PSA EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
PSA's ev/ebitda is higher than 65% of the last 10 years.
EV/EBITDA History
PSA EV/EBITDA by year
Yearly range of PSA’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 9.7 to 29.1, averaging 18.8.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 17.1 | 19.1 | 20.8 | 19.1 |
| 2025 | 16.4 | 17.9 | 19.3 | 17.1 |
| 2024 | 15.8 | 18.4 | 21.8 | 17.6 |
| 2023 | 9.9 | 12.3 | 19.5 | 19.3 |
| 2022 | 9.7 | 19.5 | 27.7 | 9.9 |
| 2021 | 20.1 | 25.2 | 29.1 | 26.3 |
| 2020 | 14.2 | 18.6 | 21.8 | 21.6 |
| 2019 | 15.7 | 18.3 | 21.3 | 18.6 |
| 2018 | 16.3 | 18.7 | 21.2 | 16.3 |
| 2017 | 17.7 | 19.5 | 21.1 | 19.3 |
| 2016 | 19.3 | 20.3 | 21.3 | 21.3 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is PSA EV/EBITDA High or Low Right Now?
Public Storage's EV/EBITDA is currently 19.1, which is above average relative to its 10-year historical range. The 10-year median EV/EBITDA for PSA is approximately 18.8. See all PSA valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.