Prologis (PLD) Financials

$98.38 +0.08 (+0.08%)

As of 03:04 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	863	1,203	1,642	1,643	1,567	1,473	2,934	3,359	3,053	3,726
Consolidated Net Income / (Loss)	926	1,293	1,761	1,823	1,702	1,617	3,149	3,555	3,253	3,948
Net Income / (Loss) Continuing Operations	926	1,293	1,761	1,823	1,702	1,617	3,149	3,555	3,253	3,948
Total Pre-Tax Income	949	1,347	1,816	1,886	1,776	1,747	3,323	3,691	3,464	4,115
Total Operating Income	380	668	1,954	1,688	1,850	2,119	3,207	3,468	3,708	4,416
Total Gross Profit	1,653	1,964	2,049	2,204	2,596	3,487	3,718	4,768	6,399	6,436
Total Revenue	2,197	2,533	2,618	2,804	3,331	4,439	4,759	5,974	8,023	8,202
Operating Revenue	2,197	2,533	2,618	2,804	3,331	4,439	4,759	5,974	8,023	8,202
Total Cost of Revenue	544	569	570	601	734	952	1,041	1,206	1,625	1,765
Operating Cost of Revenue	544	569	570	601	734	952	1,041	1,206	1,625	1,765
Total Operating Expenses	1,273	1,296	95	516	747	1,368	511	1,300	2,691	2,020
Selling, General & Admin Expense	284	236	243	253	280	305	316	371	444	466
Depreciation Expense	880	931	879	947	1,140	1,562	1,578	1,813	2,485	2,581
Other Operating Expenses / (Income)	108	129	-700	-214	-206	-34	-565	-286	225	-612
Other Special Charges / (Income)	-	-	-328	-470	-468	-465	-817	-598	-462	-414
Total Other Income / (Expense), net	568	679	-138	198	-73	-372	116	223	-244	-301
Interest Expense	388	301	343	232	256	503	454	329	638	863
Interest & Investment Income	159	206	249	298	200	297	404	311	307	354
Other Income / (Expense), net	797	773	-44	132	-18	-166	165	242	87	209
Income Tax Expense	23	55	55	63	75	130	174	135	211	167
Preferred Stock Dividends Declared	6.65	6.71	10	5.94	6.01	8.69	6.15	6.06	5.84	5.88
Net Income / (Loss) Attributable to Noncontrolling Interest	56	83	109	174	129	135	209	191	194	216
Basic Earnings per Share	$1.66	$2.29	$3.10	$2.90	$2.48	$2.02	$3.97	$4.28	$3.30	$4.02
Weighted Average Basic Shares Outstanding	521.24M	526.10M	530.40M	567.37M	630.58M	728.32M	739.36M	785.68M	924.35M	926.17M
Diluted Earnings per Share	$1.64	$2.27	$3.06	$2.87	$2.46	$2.01	$3.94	$4.25	$3.29	$4.01
Weighted Average Diluted Shares Outstanding	533.94M	546.67M	552.30M	590.24M	654.90M	754.41M	764.76M	811.61M	951.79M	953.59M
Weighted Average Basic & Diluted Shares Outstanding	524.77M	529.35M	533.05M	630.35M	738.74M	739.50M	740M	923.43M	924.88M	926.86M

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

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

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

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	199	-358	244	-58	206	-141	-30	98	183	538
Net Cash From Operating Activities	1,203	1,278	1,114	1,215	1,969	1,074	1,055	1,086	1,435	1,335
Net Cash From Continuing Operating Activities	1,203	1,278	1,114	1,215	1,969	1,074	1,055	1,086	1,435	1,335
Net Income / (Loss) Continuing Operations	1,069	620	499	1,279	799	676	631	912	1,063	1,342
Consolidated Net Income / (Loss)	1,069	620	499	1,279	799	676	631	912	1,063	1,342
Depreciation Expense	401	612	602	602	642	638	638	637	649	656
Amortization Expense	-32	-143	-126	-131	-154	-127	-141	-124	-147	-154
Non-Cash Adjustments To Reconcile Net Income	-505	415	176	-764	561	31	73	-231	-233	-534
Changes in Operating Assets and Liabilities, net	270	-226	-37	229	121	-143	-145	-107	101	25
Net Cash From Investing Activities	-1,252	-1,288	-1,049	-3,464	-699	-1,207	-1,084	-624	-1,711	320
Net Cash From Continuing Investing Activities	-1,252	-1,288	-1,049	-3,464	-699	-1,207	-1,084	-624	-1,711	320
Purchase of Property, Plant & Equipment	-363	-260	-52	-3,397	-200	-547	-126	-399	-1,295	-507
Purchase of Investments	-	-2.69	-	-	-0.16	-2.07	-	-	-	-1.65
Sale of Property, Plant & Equipment	68	342	55	720	536	454	200	851	738	2,001
Sale and/or Maturity of Investments	40	33	26	283	26	86	12	18	37	7.50
Other Investing Activities, net	-998	-1,307	-1,075	-1,051	-1,055	-1,194	-1,169	-1,093	-1,191	-1,180
Net Cash From Financing Activities	258	-372	172	2,280	-1,048	-84	2.39	-356	445	-1,092
Net Cash From Continuing Financing Activities	258	-372	172	2,213	-1,051	-14	2.39	-356	445	-1,093
Repayment of Debt	-203	-260	-1,429	242	-412	759	-860	-528	136	-398
Repurchase of Common Equity	-6.31	-50	-60	-124	-13	69	-13	-7.42	-9.22	-4.30
Payment of Dividends	-641	-782	-865	-867	-866	-866	-962	-984	-959	-961
Issuance of Debt	1,109	722	2,545	2,960	242	8.12	1,858	1,159	1,267	222
Issuance of Common Equity	0.84	1.37	0.00	1.70	0.06	19	1.27	4.76	15	52
Other Financing Activities, net	-1.46	-2.26	-19	0.21	-1.34	-4.72	-22	-0.21	-4.97	-3.63
Effect of Exchange Rate Changes	-10	24	6.47	-22	-13	6.39	-3.58	-9.06	14	-26

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

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

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

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

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

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

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.

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 4/15/2025 by MarketBeat.com Staff

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Prologis (PLD) Financials

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