Aureus
AExcellent

Public Storage(PSA)

A

Financial data as of Dec 31, 2025Stable · Real Estate

FCF Margin59.2%Free Cash Flow / Revenue
Cash Conversion178.6%Operating CF / Net Income
Free Cash Flow$2.9B
Revenue$4.8B
Net Cash-$9.9BNet debt position
Debt / FCF3.6xElevated debt burden
Current Ratio0.75Tight short-term liquidity
YoY FCF Growth-3.7%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (59.2%, 3.6x; 2.1x sector-adjusted)
→
-0.5Current ratio below 1.0 (0.75) (reduced — strong FCF covers short-term obligations)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (59.2%)
  • Excellent cash conversion (179%)
  • Highly consistent quarterly FCF

Concerns

  • Net debt position ($9.9B) — 3.6x FCF, manageable
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin59.2%
Net Margin37.0%
Operating CF Margin66.1%
CapEx Ratio6.0%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$9.9BNet debt position
Debt / FCF3.6xElevated debt burden
Current Ratio0.75Tight liquidity
Debt / Equity2.09High leverage

Quarterly FCF Trend

-3.7% YoYStable (-3.7%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

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Detailed Metrics

Company NamePublic Storage
SectorReal Estate
Free Cash Flow$2.9B
Revenue$4.8B
Net Income$1.8B
Operating Cash Flow$3.2B
Capital Expenditure$289.4M
FCF Margin59.2%
Cash Conversion Rate178.6%
Net Margin37.0%
Total Debt$10.3B
Total Cash$318.1M
Net Cash-$9.9B
Current Ratio0.75
Debt / Equity2.09
Debt / FCF3.6x
YoY FCF Growth-3.7%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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