Logo

PLD

Prologis, Inc.

PLD

Prologis, Inc. • NYSE
$128.53 ▲ 0.29% (+0.37)
Market Cap $119.25 B
52w High $129.33
52w Low $85.35
Dividend Yield 3.99%
P/E 37.36
Volume 1.34M
Outstanding Shares 927.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.214B ▲ $119.386M ▼ $764.266M ▲ 34.522% ▲ $0.82 ▲ $1.782B ▲
Q2-2025 $2.184B ▲ $718.277M ▲ $571.229M ▼ 26.157% ▼ $0.61 ▼ $1.555B ▼
Q1-2025 $2.14B ▼ $712.158M ▲ $592.953M ▼ 27.712% ▼ $0.65 ▼ $1.567B ▼
Q4-2024 $2.201B ▲ $259.755M ▼ $1.279B ▲ 58.113% ▲ $1.38 ▲ $2.291B ▲
Q3-2024 $2.036B $296.651M $1.006B 49.387% $1.08 $1.947B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.186B ▲ $98.341B ▲ $41.129B ▲ $52.636B ▼
Q2-2025 $1.066B ▲ $97.717B ▲ $40.41B ▲ $52.729B ▼
Q1-2025 $671.117M ▼ $95.993B ▲ $37.918B ▲ $53.467B ▼
Q4-2024 $1.319B ▲ $95.329B ▼ $36.712B ▼ $53.951B ▲
Q3-2024 $780.871M $95.905B $38.241B $53.072B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $821.26M ▲ $1.448B ▲ $-1.07B ▼ $-251.725M ▼ $119.941M ▼ $1.448B ▲
Q2-2025 $622.304M ▼ $1.242B ▲ $-1.035B ▲ $181.948M ▲ $394.964M ▲ $1.242B ▲
Q1-2025 $639.52M ▼ $1.161B ▼ $-1.551B ▼ $-275.56M ▲ $-647.474M ▼ $1.161B ▼
Q4-2024 $1.342B ▲ $1.335B ▼ $319.956M ▲ $-1.092B ▼ $537.72M ▲ $1.335B ▼
Q3-2024 $1.063B $1.435B $-1.711B $445.064M $182.524M $1.435B

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Real Estate Operations Segment
Real Estate Operations Segment
 $1.90Bn ▲$1.95Bn ▲$2.04Bn ▲$2.06Bn ▲
Strategic Capital Segment
Strategic Capital Segment
 $140.00M ▲$250.00M ▲$150.00M ▼$150.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Prologis shows a clear pattern of growth and solid profitability. Revenue has risen meaningfully over the past five years, and profit margins have stayed strong, suggesting good pricing power and cost control. Operating profit and cash earnings have both climbed, indicating that growth is not just top-line but also translating into healthy underlying performance. Net income has been consistently positive, with one standout year that likely reflects one-off gains, so earnings are strong but can be a bit lumpy, which is common for a REIT doing large deals and developments.

Balance Sheet

Balance Sheet The balance sheet looks robust and scaled up. Total assets have grown substantially, reflecting acquisitions, development, and expansion of the property portfolio. Shareholder equity has increased significantly as well, which is a positive sign of value built over time. Debt has also risen, but it is backed by a larger asset base and substantial equity, consistent with an investment-grade profile. Cash on hand is relatively modest, but that is typical for a large REIT that relies on steady rental income and access to capital markets.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has trended upward over the period, showing that the rental and service businesses produce reliable cash. Free cash flow is solid and has grown, even after considering development spending, giving the company flexibility to fund dividends, new projects, and acquisitions. Capital spending has come down in recent years in these figures, which may reflect timing of development outlays and the way projects are financed, but overall the cash flow profile looks resilient and supportive of future investment.

Competitive Edge

Competitive Edge Prologis holds a dominant position in global logistics real estate. Its huge, geographically diverse portfolio in supply-constrained, high-demand markets creates a powerful advantage that is hard for rivals to replicate. The company benefits from strong relationships with large, multinational tenants and offers customized, built-to-suit solutions that deepen customer loyalty. Its scale, prime locations near ports and major population centers, and reputation for execution together create a durable competitive moat, reinforced by a strong balance sheet and low cost of capital.

Innovation and R&D

Innovation and R&D Although it operates in real estate, Prologis behaves like a technology-enabled infrastructure platform. It uses data analytics, automation, and AI-driven insights to help customers run more efficient warehouses and supply chains. Through Prologis Ventures, it invests in logistics, transportation, and building-tech startups, effectively outsourcing and accelerating its “R&D.” Sustainability is a central theme: large-scale solar installations, energy-efficient buildings, and EV infrastructure differentiate its properties. The planned multibillion-dollar push into data centers, backed by significant power procurement, is a major strategic innovation that could reshape its growth profile but also introduces execution and technology-partner risks.

Summary

Overall, Prologis combines strong growth, high-quality earnings, and a fortified balance sheet with a leading competitive position in logistics real estate. The business generates dependable cash flow and has leveraged its scale into a broad ecosystem of services that go beyond traditional warehousing. The strategic move into data centers taps into powerful long-term trends in AI and cloud computing, while its sustainability initiatives align with evolving customer and regulatory demands. Key things to watch include interest rate and economic cycles, how well the company manages its higher debt levels as it grows, and its ability to execute on the ambitious data center strategy without diluting returns from its core logistics franchise.

NEWS

November 26, 2025 · 11:23 AM UTC

FIBRA Prologis announces the issuance and sale of USD$500 million of 10-Year Senior Unsecured Notes in the International Markets

Read more

November 26, 2025 · 10:57 AM UTC

FIBRA Prologis Declares Quarterly Distribution

Read more

October 28, 2025 · 5:45 PM UTC

FIBRA Prologis Announces Third Quarter 2025 Earnings Results

Read more

October 15, 2025 · 8:00 AM UTC

Prologis Reports Third Quarter 2025 Results

Read more

October 2, 2025 · 2:17 PM UTC

FIBRA Prologis Announces an Ordinary Certificate Holders Meeting

Read more