Public Storage (PSA-PQ) 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.

• On a quarterly basis, Operating Margin fell 27.0% year-over-year to 38.95% in Q1 2026; TTM through Mar 2026 was 37.86%, a 54.0% decrease from a year earlier, with the FY2025 full-year figure at 37.28%, down 56.0% from the prior year.
• Operating Margin advanced to 38.95% in Q1 2026 per PSA-PQ's latest filing, from 36.48% in the prior quarter.
• Across five years, Operating Margin topped out at 48.58% in Q4 2022 and bottomed at 36.48% in Q4 2025.
• The 5-year median for Operating Margin is 39.14% (2023), against an average of 41.43%.
• Biggest YoY gain for Operating Margin was 4205 bps in 2022; the steepest drop was 2272 bps in 2022.
• Year by year, Operating Margin 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.
• Per Business Quant, the three latest PSA-PQ Operating Margin figures stand at 38.95% (Q1 2026), 36.48% (Q4 2025), and 37.18% (Q3 2025).