What is the current annual gross margin of PSA?

As of today, PSA annual gross margin is 49.10%

What is 1-year change in PSA annual gross margin?

PSA annual gross margin is down -7.11% year-over-year

What is 3-year change in PSA annual gross margin?

PSA annual gross margin is down -3.35% over the past 3 years

How far is PSA annual gross margin from its all-time high?

PSA annual gross margin is currently -15.26% below its historical high of 57.94% set on December 31, 1989

How does PSA annual gross margin rank versus sector peers?

PSA annual gross margin is higher than 61.71% of companies in Real Estate sector

When is PSA next annual earnings release?

The next annual earnings release for PSA is on February 24, 2026

What is the current quarterly gross margin of PSA?

As of today, PSA quarterly gross margin is 49.28%

What is PSA quarterly gross margin most recent change?

PSA quarterly gross margin was down -1.46% on September 30, 2025

What is 1-year change in PSA quarterly gross margin?

PSA quarterly gross margin is down -0.18% year-over-year

How far is PSA quarterly gross margin from its all-time high?

PSA quarterly gross margin is currently -17.80% below its historical high of 59.95% set on December 31, 2015

How does PSA quarterly gross margin rank versus sector peers?

PSA quarterly gross margin is higher than 65.53% of companies in Real Estate sector

When is PSA next earnings release?

The next earnings release for PSA is on February 24, 2026

Public Storage (PSA) Gross Margin History & Chart Since 1980

Annual Gross Margin

49.10%3.76%-7.11%

December 31, 2024

Summary

Current Value: As of today, PSA annual gross margin is 49.10%, down -7.11% on December 31, 2024
Historical Performance: PSA annual gross margin is down -3.35% over the past 3 years, and down -6.37% over the past 5 years
All-Time High Comparison: PSA annual gross margin is currently -15.26% below its historical high of 57.94% set on December 31, 1989
3-Year Low Comparison: PSA annual gross margin is at its 3-year low
Sector Comparison: PSA annual gross margin is higher than 61.71% of companies in Real Estate sector

Gross Margin Chart

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Performance

PSA Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Gross Margin	Dec 31, 24	49.10%	-7.1%	-3.4%	-6.4%	+4.5%
Quarterly Gross Margin	Sep 30, 25	49.28%	-0.2%	-10.2%	-0.9%	+6.6%
Price	Jan 13, 26	$279.83	-3.6%	-3.8%	+24.5%	+173.4%
PE Ratio	Jan 13, 26	29.08	+6.6%	+134.9%	-18.6%	-33.2%
Annual Revenue	Dec 31, 24	$4.70B	+3.9%	+37.5%	+64.9%	+188.5%
Annual Gross Profit	Dec 31, 24	$2.31B	-3.5%	+32.9%	+54.4%	+201.6%
Annual Operating Margin	Dec 31, 24	46.89%	-7.8%	-1.4%	-6.4%	+4.7%
Annual Net Margin	Dec 31, 24	44.39%	-7.2%	-19.8%	-14.7%	-7.0%

Gross Margin Highs

PSA Annual Gross Margin Highs Comparison
Period	High	Date	Current
3Y	53.35%	N/A	-8.0%
5Y	53.35%	Dec 31, 22	-8.0%
All	57.94%	Dec 31, 89	-15.3%

Gross Margin Lows

PSA Annual Gross Margin Lows Comparison
Period	Low	Date	Current
3Y	49.10%	Dec 31, 24	at low
5Y	49.10%	Dec 31, 24	at low
All	0.00%	Dec 1, 80	N/A

Gross Margin History

Year	Value	Change
2024	49.10%	-7.1%
2023	52.86%	-0.9%
2022	53.35%	+5.0%
2021	50.80%	+3.2%
2020	49.21%	-6.2%
2019	52.44%	-2.9%
2018	53.99%	-1.0%
2017	54.55%	-0.7%
2016	54.95%	-0.9%
2015	55.43%	+7.1%
2014	51.75%	-0.3%
2013	51.93%	+2.1%
2012	50.85%	+4.7%
2011	48.55%	+4.8%
2010	46.32%	-1.4%
2009	46.97%	+9.2%
2008	43.01%	+46.3%
2007	29.40%	-8.3%
2006	32.07%	-30.0%
2005	45.80%	+6.1%
2004	43.15%	+1.8%
2003	42.37%	-2.9%
2002	43.62%	-1.3%

Year	Value	Change
2001	44.20%	-0.4%
2000	44.39%	-1.4%
1999	45.00%	+6.8%
1998	42.15%	+2.8%
1997	41.02%	-15.5%
1996	48.53%	+6.2%
1995	45.68%	+1.7%
1994	44.91%	+8.3%
1993	41.48%	+7.9%
1992	38.44%	-4.6%
1991	40.29%	-17.3%
1990	48.73%	-15.9%
1989	57.94%	+0.4%
1988	57.71%	-0.3%
1987	57.87%	>+9,900.0%
1986	0.00%	0.0%
1985	0.00%	0.0%
1984	0.00%	-100.0%
1983	49.12%	>+9,900.0%
1982	0.00%	0.0%
1981	0.00%	0.0%
1980	0.00%	-

FAQ

What is the current annual gross margin of PSA?
As of today, PSA annual gross margin is 49.10%
What is 1-year change in PSA annual gross margin?
PSA annual gross margin is down -7.11% year-over-year
What is 3-year change in PSA annual gross margin?
PSA annual gross margin is down -3.35% over the past 3 years
How far is PSA annual gross margin from its all-time high?
PSA annual gross margin is currently -15.26% below its historical high of 57.94% set on December 31, 1989
How does PSA annual gross margin rank versus sector peers?
PSA annual gross margin is higher than 61.71% of companies in Real Estate sector
When is PSA next annual earnings release?
The next annual earnings release for PSA is on February 24, 2026

Quarterly Gross Margin

49.28%0.73%-1.46%

September 30, 2025

Summary

Current Value: As of today, PSA quarterly gross margin is 49.28%, down -1.46% on September 30, 2025
Historical Performance: PSA quarterly gross margin is down -0.18% year-over-year, and down -10.20% over the past 3 years
All-Time High Comparison: PSA quarterly gross margin is currently -17.80% below its historical high of 59.95% set on December 31, 2015
3-Year Low Comparison: PSA quarterly gross margin is +4.16% above its 3-year low of 47.31% reached on March 31, 2024
Sector Comparison: PSA quarterly gross margin is higher than 65.53% of companies in Real Estate sector

Performance

PSA Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Gross Margin	Sep 30, 25	49.28%	-1.5%	-0.2%	-10.2%	-0.9%
Annual Gross Margin	Dec 31, 24	49.10%	–	-7.1%	-3.4%	-6.4%
Price	Jan 13, 26	$279.83	-6.6%	-3.6%	-3.8%	+24.5%
PE Ratio	Jan 13, 26	29.08	-6.6%	+6.6%	+134.9%	-18.6%
Quarterly Revenue	Sep 30, 25	$1.22B	+1.9%	+3.0%	+11.9%	+67.5%
Quarterly Gross Profit	Sep 30, 25	$603.21M	+0.4%	+2.9%	+0.5%	+66.0%
Quarterly Operating Margin	Sep 30, 25	47.17%	-0.7%	-0.4%	-10.0%	+0.2%
Quarterly Net Margin	Sep 30, 25	42.06%	+39.8%	+15.3%	–	-2.3%

Quarterly Gross Margin Highs

PSA Quarterly Gross Margin Highs Comparison
Period	High	Date	Current
1Y	50.01%	Jun 30, 25	-1.5%
3Y	55.50%	Jun 30, 23	-11.2%
5Y	55.50%	Jun 30, 23	-11.2%
All	59.95%	Dec 31, 15	-17.8%

Quarterly Gross Margin Lows

PSA Quarterly Gross Margin Lows Comparison
Period	Low	Date	Current
1Y	47.43%	Mar 31, 25	+3.9%
3Y	47.31%	Mar 31, 24	+4.2%
5Y	47.31%	Mar 31, 24	+4.2%
All	10.36%	Dec 31, 06	+375.7%

Quarterly Gross Margin History

Month	Value	Change
Sep 2025	49.28%	-1.5%
Jun 2025	50.01%	+5.4%
Mar 2025	47.43%	-4.1%
Dec 2024	49.48%	+0.2%
Sep 2024	49.37%	-1.7%
Jun 2024	50.22%	+6.2%
Mar 2024	47.31%	-1.8%
Dec 2023	48.17%	-11.0%
Sep 2023	54.15%	-2.4%
Jun 2023	55.50%	+3.2%
Mar 2023	53.78%	-1.8%
Dec 2022	54.79%	-0.2%
Sep 2022	54.88%	+0.6%
Jun 2022	54.56%	+7.2%
Mar 2022	50.90%	+0.1%
Dec 2021	50.86%	+1.2%
Sep 2021	50.27%	-1.2%
Jun 2021	50.89%	+3.9%
Mar 2021	48.96%	0.0%
Dec 2020	48.96%	-1.6%
Sep 2020	49.75%	+5.6%
Jun 2020	47.13%	-1.8%
Mar 2020	47.97%	-13.9%
Dec 2019	55.74%	+8.1%
Sep 2019	51.55%	+0.5%
Jun 2019	51.30%	+0.3%
Mar 2019	51.14%	-11.6%
Dec 2018	57.82%	+9.1%
Sep 2018	53.00%	-0.1%
Jun 2018	53.05%	+2.0%
Mar 2018	52.02%	-10.2%
Dec 2017	57.95%	+8.9%
Sep 2017	53.20%	-1.9%
Jun 2017	54.22%	+2.7%
Mar 2017	52.79%	-10.4%
Dec 2016	58.92%	+7.8%
Sep 2016	54.64%	+1.7%
Jun 2016	53.75%	+2.8%
Mar 2016	52.30%	-12.8%
Dec 2015	59.95%	+6.6%
Sep 2015	56.25%	+3.1%
Jun 2015	54.54%	+7.8%
Mar 2015	50.58%	-10.9%
Dec 2014	56.75%	+8.2%
Sep 2014	52.45%	+0.4%
Jun 2014	52.23%	+11.3%
Mar 2014	46.93%	-14.0%
Dec 2013	54.56%	+4.4%
Sep 2013	52.27%	+0.7%
Jun 2013	51.89%	+6.5%
Mar 2013	48.74%	-11.8%
Dec 2012	55.27%	+6.3%
Sep 2012	51.98%	+3.4%
Jun 2012	50.26%	+7.4%
Mar 2012	46.81%	-11.1%
Dec 2011	52.66%	+6.8%

Month	Value	Change
Sep 2011	49.29%	+3.9%
Jun 2011	47.44%	+6.5%
Mar 2011	44.54%	-11.2%
Dec 2010	50.15%	+8.5%
Sep 2010	46.21%	+1.6%
Jun 2010	45.47%	+5.2%
Mar 2010	43.24%	-13.4%
Dec 2009	49.92%	+4.0%
Sep 2009	48.01%	+3.7%
Jun 2009	46.31%	+6.2%
Mar 2009	43.60%	-2.9%
Dec 2008	44.92%	-8.0%
Sep 2008	48.80%	+13.5%
Jun 2008	42.98%	+19.9%
Mar 2008	35.85%	-6.9%
Dec 2007	38.50%	+16.4%
Sep 2007	33.08%	+34.5%
Jun 2007	24.59%	+21.4%
Mar 2007	20.25%	+95.5%
Dec 2006	10.36%	-70.3%
Sep 2006	34.94%	-27.1%
Jun 2006	47.92%	+6.3%
Mar 2006	45.08%	+3.1%
Dec 2005	43.72%	-10.1%
Sep 2005	48.65%	+6.8%
Jun 2005	45.54%	+6.7%
Mar 2005	42.67%	-3.3%
Dec 2004	44.14%	-5.2%
Sep 2004	46.56%	+4.6%
Jun 2004	44.52%	+7.7%
Mar 2004	41.34%	-0.3%
Dec 2003	41.45%	-6.4%
Sep 2003	44.28%	+6.3%
Jun 2003	41.67%	-0.3%
Mar 2003	41.81%	-1.4%
Dec 2002	42.41%	-4.4%
Sep 2002	44.35%	+2.8%
Jun 2002	43.14%	-3.0%
Mar 2002	44.48%	+1.1%
Dec 2001	44.01%	-2.2%
Sep 2001	45.01%	-0.9%
Jun 2001	45.42%	+5.5%
Mar 2001	43.04%	-5.8%
Dec 2000	45.68%	+1.5%
Sep 2000	45.01%	-2.3%
Jun 2000	46.06%	+6.0%
Mar 2000	43.44%	-1.1%
Dec 1999	43.91%	-3.4%
Sep 1999	45.46%	+0.5%
Jun 1999	45.22%	+5.1%
Mar 1999	43.02%	+5.3%
Dec 1998	40.86%	-9.5%
Sep 1998	45.16%	+5.5%
Jun 1998	42.82%	+7.8%
Mar 1998	39.73%	-

FAQ

What is the current quarterly gross margin of PSA?
As of today, PSA quarterly gross margin is 49.28%
What is PSA quarterly gross margin most recent change?
PSA quarterly gross margin was down -1.46% on September 30, 2025
What is 1-year change in PSA quarterly gross margin?
PSA quarterly gross margin is down -0.18% year-over-year
How far is PSA quarterly gross margin from its all-time high?
PSA quarterly gross margin is currently -17.80% below its historical high of 59.95% set on December 31, 2015
How does PSA quarterly gross margin rank versus sector peers?
PSA quarterly gross margin is higher than 65.53% of companies in Real Estate sector
When is PSA next earnings release?
The next earnings release for PSA is on February 24, 2026

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Data Sources & References

PSA Official Website www.publicstorage.com
Most Recent Quarterly Report (10-Q) www.sec.gov/Archives/edgar/data/1393311/000162828025047163/0001628280-25-047163-index.htm
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/1393311/000139331125000036/0001393311-25-000036-index.htm
PSA Profile on Yahoo Finance finance.yahoo.com/quote/PSA
PSA Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/psa