Is Public Storage (PSA) overvalued or fairly valued?

MarketChacha shows Public Storage's valuation in context — a trailing P/E of about 31.3, a forward P/E of about 29.9, a price-to-book of about 11.0 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Public Storage's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.59×) from reported figures — education, not a rating.

What is Public Storage's revenue?

Public Storage reported revenue of $4.8B for FY2025, with net profit of $1.8B, per official filings.

What is the share price of Public Storage (PSA)?

Public Storage last traded at $302.01 (-1.2% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Public Storage

PSA · NYSE · Real Estate · United States

Snapshot

TickerPSA

ExchangeNYSE

SectorReal Estate

IndustryREIT - Industrial

CountryUnited States

Employees5,770

HeadquartersFrisco, United States

Websitewww.publicstorage.com

Filings tracked25

About Public Storage

Public Storage, a member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At June 30, 2026, The firm: (i) owned and/or operated 3,584 self-storage facilities located in 40 states with approximately 259 million net rentable square feet in the United States and (ii) owned a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 335 self-storage facilities located in seven Western European countries with approximately 19 million net rentable square feet operated under the Shurgard brand. Public Storage is headquartered in Frisco, Texas. Public Storage was incorporated in 1972 in Maryland.

Who owns it

Insiders9.6%
Institutions83.8%
Public & other6.6%

1,574 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.9.83%
Vanguard Portfolio Management LLC7.75%
Vanguard Capital Management LLC5.88%
State Street Corporation5.77%
Capital International Investors5.41%
Price (T.Rowe) Associates Inc3.25%
Cohen & Steers Inc.2.98%
NORGES BANK2.47%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 10.6 points over the period — profitability is trending down.

Cash conversion1.59×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend47.6% → 37.0%

Margin has compressed by about 10.6 points over the period — profitability is trending down.

Return on equity19.3%

Latest ROE of 19.3% — capital is generating a healthy return.

Growth qualityrev 3% · PAT -9%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $1.4B · EPS 2.49

Est. earnings growth -4.3%

Next fiscal year

Rev $5.5B · EPS 10.12

Est. earnings growth +2.4%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$4.8B

Net margin

37.0%

ROE

19.3%

Revenue CAGR (2y)

+3.3%

Profit CAGR (2y)

-8.9%

EPS (FY2025)

9.01

Net profit (FY2025)

$1.8B

Ask MarketChacha about PSA

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$4.8B	$1.8B	9.01	37.0%	19.3%
FY2024	$4.7B	$2.1B	10.64	44.1%	21.3%
FY2023	$4.5B	$2.1B	11.06	47.6%	21.5%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$1.2B	$500.0M	2.55	40.6%
2026Q1	$1.2B	$526.3M	2.71	43.2%
2025Q3	$1.2B	$511.1M	2.62	41.8%
2025Q2	$1.2B	$358.4M	1.76	29.8%
2025Q1	$1.2B	$407.8M	2.04	34.5%
2024Q3	$1.2B	$430.3M	2.16	36.2%
2024Q2	$1.2B	$518.1M	2.66	44.2%
2024Q1	$1.2B	$508.9M	2.60	44.0%
2023Q3	$1.1B	$613.3M	3.20	53.6%
2023Q2	$1.1B	$578.0M	3.00	51.6%
2023Q1	$1.1B	$517.7M	2.65	47.3%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Executive/director change
SEC8/10/2026material
8-K — Results of operations, Exhibits
SEC7/29/2026material
10-Q filing
SEC7/29/2026
8-K — Material agreement, Completion of acquisition/disposition, Material financial obligation, Unregistered equity sale, Security holder rights, Bylaw/charter change, Reg FD disclosure, Exhibits
SEC7/22/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC7/20/2026material
8-K — Material agreement, Exhibits
SEC7/13/2026material
8-K — Executive/director change
SEC7/7/2026material
8-K — Material agreement, Termination of agreement, Material financial obligation, Reg FD disclosure, Exhibits
SEC6/25/2026material
8-K — Unregistered equity sale, Reg FD disclosure, Exhibits
SEC6/22/2026material
8-K — Reg FD disclosure, Other events
SEC6/1/2026material
8-K — Shareholder vote results, Other events
SEC5/11/2026material
8-K — Results of operations, Exhibits
SEC4/27/2026material
10-Q filing
SEC4/27/2026
8-K — Material agreement, Material financial obligation, Exhibits
SEC4/6/2026material
8-K — Material agreement, Exhibits
SEC4/2/2026material
8-K — Material agreement, Other events, Exhibits
SEC3/17/2026material
8-K — Reg FD disclosure, Exhibits
SEC3/16/2026material
8-K — Reg FD disclosure, Other events
SEC3/2/2026material
8-K — Executive/director change, Reg FD disclosure, Other events, Exhibits
SEC2/12/2026material
8-K — Results of operations, Exhibits
SEC2/12/2026material
10-K filing
SEC2/12/2026
8-K — Reg FD disclosure, Other events
SEC1/7/2026material

2025

8-K — Reg FD disclosure, Other events
SEC12/8/2025material
8-K — Results of operations, Exhibits
SEC10/29/2025material
10-Q filing
SEC10/29/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.