vs
Side-by-side financial comparison of Public Storage (PSA) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
Public Storage is the larger business by last-quarter revenue ($1.2B vs $654.0M, roughly 1.9× ZILLOW GROUP, INC.). Public Storage runs the higher net margin — 41.7% vs 0.5%, a 41.2% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 3.3%). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% 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.
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
PSA vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $654.0M |
| Net Profit | $507.1M | $3.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 40.7% | -1.7% |
| Net Margin | 41.7% | 0.5% |
| Revenue YoY | 3.3% | 18.1% |
| Net Profit YoY | -17.5% | 105.8% |
| EPS (diluted) | $2.59 | $0.01 |
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 | $654.0M | ||
| Q3 25 | $1.2B | $676.0M | ||
| Q2 25 | $1.2B | $655.0M | ||
| Q1 25 | $1.2B | $598.0M | ||
| Q4 24 | $1.2B | $554.0M | ||
| Q3 24 | $1.2B | $581.0M | ||
| Q2 24 | $1.2B | $572.0M | ||
| Q1 24 | $1.2B | $529.0M |
| Q4 25 | $507.1M | $3.0M | ||
| Q3 25 | $511.1M | $10.0M | ||
| Q2 25 | $358.4M | $2.0M | ||
| Q1 25 | $407.8M | $8.0M | ||
| Q4 24 | $614.6M | $-52.0M | ||
| Q3 24 | $430.3M | $-20.0M | ||
| Q2 24 | $518.1M | $-17.0M | ||
| Q1 24 | $508.9M | $-23.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.6% | ||
| Q2 25 | — | 74.7% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
| Q4 25 | 40.7% | -1.7% | ||
| Q3 25 | 42.3% | -0.4% | ||
| Q2 25 | 30.4% | -1.7% | ||
| Q1 25 | 34.8% | -1.5% | ||
| Q4 24 | 52.4% | -12.5% | ||
| Q3 24 | 36.7% | -7.7% | ||
| Q2 24 | 44.6% | -6.6% | ||
| Q1 24 | 44.3% | -8.5% |
| Q4 25 | 41.7% | 0.5% | ||
| Q3 25 | 41.8% | 1.5% | ||
| Q2 25 | 29.8% | 0.3% | ||
| Q1 25 | 34.5% | 1.3% | ||
| Q4 24 | 52.2% | -9.4% | ||
| Q3 24 | 36.2% | -3.4% | ||
| Q2 24 | 44.2% | -3.0% | ||
| Q1 24 | 44.0% | -4.3% |
| Q4 25 | $2.59 | $0.01 | ||
| Q3 25 | $2.62 | $0.04 | ||
| Q2 25 | $1.76 | $0.01 | ||
| Q1 25 | $2.04 | $0.03 | ||
| Q4 24 | $3.22 | $-0.23 | ||
| Q3 24 | $2.16 | $-0.08 | ||
| Q2 24 | $2.66 | $-0.07 | ||
| Q1 24 | $2.60 | $-0.10 |
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 | $768.0M |
| Total DebtLower is stronger | $10.3B | — |
| Stockholders' EquityBook value | $9.2B | $4.9B |
| Total Assets | $20.2B | $5.7B |
| Debt / EquityLower = less leverage | 1.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.1M | $768.0M | ||
| Q3 25 | $296.5M | $874.0M | ||
| Q2 25 | $1.1B | $587.0M | ||
| Q1 25 | $287.2M | $914.0M | ||
| Q4 24 | $447.4M | $1.1B | ||
| Q3 24 | $599.0M | $1.1B | ||
| Q2 24 | $542.3M | $1.2B | ||
| 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 | $4.9B | ||
| Q3 25 | $9.3B | $5.0B | ||
| Q2 25 | $9.4B | $4.7B | ||
| Q1 25 | $9.6B | $4.8B | ||
| Q4 24 | $9.7B | $4.8B | ||
| Q3 24 | $9.6B | $4.7B | ||
| Q2 24 | $9.7B | $4.5B | ||
| Q1 24 | $9.9B | $4.7B |
| Q4 25 | $20.2B | $5.7B | ||
| Q3 25 | $20.1B | $5.7B | ||
| Q2 25 | $20.5B | $5.4B | ||
| Q1 25 | $19.6B | $5.7B | ||
| Q4 24 | $19.8B | $5.8B | ||
| Q3 24 | $19.8B | $6.2B | ||
| Q2 24 | $19.8B | $6.6B | ||
| Q1 24 | $19.6B | $6.8B |
| 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 | $72.0M |
| Free Cash FlowOCF − Capex | — | $44.0M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | 1.45× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $733.6M | $72.0M | ||
| Q3 25 | $875.1M | $105.0M | ||
| Q2 25 | $872.7M | $87.0M | ||
| Q1 25 | $705.1M | $104.0M | ||
| Q4 24 | $768.6M | $122.0M | ||
| Q3 24 | $798.8M | $171.0M | ||
| Q2 24 | $895.3M | $55.0M | ||
| Q1 24 | $665.6M | $80.0M |
| Q4 25 | — | $44.0M | ||
| Q3 25 | — | $73.0M | ||
| Q2 25 | — | $50.0M | ||
| Q1 25 | — | $68.0M | ||
| Q4 24 | — | $88.0M | ||
| Q3 24 | — | $138.0M | ||
| Q2 24 | — | $18.0M | ||
| Q1 24 | — | $41.0M |
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 23.8% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 7.4% |
| Q4 25 | 1.45× | 24.00× | ||
| Q3 25 | 1.71× | 10.50× | ||
| Q2 25 | 2.43× | 43.50× | ||
| Q1 25 | 1.73× | 13.00× | ||
| Q4 24 | 1.25× | — | ||
| Q3 24 | 1.86× | — | ||
| Q2 24 | 1.73× | — | ||
| Q1 24 | 1.31× | — |
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% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
