Question 1

What is Public Storage's P/E ratio?

Accepted Answer

Public Storage (PSA) P/E ratio is 28.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

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

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Public Storage specifically, the relevant sector benchmark is the current sector median of 28.1×.

Question 5

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

Accepted Answer

Public Storage's P/E ratio of 28.8× is above its own 5-year average of 24.4× and above the sector median of 28.1×. 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/E ratio range?

Accepted Answer

In the available daily series, Public Storage (PSA) P/E ratio has ranged from a low of 9.8× in 2023 to a high of 62.6× in 2007. The 5-year average is 24.4× and the 5-year median is 25.2×.

Question 7

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

Accepted Answer

Public Storage (PSA) P/E ratio at the end of 2025 was 25.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$45.5B	$1.78B	25.5×	+0.2×	Dec 31, 2025
2024	$52.5B	$2.07B	25.3×	+0.4×	Dec 31, 2024
2023	$53.6B	$2.15B	24.9×	+13.6×	Dec 31, 2023
2022	$49.1B	$4.35B	11.3×	-22.3×	Dec 31, 2022
2021	$65.6B	$1.95B	33.6×	+3.9×	Dec 31, 2021
2020	$40.3B	$1.36B	29.7×	+5.3×	Dec 31, 2020
2019	$37.1B	$1.52B	24.4×	+3.8×	Dec 31, 2019
2018	$35.2B	$1.71B	20.6×	-4.6×	Dec 31, 2018
2017	$36.3B	$1.44B	25.2×	-1.4×	Dec 31, 2017
2016	$38.7B	$1.45B	26.6×	-6.0×	Dec 31, 2016
2015	$42.8B	$1.31B	32.7×	+4.8×	Dec 31, 2015
2014	$31.9B	$1.14B	27.9×	+3.3×	Dec 31, 2014
2013	$25.9B	$1.05B	24.6×	-1.8×	Dec 31, 2013
2012	$24.8B	$939M	26.4×	-1.4×	Dec 31, 2012
2011	$22.9B	$824M	27.8×	+2.3×	Dec 31, 2011
2010	$17.1B	$672M	25.5×	+9.1×	Dec 31, 2010
2009	$13.7B	$835M	16.4×	+2.1×	Dec 31, 2009
2008	$13.4B	$935M	14.3×	-12.7×	Dec 31, 2008
2007	$12.4B	$458M	27.0×	-25.5×	Dec 31, 2007
2006	$16.5B	$314M	52.5×	+33.5×	Dec 31, 2006
2005	$8.67B	$456M	19.0×	-0.6×	Dec 31, 2005
2004	$7.16B	$366M	19.6×	+3.2×	Dec 31, 2004
2003	$5.49B	$337M	16.3×	+3.7×	Dec 31, 2003
2002	$4B	$319M	12.6×	—	Dec 31, 2002


Realty Income (O)	49.4×
Digital Realty Trust (DLR)	45.1×
Weyerhaeuser (WY)	44.4×
Agree Realty (ADC)	41.1×
Mid-America Apartment Communities (MAA)	36.5×
Tanger (SKT)	31.0×
CBRE Group (CBRE)	30.4×
Prologis (PLD)	30.0×
Extra Space Storage (EXR)	29.3×
STAG Industrial (STAG)	28.2×
American Tower (AMT)	28.0×
Camden Property Trust (CPT)	26.4×
BXP (BXP)	26.0×
Invitation Homes (INVH)	25.8×
Kimco Realty (KIM)	24.5×
UDR (UDR)	22.5×
Regency Centers (REG)	22.1×
NNN REIT (NNN)	20.5×
AvalonBay Communities (AVB)	20.0×
SBA Communications (SBAC)	17.9×
Host Hotels & Resorts (HST)	13.1×
Simon Property Group (SPG)	12.9×
Arbor Realty Trust (ABR)	12.6×
VICI Properties (VICI)	9.4×
Apartment Investment and Management (AIV)	1.0×

P/E Ratio for Public Storage (PSA) 2002-2026

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

Historical P/E Ratio for Public Storage (PSA) from 2002 to 2025

About P/E Ratio at Public Storage (PSA)

Public Storage P/E Ratio by Year

Public Storage P/E Ratio 2025: 25.5×

Public Storage P/E Ratio 2024: 25.3×

Public Storage P/E Ratio 2023: 24.9×

Public Storage P/E Ratio 2022: 11.3×

Public Storage P/E Ratio 2021: 33.6×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Public Storage (PSA) Key Financials