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PLD logoPrologis, Inc.(PLD)Earnings, Financials & Key Ratios

PLD•NYSE•REIT / Real Estate
$140.27
$130.26B mkt cap·35.0× P/E·Price updated May 6, 2026
SectorReal EstateIndustryIndustrial REITsSub-IndustryIndustrial Logistics Warehouse REITs
AboutPrologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.Show more
  • Revenue$8.2B+2.2%
  • FFO$6.31B+13.9%
  • FFO/Share6.62+13.6%
  • FFO Payout56.57%-2.9%
  • FFO per Share6.62+13.6%
  • NOI Margin74.92%
  • FFO Margin76.96%+11.4%
  • ROE6.41%+21.2%
  • ROA3.96%+17.2%
  • Debt/Assets33.04%+3.8%
  • Net Debt/EBITDA4.31-8.1%
  • Book Value/Share61.47+1.2%
Analysis→Technical→

PLD Key Insights

Prologis, Inc. (PLD) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 18.9%
  • ✓Sustainable FFO payout ratio of 56.6%
  • ✓11 consecutive years of dividend growth
  • ✓High NOI margin of 74.9%
  • ✓Healthy dividend yield of 2.7%
  • ✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

PLD Price & Volume

Prologis, Inc. (PLD) stock price & volume — 10-year historical chart

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PLD Growth Metrics

Prologis, Inc. (PLD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years16.63%
5 Years19.75%
3 Years19.89%
TTM10.75%

Profit CAGR

10 Years19.35%
5 Years18.86%
3 Years8.28%
TTM4.01%

EPS CAGR

10 Years12.45%
5 Years10.81%
3 Years1.45%
TTM3.95%

Return on Capital

10 Years4.47%
5 Years4.87%
3 Years4.68%
Last Year4.84%

PLD Recent Earnings

Prologis, Inc. (PLD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 16, 2026
EPS
$1.05
Est $0.81
+30.3%
Revenue
$2.1B
Est $2.1B
+0.2%
Q1 2026
Jan 21, 2026
EPS
$1.44
Est $0.77
+87.0%
Revenue
$2.1B
Est $2.1B
+0.1%
Q4 2025
Oct 15, 2025
EPS
$1.49
Est $1.44
+3.5%
Revenue
$2.2B
Est $2.1B
+6.1%
Q3 2025
Jul 16, 2025
EPS
$1.46
Est $1.41
+3.5%
Revenue
$2.2B
Est $2.0B
+7.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 16, 2026
$1.05vs $0.81+30.3%
$2.1Bvs $2.1B+0.2%
Q1 2026Jan 21, 2026
$1.44vs $0.77+87.0%
$2.1Bvs $2.1B+0.1%
Q4 2025Oct 15, 2025
$1.49vs $1.44+3.5%
$2.2Bvs $2.1B+6.1%
Q3 2025Jul 16, 2025
$1.46vs $1.41+3.5%
$2.2Bvs $2.0B+7.5%
Based on last 12 quarters of dataView full earnings history →

PLD Peer Comparison

Prologis, Inc. (PLD) competitors in Industrial Logistics Warehouse REITs — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
EGP logoEGPEastGroup Properties, Inc.Direct Competitor10.77B200.4041.1512.97%39.7%8.37%3.76%0.50
STAG logoSTAGSTAG Industrial, Inc.Direct Competitor7.28B38.0526.0610.14%28.26%6.8%5.52%0.90
FR logoFRFirst Industrial Realty Trust, Inc.Direct Competitor8.18B61.7333.018.58%45.99%12.35%1.4%0.93
REXR logoREXRRexford Industrial Realty, Inc.Direct Competitor8.44B35.5541.347.13%21.29%2.34%2.47%0.40
LXP logoLXPLXP Industrial TrustDirect Competitor3.05B51.7628.44-2.3%27.02%4.57%5.37%0.67
TRNO logoTRNOTerreno Realty CorporationDirect Competitor6.74B65.0016.5824.51%84.44%9.7%3.09%0.29
PSA logoPSAPublic StorageProduct Competitor52.46B298.8233.172.74%39.16%20.27%5.52%1.10
EXR logoEXRExtra Space Storage Inc.Product Competitor29.52B139.7930.461.19%28.84%6.69%6.2%1.05

Compare PLD vs Peers

Prologis, Inc. (PLD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EGP

Most directly comparable listed peer for PLD.

Scale Benchmark

vs AMZN

Larger-name benchmark to compare PLD against a more recognizable public peer.

Peer Set

Compare Top 5

vs EGP, STAG, FR, REXR

PLD Income Statement

Prologis, Inc. (PLD) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Revenue2.53B2.62B2.8B3.33B4.44B4.76B5.97B8.02B8.2B8.74B
Revenue Growth %15.3%3.36%7.12%18.76%33.27%7.23%25.51%34.31%2.22%10.75%
Property Operating Expenses697.38M724.66M757.69M918.93M1.17B1.25B1.51B2.01B2.06B2.82B
Net Operating Income (NOI)
1.84B▲ 0%
1.89B▲ 3.1%
2.05B▲ 8.1%
2.41B▲ 17.8%
3.27B▲ 35.5%
3.51B▲ 7.4%
4.46B▲ 27.2%
6.01B▲ 34.7%
6.14B▲ 2.2%
5.91B▲ 0%
NOI Margin %72.47%72.32%72.98%72.41%73.64%73.77%74.74%74.94%74.92%67.69%
Operating Expenses1.17B-60.56M358.76M561.93M1.15B303.96M997.06M2.31B1.73B1.81B
G&A Expenses222.07M231.06M238.99M266.72M274.85M293.17M331.08M390.41M418.76M443.68M
EBITDA1.6B2.83B2.64B2.99B3.68B4.78B5.28B6.19B7B6.72B
EBITDA Margin %63.14%108.21%93.97%89.76%82.93%100.54%88.39%77.18%85.31%76.89%
Depreciation & Amortization930.99M879.14M947.21M1.14B1.56B1.58B1.81B2.48B2.58B2.61B
D&A / Revenue %36.75%33.58%33.78%34.22%35.19%33.15%30.35%30.97%31.46%29.91%
Operating Income
668.38M▲ 0%
1.95B▲ 192.4%
1.69B▼ 13.6%
1.85B▲ 9.6%
2.12B▲ 14.6%
3.21B▲ 51.3%
3.47B▲ 8.1%
3.71B▲ 6.9%
4.42B▲ 19.1%
4.1B▲ 0%
Operating Margin %26.39%74.63%60.19%55.54%47.74%67.38%58.05%46.21%53.84%46.98%
Interest Expense287.69M260.01M215.9M226.66M313.46M266.23M309.04M618.72M837.3M4M
Interest Coverage2.32x7.52x7.82x8.16x6.76x12.05x11.22x5.99x5.27x-
Non-Operating Income-966.41M-121.54M-414.19M-153.26M71.95M-365.95M-515.17M-375.11M-536.25M-475.92M
Pretax Income
1.35B▲ 0%
1.82B▲ 34.8%
1.89B▲ 3.9%
1.78B▼ 5.8%
1.75B▼ 1.6%
3.32B▲ 90.2%
3.69B▲ 11.1%
3.46B▼ 6.1%
4.11B▲ 18.8%
3.63B▲ 0%
Pretax Margin %53.18%69.35%67.26%53.33%39.36%69.82%61.78%43.18%50.17%41.58%
Income Tax54.56M54.61M63.33M74.52M130.46M174.26M135.41M211.04M166.94M208.19M
Effective Tax Rate %4.05%3.01%3.36%4.19%7.47%5.24%3.67%6.09%4.06%5.73%
Net Income
1.21B▲ 0%
1.65B▲ 36.6%
1.65B▼ 0.2%
1.57B▼ 4.6%
1.48B▼ 5.8%
2.94B▲ 98.4%
3.36B▲ 14.5%
3.06B▼ 9.1%
3.73B▲ 22.0%
3.21B▲ 0%
Net Margin %47.76%63.11%58.81%47.23%33.38%61.77%56.33%38.13%45.5%36.7%
Net Income Growth %39.16%36.56%-0.18%-4.63%-5.79%98.39%14.46%-9.08%21.98%4.01%
Funds From Operations (FFO)
2.14B▲ 0%
2.53B▲ 18.2%
2.6B▲ 2.6%
2.71B▲ 4.5%
3.04B▲ 12.2%
4.52B▲ 48.4%
5.18B▲ 14.6%
5.54B▲ 7.1%
6.31B▲ 13.9%
5.82B▲ 0%
FFO Margin %84.52%96.69%92.59%81.45%68.57%94.92%86.67%69.1%76.96%66.62%
FFO Growth %22.35%18.24%2.57%4.48%12.2%48.42%14.61%7.08%13.85%21.56%
FFO per Share3.924.584.404.033.935.756.205.826.626.09
FFO Payout Ratio %41.73%37.25%43.26%49.6%56.61%41.46%48.18%58.23%56.57%63.83%
EPS (Diluted)
2.27▲ 0%
3.06▲ 34.8%
2.79▼ 8.8%
2.40▼ 14.0%
1.95▼ 18.8%
3.84▲ 96.9%
4.13▲ 7.6%
3.29▼ 20.3%
4.01▲ 21.9%
3.35▲ 0%
EPS Growth %38.41%34.8%-8.82%-13.98%-18.75%96.92%7.55%-20.34%21.88%3.95%
EPS (Basic)2.293.102.912.411.973.864.153.304.03-
Diluted Shares Outstanding546.67M552.3M590.24M673.45M775.15M785.71M834.84M951.79M953.59M956.6M

PLD Balance Sheet

Prologis, Inc. (PLD) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Assets30.25B29.48B38.42B40.03B56.07B58.49B87.9B93.02B95.33B98.34B
Asset Growth %-3.65%-2.54%30.31%4.2%40.05%4.32%50.29%5.83%2.48%12.37%
Real Estate & Other Assets24.11B22.53B30.79B30.72B44.93B46.76B74.47B79.78B81.14B86.25B
PP&E (Net)102.83M109.82M112.21M593.8M610.5M577.41M855.33M891.74M920.13M0
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets1.52B1.13B1.31B2.16B2.19B1.97B1.69B1.79B2.42B1.54B
Cash & Equivalents807.32M447.05M343.86M1.09B598.09M556.12M278.48M530.39M1.32B1.19B
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Other Current Assets322.14M342.06M622.29M720.68M1.07B669.69M531.26M461.66M248.51M358.85M
Intangible Assets267.91M202.09M450.69M314.18M726.82M552.52M1.18B1.01B764.55M0
Total Liabilities11.79B10.78B12.62B13.96B19.74B20.74B30.03B35.2B36.71B41.13B
Total Debt10.61B9.41B11.09B12.38B17.34B18.16B24.51B29.6B31.49B35.3B
Net Debt9.8B8.97B10.75B11.29B16.74B17.61B24.24B29.07B30.18B34.12B
Long-Term Debt10.57B9.1B11.04B11.72B16.68B17.22B22.34B28.02B30.65B35.08B
Short-Term Borrowings35.02M317.39M50.5M184.25M171.79M491.39M1.54B979.31M224.97M224.92M
Capital Lease Obligations000471.63M486.97M448.44M638.81M597.56M615.3M615.3M
Total Current Liabilities787.62M1.17B990.96M1.13B1.61B2.03B3.7B3.29B2.64B2.07B
Accounts Payable556.18M702.8M760.51M704.95M1.14B1.25B1.71B1.77B1.77B1.85B
Deferred Revenue111.86M87.15M96.17M118.12M167.97M186.37M329.78M377.06M475.29M0
Other Liabilities319.04M418.54M490.33M523.67M798.68M1.04B3.36B3.29B2.8B3.98B
Total Equity
18.46B▲ 0%
18.71B▲ 1.3%
25.8B▲ 37.9%
26.07B▲ 1.0%
36.32B▲ 39.3%
37.74B▲ 3.9%
57.86B▲ 53.3%
57.82B▼ 0.1%
58.62B▲ 1.4%
57.21B▲ 0%
Equity Growth %0.2%1.34%37.93%1.05%39.33%3.9%53.31%-0.07%1.37%0%
Shareholders Equity14.99B15.63B22.3B22.65B31.97B33.43B53.24B53.18B53.95B52.64B
Minority Interest3.47B3.07B3.5B3.42B4.35B4.32B4.63B4.64B4.67B4.58B
Common Stock5.29M5.32M6.3M6.32M7.39M7.4M9.23M9.24M9.26M9.29M
Additional Paid-in Capital19.46B19.36B25.69B25.72B35.49B35.56B54.07B54.25B54.46B54.66B
Retained Earnings-3.61B-2.9B-2.38B-2.15B-2.39B-1.33B-457.69M-627.07M-465.91M-1.36B
Preferred Stock78.23M68.95M68.95M68.95M63.95M63.95M63.95M63.95M63.95M63.95M
Return on Assets (ROA)3.93%5.53%4.86%4.01%3.08%5.13%4.6%3.38%3.96%3.26%
Return on Equity (ROE)6.56%8.89%7.41%6.06%4.75%7.94%7.04%5.29%6.41%5.61%
Debt / Assets35.07%31.93%28.87%30.92%30.92%31.06%27.89%31.82%33.04%35.9%
Debt / Equity0.57x0.50x0.43x0.47x0.48x0.48x0.42x0.51x0.54x0.54x
Net Debt / EBITDA6.13x3.16x4.08x3.78x4.55x3.68x4.59x4.69x4.31x4.31x
Book Value per Share33.7633.8743.7138.7146.8648.0469.3160.7561.4759.81

PLD Cash Flow Statement

Prologis, Inc. (PLD) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations1.42B1.69B1.8B2.26B2.94B3B4.13B5.37B4.91B4.91B
Operating CF Growth %47.08%19.07%6.89%25.53%29.72%2.01%37.73%30.21%-8.58%49.46%
Operating CF / Revenue %55.94%64.44%64.31%67.98%66.17%62.95%69.08%66.97%59.89%56.22%
Net Income1.29B1.76B1.82B1.7B1.62B3.15B3.56B3.06B3.95B3.21B
Depreciation & Amortization930.99M879.14M947.21M1.14B1.56B1.58B1.81B2.48B2.58B2.61B
Stock-Based Compensation60.34M76.64M76.09M97.56M109.83M113.03M175.36M267.65M231.75M209.1M
Other Non-Cash Items-796.34M-1.07B-961.44M-706.08M-333.32M-1.68B-1.4B-526.48M-1.74B-1.03B
Working Capital Changes-65M42.76M-82.72M18.61M-18.84M-165.88M-26.22M70.07M-126.53M-46M
Cash from Investing1.25B543.28M-663.8M-685.35M-3.07B-1.99B-4.5B-6.42B-3.1B-3.34B
Acquisitions (Net)510.6M-415.19M199.92M113.29M-1.82B-739.83M-365.37M64.09M71.44M0
Purchase of Investments101.68M-5.06M-11.7M-30.42M-9.03M-16.51M-3.46M-2.23M-3M-2.71B
Sale of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K3M
Other Investing661.67M1.07B34.26M-469.56M4.31M-738.03M-3.64B-6.52B-3.18B-280.22M
Cash from Financing-2.13B-2.61B-1.23B-839.6M-372.16M-1.01B115.79M1.32B-999.96M-1.44B
Dividends Paid-893.46M-942.88M-1.12B-1.35B-1.72B-1.87B-2.49B-3.23B-3.57B-3.72B
Common Dividends-893.46M-942.88M-1.12B-1.35B-1.72B-1.87B-2.49B-3.23B-3.57B-3.72B
Debt Issuance (Net)-1000K-1000K1000K1000K1000K1000K1000K1000K1000K2M
Share Repurchases0-13.18M00-34.83M0-27.69M-24.54M-30.53M-18.76M
Other Financing-373.16M-807.54M-174.66M-302.72M359.39M-497.06M-391.45M-342.41M-255.22M-245.05M
Net Change in Cash
543.24M▲ 0%
-360.27M▼ 166.3%
-103.19M▲ 71.4%
745M▲ 822.0%
-490.77M▼ 165.9%
-41.97M▲ 91.4%
-277.63M▼ 561.5%
251.91M▲ 190.7%
788.2M▲ 212.9%
405.15M▲ 0%
Exchange Rate Effect-342K1000K-1000K1000K1000K-1000K-1000K-1000K-1000K0
Cash at Beginning264.08M807.32M447.05M343.86M1.09B598.09M556.12M278.48M530.39M1.07B
Cash at End807.32M447.05M343.86M1.09B598.09M556.12M278.48M530.39M1.32B1.19B
Free Cash Flow
1.32B▲ 0%
1.58B▲ 19.9%
887.86M▼ 43.7%
1.94B▲ 118.7%
1.69B▼ 13.0%
2.5B▲ 47.9%
3.58B▲ 43.2%
5.37B▲ 50.3%
4.91B▼ 8.6%
5.19B▲ 0%
FCF Growth %49.46%19.86%-43.69%118.7%-13.03%47.87%43.2%50.26%-8.58%28.2%
FCF / Revenue %51.92%60.22%31.66%58.3%38.04%52.47%59.86%66.97%59.89%59.35%

PLD Key Ratios

Prologis, Inc. (PLD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
FFO per Share3.924.584.44.033.935.756.25.826.626.09
FFO Payout Ratio41.73%37.25%43.26%49.6%56.61%41.46%48.18%58.23%56.57%63.83%
NOI Margin72.47%72.32%72.98%72.41%73.64%73.77%74.74%74.94%74.92%67.69%
Net Debt / EBITDA6.13x3.16x4.08x3.78x4.55x3.68x4.59x4.69x4.31x4.31x
Debt / Assets35.07%31.93%28.87%30.92%30.92%31.06%27.89%31.82%33.04%35.9%
Interest Coverage2.32x7.52x7.82x8.16x6.76x12.05x11.22x5.99x5.27x-
Book Value / Share33.7633.8743.7138.7146.8648.0469.3160.7561.4759.81
Revenue Growth15.3%3.36%7.12%18.76%33.27%7.23%25.51%34.31%2.22%10.75%

PLD SEC Filings & Documents

Prologis, Inc. (PLD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 16, 2026·SEC

Material company update

Mar 31, 2026·SEC

Material company update

Jan 21, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 14, 2025·SEC

10-Q Quarterly Reports

5
FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 30, 2025·SEC

FY 2025

Apr 29, 2025·SEC

PLD Frequently Asked Questions

Prologis, Inc. (PLD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Prologis, Inc. (PLD) reported $8.74B in revenue for fiscal year 2024. This represents a 15486% increase from $56.1M in 1997.

Prologis, Inc. (PLD) grew revenue by 2.2% over the past year. Growth has been modest.

Yes, Prologis, Inc. (PLD) is profitable, generating $3.21B in net income for fiscal year 2024 (45.5% net margin).

Dividend & Returns

Yes, Prologis, Inc. (PLD) pays a dividend with a yield of 2.67%. This makes it attractive for income-focused investors.

Prologis, Inc. (PLD) has a return on equity (ROE) of 6.4%. This is below average, suggesting room for improvement.

Industry Metrics

Prologis, Inc. (PLD) generated Funds From Operations (FFO) of $5.82B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Explore More PLD

Prologis, Inc. (PLD) financial analysis — history, returns, DCA and operating performance tools

Full PLD Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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