Public Storage (PSA) FY2025 10-K Annual Report
Public Storage (PSA) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. 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 FY2025 10-K Analysis
Business Overview
- • Core business: Ownership and operation of self-storage facilities generating majority of revenue and earnings
- • Strategic emphasis on expanding management of third-party owned self-storage facilities for fees, many near existing stabilized properties
Management Discussion & Analysis
- • Revenue $4.49B in 2025, up 2.1% YoY from $4.40B in 2024; Same Store revenue stable at $3.76B
- • Operating margin slightly declined; Same Store NOI down 0.5% to $2.83B, Non-Same Store NOI up 25.6% ($59.5M)
Risk Factors
- • No specific or timely regulatory, geopolitical, operational, competitive, or financial risks detailed in the provided text
Public Storage FY2025 Key Financial MetricsXBRL
Revenue
$4.8B
▲ +2.7% YoY
Net Income
$1.8B
▼ -13.9% YoY
Net Margin
37.0%
▼ -714bp YoY
ROE
19.3%
▼ -204bp YoY
Total Assets
$20.2B
▲ +2.3% YoY
EPS (Diluted)
$9.01
▼ -15.3% YoY
Operating Cash Flow
$3.2B
▲ +1.9% YoY
Source: XBRL data from Public Storage FY2025 10-K filing on SEC EDGAR. All figures in USD.
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