Public Storage
$63.10B- Market cap
- $53.16B
- Debt
- +$10.25B
- Cash
- −$318.10M
Capital structure 84% equity / 16% debt · EV / Revenue 13.08x · EV / EBITDA 18.00x
Quick read
Fair value engine
Each company valued on the other's multiple, then compared with the market price.
PSA · price snapshotP/E 33.60x
$302.71Snapshot Sep 8, 2026, 2:06 PM ET
Implied fair value · at EXR's multiple
$274.549.3% below market
9.01 PSA Annual EPS×30.47x EXR P/E=$274.54
Market $302.71Implied $274.54
EXR · price snapshotP/E 30.47x
$139.86Snapshot Sep 8, 2026, 2:07 PM ET
Implied fair value · at PSA's multiple
$154.2110.3% above market
4.59 EXR Annual EPS×33.60x PSA P/E=$154.21
Market $139.86Implied $154.21
Metric by metric
Smart diff
Where each company leads, and how wide the gap is.
6 metrics shown
MetricPSAEXRDifference (PSA − EXR)
Revenue growth (YoY)
Growth lag
2.7%
3.7%
EXR: higher Revenue growth (YoY) by 1.0 percentage points
Gross margin
Pricing power
N/M
72.8%
Insufficient data
EBITDA margin
Operating leverage
72.7%
48.1%
PSA: higher EBITDA margin by 24.5 percentage points
EV/Revenue
Multiple premium
13.08x
13.08x
EXR: lower EV/Revenue by 0.0x
P/E
Expensive
33.60x
30.47x
EXR: lower P/E by 3.1x
Net debt / EBITDA
Lower leverage
2.8
9.0
PSA: lower Net debt / EBITDA by 6.2
Statements
Side-by-side financials
Core statements aligned to each company's latest fiscal year.
Income statement · USDPSA · FY 2025EXR · FY 2025Delta
Revenue$4.82B$3.38B+$1.45B
Gross profit—$2.46B—
Operating income—$1.41B—
EBITDA$3.51B$1.63B+$1.88B
Net income$1.78B$974.00M+$810.35M
EPS9.04.6+4.4
Revenue growth2.7%3.7%−1.0 pp
Gross margin—72.8%—
Operating margin—41.8%—
EBITDA margin72.7%48.1%+24.5 pp
Net margin37.0%28.8%+8.2 pp
SEC periods: PSA FY 2025 (ended Dec 31, 2025) · EXR FY 2025 (ended Dec 31, 2025).
Trendline
Historical trends
11 fiscal years of revenue, earnings, and margins before underwriting a re-rating.
PSAEXR
Price framework
Enterprise value
Market cap plus debt, less cash.
Extra Space Storage Inc.
Price framework
Intrinsic value (DCF)
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Public Storage · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
EXTRA SPACE STORAGE INC. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Balance sheet health
Solvency
Financial health checks to separate durable balance sheets from potential value traps.
Piotroski F-Score
Financial strength on a 0–9 scale.
5/ 9 · PSAModerate
6/ 9 · EXRModerate
Altman Z-Score
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Comparable set
Relative positioning
Where the pair sits against the wider comparable set.
Keep comparing
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