What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

Public Storage PSA Free cash flow margin

Discontinued — last reported Q1 '20

Free cash flow margin at other companies

U-Haul HoldingUHAL

-22.5%-5.8pp

Extra Space StorageEXR

54.4%-3.2pp

National Storage AffiliatesNSA

39.6%-4.4pp

Janus International GroupJBI

11.8%-4.7pp

Realty IncomeO

66.7%+2.7pp

Equity Lifestyle PropertiesELS

21.7%-1.8pp

Other financials

Income statement

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Revenue$1.2B+2.9%

Operating income$474.3M+2.2%

Net income$526.3M+29.1%

EPS (diluted)$2.71+32.8%

Balance sheet

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Cash & equivalents$134.6M-53.1%

Total debt$10.3B+9.6%

Total equity$9.2B-3.6%

Total assets$19.9B+1.2%

Cash flow

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Operating cash flow$694.8M-1.5%

Valuation

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Market cap$56.32B+10.7%

P/E29.6×+3.8×

P/S11.6×+0.8×

Profitability

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Gross margin72%—

Operating margin51.6%—

Net margin39.2%-2.6pp

Returns & leverage

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Return on equity20.3%+0.1pp

Debt / equity1.1×+0.1×

Where this comes from

Calculated from Public Storage’s reported figures.

free cash flow/total revenue=64.3%

Based on trailing twelve months.

The official record: Public Storage’s 10-Q, filed April 28, 2021, on SEC EDGAR. View the filing →

Questions, answered.

What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.