Public Storage
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.78B | $2.07B | $2.15B | $4.35B | $1.95B | $1.36B | $1.52B | $1.71B |
| Depreciation & Amortization | $1.15B | $1.13B | $970.1M | $888.1M | $713.4M | $553.3M | $512.9M | $483.6M |
| Depreciation | $1.05B | $1.00B | $881.3M | $781.9M | $626.0M | $528.7M | $483.4M | $457.0M |
| Amortization | $94.0M | $117.6M | $82.7M | $95.2M | $76.6M | $16.1M | $16.8M | $16.6M |
| Stock-Based Compensation | $39.9M | $44.7M | $41.6M | $56.7M | $59.8M | $33.4M | $25.8M | $69.9M |
| Net Cash from Operating Activities | $3.19B | $3.13B | $3.25B | $3.12B | $2.54B | $2.04B | $2.07B | $2.06B |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | $0 | $0 | $2.18B | $0 | $0 | — | — | — |
| Net Cash from Investing Activities | $-1.69B | $-1.00B | $-3.54B | $1.12B | $-5.56B | $-1.12B | $-897.4M | $-515.9M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $0 | $200.0M | $0 | $0 | — | — | — | — |
| Net Cash from Financing Activities | $-1.63B | $-2.08B | $-112.9M | $-4.19B | $3.50B | $-1.08B | $-1.12B | $-1.62B |
| Net Change in Cash | $-129.3M | $47.0M | $-404.8M | $43.9M | $478.7M | $-151.0M | $49.5M | $-72.0M |
| Free Cash Flow | — | — | — | — | — | — | — | — |