What is the current annual operating margin of PSA?

As of today, PSA annual operating margin is 46.73%

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

PSA annual operating margin is down -0.34% year-over-year

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

PSA annual operating margin is down -9.07% over the past 3 years

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

PSA annual operating margin is currently -34.30% below its historical high of 71.13% set on December 1, 1981

How does PSA annual operating margin rank versus sector peers?

PSA annual operating margin is higher than 78.35% of companies in Real Estate sector

When is PSA next annual earnings release?

The next annual earnings release for PSA is on February 11, 2027

What is the current quarterly operating margin of PSA?

As of today, PSA quarterly operating margin is 39.14%

What is PSA quarterly operating margin most recent change?

PSA quarterly operating margin was down -13.00% on September 30, 2026

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

PSA quarterly operating margin is down -17.02% year-over-year

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

PSA quarterly operating margin is currently -60.86% below its historical high of 100.00% set on December 31, 2000

How does PSA quarterly operating margin rank versus sector peers?

PSA quarterly operating margin is higher than 73.17% of companies in Real Estate sector

When is PSA next earnings release?

The next earnings release for PSA is on February 11, 2027

Public Storage (PSA) Operating Margin History & Chart

Annual Operating Margin

46.73%0.16%-0.34%

December 31, 2025

Summary

Current Value: As of today, PSA annual operating margin is 46.73%, down -0.34% on December 31, 2025
Historical Performance: PSA annual operating margin is down -9.07% over the past 3 years, up +0.21% over the past 5 years
All-Time High Comparison: PSA annual operating margin is currently -34.30% below its historical high of 71.13% set on December 1, 1981
3-Year Low Comparison: PSA annual operating margin is at its 3-year low
Sector Comparison: PSA annual operating margin is higher than 78.35% of companies in Real Estate sector

Operating Margin Chart

beforeafter

Performance

PSA Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Operating Margin	Dec 31, 25	46.73%	-0.3%	-9.1%	+0.2%	+10.9%
Quarterly Operating Margin	Sep 30, 26	39.14%	-17.0%	-24.3%	-17.1%	-12.8%
Price	Oct 29, 26	$317.06	+9.6%	+32.9%	-4.5%	+141.1%
PE Ratio	Oct 29, 26	33.18	+10.4%	+51.7%	-16.4%	-23.3%
Annual Revenue	Dec 31, 25	$4.82B	+2.7%	+15.3%	+65.5%	+192.9%
Annual Operating Profit	Dec 31, 25	$2.25B	+2.4%	+4.9%	+65.9%	+224.8%
Annual Gross Margin	Dec 31, 25	48.84%	-0.5%	-8.4%	-0.8%	+5.4%
Annual Net Margin	Dec 31, 25	37.25%	-16.1%	–	-16.6%	-6.5%

Operating Margin Highs

PSA Annual Operating Margin Highs Comparison
Period	High	Date	Current
3Y	51.39%	N/A	-9.1%
5Y	51.39%	Dec 31, 22	-9.1%
All	71.13%	Dec 1, 81	-34.3%

Operating Margin Lows

PSA Annual Operating Margin Lows Comparison
Period	Low	Date	Current
3Y	46.73%	Dec 31, 25	at low
5Y	46.63%	N/A	+0.2%
All	-37.88%	Dec 31, 89	+223.4%

Operating Margin History

Year	Value	Change
2025	46.73%	-0.3%
2024	46.89%	-7.8%
2023	50.88%	-1.0%
2022	51.39%	+8.1%
2021	47.53%	+1.9%
2020	46.63%	-6.9%
2019	50.09%	-9.6%
2018	55.38%	+7.3%
2017	51.62%	-0.4%
2016	51.83%	+0.2%
2015	51.73%	+6.7%
2014	48.47%	+0.5%
2013	48.24%	+1.1%
2012	47.73%	+8.0%
2011	44.18%	+4.8%
2010	42.15%	-5.9%
2009	44.77%	+13.6%
2008	39.42%	+74.0%
2007	22.66%	-4.9%
2006	23.83%	-44.6%
2005	43.04%	+4.7%
2004	41.11%	+1.7%
2003	40.42%	-3.2%

Year	Value	Change
2002	41.76%	+0.5%
2001	41.55%	+0.3%
2000	41.44%	-3.8%
1999	43.06%	+6.2%
1998	40.54%	+6.4%
1997	38.11%	-13.7%
1996	44.14%	+20.5%
1995	36.62%	+4.5%
1994	35.05%	+13.8%
1993	30.80%	+56.1%
1992	19.73%	+141.5%
1991	8.17%	+237.1%
1990	-5.96%	+84.3%
1989	-37.88%	-19.3%
1988	-31.74%	-3.0%
1987	-30.83%	-72.8%
1986	-17.84%	-1,036.3%
1985	-1.57%	-115.8%
1984	9.96%	-79.7%
1983	49.12%	+37.2%
1982	35.81%	-49.7%
1981	71.13%	+12.7%
1980	63.10%	-

FAQ

What is the current annual operating margin of PSA?: As of today, PSA annual operating margin is 46.73%
What is 1-year change in PSA annual operating margin?: PSA annual operating margin is down -0.34% year-over-year
What is 3-year change in PSA annual operating margin?: PSA annual operating margin is down -9.07% over the past 3 years
How far is PSA annual operating margin from its all-time high?: PSA annual operating margin is currently -34.30% below its historical high of 71.13% set on December 1, 1981
How does PSA annual operating margin rank versus sector peers?: PSA annual operating margin is higher than 78.35% of companies in Real Estate sector
When is PSA next annual earnings release?: The next annual earnings release for PSA is on February 11, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Quarterly Operating Margin

39.14%5.85%-13.00%

September 30, 2026

Summary

Current Value: As of today, PSA quarterly operating margin is 39.14%, down -13.00% on September 30, 2026
Historical Performance: PSA quarterly operating margin is down -17.02% year-over-year, down -24.28% over the past 3 years
All-Time High Comparison: PSA quarterly operating margin is currently -60.86% below its historical high of 100.00% set on December 31, 2000
3-Year Low Comparison: PSA quarterly operating margin is at its 3-year low
Sector Comparison: PSA quarterly operating margin is higher than 73.17% of companies in Real Estate sector

Performance

PSA Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Operating Margin	Sep 30, 26	39.14%	-13.0%	-17.0%	-24.3%	-17.1%
Annual Operating Margin	Dec 31, 25	46.73%	–	-0.3%	-9.1%	+0.2%
Price	Oct 29, 26	$317.06	-3.8%	+9.6%	+32.9%	-4.5%
PE Ratio	Oct 29, 26	33.18	+5.6%	+10.4%	+51.7%	-16.4%
Quarterly Revenue	Sep 30, 26	$1.37B	+10.8%	+11.6%	+19.4%	+52.7%
Quarterly Operating Profit	Sep 30, 26	$534.68M	-3.6%	-7.4%	-9.6%	+26.5%
Quarterly Gross Margin	Sep 30, 26	41.96%	-13.7%	-14.8%	-22.5%	-16.5%
Quarterly Net Margin	Sep 30, 26	27.69%	-32.1%	-34.2%	-48.6%	-47.5%

Quarterly Operating Margin Highs

PSA Quarterly Operating Margin Highs Comparison
Period	High	Date	Current
1Y	47.17%	N/A	-17.0%
3Y	51.69%	N/A	-24.3%
5Y	53.30%	Jun 30, 23	-26.6%
All	100.00%	Dec 31, 00	-60.9%

Quarterly Operating Margin Lows

PSA Quarterly Operating Margin Lows Comparison
Period	Low	Date	Current
1Y	39.14%	Sep 30, 26	at low
3Y	39.14%	Sep 30, 26	at low
5Y	39.14%	Sep 30, 26	at low
All	-266.23%	Dec 31, 94	+114.7%

Quarterly Operating Margin History

Month	Value	Change
Sep 2026	39.14%	-13.0%
Jun 2026	44.99%	-0.1%
Mar 2026	45.05%	-1.6%
Dec 2025	45.79%	-2.9%
Sep 2025	47.17%	-0.7%
Jun 2025	47.51%	+5.0%
Mar 2025	45.23%	-3.2%
Dec 2024	46.72%	-1.4%
Sep 2024	47.38%	-1.5%
Jun 2024	48.12%	+6.3%
Mar 2024	45.25%	-5.3%
Dec 2023	47.78%	-7.6%
Sep 2023	51.69%	-3.0%
Jun 2023	53.30%	+3.3%
Mar 2023	51.62%	-1.8%
Dec 2022	52.59%	+0.3%
Sep 2022	52.42%	+1.4%
Jun 2022	51.71%	+7.1%
Mar 2022	48.30%	-0.1%
Dec 2021	48.36%	+2.4%
Sep 2021	47.23%	-1.1%
Jun 2021	47.75%	+2.4%
Mar 2021	46.63%	-0.1%
Dec 2020	46.68%	-0.8%
Sep 2020	47.07%	+5.9%
Jun 2020	44.45%	-2.8%
Mar 2020	45.72%	-13.8%
Dec 2019	53.06%	+7.4%
Sep 2019	49.40%	+0.1%
Jun 2019	49.33%	+1.7%
Mar 2019	48.51%	-36.1%
Dec 2018	75.92%	+54.2%
Sep 2018	49.24%	+1.2%
Jun 2018	48.64%	+2.4%
Mar 2018	47.51%	-13.7%
Dec 2017	55.08%	+9.9%
Sep 2017	50.10%	-3.9%
Jun 2017	52.13%	+6.1%
Mar 2017	49.12%	-12.2%
Dec 2016	55.95%	+8.8%
Sep 2016	51.43%	+0.9%
Jun 2016	50.98%	+4.5%
Mar 2016	48.77%	-14.1%
Dec 2015	56.76%	+8.2%
Sep 2015	52.44%	+7.2%
Jun 2015	48.90%	+12.3%
Mar 2015	43.53%	-15.0%
Dec 2014	51.22%	+3.9%
Sep 2014	49.30%	+0.6%
Jun 2014	48.99%	+15.0%
Mar 2014	42.61%	-16.4%
Dec 2013	50.96%	+4.6%
Sep 2013	48.73%	-0.3%
Jun 2013	48.86%	+10.7%
Mar 2013	44.12%	-16.0%
Dec 2012	52.54%	+10.1%
Sep 2012	47.70%	+2.7%
Jun 2012	46.44%	+10.8%
Mar 2012	41.90%	-14.2%

Month	Value	Change
Dec 2011	48.86%	+8.9%
Sep 2011	44.88%	+3.9%
Jun 2011	43.18%	+9.4%
Mar 2011	39.48%	-14.2%
Dec 2010	46.04%	+9.0%
Sep 2010	42.25%	+2.5%
Jun 2010	41.22%	+6.1%
Mar 2010	38.86%	-18.4%
Dec 2009	47.63%	+7.9%
Sep 2009	44.15%	+3.9%
Jun 2009	42.51%	+8.4%
Mar 2009	39.20%	-10.0%
Dec 2008	43.54%	-2.6%
Sep 2008	44.68%	+35.8%
Jun 2008	32.89%	+13.2%
Mar 2008	29.05%	-12.0%
Dec 2007	33.00%	+20.4%
Sep 2007	27.42%	+66.4%
Jun 2007	16.48%	+32.9%
Mar 2007	12.40%	+967.1%
Dec 2006	-1.43%	-106.3%
Sep 2006	22.68%	-49.6%
Jun 2006	44.96%	+6.8%
Mar 2006	42.09%	+1.3%
Dec 2005	41.54%	-8.9%
Sep 2005	45.60%	+7.2%
Jun 2005	42.53%	+6.4%
Mar 2005	39.96%	-6.5%
Dec 2004	42.73%	-3.4%
Sep 2004	44.23%	+4.0%
Jun 2004	42.54%	+10.0%
Mar 2004	38.69%	-2.7%
Dec 2003	39.75%	-5.9%
Sep 2003	42.25%	+6.6%
Jun 2003	39.65%	-0.3%
Mar 2003	39.78%	-60.2%
Dec 2002	100.00%	+135.0%
Sep 2002	42.55%	+3.5%
Jun 2002	41.11%	-5.8%
Mar 2002	43.64%	-56.4%
Dec 2001	100.00%	+137.5%
Sep 2001	42.11%	+4.8%
Jun 2001	40.17%	-1.8%
Mar 2001	40.89%	-59.1%
Dec 2000	100.00%	+137.5%
Sep 2000	42.10%	-2.0%
Jun 2000	42.95%	+3.1%
Mar 2000	41.64%	-1.0%
Dec 1999	42.07%	-1.2%
Sep 1999	42.59%	+2.7%
Jun 1999	41.46%	+1.8%
Mar 1999	40.72%	+2.8%
Dec 1998	39.62%	-7.2%
Sep 1998	42.70%	+5.5%
Jun 1998	40.46%	+8.7%
Mar 1998	37.23%	+116.3%
Dec 1995	-228.77%	+14.1%
Dec 1994	-266.23%	-

FAQ

What is the current quarterly operating margin of PSA?: As of today, PSA quarterly operating margin is 39.14%
What is PSA quarterly operating margin most recent change?: PSA quarterly operating margin was down -13.00% on September 30, 2026
What is 1-year change in PSA quarterly operating margin?: PSA quarterly operating margin is down -17.02% year-over-year
How far is PSA quarterly operating margin from its all-time high?: PSA quarterly operating margin is currently -60.86% below its historical high of 100.00% set on December 31, 2000
How does PSA quarterly operating margin rank versus sector peers?: PSA quarterly operating margin is higher than 73.17% of companies in Real Estate sector
When is PSA next earnings release?: The next earnings release for PSA is on February 11, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Data Sources & References

PSA Official Website www.publicstorage.com
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/1393311/000162828026007696/0001628280-26-007696-index.htm
PSA Profile on Yahoo Finance finance.yahoo.com/quote/PSA
PSA Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/psa