Public Storage (PSA-PI) Operating Margin (2011 - 2026)

Public Storage's Operating Margin history runs 16 years deep, the most recent figure standing at 38.95% for Q1 2026.

• In Q1 2026, Operating Margin fell 27.0% year-over-year to 38.95%; the TTM figure through Mar 2026 stood at 37.86% (down 54.0% YoY), while the FY2025 annual figure was 37.28%, down 56.0% from the prior year.
• Operating Margin was 38.95% for Q1 2026 at Public Storage, up from 36.48% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 48.58% in Q4 2022 to a low of 36.48% in Q4 2025.
• Historically, Operating Margin has averaged 41.43% across 5 years, with a median of 39.14% in 2023.
• The sharpest annual moves came in 2022 and 2023: Operating Margin surged 4205 bps in 2022, then slumped 943 bps in 2023.
• A 5-year view of Operating Margin shows it stood at 48.58% in 2022, then decreased by 19 bps to 39.14% in 2023, then decreased by 4 bps to 37.57% in 2024, then fell by 3 bps to 36.48% in 2025, then grew by 7 bps to 38.95% in 2026.
• The last three Operating Margin figures came in at 38.95% (Q1 2026), 36.48% (Q4 2025), and 37.18% (Q3 2025), per Business Quant data.