PUBLIC STORAGE (PSA) Fundamental Analysis & Valuation

NYSE:PSA • US74460D1090

Current stock price

265.78 USD
-11.55 (-4.16%)
At close:
268.203 USD
+2.42 (+0.91%)
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

  • In the past year PSA was profitable.
  • In the past year PSA had a positive cash flow from operations.
  • Each year in the past 5 years PSA has been profitable.
  • In the past 5 years PSA always reported a positive cash flow from operatings.
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's Return On Assets of 7.85% is amongst the best of the industry. PSA outperforms 92.86% of its industry peers.
  • With an excellent Return On Equity value of 17.14%, PSA belongs to the best of the industry, outperforming 82.14% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 9.66%, PSA belongs to the best of the industry, outperforming 96.43% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for PSA is above the industry average of 5.05%.
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 78.57% of its industry peers.
  • In the last couple of years the Profit Margin of PSA has declined.
  • The Operating Margin of PSA (46.76%) is better than 75.00% of its industry peers.
  • In the last couple of years the Operating Margin of PSA has remained more or less at the same level.
  • Looking at the Gross Margin, with a value of 72.85%, PSA is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
  • In the last couple of years the Gross Margin of PSA has remained more or less at the same level.
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

  • PSA has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for PSA remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, PSA has more shares outstanding
  • Compared to 1 year ago, PSA has a worse debt to assets ratio.
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 3.10 indicates that PSA is not in any danger for bankruptcy at the moment.
  • PSA has a Altman-Z score of 3.10. This is amongst the best in the industry. PSA outperforms 96.43% of its industry peers.
  • PSA has a debt to FCF ratio of 6.31. This is a slightly negative value and a sign of low solvency as PSA would need 6.31 years to pay back of 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.
  • PSA has a Debt to Equity ratio of 0.98. This is in the better half of the industry: PSA outperforms 64.29% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.98
Debt/FCF 6.31
Altman-Z 3.1
ROIC/WACC1.25
WACC7.73%
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.
  • With a Quick ratio value of 0.18, PSA is not doing good in the industry: 82.14% of the companies in the same industry are doing better.
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.
  • The Earnings Per Share has been growing slightly by 7.51% on average over the past years.
  • The Revenue has been growing slightly by 2.74% in the past year.
  • Measured over the past years, PSA shows a quite strong growth in Revenue. The Revenue has been growing by 10.60% on average per year.
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.
  • PSA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.60% yearly.
EPS Next Y14.23%
EPS Next 2Y9.3%
EPS Next 3Y10.36%
EPS Next 5Y8.64%
Revenue Next Year2.39%
Revenue Next 2Y3.17%
Revenue Next 3Y5.12%
Revenue Next 5Y3.6%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

  • PSA is valuated quite expensively with a Price/Earnings ratio of 29.47.
  • Based on the Price/Earnings ratio, PSA is valued a bit cheaper than 60.71% of the companies in the same industry.
  • PSA's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.23.
  • PSA is valuated quite expensively with a Price/Forward Earnings ratio of 25.80.
  • Based on the Price/Forward Earnings ratio, PSA is valued a bit cheaper than 64.29% of the companies in the same industry.
  • PSA is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.28, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 29.47
Fwd PE 25.8
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

  • PSA's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. PSA is cheaper than 64.29% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as PSA.
Industry RankSector Rank
P/FCF 28.72
EV/EBITDA 17.2
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 an expensive valuation of the company.
  • The decent profitability rating of PSA may justify a higher PE ratio.
PEG (NY)2.07
PEG (5Y)3.92
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 4.03%, PSA is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 5.49, PSA is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.91, PSA pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.03%

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 (3/20/2026, 8:17:50 PM)

After market: 268.203 +2.42 (+0.91%)

265.78

-11.55 (-4.16%)

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 Cap46.65B
Revenue(TTM)4.82B
Net Income(TTM)1.59B
Analysts70.4
Price Target314.28 (18.25%)
Short Float %3.11%
Short Ratio4.13
Dividend
Industry RankSector Rank
Dividend Yield 4.03%
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)-1.54%
EPS NQ rev (3m)-1.86%
EPS NY rev (1m)1.51%
EPS NY rev (3m)-1.82%
Revenue NQ rev (1m)0.74%
Revenue NQ rev (3m)0.41%
Revenue NY rev (1m)-1.04%
Revenue NY rev (3m)-0.8%
Valuation
Industry RankSector Rank
PE 29.47
Fwd PE 25.8
P/S 9.67
P/FCF 28.72
P/OCF 14.64
P/B 5.04
P/tB 5.19
EV/EBITDA 17.2
EPS(TTM)9.02
EY3.39%
EPS(NY)10.3
Fwd EY3.88%
FCF(TTM)9.26
FCFY3.48%
OCF(TTM)18.16
OCFY6.83%
SpS27.49
BVpS52.69
TBVpS51.26
PEG (NY)2.07
PEG (5Y)3.92
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 3.1
F-Score4
WACC7.73%
ROIC/WACC1.25
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 Year2.39%
Revenue Next 2Y3.17%
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 29.47 and the Price/Book (PB) ratio is 5.04.


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%.