Public Storage (PSA) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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PSA Revenue Growth
Revenue Breakdown (FY 2025)
PSA's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
PSA Revenue Analysis (2014–2025)
As of May 6, 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.
Looking at the longer-term picture, PSA's 5-year compound annual growth rate (CAGR) stands at +10.6%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $4.82 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows PSA's business is primarily driven by Self Storage Operations (93%), and Ancillary Operations (7%). With over half of revenue concentrated in Self Storage Operations, the company maintains significant focus in this area while developing other growth vectors.
When 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 terms of 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 | +6.7% | +6.7% | 49.9% | |
 PLD | $8.2B | +10.7% | +19.7% | 53.8% |
PSA Historical Revenue Data (2014–2025)
| 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% |
Full PSA Stock Analysis
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Start ComparisonPSA — 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 slowed to +2.9%, below the 5-year CAGR of +10.6%. TTM revenue is $4.9B. The deceleration marks a shift from historical growth rates.
What is PSA's long-term revenue growth rate?
Public Storage's 5-year revenue CAGR of +10.6% reflects the variable expansion pattern. Current YoY growth of +2.9% is near this long-term average.
How is PSA's revenue distributed by segment?
PSA reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.