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Public Storage PSA Operating margin

Discontinued — last reported Q3 '18

Operating margin at other companies

Extra Space Storage logo
Extra Space StorageEXR
40.8%-1.2pp
Prologis logo
PrologisPLD
47.5%-1.0pp
AvalonBay Communities logo
AvalonBay CommunitiesAVB
67%+0.9pp
Costco Wholesale logo
Costco WholesaleCOST
3.8%+0.1pp

Other financials

Income statement

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Revenue$1.2B+2.9%
Operating income$474.3M+2.2%
Net income$526.3M+29.0%
EPS (diluted)$2.71+32.8%

Balance sheet

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Cash & equivalents$134.6M-53.1%
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$54.88B-9.4%
P/E28.8×-1.9×
P/S11.3×-1.5×

Profitability

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Gross margin72%
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.

Based on trailing twelve months.

The official record: Public Storage’s 10-Q, filed October 30, 2019, on SEC EDGAR. View the filing →

Questions, answered.

What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.