Start with its own history
At 35.89×, PSA is 26.4% above its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · PSAREIT - IndustrialUpdated Nov 5, 2026
Public Storage P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
35.89×
26.4% abovethe 10-year annual average
Share price342.76
÷Earnings per share9.55
Price and EPS in quote currency. Calculation details
Investors are paying 35.89 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 28.39×
3-year average28.07×3 positive annual observations
5-year average26.77×5 positive annual observations
10-year average28.39×10 positive annual observations
Peer median · TTM32.73×5 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 28.71× | +2.4% |
| Dec 31, 2024 | 28.04× | +2.1% |
| Dec 31, 2023 | 27.45× | +131.6% |
| Dec 31, 2022 | 11.85× | -68.6% |
| Dec 31, 2021 | 37.80× | +2.9% |
| Dec 31, 2020 | 36.71× | +25.9% |
| Dec 31, 2019 | 29.17× | +41.8% |
| Dec 31, 2018 | 20.57× | -33.6% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 30.96× | -5.2% |
| Dec 31, 2016 | 32.68× | -19.5% |
| Dec 31, 2015 | 40.61× | +15.8% |
| Dec 31, 2014 | 35.08× | +14.7% |
| Dec 31, 2013 | 30.59× | -17.1% |
| Dec 31, 2012 | 36.89× | -9.2% |
| Dec 31, 2011 | 40.62× | -5.5% |
| Dec 31, 2010 | 42.97× | +83.6% |
| Dec 31, 2009 | 23.41× | +23.4% |
| Dec 31, 2008 | 18.97× | -69.5% |
| Dec 31, 2007 | 62.21× | -78.9% |
| Dec 31, 2006 | 295.45× | +763.9% |
| Dec 31, 2005 | 34.20× | -14.7% |
| Dec 31, 2004 | 40.11× | +19.2% |
| Dec 31, 2003 | 33.64× | +19.7% |
| Dec 31, 2002 | 28.10× | +18.6% |
| Dec 31, 2001 | 23.69× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How PSA compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 PSA This stockPublic Storage | 35.89× |
 EXRExtra Space Storage Inc. | 32.73× |
 SMASmartstop Self Storage REIT Inc | 65.71× |
 SELFGlobal Self Storage, Inc. | 26.62× |
 CUBECubeSmart | 30.19× |
 UHALU-Haul Holding Company | 148.29× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does PSA’s P/E tell you?
Compare like with like
The median of the 5 positive peer ratios above is 32.73×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take PSA into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("PSA", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 342.76 ÷ EPS 9.55 = 35.89×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
PSA P/E ratio: common questions
The essentials behind the numbers.
Public Storage's current P/E is 35.89× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.