Public Storage vs Smartstop Self Storage Reit
Public Storage is the larger business, with $4.82bn of revenue in fiscal 2025 against $281m for Smartstop Self Storage Reit (17.2 times as much). Smartstop Self Storage Reit grew faster (18.6% against 2.7%). Public Storage kept more of each dollar of sales as profit: a net margin of 37.0% against -3.1%. Smartstop Self Storage Reit carries less debt relative to equity (93.6% against 111.5%).
| Latest fiscal year | Public StoragePSA, 2025 | Smartstop Self Storage ReitSMA, 2025 |
|---|---|---|
| Revenue | $4.82bn | $281m |
| Revenue growth | 2.7% | 18.6% |
| Net income | $1.78bn | −$8.8m |
| Operating margin | — | 21.0% |
| Net margin | 37.0% | -3.1% |
| Return on equity | 18.8% | -1.2% |
| Free cash flow | $3.19bn | $85.0m |
| Cash | $318m | $54.2m |
| Total debt | $10.31bn | $1.10bn |
| Debt to equity | 111.5% | 93.6% |
| Dividend per share | — | — |
| Dividend yield | — | 4.3% |
| Share buybacks | $0 | — |
| Employees | — | 1,000 |
| Market value | $61.57bn | $2.03bn |
| Price vs our value range | — | — |
| Moat score | 95 (Strong) | 16 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 2 buys, 10 sales |