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 53,808 - -
Change - -25.07% 8.98% -2.19% -13.2% 18.17% - -
Enterprise Value (EV) 1 72,421 55,308 62,363 61,362 55,468 66,604 66,975 67,269
Change - -23.63% 12.76% -1.61% -9.61% 20.08% 0.56% 0.44%
P/E 37.9x 11.9x 27.6x 28.1x 28.8x 28.6x 28.4x 26.3x
PBR 7.04x 4.87x 5.35x 5.41x 4.92x 4.18x 4.52x 4.66x
PEG - 0x -0.5x -7.4x -1.9x 2.4x 67.31x 3.3x
Capitalization / Revenue 20.5x 11.8x 11.9x 11.2x 9.44x 10.6x 9.87x 9.61x
EV / Revenue 22.6x 13.2x 13.8x 13.1x 11.5x 13.1x 12.3x 12x
EV / EBITDA 30.3x 18.3x 19.1x 18.5x 16.4x 18.4x 16.9x 16.5x
EV / EBIT 43.1x 26x 27.2x 28.1x 24.8x 28.5x 26.6x 25.5x
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% 4.18% 4.27% 4.4%
EPS 2 9.87 23.5 11.06 10.64 9.01 10.08 10.12 10.93
Distribution rate 81.1% 90% 108% 113% 133% 119% 122% 116%
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 3,629 3,968 4,078
EBIT 1 1,681 2,126 2,293 2,186 2,236 2,336 2,517 2,641
Net income 1 1,732 4,142 1,949 1,873 1,586 1,870 1,994 2,104
Net Debt 1 6,741 6,096 8,733 8,906 9,936 12,796 13,167 13,461
Reference price 2 374.56 280.19 305.00 299.44 259.50 287.97 287.97 287.97
Nbr of stocks (in thousands) 1,75,355 1,75,638 1,75,836 1,75,183 1,75,463 1,86,852 - -
Announcement Date 22/02/22 21/02/23 20/02/24 24/02/25 12/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.57x13.11x18.35x4.18% 5.38TCr
28.49x13.89x16.89x4.89% 2.82TCr
24.47x10.57x16.93x5.63% 851.56Cr
-45.92x2.97x12.63x5.91% 823.17Cr
13.26x8.77x15.47x5.02% 268.11Cr
12.27x9.81x15.78x5.79% 212.81Cr
50.44x8.95x16.76x5.05% 175.69Cr
9.92x8.75x15.91x5.95% 150.97Cr
12.47x11.68x21.89x4.13% 99Cr
Average 14.88x 9.83x 16.74x 5.17% 1.2TCr
Weighted average by Cap. 21.78x 12.02x 17.27x 4.7%

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