Public Storage (PSA) FY2024 10-K Annual Report
Public Storage (PSA) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 24, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Public Storage FY2024 10-K Analysis
Business Overview
- • Core business model: ownership, development, and management of self-storage facilities across the U.S.
- • New emphasis on climate change risks including compliance with California SB 253 and SB 261 starting 2026, increasing emissions data reporting and related costs
- • Strategic focus on growing third-party facility management business alongside owned and developed properties
- • Development pipeline valued at $741.6 million as of Dec 31, 2024, with ongoing acquisition activity amid competitive market pressures
- • Property tax expense about $452 million in 2024, with risk of significant increases from reassessments and new laws especially in California
Public Storage FY2024 Key Financial MetricsXBRL
Revenue
$4.7B
▲ +3.9% YoY
Net Income
$2.1B
▼ -3.6% YoY
Net Margin
44.1%
▼ -343bp YoY
ROE
21.3%
▼ -12bp YoY
Total Assets
$19.8B
▼ -0.3% YoY
EPS (Diluted)
$10.64
▼ -3.8% YoY
Operating Cash Flow
$3.1B
▼ -3.6% YoY
Source: XBRL data from Public Storage FY2024 10-K filing on SEC EDGAR. All figures in USD.
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