 24 | $2.16 | $0.19 | ||
| Q2 24 | $2.66 | $0.17 | ||
| Q1 24 | $2.60 | $0.06 |
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 | $1.3B |
| Total DebtLower is stronger | $10.3B | — |
| Stockholders' EquityBook value | $9.2B | $2.5B |
| Total Assets | $20.2B | $6.2B |
| Debt / EquityLower = less leverage | 1.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.1M | $1.3B | ||
| Q3 25 | $296.5M | $1.4B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $287.2M | $1.7B | ||
| Q4 24 | $447.4M | $1.9B | ||
| Q3 24 | $599.0M | $1.7B | ||
| Q2 24 | $542.3M | $1.5B | ||
| Q1 24 | $271.6M | $1.4B |
| Q4 25 | $10.3B | — | ||
| Q3 25 | $10.0B | — | ||
| Q2 25 | $10.4B | — | ||
| Q1 25 | $9.4B | — | ||
| Q4 24 | $9.4B | — | ||
| Q3 24 | $9.5B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.1B | — |
| Q4 25 | $9.2B | $2.5B | ||
| Q3 25 | $9.3B | $2.6B | ||
| Q2 25 | $9.4B | $2.7B | ||
| Q1 25 | $9.6B | $2.7B | ||
| Q4 24 | $9.7B | $2.9B | ||
| Q3 24 | $9.6B | $2.6B | ||
| Q2 24 | $9.7B | $2.4B | ||
| Q1 24 | $9.9B | $2.2B |
| Q4 25 | $20.2B | $6.2B | ||
| Q3 25 | $20.1B | $5.9B | ||
| Q2 25 | $20.5B | $6.0B | ||
| Q1 25 | $19.6B | $5.7B | ||
| Q4 24 | $19.8B | $6.1B | ||
| Q3 24 | $19.8B | $5.5B | ||
| Q2 24 | $19.8B | $5.2B | ||
| Q1 24 | $19.6B | $4.7B |
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 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 | $733.6M | $311.6M |
| Free Cash FlowOCF − Capex | — | $285.3M |
| FCF MarginFCF / Revenue | — | 33.7% |
| Capex IntensityCapex / Revenue | — | 3.1% |
| Cash ConversionOCF / Net Profit | 1.45× | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | — | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $733.6M | $311.6M | ||
| Q3 25 | $875.1M | $224.7M | ||
| Q2 25 | $872.7M | $165.0M | ||
| Q1 25 | $705.1M | $291.4M | ||
| Q4 24 | $768.6M | $199.4M | ||
| Q3 24 | $798.8M | $273.3M | ||
| Q2 24 | $895.3M | $81.3M | ||
| Q1 24 | $665.6M | $185.5M |
| Q4 25 | — | $285.3M | ||
| Q3 25 | — | $158.3M | ||
| Q2 25 | — | $119.8M | ||
| Q1 25 | — | $232.3M | ||
| Q4 24 | — | $179.2M | ||
| Q3 24 | — | $224.6M | ||
| Q2 24 | — | $59.1M | ||
| Q1 24 | — | $178.2M |
| Q4 25 | — | 33.7% | ||
| Q3 25 | — | 21.4% | ||
| Q2 25 | — | 17.3% | ||
| Q1 25 | — | 37.7% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 10.1% | ||
| Q1 24 | — | 36.3% |
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 1.5% |
| Q4 25 | 1.45× | 1.67× | ||
| Q3 25 | 1.71× | 1.94× | ||
| Q2 25 | 2.43× | 1.83× | ||
| Q1 25 | 1.73× | 5.75× | ||
| Q4 24 | 1.25× | 1.09× | ||
| Q3 24 | 1.86× | 2.90× | ||
| Q2 24 | 1.73× | 0.96× | ||
| Q1 24 | 1.31× | 5.86× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
