Prologis (PLD) Financials

$108.73 -1.92 (-1.74%)

As of 05/20/2025 03:59 PM Eastern

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

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	592	1,277	1,004	860	584	629	746	1,215	463	586	1,014
Consolidated Net Income / (Loss)	640	1,342	1,063	912	631	676	799	1,279	499	620	1,069
Net Income / (Loss) Continuing Operations	640	1,342	1,063	912	631	676	799	1,279	499	620	1,069
Total Pre-Tax Income	683	1,429	1,068	955	664	734	840	1,359	531	638	1,108
Total Operating Income	878	1,421	1,251	1,023	720	835	882	1,412	579	813	915
Total Gross Profit	1,651	1,762	1,609	1,563	1,502	1,481	1,499	2,063	1,356	1,377	1,466
Total Revenue	2,140	2,201	2,036	2,008	1,957	1,889	1,915	2,451	1,769	1,752	1,751
Operating Revenue	2,140	2,201	2,036	2,008	1,957	1,889	1,915	2,451	1,769	1,752	1,751
Total Cost of Revenue	488	438	427	445	454	408	416	388	413	375	285
Operating Cost of Revenue	488	438	427	445	454	408	416	388	413	375	285
Total Operating Expenses	773	341	358	539	782	646	616	651	777	563	551
Selling, General & Admin Expense	124	110	114	118	124	120	109	108	107	98	95
Depreciation Expense	652	656	649	637	638	638	642	602	602	612	401
Other Operating Expenses / (Income)	24	-189	-373	-129	79	72	-46	126	72	60	130
Other Special Charges / (Income)	-27	-237	-32	-87	-58	-184	-89	-185	-4.05	-207	-75
Total Other Income / (Expense), net	-196	7.79	-183	-69	-57	-100	-42	-53	-48	-176	193
Interest Expense	232	232	230	208	193	174	181	150	133	122	64
Interest & Investment Income	68	94	85	102	72	89	71	71	76	69	85
Other Income / (Expense), net	-32	146	-38	37	64	-15	68	26	8.61	-123	172
Income Tax Expense	43	87	4.21	43	33	58	41	79	32	18	39
Preferred Stock Dividends Declared	1.45	1.47	1.45	1.50	1.45	1.46	1.45	1.48	1.45	1.46	1.53
Net Income / (Loss) Attributable to Noncontrolling Interest	47	63	58	50	45	45	52	63	34	33	54
Basic Earnings per Share	$0.64	$1.38	$1.08	$0.93	$0.63	$0.68	$0.81	$1.31	$0.50	$0.54	$1.37
Weighted Average Basic Shares Outstanding	927.34M	926.17M	926.43M	926.28M	925.32M	924.35M	924.40M	924.19M	923.89M	785.68M	740.72M
Diluted Earnings per Share	$0.63	$1.38	$1.08	$0.92	$0.63	$0.68	$0.80	$1.31	$0.50	$0.53	$1.36
Weighted Average Diluted Shares Outstanding	956.08M	953.59M	953.81M	953.20M	953.91M	951.79M	951.91M	951.71M	951.62M	811.61M	766.37M
Weighted Average Basic & Diluted Shares Outstanding	927.93M	926.86M	926.18M	925.91M	925.84M	924.88M	923.97M	923.86M	923.47M	923.43M	923.08M
Cash Dividends to Common per Share	$1.01	-	$0.96	$0.96	$0.96	-	$0.87	$0.87	$0.87	-	$0.79

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-647	538	183	98	-30	-141	206	-58	244	-358	199
Net Cash From Operating Activities	1,161	1,335	1,435	1,086	1,055	1,074	1,969	1,215	1,114	1,278	1,203
Net Cash From Continuing Operating Activities	1,161	1,335	1,435	1,086	1,055	1,074	1,969	1,215	1,114	1,278	1,203
Net Income / (Loss) Continuing Operations	640	1,342	1,063	912	631	676	799	1,279	499	620	1,069
Consolidated Net Income / (Loss)	640	1,342	1,063	912	631	676	799	1,279	499	620	1,069
Depreciation Expense	652	656	649	637	638	638	642	602	602	612	401
Amortization Expense	-160	-154	-147	-124	-141	-127	-154	-131	-126	-143	-32
Non-Cash Adjustments To Reconcile Net Income	132	-534	-233	-231	73	31	561	-764	176	415	-505
Changes in Operating Assets and Liabilities, net	-103	25	101	-107	-145	-143	121	229	-37	-226	270
Net Cash From Investing Activities	-1,551	320	-1,711	-624	-1,084	-1,207	-699	-3,464	-1,049	-1,288	-1,252
Net Cash From Continuing Investing Activities	-1,551	320	-1,711	-624	-1,084	-1,207	-699	-3,464	-1,049	-1,288	-1,252
Purchase of Property, Plant & Equipment	-780	-507	-1,295	-399	-126	-547	-200	-3,397	-52	-260	-363
Sale of Property, Plant & Equipment	157	2,001	738	851	200	454	536	720	55	342	68
Sale and/or Maturity of Investments	33	7.50	37	18	12	86	26	283	26	33	40
Other Investing Activities, net	-961	-1,180	-1,191	-1,093	-1,169	-1,194	-1,055	-1,051	-1,075	-1,307	-998
Net Cash From Financing Activities	-276	-1,092	445	-356	2.39	-84	-1,048	2,280	172	-372	258
Net Cash From Continuing Financing Activities	-276	-1,093	445	-356	2.39	-14	-1,051	2,213	172	-372	258
Repayment of Debt	228	-398	136	-528	-860	759	-412	242	-1,429	-260	-203
Repurchase of Common Equity	-6.65	-4.30	-9.22	-7.42	-13	69	-13	-124	-60	-50	-6.31
Payment of Dividends	-1,015	-961	-959	-984	-962	-866	-866	-867	-865	-782	-641
Issuance of Debt	520	222	1,267	1,159	1,858	8.12	242	2,960	2,545	722	1,109
Issuance of Common Equity	13	52	15	4.76	1.27	19	0.06	1.70	0.00	1.37	0.84
Other Financing Activities, net	-15	-3.63	-4.97	-0.21	-22	-4.72	-1.34	0.21	-19	-2.26	-1.46
Effect of Exchange Rate Changes	18	-26	14	-9.06	-3.58	6.39	-13	-22	6.47	24	-10

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	95,993	95,329	95,905	93,537	93,310	93,021	91,949	92,392	88,521	87,897	60,946
Total Current Assets	671	1,319	781	598	501	530	741	531	523	278	636
Cash & Equivalents	671	1,319	781	598	501	530	741	531	523	278	636
Plant, Property, & Equipment, net	79,451	78,488	79,761	77,865	77,997	77,735	76,582	76,573	72,877	72,587	47,396
Plant, Property & Equipment, gross	92,741	91,246	92,094	89,734	89,428	88,667	87,022	86,550	82,386	81,623	55,955
Accumulated Depreciation	13,291	12,758	12,333	11,869	11,431	10,931	10,439	9,977	9,508	9,036	8,559
Total Noncurrent Assets	15,872	15,522	15,364	15,074	14,813	14,755	14,626	15,288	15,121	15,032	12,913
Long-Term Investments	10,287	10,079	10,093	9,765	9,691	9,544	9,092	9,931	9,680	9,699	8,659
Other Noncurrent Operating Assets	5,039	5,194	4,945	4,794	4,739	4,750	4,737	4,740	4,707	4,801	3,639
Other Noncurrent Nonoperating Assets	546	249	326	516	383	462	798	617	734	531	614
Total Liabilities & Shareholders' Equity	95,993	95,329	95,905	93,537	93,310	93,021	91,949	92,392	88,521	87,897	60,946
Total Liabilities	37,918	36,712	38,241	35,614	35,513	35,197	33,689	34,314	31,056	30,034	21,339
Total Current Liabilities	1,620	1,769	1,808	1,648	1,752	1,766	1,721	1,582	1,508	1,712	1,318
Accounts Payable	1,620	1,769	1,808	1,648	1,752	1,766	1,721	1,582	1,508	1,712	1,318
Total Noncurrent Liabilities	36,298	34,943	36,433	33,966	33,761	33,431	31,967	32,732	29,548	28,322	20,021
Long-Term Debt	32,262	30,879	32,290	29,905	29,558	29,001	27,578	28,129	25,153	23,876	18,139
Other Noncurrent Operating Liabilities	4,036	4,064	4,143	4,062	4,203	4,431	4,389	4,603	4,395	4,447	1,882
Total Equity & Noncontrolling Interests	58,075	58,617	57,664	57,923	57,797	57,824	58,261	58,078	57,465	57,863	39,606
Total Preferred & Common Equity	53,467	53,951	53,072	53,345	53,191	53,182	53,636	53,466	52,835	53,237	35,293
Preferred Stock	64	64	64	64	64	64	64	64	64	64	64
Total Common Equity	53,394	53,878	52,999	53,272	53,117	53,109	53,563	53,392	52,762	53,164	35,222
Common Stock	54,556	54,464	54,423	54,393	54,336	54,250	54,198	54,116	54,058	54,065	35,606
Retained Earnings	-813	-466	-852	-965	-933	-627	-449	-391	-800	-458	-313
Accumulated Other Comprehensive Income / (Loss)	-350	-120	-572	-156	-285	-514	-186	-332	-496	-444	-72
Noncontrolling Interest	4,608	4,666	4,592	4,578	4,606	4,642	4,625	4,612	4,630	4,626	4,313

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

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

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.36%	16.48%	6.36%	-18.08%	10.63%	7.86%	9.35%	95.75%	45.07%	37.14%	48.00%
EBITDA Growth	4.59%	55.57%	19.31%	-17.58%	20.35%	14.74%	-1.24%	82.34%	-34.14%	-34.78%	22.75%
EBIT Growth	8.02%	91.27%	27.68%	-26.25%	33.40%	18.68%	-12.58%	112.17%	-53.15%	-51.31%	31.10%
NOPAT Growth	20.13%	73.73%	48.55%	-26.50%	25.86%	-2.85%	-5.01%	168.50%	-53.80%	-32.54%	23.92%
Net Income Growth	1.38%	98.58%	33.07%	-28.76%	26.51%	9.00%	-25.26%	97.93%	-59.12%	-52.33%	34.03%
EPS Growth	0.00%	102.94%	35.00%	-29.77%	26.00%	28.30%	-41.18%	59.76%	-67.53%	-68.26%	40.21%
Operating Cash Flow Growth	9.98%	24.29%	-27.14%	-10.59%	-5.28%	-15.90%	63.65%	51.15%	32.41%	78.42%	47.82%
Free Cash Flow Firm Growth	72.12%	94.72%	91.33%	96.78%	82.54%	82.72%	-1,319.88%	-843.46%	-2,316.73%	-4,450.92%	-36.16%
Invested Capital Growth	2.67%	2.05%	4.71%	2.42%	7.11%	7.10%	57.22%	57.73%	56.29%	56.14%	6.10%
Revenue Q/Q Growth	-2.77%	8.07%	1.42%	2.62%	3.57%	-1.33%	-21.88%	38.58%	0.97%	0.04%	39.84%
EBITDA Q/Q Growth	-35.29%	20.64%	9.03%	22.88%	-3.76%	-7.47%	-24.68%	79.43%	-8.24%	-20.36%	39.06%
EBIT Q/Q Growth	-45.97%	29.20%	14.38%	35.28%	-4.33%	-13.76%	-33.93%	144.68%	-14.89%	-36.47%	60.37%
NOPAT Q/Q Growth	-38.37%	7.13%	27.51%	42.71%	-10.88%	-8.40%	-36.91%	144.36%	-31.21%	-10.43%	78.34%
Net Income Q/Q Growth	-52.35%	26.21%	16.67%	44.50%	-6.67%	-15.42%	-37.54%	156.60%	-19.58%	-42.01%	65.40%
EPS Q/Q Growth	-54.35%	27.78%	17.39%	46.03%	-7.35%	-15.00%	-38.93%	162.00%	-5.66%	-61.03%	65.85%
Operating Cash Flow Q/Q Growth	-13.08%	-6.93%	32.07%	2.94%	-1.76%	-45.44%	62.06%	9.05%	-12.78%	6.17%	49.68%
Free Cash Flow Firm Q/Q Growth	-443.51%	90.15%	-172.70%	80.89%	-2.90%	83.83%	-1.40%	-3.55%	-1.83%	-1,228.11%	32.63%
Invested Capital Q/Q Growth	1.26%	-1.15%	2.35%	0.22%	0.65%	1.44%	0.11%	4.81%	0.63%	48.91%	0.43%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.18%	80.08%	79.01%	77.83%	76.78%	78.39%	78.27%	84.17%	76.67%	78.60%	83.74%
EBITDA Margin	62.59%	94.05%	84.25%	78.36%	65.44%	70.42%	75.10%	77.89%	60.16%	66.20%	83.15%
Operating Margin	41.05%	64.58%	61.43%	50.96%	36.82%	44.19%	46.07%	57.60%	32.74%	46.44%	52.26%
EBIT Margin	39.57%	71.22%	59.57%	52.81%	40.06%	43.37%	49.62%	58.67%	33.23%	39.42%	62.07%
Profit (Net Income) Margin	29.89%	60.99%	52.22%	45.39%	32.24%	35.78%	41.74%	52.20%	28.19%	35.40%	61.06%
Tax Burden Percent	93.65%	93.92%	99.61%	95.49%	95.06%	92.03%	95.09%	94.17%	93.96%	97.23%	96.51%
Interest Burden Percent	80.65%	91.18%	88.02%	90.01%	84.65%	89.63%	88.45%	94.49%	90.31%	92.37%	101.94%
Effective Tax Rate	6.35%	6.08%	0.39%	4.51%	4.94%	7.97%	4.91%	5.83%	6.04%	2.77%	3.49%
Return on Invested Capital (ROIC)	4.14%	6.46%	6.27%	4.97%	3.87%	4.42%	5.62%	6.82%	3.41%	4.62%	5.97%
ROIC Less NNEP Spread (ROIC-NNEP)	3.22%	6.49%	5.31%	4.61%	3.55%	3.84%	5.30%	6.44%	2.99%	3.01%	8.22%
Return on Net Nonoperating Assets (RNNOA)	1.10%	2.10%	1.74%	1.43%	1.02%	1.06%	1.36%	1.71%	0.67%	0.67%	1.78%
Return on Equity (ROE)	5.25%	8.56%	8.01%	6.40%	4.89%	5.48%	6.98%	8.54%	4.09%	5.29%	7.75%
Cash Return on Invested Capital (CROIC)	2.99%	3.47%	0.17%	1.91%	-1.99%	-2.14%	-38.80%	-39.02%	-39.32%	-38.12%	2.09%
Operating Return on Assets (OROA)	3.51%	6.20%	5.00%	4.41%	3.62%	3.85%	5.12%	5.95%	2.92%	3.22%	5.79%
Return on Assets (ROA)	2.65%	5.31%	4.39%	3.79%	2.91%	3.17%	4.31%	5.30%	2.48%	2.89%	5.69%
Return on Common Equity (ROCE)	4.82%	7.86%	7.37%	5.89%	4.49%	5.04%	6.33%	7.74%	3.70%	4.78%	6.87%
Return on Equity Simple (ROE_SIMPLE)	7.40%	0.00%	6.18%	5.66%	6.36%	0.00%	5.96%	6.49%	5.36%	0.00%	12.00%
Net Operating Profit after Tax (NOPAT)	823	1,335	1,246	977	685	768	839	1,329	544	791	883
NOPAT Margin	38.45%	60.66%	61.19%	48.67%	35.00%	40.67%	43.81%	54.24%	30.76%	45.15%	50.43%
Net Nonoperating Expense Percent (NNEP)	0.92%	-0.04%	0.96%	0.36%	0.33%	0.58%	0.32%	0.39%	0.42%	1.61%	-2.25%
Return On Investment Capital (ROIC_SIMPLE)	0.91%	1.49%	-	-	-	0.89%	-	-	-	0.97%	-
Cost of Revenue to Revenue	22.82%	19.92%	20.99%	22.17%	23.22%	21.61%	21.73%	15.83%	23.33%	21.40%	16.26%
SG&A Expenses to Revenue	5.81%	5.02%	5.59%	5.88%	6.31%	6.35%	5.69%	4.40%	6.05%	5.57%	5.42%
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	36.12%	15.49%	17.58%	26.86%	39.97%	34.20%	32.20%	26.57%	43.93%	32.16%	31.48%
Earnings before Interest and Taxes (EBIT)	847	1,567	1,213	1,060	784	819	950	1,438	588	690	1,087
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,339	2,070	1,716	1,574	1,281	1,330	1,438	1,909	1,064	1,160	1,456
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.94	1.82	2.21	1.95	2.25	2.25	1.88	2.06	2.11	1.84	2.03
Price to Tangible Book Value (P/TBV)	1.94	1.82	2.21	1.95	2.25	2.25	1.88	2.06	2.11	1.84	2.03
Price to Revenue (P/Rev)	12.36	11.94	14.82	13.39	14.53	14.87	12.76	14.24	17.03	16.41	13.01
Price to Earnings (P/E)	27.76	26.28	37.99	36.88	37.58	39.07	33.44	33.55	41.56	29.18	17.79
Dividend Yield	3.48%	3.63%	2.97%	3.26%	2.77%	2.70%	3.12%	2.79%	2.69%	2.98%	3.11%
Earnings Yield	3.60%	3.81%	2.63%	2.71%	2.66%	2.56%	2.99%	2.98%	2.41%	3.43%	5.62%
Enterprise Value to Invested Capital (EV/IC)	1.64	1.57	1.82	1.67	1.87	1.87	1.64	1.76	1.82	1.64	1.77
Enterprise Value to Revenue (EV/Rev)	15.46	14.89	18.12	16.50	17.45	17.81	15.61	17.13	20.04	19.52	15.41
Enterprise Value to EBITDA (EV/EBITDA)	19.35	18.39	24.24	22.80	24.06	24.89	22.09	23.68	27.66	22.09	14.37
Enterprise Value to EBIT (EV/EBIT)	27.65	26.40	36.88	35.46	35.91	37.66	33.57	34.79	42.97	31.44	19.10
Enterprise Value to NOPAT (EV/NOPAT)	29.60	28.82	38.92	39.19	39.57	41.04	35.16	37.30	48.27	34.91	22.76
Enterprise Value to Operating Cash Flow (EV/OCF)	25.83	24.86	30.74	24.72	26.97	26.60	22.07	27.51	29.72	28.26	23.77
Enterprise Value to Free Cash Flow (EV/FCFF)	55.75	45.64	1,111.11	88.40	0.00	0.00	0.00	0.00	0.00	0.00	87.18
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.56	0.53	0.56	0.52	0.51	0.50	0.47	0.48	0.44	0.41	0.46
Long-Term Debt to Equity	0.56	0.53	0.56	0.52	0.51	0.50	0.47	0.48	0.44	0.41	0.46
Financial Leverage	0.34	0.32	0.33	0.31	0.29	0.28	0.26	0.27	0.23	0.22	0.22
Leverage Ratio	1.63	1.62	1.62	1.60	1.58	1.56	1.56	1.57	1.55	1.53	1.54
Compound Leverage Factor	1.32	1.48	1.43	1.44	1.34	1.40	1.38	1.48	1.40	1.41	1.57
Debt to Total Capital	35.71%	34.50%	35.90%	34.05%	33.84%	33.40%	32.13%	32.63%	30.45%	29.21%	31.41%
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	35.71%	34.50%	35.90%	34.05%	33.84%	33.40%	32.13%	32.63%	30.45%	29.21%	31.41%
Preferred Equity to Total Capital	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.08%	0.08%	0.11%
Noncontrolling Interests to Total Capital	5.10%	5.21%	5.11%	5.21%	5.27%	5.35%	5.39%	5.35%	5.60%	5.66%	7.47%
Common Equity to Total Capital	59.11%	60.20%	58.92%	60.65%	60.81%	61.17%	62.40%	61.93%	63.86%	65.04%	60.99%
Debt to EBITDA	4.82	4.65	5.47	5.32	4.96	5.05	4.95	5.03	5.32	4.52	3.08
Net Debt to EBITDA	3.18	2.93	3.63	3.48	3.25	3.30	3.19	3.16	3.16	2.63	1.50
Long-Term Debt to EBITDA	4.82	4.65	5.47	5.32	4.96	5.05	4.95	5.03	5.32	4.52	3.08
Debt to NOPAT	7.37	7.29	8.79	9.14	8.16	8.33	7.88	7.93	9.29	7.15	4.87
Net Debt to NOPAT	4.87	4.60	5.83	5.98	5.35	5.44	5.07	4.98	5.52	4.16	2.38
Long-Term Debt to NOPAT	7.37	7.29	8.79	9.14	8.16	8.33	7.88	7.93	9.29	7.15	4.87
Altman Z-Score	1.73	1.73	1.93	1.84	2.10	2.12	1.89	2.04	2.22	2.03	2.14
Noncontrolling Interest Sharing Ratio	8.08%	8.12%	8.08%	8.05%	8.14%	8.14%	9.28%	9.34%	9.45%	9.50%	11.40%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.41	0.75	0.43	0.36	0.29	0.30	0.43	0.34	0.35	0.16	0.48
Quick Ratio	0.41	0.75	0.43	0.36	0.29	0.30	0.43	0.34	0.35	0.16	0.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,231	-226	-2,300	-843	-4,414	-4,289	-26,534	-26,169	-25,273	-24,819	-1,869
Operating Cash Flow to CapEx	186.42%	0.00%	257.92%	0.00%	0.00%	1,156.36%	0.00%	45.38%	0.00%	0.00%	408.56%
Free Cash Flow to Firm to Interest Expense	-5.31	-0.98	-9.99	-4.05	-22.89	-24.59	-146.55	-174.67	-190.40	-203.29	-29.25
Operating Cash Flow to Interest Expense	5.01	5.75	6.24	5.22	5.47	6.16	10.88	8.11	8.39	10.47	18.84
Operating Cash Flow Less CapEx to Interest Expense	2.32	12.18	3.82	7.38	5.86	5.63	12.73	-9.76	8.42	11.14	14.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.09	0.09	0.08	0.08	0.09	0.09	0.10	0.10	0.09	0.08	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	0.11	0.11	0.10	0.10	0.11	0.11	0.13	0.13	0.11	0.10	0.12
Accounts Payable Turnover	1.07	1.00	0.98	1.07	1.02	0.93	1.05	1.11	0.99	0.81	0.79
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)	342.08	365.47	371.20	341.97	357.03	390.65	348.55	328.02	368.91	448.73	461.06
Cash Conversion Cycle (CCC)	-342.08	-365.47	-371.20	-341.97	-357.03	-390.65	-348.55	-328.02	-368.91	-448.73	-461.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	78,834	77,849	78,754	76,949	76,780	76,288	75,209	75,128	71,682	71,230	47,836
Invested Capital Turnover	0.11	0.11	0.10	0.10	0.11	0.11	0.13	0.13	0.11	0.10	0.12
Increase / (Decrease) in Invested Capital	2,053	1,561	3,546	1,820	5,098	5,058	27,373	27,498	25,817	25,610	2,752
Enterprise Value (EV)	129,589	122,108	142,997	128,165	143,327	142,913	123,064	132,313	130,733	116,602	84,743
Market Capitalization	103,614	97,897	116,924	103,982	119,291	119,281	100,630	109,970	111,089	98,013	71,522
Book Value per Share	$57.61	$58.17	$57.24	$57.54	$57.40	$57.48	$57.98	$57.82	$57.14	$57.59	$47.57
Tangible Book Value per Share	$57.61	$58.17	$57.24	$57.54	$57.40	$57.48	$57.98	$57.82	$57.14	$57.59	$47.57
Total Capital	90,337	89,496	89,954	87,828	87,355	86,824	85,839	86,207	82,619	81,739	57,746
Total Debt	32,262	30,879	32,290	29,905	29,558	29,001	27,578	28,129	25,153	23,876	18,139
Total Long-Term Debt	32,262	30,879	32,290	29,905	29,558	29,001	27,578	28,129	25,153	23,876	18,139
Net Debt	21,304	19,481	21,416	19,541	19,366	18,926	17,746	17,667	14,951	13,899	8,844
Capital Expenditures (CapEx)	623	-1,494	556	-452	-73	93	-336	2,677	-3.04	-82	295
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,620	-1,769	-1,808	-1,648	-1,752	-1,766	-1,721	-1,582	-1,508	-1,712	-1,318
Debt-free Net Working Capital (DFNWC)	-949	-451	-1,027	-1,050	-1,252	-1,236	-980	-1,051	-985	-1,433	-682
Net Working Capital (NWC)	-949	-451	-1,027	-1,050	-1,252	-1,236	-980	-1,051	-985	-1,433	-682
Net Nonoperating Expense (NNE)	183	-7.32	183	66	54	92	40	50	45	171	-186
Net Nonoperating Obligations (NNO)	20,758	19,233	21,090	19,026	18,983	18,464	16,948	17,051	14,217	13,367	8,230
Total Depreciation and Amortization (D&A)	493	503	503	513	497	511	488	471	476	469	369
Debt-free, Cash-free Net Working Capital to Revenue	-19.33%	-21.57%	-22.92%	-21.21%	-21.34%	-22.01%	-21.83%	-20.49%	-23.11%	-28.66%	-23.97%
Debt-free Net Working Capital to Revenue	-11.32%	-5.50%	-13.02%	-13.51%	-15.25%	-15.40%	-12.43%	-13.61%	-15.10%	-24.00%	-12.40%
Net Working Capital to Revenue	-11.32%	-5.50%	-13.02%	-13.51%	-15.25%	-15.40%	-12.43%	-13.61%	-15.10%	-24.00%	-12.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.64	$1.38	$1.08	$0.93	$0.63	$0.68	$0.81	$1.31	$0.50	$0.54	$1.37
Adjusted Weighted Average Basic Shares Outstanding	927.34M	926.17M	926.43M	926.28M	925.32M	924.35M	924.40M	924.19M	923.89M	785.68M	740.72M
Adjusted Diluted Earnings per Share	$0.63	$1.38	$1.08	$0.92	$0.63	$0.68	$0.80	$1.31	$0.50	$0.53	$1.36
Adjusted Weighted Average Diluted Shares Outstanding	956.08M	953.59M	953.81M	953.20M	953.91M	951.79M	951.91M	951.71M	951.62M	811.61M	766.37M
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	927.93M	926.86M	926.18M	925.91M	925.84M	924.88M	923.97M	923.86M	923.47M	923.43M	923.08M
Normalized Net Operating Profit after Tax (NOPAT)	797	1,113	1,214	894	630	599	754	1,155	540	590	811
Normalized NOPAT Margin	37.24%	50.55%	59.62%	44.52%	32.19%	31.69%	39.39%	47.14%	30.55%	33.66%	46.32%
Pre Tax Income Margin	31.92%	64.94%	52.43%	47.54%	33.92%	38.87%	43.89%	55.44%	30.01%	36.41%	63.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.65	6.75	5.27	5.09	4.07	4.70	5.25	9.60	4.43	5.66	17.01
NOPAT to Interest Expense	3.55	5.75	5.41	4.69	3.55	4.40	4.63	8.87	4.10	6.48	13.82
EBIT Less CapEx to Interest Expense	0.97	13.18	2.85	7.26	4.45	4.16	7.10	-8.27	4.45	6.33	12.40
NOPAT Less CapEx to Interest Expense	0.86	12.18	3.00	6.86	3.93	3.87	6.49	-9.00	4.12	7.15	9.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	99.05%	97.93%	114.91%	121.90%	105.18%	106.47%	105.72%	91.00%	102.78%	77.76%	58.76%
Augmented Payout Ratio	99.75%	98.80%	115.83%	123.04%	109.65%	110.42%	116.26%	100.52%	111.58%	81.55%	64.76%

Frequently Asked Questions About Prologis' Financials

When does Prologis's 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 9 years?

Prologis' net income appears to be on an upward trend, with a most recent value of $3.95 billion in 2024, rising from $925.52 million in 2015. The previous period was $3.25 billion in 2023. View Prologis' forecast to see where analysts expect Prologis to go next.

What is Prologis's operating income?

Prologis's 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 9 years?

Over the last 9 years, Prologis' total revenue changed from $2.20 billion in 2015 to $8.20 billion in 2024, a change of 273.3%.

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 183.0% increase since 2015.

How much cash does Prologis have?

In the past 9 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 9 years?

Over the last 9 years, Prologis' book value per share changed from 27.82 in 2015 to 58.17 in 2024, a change of 109.1%.

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This page (NYSE:PLD) was last updated on 5/21/2025 by MarketBeat.com Staff

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Prologis (PLD) Financials

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Prologis (PLD) Financials

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