Question 1

What is Public Storage's P/B ratio?

Accepted Answer

Public Storage (PSA) P/B ratio is 5.9× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Public Storage?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Public Storage specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

Is Public Storage's P/B ratio high or low?

Accepted Answer

Public Storage's P/B ratio of 5.9× is above its own 5-year average of 5.5× and above the sector median of 2.1×. That places the current reading at the 72th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Public Storage's historical P/B ratio range?

Accepted Answer

In the available daily series, Public Storage (PSA) P/B ratio has ranged from a low of 0.9× in 2003 to a high of 7.9× in 2022. The 5-year average is 5.5× and the 5-year median is 5.4×.

Question 7

What was Public Storage's P/B ratio in 2025?

Accepted Answer

Public Storage (PSA) P/B ratio at the end of 2025 was 4.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Public Storage's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$45.53B	$9.25B	4.9×	-0.5×	Dec 31, 2025
2024	$52.46B	$9.71B	5.4×	+0.1×	Dec 31, 2024
2023	$53.58B	$10.01B	5.4×	+0.5×	Dec 31, 2023
2022	$49.13B	$10.07B	4.9×	-2.1×	Dec 31, 2022
2021	$65.57B	$9.34B	7.0×	+2.3×	Dec 31, 2021
2020	$40.30B	$8.56B	4.7×	+0.6×	Dec 31, 2020
2019	$37.14B	$9.06B	4.1×	+0.2×	Dec 31, 2019
2018	$35.23B	$9.12B	3.9×	-0.2×	Dec 31, 2018
2017	$36.32B	$8.94B	4.1×	-0.1×	Dec 31, 2017
2016	$38.71B	$9.41B	4.1×	-0.6×	Dec 31, 2016
2015	$42.82B	$9.17B	4.7×	+1.3×	Dec 31, 2015
2014	$31.87B	$9.48B	3.4×	+0.4×	Dec 31, 2014
2013	$25.85B	$8.79B	2.9×	-0.1×	Dec 31, 2013
2012	$24.77B	$8.09B	3.1×	+0.3×	Dec 31, 2012
2011	$22.87B	$8.29B	2.8×	+0.8×	Dec 31, 2011
2010	$17.14B	$8.68B	2.0×	+0.4×	Dec 31, 2010
2009	$13.72B	$8.93B	1.5×	+0.0×	Dec 31, 2009
2008	$13.38B	$8.72B	1.5×	+0.1×	Dec 31, 2008
2007	$12.38B	$8.76B	1.4×	-0.6×	Dec 31, 2007
2006	$16.50B	$8.21B	2.0×	+0.2×	Dec 31, 2006
2005	$8.67B	$4.82B	1.8×	+0.2×	Dec 31, 2005
2004	$7.16B	$4.43B	1.6×	+0.3×	Dec 31, 2004
2003	$5.49B	$4.22B	1.3×	+0.3×	Dec 31, 2003
2002	$4.00B	$4.16B	1.0×	-0.1×	Dec 31, 2002
2001	$4.02B	$3.91B	1.0×	—	Dec 31, 2001


Essex Property Trust (ESS)	2.9×
Federal Realty Investment Trust (FRT)	2.8×
Digital Realty Trust (DLR)	2.7×
Mid-America Apartment Communities (MAA)	2.6×
Camden Property Trust (CPT)	2.5×
Prologis (PLD)	2.3×
CoStar Group (CSGP)	2.1×
Equity Residential (EQR)	2.1×
Regency Centers (REG)	2.1×
Extra Space Storage (EXR)	2.1×
AvalonBay Communities (AVB)	1.9×
Host Hotels & Resorts (HST)	1.9×
STAG Industrial (STAG)	1.9×
NNN REIT (NNN)	1.8×
Invitation Homes (INVH)	1.7×
BXP (BXP)	1.6×
Healthpeak Properties (DOC)	1.5×
Kimco Realty (KIM)	1.5×
Agree Realty (ADC)	1.4×
Realty Income (O)	1.4×
VICI Properties (VICI)	1.0×
Apartment Investment and Management (AIV)	0.8×
Medical Properties Trust (MPT)	0.6×
Alexandria Real Estate Equities (ARE)	0.6×
Arbor Realty Trust (ABR)	0.5×

P/B Ratio for Public Storage (PSA)

P/B Ratio daily chart for Public Storage (PSA)

Historical P/B Ratio for Public Storage (PSA) from 2001 to 2025

About P/B Ratio at Public Storage (PSA)

Public Storage P/B Ratio by Year

Public Storage P/B Ratio 2025: 4.9×

Public Storage P/B Ratio 2024: 5.4×

Public Storage P/B Ratio 2023: 5.4×

Public Storage P/B Ratio 2022: 4.9×

Public Storage P/B Ratio 2021: 7.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Public Storage (PSA) Key Financials

P/B Ratio daily chart for Public Storage (PSA)

Historical P/B Ratio for Public Storage (PSA) from 2001 to 2025

About P/B Ratio at Public Storage (PSA)

Public Storage P/B Ratio by Year

Public Storage P/B Ratio 2025: 4.9×

Public Storage P/B Ratio 2024: 5.4×

Public Storage P/B Ratio 2023: 5.4×

Public Storage P/B Ratio 2022: 4.9×

Public Storage P/B Ratio 2021: 7.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Public Storage's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Public Storage?

+Is Public Storage's P/B ratio high or low?

+What is Public Storage's historical P/B ratio range?

+What was Public Storage's P/B ratio in 2025?

+Why does Public Storage's P/B ratio change over time?

Public Storage (PSA) Key Financials