Operating Income for Public Storage (PSA)
According to Public Storage's latest reported financial statements, the company's current operating income (TTM) is $2.47B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$2.47B
YoY change
+2.4%
5Y CAGR
+9.8%
Peak year (2023)
$2.32B
Cumulative operating income
$29.44B
Operating Income history chart for Public Storage (PSA) from 1983 to 2025
Operating Income history table for Public Storage (PSA) from 1983 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $2.25B | +2.4% | ||
| 2024 | $2.20B | -5.1% | ||
| 2023 | $2.32B | +6.9% | ||
| 2022 | $2.17B | +27.2% | ||
| 2021 | $1.71B | +20.9% | ||
| 2020 | $1.41B | -3.8% | ||
| 2019 | $1.47B | +3.7% | ||
| 2018 | $1.41B | -0.6% | ||
| 2017 | $1.42B | +3.5% | ||
| 2016 | $1.37B | +11.6% | ||
| 2015 | $1.23B | +16.7% | ||
| 2014 | $1.06B | +11.0% | ||
| 2013 | $951.10M | +9.1% | ||
| 2012 | $871.98M | +14.3% | ||
| 2011 | $762.81M | +10.1% | ||
| 2010 | $692.65M | -4.7% | ||
| 2009 | $726.83M | +4.7% | ||
| 2008 | $694.42M | +69.0% | ||
| 2007 | $410.94M | +14.0% | ||
| 2006 | $360.34M | -22.4% | ||
| 2005 | $464.31M | +17.7% | ||
| 2004 | $394.51M | +12.4% | ||
| 2003 | $351.03M | +0.1% | ||
| 2002 | $350.68M | -5.1% | ||
| 2001 | $369.36M | +10.3% | ||
| 2000 | $334.95M | +20.5% | ||
| 1999 | $278.00M | +1469.9% | ||
| 1998 | $17.71M | -95.2% | ||
| 1997 | $371.31M | +40.3% | ||
| 1996 | $264.64M | +207.6% | ||
| 1995 | $86.03M | +47.1% | ||
| 1994 | $58.49M | -68.5% | ||
| 1993 | $185.40M | +65.8% | ||
| 1992 | $111.80M | +47.5% | ||
| 1991 | $75.80M | +60.6% | ||
| 1990 | $47.20M | +26.9% | ||
| 1989 | $37.20M | -6.1% | ||
| 1988 | $39.60M | +5.3% | ||
| 1987 | $37.60M | +26.2% | ||
| 1986 | $29.80M | +18.7% | ||
| 1985 | $25.10M | +470.5% | ||
| 1984 | $4.40M | +57.1% | ||
| 1983 | $2.80M | — |
Operating Income values are taken from Public Storage's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of Public Storage (PSA) operating income is $2.25B – edged up 2.4% year-over-year.
Across 2020–2025 (5 years), Public Storage operating income produced a CAGR of +9.8% – with the latest reading among the more recent periods of the dataset.
Public Storage operating income peaked at $2.32B in 2023; the latest annual figure is $2.25B in 2025 (2.8% below peak).
The dataset's maximum operating income sits at $2.32B (2023); the minimum reading of $2.80M dates to 1983.
Within Real Estate, Public Storage (PSA) ranks 4th among 8 peers we track. The peer median for operating income is $1.74B.
Public Storage Operating Income by Year
Public Storage Operating Income 2025: $2.25B
Public Storage operating income in 2025 was $2.25B, edged up 2.4% from 2024.
Public Storage Operating Income 2024: $2.20B
Public Storage operating income in 2024 was $2.20B, declined 5.1% below 2023.
Public Storage Operating Income 2023: $2.32B
Public Storage operating income in 2023 was $2.32B, grew 6.9% from 2022. This figure represents the highest annual value in the available history.
Public Storage Operating Income 2022: $2.17B
Public Storage operating income in 2022 was $2.17B, grew 27.2% from 2021.
Public Storage Operating Income 2021: $1.71B
Public Storage operating income in 2021 was $1.71B.
See more financial history for Public Storage (PSA).
Sector peers — Operating Income
Companies in the same sector as Public Storage, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| American Tower Corporation (AMT) | $4.88B | Real Estate |
| Prologis, Inc. (PLD) | $3.54B | Real Estate |
| Simon Property Group, Inc. (SPG) | $3.18B | Real Estate |
| Equinix, Inc. (EQIX) | $1.85B | Real Estate |
| Realty Income Corporation (O) | $1.63B | Real Estate |
| CBRE Group, Inc. (CBRE) | $1.29B | Real Estate |
| Digital Realty Trust, Inc. (DLR) | $658.49M | Real Estate |
| Welltower Inc. (WELL) | $355.17M | Real Estate |
Frequently asked questions
What is Public Storage's operating income?
- Latest reported operating income for Public Storage (PSA) is $2.47B (period ending March 31, 2026).
How has Public Storage operating income changed year-over-year?
- Public Storage (PSA) operating income changed +2.4% year-over-year on the latest annual filing.
What is the long-term growth rate of Public Storage operating income?
- Public Storage (PSA) operating income compound annual growth rate is +9.8% over the most recent 5 years available.
When did Public Storage operating income hit its highest annual value?
- Public Storage operating income reached its highest annual value of $2.32B in 2023.
What was Public Storage operating income in 2024?
- Public Storage (PSA) operating income in 2024 was $2.20B.
What was Public Storage operating income in 2025?
- Public Storage (PSA) operating income in 2025 was $2.25B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
Explore more
PSA Overview
Company profile, financial tools, and key metrics
PSA Revenue Counter
Earns $152.97 every second. See per minute, hour, and day.
PSA Earnings Counter
Earns $56.58 per second net profit. See per minute, hour, and day.
PSA Economic Scale
Exceeds Liberia's GDP. Compare with world economies.
PSA What If Invested
What if you had invested $1,000? See historical returns from any date.
PSA How It Makes Money
Discover visual breakdown of $4.82B in revenue — where it comes from and where it goes.
PSA Stock Seasonality
Best and worst months to invest. Historical monthly returns heatmap.
PSA Price Target Scenarios
Model bear, base, and bull cases with EPS growth and exit P/E — pre-filled from analysts and history.
PSA Daily Price Character
Steady · 45.5% historical win rate (green days). Streaks & record days.
PSA Buybacks
Recent repurchase activity. Shareholder yield & SBC comparison.
PSA Dividend Profile
Yield: 4.08%. Safety: 3/8. See full history.
PSA Dividend Calculator
How much dividend income would $1,000 have earned? Calculate from any date.
PSA Dividend Forecast
Project future income with DRIP, growth assumptions, and optional monthly contributions.