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Discontinued — last reported Q4 '25

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

Other financials

Income statement

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Revenue$1.2B+2.6%
Operating income$466.7M-6.7%
Net income$500.0M+39.5%
EPS (diluted)$2.55+44.9%

Balance sheet

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Cash & equivalents$259.9M-76.5%
Total debt$10.3B+9.6%
Total equity$9.2B-1.9%
Total assets$20.1B-2.1%

Cash flow

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Operating cash flow$868.4M-0.5%

Valuation

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Market cap$61.13B+23.7%
P/E30.1×+2.6×
P/S12.5×+2.1×

Profitability

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Gross margin72%
Operating margin51.6%
Net margin41.8%+3.7pp
FCF margin64.3%

Returns & leverage

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Return on equity22%+3.0pp
Debt / equity1.1×+0.1×

Where this comes from

Calculated from Public Storage’s reported figures.

The source filing: Public Storage’s 10-K, filed February 12, 2026. Open the filing →

Filed
Feb 12, 2026, 4:20 PM EST
Fiscal year
FY2025
Accession
0001628280-26-007696

FAQ

What is Public Storage's net debt?
Public Storage (PSA) reported net debt of $9.94B in Q4 2025.
How has Public Storage's net debt changed year-over-year?
Public Storage's net debt increased by 11.6% year-over-year, from $8.91B to $9.94B.
What is the long-term trend for Public Storage's net debt?
Over 5 years (2020 to 2025), Public Storage's net debt has grown at a 34.4% compound annual growth rate (CAGR), from $2.26B to $9.94B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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