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

Public Storage has reported Operating Margin for 16 years, with the latest figure at 37.85% in Q2 2026.

• On a quarterly basis, Operating Margin fell 378.0% year-over-year to 37.85% in Q2 2026; TTM through Jun 2026 was 37.62%, a 144.0% decrease from a year earlier, with the FY2025 full-year figure at 37.28%, down 56.0% from the prior year.
• Operating Margin was 37.85% for Q2 2026 at Public Storage, 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.
• Average Operating Margin over 5 years is 41.38%, with a median of 39.18% recorded in 2023.
• The sharpest annual moves came in 2022 and 2023: Operating Margin tumbled 2283 bps in 2022, then soared 325 bps in 2023.
• Over 5 years, Operating Margin stood at 48.58% in 2022, then slipped by 19 bps to 39.14% in 2023, then slipped by 4 bps to 37.57% in 2024, then retreated by 3 bps to 36.48% in 2025, then gained by 4 bps to 37.85% in 2026.
• The last three Operating Margin figures came in at 37.85% (Q2 2026), 38.95% (Q1 2026), and 36.48% (Q4 2025), per Business Quant data.