Public Storage (PSA) Operating Margin (2011 - 2026)
Public Storage (PSA) posted quarterly Operating Margin of 37.85% for Q2 2026, down 378.0% year-over-year from 13.62% in Q2 2025, and down 2.81% quarter-over-quarter from 38.95% in Q1 2026.
Public Storage (PSA) Operating Margin (2011 - 2026) Analysis & Trends
Public Storage's Operating Margin history runs 16 years deep, the most recent figure standing at 37.85% for Q2 2026.
- In Q2 2026, Operating Margin fell 378.0% year-over-year to 37.85%; the TTM figure through Jun 2026 stood at 37.62% (down 144.0% YoY), while the FY2025 annual figure was 37.28%, down 56.0% from the prior year.
- Operating Margin for Q2 2026 stood at 37.85%, down from 38.95% in the prior quarter.
- The five-year high for Operating Margin was 48.58% in Q4 2022, with the low at 36.48% in Q4 2025.
- The 5-year median for Operating Margin is 39.18% (2023), against an average of 41.38%.
- The sharpest annual moves came in 2022 and 2023: Operating Margin tumbled 2283 bps in 2022, then jumped 325 bps in 2023.
- Public Storage's Operating Margin stood at 48.58% in 2022, then retreated by 19 bps to 39.14% in 2023, then retreated by 4 bps to 37.57% in 2024, then declined by 3 bps to 36.48% in 2025, then increased by 4 bps to 37.85% in 2026.
- Business Quant data shows PSA's Operating Margin at 37.85% in Q2 2026, 38.95% in Q1 2026, and 36.48% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Prologis | 131.18 Bn | 131.18 Bn | 2.41 Bn | 51.59% |
| 2 | Public Storage | 56.71 Bn | 56.45 Bn | 1.20 Bn | 37.85% |
| 3 | Extra Space Storage | 31.13 Bn | 31.13 Bn | 642.43 Mn | 44.86% |
| 4 | Eastgroup Properties | 10.82 Bn | 10.82 Bn | 193.10 Mn | 40.64% |
| 5 | Lineage | 9.47 Bn | 9.41 Bn | 425.00 Mn | 3.97% |
| 6 | CubeSmart | 9.34 Bn | 9.34 Bn | 190.47 Mn | 7.46% |
| 7 | Rexford Industrial Realty | 8.31 Bn | 8.31 Bn | - | - |
| 8 | Terreno Realty | 7.29 Bn | 7.29 Bn | - | - |
| 9 | STAG Industrial | 6.97 Bn | 6.97 Bn | - | - |
| 10 | Americold Realty Trust | 4.33 Bn | 4.29 Bn | 212.69 Mn | -43.42% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 37.85% |
| Mar 31, 2026 | 38.95% |
| Dec 31, 2025 | 36.48% |
| Sep 30, 2025 | 37.18% |
| Jun 30, 2025 | 41.63% |
| Mar 31, 2025 | 39.22% |
| Dec 31, 2024 | 37.57% |
| Sep 30, 2024 | 37.76% |
| Jun 30, 2024 | 39.09% |
| Mar 31, 2024 | 36.95% |
| Dec 31, 2023 | 39.14% |
| Sep 30, 2023 | 44.66% |
| Jun 30, 2023 | 47.74% |
| Mar 31, 2023 | 46.25% |
| Dec 31, 2022 | 48.58% |
| Sep 30, 2022 | 46.42% |
| Jun 30, 2022 | 46.43% |
| Mar 31, 2022 | 43.00% |
| Dec 31, 2021 | 46.08% |
| Sep 30, 2021 | 44.08% |