Public Storage
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 3.42B | 4.18B | 4.52B | 4.70B | 4.82B | 2.7% | |
| Cost of Revenue | (920.60M) | (1.05B) | (1.15B) | (1.26B) | (3.62B) | 187.8% | |
Gross Profit | 2.50B | 3.13B | 3.37B | 3.44B | 1.20B | -65.0% | |
| Operating Expenses | |||||||
| Research & Development | (8.40M) | (17.54M) | — | — | — | — | |
| Selling, General & Administrative | (75.97M) | (71.67M) | (80.63M) | (106.68M) | (106.68M) | 0.0% | |
| General & Administrative | (75.97M) | (71.67M) | (80.63M) | (106.68M) | (106.68M) | 0.0% | |
| Depreciation & Amortization | (713.43M) | (888.15M) | (970.06M) | (1.13B) | (1.15B) | 2.0% | |
Operating Income (EBIT) | 1.71B | 2.17B | 2.32B | 2.20B | 2.25B | 2.4% | |
| Non-Operating Items | |||||||
| Interest Income | 12.31M | 20.82M | 64.82M | 44.66M | 36.62M | -18.0% | |
| Interest Expense | (90.77M) | (136.32M) | (201.13M) | (287.40M) | (304.50M) | 5.9% | |
| Other Income/Expenses (Net) | 266.17M | 2.21B | -148.12M | -112.09M | -464.51M | 314.4% | |
Income Before Tax | 1.97B | 4.38B | 2.17B | 2.09B | 1.79B | -14.3% | |
| Income Tax Expense | (12.37M) | (14.33M) | (10.82M) | (4.67M) | (7.23M) | -254.8% | |
Net Income | 1.95B | 4.35B | 2.15B | 2.07B | 1.78B | -13.9% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $10 | $24 | $11 | $11 | $9 | -15.4% | |
| Weighted Avg Shares Outstanding | 174.86M | 175.26M | 175.47M | 175.35M | 175.45M | 0.1% | |
| Weighted Avg Shares Outstanding (Diluted) | 175.57M | 176.28M | 176.14M | 176.04M | 175.90M | -0.1% | |
EBITDA | 2.78B | 5.41B | 3.34B | 3.51B | 3.25B | -7.4% |
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