Analysis for PSA
- 📈 Growth — 16/30
- 💰 Profitability — 18/20
- 🏦 Financial Health — 14/20
- 💵 Valuation — 12/20
- ⚠️ Risk — 6/10
Summary:
📈 Growth & Financial Trajectory
From 2024 Q1 to 2026 Q1, Revenues rose from about $1.157B to about $1.218B, up roughly 5%. Net income progressed from about $512M to about $529M, with a peak of around $618M in 2025 Q1 and a trough near $361M in 2025 Q2, signaling modest growth with seasonality. The seven-quarter window shows a steady top line and resilient earnings.
💰 Margins & Cash Flow
Operating margin ranged in the low-40s percent in several quarters, with 2026 Q1 around 39% and 2025 Q4 near 43%, implying steady operating leverage. Net Cash Flow From Operating Activities stayed positive, e.g., 2025 Q2: $872.7M, 2026 Q1: $694.8M, 2024 Q4: $768.6M. Investing and financing cash flows fluctuated, but operating cash flow remained the main driver of liquidity.
🛡️ Balance Sheet & Liquidity
Total assets hovered around $19.6B–$20.5B; long-term debt around $9.0B–$9.7B; equity around $9.3B–$9.9B. While equity is strong, liabilities are substantial and leverage remains moderate. Current assets generally covered current liabilities, supporting liquidity.
⚠️ Key Drivers & Risks
- Drivers: Stable self-storage demand and occupancy, with potential rent escalations; favorable financing conditions.
- Risks: Interest-rate sensitivity and real estate cyclicality; occupancy risk and regulatory shifts.