PLD · Prologis, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.30B | - | $2.21B | $2.18B | $2.14B | - | $2.04B | $2.01B | $1.96B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $126.89M | - | $110.66M | $106.87M | $114.70M | - | $98.15M | $106.60M | $111.29M | - |
| Total Operating Expenses | $612.29M | - | $562.63M | $527.22M | $545.31M | - | - | - | - | - |
| D&A | $731.51M | - | $648.00M | $657.22M | $652.06M | - | $649.26M | $637.30M | $637.50M | - |
| Operating Income | $1.21B | - | $940.26M | $912.71M | $878.41M | - | $1.25B | $1.02B | $720.36M | - |
| Interest Expense | $254.29M | - | $258.27M | $208.27M | $193.32M | - | $230.11M | $208.27M | $193.32M | - |
| Income Tax | $47.97M | - | $54.53M | $23.41M | $43.38M | - | $4.21M | $43.06M | $32.80M | - |
| Net Income | $981.98M | - | $764.27M | $571.23M | $592.95M | - | $1.01B | $861.35M | $585.72M | - |
| EPS - Basic | $1.05 | - | $0.82 | $0.61 | $0.64 | - | $1.08 | $0.93 | $0.63 | - |
| EPS - Diluted | $1.05 | - | $0.82 | $0.61 | $0.63 | - | $1.08 | $0.92 | $0.63 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $861.14M | $1.15B | $1.19B | $1.07B | $671.12M | $1.32B | $780.87M | $598.35M | $500.59M | $530.39M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $98.13B | $98.72B | $98.34B | $97.72B | $95.99B | $95.33B | $95.91B | $93.54B | $93.31B | $93.02B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $34.67B | $35.04B | $35.30B | $34.67B | $32.26B | $30.88B | $32.29B | $29.90B | $29.56B | $29.00B |
| Total Liabilities | $40.18B | $40.97B | $41.13B | $40.41B | $37.92B | $36.71B | $38.24B | $35.61B | $35.51B | $35.20B |
| Stockholders' Equity | $53.50B | $53.19B | $52.64B | $52.73B | $53.47B | $53.95B | $53.07B | $53.35B | $53.19B | $53.18B |
| Retained Earnings | ($921.03M) | ($902.43M) | ($1.36B) | ($1.18B) | ($812.88M) | ($465.91M) | ($851.76M) | ($964.62M) | ($933.16M) | ($627.07M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.29B | - | - | - | $1.16B | - | - | - | $1.06B | - |
| Investing Cash Flow | ($400.62M) | - | - | - | ($1.55B) | - | - | - | ($1.08B) | - |
| Financing Cash Flow | ($1.16B) | - | - | - | ($275.56M) | - | - | - | $2.39M | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 52.7% | - | 42.5% | 41.8% | 41.1% | - | 61.4% | 51.0% | 36.8% | - |
| EBITDA margin | 84.5% | - | 71.7% | 71.9% | 71.5% | - | 93.3% | 82.7% | 69.4% | - |
| Net margin | 42.7% | - | 34.5% | 26.2% | 27.7% | - | 49.4% | 42.9% | 29.9% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 5.5% | - | 5.0% | 4.9% | 5.4% | - | 4.8% | 5.3% | 5.7% | - |
| Effective tax rate | 4.7% | - | 6.7% | 3.9% | 6.8% | - | 0.4% | 4.8% | 5.3% | - |
| Return on assets | 1.0% | - | 0.8% | 0.6% | 0.6% | - | 1.0% | 0.9% | 0.6% | - |
| Return on equity | 1.8% | - | 1.5% | 1.1% | 1.1% | - | 1.9% | 1.6% | 1.1% | - |
| Return on invested capital | 1.3% | - | 1.0% | 1.0% | 1.0% | - | 1.5% | 1.2% | 0.8% | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | 0.65 | 0.66 | 0.67 | 0.66 | 0.60 | 0.57 | 0.61 | 0.56 | 0.56 | 0.55 |
| Debt / Assets | 0.35 | 0.35 | 0.36 | 0.35 | 0.34 | 0.32 | 0.34 | 0.32 | 0.32 | 0.31 |
| Debt / EBITDA | 17.85 | - | 22.23 | 22.08 | 21.08 | - | 16.99 | 18.01 | 21.77 | - |
| Interest coverage | 4.8x | - | 3.6x | 4.4x | 4.5x | - | 5.4x | 4.9x | 3.7x | - |
| Equity multiplier | 1.83 | 1.86 | 1.87 | 1.85 | 1.80 | 1.77 | 1.81 | 1.75 | 1.75 | 1.75 |
| Liabilities / Assets | 0.41 | 0.41 | 0.42 | 0.41 | 0.40 | 0.39 | 0.40 | 0.38 | 0.38 | 0.38 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | - | 0.02 | 0.02 | 0.02 | - | 0.02 | 0.02 | 0.02 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 125.9x | - | 139.7x | 172.3x | 177.4x | - | 116.9x | 122.1x | 206.7x | - |
| P / B | 2.4x | - | 2.1x | 1.9x | 2.0x | - | 2.3x | 2.0x | 2.3x | - |
| P / S | 55.1x | - | 49.5x | 46.0x | 50.0x | - | 59.1x | 53.3x | 63.5x | - |
| EV / EBITDA | 82.6x | - | 90.5x | 85.4x | 90.5x | - | 80.0x | 82.1x | 112.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 7.4% | - | 8.7% | 8.8% | 9.4% | - | 6.4% | -18.1% | 10.6% | - |
| Revenue CAGR (3y) | 9.1% | - | 8.1% | 20.4% | 20.6% | - | 19.8% | 20.4% | 19.4% | - |
| Revenue CAGR (5y) | 14.9% | - | 15.4% | 11.5% | 16.9% | - | 16.7% | 20.5% | 20.4% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 37.9% | - | -24.8% | -10.8% | 21.9% | - | 41.8% | -27.5% | 24.4% | - |
| Net income growth (YoY) | 65.6% | - | -24.0% | -33.7% | 1.2% | - | 34.5% | -29.2% | 26.1% | - |
| EPS growth (YoY) | 66.7% | - | -24.1% | -33.7% | 0.0% | - | 35.0% | -29.8% | 26.0% | - |
| EPS CAGR (3y) | 28.1% | - | -15.5% | -9.4% | -25.8% | - | 3.6% | 4.3% | 8.7% | - |
| EPS CAGR (5y) | 16.5% | - | 15.4% | 2.5% | -2.1% | - | 8.8% | 8.9% | 2.8% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 0.1% | -1.4% | -0.8% | -1.2% | 0.5% | 1.4% | -1.1% | -0.2% | 0.7% | -0.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$8.79B totalReal Estate Operations Segment$8.20B · 93.3%
Strategic Capital Segment$592.35M · 6.7%
Geographic
$5.18B totalEurope$2.05B · 39.6%
US$1.65B · 31.8%
Other Americas$831.00M · 16.0%
Asia$650.00M · 12.6%
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing Prologis against the 5 most active filers in the same SIC group.
Dividends
$4.10/share trailing 12 months · +5.4% YoY
| Ex-date | Per share |
|---|---|
| Mar 17, 2026 | $1.0700 |
| Dec 16, 2025 | $1.0100 |
| Sep 16, 2025 | $1.0100 |
| Jun 17, 2025 | $1.0100 |
| Mar 18, 2025 | $1.0100 |
| Dec 16, 2024 | $0.9600 |
| Sep 16, 2024 | $0.9600 |
| Jun 17, 2024 | $0.9600 |
| Mar 15, 2024 | $0.9600 |
| Dec 15, 2023 | $0.8700 |
| Sep 15, 2023 | $0.8700 |
| Jun 15, 2023 | $0.8700 |
| Mar 16, 2023 | $0.8700 |
| Dec 16, 2022 | $0.7900 |
| Sep 14, 2022 | $0.7900 |
| Jun 15, 2022 | $0.7900 |
| Mar 17, 2022 | $0.7900 |
| Dec 13, 2021 | $0.6300 |
| Sep 16, 2021 | $0.6300 |
| Jun 15, 2021 | $0.6300 |
| Mar 18, 2021 | $0.6300 |
| Dec 17, 2020 | $0.5800 |
| Sep 16, 2020 | $0.5800 |
| Jun 15, 2020 | $0.5800 |