Start with its own history
At 11.86×, PSB is 35.9% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · PSBREIT - DiversifiedUpdated Oct 25, 2026
PS Business Parks, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
11.86×
35.9% belowthe 10-year annual average
Share price187.44
÷Earnings per share15.81
Price and EPS in quote currency. Calculation details
Investors are paying 11.86 for every 1 of reported earnings per share.
P/E over time
2012 – 2021
Annual P/ESelected-period average 18.51×
3-year average18.77×3 positive annual observations
5-year average18.82×5 positive annual observations
10-year average18.51×10 positive annual observations
Peer median · TTM14.77×5 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2021 | 9.28× | -56.0% |
| Dec 31, 2020 | 21.09× | -18.6% |
| Dec 31, 2019 | 25.92× | +63.7% |
| Dec 31, 2018 | 15.84× | -27.8% |
| Dec 31, 2017 | 21.95× | -10.9% |
| Dec 31, 2016 | 24.63× | +36.4% |
| Dec 31, 2015 | 18.06× | +46.9% |
| Dec 31, 2014 | 12.29× | -32.9% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2013 | 18.33× | +3.8% |
| Dec 31, 2012 | 17.66× | +22.3% |
| Dec 31, 2011 | 14.43× | -9.8% |
| Dec 31, 2010 | 16.01× | +12.3% |
| Dec 31, 2009 | 14.26× | +9.5% |
| Dec 31, 2008 | 13.02× | -20.2% |
| Dec 31, 2007 | 16.32× | -30.1% |
| Dec 31, 2006 | 23.34× | +63.6% |
| Dec 31, 2005 | 14.26× | -9.9% |
| Dec 31, 2004 | 15.82× | -12.2% |
| Dec 31, 2003 | 18.02× | +25.8% |
| Dec 31, 2002 | 14.32× | -16.2% |
| Dec 31, 2001 | 17.09× | -1.3% |
| Dec 31, 2000 | 17.32× | -20.5% |
| Dec 31, 1999 | 21.77× | -13.1% |
| Dec 31, 1998 | 25.07× | +25.7% |
| Dec 31, 1997 | 19.95× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How PSB compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 PSB This stockPS Business Parks, Inc. | 11.86× |
 RITMRithm Capital Corp. | 14.77× |
 SRCSpirit Realty Capital, Inc. | 20.97× |
 AIRCApartment Income REIT Corp. | 9.11× |
 EFCEllington Financial Inc. | 7.04× |
 HHCThe Howard Hughes Corporation | 31.50× |
 AFINAmerican Finance Trust, Inc. | N/M |
 RTLThe Necessity Retail REIT, Inc. | N/M |
 GNLGlobal Net Lease, Inc. | N/M |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does PSB’s P/E tell you?
Compare like with like
The median of the 5 positive peer ratios above is 14.77×. 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 PSB 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("PSB", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 187.44 ÷ EPS 15.81 = 11.86×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Oct 25, 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.
PSB P/E ratio: common questions
The essentials behind the numbers.
PS Business Parks, Inc.'s current P/E is 11.86× based on the quote data last updated Oct 25, 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.