Public Storage
NYSE: PSA · REAL ESTATE · REIT - INDUSTRIAL
Updated 2026-06-05
Public Storage (PSA) Financial statements
SEC filings — annual and quarterly data.
Balance sheet — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $11.20B | $10.64B | $9.94B | $9.81B | $9.50B | $8.93B | $8.79B | $9.88B | $9.82B | $9.78B | $10.13B | $10.73B | $10.93B | $11.37B | $11.82B | $17.38B | $17.55B | $19.81B | $19.75B | $20.21B |
| Cash & equivalents | $555.58M | $245.44M | $680.70M | $763.79M | $456.25M | $139.01M | $17.24M | $19.17M | $187.71M | $104.28M | $183.69M | $433.38M | $361.22M | $409.74M | $257.56M | $734.60M | $775.25M | $370.00M | $447.42M | $318.10M |
| Current assets | $555.58M | $552.19M | $680.70M | $856.69M | $558.53M | $139.01M | $428.23M | $447.31M | $187.71M | $104.28M | $183.69M | $433.38M | $361.22M | $409.74M | $257.56M | $734.60M | $775.25M | $370.00M | $447.42M | $460.20M |
| Total liabilities | $2.48B | $1.37B | $856.16M | $731.14M | $774.19M | $609.28M | $670.54M | $1.06B | $311.50M | $580.59M | $688.68M | $1.77B | $1.78B | $2.29B | $3.24B | $7.96B | $7.39B | $9.70B | $9.94B | $10.87B |
| Current liabilities | $1.22B | $848.00M | $212.35M | $731.14M | $774.19M | $609.28M | $334.71M | $268.46M | $247.14M | $261.58M | $297.94M | $337.20M | $371.26M | $383.28M | $394.65M | $482.09M | $514.68M | $598.99M | $588.25M | $612.89M |
| Long-term debt | $1.43B | $853.73M | $631.08M | $506.18M | $568.42M | $346.14M | $468.83M | $139.05M | $64.36M | $319.02M | $390.75M | $1.43B | $1.41B | $1.90B | $2.54B | $7.48B | $6.87B | $9.10B | $9.35B | $10.25B |
| Shareholder equity | $8.21B | $8.76B | $8.72B | $8.93B | $8.72B | $8.29B | $8.12B | $8.79B | $9.51B | $9.20B | $9.44B | $8.96B | $9.14B | $9.08B | $8.58B | $9.42B | $10.17B | $10.01B | $9.71B | $9.25B |
| Retained earnings | $-344.71M | $-485.35M | $4.90B | $-153.76M | $-236.41M | $-259.58M | $-279.47M | $-318.48M | $-374.82M | $-434.61M | $-487.58M | $-675.71M | $-577.36M | $-665.58M | $-914.79M | $-550.42M | $-110.23M | $-267.91M | $-699.08M | $-1.22B |
| Accounts receivable | — | — | — | — | $495.23M | — | $411.00M | $428.14M | — | — | — | — | — | $7.50M | — | — | — | — | — | $142.11M |
| Inventory | — | — | — | $0.00 | $0.00 | $0.00 | $-411.00M | $-428.14M | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — | — |
| Goodwill | $174.63M | $174.63M | $174.63M | $174.63M | $174.63M | $174600.00 | $174.60M | $174.60M | $174.60M | $174.60M | $174.60M | $174.60M | $174.60M | $174.60M | $174.60M | $165.84M | $165.84M | $165.84M | $165.84M | $165.84M |
Frequently asked questions
What is Public Storage's revenue?
Public Storage's trailing twelve-month revenue is $4.87B, and consensus projects about $7.39B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is PSA?
In its most recent fiscal year, PSA ran a gross margin of 24.96%, an operating margin of 46.73%, and a net margin of 36.99%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does PSA generate?
PSA produced $2.90B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is PSA's balance sheet healthy?
PSA holds $318.10M in cash and equivalents against $10.25B in long-term debt, on $9.25B of shareholder equity. That debt is best read against the cash flow the business throws off each year.