Public Storage annual operating margin
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Public Storage Operating Margin Growth & History (PSA)
Public Storage's operating margin was 40.04% for fiscal 2025.
View full Public Storage company overviewPublic Storage annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 40.04% | −0.39 pp |
| 2024 | 2024-12-31 | 40.43% | −5.87 pp |
| 2023 | 2023-12-31 | 46.30% | −1.63 pp |
| 2022 | 2022-12-31 | 47.93% | +1.02 pp |
| 2021 | 2021-12-31 | 46.90% | +0.43 pp |
| 2020 | 2020-12-31 | 46.48% | −3.30 pp |
| 2019 | 2019-12-31 | 49.78% | −0.29 pp |
| 2018 | 2018-12-31 | 50.06% | −3.27 pp |
| 2017 | 2017-12-31 | 53.33% | −0.35 pp |
| 2016 | 2016-12-31 | 53.68% | +1.95 pp |
| 2015 | 2015-12-31 | 51.73% | +3.26 pp |
| 2014 | 2014-12-31 | 48.47% | +0.07 pp |
| 2013 | 2013-12-31 | 48.40% | +1.08 pp |
| 2012 | 2012-12-31 | 47.33% | +3.38 pp |
| 2011 | 2011-12-31 | 43.94% | +1.02 pp |
| 2010 | 2010-12-31 | 42.92% | — |
Public Storage quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 37.85% | −3.78 pp |
| Q1 2026 | 2026-03-31 | 38.95% | −0.27 pp |
| Q4 2025 | 2025-12-31 | 39.16% | −1.16 pp |
| Q3 2025 | 2025-09-30 | 40.16% | −0.49 pp |
| Q2 2025 | 2025-06-30 | 41.63% | +0.20 pp |
| Q1 2025 | 2025-03-31 | 39.22% | −0.08 pp |
| Q4 2024 | 2024-12-31 | 40.32% | −0.80 pp |
| Q3 2024 | 2024-09-30 | 40.64% | −5.87 pp |
| Q2 2024 | 2024-06-30 | 41.43% | −8.29 pp |
| Q1 2024 | 2024-03-31 | 39.29% | −8.75 pp |
| Q4 2023 | 2023-12-31 | 41.12% | −9.15 pp |
| Q3 2023 | 2023-09-30 | 46.51% | −1.89 pp |
| Q2 2023 | 2023-06-30 | 49.72% | +1.63 pp |
| Q1 2023 | 2023-03-31 | 48.05% | +3.45 pp |
| Q4 2022 | 2022-12-31 | 50.27% | +2.40 pp |
| Q3 2022 | 2022-09-30 | 48.40% | +2.12 pp |
| Q2 2022 | 2022-06-30 | 48.10% | +1.28 pp |
| Q1 2022 | 2022-03-31 | 44.60% | −1.95 pp |
| Q4 2021 | 2021-12-31 | 47.87% | −2.46 pp |
| Q3 2021 | 2021-09-30 | 46.29% | +0.09 pp |
| Q2 2021 | 2021-06-30 | 46.82% | +3.09 pp |
| Q1 2021 | 2021-03-31 | 46.55% | +1.07 pp |
| Q4 2020 | 2020-12-31 | 50.34% | −2.46 pp |
| Q3 2020 | 2020-09-30 | 46.19% | −2.94 pp |
| Q2 2020 | 2020-06-30 | 43.73% | −5.33 pp |
| Q1 2020 | 2020-03-31 | 45.48% | −3.18 pp |
| Q4 2019 | 2019-12-31 | 52.80% | +2.02 pp |
| Q3 2019 | 2019-09-30 | 49.13% | −1.67 pp |
| Q2 2019 | 2019-06-30 | 49.07% | −1.03 pp |
| Q1 2019 | 2019-03-31 | 48.65% | −0.25 pp |
| Q4 2018 | 2018-12-31 | 50.78% | −5.71 pp |
| Q3 2018 | 2018-09-30 | 50.81% | −1.66 pp |
| Q2 2018 | 2018-06-30 | 50.10% | −3.57 pp |
| Q1 2018 | 2018-03-31 | 48.90% | −1.71 pp |
| Q4 2017 | 2017-12-31 | 56.49% | −0.98 pp |
| Q3 2017 | 2017-09-30 | 52.47% | −0.76 pp |
| Q2 2017 | 2017-06-30 | 53.67% | +0.56 pp |
| Q1 2017 | 2017-03-31 | 50.61% | −0.12 pp |
| Q4 2016 | 2016-12-31 | 57.47% | +0.71 pp |
| Q3 2016 | 2016-09-30 | 53.22% | +0.78 pp |
| Q2 2016 | 2016-06-30 | 53.12% | +2.14 pp |
| Q1 2016 | 2016-03-31 | 50.72% | +4.42 pp |
| Q4 2015 | 2015-12-31 | 56.76% | +4.58 pp |
| Q3 2015 | 2015-09-30 | 52.44% | +3.14 pp |
| Q2 2015 | 2015-06-30 | 50.98% | +1.18 pp |
| Q1 2015 | 2015-03-31 | 46.30% | +4.15 pp |
| Q4 2014 | 2014-12-31 | 52.18% | +1.42 pp |
| Q3 2014 | 2014-09-30 | 49.30% | +0.47 pp |
| Q2 2014 | 2014-06-30 | 49.80% | +0.81 pp |
| Q1 2014 | 2014-03-31 | 42.15% | −2.71 pp |
| Q4 2013 | 2013-12-31 | 50.75% | −1.31 pp |
| Q3 2013 | 2013-09-30 | 48.83% | +0.52 pp |
| Q2 2013 | 2013-06-30 | 48.99% | +2.47 pp |
| Q1 2013 | 2013-03-31 | 44.86% | +2.83 pp |
| Q4 2012 | 2012-12-31 | 52.07% | — |
| Q3 2012 | 2012-09-30 | 48.31% | +3.45 pp |
| Q2 2012 | 2012-06-30 | 46.52% | — |
| Q1 2012 | 2012-03-31 | 42.04% | — |
| Q3 2011 | 2011-09-30 | 44.86% | — |
Public Storage operating margin trends
Over the last five fiscal years, Public Storage's operating margin decreased from 46.48% to 40.04%, a change of −6.44 percentage points. The latest reported quarter, Q2 2026, shows 37.85%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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