Public Storage — Earnings Quality Grade F
PSA · Real Estate
Major red flags
Screening Summary
管理层信号
数据来源：SEC EDGAR 8-K Item 5.02，附 Exhibit 99.1 链接
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
Insufficient data
Insufficient data
Revenue 2.7%, CFFO 1.9%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -31.1% vs revenue 2.7%. Normal
SG&A/Gross Profit = 2.9%, excellent (<30%)
Gross margin 72.8%, change -0.4pp. Stable
Cash Flow Quality
CFFO/NI = 1.79. Profits backed by cash
FCF $2.9B, FCF/NI = 1.62
Accruals ratio = -6.9%. Low accruals
Cash $0.3B covers only 3% of debt $10.3B
Balance Sheet Health
Goodwill+Intangibles $0.3B = 3% of equity. Manageable
Debt/EBITDA = 3.2x. Healthy
Other assets 11.5% vs revenue 2.7%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -11% YoY. Normal
Manipulation Score
Insufficient data
Altman Z-Score — Not Applicable
Public Storage is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25