For the year ending 2025-12-31, PSA-PL made $4,824,113K in revenue. $1,585,585K in net income. Net profit margin of 32.87%.
| Income Statement | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenues | 4,824,113 | 4,695,616 | 4,517,690 | 4,182,163 |
| Self-storage cost of operations-Self Storage Operations | 1,177,038 | 1,136,720 | 1,061,950 | 980,209 |
| Ancillary cost of operations-Ancillary Operations | 132,937 | 121,281 | 85,996 | 72,698 |
| Depreciation and amortization | 1,151,840 | 1,129,766 | 970,056 | 888,146 |
| Real estate acquisition and development expense | 19,550 | 15,506 | 26,451 | - |
| General and administrative | 106,682 | 106,677 | 80,632 | 114,742 |
| Interest expense | 304,495 | 287,401 | 201,132 | 136,319 |
| Total expenses | 2,892,542 | 2,797,351 | 2,426,217 | 2,192,114 |
| Interest and other income | 63,099 | 67,212 | 85,590 | 40,567 |
| Equity in earnings (loss) of unconsolidated real estate entity | 9,604 | 19,821 | 27,897 | 106,981 |
| Foreign currency exchange gain (loss) | -215,583 | 102,244 | -51,197 | 98,314 |
| Gain (loss) on sale of real estate | 1,113 | 1,537 | 17,178 | 1,503 |
| Gain on sale of equity investment in ps business parks, inc | - | 0 | 0 | 2,128,860 |
| Income before income taxes | 1,789,804 | 2,089,079 | 2,170,941 | - |
| Income tax (provision) benefit | -7,228 | 4,669 | 10,821 | - |
| Net income | 1,797,032 | 2,084,410 | 2,160,120 | 4,366,274 |
| Allocation to noncontrolling interests | 12,684 | 12,399 | 11,793 | 17,127 |
| Net income allocable to public storage shareholders | 1,784,348 | 2,072,011 | 2,148,327 | 4,349,147 |
| Preferred shareholders | 194,703 | 194,703 | 194,703 | 194,390 |
| Preferred shareholders - redemptions (note 10) | - | - | 0 | 0 |
| Restricted share units and unvested ltip units | 4,060 | 4,623 | 4,883 | 12,469 |
| Net income allocable to common shareholders | 1,585,585 | 1,872,685 | 1,948,741 | 4,142,288 |
| Basic (in usd per share) | 9.04 | 10.68 | 11.11 | 23.64 |
| Basic weighted average common shares outstanding (in shares) | 175,447,000 | 175,351,000 | 175,472,000 | 175,257,000 |
| Diluted (in usd per share) | 9.01 | 10.64 | 11.06 | 23.5 |
| Diluted weighted average common shares outstanding (in shares) | 175,902,000 | 176,038,000 | 176,143,000 | 176,280,000 |
Public Storage (PSA-PL)
Public Storage (PSA-PL)