Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.56B | $2.67B | $2.76B | $2.86B | $2.92B | $3.42B | $4.18B | $4.52B | $4.70B | $4.82B |
| Revenue growth | — | 4.2% | 3.4% | 3.5% | 2.1% | 17.2% | 22.4% | 8.0% | 3.9% | 2.7% |
| Gross profit | $1.89B | $1.96B | $2.01B | — | — | — | — | — | — | — |
| Gross margin | 73.9% | 73.5% | 73.0% | — | — | — | — | — | — | — |
| Operating income | $1.37B | $1.42B | — | — | — | — | — | — | — | — |
| Operating margin | 53.7% | 53.3% | — | — | — | — | — | — | — | — |
| Net income | $1.45B | $1.44B | $1.71B | $1.52B | $1.36B | $1.95B | $4.35B | $2.15B | $2.07B | $1.78B |
| Net margin | 56.8% | 54.0% | 62.0% | 53.3% | 46.6% | 57.2% | 104.0% | 47.6% | 44.1% | 37.0% |
| EPS (diluted) | $6.81 | $6.73 | $8.54 | $7.29 | $6.29 | $9.87 | $23.50 | $11.06 | $10.64 | $9.01 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.95B | $1.97B | $2.06B | $2.07B | $2.04B | $2.54B | $3.12B | $3.25B | $3.13B | $3.19B |
| Share buybacks | — | — | — | — | — | — | $0.00 | $0.00 | $200M | $0.00 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $184M | $433M | $361M | $410M | $258M | $735M | $775M | $370M | $447M | $318M |
| Total assets | $10.1B | $10.7B | $10.9B | $11.4B | $11.8B | $17.4B | $17.6B | $19.8B | $19.8B | $20.2B |
| Total liabilities | $689M | $1.77B | $1.78B | $2.29B | $3.24B | $7.96B | $7.39B | $9.70B | $9.94B | $10.9B |
| Long-term debt | $391M | $1.43B | $1.41B | $1.90B | $2.54B | $7.48B | $6.87B | $9.10B | $9.35B | $10.3B |
| Shareholders' equity | $9.41B | $8.94B | $9.12B | $9.06B | $8.56B | $9.34B | $10.1B | $10.0B | $9.71B | $9.25B |
| Retained earnings | -$488M | -$676M | -$577M | -$666M | -$915M | -$550M | -$110M | -$268M | -$699M | -$1.22B |
| Shares (wtd avg diluted) | 174M | 174M | 174M | 175M | 175M | 176M | 176M | 176M | 176M | 176M |
Every figure is extracted from Public Storage’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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