Prologis (PLD) AI Stock Analysis

• Market Cap: $119.83B
• Dividend Yield: 3.17%
• Average Volume (3M): 3.59M
• Price to Earnings (P/E): 36.7
• Beta (1Y): 1.03
• Revenue Growth: 10.75%
• EPS Growth: 4.29%
• Country: US
• Employees: 2,703
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 0.82
• Shares Outstanding: 928,664,000
• 10 Day Avg. Volume: 4,015,278
• 30 Day Avg. Volume: 3,589,574
• PEG Ratio: 1.19
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 11.94
• P/FCF Ratio: 19.93
• Enterprise Value/Market Cap: 1.24
• Enterprise Value/Revenue: 17.32
• Enterprise Value/Gross Profit: 22.98
• Enterprise Value/Ebitda: 20.14
• 1Y Price Target: $125.17
• Price Target Upside: -0.62% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 14

• Rating: 79 Outperform
• Price Target: $132.00 ▲(4.80% Upside)

Prologis demonstrates strong financial performance with robust cash flow and profitability margins, which are key strengths. The positive earnings call with record leasing activity and data center expansion further supports the stock's outlook. However, the high P/E ratio suggests potential overvaluation, and rising debt levels require careful management. Technical indicators show a positive trend, but the valuation remains a concern.

Positive Factors

Record Leasing Activity

The record leasing activity indicates strong demand and improved customer sentiment, which supports long-term revenue stability and growth.

Data Center Expansion

Expanding data center capacity represents a significant investment opportunity, enhancing Prologis's market position in a growing sector.

Strong Cash Flow

Robust cash flow generation supports operational and financial strategies, providing flexibility for growth and debt management.

Negative Factors

Rising Debt Levels

Higher debt levels can strain financial flexibility and increase risk, especially if not managed carefully, impacting long-term stability.

Elevated Bad Debt Expense

Elevated bad debt expenses can reduce profitability and indicate potential issues with tenant credit quality, affecting financial health.

Market Rent Declines

Continued market rent declines suggest softness in some markets, which could pressure revenue growth and profitability if trends persist.

Prologis Business Overview & Revenue Model

Company Description

Prologis, Inc. (NYSE: PLD) is a leading global logistics real estate investment trust (REIT) headquartered in San Francisco, California. The company focuses on the development, acquisition, and management of industrial properties, primarily in high-demand markets. Prologis specializes in logistics facilities that support the supply chain needs of various sectors, including e-commerce, retail, and consumer goods, offering a range of core products such as warehouses and distribution centers.

How the Company Makes Money

Prologis generates revenue primarily through leasing its industrial properties to a diverse clientele, including logistics companies, retailers, and manufacturers. The company earns rental income from long-term leases, which provide a stable cash flow. Additionally, Prologis benefits from property management fees and development profits when it builds new facilities or redevelops existing ones. Strategic partnerships with major e-commerce and logistics firms also enhance its market position and contribute to its earnings, as these companies often seek high-quality, strategically located distribution centers to optimize their supply chains. Furthermore, Prologis engages in joint ventures and co-investments, which allow it to share risks and returns while expanding its portfolio.

Prologis Financial Statement Overview

Summary

Prologis demonstrates strong financial health with consistent revenue growth and high profitability margins. The balance sheet is stable with moderate leverage, though rising debt levels warrant attention. Cash flow generation is robust, supporting the company's operational and financial strategies.

Income Statement

Prologis demonstrates strong revenue growth with a TTM revenue increase of 2.1%. The company maintains high profitability with a gross profit margin of 75.3% and a net profit margin of 40.3%. EBIT and EBITDA margins are robust at 55.4% and 85.9%, respectively, indicating efficient operations. However, the net profit margin has slightly decreased from the previous year, suggesting potential cost pressures.

Balance Sheet

The balance sheet reflects a healthy debt-to-equity ratio of 0.66, indicating moderate leverage. Return on equity is stable at 6.5%, showing consistent profitability. The equity ratio stands at 54%, suggesting a solid equity base. However, the increase in total debt over the years could pose a risk if not managed carefully.

Cash Flow

Prologis shows a positive free cash flow growth rate of 7.5% TTM, highlighting strong cash generation capabilities. The operating cash flow to net income ratio is 2.41, indicating efficient cash conversion. The free cash flow to net income ratio remains at 1.0, suggesting all net income is converted into free cash flow. Despite these strengths, the reliance on operating cash flow for free cash flow generation could be a concern if operational performance declines.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	8.56B	8.20B	8.02B	5.97B	4.76B	4.44B
Gross Profit	6.45B	6.14B	6.01B	4.46B	3.51B	3.27B
EBITDA	7.36B	7.53B	6.57B	5.80B	5.15B	3.61B
Net Income	3.45B	3.73B	3.06B	3.36B	2.94B	1.48B
Balance Sheet
Total Assets	97.72B	95.33B	93.02B	87.90B	58.49B	56.07B
Cash, Cash Equivalents and Short-Term Investments	1.07B	1.32B	530.39M	278.48M	556.12M	598.09M
Total Debt	34.67B	31.49B	29.60B	24.51B	18.16B	17.34B
Total Liabilities	40.41B	36.71B	35.20B	30.03B	20.74B	19.74B
Stockholders Equity	52.73B	53.95B	53.18B	53.24B	33.43B	31.97B
Cash Flow
Free Cash Flow	5.17B	4.91B	5.37B	3.58B	2.50B	1.69B
Operating Cash Flow	5.17B	4.91B	5.37B	4.13B	3.00B	2.94B
Investing Cash Flow	-3.98B	-3.10B	-6.42B	-4.50B	-1.99B	-3.07B
Financing Cash Flow	-740.16M	-999.96M	1.32B	115.79M	-1.01B	-372.16M

Prologis Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 125.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLD, the sentiment is Positive. The current price of 125.95 is above the 20-day moving average (MA) of 117.79, above the 50-day MA of 113.77, and above the 200-day MA of 109.19, indicating a bullish trend. The MACD of 3.28 indicates Negative momentum. The RSI at 69.02 is Neutral, neither overbought nor oversold. The STOCH value of 93.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PLD.

Prologis Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLD	79 Outperform	$119.83B	36.68	―	3.17%	10.75%	4.29%
FR	77 Outperform	$7.58B	31.05	8.97%	3.06%	9.66%	-23.17%
LXP	74 Outperform	$2.84B	34.66	4.15%	5.68%	6.64%	210.89%
TRNO	73 Outperform	$6.36B	24.50	6.85%	3.25%	22.17%	40.80%
STAG	73 Outperform	$7.35B	30.50	6.89%	3.86%	8.56%	22.20%
REXR	71 Outperform	$10.11B	30.60	4.03%	3.97%	10.27%	15.25%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Prologis Corporate Events

Prologis, Inc. Reports Strong Q3 2025 Results

Prologis, Inc. is a leading global logistics real estate company that specializes in creating and managing supply chain infrastructure, with a focus on sustainable and innovative solutions. The company operates across various regions, providing essential logistics facilities and services.

Prologis, Inc. Reports Strong Earnings and Growth

Prologis, Inc. recently held its earnings call, revealing a strong quarter marked by record leasing activity, significant advancements in its data center business, and robust financial performance. Despite some challenges, such as elevated bad debt expenses and market rent declines, the overall outlook remains positive with improving demand and strategic growth initiatives underway.

Prologis Reports Q3 2025 Financial Results Growth

On October 15, 2025, Prologis, Inc. announced its financial results for the third quarter of 2025, highlighting a total revenue increase to $2.214 billion from $2.036 billion in the same period the previous year. Despite a decrease in net earnings attributable to common stockholders from $1.004 billion to $763 million, the company reported a rise in Core FFO to $1.426 billion. The announcement reflects Prologis’ continued growth in logistics real estate, with significant investments and developments in high-demand markets, impacting stakeholders positively by enhancing its market position and operational scale.

The most recent analyst rating on (PLD) stock is a Buy with a $130.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Reports Q3 2025 Financial Results

On October 15, 2025, Prologis, Inc. announced its financial results for the third quarter of 2025, reporting total revenues of $2.214 billion, an increase from $2.036 billion in the same period of 2024. Despite a decrease in net earnings attributable to common stockholders from $1.004 billion in 2024 to $763 million in 2025, the company’s Core FFO increased to $1.426 billion from $1.367 billion. The announcement highlights the company’s continued growth in strategic capital revenues and development stabilizations, emphasizing its strong market position and impact on stakeholders.

The most recent analyst rating on (PLD) stock is a Buy with a $130.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Completes €1 Billion Notes Issuance

On September 22, 2025, Prologis Euro Finance LLC and Prologis, L.P. completed the issuance and sale of €1 billion in Notes, divided equally between 3.250% Notes due 2032 and 3.875% Notes due 2037. The net proceeds of approximately €989.2 million will be used by the Operating Partnership for general corporate purposes, including debt repayment. The Notes, which are senior unsecured obligations, are guaranteed by the Operating Partnership and come with specific redemption options and restrictions on incurring additional indebtedness.

The most recent analyst rating on (PLD) stock is a Buy with a $129.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Completes €1 Billion Notes Issuance

On September 22, 2025, Prologis Euro Finance LLC and Prologis, L.P. completed the issuance and sale of €1 billion in Notes, divided equally between 2032 and 2037 maturities, with interest rates of 3.250% and 3.875% respectively. The net proceeds, estimated at approximately €989.2 million, will be used by the Operating Partnership for general corporate purposes, including debt repayment. The issuance aims to strengthen Prologis’ financial position and flexibility, with the Notes being senior unsecured obligations guaranteed by the Operating Partnership.

The most recent analyst rating on (PLD) stock is a Buy with a $129.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Announces Upcoming Chief Accounting Officer Change

On September 18, 2025, Prologis, Inc. announced the retirement of Lori Palazzolo as Chief Accounting Officer, effective April 1, 2026. Trisha Burns, who has been with the company since 2010 and currently serves as Senior Vice President, Global Accounting and Financial Reporting, will take over the role. This transition is expected to ensure continuity in the company’s financial operations.

The most recent analyst rating on (PLD) stock is a Buy with a $130.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.

Prologis Announces Upcoming Change in Accounting Leadership

On September 18, 2025, Prologis, Inc. announced the retirement of Lori Palazzolo as Chief Accounting Officer, effective April 1, 2026. Trisha Burns, who has been with the company since 2010 and currently serves as Senior Vice President, Global Accounting and Financial Reporting, will assume the role on the same date. This transition is expected to ensure continuity in the company’s accounting leadership.

The most recent analyst rating on (PLD) stock is a Buy with a $130.00 price target. To see the full list of analyst forecasts on Prologis stock, see the PLD Stock Forecast page.