Public Storage Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	4,489	4,396	4,260	3,946	3,204
Service and Other Revenue	334.7	299.62	258.08	236.14	212.26
Revenue	4,824	4,696	4,518	4,182	3,416
Revenue Growth (YoY)	2.74%	3.94%	8.02%	22.43%	17.18%
Property Expenses	1,177	1,137	1,062	980.21	852.03
Service and Other Expenses	132.94	121.28	86	72.7	68.57
Total Property Expenses	1,310	1,258	1,148	1,053	920.6
Gross Profit	3,514	3,438	3,370	3,129	2,495
Selling, General & Admin	106.68	106.68	80.63	71.67	75.97
Depreciation & Amortization Expenses	1,152	1,130	970.06	888.15	713.43
Other Operating Expenses	19.55	15.51	26.45	28.74	12.92
Operating Income	2,236	2,186	2,293	2,141	1,693
Net Gains on Disposal of Properties	1.11	1.54	17.18	1.5	13.68
Interest Income	72.7	87.03	113.49	147.55	244.4
Interest Expense	-304.5	-287.4	-201.13	-136.32	-90.77
Other Non-Operating Income (Expense)	-215.58	102.24	-51.2	2,227	-111.79
Total Non-Operating Income (Expense)	-446.26	-96.59	-121.66	2,240	55.52
Pretax Income	1,790	2,089	2,171	4,381	1,748
Provision for Income Taxes	-7.23	4.67	10.82	14.33	12.37
Net Income	1,586	1,873	1,949	4,142	1,732
Minority Interest in Earnings	16.74	17.02	16.68	29.6	11.7
Net Income Attributable to Preferred Dividends	194.7	194.7	194.7	194.39	215.49
Net Income to Common	1,586	1,873	1,949	4,142	1,732
Net Income Growth	-15.33%	-3.90%	-52.95%	139.10%	57.73%
Shares Outstanding (Basic)	175	175	175	175	175
Shares Outstanding (Diluted)	176	176	176	176	176
Shares Change (YoY)	-0.08%	-0.06%	-0.08%	0.41%	0.53%
EPS (Basic)	9.04	10.68	11.11	23.64	9.91
EPS (Diluted)	9.01	10.64	11.06	23.50	9.87
EPS Growth	-15.32%	-3.80%	-52.94%	138.09%	56.92%
Free Cash Flow	1,641	2,114	1,948	1,586	-3,056
Free Cash Flow Growth	-22.38%	8.52%	22.82%	-	-
Free Cash Flow Per Share	9.33	12.01	11.06	9.00	-17.41
Dividends Per Share	12.000	12.000	12.000	8.000	8.000
Dividend Growth	-	-	50.00%	-	-
Gross Margin	72.85%	73.21%	74.59%	74.82%	73.05%
Operating Margin	46.35%	46.55%	50.75%	51.19%	49.56%
Profit Margin	37.25%	44.39%	47.81%	104.40%	50.82%
FCF Margin	34.01%	45.02%	43.12%	37.92%	-89.46%
EBITDA	3,388	3,315	3,263	3,029	2,406
EBITDA Margin	70.23%	70.61%	72.22%	72.42%	70.45%
EBIT	2,236	2,186	2,293	2,141	1,693
EBIT Margin	46.35%	46.55%	50.75%	51.19%	49.56%
Effective Tax Rate	-0.40%	0.22%	0.50%	0.33%	0.71%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q