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Prologis, Inc. (PLD)

As-reported financials and SEC filings for Prologis, Inc. The latest annual period is FY2025. The latest reported quarter is Q1 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Prologis, Inc.

Prologis, Inc. is a real estate investment trust that owns, manages, and develops logistics facilities globally. The company serves customers by providing high-quality industrial properties and integrated infrastructure solutions to support supply chains, including facilities for distribution, fulfillment, and data centers. Prologis operates a portfolio of properties across 20 countries and offers services such as leasing, property management, development, and acquisition.

Snapshot

Revenue
$8.79B
Revenue growth (YoY)
7.2%
Net income
$3.33B
Diluted EPS
$3.56
Gross margin
Operating margin
49.6%
Net margin
37.9%
FCF margin
ROE
5.8%
net income / fiscal-year-end equity
P/E
30.2×
trailing when available, otherwise FY EPS
Market cap
$131.87B
Long-term debt / equity
0.61×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Prologis

  • Revenue grew 7.2% to $8.8B in FY2025, faster than the 2.2% the year before.
  • Operating margin is 49.6% in FY2025, -17.8 pp against 67.4% in FY2021.
  • Most recent quarter Q1 FY2026: revenue $2.3B, up 7.4% from Q1 FY2025.
  • Net income fell 10.8% to $3.3B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Prologis’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin49.6%
76th percentile of 81
Net margin37.9%
88th percentile of 156
Revenue growth (YoY)+7.2%
70th percentile of 161
ROE5.8%
60th percentile of 142
P/E30.2×
59th percentile of 109
Long-term debt / equity0.61×
15th percentile of 100
Short interest2.72d
21st percentile of 152

Prologis’s net margin of 37.9% ranks in the 88th percentile of the 156 REITs reporting it. Prologis’s long-term debt to equity of 0.61 ranks in the 15th percentile of the 100 REITs reporting it.

No reported insider purchases (code P) in the last 90 days; 2 insider sales totaling $8.0M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+6 quant / multi-strat
Initiated / added
7
3 new, 4 added
Reduced / exited
1
0 trimmed, 1 exited
Combined position
$555.8M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$197.9M1.5MAdded
AQR Capital ManagementquantQ2 2026$197.4M1.5MAdded
Citadel AdvisorsquantQ2 2026$78.8M581.8KAdded
Gotham Asset ManagementQ2 2026$48.0M354.0KAdded
Point72 Asset ManagementquantQ2 2026$24.0M176.8KNew
D. E. ShawquantQ2 2026$9.3M68.5KNew
Two Sigma InvestmentsquantQ2 2026$500,8333.7KNew

No longer held by: Bridgewater Associates (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
2
$8.0M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-16
filed 2026-07-20
Moghadam HamidDirectorSell50.0K$149.91$7.5M
2026-06-15
filed 2026-06-17
Arndt Timothy DChief Financial OfficerSell3.6K$150.00$540K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
15.7M
settled 2026-08-14
Change vs prior
-13.3%
vs previous settlement
Days to cover
2.72
at avg daily volume
Avg daily volume
5.8M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1415.7M-13.3%2.72
2026-07-3118.1M+34.9%3.61
2026-07-1513.5M+3.1%3.95
2026-06-3013.0M-18.2%2.79
2026-06-1516.0M+18.4%4.22
2026-05-2913.5M+7.7%3.92
2026-05-1512.5M+1.6%4.34
2026-04-3012.3M+7.1%3.27

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$8.79B$8.20B$8.02B$5.97B$4.76B
Gross profit
Operating income$4.36B$4.42B$3.71B$3.47B$3.21B
Net income$3.33B$3.73B$3.06B$3.36B$2.94B
Diluted EPS$3.56$4.01$3.29$4.25$3.94

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$1.15B$1.32B$530.0M$278.0M$556.0M
Current assets
Total assets$98.72B$95.33B$93.02B$87.90B$58.49B
Current liabilities
Long-term debt$35.04B$30.88B$29.00B$23.88B$215.3M
Total liabilities$40.97B$36.71B$35.20B$30.03B$20.74B
Total equity$57.75B$58.62B$57.82B$57.86B$37.74B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$5.01B$4.91B$5.37B$4.13B$3.00B
Capital expenditure
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$2.30B7.4%$982.0M$1.05
Q4 FY2025$2.25B2.4%$1.40B$1.46
Q3 FY2025$2.21B8.7%$764.3M$0.82
Q2 FY2025$2.18B8.8%$571.2M$0.61
Q1 FY2025$2.14B9.4%$593.0M$0.63
Q4 FY2024$2.20B16.5%$1.28B$1.34
Q3 FY2024$2.04B6.4%$1.01B$1.08
Q2 FY2024$2.01B-18.1%$861.3M$0.92

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ1 FY2026 (ended March 31, 2026)
Oldest indexed filing2019
SEC CIK1045609

Selected SEC filings

10-K2026-02-13
View on EDGAR →
10-K2025-02-14
View on EDGAR →
10-Q2026-07-29
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
10-Q2025-10-28
View on EDGAR →
10-Q2025-07-30
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-08-05
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.