Also trades as: PSA (NYSE) · $vol 278M · PSA-PP (NYSE) · $vol 1M · PSA-PL (NYSE) · $vol 1M · PSA-PH (NYSE) · $vol 1M · PSA-PR (NYSE) · $vol 1M · PSA-PJ (NYSE) · $vol 1M · PSA-PI (NYSE) · $vol 0M · PSA-PF (NYSE) · $vol 0M · PSA-PG (NYSE) · $vol 0M · PSA-PO (NYSE) · $vol 0M · PSA-PN (NYSE) · $vol 0M · PSA-PK (NYSE) · $vol 0M · PSA-PM (NYSE) · $vol 0M · PSA-PQ (NYSE) · $vol 0M · 0KS3.L (LSE) · $vol 0M

$14.30

-0.34 (-2.32%)

Weekly Expected Move ±2.4%

$14 $14 $14 $15 $15

NYSE · Real Estate · REIT - Industrial · Tech Score Sell · Power 40 · $55.0B mcap · 159M float · 0.015% daily turnover

Revenue Segmentation

By Product / Service

Income Trends

Revenue

$4.8B +2.7% ▲

5Y CAGR: +10.6%

Gross Profit

$1.2B -65.0% ▼

5Y CAGR: -10.1%

Operating Income

$2.3B +2.4% ▲

5Y CAGR: +9.8%

Net Income

$1.8B -13.9% ▼

5Y CAGR: +5.6%

EPS (Diluted)

$9.01 -15.3% ▼

5Y CAGR: +7.5%

EBITDA

$3.2B -7.4% ▼

5Y CAGR: +10.5%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$3.4B	$4.2B	$4.5B	$4.7B	$4.8B
YoY Growth	+17.2%	+22.4%	+8.0%	+3.9%	+2.7%
Cost of Revenue	$921M	$1.1B	$1.1B	$1.3B	$3.6B
Gross Profit	$2.5B	$3.1B	$3.4B	$3.4B	$1.2B
Gross Margin	73.0%	74.8%	74.6%	73.2%	25.0%
R&D Expenses	$8M	$18M	$0	$0	$0
SG&A Expenses	$76M	$72M	$81M	$107M	$107M
Operating Expenses	$789M	$960M	$1.1B	$1.2B	-$1.1B
Operating Income	$1.7B	$2.2B	$2.3B	$2.2B	$2.3B
Operating Margin	49.9%	51.9%	51.3%	46.9%	46.7%
Interest Expense	$91M	$136M	$201M	$287M	$304M
Income Before Tax	$2.0B	$4.4B	$2.2B	$2.1B	$1.8B
Tax Expense	$12M	$14M	$11M	$5M	-$7M
Net Income	$2.0B	$4.3B	$2.1B	$2.1B	$1.8B
Net Margin	57.2%	104.0%	47.6%	44.1%	37.0%
EPS (Diluted)	$9.87	$23.50	$11.06	$10.64	$9.01
EBITDA	$2.8B	$5.4B	$3.3B	$3.5B	$3.2B
Shares Outstanding	176M	176M	176M	176M	176M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B
Cost of Revenue	$322M	$311M	$332M	$318M	$331M	$924M	$340M	$344M
Gross Profit	$866M	$867M	$851M	$883M	$893M	$292M	$878M	$889M
Gross Margin	72.9%	73.6%	72.0%	73.5%	73.0%	24.0%	72.1%	72.1%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$26M	$33M	$25M	$25M	$29M	$27M	$57M	$44M
Operating Expenses	$307M	$313M	$308M	$308M	$29M	-$265M	$403M	$422M
Operating Income	$560M	$553M	$543M	$575M	$864M	$557M	$474M	$467M
Operating Margin	47.1%	47.0%	45.9%	47.9%	70.6%	45.8%	38.9%	37.9%
Interest Expense	$74M	$72M	$72M	$72M	$80M	$81M	$80M	$85M
Income Before Tax	$436M	$617M	$412M	$365M	$518M	$495M	$531M	$506M
Tax Expense	$2M	-$1M	$1M	$3M	$3M	-$15M	$2M	$3M
Net Income	$430M	$615M	$408M	$358M	$511M	$507M	$526M	$500M
Net Margin	36.2%	52.2%	34.5%	29.8%	41.8%	41.7%	43.2%	40.6%
EPS (Diluted)	$2.16	$3.21	$2.04	$1.76	$2.62	$2.60	$2.71	$2.55
EBITDA	$790M	$970M	$767M	$719M	$888M	$872M	$743M	$878M
Shares Outstanding	176M	176M	176M	176M	176M	176M	176M	177M

PSA-PS NYSE

Revenue Segmentation

By Product / Service

Income Trends

Profit Margins

Year-over-Year Growth

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