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PLD Prologis, Inc.

NYSEReal estateReal Estate Investment TrustsSan Francisco, CAFY ends December 31

New 8-K: Filed an 8-K current report in the last 7 days.Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 13, 2026

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$8.79BYoYup 7.18%ended Dec 31, 2025
Net income
$3.33B37.9% margin
Diluted EPS
$3.56YoYdown 11.22%
Free cash flow
—
Cash
$1.15B
Total debt
—Not meaningful for financial companies
About Prologis, Inc.

Overview

Prologis, Inc. (PLD) is listed on NYSE; the SEC classifies it under "Real Estate Investment Trusts".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $8.79B, up 7.2% from fiscal 2024.

Net income was $3.33B, a net margin of 37.9%.

At fiscal year end it had total assets of $98.72B and stockholders' equity of $53.19B (53.9% of assets).

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 13, 2026
Latest filing
8-KOct 30, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016—$1.21B—
FY2017—$1.65B—
FY2018$2.8B$1.65B58.8%
FY2019$3.33B$1.57B47.2%
FY2020$4.44B$1.48B33.4%
FY2021$4.76B$2.94B61.8%
FY2022$5.97B$3.36B56.3%
FY2023$8.02B$3.06B38.1%
FY2024$8.2B$3.73B45.5%
FY2025$8.79B$3.33B37.9%

Gross, operating and net margin

Gross, operating and net margin, fiscal years FY2016 to FY2025.
PeriodOperating marginNet margin
FY2016——
FY2017——
FY201830.2%58.8%
FY201955.5%47.2%
FY202047.7%33.4%
FY202167.4%61.8%
FY202258.0%56.3%
FY202346.2%38.1%
FY202453.8%45.5%
FY202549.6%37.9%

Gross margin: Not meaningful for financial companies

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$2.27
FY2017$3.06
FY2018$2.87
FY2019$2.46
FY2020$2.01
FY2021$3.94
FY2022$4.25
FY2023$3.29
FY2024$4.01
FY2025$3.56

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY2016547M
FY2017552M
FY2018590M
FY2019655M
FY2020754M
FY2021765M
FY2022812M
FY2023952M
FY2024954M
FY2025957M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalents
FY2016$807M
FY2017$447M
FY2018$344M
FY2019$1.09B
FY2020$598M
FY2021$556M
FY2022$278M
FY2023$530M
FY2024$1.32B
FY2025$1.15B

Total debt: Not meaningful for financial companies

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Gross marginNot meaningful for financial companies
—
Operating margin
49.6%
Net margin
37.9%
Return on equity
6.2%
Return on assets
3.4%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 7.18%up 13.74%up 14.64%—
EPS (diluted)down 11.22%down 5.73%up 12.11%up 5.13%
Free cash flow————
Change in share count
+0.34%

Financial strength

Current ratioNot meaningful for financial companies
—
Debt / equityNot meaningful for financial companies
—
Liabilities / assets
41.5%
Net debtNot meaningful for financial companies
—
Interest coverageNot meaningful for financial companies
—
Equity / assets
53.9%

Shareholder returns

Dividends per share
$0.03
Dividends paid
$3.76B
Payout ratio
113.1%
Stock comp. / revenue
2.1%

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

Not meaningful for financial companies.

Altman Z''-Score

Not meaningful for financial companies.

Screening heuristic, not a recommendation. Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue8,7908,2028,0235,9744,7594,4393,3312,804——
YoY (Revenue)+7.18%+2.22%+34.31%+25.51%+7.23%+33.27%+18.76%———
Operating income4,3584,4163,7083,4683,2072,1191,850847771668
Interest expense1,002864641309266315240229274303
Pretax income3,7694,1153,4643,6913,3231,7471,7761,8861,8161,347
Income tax20416721113517413074.563.354.654.6
Net income3,3283,7323,0593,3652,9401,4821,5731,6491,6521,210
YoY (Net income)-10.81%+21.98%-9.08%+14.46%+98.39%-5.79%-4.63%-0.18%+36.56%—
EPS (basic)3.584.023.304.283.972.022.482.903.102.29
EPS (diluted)3.564.013.294.253.942.012.462.873.062.27
YoY (EPS (diluted))-11.22%+21.88%-22.59%+7.87%+96.02%-18.29%-14.29%-6.21%+34.80%—
Diluted shares (weighted)957954952812765754655590552547

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents1,1461,3195302785565981,089344447807
Total assets98,72495,32993,02187,89758,48656,06540,03238,41829,48130,250
Long-term debt35,03730,87929,00123,87617,71516,84911,90611,0909,41310,608
Total liabilities40,97036,71235,19730,03420,74419,74013,96012,61710,77511,792
Retained earnings-902-466-627-458-1,328-2,395-2,151-2,378-2,904-3,610
Stockholders' equity53,19353,95153,18253,23733,42731,97222,65322,29815,63114,991
Shares outstanding929926924923740739632630532529

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow5,0084,9125,3734,1262,9962,9372,2641,804——
Depreciation & amortization2,6262,5812,4851,8131,5781,5621,140947879931
Stock-based compensation18523226817511311097.676.176.660.3
Dividends paid3,7653,5703,2292,4951,8731,7231,3461,123943893
Dividends per share0.030.010.000.020.000.000.000.030.010.15
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$3.56
Revenue per share
$9.19
Book value per share
$55.59
Tangible book per share
$55.59
Cash per share
$1.20
Dividends per share
$0.03
Public floatas of Jun 30, 2025
$97.3B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 8-KNew
    Current report· Oct 30, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  2. 10-Q
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  3. 8-K
    Current report· Oct 15, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  4. 8-K
    Current report· Aug 5, 2026(SEC EDGAR)
    • 8.01Other events
  5. 8-K
    Current report· Aug 4, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  6. 8-K
    Current report· Aug 4, 2026(SEC EDGAR)
    • 1.01Material agreement
    • 2.03New financial obligation
    • 3.02Unregistered sale of equity
    • 8.01Other events
    • 9.01Financial statements and exhibits
  7. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  8. 8-K
    Current report· Jul 16, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  9. 8-K
    Current report· Jun 29, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 9.01Financial statements and exhibits
  10. 8-K
    Current report· Jun 16, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
All filings on SEC EDGAR
SIC 6798 · Real Estate Investment Trusts

Peers (same SIC code)

Peers (same SIC code)
TickerRevenue (FY)YoYNet marginROEF-Score5y revenue
WELLWELLTOWER INC.$10.8Bup 35.63%———
PLDPrologis, Inc. (This company)$8.79Bup 7.18%37.9%6.2%—
Peer median$10.8Bup 35.63%————

Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.

Frequently asked questions

What does Prologis, Inc. do?

The SEC classifies Prologis, Inc. under Standard Industrial Classification (SIC) code 6798, "Real Estate Investment Trusts". It is headquartered in San Francisco, CA. It is incorporated in MD. In fiscal 2025 it reported revenue of $8.79B and net income of $3.33B in its annual 10-K report.

What was Prologis, Inc.'s revenue in 2025?

Prologis, Inc. reported revenue of $8.79B for fiscal 2025, which ended Dec 31, 2025, up 7.2% from $8.2B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 13, 2026.

What was Prologis, Inc.'s net income in 2025?

Prologis, Inc. reported net income of $3.33B for fiscal 2025, a net margin of 37.9% of revenue.

Where is Prologis, Inc. listed?

According to the SEC, Prologis, Inc.'s ticker PLD is listed on NYSE. The SEC also lists the ticker PLDGP for the company.

When does Prologis, Inc.'s fiscal year end?

According to the SEC, Prologis, Inc.'s fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.