InsiderClue
Stocks · Real estate · Real Estate Investment Trusts

Prologis

PLD Clue Score42
United States Fiscal year ends December CIK 0001045609
$129.49 +0.15% Close, 9 Oct 2026
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Price $129.49 +0.43% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.53Operating income0.67Net income1.21EPS, diluted2.27Fiscal year 2017Revenue2.62 +3.4%Operating income1.95Net income1.65 +36.6%EPS, diluted3.06 +34.8%Fiscal year 2018Revenue2.80 +7.1%Operating income1.69Net income1.65 −0.2%EPS, diluted2.87 −6.2%Fiscal year 2019Revenue3.33 +18.8%Operating income1.85Net income1.57 −4.6%EPS, diluted2.46 −14.3%Fiscal year 2020Revenue4.44 +33.3%Operating income2.12Net income1.48 −5.8%EPS, diluted2.01 −18.3%Fiscal year 2021Revenue4.76 +7.2%Operating income3.21Net income2.94 +98.4%EPS, diluted3.94 +96.0%Fiscal year 2022Revenue5.97 +25.5%Operating income3.47Net income3.36 +14.5%EPS, diluted4.25 +7.9%Fiscal year 2023Revenue8.02 +34.3%Operating income3.71Net income3.06 −9.1%EPS, diluted3.29 −22.6%Fiscal year 2024Revenue8.20 +2.2%Operating income4.42Net income3.73 +22.0%EPS, diluted4.01 +21.9%Fiscal year 2025Revenue8.79 +7.2%Operating income4.36Net income3.33 −10.8%EPS, diluted3.56 −11.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.53 2.62 2.80 3.33 4.44 4.76 5.97 8.02 8.20 8.79
Growth +3.4% +7.1% +18.8% +33.3% +7.2% +25.5% +34.3% +2.2% +7.2%
Operating income 0.67 1.95 1.69 1.85 2.12 3.21 3.47 3.71 4.42 4.36
Net income 1.21 1.65 1.65 1.57 1.48 2.94 3.36 3.06 3.73 3.33
Growth +36.6% −0.2% −4.6% −5.8% +98.4% +14.5% −9.1% +22.0% −10.8%
EPS, diluted 2.27 3.06 2.87 2.46 2.01 3.94 4.25 3.29 4.01 3.56
Growth +34.8% −6.2% −14.3% −18.3% +96.0% +7.9% −22.6% +21.9% −11.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin26.4%Net margin47.8%Fiscal year 2017Operating margin74.6%Net margin63.1%Fiscal year 2018Operating margin60.2%Net margin58.8%Fiscal year 2019Operating margin55.5%Net margin47.2%Fiscal year 2020Operating margin47.7%Net margin33.4%Fiscal year 2021Operating margin67.4%Net margin61.8%Fiscal year 2022Operating margin58.0%Net margin56.3%Fiscal year 2023Operating margin46.2%Net margin38.1%Fiscal year 2024Operating margin53.8%Net margin45.5%Fiscal year 2025Operating margin49.6%Net margin37.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 26.4% 74.6% 60.2% 55.5% 47.7% 67.4% 58.0% 46.2% 53.8% 49.6%
Net margin 47.8% 63.1% 58.8% 47.2% 33.4% 61.8% 56.3% 38.1% 45.5% 37.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow1.42Dividends paid−0.89Fiscal year 2017Operating cash flow1.69Dividends paid−0.94Fiscal year 2018Operating cash flow1.80Dividends paid−1.12Fiscal year 2019Operating cash flow2.26Dividends paid−1.35Fiscal year 2020Operating cash flow2.94Dividends paid−1.72Fiscal year 2021Operating cash flow3.00Dividends paid−1.87Fiscal year 2022Operating cash flow4.13Dividends paid−2.49Fiscal year 2023Operating cash flow5.37Dividends paid−3.23Fiscal year 2024Operating cash flow4.91Dividends paid−3.57Fiscal year 2025Operating cash flow5.01Dividends paid−3.76
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.42 1.69 1.80 2.26 2.94 3.00 4.13 5.37 4.91 5.01
Dividends paid −0.89 −0.94 −1.12 −1.35 −1.72 −1.87 −2.49 −3.23 −3.57 −3.76

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.81Total debt10.61Net cash (debt)−9.80Shareholders’ equity14.99Debt to equity0.71Fiscal year 2017Cash0.45Total debt9.41Net cash (debt)−8.97Shareholders’ equity15.63Debt to equity0.60Fiscal year 2018Cash0.34Total debt11.09Net cash (debt)−10.75Shareholders’ equity22.30Debt to equity0.50Fiscal year 2019Cash1.09Total debt11.91Net cash (debt)−10.82Shareholders’ equity22.65Debt to equity0.53Fiscal year 2020Cash0.60Total debt16.85Net cash (debt)−16.25Shareholders’ equity31.97Debt to equity0.53Fiscal year 2021Cash0.56Total debt0.22Net cash (debt)0.34Shareholders’ equity33.43Debt to equity0.01Fiscal year 2022Cash0.28Total debt23.88Net cash (debt)−23.60Shareholders’ equity53.24Debt to equity0.45Fiscal year 2023Cash0.53Total debt29.00Net cash (debt)−28.47Shareholders’ equity53.18Debt to equity0.55Fiscal year 2024Cash1.32Total debt30.88Net cash (debt)−29.56Shareholders’ equity53.95Debt to equity0.57Fiscal year 2025Cash1.15Total debt35.04Net cash (debt)−33.89Shareholders’ equity53.19Debt to equity0.66
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.81 0.45 0.34 1.09 0.60 0.56 0.28 0.53 1.32 1.15
Total debt 10.61 9.41 11.09 11.91 16.85 0.22 23.88 29.00 30.88 35.04
Net cash (debt) −9.80 −8.97 −10.75 −10.82 −16.25 0.34 −23.60 −28.47 −29.56 −33.89
Shareholders’ equity 14.99 15.63 22.30 22.65 31.97 33.43 53.24 53.18 53.95 53.19
Debt to equity 0.71 0.60 0.50 0.53 0.53 0.01 0.45 0.55 0.57 0.66

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2.53 2.62 2.80 3.33 4.44 4.76 5.97 8.02 8.20 8.79
Growth +3.4% +7.1% +18.8% +33.3% +7.2% +25.5% +34.3% +2.2% +7.2%
0.22 0.23 0.24 0.27 0.27 0.29 0.33 0.39 0.42 0.47
0.67 1.95 1.69 1.85 2.12 3.21 3.47 3.71 4.42 4.36
Growth +192.4% −13.6% +9.6% +14.6% +51.3% +8.1% +6.9% +19.1% −1.3%
1.35 1.82 1.89 1.78 1.75 3.32 3.69 3.46 4.11 3.77
0.05 0.05 0.06 0.07 0.13 0.17 0.14 0.21 0.17 0.20
1.21 1.65 1.65 1.57 1.48 2.94 3.36 3.06 3.73 3.33
Growth +36.6% −0.2% −4.6% −5.8% +98.4% +14.5% −9.1% +22.0% −10.8%
Per share
2.29 3.10 2.90 2.48 2.02 3.97 4.28 3.30 4.02 3.58
2.27 3.06 2.87 2.46 2.01 3.94 4.25 3.29 4.01 3.56
Growth +34.8% −6.2% −14.3% −18.3% +96.0% +7.9% −22.6% +21.9% −11.2%
526.1 530.4 567.4 630.6 728.3 739.4 785.7 924.4 926.2 928.5
546.7 552.3 590.2 654.9 754.4 764.8 811.6 951.8 953.6 956.8
Growth +1.0% +6.9% +11.0% +15.2% +1.4% +6.1% +17.3% +0.2% +0.3%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 14.6% a year over five years, and earnings per share grew 12.1% a year.
  • The diluted share count rose 26.8% in five years, which is dilution.
  • Operating margin is up 1.8 points on five years ago, at 49.6%.
  • Profitable in every one of the 10 years on file.