Prologis Inc. (PLD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PLD SEC filings page.
Prologis Inc. (PLD) reported $8.9B in revenue over the twelve months to Mar 31, 2026, up 6.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
An asset-heavy property model converts recurring operating cash into distributions while rising leverage and interest expense compress earnings.
Cash conversion looked stronger than accounting profitability: operating cash flow reached$5.0B versus net income of$3.3B in FY2025, with the gap reflecting substantial non-cash depreciation in the asset base. However, investing cash outflows of$3.6B show that converting earnings into operating cash does not make that cash fully discretionary.
Margin compression appeared even as revenue expanded: operating margin fell from
Distribution load was substantial, with dividends consuming approximately
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Prologis Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Prologis Inc. scores 97/100 on it among other REITs.
FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Prologis Inc. scores 44/100 on it among other REITs.
Prologis Inc.'s net debt of $33.9B, being $35.0B of long-term debt less $1.1B of cash, came to 4.85 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and Prologis Inc. scores 56/100 among other REITs.
Prologis Inc.'s operating income of $4.4B covered its interest expense of $1.0B 4.35 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Prologis Inc. scores 88/100 among other REITs.
AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Prologis Inc. scores 96/100 on it among other REITs.
Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Prologis Inc. scores 59/100 on it among other REITs.
Prologis Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Prologis Inc. generates $1.50 in operating cash flow ($5.0B OCF vs $3.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Prologis Inc. earns $4.35 in operating income for every $1 of interest expense ($4.4B vs $1.0B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Prologis Inc. generated $2.3B in revenue in Q1 2026. This represents an increase of 7.4% from the same quarter a year earlier. Against the prior quarter it is up 2.0%.
Prologis Inc.'s EBITDA was $1.9B in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.9% from the same quarter a year earlier. Against the prior quarter it is down 15.4%.
Prologis Inc. reported $982.0M in net income in Q1 2026. This represents an increase of 65.6% from the same quarter a year earlier. Against the prior quarter it is down 33.7%.
Prologis Inc. earned $1.05 per diluted share (EPS) in Q1 2026. This represents an increase of 66.7% from the same quarter a year earlier. Against the prior quarter it is down 29.5%.
Cash & Balance Sheet
Prologis Inc. held $861.1M in cash against $34.7B in long-term debt as of Q1 2026.
Prologis Inc. paid $1.07 per share in dividends in Q1 2026. This represents an increase of 5.9% from the same quarter a year earlier. Against the prior quarter it is up 5.9%.
Not reported for Q1 2026.
Margins & Returns
Prologis Inc.'s operating margin was 52.7% in Q1 2026, reflecting core business profitability. This is up 11.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 19.5 percentage points.
Prologis Inc.'s net profit margin was 42.7% in Q1 2026, showing the share of revenue converted to profit. This is up 15.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 23.1 percentage points.
Prologis Inc.'s ROE was 1.8% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.0 percentage points.
Not reported for Q1 2026.
Capital Allocation
None of these metrics is reported for Q1 2026.
PLD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-Q | Q4'2410-K | Q3'2410-K | Q2'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B+7.4% | $2.3B+2.4% | $2.2B+8.7% | $2.2B+8.8% | $2.1B+9.4% | $2.2B+16.5% | $2.0B+6.4% | $2.0B-18.1% |
| SG&A Expenses | $126.9M+10.6% | N/A | $110.7M+12.7% | $106.9M+0.3% | $114.7M+3.1% | N/A | $98.2M+1.5% | $106.6M+11.4% |
| Operating Income | $1.2B+37.9% | $1.6B+14.4% | $940.3M-24.8% | $912.7M-10.8% | $878.4M+21.9% | $1.4B+70.2% | $1.3B+41.8% | $1.0B-27.5% |
| EBITDA | $1.9B+26.9% | $2.3B+10.5% | $1.6B-16.4% | $1.6B-5.5% | $1.5B+12.7% | $2.1B+41.0% | $1.9B+24.7% | $1.7B-17.5% |
| Interest Expense | $254.3M+9.7% | N/A | $258.3M+12.2% | $251.9M+20.9% | $231.8M+19.9% | N/A | $230.1M+27.1% | $208.3M+39.0% |
| Income Tax | $48.0M+10.6% | N/A | $54.5M+1194.1% | $23.4M-45.6% | $43.4M+32.3% | N/A | $4.2M-89.8% | $43.1M-45.7% |
| Net Income | $982.0M+65.6% | $1.5B+10.4% | $764.3M-24.0% | $571.2M-33.7% | $593.0M+1.2% | $1.3B+98.6% | $1.0B+34.5% | $861.3M-29.2% |
| EPS (Basic) | $1.05+64.1% | $1.50+8.7% | $0.82-24.1% | $0.61-34.4% | $0.64+1.6% | $1.38+102.9% | $1.08+33.3% | $0.93-29.0% |
| EPS (Diluted) | $1.05+66.7% | $1.49+8.8% | $0.82-24.1% | $0.61-33.7% | $0.630.0% | $1.37+101.5% | $1.08+35.0% | $0.92-29.8% |
| Diluted Shares (Avg) | 958M+0.2% | N/A | 957M+0.3% | 956M+0.3% | 956M+0.2% | N/A | 954M+0.2% | 953M+0.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
PLD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-Q | Q4'2410-K | Q3'2410-K | Q2'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $98.1B+2.2% | $98.7B+3.6% | $98.3B+2.5% | $97.7B+4.5% | $96.0B+2.9% | $95.3B+2.5% | $95.9B+4.3% | $93.5B+1.2% |
| Cash & Equivalents | $861.1M+28.3% | $1.1B-13.1% | $1.2B+51.9% | $1.1B+78.2% | $671.1M+34.1% | $1.3B+148.8% | $780.9M+5.4% | $598.3M+12.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | N/A | $601.3M+47.6% | N/A | N/A | N/A | $407.5M+25.1% | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $40.2B+6.0% | $41.0B+11.6% | $41.1B+7.6% | $40.4B+13.5% | $37.9B+6.8% | $36.7B+4.3% | $38.2B+13.5% | $35.6B+3.8% |
| Long-Term Debt | $34.7B+7.5% | $35.0B+13.5% | $35.3B+9.3% | $34.7B+15.9% | $32.3B+9.1% | $30.9B+6.5% | $32.3B+17.1% | $29.9B+6.3% |
| Total Equity | $53.5B+0.1% | $53.2B-1.4% | $52.6B-0.8% | $52.7B-1.2% | $53.5B+0.5% | $54.0B+1.4% | $53.1B-1.1% | $53.3B-0.2% |
| Retained Earnings | -$921.0M-13.3% | -$902.4M-93.7% | -$1.4B-59.7% | -$1.2B-22.7% | -$812.9M+12.9% | -$465.9M+25.7% | -$851.8M-89.5% | -$964.6M-146.8% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities.
PLD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-Q | Q4'2410-K | Q3'2410-K | Q2'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.3B+11.0% | $1.2B-13.3% | $1.4B+0.9% | $1.2B+14.3% | $1.2B+10.0% | $1.3B+24.3% | $1.4B-27.1% | $1.1B-10.6% |
| Depreciation & Amortization | $731.5M+12.2% | $668.8M+1.9% | $648.0M-0.2% | $657.2M+3.1% | $652.1M+2.3% | $656.4M+2.8% | $649.3M+1.1% | $637.3M+5.8% |
| Stock-Based Compensation | $60.6M+14.1% | N/A | N/A | N/A | $53.2M-20.9% | N/A | N/A | N/A |
| Investing Cash Flow | -$400.6M+74.2% | $25.1M-92.1% | -$1.1B+37.5% | -$1.0B-65.9% | -$1.6B-43.0% | $320.0M+126.5% | -$1.7B-144.8% | -$623.8M+82.0% |
| Financing Cash Flow | -$1.2B-320.3% | -$1.2B-11.6% | -$251.7M-156.6% | $181.9M+151.1% | -$275.6M-11639.4% | -$1.1B-1199.5% | $445.1M+142.5% | -$355.8M-115.6% |
| Dividends Paid | $1.0B+6.5% | $942.0M+5.5% | $941.3M+5.4% | $941.6M+5.5% | $939.9M+5.4% | $893.0M+10.4% | $892.9M+10.7% | $892.8M+10.6% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
PLD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-Q | Q4'2410-K | Q3'2410-K | Q2'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 52.7%+11.7pp | 72.2%+7.6pp | 42.5%-19.0pp | 41.8%-9.2pp | 41.0%+4.2pp | 64.6%+20.4pp | 61.4%+15.4pp | 51.0%-6.6pp |
| Net Margin | 42.7%+15.0pp | 65.8%+4.8pp | 34.5%-14.9pp | 26.2%-16.7pp | 27.7%-2.2pp | 61.0%+25.2pp | 49.4%+10.3pp | 42.9%-6.7pp |
| Return on Equity | 1.8%+0.7pp | 2.8%+0.3pp | 1.5%-0.4pp | 1.1%-0.5pp | 1.1%0.0pp | 2.5%+1.2pp | 1.9%+0.5pp | 1.6%-0.7pp |
| Return on Assets | 1.0%+0.4pp | 1.5%+0.1pp | 0.8%-0.3pp | 0.6%-0.3pp | 0.6%0.0pp | 1.4%+0.7pp | 1.1%+0.2pp | 0.9%-0.4pp |
| Debt-to-Equity | 0.650.0x | 0.66+0.1x | 0.67+0.1x | 0.66+0.1x | 0.600.0x | 0.570.0x | 0.61+0.1x | 0.560.0x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Prologis Inc. PLD | FY2025 | $8.8B | $3.3B | 37.9% | $132.8B | 73/100 |
| Public Storage PSA | FY2025 | $4.8B | $1.8B | 37.0% | $55.7B | 36/100 |
| Extra Space Storage Inc EXR | FY2025 | $3.4B | $974.0M | 28.8% | $29.6B | 43/100 |
| Rexford Indl Rlty Inc REXR | FY2025 | $1.0B | $219.8M | 21.9% | $8.3B | 51/100 |
| LINEAGE INC LINE | FY2025 | $5.4B | -$113.0M | -2.1% | $8.8B | 41/100 |
| First Indl Rlty Tr Inc FR | FY2025 | $727.1M | $247.4M | 34.0% | $8.3B | 48/100 |
Where Prologis Inc. Ranks
Frequently Asked Questions
What is Prologis Inc.'s annual revenue?
Prologis Inc. (PLD) reported $8.8B in total revenue for fiscal year 2025. This represents a 7.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Prologis Inc.'s revenue growing?
Prologis Inc. (PLD) revenue grew by 7.2% year-over-year, from $8.2B to $8.8B in fiscal year 2025.
Is Prologis Inc. profitable?
Yes, Prologis Inc. (PLD) reported a net income of $3.3B in fiscal year 2025, with a net profit margin of 37.9%.
What is Prologis Inc.'s EBITDA?
Prologis Inc. (PLD) had EBITDA of $7.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Prologis Inc. have?
As of fiscal year 2025, Prologis Inc. (PLD) had $1.1B in cash and equivalents against $35.0B in long-term debt.
What is Prologis Inc.'s operating margin?
Prologis Inc. (PLD) had an operating margin of 49.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Prologis Inc.'s net profit margin?
Prologis Inc. (PLD) had a net profit margin of 37.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Prologis Inc. pay dividends?
Yes, Prologis Inc. (PLD) paid $0.03 per share in dividends during fiscal year 2025.
What is Prologis Inc.'s return on equity (ROE)?
Prologis Inc. (PLD) has a return on equity of 6.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Prologis Inc.'s operating cash flow?
Prologis Inc. (PLD) generated $5.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Prologis Inc.'s total assets?
Prologis Inc. (PLD) had $98.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Prologis Inc.'s debt-to-equity ratio?
Prologis Inc. (PLD) had a debt-to-equity ratio of 0.66 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Prologis Inc.'s return on assets (ROA)?
Prologis Inc. (PLD) had a return on assets of 3.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Prologis Inc.'s P/E ratio?
Prologis Inc. (PLD) trades at 34.9x earnings, its market capitalization divided by net income of $3.8B net income, trailing 12 months to March 31, 2026. The market capitalization is $132.8B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Prologis Inc.'s price-to-sales ratio?
Prologis Inc. (PLD) trades at 14.8x sales, its market capitalization divided by revenue of $8.9B revenue, trailing 12 months to March 31, 2026. The market capitalization is $132.8B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Prologis Inc.'s Piotroski F-Score?
Prologis Inc. (PLD) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Prologis Inc.'s earnings high quality?
Prologis Inc. (PLD) has an earnings quality ratio of 1.50x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Prologis Inc. cover its interest payments?
Prologis Inc. (PLD) has an interest coverage ratio of 4.35x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Prologis Inc.?
Prologis Inc. (PLD) scores 73 out of 100 on our Financial Health Score, indicating strong standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.