Public Storage (PSA) Earnings History
Annual and quarterly earnings data from 1986 to 2025
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EPS Growth Rates (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 72.8% | 70.6% | 37.3% |
| 2024 | 73.2% | 46.9% | 44.1% |
| 2023 | 74.6% | 51.3% | 47.6% |
| 2022 | 74.8% | 51.9% | 104.0% |
| 2021 | 73.0% | 49.9% | 57.2% |
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Public Storage (PSA) Earnings Overview
As of February 28, 2026, Public Storage (PSA) reported trailing twelve-month net income of $1.89B, reflecting -0.2% year-over-year growth. The company earned $10.76 per diluted share over the past four quarters, with a net profit margin of 0.4%.
Looking at the long-term picture, PSA's 5-year EPS compound annual growth rate (CAGR) stands at +7.5%, showing solid earnings momentum. The company achieved its highest annual net income of $4.35B in fiscal 2022.
Public Storage maintains positive profitability with a gross margin of 0.7%, operating margin of 0.7%, and net margin of 0.4%. The company continues to generate positive earnings from operations. View revenue history →
Compared to industry peers including EXR ($953M net income, 0.3% margin), CUBE ($357M net income, 0.4% margin), NSA ($74M net income, 0.1% margin), PSA has outperformed on profitability metrics. Compare PSA vs EXR →
Peer Comparison
Earnings metrics vs industry competitors
| Company | TTM Net Income | TTM EPS | Net Margin | ROE | YoY Growth | Compare |
|---|---|---|---|---|---|---|
PSACurrent | $1.9B | $10.76 | 0.4% | 0.2% | -0.2% | — |
EXR | $953M | $4.50 | 0.3% | 0.1% | -0.1% | |
CUBE | $357M | $1.56 | 0.4% | 0.1% | -0.1% | |
NSA | $74M | $0.96 | 0.1% | 0.0% | -0.4% | |
SELF | $2M | $0.16 | 0.2% | 0.0% | -0.3% |
Historical Data
40 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.80B | -13.3% | $3.41B | $9.01 | 37.3% | 70.6% |
| 2024 | $2.07B | -3.6% | $2.20B | $10.64 | 44.1% | 46.9% |
| 2023 | $2.15B | -50.6% | $2.32B | $11.06 | 47.6% | 51.3% |
| 2022 | $4.35B | +122.7% | $2.17B | $23.50 | 104.0% | 51.9% |
| 2021 | $1.95B | +43.9% | $1.71B | $9.87 | 57.2% | 49.9% |
| 2020 | $1.36B | -10.7% | $1.41B | $6.29 | 46.6% | 48.4% |
| 2019 | $1.52B | -11.1% | $1.47B | $7.29 | 53.3% | 51.4% |
| 2018 | $1.71B | +18.6% | $1.41B | $9.82 | 62.0% | 51.2% |
| 2017 | $1.44B | -0.8% | $1.42B | $6.73 | 54.0% | 53.3% |
| 2016 | $1.45B | +10.9% | $1.37B | $6.81 | 56.8% | 53.7% |
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Start ComparisonFrequently Asked Questions
Is PSA growing earnings?
PSA EPS of $10.76 reflects slowing growth at -0.2%, below the 5-year CAGR of +7.5%. TTM net income is $1.9B. Expansion rate has moderated.
What are PSA's profit margins?
Public Storage net margin is +0.4%, with operating margin at +0.7%. Below-average margins reflect competitive or cost pressures.
How consistent are PSA's earnings?
PSA earnings data spans 1986-2025. The current earnings trend is -0.2% YoY. Historical data enables comparison across business cycles.