Public Storage (PSA) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
Revenue Growth Metrics
Revenue Breakdown (FY 2024)
PSA's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
PSA Revenue Analysis (2014–2025)
As of February 28, 2026, Public Storage (PSA) generated trailing twelve-month (TTM) revenue of $4.79 billion, reflecting modest growth of +3.1% year-over-year. The most recent quarter (Q3 2025) recorded $1.22 billion in revenue, up 1.9% 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 (94%), and Ancillary Operations (6%). 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 (-0.3% YoY), CUBE (+4.0% YoY), and NSA (-2.3% YoY), PSA has underperformed the peer group in terms of revenue growth. Compare PSA vs EXR →
Peer Comparison
Compare PSA's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PSACurrent | $4.8B | +3.1% | +10.6% | 70.6% | |
| EXR | $3.3B | -0.3% | +20.4% | 39.6% | |
| CUBE | $1.1B | +4.0% | +10.2% | 45.3% | |
| NSA | $753M | -2.3% | +11.7% | 37.0% | |
| SELF | $13M | +3.4% | +7.6% | 23.1% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $4.82B | +2.7% | $3.51B | 72.8% | $3.41B | 70.6% |
| 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% |
See PSA's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs PSA Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare PSA vs WELL
See how PSA stacks up against sector leader Welltower Inc..
Start ComparisonFrequently Asked Questions
Is PSA's revenue growth accelerating or slowing?
PSA revenue growth slowed to +3.1%, below the 5-year CAGR of +10.6%. TTM revenue is $4.8B. 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 +3.1% 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.