Public Storage (PSA) FY2021 results: revenue $3.4 billion, up 17.2% on the year
Public Storage (PSA) reported revenue of $3.4 billion for fiscal 2021, the year ended 31 December 2021, up 17.2% on the year before. Net income was $2.0 billion, up 43.9%, and diluted earnings per share $9.87. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$3.4 billion
+17.2% on the year
FY2014FY2021
Operating margin
46.9%
46.5% a year earlier
FY2014FY2021
Net income
$2.0 billion
+43.9% on the year
FY2014FY2021
Diluted EPS
$9.87
+56.9% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,544
2,043
2,068
+24.5%
Capital expenditure
282
n/a
187
Free cash flow
2,262
n/a
1,880
Free cash flow margin
66.2%
n/a
65.9%
Cash from investing
-5,564
-1,118
-897
Cash from financing
3,498
-1,076
-1,121
Depreciation and amortisation
713
553
513
+29.0%
Share-based compensation
59.8
33.4
25.8
+79.3%
Dividend per share
$8.00
$8.00
$8.00
0.0%
Diluted shares, weighted
176m
175m
175m
+0.5%
Shares outstanding at period end
175m
175m
174m
+0.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
9,335
8,559
9,063
+9.1%
Non-controlling interest
20.1
18.0
16.8
+11.5%
Redeemable equity
68.2
0.0
0.0
Debt
7,475
2,545
1,902
+193.7%
Other liabilities
482
695
383
-30.6%
Total liabilities and equity
17,381
11,817
11,365
+47.1%
Goodwill
166
166
175
0.0%
Intangible assets
118
20.0
12.5
+491.5%
Cash and equivalents
735
258
410
+185.2%
Other assets
16,362
11,373
10,769
+43.9%
Total assets
17,381
11,817
11,365
+47.1%
10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.