Public Storage (PSA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Public Storage

NYSE•Real Estate•REIT - Industrial

$300.76+6.08(0.02%)After hours

Market Cap

$51.73B

P/E

25.3x

P/S

10.6x

P/B

5.6x

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.

How this company scores

GoodMetricSide Score: 71/100

Strongest: Profitability (22/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability22/25

Growth16/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality21/25

Strengths

Strong marginsHigh ROECash-backed earningsConsistent free cash flow

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 25.3x5y range 13.8x – 37.1x

Currently near its 20-quarter median.

P/S · 10.6x5y range 9.5x – 19.2x

Currently near its 20-quarter median.

P/B · 5.6x5y range 5.0x – 6.9x

Price & Volume

Market Cap $51.73B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.89B
Q. Revenue: $1.23B
TTM EBITDA: $3.12B
TTM Op. Income: $1.95B
Q. Op. Income: $466.68M
TTM Net Income: $2.04B
Q. Net Income: $499.96M
EPS: $2.56
Shares Out.: $175.56M

$4.89B in TTM revenue grew 3.0% YoY, reaching $1.23B last quarter. TTM EBITDA of $3.12B and TTM operating income of $1.95B show growth is flowing through to the bottom line. TTM net income of $2.04B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 61.2%
Op. Margin: 37.9%
Net Margin: 40.6%

Op. margin of 37.9% is up 7.5% YoY — cost efficiency is improving. Net margin at 40.6% Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 25.3x
P/S Ratio: 10.6x
P/B Ratio: 5.6x

At 25.3x P/E, the stock trades within typical market levels. P/S of 10.6x and P/B of 5.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 11% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $20.12B
Cash: $259.94M
Long-Term Debt: $10.18B
Book Value: $9.19B
D/E Ratio: 1.1
Debt/EBITDA: 13.5

With $20.12B in assets and $10.18B in long-term debt, D/E is 1.1and book value is $9.19B — moderate leverage. Over the past year, debt/equity is down 1% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $868.44M
TTM Free Cash Flow: $2.95B
FCF Margin: 60.3%
FCF / Net Income: 1.4

TTM FCF of $2.95B on $868.44M in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.