Company Valuation: Public Storage

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 65,681 49,212 53,630 52,457 45,533 56,581 - -
Change - -25.07% 8.98% -2.19% -13.2% 24.26% - -
Enterprise Value (EV) 1 72,421 55,308 62,363 61,362 55,468 69,864 70,331 70,496
Change - -23.63% 12.76% -1.61% -9.61% 25.95% 0.67% 0.23%
P/E 37.9x 11.9x 27.6x 28.1x 28.8x 30.2x 30.1x 27.7x
PBR 7.04x 4.87x 5.35x 5.41x 4.92x 5.42x 4.92x 6.69x
PEG - 0x -0.5x -7.4x -1.9x 2.7x 81.13x 3.22x
Capitalization / Revenue 20.5x 11.8x 11.9x 11.2x 9.44x 11.1x 10.3x 9.91x
EV / Revenue 22.6x 13.2x 13.8x 13.1x 11.5x 13.7x 12.8x 12.4x
EV / EBITDA 30.3x 18.3x 19.1x 18.5x 16.4x 19.2x 17.7x 16.9x
EV / EBIT 43.1x 26x 27.2x 28.1x 24.8x 29.2x 27.6x 25.2x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 8 21.15 12 12 12 12.02 12.32 12.74
Rate of return 2.14% 7.55% 3.93% 4.01% 4.62% 3.97% 4.07% 4.21%
EPS 2 9.87 23.5 11.06 10.64 9.01 10.02 10.06 10.92
Distribution rate 81.1% 90% 108% 113% 133% 120% 123% 117%
Net sales 1 3,204 4,182 4,518 4,696 4,824 5,107 5,512 5,707
EBITDA 1 2,394 3,015 3,263 3,315 3,388 3,631 3,971 4,160
EBIT 1 1,681 2,126 2,293 2,186 2,236 2,390 2,546 2,799
Net income 1 1,732 4,142 1,949 1,873 1,586 1,856 2,004 2,124
Net Debt 1 6,741 6,096 8,733 8,906 9,936 13,283 13,750 13,915
Reference price 2 374.56 280.19 305.00 299.44 259.50 302.86 302.86 302.86
Nbr of stocks (in thousands) 175,355 175,638 175,836 175,183 175,463 186,821 - -
Announcement Date 2/22/22 2/21/23 2/20/24 2/24/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30.33x13.72x19.22x3.97% 56.58B
30.33x14.37x17.38x4.65% 29.6B
25.83x10.97x17.51x5.36% 8.95B
-56.13x3.06x12.97x5.51% 8.83B
13.34x8.66x15.3x5.09% 2.69B
12.63x10.03x16.13x5.62% 2.24B
54.47x9.27x17.4x4.94% 1.8B
10.9x9.2x16.71x5.41% 1.71B
13.23x12.05x22.63x4.04% 1.07B
Average 14.99x 10.15x 17.25x 4.95% 12.61B
Weighted average by Cap. 22.42x 12.49x 17.93x 4.47%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield