Public Storage (PSA) Gross Margin (2013 - 2025)

Public Storage's Gross Margin history runs 13 years deep, the most recent figure standing at 97.24% for FY2025.

• In Q1 2026, Gross Margin fell 22.0% year-over-year to 97.19%; the TTM figure through Mar 2026 stood at 97.19% (down 16.0% YoY), while the FY2025 annual figure was 97.24%, down 17.0% from the prior year.
• Gross Margin was 97.24% for FY2025 at Public Storage, roughly flat from 97.42% in the prior year.
• In the past five years, Gross Margin ranged from a high of 98.26% in FY2022 to a low of 97.24% in FY2025.
• Historically, Gross Margin has averaged 97.8% across 5 years, with a median of 97.99% in 2021.
• The sharpest annual moves came in 2022 and 2024: Gross Margin increased 27 bps in 2022, then slumped 68 bps in 2024.
• A 5-year view of Gross Margin shows it stood at 97.99% in 2021, then gained by 0 bps to 98.26% in 2022, then dropped by 0 bps to 98.1% in 2023, then dropped by 1 bps to 97.42% in 2024, then slipped by 0 bps to 97.24% in 2025.
• The last three Gross Margin figures came in at 97.24% (FY2025), 97.42% (FY2024), and 98.1% (FY2023), per Business Quant data.