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 55,366 - -
Change - -25.07% 8.98% -2.19% -13.2% 21.6% - -
Enterprise Value (EV) 1 72,421 55,308 62,363 61,362 55,468 68,149 68,508 68,802
Change - -23.63% 12.76% -1.61% -9.61% 22.86% 0.53% 0.43%
P/E 37.9x 11.9x 27.6x 28.1x 28.8x 29.3x 29.1x 26.9x
PBR 7.04x 4.87x 5.35x 5.41x 4.92x 5.31x 5.98x 6.57x
PEG - 0x -0.5x -7.4x -1.9x 2.4x 30.89x 3.37x
Capitalization / Revenue 20.5x 11.8x 11.9x 11.2x 9.44x 10.9x 10.2x 9.88x
EV / Revenue 22.6x 13.2x 13.8x 13.1x 11.5x 13.4x 12.6x 12.3x
EV / EBITDA 30.3x 18.3x 19.1x 18.5x 16.4x 18.7x 17.1x 16.7x
EV / EBIT 43.1x 26x 27.2x 28.1x 24.8x 28.7x 26.3x 25.1x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 8 21.15 12 12 12 12.02 12.31 12.66
Rate of return 2.14% 7.55% 3.93% 4.01% 4.62% 4.06% 4.15% 4.27%
EPS 2 9.87 23.5 11.06 10.64 9.01 10.1 10.19 11.01
Distribution rate 81.1% 90% 108% 113% 133% 119% 121% 115%
Net sales 1 3,204 4,182 4,518 4,696 4,824 5,081 5,451 5,601
EBITDA 1 2,394 3,015 3,263 3,315 3,388 3,642 3,998 4,122
EBIT 1 1,681 2,126 2,293 2,186 2,236 2,371 2,602 2,744
Net income 1 1,732 4,142 1,949 1,873 1,586 1,873 2,004 2,107
Net Debt 1 6,741 6,096 8,733 8,906 9,936 12,783 13,142 13,436
Reference price 2 374.56 280.19 305.00 299.44 259.50 296.31 296.31 296.31
Nbr of stocks (in thousands) 175,355 175,638 175,836 175,183 175,463 186,852 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.35x13.41x18.71x4.06% 55.37B
29.19x14.1x17.05x4.77% 28.88B
25.69x10.95x17.54x5.39% 8.91B
-46.76x2.99x12.74x5.8% 8.38B
13.46x8.85x15.6x4.95% 2.74B
12.33x9.85x15.84x5.76% 2.16B
51.7x9.12x17.08x4.91% 1.8B
10.08x8.82x16.04x5.86% 1.55B
12.29x11.63x21.84x4.19% 985M
Average 15.26x 9.97x 16.94x 5.08% 12.31B
Weighted average by Cap. 22.47x 12.27x 17.56x 4.58%

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

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