PUBLIC STORAGE (PSA) Fundamental Analysis & Valuation

NYSE:PSA • US74460D1090

Current stock price

308.29 USD
-2.53 (-0.81%)
At close:
308.29 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

  • In the past year PSA was profitable.
  • PSA had a positive operating cash flow in the past year.
  • In the past 5 years PSA has always 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's Return On Assets of 7.85% is amongst the best of the industry. PSA outperforms 89.29% of its industry peers.
  • PSA's Return On Equity of 17.14% is amongst the best of the industry. PSA outperforms 82.14% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 9.66%, PSA belongs to the top of the industry, outperforming 96.43% of the companies in the same industry.
  • PSA had an Average Return On Invested Capital over the past 3 years of 9.67%. This 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

  • PSA has a Profit Margin of 32.87%. This is in the better half of the industry: PSA outperforms 75.00% of its industry peers.
  • PSA's Profit Margin has declined in the last couple of years.
  • PSA has a Operating Margin of 46.76%. This is in the better half of the industry: PSA outperforms 75.00% of its industry peers.
  • PSA's Operating Margin has been stable in the last couple of years.
  • PSA has a better Gross Margin (72.85%) than 64.29% of its industry peers.
  • 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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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. PSA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so PSA is still creating some value.
  • PSA has about the same amout of shares outstanding than it did 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

  • PSA has an Altman-Z score of 3.42. This indicates that PSA is financially healthy and has little risk of bankruptcy at the moment.
  • PSA's Altman-Z score of 3.42 is amongst the best of the industry. PSA outperforms 92.86% 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's Debt to Equity ratio of 0.98 is fine compared to the rest of the industry. PSA outperforms 60.71% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.98
Debt/FCF 6.31
Altman-Z 3.42
ROIC/WACC1.22
WACC7.94%
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

  • PSA has a Current 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 Current ratio value of 0.18, PSA is not doing good in the industry: 85.71% of the companies in the same industry are doing better.
  • 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.
  • PSA's Quick ratio of 0.18 is on the low side compared to the rest of the industry. PSA is outperformed by 85.71% 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

  • PSA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -15.15%.
  • The Earnings Per Share has been growing slightly by 7.51% on average over the past years.
  • 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

  • PSA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.64% yearly.
  • 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 Y12.73%
EPS Next 2Y8.34%
EPS Next 3Y8.86%
EPS Next 5Y8.64%
Revenue Next Year3.2%
Revenue Next 2Y4.37%
Revenue Next 3Y5.91%
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.
  • 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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2

4. PSA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 34.18, the valuation of PSA can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of PSA is on the same level as its industry peers.
  • The average S&P500 Price/Earnings ratio is at 27.42. PSA is valued slightly more expensive when compared to this.
  • With a Price/Forward Earnings ratio of 30.32, PSA can be considered very expensive at the moment.
  • PSA's Price/Forward Earnings is on the same level as the industry average.
  • PSA's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 22.24.
Industry RankSector Rank
PE 34.18
Fwd PE 30.32
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 is on the same level as the industry average.
  • PSA's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 33.31
EV/EBITDA 18.93
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.
  • PSA has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.69
PEG (5Y)4.55
EPS Next 2Y8.34%
EPS Next 3Y8.86%

More info and screens

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

4

5. PSA Dividend Analysis

5.1 Amount

  • PSA has a Yearly Dividend Yield of 3.98%.
  • Compared to an average industry Dividend Yield of 4.26, PSA is paying slightly less dividend.
  • PSA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 3.98%

5.2 History

  • On average, the dividend of PSA grows each year by 7.36%, which is quite nice.
  • PSA has paid a dividend for at least 10 years, which is a reliable track record.
  • PSA has decreased its dividend in the last 3 years.
Dividend Growth(5Y)7.36%
Div Incr Years0
Div Non Decr Years2
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 2Y8.34%
EPS Next 3Y8.86%
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 (4/24/2026, 8:04:00 PM)

After market: 308.29 0 (0%)

308.29

-2.53 (-0.81%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-12
Earnings (Next)04-27
Inst Owners83.21%
Inst Owner Change0.07%
Ins Owners9.89%
Ins Owner Change-1.92%
Market Cap54.12B
Revenue(TTM)4.82B
Net Income(TTM)1.59B
Analysts71.3
Price Target319.84 (3.75%)
Short Float %4.3%
Short Ratio5.43
Dividend
Industry RankSector Rank
Dividend Yield 3.98%
Yearly Dividend13.13
Dividend Growth(5Y)7.36%
DP145.27%
Div Incr Years0
Div Non Decr Years2
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)1.77%
PT rev (3m)-0.4%
EPS NQ rev (1m)-1.09%
EPS NQ rev (3m)-12.37%
EPS NY rev (1m)-1.31%
EPS NY rev (3m)-3.12%
Revenue NQ rev (1m)-0.33%
Revenue NQ rev (3m)0.41%
Revenue NY rev (1m)0.93%
Revenue NY rev (3m)0.46%
Valuation
Industry RankSector Rank
PE 34.18
Fwd PE 30.32
P/S 11.22
P/FCF 33.31
P/OCF 16.98
P/B 5.85
P/tB 6.02
EV/EBITDA 18.93
EPS(TTM)9.02
EY2.93%
EPS(NY)10.17
Fwd EY3.3%
FCF(TTM)9.25
FCFY3%
OCF(TTM)18.15
OCFY5.89%
SpS27.48
BVpS52.68
TBVpS51.25
PEG (NY)2.69
PEG (5Y)4.55
Graham Number103.403 (-66.46%)
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 3.42
F-Score4
WACC7.94%
ROIC/WACC1.22
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 Y12.73%
EPS Next 2Y8.34%
EPS Next 3Y8.86%
EPS Next 5Y8.64%
Revenue 1Y (TTM)2.74%
Revenue growth 3Y4.88%
Revenue growth 5Y10.6%
Sales Q2Q%3.26%
Revenue Next Year3.2%
Revenue Next 2Y4.37%
Revenue Next 3Y5.91%
Revenue Next 5Y3.6%
EBIT growth 1Y2.47%
EBIT growth 3Y1.31%
EBIT growth 5Y9.68%
EBIT Next Year55.02%
EBIT Next 3Y18.44%
EBIT Next 5Y12.99%
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 2 / 10 to PUBLIC STORAGE (PSA). This can be considered as Overvalued.


How profitable is PUBLIC STORAGE (PSA) stock?

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


What are the PE and PB ratios of PUBLIC STORAGE (PSA) stock?

The Price/Earnings (PE) ratio for PUBLIC STORAGE (PSA) is 34.18 and the Price/Book (PB) ratio is 5.85.


How financially healthy is PUBLIC STORAGE?

The financial health rating of PUBLIC STORAGE (PSA) is 4 / 10.