Logistics real estate company owning, managing, and developing distribution facilities in key markets worldwide.
Profile & Fundamentals
Prologis: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Prologis Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Prologis, Inc. don't just lead the industry, they define it. The firm creates the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, their ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one"not just shaping the future of logistics but building what comes next. Prologis, Inc. was established in 1983 and is incorporated in Maryland.
Company profile record
Prologis Inc
Common Stock · Real Estate · Industrial REITs
Company
- Company / asset
- Prologis Inc
- Security type
- Common Stock
- Sector
- Real Estate
- Industry
- Industrial REITs
- HQ
- 🇺🇸 United States
- Head office
- Pier 1, Bay 1, San Francisco, CA, United States, 94111
Leadership & scale
- Chief executive
- Mr. Daniel Stephen Letter
- CEO year born
- 1978
- Full-time employees
- 2.8K
- Fiscal year end
- December
- IPO date
- 1994-03-01
Fundamentals snapshot
- Market Cap
- USD 123.3B
- P/E
- 29.3x
- Revenue (Q2 26)
- USD 2.4B
- Profit (Q2 26)
- USD 1.1B
- Dividend Yield
- 2.3%
- Revenue (FY 25)
- USD 8.8B
- Shares in public float
- 928.6M
- Insider ownership
- 0.26%
Reporting & identifiers
- Symbol
- PLD.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US74340W1036
- Asset ID
- equity_0d6f9a02-6c61-558c-91a7-934fd208266f
Ownership
Shares Outstanding
Latest: 957.9M | Max: 958.0M | Min: 552.3M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
96.94%
928.6M latest reported shares
Insider Ownership
0.26%
Latest reported insider stake
Short Float
0.02%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 552,300,000 |
| 2018-01-01 | 590,239,000 |
| 2019-01-01 | 654,903,000 |
| 2020-01-01 | 754,414,000 |
| 2021-01-01 | 764,762,000 |
| 2022-01-01 | 946,953,000 |
| 2023-01-01 | 952,399,000 |
| 2024-01-01 | 953,590,000 |
| 2025-01-01 | 958,019,000 |
| 2026-01-01 | 957,884,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 100,414,059 | 10.57% | 2026-03-31 |
| Vanguard Capital Management, LLC | 60,308,417 | 6.35% | 2026-03-31 |
| State Street Corp | 56,033,266 | 5.9% | 2026-03-31 |
| Vanguard Portfolio Management, LLC | 53,878,755 | 5.67% | 2026-03-31 |
| Vanguard Real Estate Index Investor | 35,053,903 | 3.69% | 2026-08-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 30,129,287 | 3.17% | 2026-08-31 |
| Vanguard 500 Index Investor | 25,183,507 | 2.65% | 2026-08-31 |
| Geode Capital Management, LLC | 23,611,033 | 2.48% | 2026-03-31 |
| Cohen & Steers Inc | 22,841,902 | 2.4% | 2026-06-30 |
| JPMorgan Chase & Co | 20,601,983 | 2.17% | 2026-03-31 |
| Apg Investments Us Inc | 19,286,830 | 2.03% | 2026-06-30 |
| FMR Inc | 16,554,435 | 1.74% | 2026-03-31 |
| Capital Research Global Investors | 15,915,752 | 1.67% | 2026-06-30 |
| UBS Asset Mgmt Americas Inc | 14,135,417 | 1.49% | 2026-03-31 |
| Massachusetts Financial Services Company | 14,063,332 | 1.48% | 2026-03-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Prologis delivered resilient operational growth through the second quarter of 2026, generating $9.19 billion in trailing twelve-month revenue and raising full-year Core FFO guidance to a midpoint of $6.26 per share. This financial acceleration was powered by record leasing exceeding 67 million square feet and strong contractual rent markups on expiring leases. However, headline accounting earnings can be noisy due to periodic property sale gains and incentive fees. Trailing free cash flow of $5.24 billion demonstrates genuine operational cash health, but future growth per share will be more modest as historical below-market lease spreads gradually reset to current market levels.
Prologis delivered resilient operational growth through the second quarter of 2026, generating $9.19 billion in trailing twelve-month revenue and raising full-year Core FFO guidance to a midpoint of $6.26 per share. This financial acceleration was powered by record leasing exceeding 67 million square feet and strong contractual rent markups on expiring leases. However, headline accounting earnings can be noisy due to periodic property sale gains and incentive fees. Trailing free cash flow of $5.24 billion demonstrates genuine operational cash health, but future growth per share will be more modest as historical below-market lease spreads gradually reset to current market levels.
Revenue, Net Income, and Free Cash Flow
Latest: USD 8.8B | Max: USD 8.8B | Min: USD 887.9M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 37x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Prologis achieves strong underlying cash margins, reporting an operating margin around 40.2% and an impressive free cash flow margin of 57.0%. High tenant retention of roughly seventy-seven percent and contractual annual rent bumps allow the business to pass property tax and maintenance inflation directly to tenants. Reported profit margins fluctuated compared to peak pandemic years due to higher non-cash depreciation and changing development project mix. As high-yielding data center projects become fully operational, consolidated margins are expected to stabilize above historical warehouse averages, supporting durable long-term profitability.
Prologis achieves strong underlying cash margins, reporting an operating margin around 40.2% and an impressive free cash flow margin of 57.0%. High tenant retention of roughly seventy-seven percent and contractual annual rent bumps allow the business to pass property tax and maintenance inflation directly to tenants. Reported profit margins fluctuated compared to peak pandemic years due to higher non-cash depreciation and changing development project mix. As high-yielding data center projects become fully operational, consolidated margins are expected to stabilize above historical warehouse averages, supporting durable long-term profitability.
Profitability Margins
Latest: 59.6% | Max: 74.9% | Min: 26.4%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
59.6%
Gross profit / revenue
Operating Margin
40.2%
Operating income / revenue
Net Margin
38.8%
Net income / revenue
FCF Margin
57.0%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
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| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 2,533,135,000 | 1,209,932,000 | 1,315,328,000 |
| 2017-12-31 | 2,618,134,000 | 1,652,325,000 | 1,576,611,000 |
| 2018-12-31 | 2,804,449,000 | 1,649,361,000 | 887,861,000 |
| 2019-12-31 | 3,330,621,000 | 1,572,959,000 | 2,264,034,000 |
| 2020-12-31 | 4,438,735,000 | 1,481,814,000 | 1,688,711,000 |
| 2021-12-31 | 4,759,440,000 | 2,939,723,000 | 2,996,042,000 |
| 2022-12-31 | 5,973,692,000 | 3,364,856,000 | 4,126,430,000 |
| 2023-12-31 | 8,023,469,000 | 3,059,214,000 | 4,681,202,000 |
| 2024-12-31 | 8,201,610,000 | 3,731,635,000 | 4,912,209,000 |
| 2025-12-31 | 8,790,127,000 | 3,410,663,000 | 5,008,434,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 36.75 | Trailing four quarters |
| 2024-12-31 | 27.01 | Trailing four quarters |
| 2023-12-31 | 41.5 | Trailing four quarters |
| 2022-12-31 | 31.73 | Annual net income |
| 2021-12-31 | 43.8 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
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| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 72.47 | 26.39 | 47.76 | 51.92 |
| 2017-12-31 | 72.32 | 74.63 | 63.11 | 60.22 |
| 2018-12-31 | 72.98 | 60.19 | 58.81 | 31.66 |
| 2019-12-31 | 72.41 | 55.54 | 47.23 | 67.98 |
| 2020-12-31 | 73.64 | 47.74 | 33.38 | 38.04 |
| 2021-12-31 | 73.77 | 67.38 | 61.77 | 62.95 |
| 2022-12-31 | 74.74 | 58.05 | 56.33 | 69.08 |
| 2023-12-31 | 74.94 | 46.21 | 38.13 | 58.34 |
| 2024-12-31 | 74.92 | 53.84 | 45.5 | 59.89 |
| 2025-12-31 | 59.6 | 40.23 | 38.8 | 56.98 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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