Public StorageLTS:0KS3 -1.88%88 Operating Margin % is 45.72% as of Mar. 2026, which is 11% below its 10-year median of 51.29. GuruFocus rates LTS:0KS3 with a GF Score™ of 88/100 and a GF Value™ of $306.25 (Fairly Valued). The stock has 5 warning signs investors should review. Among 750 REITs companies, Public Storage ranks worse than 60.27% on this metric.
Public Storage (LTS:0KS3) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Public Storage Operating Margin % Related Terms
Public Storage Operating Margin % Historical Data
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The historical data trend for Public Storage's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
LTS:0KS3 vs EXR, EGP, LINE: Operating Margin % Comparison
For the REIT - Industrial subindustry, Public Storage's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Public Storage Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Public Storage's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Public Storage's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Public Storage's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Public Storage (LTS:0KS3) has a Operating Margin % of 45.72% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Public Storage and its competitors. This is 11% below median its historical median of 51.29. Over the past decade, Public Storage's Operating Margin % has ranged from 46.78 to 53.68. According to the industry distribution chart, Public Storage ranks #452 out of 750 companies in the REITs industry, placing it in the top 60.3%.
Is Public Storage's Operating Margin % too high?
Public Storage's current Operating Margin % of 45.72% is 11% below median its 10-year median of 51.29. Over the past 10 years, this metric has ranged from a low of 46.78 to a high of 53.68. The REITs industry median Operating Margin % is 52.67. Public Storage's value of 45.72% is 13.2% below this industry median. Based on the distribution chart, Public Storage ranks #452 out of 750 companies in the REITs industry, which is below the industry midpoint. Overall, Public Storage has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Public Storage's Operating Margin % compare to EXR and EGP?
According to the REITs industry distribution chart, Public Storage ranks #452 out of 750 companies for Operating Margin %. This places Public Storage in the lower half of its industry. The industry median Operating Margin % is 52.67. Public Storage's value of 45.72% is 13.2% below this benchmark. Historically, Public Storage's own Operating Margin % has ranged from 46.78 to 53.68 over the past decade. While the company's 10-year median is 51.29 vs. the industry median of 52.67, Public Storage has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a REITs company?
The median Operating Margin % among REITs companies is 52.67, based on 750 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Public Storage's current Operating Margin % of 45.72% is 13.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Public Storage and its competitors. For the REITs industry, the median Operating Margin % is 52.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Public Storage's current Operating Margin % is 45.72%, which is 11% below median its own 10-year median of 51.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Public Storage stock overvalued right now?
Based on GuruFocus' analysis, Public Storage (LTS:0KS3) is currently considered Fairly Valued. The stock's GF Value™ is $306.25, compared to a current price of $316.92 — trading 3.5% above its estimated fair value. The current Operating Margin % is 45.72%, which is 11% below median its 10-year median of 51.29 and 13.2% below the REITs industry median of 52.67. Public Storage's overall GF Score™ is 88/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Public Storage (LTS:0KS3), the current Operating Margin % is 45.72% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Public Storage (LTS:0KS3) Overvalued in 2026?
Based on GuruFocus' analysis, Public Storage stock appears to be overvalued.
The current stock price of $316.92 is trading 3.5% above its estimated GF Value™ of $306.25.
GuruFocus considers Public Storage to be Fairly Valued.
Key valuation signals for LTS:0KS3:
Operating Margin %: 45.72% (11% below median its 10-year median of 51.29)
GF Value™: $306.25 vs. price of $316.92 (3.5% above fair value)
Industry Position: 13.2% below the REITs median (#452 of 750)
No single metric tells the full story. See the LTS:0KS3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Public Storage is the largest owner of self-storage facilities in the US, with more than 3,500 self-storage facilities in 40 states and approximately 258 million square feet of rentable space. Through equity interests, it also has exposure to the European self-storage market through Shurgard Self Storage. The company also has a merchandise business, a third-party property management business, and an insurance business that offers products to cover losses for the goods in self-storage facilities.
88GF Score
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