Free Trial
→ Alex’s “Next Magnificent Seven” stocks (From The Oxford Club) (Ad) Free PLD Stock Alerts

Prologis (PLD) Financials

Prologis logo
$105.75 -0.54 (-0.51%)
Closing price 08/8/2025 03:59 PM Eastern
Extended Trading
$105.89 +0.14 (+0.13%)
As of 08/8/2025 07:10 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Compare
Annual Income Statements for Prologis

Annual Income Statements for Prologis

This table shows Prologis' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 622 863 1,203 1,642 1,643 1,567 1,473 2,934 3,359 3,053 3,726
Consolidated Net Income / (Loss)		 739 926 1,293 1,761 1,823 1,702 1,617 3,149 3,555 3,253 3,948
Net Income / (Loss) Continuing Operations		 739 926 1,293 1,761 1,823 1,702 1,617 3,149 3,555 3,253 3,948
Total Pre-Tax Income 		714 949 1,347 1,816 1,886 1,776 1,747 3,323 3,691 3,464 4,115
Total Operating Income		 320 380 668 1,954 1,688 1,850 2,119 3,207 3,468 3,708 4,416
Total Gross Profit		 1,330 1,653 1,964 2,049 2,204 2,596 3,487 3,718 4,768 6,399 6,436
Total Revenue		 1,761 2,197 2,533 2,618 2,804 3,331 4,439 4,759 5,974 8,023 8,202
Operating Revenue		 1,761 2,197 2,533 2,618 2,804 3,331 4,439 4,759 5,974 8,023 8,202
Total Cost of Revenue		 430 544 569 570 601 734 952 1,041 1,206 1,625 1,765
Operating Cost of Revenue		 430 544 569 570 601 734 952 1,041 1,206 1,625 1,765
Total Operating Expenses		 1,011 1,273 1,296 95 516 747 1,368 511 1,300 2,691 2,020
Selling, General & Admin Expense		 253 284 236 243 253 280 305 316 371 444 466
Depreciation Expense		 642 880 931 879 947 1,140 1,562 1,578 1,813 2,485 2,581
Other Operating Expenses / (Income)		 115 108 129 -700 -214 -206 -34 -565 -286 225 -612
Other Special Charges / (Income)		 - - - -328 -470 -468 -465 -817 -598 -462 -414
Total Other Income / (Expense), net		 394 568 679 -138 198 -73 -372 116 223 -244 -301
Interest Expense		 474 388 301 343 232 256 503 454 329 638 863
Interest & Investment Income		 134 159 206 249 298 200 297 404 311 307 354
Other Income / (Expense), net		 734 797 773 -44 132 -18 -166 165 242 87 209
Income Tax Expense		 -26 23 55 55 63 75 130 174 135 211 167
Preferred Stock Dividends Declared		 14 6.65 6.71 10 5.94 6.01 8.69 6.15 6.06 5.84 5.88
Net Income / (Loss) Attributable to Noncontrolling Interest		 103 56 83 109 174 129 135 209 191 194 216
Basic Earnings per Share		 $1.25 $1.66 $2.29 $3.10 $2.90 $2.48 $2.02 $3.97 $4.28 $3.30 $4.02
Weighted Average Basic Shares Outstanding		 499.58M 521.24M 526.10M 530.40M 567.37M 630.58M 728.32M 739.36M 785.68M 924.35M 926.17M
Diluted Earnings per Share		 $1.24 $1.64 $2.27 $3.06 $2.87 $2.46 $2.01 $3.94 $4.25 $3.29 $4.01
Weighted Average Diluted Shares Outstanding		 506.39M 533.94M 546.67M 552.30M 590.24M 654.90M 754.41M 764.76M 811.61M 951.79M 953.59M
Weighted Average Basic & Diluted Shares Outstanding		 512.14M 524.77M 529.35M 533.05M 630.35M 738.74M 739.50M 740M 923.43M 924.88M 926.86M

Quarterly Income Statements for Prologis

This table shows Prologis' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 586 463 1,215 746 629 584 860 1,004 1,277 592 570
Consolidated Net Income / (Loss)		 620 499 1,279 799 676 631 912 1,063 1,342 640 622
Net Income / (Loss) Continuing Operations		 620 499 1,279 799 676 631 912 1,063 1,342 640 622
Total Pre-Tax Income 		638 531 1,359 840 734 664 955 1,068 1,429 683 646
Total Operating Income		 813 579 1,412 882 835 720 1,023 1,251 1,421 878 913
Total Gross Profit		 1,377 1,356 2,063 1,499 1,481 1,502 1,563 1,609 1,762 1,651 1,696
Total Revenue		 1,752 1,769 2,451 1,915 1,889 1,957 2,008 2,036 2,201 2,140 2,184
Operating Revenue		 1,752 1,769 2,451 1,915 1,889 1,957 2,007 2,036 2,201 2,140 2,172
Other Revenue		 - - - - - - 0.84 - - - 11
Total Cost of Revenue		 375 413 388 416 408 454 445 427 438 488 488
Operating Cost of Revenue		 375 413 388 416 408 454 445 427 438 488 488
Total Operating Expenses		 563 777 651 616 646 782 539 358 341 773 783
Selling, General & Admin Expense		 98 107 108 109 120 124 118 114 110 124 119
Depreciation Expense		 612 602 602 642 638 638 637 649 656 652 657
Other Operating Expenses / (Income)		 60 72 126 -46 72 61 -129 -373 -189 24 18
Other Special Charges / (Income)		 -207 -4.05 -185 -89 -184 -40 -87 -32 -237 -27 -10
Total Other Income / (Expense), net		 -176 -48 -53 -42 -100 -57 -69 -183 7.79 -196 -267
Interest Expense		 122 133 150 181 174 193 208 230 232 232 252
Interest & Investment Income		 69 76 71 71 89 72 102 85 94 68 108
Other Income / (Expense), net		 -123 8.61 26 68 -15 64 37 -38 146 -32 -123
Income Tax Expense		 18 32 79 41 58 33 43 4.21 87 43 23
Preferred Stock Dividends Declared		 1.46 1.45 1.48 1.45 1.46 1.45 1.50 1.45 1.47 1.45 1.51
Net Income / (Loss) Attributable to Noncontrolling Interest		 33 34 63 52 45 45 50 58 63 47 51
Basic Earnings per Share		 $0.54 $0.50 $1.31 $0.81 $0.68 $0.63 $0.93 $1.08 $1.38 $0.64 $0.61
Weighted Average Basic Shares Outstanding		 785.68M 923.89M 924.19M 924.40M 924.35M 925.32M 926.28M 926.43M 926.17M 927.34M 928.48M
Diluted Earnings per Share		 $0.53 $0.50 $1.31 $0.80 $0.68 $0.63 $0.92 $1.08 $1.38 $0.63 $0.61
Weighted Average Diluted Shares Outstanding		 811.61M 951.62M 951.71M 951.91M 951.79M 953.91M 953.20M 953.81M 953.59M 956.08M 955.88M
Weighted Average Basic & Diluted Shares Outstanding		 923.43M 923.47M 923.86M 923.97M 924.88M 925.84M 925.91M 926.18M 926.86M 927.93M 928.06M
Cash Dividends to Common per Share		 - $0.87 $0.87 $0.87 - $0.96 $0.96 $0.96 - $1.01 $1.01

Annual Cash Flow Statements for Prologis

This table details how cash moves in and out of Prologis' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -431 4,611 543 -360 -103 745 -491 -194 -278 252 788
Net Cash From Operating Activities		 -27 105 1,417 1,687 1,804 2,264 2,937 2,996 4,126 5,373 4,912
Net Cash From Continuing Operating Activities		 894 1,116 1,417 1,687 1,804 2,264 2,937 2,996 4,126 5,373 4,912
Net Income / (Loss) Continuing Operations		 0.00 0.00 1,293 1,761 1,823 1,702 1,617 3,149 3,555 3,253 3,948
Consolidated Net Income / (Loss)		 - - 1,293 1,761 1,823 1,702 1,617 3,149 3,555 3,253 3,948
Depreciation Expense		 642 880 931 879 947 1,140 1,562 1,578 1,813 2,485 2,581
Amortization Expense		 -14 -60 -109 82 -54 -81 -118 -140 -244 -538 -566
Non-Cash Adjustments To Reconcile Net Income		 -568 -716 -612 1,673 -871 -516 -90 -1,441 -1,048 3.28 -925
Changes in Operating Assets and Liabilities, net		 -87 - -85 30 -41 19 -33 -150 50 170 -126
Net Cash From Investing Activities		 -53 910 1,252 543 -664 -685 -3,074 -1,990 -4,499 -6,419 -3,099
Net Cash From Continuing Investing Activities		 -665 -4,789 1,252 543 -664 -685 -3,074 -1,990 -4,499 -6,419 -3,099
Purchase of Property, Plant & Equipment		 -79 -83 -560 264 -999 -1,006 -1,239 -2,320 -2,492 -4,196 -2,328
Acquisitions		 -590 0.00 0.00 375 -46 0.00 -1,695 0.00 -92 -33 0.00
Purchase of Investments		 -775 -475 -266 2,304 -12 -30 -9.03 -17 -3.46 -2.23 -3.00
Sale of Property, Plant & Equipment		 2,285 2,795 2,826 - 2,310 2,332 2,282 4,222 2,064 1,764 3,790
Sale and/or Maturity of Investments		 304 168 1,059 3,485 424 413 264 62 136 422 74
Other Investing Activities, net		 -1,198 -1,494 -1,807 0.00 -2,341 -2,394 -2,677 -3,937 -4,111 -4,375 -4,633
Net Cash From Financing Activities		 -351 3,596 -2,125 -2,607 -1,232 -840 -372 -1,008 116 1,320 -1,000
Net Cash From Continuing Financing Activities		 -351 3,596 -2,125 -2,607 -1,232 -840 -372 -1,161 116 1,320 -1,002
Repayment of Debt		 -4,923 -3,164 -2,302 3,579 -4,841 -3,174 -6,793 -2,237 -1,087 -839 -1,650
Repurchase of Preferred Equity		 -28 0.00 0.00 13 0.00 0.00 -7.20 0.00 0.00 0.00 0.00
Repurchase of Common Equity		 -26 -35 -23 0.00 -93 -127 -206 -330 -135 -128 -34
Payment of Dividends		 -988 -1,020 -1,237 1,151 -1,348 -1,510 -2,085 -2,248 -2,765 -3,464 -3,866
Issuance of Debt		 4,780 5,382 1,403 2,703 4,900 3,977 7,825 3,598 4,116 5,755 4,506
Issuance of Common Equity		 847 2,446 42 33 177 18 919 75 13 21 73
Other Financing Activities, net		 -13 -12 -8.57 1,082 -27 -22 -25 -19 -28 -25 -31
Effect of Exchange Rate Changes		 - - -0.34 16 -11 5.91 19 -40 -21 -22 -25

Quarterly Cash Flow Statements for Prologis

This table details how cash moves in and out of Prologis' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -358 244 -58 206 -141 -30 98 183 538 -647 395
Net Cash From Operating Activities		 1,278 1,114 1,215 1,969 1,074 1,055 1,086 1,435 1,335 1,161 1,242
Net Cash From Continuing Operating Activities		 1,278 1,114 1,215 1,969 1,074 1,055 1,086 1,435 1,335 1,161 1,242
Net Income / (Loss) Continuing Operations		 620 499 1,279 799 676 631 912 1,063 1,342 640 622
Consolidated Net Income / (Loss)		 620 499 1,279 799 676 631 912 1,063 1,342 640 622
Depreciation Expense		 612 602 602 642 638 638 637 649 656 652 657
Amortization Expense		 -143 -126 -131 -154 -127 -141 -124 -147 -154 -160 -166
Non-Cash Adjustments To Reconcile Net Income		 415 176 -764 561 31 73 -231 -233 -534 132 158
Changes in Operating Assets and Liabilities, net		 -226 -37 229 121 -143 -145 -107 101 25 -103 -30
Net Cash From Investing Activities		 -1,288 -1,049 -3,464 -699 -1,207 -1,084 -624 -1,711 320 -1,551 -1,035
Net Cash From Continuing Investing Activities		 -1,288 -1,049 -3,464 -699 -1,207 -1,084 -624 -1,711 320 -1,551 -1,035
Purchase of Property, Plant & Equipment		 -260 -52 -3,397 -200 -547 -126 -399 -1,295 -507 -780 -374
Sale of Property, Plant & Equipment		 342 55 720 536 454 200 851 738 2,001 157 99
Sale and/or Maturity of Investments		 33 26 283 26 86 12 18 37 7.50 33 31
Other Investing Activities, net		 -1,307 -1,075 -1,051 -1,055 -1,194 -1,169 -1,093 -1,191 -1,180 -961 -781
Net Cash From Financing Activities		 -372 172 2,280 -1,048 -84 2.39 -356 445 -1,092 -276 182
Net Cash From Continuing Financing Activities		 -372 172 2,213 -1,051 -14 2.39 -356 445 -1,093 -276 182
Repayment of Debt		 -260 -1,429 242 -412 759 -860 -528 136 -398 228 -38
Repurchase of Common Equity		 -50 -60 -124 -13 69 -13 -7.42 -9.22 -4.30 -6.65 -37
Payment of Dividends		 -782 -865 -867 -866 -866 -962 -984 -959 -961 -1,015 -1,015
Issuance of Debt		 722 2,545 2,960 242 8.12 1,858 1,159 1,267 222 520 1,258
Issuance of Common Equity		 1.37 0.00 1.70 0.06 19 1.27 4.76 15 52 13 13
Other Financing Activities, net		 -2.26 -19 0.21 -1.34 -4.72 -22 -0.21 -4.97 -3.63 -15 0.00
Effect of Exchange Rate Changes		 24 6.47 -22 -13 6.39 -3.58 -9.06 14 -26 18 6.27

Annual Balance Sheets for Prologis

This table presents Prologis' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 25,818 31,395 30,250 29,481 38,418 40,032 56,065 58,486 87,897 93,021 95,329
Total Current Assets		 395 878 1,162 823 344 1,089 598 556 278 530 1,319
Cash & Equivalents		 351 264 807 447 344 1,089 598 556 278 530 1,319
Plant, Property, & Equipment, net		 19,399 24,247 -3,758 -4,059 -4,657 -5,438 43,845 45,337 72,587 77,735 78,488
Plant, Property & Equipment, gross		 22,190 27,521 - - - - 50,384 53,005 81,623 88,667 91,246
Accumulated Depreciation		 2,791 3,274 3,758 4,059 4,657 5,438 6,539 7,668 9,036 10,931 12,758
Total Noncurrent Assets		 6,024 6,270 32,847 32,717 42,730 44,381 11,622 12,593 15,032 14,755 15,522
Long-Term Investments		 4,825 4,756 4,230 5,496 5,745 6,237 7,602 8,611 9,699 9,544 10,079
Other Noncurrent Operating Assets		 1,200 1,515 28,616 27,221 36,363 37,423 2,949 3,312 4,801 4,750 5,194
Other Noncurrent Nonoperating Assets		 - - - - 622 721 1,071 670 531 462 249
Total Liabilities & Shareholders' Equity		 25,818 31,395 30,250 29,481 38,418 40,032 56,065 58,486 87,897 93,021 95,329
Total Liabilities		 10,635 12,974 11,792 10,775 12,617 13,960 19,740 20,744 30,034 35,197 36,712
Total Current Liabilities		 628 713 556 703 761 0.00 1,143 1,253 1,712 1,766 1,769
Accounts Payable		 628 713 556 703 761 - 1,143 1,253 1,712 1,766 1,769
Total Noncurrent Liabilities		 10,007 12,261 11,236 10,073 11,856 13,960 18,597 19,491 28,322 33,431 34,943
Long-Term Debt		 9,380 11,627 10,608 9,413 11,090 11,906 16,849 17,715 23,876 29,001 30,879
Other Noncurrent Operating Liabilities		 626 634 627 660 766 2,054 1,748 1,776 4,447 4,431 4,064
Total Equity & Noncontrolling Interests		 15,184 18,421 18,458 18,706 25,801 26,072 36,325 37,742 57,863 57,824 58,617
Total Preferred & Common Equity		 13,976 14,668 14,991 15,631 22,298 22,653 31,972 33,427 53,237 53,182 53,951
Preferred Stock		 78 78 78 69 69 69 64 64 64 64 64
Total Common Equity		 13,892 14,584 14,908 15,557 22,229 22,578 31,900 33,356 53,164 53,109 53,878
Common Stock		 18,467 19,302 19,455 19,363 25,692 25,719 35,489 35,562 54,065 54,250 54,464
Retained Earnings		 -3,974 -3,926 -3,610 -2,904 -2,378 -2,151 -2,395 -1,328 -458 -627 -466
Accumulated Other Comprehensive Income / (Loss)		 -600 -791 -937 -902 -1,085 -990 -1,194 -878 -444 -514 -120
Noncontrolling Interest		 1,208 3,753 3,467 3,075 3,503 3,419 4,353 4,315 4,626 4,642 4,666

Quarterly Balance Sheets for Prologis

This table presents Prologis' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 87,897 88,521 92,392 91,949 93,021 93,310 93,537 95,905 95,329 95,993 97,717
Total Current Assets		 278 523 531 741 530 501 598 781 1,319 671 1,066
Cash & Equivalents		 278 523 531 741 530 501 598 781 1,319 671 1,066
Plant, Property, & Equipment, net		 72,587 72,877 76,573 76,582 77,735 77,997 77,865 79,761 78,488 79,451 80,505
Plant, Property & Equipment, gross		 81,623 82,386 86,550 87,022 88,667 89,428 89,734 92,094 91,246 92,741 94,333
Accumulated Depreciation		 9,036 9,508 9,977 10,439 10,931 11,431 11,869 12,333 12,758 13,291 13,827
Total Noncurrent Assets		 15,032 15,121 15,288 14,626 14,755 14,813 15,074 15,364 15,522 15,872 16,146
Long-Term Investments		 9,699 9,680 9,931 9,092 9,544 9,691 9,765 10,093 10,079 10,287 10,618
Other Noncurrent Operating Assets		 4,801 4,707 4,740 4,737 4,750 4,739 4,794 4,945 5,194 5,039 5,274
Other Noncurrent Nonoperating Assets		 531 734 617 798 462 383 516 326 249 546 253
Total Liabilities & Shareholders' Equity		 87,897 88,521 92,392 91,949 93,021 93,310 93,537 95,905 95,329 95,993 97,717
Total Liabilities		 30,034 31,056 34,314 33,689 35,197 35,513 35,614 38,241 36,712 37,918 40,410
Total Current Liabilities		 1,712 1,508 1,582 1,721 1,766 1,752 1,648 1,808 1,769 1,620 1,628
Accounts Payable		 1,712 1,508 1,582 1,721 1,766 1,752 1,648 1,808 1,769 1,620 1,628
Total Noncurrent Liabilities		 28,322 29,548 32,732 31,967 33,431 33,761 33,966 36,433 34,943 36,298 38,782
Long-Term Debt		 23,876 25,153 28,129 27,578 29,001 29,558 29,905 32,290 30,879 32,262 34,667
Other Noncurrent Operating Liabilities		 4,447 4,395 4,603 4,389 4,431 4,203 4,062 4,143 4,064 4,036 4,116
Total Equity & Noncontrolling Interests		 57,863 57,465 58,078 58,261 57,824 57,797 57,923 57,664 58,617 58,075 57,307
Total Preferred & Common Equity		 53,237 52,835 53,466 53,636 53,182 53,191 53,345 53,072 53,951 53,467 52,729
Preferred Stock		 64 64 64 64 64 64 64 64 64 64 64
Total Common Equity		 53,164 52,762 53,392 53,563 53,109 53,117 53,272 52,999 53,878 53,394 52,655
Common Stock		 54,065 54,058 54,116 54,198 54,250 54,336 54,393 54,423 54,464 54,556 54,604
Retained Earnings		 -458 -800 -391 -449 -627 -933 -965 -852 -466 -813 -1,183
Accumulated Other Comprehensive Income / (Loss)		 -444 -496 -332 -186 -514 -285 -156 -572 -120 -350 -766
Noncontrolling Interest		 4,626 4,630 4,612 4,625 4,642 4,606 4,578 4,592 4,666 4,608 4,578

Annual Metrics And Ratios for Prologis

This table displays calculated financial ratios and metrics derived from Prologis' official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.59% 24.78% 15.30% 3.36% 7.12% 18.76% 33.27% 7.23% 25.51% 34.31% 2.22%
EBITDA Growth		 21.00% 18.80% 13.31% 23.21% -2.74% 6.56% 17.48% 41.66% 9.71% 8.78% 15.64%
EBIT Growth		 47.22% 11.72% 22.47% 32.50% -4.72% 0.69% 6.56% 72.71% 9.99% 2.31% 21.86%
NOPAT Growth		 59.44% 11.96% 72.90% 195.53% -13.93% 8.63% 10.64% 54.98% 9.92% 4.24% 21.68%
Net Income Growth		 109.40% 25.19% 39.66% 36.24% 3.52% -6.64% -5.01% 94.76% 12.92% -8.50% 21.36%
EPS Growth		 93.75% 32.26% 38.41% 34.80% -6.21% -14.29% -18.29% 96.02% 7.87% -22.59% 21.88%
Operating Cash Flow Growth		 -105.60% 486.28% 1,250.45% 0.00% 0.00% 25.53% 29.72% 2.01% 37.73% 30.21% -8.58%
Free Cash Flow Firm Growth		 -114.43% -557.12% 132.11% 137.90% -278.17% 130.09% -694.42% 111.00% -1,785.63% 92.92% 269.78%
Invested Capital Growth		 5.93% 27.42% -3.83% -7.90% 38.23% -0.82% 46.68% 3.91% 56.14% 7.10% 2.05%
Revenue Q/Q Growth		 0.81% 9.59% -0.90% -0.01% 7.15% 0.57% 6.88% 3.61% 8.63% 1.75% 3.95%
EBITDA Q/Q Growth		 23.35% -26.98% 2.43% 35.63% 11.99% -6.26% -0.33% 28.19% -10.49% 3.07% 12.53%
EBIT Q/Q Growth		 43.94% -15.76% 22.65% -5.91% 18.22% -9.67% -5.82% 47.10% -16.40% 3.52% 19.29%
NOPAT Q/Q Growth		 3.72% 7.90% 9.44% 151.75% -30.29% -2.74% -5.02% 32.43% -10.30% -0.52% 15.31%
Net Income Q/Q Growth		 94.64% -24.54% 35.69% -6.77% 23.90% -13.44% -6.82% 46.06% -16.07% 1.75% 20.30%
EPS Q/Q Growth		 169.57% -28.07% 36.75% -8.66% 17.14% -13.07% -10.27% 49.24% -21.15% 4.78% 21.15%
Operating Cash Flow Q/Q Growth		 -107.68% -92.59% 53.86% 0.00% 0.00% 3.98% -0.43% 3.90% 15.75% -3.64% 5.61%
Free Cash Flow Firm Q/Q Growth		 -129.63% 33.51% 50.88% 119.70% -126.60% 129.93% -6.76% 530.30% -2,391.07% 93.40% 1,978.90%
Invested Capital Q/Q Growth		 14.91% 0.21% -1.77% -50.40% 42.95% 0.83% 2.10% 1.19% 48.91% 1.44% -1.15%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 75.56% 75.23% 77.54% 78.25% 78.58% 77.95% 78.55% 78.12% 79.82% 79.75% 78.48%
EBITDA Margin		 95.50% 90.93% 89.36% 106.53% 96.73% 86.79% 76.51% 101.08% 88.35% 71.56% 80.95%
Operating Margin		 18.16% 17.30% 26.39% 74.63% 60.19% 55.54% 47.74% 67.38% 58.05% 46.21% 53.84%
EBIT Margin		 59.83% 53.57% 56.90% 72.95% 64.89% 55.01% 43.99% 70.85% 62.09% 47.30% 56.39%
Profit (Net Income) Margin		 41.99% 42.12% 51.03% 67.26% 65.00% 51.10% 36.42% 66.15% 59.52% 40.55% 48.14%
Tax Burden Percent		 103.60% 97.57% 95.95% 96.99% 96.64% 95.81% 92.53% 94.76% 96.33% 93.91% 95.94%
Interest Burden Percent		 67.74% 80.59% 93.45% 95.06% 103.66% 96.95% 89.48% 98.53% 99.51% 91.28% 88.98%
Effective Tax Rate		 -3.60% 2.43% 4.05% 3.01% 3.36% 4.19% 7.47% 5.24% 3.67% 6.09% 4.06%
Return on Invested Capital (ROIC)		 1.76% 1.69% 2.65% 8.32% 6.27% 5.90% 5.31% 6.79% 5.72% 4.72% 5.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.66% 12.36% 14.00% 5.12% 11.38% 4.19% -0.71% 8.21% 7.74% 3.28% 3.97%
Return on Net Nonoperating Assets (RNNOA)		 3.27% 3.82% 4.36% 1.15% 1.92% 0.67% -0.13% 1.71% 1.72% 0.90% 1.28%
Return on Equity (ROE)		 5.04% 5.51% 7.01% 9.48% 8.19% 6.56% 5.18% 8.50% 7.44% 5.62% 6.78%
Cash Return on Invested Capital (CROIC)		 -3.99% -22.43% 6.55% 16.55% -25.82% 6.72% -32.54% 2.95% -38.12% -2.14% 3.47%
Operating Return on Assets (OROA)		 4.18% 4.11% 4.68% 6.39% 5.36% 4.67% 4.06% 5.89% 5.07% 4.20% 4.91%
Return on Assets (ROA)		 2.93% 3.24% 4.19% 5.90% 5.37% 4.34% 3.36% 5.50% 4.86% 3.60% 4.19%
Return on Common Equity (ROCE)		 4.72% 4.67% 5.61% 7.77% 6.95% 5.67% 4.52% 7.49% 6.73% 5.17% 6.23%
Return on Equity Simple (ROE_SIMPLE)		 5.29% 6.31% 8.62% 11.27% 8.18% 7.51% 5.06% 9.42% 6.68% 6.12% 7.32%
Net Operating Profit after Tax (NOPAT)		 331 371 641 1,895 1,631 1,772 1,961 3,039 3,340 3,482 4,237
NOPAT Margin		 18.82% 16.88% 25.32% 72.39% 58.17% 53.21% 44.17% 63.85% 55.92% 43.40% 51.66%
Net Nonoperating Expense Percent (NNEP)		 -9.89% -10.68% -11.35% 3.21% -5.11% 1.71% 6.02% -1.42% -2.02% 1.44% 1.53%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 4.09% 4.01% 4.73%
Cost of Revenue to Revenue		 24.44% 24.77% 22.46% 21.75% 21.42% 22.05% 21.45% 21.88% 20.18% 20.25% 21.52%
SG&A Expenses to Revenue		 14.36% 12.92% 9.33% 9.29% 9.01% 8.40% 6.87% 6.63% 6.22% 5.53% 5.68%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 57.40% 57.93% 51.16% 3.61% 18.39% 22.42% 30.81% 10.74% 21.77% 33.54% 24.63%
Earnings before Interest and Taxes (EBIT)		 1,054 1,177 1,441 1,910 1,820 1,832 1,953 3,372 3,709 3,795 4,625
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,682 1,998 2,264 2,789 2,713 2,891 3,396 4,811 5,278 5,741 6,639
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.18 1.22 1.53 1.86 1.44 2.22 2.11 3.48 1.84 2.25 1.82
Price to Tangible Book Value (P/TBV)		 1.18 1.22 1.53 1.86 1.44 2.22 2.11 3.48 1.84 2.25 1.82
Price to Revenue (P/Rev)		 9.29 8.09 9.01 11.05 11.44 15.07 15.18 24.41 16.41 14.87 11.94
Price to Earnings (P/E)		 26.30 20.60 18.97 17.62 19.53 32.04 45.75 39.60 29.18 39.07 26.28
Dividend Yield		 4.03% 4.48% 3.89% 3.24% 3.77% 2.67% 2.54% 1.60% 2.98% 2.70% 3.63%
Earnings Yield		 3.80% 4.85% 5.27% 5.67% 5.12% 3.12% 2.19% 2.53% 3.43% 2.56% 3.81%
Enterprise Value to Invested Capital (EV/IC)		 1.13 1.14 1.35 1.63 1.35 1.95 1.83 2.83 1.64 1.87 1.57
Enterprise Value to Revenue (EV/Rev)		 12.41 12.84 12.61 13.58 14.50 17.49 18.13 27.12 19.52 17.81 14.89
Enterprise Value to EBITDA (EV/EBITDA)		 13.00 14.12 14.11 12.75 14.99 20.16 23.69 26.84 22.09 24.89 18.39
Enterprise Value to EBIT (EV/EBIT)		 20.74 23.97 22.16 18.61 22.35 31.80 41.21 38.28 31.44 37.66 26.40
Enterprise Value to NOPAT (EV/NOPAT)		 65.97 76.07 49.81 18.76 24.93 32.88 41.04 42.48 34.91 41.04 28.82
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 268.89 22.54 0.00 22.55 25.74 27.40 43.09 28.26 26.60 24.86
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 20.16 9.43 0.00 28.84 0.00 97.71 0.00 0.00 45.64
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.62 0.63 0.57 0.50 0.43 0.46 0.46 0.47 0.41 0.50 0.53
Long-Term Debt to Equity		 0.62 0.63 0.57 0.50 0.43 0.46 0.46 0.47 0.41 0.50 0.53
Financial Leverage		 0.28 0.31 0.31 0.23 0.17 0.16 0.18 0.21 0.22 0.28 0.32
Leverage Ratio		 1.72 1.70 1.67 1.61 1.53 1.51 1.54 1.55 1.53 1.56 1.62
Compound Leverage Factor		 1.16 1.37 1.56 1.53 1.58 1.47 1.38 1.52 1.52 1.43 1.44
Debt to Total Capital		 38.19% 38.69% 36.50% 33.48% 30.06% 31.35% 31.69% 31.94% 29.21% 33.40% 34.50%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 38.19% 38.69% 36.50% 33.48% 30.06% 31.35% 31.69% 31.94% 29.21% 33.40% 34.50%
Preferred Equity to Total Capital		 0.32% 0.26% 0.27% 0.25% 0.19% 0.18% 0.12% 0.12% 0.08% 0.07% 0.07%
Noncontrolling Interests to Total Capital		 4.92% 12.49% 11.93% 10.93% 9.50% 9.00% 8.19% 7.78% 5.66% 5.35% 5.21%
Common Equity to Total Capital		 56.56% 48.54% 51.29% 55.33% 60.26% 59.45% 59.99% 60.15% 65.04% 61.17% 60.20%
Debt to EBITDA		 5.58 5.82 4.69 3.37 4.09 4.12 4.96 3.68 4.52 5.05 4.65
Net Debt to EBITDA		 2.50 3.31 2.46 1.24 1.84 1.58 2.55 1.78 2.63 3.30 2.93
Long-Term Debt to EBITDA		 5.58 5.82 4.69 3.37 4.09 4.12 4.96 3.68 4.52 5.05 4.65
Debt to NOPAT		 28.31 31.35 16.54 4.97 6.80 6.72 8.59 5.83 7.15 8.33 7.29
Net Debt to NOPAT		 12.69 17.81 8.69 1.83 3.07 2.58 4.41 2.81 4.16 5.44 4.60
Long-Term Debt to NOPAT		 28.31 31.35 16.54 4.97 6.80 6.72 8.59 5.83 7.15 8.33 7.29
Altman Z-Score		 0.90 0.85 1.26 1.78 1.66 2.35 2.17 3.59 2.14 2.23 1.83
Noncontrolling Interest Sharing Ratio		 6.34% 15.26% 20.03% 18.03% 15.10% 13.62% 12.69% 11.90% 9.50% 8.14% 8.12%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.63 1.23 2.09 1.17 0.45 0.00 0.52 0.44 0.16 0.30 0.75
Quick Ratio		 0.56 0.70 1.51 0.68 0.45 0.00 0.52 0.44 0.16 0.30 0.75
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -751 -4,934 1,584 3,769 -6,715 2,021 -12,011 1,321 -22,270 -1,576 2,675
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 963.03% 220.99% 0.00%
Free Cash Flow to Firm to Interest Expense		 -1.58 -12.73 5.27 10.99 -28.98 7.89 -23.89 2.91 -67.64 -2.47 3.10
Operating Cash Flow to Interest Expense		 -0.06 0.27 4.71 0.00 7.78 8.84 5.84 6.60 12.53 8.42 5.69
Operating Cash Flow Less CapEx to Interest Expense		 4.60 7.27 12.25 0.00 13.44 14.02 7.92 10.80 11.23 4.61 7.38
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.07 0.08 0.08 0.09 0.08 0.08 0.09 0.08 0.08 0.09 0.09
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.09 0.10 0.00 0.00 0.00 0.00 0.00 0.11 0.10 0.11 0.11
Accounts Payable Turnover		 0.72 0.81 0.90 0.90 0.82 0.00 0.00 0.87 0.81 0.93 1.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 505.56 449.63 407.08 403.43 444.61 0.00 0.00 419.94 448.73 390.65 365.47
Cash Conversion Cycle (CCC)		 -505.56 -449.63 -407.08 -403.43 -444.61 0.00 0.00 -419.94 -448.73 -390.65 -365.47
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 19,344 24,650 23,707 21,833 30,179 29,931 43,903 45,621 71,230 76,288 77,849
Invested Capital Turnover		 0.09 0.10 0.10 0.12 0.11 0.11 0.12 0.11 0.10 0.11 0.11
Increase / (Decrease) in Invested Capital		 1,082 5,305 -943 -1,874 8,346 -249 13,972 1,718 25,610 5,058 1,561
Enterprise Value (EV)		 21,855 28,214 31,941 35,547 40,667 58,268 80,466 129,093 116,602 142,913 122,108
Market Capitalization		 16,364 17,776 22,825 28,934 32,095 50,200 67,400 116,166 98,013 119,281 97,897
Book Value per Share		 $27.79 $27.82 $28.20 $29.24 $35.31 $35.74 $43.15 $45.12 $57.59 $57.48 $58.17
Tangible Book Value per Share		 $27.79 $27.82 $28.20 $29.24 $35.31 $35.74 $43.15 $45.12 $57.59 $57.48 $58.17
Total Capital		 24,564 30,048 29,066 28,118 36,891 37,978 53,174 55,457 81,739 86,824 89,496
Total Debt		 9,380 11,627 10,608 9,413 11,090 11,906 16,849 17,715 23,876 29,001 30,879
Total Long-Term Debt		 9,380 11,627 10,608 9,413 11,090 11,906 16,849 17,715 23,876 29,001 30,879
Net Debt		 4,205 6,607 5,571 3,469 5,001 4,580 8,649 8,548 13,899 18,926 19,481
Capital Expenditures (CapEx)		 -2,207 -2,712 -2,266 0.00 -1,311 -1,326 -1,043 -1,902 428 2,431 -1,463
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -584 -99 -202 -326 -761 0.00 -1,143 -1,253 -1,712 -1,766 -1,769
Debt-free Net Working Capital (DFNWC)		 -233 165 605 121 -417 1,089 -545 -697 -1,433 -1,236 -451
Net Working Capital (NWC)		 -233 165 605 121 -417 1,089 -545 -697 -1,433 -1,236 -451
Net Nonoperating Expense (NNE)		 -408 -555 -651 134 -192 70 344 -110 -215 229 289
Net Nonoperating Obligations (NNO)		 4,161 6,229 5,248 3,127 4,378 3,859 7,578 7,878 13,367 18,464 19,233
Total Depreciation and Amortization (D&A)		 628 821 822 879 893 1,058 1,444 1,438 1,569 1,946 2,015
Debt-free, Cash-free Net Working Capital to Revenue		 -33.17% -4.52% -7.97% -12.47% -27.12% 0.00% -25.76% -26.32% -28.66% -22.01% -21.57%
Debt-free Net Working Capital to Revenue		 -13.25% 7.50% 23.90% 4.60% -14.86% 32.69% -12.28% -14.64% -24.00% -15.40% -5.50%
Net Working Capital to Revenue		 -13.25% 7.50% 23.90% 4.60% -14.86% 32.69% -12.28% -14.64% -24.00% -15.40% -5.50%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.25 $0.00 $2.29 $3.10 $2.90 $2.48 $2.02 $3.97 $4.28 $3.30 $4.02
Adjusted Weighted Average Basic Shares Outstanding		 499.58M 0.00 526.10M 530.40M 567.37M 630.58M 728.32M 739.36M 785.68M 924.35M 926.17M
Adjusted Diluted Earnings per Share		 $1.24 $0.00 $2.27 $3.06 $2.87 $2.46 $2.01 $3.94 $4.25 $3.29 $4.01
Adjusted Weighted Average Diluted Shares Outstanding		 506.39M 0.00 546.67M 552.30M 590.24M 654.90M 754.41M 764.76M 811.61M 951.79M 953.59M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 512.14M 0.00 529.35M 533.05M 630.35M 738.74M 739.50M 740M 923.43M 924.88M 926.86M
Normalized Net Operating Profit after Tax (NOPAT)		 224 371 641 1,578 1,177 1,324 1,530 2,265 2,765 3,048 3,840
Normalized NOPAT Margin		 12.71% 16.88% 25.32% 60.26% 41.98% 39.76% 34.48% 47.58% 46.28% 37.99% 46.82%
Pre Tax Income Margin		 40.53% 43.18% 53.18% 69.35% 67.26% 53.33% 39.36% 69.82% 61.78% 43.18% 50.17%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.22 3.04 4.79 5.57 7.85 7.16 3.88 7.43 11.27 5.95 5.36
NOPAT to Interest Expense		 0.70 0.96 2.13 5.53 7.04 6.92 3.90 6.70 10.15 5.46 4.91
EBIT Less CapEx to Interest Expense		 6.88 10.03 12.33 5.57 13.51 12.33 5.96 11.63 9.97 2.14 7.05
NOPAT Less CapEx to Interest Expense		 5.35 7.95 9.67 5.53 12.70 12.10 5.97 10.89 8.84 1.65 6.60
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 133.59% 110.26% 95.70% 0.00% 73.96% 88.73% 128.95% 71.39% 77.76% 106.47% 97.93%
Augmented Payout Ratio		 137.09% 113.99% 97.50% 0.00% 79.08% 96.22% 141.69% 81.87% 81.55% 110.42% 98.80%

Quarterly Metrics And Ratios for Prologis

This table displays calculated financial ratios and metrics derived from Prologis' official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 37.14% 45.07% 95.75% 9.35% 7.86% 10.63% -18.08% 6.36% 16.48% 9.36% 8.76%
EBITDA Growth		 -34.78% -34.14% 82.34% -1.24% 14.74% 20.35% -17.58% 19.31% 55.57% 4.59% -18.58%
EBIT Growth		 -51.31% -53.15% 112.17% -12.58% 18.68% 33.40% -26.25% 27.68% 91.27% 8.02% -25.52%
NOPAT Growth		 -32.54% -53.80% 168.50% -5.01% -2.85% 25.86% -26.50% 48.55% 73.73% 20.13% -9.98%
Net Income Growth		 -52.33% -59.12% 97.93% -25.26% 9.00% 26.51% -28.76% 33.07% 98.58% 1.38% -31.73%
EPS Growth		 -68.26% -67.53% 59.76% -41.18% 28.30% 26.00% -29.77% 35.00% 102.94% 0.00% -33.70%
Operating Cash Flow Growth		 78.42% 32.41% 51.15% 63.65% -15.90% -5.28% -10.59% -27.14% 24.29% 9.98% 14.29%
Free Cash Flow Firm Growth		 -4,450.92% -2,316.73% -843.46% -1,319.88% 82.72% 82.54% 96.78% 91.33% 94.72% 72.12% -161.75%
Invested Capital Growth		 56.14% 56.29% 57.73% 57.22% 7.10% 7.11% 2.42% 4.71% 2.05% 2.67% 4.01%
Revenue Q/Q Growth		 0.04% 0.97% 38.58% -21.88% -1.33% 3.57% 2.62% 1.42% 8.07% -2.77% 2.07%
EBITDA Q/Q Growth		 -20.36% -8.24% 79.43% -24.68% -7.47% -3.76% 22.88% 9.03% 20.64% -35.29% -4.34%
EBIT Q/Q Growth		 -36.47% -14.89% 144.68% -33.93% -13.76% -4.33% 35.28% 14.38% 29.20% -45.97% -6.72%
NOPAT Q/Q Growth		 -10.43% -31.21% 144.36% -36.91% -8.40% -10.88% 42.71% 27.51% 7.13% -38.37% 6.93%
Net Income Q/Q Growth		 -42.01% -19.58% 156.60% -37.54% -15.42% -6.67% 44.50% 16.67% 26.21% -52.35% -2.69%
EPS Q/Q Growth		 -61.03% -5.66% 162.00% -38.93% -15.00% -7.35% 46.03% 17.39% 27.78% -54.35% -3.17%
Operating Cash Flow Q/Q Growth		 6.17% -12.78% 9.05% 62.06% -45.44% -1.76% 2.94% 32.07% -6.93% -13.08% 6.98%
Free Cash Flow Firm Q/Q Growth		 -1,228.11% -1.83% -3.55% -1.40% 83.83% -2.90% 80.89% -172.70% 90.15% -443.51% -79.37%
Invested Capital Q/Q Growth		 48.91% 0.63% 4.81% 0.11% 1.44% 0.65% 0.22% 2.35% -1.15% 1.26% 1.53%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 78.60% 76.67% 84.17% 78.27% 78.39% 76.78% 77.83% 79.01% 80.08% 77.18% 77.66%
EBITDA Margin		 66.20% 60.16% 77.89% 75.10% 70.42% 65.44% 78.36% 84.25% 94.05% 62.59% 58.67%
Operating Margin		 46.44% 32.74% 57.60% 46.07% 44.19% 36.82% 50.96% 61.43% 64.58% 41.05% 41.79%
EBIT Margin		 39.42% 33.23% 58.67% 49.62% 43.37% 40.06% 52.81% 59.57% 71.22% 39.57% 36.17%
Profit (Net Income) Margin		 35.40% 28.19% 52.20% 41.74% 35.78% 32.24% 45.39% 52.22% 60.99% 29.89% 28.50%
Tax Burden Percent		 97.23% 93.96% 94.17% 95.09% 92.03% 95.06% 95.49% 99.61% 93.92% 93.65% 96.38%
Interest Burden Percent		 92.37% 90.31% 94.49% 88.45% 89.63% 84.65% 90.01% 88.02% 91.18% 80.65% 81.75%
Effective Tax Rate		 2.77% 6.04% 5.83% 4.91% 7.97% 4.94% 4.51% 0.39% 6.08% 6.35% 3.62%
Return on Invested Capital (ROIC)		 4.62% 3.41% 6.82% 5.62% 4.42% 3.87% 4.97% 6.27% 6.46% 4.14% 4.39%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.01% 2.99% 6.44% 5.30% 3.84% 3.55% 4.61% 5.31% 6.49% 3.22% 3.16%
Return on Net Nonoperating Assets (RNNOA)		 0.67% 0.67% 1.71% 1.36% 1.06% 1.02% 1.43% 1.74% 2.10% 1.10% 1.15%
Return on Equity (ROE)		 5.29% 4.09% 8.54% 6.98% 5.48% 4.89% 6.40% 8.01% 8.56% 5.25% 5.54%
Cash Return on Invested Capital (CROIC)		 -38.12% -39.32% -39.02% -38.80% -2.14% -1.99% 1.91% 0.17% 3.47% 2.99% 1.52%
Operating Return on Assets (OROA)		 3.22% 2.92% 5.95% 5.12% 3.85% 3.62% 4.41% 5.00% 6.20% 3.51% 3.24%
Return on Assets (ROA)		 2.89% 2.48% 5.30% 4.31% 3.17% 2.91% 3.79% 4.39% 5.31% 2.65% 2.55%
Return on Common Equity (ROCE)		 4.78% 3.70% 7.74% 6.33% 5.04% 4.49% 5.89% 7.37% 7.86% 4.82% 5.09%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 5.36% 6.49% 5.96% 0.00% 6.36% 5.66% 6.18% 0.00% 7.40% 0.00%
Net Operating Profit after Tax (NOPAT)		 791 544 1,329 839 768 685 977 1,246 1,335 823 880
NOPAT Margin		 45.15% 30.76% 54.24% 43.81% 40.67% 35.00% 48.67% 61.19% 60.66% 38.45% 40.28%
Net Nonoperating Expense Percent (NNEP)		 1.61% 0.42% 0.39% 0.32% 0.58% 0.33% 0.36% 0.96% -0.04% 0.92% 1.23%
Return On Investment Capital (ROIC_SIMPLE)		 0.97% - - - 0.89% - - - 1.49% 0.91% 0.96%
Cost of Revenue to Revenue		 21.40% 23.33% 15.83% 21.73% 21.61% 23.22% 22.17% 20.99% 19.92% 22.82% 22.34%
SG&A Expenses to Revenue		 5.57% 6.05% 4.40% 5.69% 6.35% 6.31% 5.88% 5.59% 5.02% 5.81% 5.43%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 32.16% 43.93% 26.57% 32.20% 34.20% 39.97% 26.86% 17.58% 15.49% 36.12% 35.86%
Earnings before Interest and Taxes (EBIT)		 690 588 1,438 950 819 784 1,060 1,213 1,567 847 790
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,160 1,064 1,909 1,438 1,330 1,281 1,574 1,716 2,070 1,339 1,281
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.84 2.11 2.06 1.88 2.25 2.25 1.95 2.21 1.82 1.94 1.85
Price to Tangible Book Value (P/TBV)		 1.84 2.11 2.06 1.88 2.25 2.25 1.95 2.21 1.82 1.94 1.85
Price to Revenue (P/Rev)		 16.41 17.03 14.24 12.76 14.87 14.53 13.39 14.82 11.94 12.36 11.39
Price to Earnings (P/E)		 29.18 41.56 33.55 33.44 39.07 37.58 36.88 37.99 26.28 27.76 28.33
Dividend Yield		 2.98% 2.69% 2.79% 3.12% 2.70% 2.77% 3.26% 2.97% 3.63% 3.48% 3.75%
Earnings Yield		 3.43% 2.41% 2.98% 2.99% 2.56% 2.66% 2.71% 2.63% 3.81% 3.60% 3.53%
Enterprise Value to Invested Capital (EV/IC)		 1.64 1.82 1.76 1.64 1.87 1.87 1.67 1.82 1.57 1.64 1.56
Enterprise Value to Revenue (EV/Rev)		 19.52 20.04 17.13 15.61 17.81 17.45 16.50 18.12 14.89 15.46 14.62
Enterprise Value to EBITDA (EV/EBITDA)		 22.09 27.66 23.68 22.09 24.89 24.06 22.80 24.24 18.39 19.35 19.54
Enterprise Value to EBIT (EV/EBIT)		 31.44 42.97 34.79 33.57 37.66 35.91 35.46 36.88 26.40 27.65 28.34
Enterprise Value to NOPAT (EV/NOPAT)		 34.91 48.27 37.30 35.16 41.04 39.57 39.19 38.92 28.82 29.60 29.25
Enterprise Value to Operating Cash Flow (EV/OCF)		 28.26 29.72 27.51 22.07 26.60 26.97 24.72 30.74 24.86 25.83 24.20
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 88.40 1,111.11 45.64 55.75 104.99
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.41 0.44 0.48 0.47 0.50 0.51 0.52 0.56 0.53 0.56 0.60
Long-Term Debt to Equity		 0.41 0.44 0.48 0.47 0.50 0.51 0.52 0.56 0.53 0.56 0.60
Financial Leverage		 0.22 0.23 0.27 0.26 0.28 0.29 0.31 0.33 0.32 0.34 0.36
Leverage Ratio		 1.53 1.55 1.57 1.56 1.56 1.58 1.60 1.62 1.62 1.63 1.66
Compound Leverage Factor		 1.41 1.40 1.48 1.38 1.40 1.34 1.44 1.43 1.48 1.32 1.36
Debt to Total Capital		 29.21% 30.45% 32.63% 32.13% 33.40% 33.84% 34.05% 35.90% 34.50% 35.71% 37.69%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 29.21% 30.45% 32.63% 32.13% 33.40% 33.84% 34.05% 35.90% 34.50% 35.71% 37.69%
Preferred Equity to Total Capital		 0.08% 0.08% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
Noncontrolling Interests to Total Capital		 5.66% 5.60% 5.35% 5.39% 5.35% 5.27% 5.21% 5.11% 5.21% 5.10% 4.98%
Common Equity to Total Capital		 65.04% 63.86% 61.93% 62.40% 61.17% 60.81% 60.65% 58.92% 60.20% 59.11% 57.25%
Debt to EBITDA		 4.52 5.32 5.03 4.95 5.05 4.96 5.32 5.47 4.65 4.82 5.41
Net Debt to EBITDA		 2.63 3.16 3.16 3.19 3.30 3.25 3.48 3.63 2.93 3.18 3.59
Long-Term Debt to EBITDA		 4.52 5.32 5.03 4.95 5.05 4.96 5.32 5.47 4.65 4.82 5.41
Debt to NOPAT		 7.15 9.29 7.93 7.88 8.33 8.16 9.14 8.79 7.29 7.37 8.10
Net Debt to NOPAT		 4.16 5.52 4.98 5.07 5.44 5.35 5.98 5.83 4.60 4.87 5.37
Long-Term Debt to NOPAT		 7.15 9.29 7.93 7.88 8.33 8.16 9.14 8.79 7.29 7.37 8.10
Altman Z-Score		 2.03 2.22 2.04 1.89 2.12 2.10 1.84 1.93 1.73 1.73 1.54
Noncontrolling Interest Sharing Ratio		 9.50% 9.45% 9.34% 9.28% 8.14% 8.14% 8.05% 8.08% 8.12% 8.08% 8.07%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.16 0.35 0.34 0.43 0.30 0.29 0.36 0.43 0.75 0.41 0.65
Quick Ratio		 0.16 0.35 0.34 0.43 0.30 0.29 0.36 0.43 0.75 0.41 0.65
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -24,819 -25,273 -26,169 -26,534 -4,289 -4,414 -843 -2,300 -226 -1,231 -2,207
Operating Cash Flow to CapEx		 0.00% 0.00% 45.38% 0.00% 1,156.36% 0.00% 0.00% 257.92% 0.00% 186.42% 452.16%
Free Cash Flow to Firm to Interest Expense		 -203.29 -190.40 -174.67 -146.55 -24.59 -22.89 -4.05 -9.99 -0.98 -5.31 -8.76
Operating Cash Flow to Interest Expense		 10.47 8.39 8.11 10.88 6.16 5.47 5.22 6.24 5.75 5.01 4.93
Operating Cash Flow Less CapEx to Interest Expense		 11.14 8.42 -9.76 12.73 5.63 5.86 7.38 3.82 12.18 2.32 3.84
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.08 0.09 0.10 0.10 0.09 0.09 0.08 0.08 0.09 0.09 0.09
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.10 0.11 0.13 0.13 0.11 0.11 0.10 0.10 0.11 0.11 0.11
Accounts Payable Turnover		 0.81 0.99 1.11 1.05 0.93 1.02 1.07 0.98 1.00 1.07 1.12
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 448.73 368.91 328.02 348.55 390.65 357.03 341.97 371.20 365.47 342.08 324.53
Cash Conversion Cycle (CCC)		 -448.73 -368.91 -328.02 -348.55 -390.65 -357.03 -341.97 -371.20 -365.47 -342.08 -324.53
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 71,230 71,682 75,128 75,209 76,288 76,780 76,949 78,754 77,849 78,834 80,036
Invested Capital Turnover		 0.10 0.11 0.13 0.13 0.11 0.11 0.10 0.10 0.11 0.11 0.11
Increase / (Decrease) in Invested Capital		 25,610 25,817 27,498 27,373 5,058 5,098 1,820 3,546 1,561 2,053 3,087
Enterprise Value (EV)		 116,602 130,733 132,313 123,064 142,913 143,327 128,165 142,997 122,108 129,589 125,168
Market Capitalization		 98,013 111,089 109,970 100,630 119,281 119,291 103,982 116,924 97,897 103,614 97,544
Book Value per Share		 $57.59 $57.14 $57.82 $57.98 $57.48 $57.40 $57.54 $57.24 $58.17 $57.61 $56.75
Tangible Book Value per Share		 $57.59 $57.14 $57.82 $57.98 $57.48 $57.40 $57.54 $57.24 $58.17 $57.61 $56.75
Total Capital		 81,739 82,619 86,207 85,839 86,824 87,355 87,828 89,954 89,496 90,337 91,973
Total Debt		 23,876 25,153 28,129 27,578 29,001 29,558 29,905 32,290 30,879 32,262 34,667
Total Long-Term Debt		 23,876 25,153 28,129 27,578 29,001 29,558 29,905 32,290 30,879 32,262 34,667
Net Debt		 13,899 14,951 17,667 17,746 18,926 19,366 19,541 21,416 19,481 21,304 22,982
Capital Expenditures (CapEx)		 -82 -3.04 2,677 -336 93 -73 -452 556 -1,494 623 275
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,712 -1,508 -1,582 -1,721 -1,766 -1,752 -1,648 -1,808 -1,769 -1,620 -1,628
Debt-free Net Working Capital (DFNWC)		 -1,433 -985 -1,051 -980 -1,236 -1,252 -1,050 -1,027 -451 -949 -562
Net Working Capital (NWC)		 -1,433 -985 -1,051 -980 -1,236 -1,252 -1,050 -1,027 -451 -949 -562
Net Nonoperating Expense (NNE)		 171 45 50 40 92 54 66 183 -7.32 183 257
Net Nonoperating Obligations (NNO)		 13,367 14,217 17,051 16,948 18,464 18,983 19,026 21,090 19,233 20,758 22,729
Total Depreciation and Amortization (D&A)		 469 476 471 488 511 497 513 503 503 493 491
Debt-free, Cash-free Net Working Capital to Revenue		 -28.66% -23.11% -20.49% -21.83% -22.01% -21.34% -21.21% -22.92% -21.57% -19.33% -19.02%
Debt-free Net Working Capital to Revenue		 -24.00% -15.10% -13.61% -12.43% -15.40% -15.25% -13.51% -13.02% -5.50% -11.32% -6.56%
Net Working Capital to Revenue		 -24.00% -15.10% -13.61% -12.43% -15.40% -15.25% -13.51% -13.02% -5.50% -11.32% -6.56%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.54 $0.50 $1.31 $0.81 $0.68 $0.63 $0.93 $1.08 $1.38 $0.64 $0.61
Adjusted Weighted Average Basic Shares Outstanding		 785.68M 923.89M 924.19M 924.40M 924.35M 925.32M 926.28M 926.43M 926.17M 927.34M 928.48M
Adjusted Diluted Earnings per Share		 $0.53 $0.50 $1.31 $0.80 $0.68 $0.63 $0.92 $1.08 $1.38 $0.63 $0.61
Adjusted Weighted Average Diluted Shares Outstanding		 811.61M 951.62M 951.71M 951.91M 951.79M 953.91M 953.20M 953.81M 953.59M 956.08M 955.88M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 923.43M 923.47M 923.86M 923.97M 924.88M 925.84M 925.91M 926.18M 926.86M 927.93M 928.06M
Normalized Net Operating Profit after Tax (NOPAT)		 590 540 1,155 754 599 630 894 1,214 1,113 797 870
Normalized NOPAT Margin		 33.66% 30.55% 47.14% 39.39% 31.69% 32.19% 44.52% 59.62% 50.55% 37.24% 39.82%
Pre Tax Income Margin		 36.41% 30.01% 55.44% 43.89% 38.87% 33.92% 47.54% 52.43% 64.94% 31.92% 29.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.66 4.43 9.60 5.25 4.70 4.07 5.09 5.27 6.75 3.65 3.14
NOPAT to Interest Expense		 6.48 4.10 8.87 4.63 4.40 3.55 4.69 5.41 5.75 3.55 3.49
EBIT Less CapEx to Interest Expense		 6.33 4.45 -8.27 7.10 4.16 4.45 7.26 2.85 13.18 0.97 2.05
NOPAT Less CapEx to Interest Expense		 7.15 4.12 -9.00 6.49 3.87 3.93 6.86 3.00 12.18 0.86 2.40
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 77.76% 102.78% 91.00% 105.72% 106.47% 105.18% 121.90% 114.91% 97.93% 99.05% 107.70%
Augmented Payout Ratio		 81.55% 111.58% 100.52% 116.26% 110.42% 109.65% 123.04% 115.83% 98.80% 99.75% 109.26%

Key Financial Trends

Prologis (NYSE: PLD) has demonstrated steady growth and strong financial performance over the last four years through Q2 2025. Below are the key financial trends and notable points from its quarterly financial statements:

  • Consistent Revenue Growth: Operating revenue increased from approximately $1.76 billion in Q1 2023 to around $2.17 billion in Q2 2025, reflecting ongoing demand for Prologis' logistics real estate.
  • Solid Net Income Increases: Net income attributable to common shareholders grew from $463 million in Q1 2023 to $570 million in Q2 2025, showing robust profitability.
  • Strong Operating Cash Flows: Net cash from operating activities remained healthy, reaching $1.24 billion in Q2 2025, supporting investments and shareholder returns.
  • Substantial Capital Investments: Purchase of property, plant & equipment is significant, with $779 million in Q1 2025 and $374 million in Q2 2025, signaling ongoing asset expansion.
  • Controlled Dividend Payouts: Dividends per share increased modestly from $0.87 in early 2023 to $1.01 by Q2 2025, reflecting a commitment to returning value to shareholders.
  • Modest Equity Repurchases: Share repurchase activity remains consistent but not excessive, indicating a balanced capital allocation strategy.
  • Stable Debt Levels: Long-term debt rose from about $25 billion in early 2023 to approximately $35 billion in mid-2025, aligned with asset growth, without significant leverage spikes.
  • Cash & Equivalents Fluctuation: Cash balances ranged from $500 million in Q1 2023 to over $1 billion in Q2 2025, showing prudent liquidity management but some variability due to capex and financing.
  • Growing Interest Expense: Interest expense increased from $132 million in Q1 2023 to $252 million by Q2 2025, which could pressure margins if rates rise further.
  • Negative Other Income/Expense Impact: There was a notable swing to negative other income/expense leading to a $123 million net charge in Q2 2025, which may reflect non-recurring items or market volatility risks.

Summary: Prologis' financials highlight robust revenue and income growth driven by steady demand in the logistics real estate sector. Operating cash flow remains strong and capital expenditures continue to support portfolio expansion. The company maintains a balanced approach to dividends and share repurchases. However, rising interest expense and some variability in other income/expense warrant monitoring. Overall, Prologis shows stable fundamentals with consistent financial health and growth potential.

08/09/25 07:42 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Prologis' Financials

When does Prologis' fiscal year end?

According to the most recent income statement we have on file, Prologis' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Prologis' net income changed over the last 10 years?

Prologis' net income appears to be on an upward trend, with a most recent value of $3.95 billion in 2024, rising from $739.28 million in 2014. The previous period was $3.25 billion in 2023. See Prologis' forecast for analyst expectations on what’s next for the company.

What is Prologis' operating income?
Prologis' total operating income in 2024 was $4.42 billion, based on the following breakdown:
  • Total Gross Profit: $6.44 billion
  • Total Operating Expenses: $2.02 billion
How has Prologis' revenue changed over the last 10 years?

Over the last 10 years, Prologis' total revenue changed from $1.76 billion in 2014 to $8.20 billion in 2024, a change of 365.8%.

How much debt does Prologis have?

Prologis' total liabilities were at $36.71 billion at the end of 2024, a 4.3% increase from 2023, and a 245.2% increase since 2014.

How much cash does Prologis have?

In the past 10 years, Prologis' cash and equivalents has ranged from $264.08 million in 2015 to $1.32 billion in 2024, and is currently $1.32 billion as of their latest financial filing in 2024.

How has Prologis' book value per share changed over the last 10 years?

Over the last 10 years, Prologis' book value per share changed from 27.79 in 2014 to 58.17 in 2024, a change of 109.4%.


Related Companies

This page (NYSE:PLD) was last updated on 8/9/2025 by MarketBeat.com Staff
From Our Partners
Trump’s national nightmare is here
Porter Stansberry and Jeff Brown say a new U.S. national emergency is already underway — and it could trigger ...
Porter & Company | Sponsored
Man Who Called Nvidia at $1.10 Says Buy This Now...
In 2004, one man called Nvidia before just about anyone knew it existed. Now, this same guy says a new comp...
The Oxford Club | Sponsored
Elon’s Secret Social Security Bombshell
To All Americans Born Before April 16th, 1963: Did Trump Just Give The Green Light To Radically RE-DO Social S...
Banyan Hill Publishing | Sponsored
Crypto Income (almost instantly)
How would you like to collect a small percentage of the $4 billion changing hands daily in the crypto market? ...
Awesomely, LLC | Sponsored
One stock to replace Nvidia
I'm a Futurist: Here are 3 stocks better than Nvidia Nvidia's own customers could soon become fierce compet...
InvestorPlace | Sponsored
INVESTOR ALERT: Tiny “$3 AI Wonder Stock” on the Verge of Blasting Off
Right now, we’re witnessing a monumental shift in the world.
Traders Agency | Sponsored
Crypto bros: Meet your replacement
Larry Benedict made $274 million trading on Wall Street… Barron’s ranked his hedge fund in the top 1% world...
Brownstone Research | Sponsored
Utah’s New Oil Find
The Real Reason 218,000 Acres Just Vanished The government just quietly leased 218,000 acres in the middle ...
Stansberry Research | Sponsored