Public Storage (PSA) Gross Margin (2014 - 2026)
Public Storage's (PSA) quarterly Gross Margin came in at 97.19% in Q1 2026, down 22.0% year-on-year from 124.6% in Q1 2025, and little changed quarter-over-quarter from 97.32% in Q4 2025.
Public Storage (PSA) Gross Margin (2014 - 2026) Analysis & Trends
Public Storage's Gross Margin history runs 13 years deep, the most recent figure standing at 97.19% for Q1 2026.
- On a quarterly basis, Gross Margin fell 22.0% year-over-year to 97.19% in Q1 2026; TTM through Mar 2026 was 97.19%, a 16.0% decrease from a year earlier, with the FY2025 full-year figure at 97.24%, down 17.0% from the prior year.
- Gross Margin was little changed at 97.19% in Q1 2026 per PSA's latest filing, from 97.32% in the prior quarter.
- Across five years, Gross Margin topped out at 98.41% in Q1 2022 and bottomed at 97.03% in Q3 2025.
- The 5-year median for Gross Margin is 97.66% (2024), against an average of 97.72%.
- Across the five-year window, Gross Margin soared 53 bps in 2022 and sank 103 bps in 2024, its largest moves.
- Year by year, Gross Margin stood at 98.31% in 2022, then dropped by 0 bps to 98.02% in 2023, then retreated by 1 bps to 97.25% in 2024, then climbed by 0 bps to 97.32% in 2025, then retreated by 0 bps to 97.19% in 2026.
- Per Business Quant, the three latest PSA Gross Margin figures stand at 97.19% (Q1 2026), 97.32% (Q4 2025), and 97.03% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Prologis | 134.75 Bn | 139.31 Bn | 2.24 Bn | 99.29% |
| 2 | Public Storage | 55.31 Bn | 55.27 Bn | 1.18 Bn | 97.19% |
| 3 | Extra Space Storage | 30.66 Bn | 31.49 Bn | 617.72 Mn | 72.16% |
| 4 | Eastgroup Properties | 11.49 Bn | 11.49 Bn | 193.10 Mn | 99.88% |
| 5 | CubeSmart | 9.34 Bn | 9.36 Bn | 191.86 Mn | 68.05% |
| 6 | Lineage | 9.30 Bn | 9.23 Bn | 417.00 Mn | 32.15% |
| 7 | Rexford Industrial Realty | 8.22 Bn | 8.54 Bn | - | - |
| 8 | STAG Industrial | 7.73 Bn | 7.81 Bn | - | - |
| 9 | Terreno Realty | 7.56 Bn | 7.56 Bn | - | - |
| 10 | Americold Realty Trust | 4.04 Bn | 4.04 Bn | 195.51 Mn | 31.04% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 97.19% |
| Dec 31, 2025 | 97.32% |
| Sep 30, 2025 | 97.03% |
| Jun 30, 2025 | 97.23% |
| Mar 31, 2025 | 97.41% |
| Dec 31, 2024 | 97.25% |
| Sep 30, 2024 | 97.12% |
| Jun 30, 2024 | 97.65% |
| Mar 31, 2024 | 97.66% |
| Dec 31, 2023 | 98.02% |
| Sep 30, 2023 | 98.15% |
| Jun 30, 2023 | 98.02% |
| Mar 31, 2023 | 98.20% |
| Dec 31, 2022 | 98.31% |
| Sep 30, 2022 | 98.02% |
| Jun 30, 2022 | 98.33% |
| Mar 31, 2022 | 98.41% |
| Dec 31, 2021 | 98.21% |
| Sep 30, 2021 | 97.79% |
| Jun 30, 2021 | 98.07% |