Public Storage (PSA) Revenue History
Annual and quarterly revenue from 1986 to present
PSA Revenue Over Time (1986–2025)
PSA Revenue Growth History
35 of 39 years with positive growth- FY1986 revenue growth
- N/A
- FY1987 revenue growth
- +22.4%
- FY1988 revenue growth
- +4.9%
- FY1989 revenue growth
- -0.3%
- FY1990 revenue growth
- +16.2%
- FY1991 revenue growth
- +44.9%
- FY1992 revenue growth
- +40.0%
- FY1993 revenue growth
- +63.9%
- FY1994 revenue growth
- +28.3%
- FY1995 revenue growth
- +44.5%
- FY1996 revenue growth
- +59.4%
- FY1997 revenue growth
- +38.4%
- FY1998 revenue growth
- +18.0%
- FY1999 revenue growth
- +15.4%
- FY2000 revenue growth
- +10.5%
- FY2001 revenue growth
- +12.8%
- FY2002 revenue growth
- +6.8%
- FY2003 revenue growth
- +5.0%
- FY2004 revenue growth
- +7.3%
- FY2005 revenue growth
- +10.6%
- FY2006 revenue growth
- +30.3%
- FY2007 revenue growth
- +31.4%
- FY2008 revenue growth
- -5.2%
- FY2009 revenue growth
- -5.7%
- FY2010 revenue growth
- -0.6%
- FY2011 revenue growth
- +7.6%
- FY2012 revenue growth
- +6.1%
- FY2013 revenue growth
- +6.6%
- FY2014 revenue growth
- +10.8%
- FY2015 revenue growth
- +9.4%
- FY2016 revenue growth
- +7.5%
- FY2017 revenue growth
- +4.2%
- FY2018 revenue growth
- +3.4%
- FY2019 revenue growth
- +3.5%
- FY2020 revenue growth
- +2.1%
- FY2021 revenue growth
- +17.2%
- FY2022 revenue growth
- +22.4%
- FY2023 revenue growth
- +8.0%
- FY2024 revenue growth
- +3.9%
- FY2025 revenue growth
- +2.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $1.22B | +2.9% |
| Q4 2025 | $1.22B | +3.3% |
| Q3 2025 | $1.22B | +3.1% |
| Q2 2025 | $1.20B | +2.4% |
| Q1 2025 | $1.18B | +2.2% |
| Q4 2024 | $1.18B | +1.5% |
| Q3 2024 | $1.19B | +3.8% |
| Q2 2024 | $1.17B | +4.8% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
PSA's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
PSA Revenue Analysis (1986–2025)
Current Revenue & Growth
As of June 21, 2026, Public Storage (PSA) generated trailing twelve-month (TTM) revenue of $4.86 billion, reflecting modest growth of +2.9% year-over-year. The most recent quarter (Q1 2026) recorded $1.22 billion in revenue, up 0.2% sequentially.
Historical Growth Trajectory
PSA's 5-year compound annual growth rate (CAGR) stands at +10.6%, indicating consistent double-digit revenue growth. The 3-year CAGR of +4.9% is below the 5-year average, signalling a growth deceleration in recent years. Public Storage's highest annual revenue of $4.82 billion was recorded in 2025, an all-time high.
Revenue by Segment
PSA's revenue is primarily driven by Self Storage Operations (93%), and Ancillary Operations (7%). With over half of revenue concentrated in Self Storage Operations, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Real Estate sector peers — including EXR (+1.2% YoY), CUBE (+5.0% YoY), and NSA (-1.6% YoY) — PSA has underperformed the peer group in revenue growth. Compare PSA vs EXR →
PSA Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PSACurrent | $4.9B | +2.9% | +10.6% | 46.7% | |
 EXR | $3.4B | +1.2% | +19.6% | 44.1% | |
 CUBE | $1.1B | +5.0% | +10.6% | 40.0% | |
 NSA | $753M | -1.6% | +11.7% | 37.0% | |
 SPG | $6.4B | +10.9% | +6.7% | 49.9% | |
 PLD | $8.8B | +7.2% | +14.6% | 40.2% |
PSA Historical Revenue Data (1986–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.82B | +2.7% | $1.20B | 25.0% | $2.25B | 46.7% |
| 2024 | $4.70B | +3.9% | $3.44B | 73.2% | $2.20B | 46.9% |
| 2023 | $4.52B | +8.0% | $3.37B | 74.6% | $2.32B | 51.3% |
| 2022 | $4.18B | +22.4% | $3.13B | 74.8% | $2.17B | 51.9% |
| 2021 | $3.42B | +17.2% | $2.50B | 73.0% | $1.71B | 49.9% |
| 2020 | $2.92B | +2.1% | $2.05B | 70.2% | $1.41B | 48.4% |
| 2019 | $2.86B | +3.5% | $2.04B | 71.5% | $1.47B | 51.4% |
| 2018 | $2.76B | +3.4% | $2.00B | 72.6% | $1.41B | 51.2% |
| 2017 | $2.67B | +4.2% | $1.96B | 73.5% | $1.42B | 53.3% |
| 2016 | $2.56B | +7.5% | $1.89B | 73.9% | $1.37B | 53.7% |
| 2015 | $2.38B | +9.4% | $1.75B | 73.3% | $1.23B | 51.7% |
| 2014 | $2.18B | +10.8% | $1.56B | 71.8% | $1.06B | 48.5% |
| 2013 | $1.96B | +6.6% | $1.41B | 71.5% | $951.1M | 48.4% |
| 2012 | $1.84B | +6.1% | $1.29B | 69.8% | $872.0M | 47.3% |
| 2011 | $1.74B | +7.6% | $1.18B | 67.7% | $762.8M | 43.9% |
Full Stock Analysis
Deep dive into PSA consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
40+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
PSA — Frequently Asked Questions
Quick answers to the most common questions about buying PSA stock.
Is PSA's revenue growth accelerating or slowing?
PSA revenue growth is slowing. TTM revenue is $4.9B, up +2.9% year-over-year — below the 5-year CAGR of +10.6%. The deceleration suggests maturing end-markets or increased competition.
What is PSA's revenue history from 1986 to 2026?
Public Storage (PSA) revenue history spans 1986 to 2026. TTM revenue as of 2026 is $4.9B, growing at +2.9% YoY. The 5-year CAGR is +10.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is PSA's long-term revenue growth rate (CAGR)?
Public Storage's 5-year revenue CAGR of +10.6% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +2.9% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for PSA.
Why does PSA's quarterly revenue fluctuate?
PSA quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Public Storage's revenue data from 1986 to 2026 shows full historical quarterly detail on this page.
How is PSA's revenue distributed by segment?
PSA reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does PSA's revenue compare to industry peers?
Public Storage (PSA) with TTM revenue of $4.9B and +2.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.