• Public Storage average operating margin for 2023 was 51.86%, a 3.27% decline from 2022.
• Public Storage average operating margin for 2022 was 50.22%, a 1.7% increase from 2021.
• Public Storage average operating margin for 2021 was 49.38%, a 0.02% increase from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.