Financials Public Storage NYSE

Stocks

PSA.PRM

US74460W5379

Specialized REITs

Market Closed - NYSE Other stock markets 06:10:00 11/07/26 am AEST			5-day change	1st Jan Change
15.94 ^USD	-0.26%		+0.05%	-2.76%

10/07	UBS Adjusts Price Target on Public Storage to $326 From $314, Maintains Neutral Rating	MT
10/07	UBS Adjusts Price Target on Public Storage to $326 From $314	MT

Projected Income Statement: Public Storage

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	3,204	4,182	4,518	4,696	4,824	5,013	5,373	5,438
Change	-	30.55%	8.02%	3.94%	2.74%	3.91%	7.19%	1.2%
EBITDA ¹	2,394	3,015	3,263	3,315	3,388	3,539	3,770	3,835
Change	-	25.92%	8.23%	1.62%	2.19%	4.45%	6.53%	1.73%
EBIT ¹	1,681	2,126	2,293	2,186	2,236	2,263	2,372	2,518
Change	-	26.53%	7.82%	-4.66%	2.31%	1.21%	4.8%	6.17%
Interest Paid ¹	-90.77	-136.3	-201.1	-287.4	-304.5	-356.3	-409	-425.6
Earnings before Tax (EBT) ¹	1,960	4,366	2,171	2,089	1,790	2,268	2,417	-
Change	-	122.81%	-50.28%	-3.77%	-14.33%	26.73%	6.57%	-
Net income ¹	1,732	4,142	1,949	1,873	1,586	1,848	1,919	1,991
Change	-	139.1%	-52.95%	-3.9%	-15.33%	16.57%	3.81%	3.74%
Announcement Date	22/2/22	21/2/23	20/2/24	24/2/25	12/2/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	829.3	894.9	869.7	973.4	1,032	1,088	1,089	1,094	1,120	1,144	1,160	1,157	1,173	1,188	1,177	1,183	1,201	1,224	1,216	1,218	1,228	1,295	1,318	1,344	1,405	1,436	1,430	1,399
Change	-	7.91%	-2.82%	11.93%	6.02%	5.43%	0.04%	0.52%	2.33%	2.15%	1.4%	-0.23%	1.38%	1.24%	-0.87%	0.49%	1.51%	1.91%	-0.67%	0.16%	0.86%	5.47%	1.78%	1.95%	4.56%	2.18%	-0.41%	-2.2%
EBITDA ¹	583	626.5	665.2	689.4	748	781.6	795.5	796.3	814.5	826.3	833.1	807.7	842.7	837.3	827.8	818.7	854.8	861.6	852.8	845	875.5	923.6	921.5	924.7	975.2	989.1	984.7	947
Change	-	7.47%	6.18%	3.63%	8.51%	4.49%	1.79%	0.1%	2.28%	1.45%	0.83%	-3.05%	4.33%	-0.64%	-1.14%	-1.09%	4.41%	0.79%	-1.02%	-0.91%	3.61%	5.49%	-0.23%	0.35%	5.46%	1.43%	-0.44%	-3.83%
EBIT ¹	410.3	438	459.9	467.2	529.3	560.8	569	574.7	592.3	587.5	545.6	522.5	559.3	557	546.9	536	571.6	571.2	557.2	554.3	582.7	607.4	567.5	569.3	599.2	600.5	587	615.6
Change	-	6.75%	5.01%	1.59%	13.28%	5.95%	1.46%	0.99%	3.07%	-0.81%	-7.14%	-4.23%	7.05%	-0.42%	-1.82%	-1.98%	6.64%	-0.07%	-2.45%	-0.53%	5.13%	4.24%	-6.57%	0.32%	5.25%	0.22%	-2.25%	4.88%
Charge d'intérêts ¹	-21.99	-23.74	-29.79	-33.12	-32.94	-34.11	-36.14	-36.1	-38.08	-58.35	-68.6	-67.78	-73.24	-74.25	-72.14	-72.01	-71.61	-79.69	-81.18	-80.02	-85.82	-93.34	-100.2	-105.6	-107.3	-108.7	-109.5	-
Earnings before Tax (EBT) ¹	410.4	448.9	622	516.3	653.8	2,769	414.9	520.4	-	613.3	444.3	513.2	523.3	435.6	617	412.2	364.7	517.6	495.3	530.9	506.1	624.6	606.5	591.4	605.7	617.3	602.8	-
Change	-	9.38%	38.56%	-17%	26.64%	323.49%	-85.01%	25.42%	-	-	-27.56%	15.51%	1.97%	-16.75%	41.63%	-33.19%	-11.54%	41.95%	-4.3%	7.19%	-4.67%	23.4%	-2.89%	-2.49%	2.43%	1.9%	-2.33%	-
Net income ¹	346.2	442.3	558.1	464.1	603.4	2,712	362.6	467.6	528.3	563.2	389.7	459.2	468.4	380.7	564.4	358.2	309	461.4	457	476.8	449.2	522.9	470.3	465.3	502.8	512	504.3	474.5
Change	-	27.75%	26.16%	-16.83%	30%	349.49%	-86.63%	28.95%	12.98%	6.62%	-30.82%	17.85%	1.99%	-18.71%	48.25%	-36.53%	-13.75%	49.34%	-0.96%	4.33%	-5.79%	16.41%	-10.06%	-1.06%	8.07%	1.82%	-1.5%	-5.91%
Announcement Date	3/8/21	1/11/21	22/2/22	3/5/22	4/8/22	1/11/22	21/2/23	3/5/23	2/8/23	30/10/23	20/2/24	30/4/24	30/7/24	30/10/24	24/2/25	30/4/25	30/7/25	29/10/25	12/2/26	27/4/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Public Storage

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	6,741	6,096	8,733	8,906	9,936	10,171	10,820	10,869
Change	-	-9.57%	43.26%	1.98%	11.57%	2.37%	6.38%	0.45%
Announcement Date	22/2/22	21/2/23	20/2/24	24/2/25	12/2/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Public Storage

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	5,599	773.3	1,074	834	1,475	473.1	492.4	536.5
Change	-	-86.19%	38.91%	-22.36%	76.84%	-67.92%	4.07%	8.95%
Free Cash Flow (FCF) ¹	-	2,344	1,828	-	-	-	-	-
Change	-	-	-21.99%	-	-	-	-	-
Announcement Date	22/2/22	21/2/23	20/2/24	24/2/25	12/2/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Public Storage

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	74.73%	72.08%	72.22%	70.61%	70.23%	70.59%	70.16%	70.53%
EBIT Margin (%)	52.46%	50.84%	50.75%	46.55%	46.35%	45.15%	44.14%	46.31%
EBT Margin (%)	61.17%	104.4%	48.05%	44.49%	37.1%	45.25%	44.99%	-
Net margin (%)	54.08%	99.05%	43.14%	39.88%	32.87%	36.87%	35.71%	36.61%
FCF margin (%)	-	56.04%	40.47%	-	-	-	-	-
FCF / Net Income (%)	-	56.58%	93.82%	-	-	-	-	-
Profitability
ROA	11.87%	23.72%	10.43%	9.47%	7.94%	8.4%	8.05%	8.71%
ROE	19.36%	42.69%	19.4%	18.99%	18.82%	34.67%	27.61%	31.54%
Financial Health
Leverage (Debt/EBITDA)	2.82x	2.02x	2.68x	2.69x	2.93x	2.87x	2.87x	2.83x
Debt / Free cash flow	-	2.6x	4.78x	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	174.78%	18.49%	23.78%	17.76%	30.57%	9.44%	9.16%	9.87%
CAPEX / EBITDA (%)	233.89%	25.65%	32.92%	25.15%	43.53%	13.37%	13.06%	13.99%
CAPEX / FCF (%)	-	32.99%	58.75%	-	-	-	-	-
Items per share
Cash flow per share ¹	-	17.68	18.43	17.77	18.11	17.1	17.45	18.11
Change	-	-	4.24%	-3.59%	1.94%	-5.6%	2.05%	3.8%
Dividend per Share ¹	8	21.15	12	12	12	12.02	12.27	12.6
Change	-	164.37%	-43.26%	0%	0%	0.18%	2.1%	2.63%
Book Value Per Share ¹	53.17	57.48	57	55.37	52.7	26.27	24.4	23.01
Change	-	8.1%	-0.83%	-2.86%	-4.83%	-50.16%	-7.1%	-5.7%
EPS ¹	9.87	23.5	11.06	10.64	9.01	10.47	10.24	11.04
Change	-	138.1%	-52.94%	-3.8%	-15.32%	16.18%	-2.14%	7.73%
Nbr of stocks (in thousands)	175,355	175,638	175,836	175,183	175,463	175,580	175,580	175,580
Announcement Date	22/2/22	21/2/23	20/2/24	24/2/25	12/2/26	-	-	-