Public Storage (PSA) closed fiscal year 2025 with a gross margin of 72.8 % and a net margin of 37.0 %.
Public Storage (PSA) closed fiscal year 2025 with a gross margin of 72.8 % and a net margin of 37.0 %. The same year shows an EBITDA margin of 67.3 % and an EBIT margin of 43.4 %. The free cash flow margin was 60.1 %. Across the period the gross margin ranges between 71.5 % in 2013 and 74.6 % in 2023. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | 71.51 % | 71.83 % | 73.32 % | 73.87 % | 73.47 % | 73.00 % | — | — | — | — | 74.59 % | — | 72.85 % |
| EBITDA margin (%) | — | — | — | 64.81 % | 64.57 % | 66.74 % | 68.12 % | 68.55 % | 69.61 % | 70.60 % | 70.36 % | — | — | — | — | 129.24 % | 73.98 % | 74.67 % | 67.29 % |
| EBIT margin (%) | — | — | — | 42.92 % | 43.94 % | 47.33 % | 48.40 % | 48.47 % | 51.73 % | 53.68 % | 53.33 % | — | — | — | — | 108.00 % | 52.51 % | 50.61 % | 43.41 % |
| Net margin (%) | 25.60 % | 54.36 % | 51.43 % | 41.64 % | 47.46 % | 50.98 % | 53.56 % | 52.55 % | 55.06 % | 56.77 % | 54.05 % | 62.00 % | 53.26 % | 46.56 % | 57.18 % | 103.99 % | 47.55 % | 44.13 % | 36.99 % |
| FCF margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 63.54 % | 61.66 % | 57.68 % | 60.05 % |
