PUBLIC STORAGE (PSA) Fundamental Analysis & Valuation

NYSE:PSA • US74460D1090

Current stock price

271.32 USD
+5.54 (+2.08%)
At close:
271.32 USD
0 (0%)
After Hours:

This PSA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. PSA Profitability Analysis

1.1 Basic Checks

  • PSA had positive earnings in the past year.
  • PSA had a positive operating cash flow in the past year.
  • Each year in the past 5 years PSA has been profitable.
  • PSA had a positive operating cash flow in each of the past 5 years.
PSA Yearly Net Income VS EBIT VS OCF VS FCFPSA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B

1.2 Ratios

  • PSA has a Return On Assets of 7.85%. This is amongst the best in the industry. PSA outperforms 89.29% of its industry peers.
  • PSA has a Return On Equity of 17.14%. This is amongst the best in the industry. PSA outperforms 82.14% of its industry peers.
  • PSA has a Return On Invested Capital of 9.66%. This is amongst the best in the industry. PSA outperforms 96.43% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for PSA is above the industry average of 5.10%.
Industry RankSector Rank
ROA 7.85%
ROE 17.14%
ROIC 9.66%
ROA(3y)9.05%
ROA(5y)12.15%
ROE(3y)18.63%
ROE(5y)23.11%
ROIC(3y)9.67%
ROIC(5y)9.39%
PSA Yearly ROA, ROE, ROICPSA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

1.3 Margins

  • The Profit Margin of PSA (32.87%) is better than 75.00% of its industry peers.
  • PSA's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 46.76%, PSA is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • In the last couple of years the Operating Margin of PSA has remained more or less at the same level.
  • PSA has a Gross Margin of 72.85%. This is in the better half of the industry: PSA outperforms 64.29% of its industry peers.
  • PSA's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 46.76%
PM (TTM) 32.87%
GM 72.85%
OM growth 3Y-3.4%
OM growth 5Y-0.83%
PM growth 3Y-30.77%
PM growth 5Y-2.69%
GM growth 3Y-0.89%
GM growth 5Y0.73%
PSA Yearly Profit, Operating, Gross MarginsPSA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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4

2. PSA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), PSA is creating some value.
  • The number of shares outstanding for PSA remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for PSA has been increased compared to 5 years ago.
  • PSA has a worse debt/assets ratio than last year.
PSA Yearly Shares OutstandingPSA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
PSA Yearly Total Debt VS Total AssetsPSA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 2.99 indicates that PSA is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.99, PSA belongs to the top of the industry, outperforming 96.43% of the companies in the same industry.
  • The Debt to FCF ratio of PSA is 6.31, which is on the high side as it means it would take PSA, 6.31 years of fcf income to pay off all of its debts.
  • PSA's Debt to FCF ratio of 6.31 is amongst the best of the industry. PSA outperforms 89.29% of its industry peers.
  • A Debt/Equity ratio of 0.98 indicates that PSA is somewhat dependend on debt financing.
  • With a decent Debt to Equity ratio value of 0.98, PSA is doing good in the industry, outperforming 64.29% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.98
Debt/FCF 6.31
Altman-Z 2.99
ROIC/WACC1.23
WACC7.86%
PSA Yearly LT Debt VS Equity VS FCFPSA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B 6B 8B 10B

2.3 Liquidity

  • A Current Ratio of 0.18 indicates that PSA may have some problems paying its short term obligations.
  • PSA has a Current ratio of 0.18. This is amonst the worse of the industry: PSA underperforms 82.14% of its industry peers.
  • PSA has a Quick Ratio of 0.18. This is a bad value and indicates that PSA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of PSA (0.18) is worse than 82.14% of its industry peers.
Industry RankSector Rank
Current Ratio 0.18
Quick Ratio 0.18
PSA Yearly Current Assets VS Current LiabilitesPSA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. PSA Growth Analysis

3.1 Past

  • The earnings per share for PSA have decreased strongly by -15.15% in the last year.
  • PSA shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.51% yearly.
  • Looking at the last year, PSA shows a small growth in Revenue. The Revenue has grown by 2.74% in the last year.
  • PSA shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.60% yearly.
EPS 1Y (TTM)-15.15%
EPS 3Y-7.54%
EPS 5Y7.51%
EPS Q2Q%-19%
Revenue 1Y (TTM)2.74%
Revenue growth 3Y4.88%
Revenue growth 5Y10.6%
Sales Q2Q%3.26%

3.2 Future

  • The Earnings Per Share is expected to grow by 8.64% on average over the next years. This is quite good.
  • Based on estimates for the next years, PSA will show a small growth in Revenue. The Revenue will grow by 3.60% on average per year.
EPS Next Y14.23%
EPS Next 2Y9.3%
EPS Next 3Y10.36%
EPS Next 5Y8.64%
Revenue Next Year2.24%
Revenue Next 2Y3.08%
Revenue Next 3Y5.12%
Revenue Next 5Y3.6%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
PSA Yearly Revenue VS EstimatesPSA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2B 4B 6B
PSA Yearly EPS VS EstimatesPSA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5 10 15 20

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3

4. PSA Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 30.08, which means the current valuation is very expensive for PSA.
  • Based on the Price/Earnings ratio, PSA is valued a bit cheaper than 60.71% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.54. PSA is around the same levels.
  • The Price/Forward Earnings ratio is 26.33, which means the current valuation is very expensive for PSA.
  • Based on the Price/Forward Earnings ratio, PSA is valued a bit cheaper than the industry average as 64.29% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of PSA to the average of the S&P500 Index (22.70), we can say PSA is valued inline with the index average.
Industry RankSector Rank
PE 30.08
Fwd PE 26.33
PSA Price Earnings VS Forward Price EarningsPSA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 67.86% of the companies in the same industry are more expensive than PSA, based on the Enterprise Value to EBITDA ratio.
  • PSA's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 29.31
EV/EBITDA 16.61
PSA Per share dataPSA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates PSA does not grow enough to justify the current Price/Earnings ratio.
  • PSA has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.11
PEG (5Y)4.01
EPS Next 2Y9.3%
EPS Next 3Y10.36%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. PSA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.33%, PSA is a good candidate for dividend investing.
  • PSA's Dividend Yield is slightly below the industry average, which is at 5.52.
  • PSA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 4.33%

5.2 History

  • On average, the dividend of PSA grows each year by 7.36%, which is quite nice.
  • PSA has been paying a dividend for at least 10 years, so it has a reliable track record.
  • PSA has decreased its dividend recently.
Dividend Growth(5Y)7.36%
Div Incr Years0
Div Non Decr Years1
PSA Yearly Dividends per sharePSA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 5 10 15 20

5.3 Sustainability

  • PSA pays out 145.27% of its income as dividend. This is not a sustainable payout ratio.
  • PSA's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP145.27%
EPS Next 2Y9.3%
EPS Next 3Y10.36%
PSA Yearly Income VS Free CF VS DividendPSA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B 4B
PSA Dividend Payout.PSA Dividend Payout, showing the Payout Ratio.PSA Dividend Payout.PayoutRetained Earnings

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PSA Fundamentals: All Metrics, Ratios and Statistics

PUBLIC STORAGE

NYSE:PSA (3/23/2026, 8:14:11 PM)

After market: 271.32 0 (0%)

271.32

+5.54 (+2.08%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-12
Earnings (Next)04-28
Inst Owners83.22%
Inst Owner Change1.67%
Ins Owners9.9%
Ins Owner Change0.19%
Market Cap47.62B
Revenue(TTM)4.82B
Net Income(TTM)1.59B
Analysts70.4
Price Target314.28 (15.83%)
Short Float %3.11%
Short Ratio4.13
Dividend
Industry RankSector Rank
Dividend Yield 4.33%
Yearly Dividend13.13
Dividend Growth(5Y)7.36%
DP145.27%
Div Incr Years0
Div Non Decr Years1
Ex-Date03-16
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.73%
Min EPS beat(2)2.48%
Max EPS beat(2)2.97%
EPS beat(4)2
Avg EPS beat(4)-10.52%
Min EPS beat(4)-31.86%
Max EPS beat(4)2.97%
EPS beat(8)5
Avg EPS beat(8)-3.85%
EPS beat(12)7
Avg EPS beat(12)-3.18%
EPS beat(16)10
Avg EPS beat(16)0.24%
Revenue beat(2)1
Avg Revenue beat(2)-0.37%
Min Revenue beat(2)-0.91%
Max Revenue beat(2)0.17%
Revenue beat(4)3
Avg Revenue beat(4)-0.14%
Min Revenue beat(4)-0.91%
Max Revenue beat(4)0.17%
Revenue beat(8)3
Avg Revenue beat(8)-0.47%
Revenue beat(12)5
Avg Revenue beat(12)-0.41%
Revenue beat(16)7
Avg Revenue beat(16)-0.34%
PT rev (1m)-0.87%
PT rev (3m)-5.29%
EPS NQ rev (1m)-0.25%
EPS NQ rev (3m)-1.86%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.82%
Revenue NQ rev (1m)-0.16%
Revenue NQ rev (3m)0.41%
Revenue NY rev (1m)-0.44%
Revenue NY rev (3m)-0.95%
Valuation
Industry RankSector Rank
PE 30.08
Fwd PE 26.33
P/S 9.87
P/FCF 29.31
P/OCF 14.94
P/B 5.15
P/tB 5.29
EV/EBITDA 16.61
EPS(TTM)9.02
EY3.32%
EPS(NY)10.3
Fwd EY3.8%
FCF(TTM)9.26
FCFY3.41%
OCF(TTM)18.16
OCFY6.69%
SpS27.49
BVpS52.69
TBVpS51.26
PEG (NY)2.11
PEG (5Y)4.01
Graham Number103.41
Profitability
Industry RankSector Rank
ROA 7.85%
ROE 17.14%
ROCE 12.23%
ROIC 9.66%
ROICexc 9.83%
ROICexgc 10.14%
OM 46.76%
PM (TTM) 32.87%
GM 72.85%
FCFM 33.67%
ROA(3y)9.05%
ROA(5y)12.15%
ROE(3y)18.63%
ROE(5y)23.11%
ROIC(3y)9.67%
ROIC(5y)9.39%
ROICexc(3y)9.87%
ROICexc(5y)9.68%
ROICexgc(3y)10.21%
ROICexgc(5y)10%
ROCE(3y)12.24%
ROCE(5y)11.89%
ROICexgc growth 3Y-2.22%
ROICexgc growth 5Y-0.52%
ROICexc growth 3Y-2.29%
ROICexc growth 5Y-0.46%
OM growth 3Y-3.4%
OM growth 5Y-0.83%
PM growth 3Y-30.77%
PM growth 5Y-2.69%
GM growth 3Y-0.89%
GM growth 5Y0.73%
F-Score4
Asset Turnover0.24
Health
Industry RankSector Rank
Debt/Equity 0.98
Debt/FCF 6.31
Debt/EBITDA 2.67
Cap/Depr 135.61%
Cap/Sales 32.38%
Interest Coverage 8.26
Cash Conversion 93.51%
Profit Quality 102.45%
Current Ratio 0.18
Quick Ratio 0.18
Altman-Z 2.99
F-Score4
WACC7.86%
ROIC/WACC1.23
Cap/Depr(3y)119.76%
Cap/Depr(5y)263.31%
Cap/Sales(3y)27.58%
Cap/Sales(5y)56.65%
Profit Quality(3y)105.1%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-15.15%
EPS 3Y-7.54%
EPS 5Y7.51%
EPS Q2Q%-19%
EPS Next Y14.23%
EPS Next 2Y9.3%
EPS Next 3Y10.36%
EPS Next 5Y8.64%
Revenue 1Y (TTM)2.74%
Revenue growth 3Y4.88%
Revenue growth 5Y10.6%
Sales Q2Q%3.26%
Revenue Next Year2.24%
Revenue Next 2Y3.08%
Revenue Next 3Y5.12%
Revenue Next 5Y3.6%
EBIT growth 1Y2.47%
EBIT growth 3Y1.31%
EBIT growth 5Y9.68%
EBIT Next Year54.44%
EBIT Next 3Y18.99%
EBIT Next 5Y13.06%
FCF growth 1Y-23.15%
FCF growth 3Y0.8%
FCF growth 5Y12.76%
OCF growth 1Y1.86%
OCF growth 3Y0.74%
OCF growth 5Y9.3%

PUBLIC STORAGE / PSA Fundamental Analysis FAQ

What is the ChartMill fundamental rating of PUBLIC STORAGE (PSA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to PSA.


What is the valuation status for PSA stock?

ChartMill assigns a valuation rating of 3 / 10 to PUBLIC STORAGE (PSA). This can be considered as Overvalued.


What is the profitability of PSA stock?

PUBLIC STORAGE (PSA) has a profitability rating of 7 / 10.


What is the valuation of PUBLIC STORAGE based on its PE and PB ratios?

The Price/Earnings (PE) ratio for PUBLIC STORAGE (PSA) is 30.08 and the Price/Book (PB) ratio is 5.15.


Is the dividend of PUBLIC STORAGE sustainable?

The dividend rating of PUBLIC STORAGE (PSA) is 5 / 10 and the dividend payout ratio is 145.27%.