PLD

PROLOGIS
D

PLD

Arincen55/100B

If you had invested in PROLOGIS ago, it would be worth $3,678 today, against $4,096 in SPY and $6,368 in QQQ.

ArincenArincen ScoreBeta

55/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability4

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation5

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength0

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

PROLOGIS key facts

Style
Dividend stock · 8.0/10Growth 4.1 · Value 6.1 · Dividend 8.0
Day range
127.510 – 129.280
52-week range
121.400 – 153.350
Market capitalization
122.55B USD
P/E
28.40
PEG ratio
28.72
EPS
4.54
Div Yield
3.32%
EPS growth forecast (FY2026)
+5.2%
Volume
74,520
Beta
1.29
ESG score
75.2/100Environment 80 · Social 69 · Governance 76
Sector
Real Estate
Industry
REIT - Industrial
CEO
Daniel S. Letter
Employees
3K
IPO date
21 Nov 1997

PROLOGIS earnings

Next earnings · Q4 FY2026
EPS estimate
0.76 USD
Revenue estimate
2.24B USD
Last quarter · Q3 FY2026
EPS1.60Beat +105.9%Revenue2.39BBeat +9.7%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q4 FY20260.76——-49.19%2.24B——+7.26%
Q3 FY20260.781.60+105.92%+95.12%2.18B2.39B+9.75%+16.23%
Q2 FY20260.751.13+51.27%+85.25%2.16B2.18B+0.73%+7.49%
Q1 FY20260.811.05+30.27%+61.54%2.12B2.13B+0.18%+6.94%
Q4 FY20250.741.49+102.17%+7.97%2.09B2.09B+0.14%+7.98%
Q3 FY20250.670.82+22.75%-24.07%2.03B2.05B+1.20%+8.28%
Q2 FY20250.690.61-11.72%-33.70%2.01B2.03B+0.91%+9.30%

Analysts' estimates for FY2026 over the last 7 days:EPS Revenue How the estimates moved

PROLOGIS analyst forecast

12-month price target
154.21 USD
+19.61%

Analysts' 1-year price targets range from 136.00 to 170.00, with an average of 154.21.

Past year
1-year forecast
Strong sellStrong buy
Buy
17 ratings
Buy
12
Hold
5
Sell
0

12-month price target

Highest target170.00
Average target154.21
Lowest target136.00
Current price128.93

PROLOGIS valuation

Price to earnings ratio (TTM)
28.40
Forward P/E (FY2026)
34.32
Price to sales (TTM)
13.09
Price to book
2.19
EV / EBITDA (TTM)
18.38

Capital structure

Market capitalization
122.55B USD
+
Total debt
36.83B USD
−
Cash and short-term investments
2.27B USD
=
Enterprise value
157.11B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)35.16————
FY2027 (est.)38.6435.16———
FY2026 (est.)34.3238.64———
Now (TTM)28.4038.0113.092.1918.38
FY202535.7633.9813.632.2521.35
FY202426.2338.3711.941.8117.00
FY202340.3940.3215.742.3823.66
FY202227.1632.8415.271.7119.92
FY202143.6232.8426.903.8328.27

PROLOGIS against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Equinix, American Tower, Welltower, Simon Property Group, Digital Realty Trust, and Public Storage, the US Real Estate companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Below its median28.4
    20.543.7
  • Gross marginLowest in 5 years59.6%
    59.6%74.9%
    Against its peers: 3 of 7Peers' median 53.4%
  • Operating marginBelow its median49.6%
    46.2%67.4%
    Against its peers: 2 of 7Peers' median 32.9%
  • Net marginLowest in 5 years37.9%
    37.9%61.8%
    Against its peers: 2 of 7Peers' median 22.6%
  • Return on equityBelow its median6.3%
    5.8%8.8%
    Against its peers: 5 of 7Peers' median 14.4%
  • Free cash flow marginBelow its median57.0%
    52.5%67.0%
    Against its peers: 2 of 7Peers' median 37.5%
  • Revenue growthBelow its median7.2%
    2.2%34.3%
    Against its peers: 3 of 7Peers' median 6.3%
  • EPS growthBelow its median-11.2%
    -22.6%102.1%
    Against its peers: 5 of 7Peers' median 36.9%
  • Debt to EBITDAHighest in 5 years4.87×
    3.53×4.87×
    Against its peers: 3 of 7Peers' median 6.16×
  • Current ratioLowest in 5 years0.23
    0.230.97
    Against its peers: 6 of 7Peers' median 1.03

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

PROLOGIS growth and profitability

Revenue (TTM)
9.36B USD
Net income (TTM)
4.26B USD
Gross margin
21.67%
Operating margin
54.83%
Net margin
45.51%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY20258.79B+7.18%3.33B-10.81%59.60%49.58%37.86%7.20B-4.43%
FY20248.20B+2.22%3.73B+21.98%74.92%53.84%45.50%7.53B+14.69%
FY20238.02B+34.31%3.06B-9.08%74.94%46.21%38.13%6.57B+13.33%
FY20225.97B+25.51%3.36B+14.46%74.74%58.05%56.33%5.80B+12.51%
FY20214.76B+7.23%2.94B+98.39%73.77%67.38%61.77%5.15B+42.72%

PROLOGIS revenue breakdown

By product

FY2025
Real Estate Operations: 93.3%Strategic Capital: 6.7%93.3%Real Estate Operations6.7%Strategic Capital
SegmentRevenueShare of revenueChange on the year
Real Estate Operations8.20B93.3%+8.9%
Strategic Capital592.35M6.7%-11.8%

By region

FY2025
Real Estate Operations: 97.3%Strategic Capital: 2.7%97.3%Real Estate Operations2.7%Strategic Capital
RegionRevenueShare of revenueChange on the year
Real Estate Operations7.80B97.3%—
Strategic Capital218.82M2.7%—

How PROLOGIS makes its money

Real Estate Operations8.20B 93.3%
Strategic Capital592.35M 6.7%
Revenue8.79B 100.0%
Cost of revenue3.55B 40.4%
Gross profit5.24B 59.6%
Selling and administration477.84M 5.4%
Other operating expenses403.02M 4.6%
Operating income4.36B 49.6%
Tax204.02M 2.3%
Other expense825.62M 9.4%
Net income3.33B 37.9%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

PROLOGIS dividends

Annual dividend
4.28 USD
Dividend yield (indicated)
3.32%
Payout ratio (FFO)
54.08%
Years of dividend growth
13
Frequency
Quarterly
Last payment
1.07 USD
Last ex-dividend date
16 Sept 2026
Last payment date
30 Sept 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share4.043.843.483.162.522.322.121.921.761.68

PROLOGIS financial health

Cash and short-term investments
2.27B USD
Total debt
36.83B USD
Net cash
-34.56B USD
Current ratio
0.36
Debt to equity
0.66
Piotroski score
5 / 9
Altman Z-score
1.88

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20251.15B35.04B5.01B
FY20241.32B31.49B4.91B
FY2023530.39M29.60B5.37B
FY2022278.48M24.51B3.58B
FY2021556.12M18.16B2.50B

PROLOGIS ownership

Institutions
96.13%
Institutional holders
1,797 (+60)
Free float
99.75%

Who owns the shares

Institutions 96.1% Others 3.9%
As of 30 Jun 2026

Shares free to trade

Free float 948.13M shares ·99.7% Closely held 2.38M shares ·0.3%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q3 20260167.02K54.50K
Q2 20260168.99K105.96K
Q1 2026012.34M2.04M
Q4 20250682.03K163.51K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025938.41M958.02M+0.46%
FY2024926.17M953.59M+0.19%
FY2023947.71M951.79M+17.27%
FY2022808.91M811.61M+6.13%
FY2021760.31M764.76M-1.34%

Source: Financial Modeling PrepVerified against SEC filings

Related Instruments

Title: PROLOGIS

Sector: Real Estate
Industry: REIT - Industrial
Prologis is an industrial real estate investment trust that was formed as a result of the 2011 merger between AMB Property and Prologis Trust, forging the world's largest owner and operator of logistics real estate across warehouses, distribution centers, and fulfillment facilities. The core business generates rental revenue by leasing logistics space to a diverse customer base of retailers, manufacturers, and e-commerce companies. As of September 2026, its portfolio of properties and development projects totaled about 1.3 billion square feet across 20 countries, concentrated near major population centers, ports, and transportation hubs, though the United States accounted for about 84% of net operating income.

Common questions about PROLOGIS stock