Prologis, Inc. (PLD)

Prologis, Inc. don't just lead the industry, they define it. The firm creates the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, their ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of onenot just shaping the future of logistics but building what comes next. Prologis, Inc. was established in 1983 and is incorporated in Maryland.

Symbol: PLD
Exchange: NYSE
Sector: Real Estate
Industry: REIT - Industrial
Market cap: $119.80B
52 week range: 111.03 - 153.35

Valuation

Share price: $128.18 (close of 2026-10-01)
P/E (TTM): 32.29x
Price to book: 2.07x
Price to free cash flow: 23.33x
Enterprise value: $153.61B
Book value per share: $62.16

Price performance

Period	Change
1 day	-1.28%
5 days	-4.21%
1 month	-8.23%
3 months	-6.30%
6 months	-3.86%
Year to date	+0.41%
1 year	+10.04%
3 years	+14.23%
5 years	+1.38%
10 years	+139.41%
All time	+457.30%

Members of Congress who disclosed PLD trades

David Taylor · Thomas Kean · Jefferson Shreve · Dan Newhouse · Gilbert Ray Cisneros · Julie Johnson · Kevin Hern · Ritchie Torres · Shelley Moore Capito

Super investors holding PLD

Third Avenue Management (Third Avenue Management LLC)

Profitability and growth

Return on equity: 5.76%
Return on invested capital: 4.50%
Return on assets: 3.37%
Gross margin: 54.91%
Net margin: 37.86%
EBITDA margin: 79.45%
Revenue growth: 7.18%
Net income growth: -10.81%
Free cash flow growth: 1.96%

Cash flow and balance sheet

Free cash flow yield (TTM): 4.29%
Net debt to EBITDA: 4.29x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $8.79B
Cost of revenue: $3.96B
Gross profit: $4.83B
EBITDA: $6.98B
Net income: $3.33B
Earnings per share: $3.58
Interest expense: $1.00B
Shares outstanding: 928.47M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$8.79B	$4.83B	$3.33B	$3.58
2024-12-31	$8.20B	$4.83B	$3.73B	$4.02
2023-12-31	$8.02B	$4.10B	$3.06B	$3.30
2022-12-31	$5.97B	$3.80B	$3.36B	$4.28
2021-12-31	$4.76B	$3.50B	$2.94B	$3.97
2020-12-31	$4.44B	$2.39B	$1.48B	$2.02
2019-12-31	$3.33B	$2.12B	$1.57B	$2.48
2018-12-31	$2.80B	$1.93B	$1.65B	$2.90
2017-12-31	$2.62B	$2.19B	$1.65B	$3.10
2016-12-31	$2.53B	$890.45M	$1.21B	$2.29

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	54.91%	37.86%	5.76%	4.50%
2024-12-31	58.95%	45.50%	6.37%	4.79%
2023-12-31	51.08%	38.13%	5.29%	4.02%
2022-12-31	63.59%	56.33%	5.82%	4.06%
2021-12-31	73.54%	61.77%	7.79%	8.01%
2020-12-31	53.93%	33.38%	4.08%	3.75%
2019-12-31	63.55%	47.23%	6.03%	4.75%
2018-12-31	68.71%	58.81%	6.39%	4.45%
2017-12-31	83.46%	63.11%	8.83%	6.86%
2016-12-31	35.15%	47.76%	6.56%	2.17%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.15B	$35.04B
2024-12-31	$1.32B	$30.88B
2023-12-31	$530.00M	$29.00B
2022-12-31	$278.00M	$23.88B
2021-12-31	$556.00M	$215.30M
2020-12-31	$598.00M	$16.85B
2019-12-31	$1.09B	$11.91B
2018-12-31	$343.86M	$11.09B
2017-12-31	$447.05M	$9.41B
2016-12-31	$807.32M	$10.61B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$5.01B	$185.47M
2024-12-31	$4.91B	$231.75M
2023-12-31	$5.37B	$267.65M
2022-12-31	$4.13B	$175.36M
2021-12-31	$3.00B	$113.03M
2020-12-31	$2.94B	$109.83M
2019-12-31	$2.26B	$97.56M
2018-12-31	$1.80B	$76.09M
2017-12-31	$1.69B	$76.64M
2016-12-31	$1.42B	$60.34M