psa: the income statement

MyFinsight

For the quarter ending 2025-09-30, PSA made $1,224,043K in revenue. $461,408K in net income. Net profit margin of 37.70%.

Unit: Thousand (K) dollars (except for numbers of shares and EPS)

Income Statement	2025-09-30	2025-06-30	2025-03-31	2024-09-30
Revenues	1,224,043	1,201,094	1,183,184	1,187,758
Self-storage cost of operations-Self Storage Operations	294,465	284,717	301,154	287,435
Ancillary cost of operations-Ancillary Operations	36,385	33,288	30,693	34,265
Depreciation and amortization	290,364	283,216	282,715	280,330
Real estate acquisition and development expense	2,837	2,538	7,423	2,530
General and administrative	28,783	25,727	25,184	26,214
Interest expense	79,692	71,609	72,009	74,252
Operating expenses	732,526	701,095	719,178	705,026
Interest and other income	21,012	12,789	13,234	20,029
Equity in earnings of unconsolidated real estate entities	3,674	-2,230	3,627	2,888
Foreign currency exchange gain (loss)	899	-146,070	-68,695	-70,572
Gain on sale of real estate	502	163	45	554
Income before income tax expense	517,604	364,651	412,217	435,631
Income tax expense	2,831	3,240	1,426	2,488
Net income	514,773	361,411	410,791	433,143
Allocation to noncontrolling interests	3,710	2,992	3,000	2,814
Net income allocable to public storage shareholders	511,063	358,419	407,791	430,329
Preferred shareholders	48,678	48,673	48,678	48,678
Restricted share units and unvested ltip units	977	778	883	939
Net income allocable to common shareholders	461,408	308,968	358,230	380,712

Basic (in usd per share)	2.63	1.76	2.04	2.17
Basic weighted average common shares outstanding (in shares)	175,456,000	175,442,000	175,419,000	175,043,000
Diluted (in usd per share)	2.62	1.76	2.04	2.16
Diluted weighted average common shares outstanding (in shares)	175,884,000	175,921,000	175,942,000	175,866,000