— Know what they know.
/
Not Investment Advice

PLD

NYSE · USD
Prologis, Inc.
Real Estate · REIT - Industrial
CEO Daniel S. Letter Employees 2,802 R&D / revenue 0.0%
Last price
$125.75−0.94%last session
Market cap
$119.5B
P/E (TTM)
27.7x
From 52w high
−18.0%
From 52w low
+3.8%
1-year return
+4.6%
RSI 14 · vs SMA200
34.1 · −8.8%
IS score
64.0/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

PLD   SPY   XLRE (sector ETF) · weekly closes
100110120Jan 26Apr 26Jul 26Oct 26SPY 116PLD 105XLRE 101

Score DNA

Each bar is a 0-100 score within the scored universe
56
Profitability
60
Growth
49
Value
87
Momentum
50
Risk (safety)
75
Quality
49
Balance sheet
98
Earnings quality

Flags

Strengths
None of the computed strength flags fires.
Warnings
▲ Beneish M above -1.78▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Altman Z 2.1Beta 1.322 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
2 open-market sales, $8.0M
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+62
163 new holders, 81 closed
1,733 filers hold 95.9% · 806 added, 545 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+295
1,347 funds adding shares
1,052 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
42.5%
20-day avg 40.3%, 50-day avg 45.9%
Latest 2.2 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$8.8B
Revenue growth YoY+7.2%
Gross margin59.6%
Operating income$3.5B
Operating margin40.2%
Net income$3.4B
Net margin38.8%
EPS (diluted)$3.54
Cash flow
Operating cash flow$5.0B
Capital expenditure$0
Free cash flow$5.0B
FCF conversion (FCF / OCF)100.0%
Stock-based compensation$185.5M
FCF less SBC$4.8B
Buybacks$0
Dividends$3.8B
Balance sheet & returns
Cash & short-term investments$1.1B
Total debt$35.0B
Net debt$33.9B
Shareholders' equity$57.8B
Goodwill & intangibles$0
Debt / equity0.68
ROE (TTM)8.0%
ROIC (TTM)3.4%
Operating margin by fiscal year
67.4%FY202158.0%FY202246.2%FY202353.8%FY202440.2%FY2025
Revenue $4.8B (FY2021) to $8.8B (FY2025), a 16.6% CAGR.

Valuation

P/E (TTM)27.7x
EV / EBITDA18.0x
Price / sales12.76x
Price / FCF22.8x
FCF yield4.39%
Buyback yield0.00%
SBC / revenue2.2%
Price / book2.21x
Forward P/E FY202634.2x
Forward P/E FY202736.0x
Forward P/E FY202831.8x
Forward multiples divide today's price by Street EPS estimates. Street mean target $152.67 across 6 analysts last quarter is theirs, not ours.

PLD vs industry median

52 companies in REIT - Industrial
Gross margin 21.7% 68.8% Operating margin 38.2% 43.0% Net margin 45.5% 32.4% ROIC 3.4% 5.2%
PLD (TTM)Industry median Asset turnover 0.09 vs industry 0.10 · financial leverage 1.88

Earnings delivery

Next report 2027-01-20 · consensus EPS $0.77
83%
beat rate, 10 of 12 quarters
+6.1%
median EPS surprise
10
longest beat streak
+0+0+1+71+9+3+4+3+87+30+51+106
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2024-01-17 to 2026-10-15. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
PLD Prologis, Inc. $119.5B27.7x8.0%45.5%+7.2% +4.6%
PSA Public Storage $55.7B28.4x22.0%40.6%+3.0% −1.7%
EXR Extra Space Storage Inc. $29.5B30.8x7.1%30.1%+1.5% −7.0%
EQIX Equinix, Inc. $97.3B63.2x10.8%18.2%+9.9% +22.0%
AMT American Tower Corporation $86.3B25.4x90.9%31.6%+6.7% −3.2%
WELL Welltower Inc. $169.2B121.7x3.3%6.8%+38.1% —
SPG Simon Property Group, Inc. $66.5B14.5x133.8%27.0%+15.0% —
DLR Digital Realty Trust, Inc. $65.3B81.1x3.2%23.6%+18.7% —
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.

Recent 8-K filings

No 8-K filings on file.

Context

Shares outstanding950,331,000
Free float99.7%
Institutional ownership95.9%
Beta1.32
Dividend yield3.36%
Last dividend$1.07 on 2026-09-16
50 / 200-day average$135.97 / $137.99
Large-cap Real Estate median P/E26.2x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where PLD sits among 15 scored companies in REIT - Industrial (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasurePLDIndustry medianIndustry percentileSector median
P/E (TTM) 28.4x 28.0x
60th		 24.1x
PEG (P/E ÷ 3-yr EPS CAGR) 3.07 3.07
50th		 1.55
Price / sales 13.0x 8.6x
86th		 3.7x
Price / book 2.2x 1.8x
64th		 1.3x
Price / tangible book 2.4x 2.4x
57th		 1.6x
Price / free cash flow 22.8x 18.3x
69th		 15.1x
Price / operating cash flow 22.8x 16.5x
93rd		 12.3x
Enterprise value $154.2B $10.3B
100th		 $7.5B
EV / sales 16.8x 12.6x
93rd		 9.4x
EV / EBITDA 18.5x 16.3x
69th		 15.7x
EV / EBIT 27.5x 27.2x
58th		 27.2x
EV / free cash flow 29.4x 27.4x
62nd		 29.4x
Earnings yield 3.5% 3.2%
57th		 3.2%
FCF yield 4.4% 5.3%
36th		 5.6%
Operating cash flow yield 4.4% 6.0%
7th		 7.9%
Graham number (per share) $74.46 $58.36
60th		 $22.48

Profitability (TTM)

MeasurePLDIndustry medianIndustry percentileSector median
Gross margin 21.7% 23.0%
43rd		 51.4%
EBITDA margin 90.9% 76.7%
85th		 54.9%
Operating margin 38.4% 39.6%
43rd		 29.0%
EBIT margin 61.1% 45.0%
71st		 31.7%
Net margin 45.8% 28.0%
79th		 12.2%
NOPAT margin 36.1% 36.1%
50th		 25.5%
FCF margin 57.0% 50.5%
79th		 21.8%
Operating cash flow margin 57.0% 56.6%
64th		 33.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 2.8% 7.8%
0th		 6.6%
Stock comp / revenue 2.2% 1.5%
71st		 1.2%
Effective tax rate 6.2% 3.0%
64th		 1.9%

Returns on capital

MeasurePLDIndustry medianIndustry percentileSector median
ROE (on average equity) 7.9% 7.1%
64th		 5.3%
ROA 4.2% 3.5%
57th		 1.6%
ROIC 3.7% 3.8%
43rd		 3.7%
ROCE 5.7% 5.9%
43rd		 4.4%
Return on tangible assets 5.7% 5.7%
50th		 3.8%
Cash ROIC (OCF / invested capital) 5.9% 6.2%
36th		 5.7%
Gross profitability (GP / assets) 2.6% 3.1%
29th		 5.3%
ROIC, 3-yr average 3.8% 4.0%
42nd		 2.4%
ROIC, 5-yr average 4.8% 5.0%
42nd		 2.6%
ROE, 5-yr average 7.3% 7.3%
50th		 4.4%
Incremental ROIC 2.8% -0.6%
57th		 6.5%

Growth

MeasurePLDIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 7.3% 3.0%
64th		 8.4%
Revenue growth (QoQ) 5.6% 1.2%
100th		 2.2%
Revenue CAGR, 3 yr 6.0% 6.0%
50th		 5.8%
Revenue CAGR, 5 yr 15.4% 11.1%
75th		 9.5%
Gross profit CAGR, 3 yr -23.0% -5.4%
20th		 -0.8%
Operating income CAGR, 3 yr -1.7% -1.7%
50th		 3.0%
Net income growth (TTM YoY) 22.0% 9.2%
67th		 21.3%
Net income CAGR, 3 yr 8.6% 5.0%
78th		 8.5%
EPS growth (TTM YoY) 21.8% 7.8%
67th		 17.6%
EPS CAGR, 3 yr 9.3% 2.4%
78th		 5.7%
EPS CAGR, 5 yr 16.7% 7.4%
89th		 5.6%
FCF growth (TTM YoY) 1.3% 2.3%
46th		 3.0%
FCF CAGR, 3 yr 5.8% 6.9%
44th		 5.6%
Operating cash flow CAGR, 3 yr 2.9% 11.5%
33rd		 3.7%
Book value CAGR, 3 yr 0.7% -2.0%
67th		 -2.0%
Dividend CAGR, 3 yr 2.8% 0.5%
67th		 -1.2%
Sustainable growth rate 0.6% -3.1%
80th		 -1.4%

Margin history & stability

MeasurePLDIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 59.4% 61.2%
33rd		 59.1%
Operating margin, 3-yr average 45.0% 43.8%
67th		 28.6%
Net margin, 3-yr average 40.8% 33.9%
67th		 12.3%
FCF margin, 3-yr average 58.0% 52.3%
83rd		 27.4%
Revenue stability (0-1) 0.91 0.89
58th		 0.82
Earnings stability (0-1) 0.48 0.50
42nd		 0.36
Margin stability (0-1) 0.69 0.81
42nd		 0.83

Liquidity (latest quarter)

MeasurePLDIndustry medianIndustry percentileSector median
Cash & short-term investments $1.8B $51.2M
100th		 $141.2M
Net cash (− = net debt) −$34.7B −$3.4B
0th		 −$3.3B
Working capital −$764.6M −$216.8M
14th		 $19.5M
Current ratio 0.70 0.69
57th		 1.02
Quick ratio 0.70 0.69
57th		 1.02
Cash ratio (cash + ST investments / current liabilities) 0.70 0.34
71st		 0.36
Defensive interval (days) —

Leverage & solvency (latest quarter)

MeasurePLDIndustry medianIndustry percentileSector median
Total debt $36.4B $3.5B
100th		 $3.5B
Debt / equity 0.68 0.96
29th		 1.33
Net debt / equity 0.65 0.94
29th		 1.26
Debt / assets 36.1% 44.5%
29th		 51.3%
Debt / capital 40.4% 48.9%
29th		 57.1%
Debt / EBITDA 4.36 4.73
38th		 6.47
Net debt / EBITDA 4.15 4.57
38th		 6.15
Interest coverage (EBIT / interest) 5.4x 2.7x
71st		 1.5x
Cash interest coverage 5.0x 4.7x
64th		 2.1x
Debt payback (years of OCF) 7.0 yrs 7.0 yrs
50th		 8.9 yrs
Liabilities / assets 42.5% 50.4%
29th		 60.0%
IS credit model rating BBB- — —
Implied credit spread (bps) 350 550
36th		 650

Efficiency

MeasurePLDIndustry medianIndustry percentileSector median
Asset turnover 0.09 0.12
21st		 0.12
Fixed asset turnover 0.11 0.42
17th		 0.90
Inventory turnover —
Receivables turnover —
Days sales outstanding 0 days 52 days
0th		 37 days
Days inventory outstanding —
Days payables outstanding 71 days 71 days
50th		 53 days
Cash conversion cycle (days) −71 days −24 days
29th		 −6 days
Capex / revenue 0.0% 4.7%
0th		 4.4%
Capex / depreciation 0.00 0.17
0th		 0.32
Operating expense ratio —

Cash flow & earnings quality

MeasurePLDIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.25 1.66
10th		 1.83
FCF / net income 1.25 1.56
30th		 1.43
FCF / operating cash flow 100.0% 91.3%
85th		 82.5%
Capex / operating cash flow 0.0% 8.7%
0th		 17.9%
Accruals ratio -1.0% -3.4%
93rd		 -3.1%
Sloan accruals ratio -2.7% -3.5%
57th		 -3.3%
Earnings quality score (0-1) 1.00 1.00
20th		 1.00

Dividends & buybacks

MeasurePLDIndustry medianIndustry percentileSector median
Dividend yield 3.4% 4.5%
21st		 5.2%
Dividend per share (TTM) $4.22 $2.12
71st		 $1.21
Payout ratio (dividends / net income) 92.9% 141.1%
20th		 110.2%
Dividends / FCF 74.6% 85.8%
23rd		 79.1%
Dividend growth (YoY) 6.5% 7.6%
43rd		 2.3%
Buyback yield 0.1% 0.1%
57th		 0.1%
Shareholder yield (dividends + buybacks) 3.4% 5.1%
21st		 5.9%
Share count change (YoY) 0.2% 0.5%
36th		 0.5%
Buybacks, last 5 years $254.6M $51.6M
79th		 $15.9M

Scores & forensic checks

MeasurePLDIndustry medianIndustry percentileSector median
IS score 64 51
71st		 43
IS profitability 56 64
43rd		 44
IS growth 60 52
57th		 58
IS value 49 49
43rd		 53
IS momentum 87 70
79th		 77
IS risk (safety) 50 30
71st		 15
IS quality 75 71
64th		 59
IS balance sheet 49 38
71st		 35
IS earnings quality 98 75
100th		 72
IS cash flow 74 73
71st		 61
Piotroski F-score (0-9) 6 5
64th		 6
Altman Z-score 2.1 1.3
71st		 0.8
Beneish M-score −0.83 −2.73
79th		 −2.71
Ohlson O-score −9.33 −7.82
7th		 −6.91
IS credit score 55 38
64th		 34

Per share

MeasurePLDIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $4.39 $1.46
79th		 $0.78
Book value per share $56.09 $33.70
79th		 $15.91
Tangible book per share $61.56 $27.95
79th		 $16.11
Revenue per share $9.59 $6.88
71st		 $6.28
FCF per share $5.47 $2.46
71st		 $1.49
Operating cash flow per share $5.47 $3.38
71st		 $1.95
Cash per share $1.84 $0.48
79th		 $0.95

Size (TTM)

MeasurePLDIndustry medianIndustry percentileSector median
Market cap $119.5B $7.6B
100th		 $2.5B
Revenue $9.2B $880.6M
100th		 $956.7M
EBITDA $8.4B $557.8M
100th		 $399.5M
Net income $4.2B $247.0M
100th		 $109.6M
Free cash flow $5.2B $244.0M
100th		 $157.8M
Total assets $101.0B $6.6B
100th		 $6.6B
Shareholders' equity $53.7B $3.6B
100th		 $1.8B
Employees 2,802 628
62nd		 307

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Bita Cristina Gabriela
Director
 Award / grant 69——8,395
2026-09-30Bita Cristina Gabriela
Director
 Award / grant 43——5,255
2026-09-30Bita Cristina Gabriela
Director
 Award / grant 231——5,486
2026-09-30Metcalfe Guy A
Director
 Award / grant 52——6,378
2026-09-30Metcalfe Guy A
Director
 Award / grant 4——452
2026-09-30Metcalfe Guy A
Director
 Award / grant 231——683
2026-09-30Oconnor David P
Director
 Award / grant 233——28,464
2026-09-30Fotiades George L
Director
 Award / grant 195——23,801
2026-09-30Fotiades George L
Director
 Award / grant 382——46,685
2026-09-30Fotiades George L
Director
 Award / grant 128——15,677
2026-09-30Fotiades George L
Director
 Award / grant 243——29,694
2026-09-30Kennard Lydia H
Director
 Award / grant 52——6,378

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired4881,731—
ConversionAcquired143,825$6.2M
Open-market saleDisposed253,597$8.0M
Option exerciseDisposed9106,273—
Option exerciseAcquired610,454—
Tax withholdingDisposed1595$84,210
—Disposed20—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

FiledFilerShares proposedEst. proceeds
None on file.
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 15 trades (3 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-11Ro KhannaHouseSale$15,001 - $50,0002026-10-09
2026-03-20Kevin HernHouseSale$50,001 - $100,0002026-04-06
2026-03-20Kevin HernHouseSale (Full)$50,001 - $100,0002026-04-06
2025-08-01Shelley Moore CapitoSenatePurchase$1,001 - $15,0002025-09-03
2025-08-01Shelley Moore CapitoSenatePurchase$1,001 - $15,0002025-09-03
2025-08-01Shelley Moore CapitoSenatePurchase$1,001 - $15,0002025-09-03
2025-08-01Shelley Moore CapitoSenatePurchase$1,001 - $15,0002025-09-02
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.103,392,538$14.0B10.88%
VANGUARD CAPITAL MANAGEMENT LLC60,904,443$8.3B6.41%
STATE STREET CORP55,915,113$7.6B5.88%
VANGUARD PORTFOLIO MANAGEMENT LLC55,255,790$7.5B5.81%
GEODE CAPITAL MANAGEMENT, LLC23,889,351$3.2B2.51%
COHEN & STEERS, INC.22,841,902$3.1B2.40%
APG Asset Management US Inc.19,286,830$2.6B2.03%
FMR LLC17,258,306$2.3B1.82%
Capital Research Global Investors15,915,752$2.2B1.67%
JPMORGAN CHASE & CO14,993,017$2.1B1.58%
NORGES BANK12,518,679$1.7B1.32%
DIMENSIONAL FUND ADVISORS LP11,540,071$1.6B1.21%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/11,217,207$1.5B1.18%
Legal & General Group Plc10,880,378$1.5B1.14%
FRANKLIN RESOURCES INC10,649,160$1.4B1.12%

Institutional ownership by quarter

2023-092026-0695.9%
% of shares held by 13F filers
2023-092026-061,733
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,73395.9%16380654581
2026-03-311,67193.5%167729563106
2025-12-311,63893.5%25072047377
2025-09-301,50192.5%144687484103
2025-06-301,48994.0%133602586129
2025-03-311,51093.0%166666507107
2024-12-311,47492.5%180530601170
2024-09-301,49892.2%15863950590
2024-06-301,44591.5%137614533153
2024-03-311,48492.3%136638499109
2023-12-311,47492.6%22450358199
2023-09-301,37491.6%9557849489

Schedule 13D / 13G filers

FiledFormFiler% of classShares
None on file.
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VNQ6.86%$4.6B
VGSNX6.86%$4.6B
VGSLX6.86%$4.6B
VITSX0.17%$3.9B
VTSAX0.17%$3.9B
VTI0.17%$3.9B

Share structure

Shares outstanding950,331,000
Float947,949,471
Free float99.7%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$4.8B$6.0B$8.0B$8.2B$8.8B
Cost of revenue$1.2B$1.5B$2.0B$2.1B$3.6B
Gross profit$3.5B$4.5B$6.0B$6.1B$5.2B
R&D$0$0$0$0$0
SG&A$293.2M$331.1M$390.4M$418.8M$477.8M
Operating income$3.2B$3.5B$3.7B$4.4B$3.5B
EBITDA$5.2B$5.8B$6.6B$7.5B$7.2B
Pretax income$3.3B$3.7B$3.5B$4.1B$3.8B
Income tax$174.3M$135.4M$211.0M$166.9M$204.0M
Net income$2.9B$3.4B$3.1B$3.7B$3.4B
EPS, diluted$3.84$4.13$3.29$4.01$3.54
Diluted shares785.7M834.8M951.8M953.6M958.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$556.1M$278.5M$530.4M$1.3B$1.1B
Receivables$593.2M$637.9M$554.3M$624.5M$0
Inventory$0$0$0$0$0
Total current assets$2.0B$1.7B$1.8B$2.4B$1.3B
PP&E, net$577.4M$855.3M$891.7M$920.1M$80.4B
Goodwill & intangibles$552.5M$1.2B$1.0B$764.5M$0
Total assets$58.5B$87.9B$93.0B$95.3B$98.7B
Accounts payable$1.3B$1.7B$1.8B$1.8B$0
Total current liabilities$2.0B$3.7B$3.3B$2.6B$5.9B
Long-term debt$17.2B$22.3B$28.0B$30.7B$35.0B
Total liabilities$20.7B$30.0B$35.2B$36.7B$41.0B
Shareholders' equity$37.7B$57.9B$57.8B$58.6B$57.8B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$3.1B$3.6B$3.1B$3.9B$3.4B
Depreciation & amortization$1.6B$1.8B$2.5B$2.6B$2.6B
Stock-based compensation$113.0M$175.4M$267.6M$231.7M$185.5M
Change in working capital−$165.9M−$26.2M$70.1M−$126.5M$0
Operating cash flow$3.0B$4.1B$5.4B$4.9B$5.0B
Capital expenditure−$499.0M−$550.6M$0$0$0
Free cash flow$2.5B$3.6B$5.4B$4.9B$5.0B
Investing cash flow−$2.0B−$4.5B−$6.4B−$3.1B−$3.6B
Net debt issued / repaid$1.4B$3.0B$4.9B$2.9B$0
Buybacks$0−$27.7M−$24.5M−$30.5M$0
Dividends paid−$1.9B−$2.5B−$3.2B−$3.6B−$3.8B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin73.8%74.7%74.9%74.9%59.6%
Operating margin67.4%58.0%46.2%53.8%40.2%
Net margin61.8%56.3%38.1%45.5%37.9%
FCF margin57.3%62.7%58.3%55.7%57.0%
ROE9.0%7.8%5.7%7.0%6.2%
ROIC6.0%4.3%4.2%5.0%3.8%
ROA5.1%4.6%3.4%4.0%3.4%
Debt / equity0.540.460.560.580.66
Interest coverage13.4x13.6x6.4x5.9x4.6x
Current ratio0.970.460.550.920.23
Revenue growth+7.2%+25.5%+34.3%+2.2%+7.2%
EPS growth+95.7%−7.6%−9.6%+21.8%−11.2%
P/E at year end38.8x28.9x38.8x26.1x36.7x
EV / EBITDA at year end25.6x20.9x22.5x16.9x21.7x
FCF yield at year end2.39%3.86%3.94%4.70%4.10%
Dividend payout63.7%76.4%105.5%95.7%113.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Real Estate Operations Segment$4.1B$4.9B$6.8B$7.5B$8.2B
Strategic Capital Segment$590.8M$1.0B$1.2B$671.9M$592.4M

Revenue by region · FY2025

Real Estate Operations Segment$7.8B · 97%
Strategic Capital Segment$218.8M · 3%

Street estimates by fiscal year

Next report 2027-01-20 · consensus EPS $0.77 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$8.6B$8.5B – $8.7B$3.68$3.65 – $3.69234.2x
2027$9.5B$9.4B – $9.6B$3.49$3.42 – $3.53236.0x
2028$10.3B$10.0B – $10.5B$3.95$3.26 – $4.64231.8x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-10-15$0.78$1.60+105.9%$2.2B$2.4B+9.7%
2026-07-16$0.75$1.13+51.3%$2.2B$2.2B+0.7%
2026-04-16$0.81$1.05+30.3%$2.1B$2.1B+0.2%
2026-01-21$0.77$1.44+87.0%$2.1B$2.1B+0.1%
2025-10-15$1.44$1.49+3.5%$2.1B$2.2B+6.1%
2025-07-16$1.41$1.46+3.5%$2.0B$2.2B+7.5%
2025-04-16$1.38$1.42+2.9%$2.0B$2.1B+6.3%
2025-01-21$1.38$1.50+8.7%$2.0B$2.2B+10.5%
2024-10-16$0.63$1.08+71.4%$1.9B$2.0B+4.6%
2024-07-17$1.33$1.34+0.8%$1.9B$2.0B+7.1%
2024-04-17$1.28$1.280.0%$1.9B$2.0B+4.9%
2024-01-17$1.26$1.260.0%$1.8B$1.9B+4.6%
2023-10-17$1.26$1.30+3.2%$1.7B$1.9B+10.1%
2023-07-18$1.00$1.31+31.0%$1.7B$2.5B+45.0%
2023-04-18$1.21$1.22+0.8%$1.6B$1.8B+8.9%
2023-01-18$1.21$1.24+2.5%$1.4B$1.8B+23.4%
2022-10-19$1.22$1.36+11.5%$1.2B$1.8B+52.2%
2022-07-18$0.62$0.82+32.3%$1.1B$1.3B+13.2%
2022-04-19$1.08$1.09+0.9%$1.1B$1.2B+12.4%
2022-01-19$1.10$1.12+1.8%$1.1B$1.3B+15.7%
2021-10-15$0.52$0.97+86.5%$1.0B$1.2B+14.6%
2021-07-19$0.44$0.81+84.1%$1.0B$1.2B+12.3%
2021-04-19$0.94$0.97+3.2%$1.0B$1.1B+13.9%
2021-01-26$0.92$0.95+3.3%$1.0B$1.1B+5.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.706-220.506-290.607-060.907-131.307-200.807-271.508-030.508-100.508-170.408-240.508-31
Week ofNotionalSharesTrades
2026-08-31$478.7M3,466,55671,632
2026-08-24$444.7M3,120,94266,322
2026-08-17$480.2M3,411,56178,230
2026-08-10$509.8M3,647,34074,949
2026-08-03$1.5B11,032,554154,450
2026-07-27$767.5M5,251,05880,549

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1542.5%
DateShort shareShort volumeTotal volume
2026-10-1542.5%1,200,9632,823,011
2026-10-1462.7%1,308,1762,087,477
2026-10-1353.4%787,3931,475,853
2026-10-1250.2%552,0051,098,569
2026-10-0946.1%526,0111,140,420
2026-10-0852.5%751,3711,431,020
2026-10-0736.0%471,7191,310,848
2026-10-0637.7%494,6081,312,668
2026-10-0535.9%353,564984,192
2026-10-0238.4%513,9031,337,500
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.4Jan-1.5Feb+4.1Mar+2.4Apr-1.1May-0.8Jun+3.5Jul-0.7Aug-0.4Sep+2.1Oct+0.9Nov+5.3Dec
MonthAvg returnUp yearsYears
Jan+1.4%65%20
Feb−1.5%40%20
Mar+4.1%76%21
Apr+2.4%65%20
May−1.1%50%20
Jun−0.8%50%20
Jul+3.5%75%20
Aug−0.7%60%20
Sep−0.4%55%20
Oct+2.1%65%20
Nov+0.9%70%20
Dec+5.3%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1434.1
MFI36.8
ADX32.6
Stochastic %K / %D18.3 / 38.9
Williams %R-92.4
CCI-122
TSI / signal-23.6 / -25.7
Chaikin money flow-0.24
ATR$2.85
Bollinger width9.0%
Volume vs 20-day avg1.11x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$130.82 (−3.9%)
SMA 50$135.49 (−7.2%)
SMA 200$137.81 (−8.8%)
EMA 21$130.93 (−4.0%)
EMA 50$134.41 (−6.4%)
EMA 200$134.90 (−6.8%)
Bollinger upper$136.69 (−8.0%)
Bollinger lower$124.96 (+0.6%)
Parabolic SAR$136.11 (−7.6%)
Open the live chart, 110+ indicators

About Prologis, Inc.

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 one–not just shaping the future of logistics but building what comes next. Prologis, Inc. was established in 1983 and is incorporated in Maryland.

https://www.prologis.com

Key executives

NameTitlePayBorn
Daniel LetterCEO & Director$2.7M1978
Timothy D. ArndtChief Financial Officer$2.1M1974
Carter AndrusChief Operating Officer$1.7M1980
Hamid R. MoghadamCo-Founder & Executive Chairman$1.6M1957
Deborah K. BrionesChief Legal Officer & General Counsel$1.3M1972
Jane WuChina Board Chairperson——
Justin MengSenior Vice President & Head of Investor Relations——
Nathaalie CareyChief Administrative Officer & Chief Human Resources Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Hamid Moghadam Executive Chairman2025$1$23.4M$0$25.0M
Daniel Letter Chief Executive Officer2025$795,385$12.5M$0$15.2M
Timothy Arndt Chief Financial Officer2025$697,692$7.2M$0$9.3M
Carter Andrus Chief Operating Officer2025$600,000$5.0M$0$6.7M
Joseph Ghazal Former Chief Investment Officer2025$600,000$5.0M$0$6.4M
Deborah Briones Chief Legal Officer and General Counsel2025$495,385$3.7M$0$5.0M

Employees

2k20182k20192k20202k20212k20223k20233k20243k2025

Dividends

Ex-dateAmountPaid
2026-09-16$1.072026-09-30
2026-06-16$1.072026-06-30
2026-03-17$1.072026-03-31
2025-12-16$1.012025-12-31
2025-09-16$1.012025-09-30
2025-06-17$1.012025-06-30
2025-03-18$1.012025-03-31
2024-12-16$0.962024-12-31

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage46
Intangibles14
Switching costs43
Network effect50
Efficient scale75
Our component scores (0-100) and overall 42.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms