Prologis, Inc. (PLD) AI Stock Analysis

Prologis, Inc. stands as the foremost global provider of logistics real estate, specializing in high-barrier, high-growth markets. By the end of 2020, the company had established ownership or co-investment interests in properties and development projects encompassing approximately 984 million square feet across 19 countries. Prologis focuses on leasing modern logistics facilities to roughly 5,500 customers across two primary segments: business-to-business and retail/online fulfillment. Its properties support global supply chains, e-commerce, distribution, and manufacturing operations, delivering scalable real estate solutions designed for operational efficiency.

Prologis grew annual revenue from $4.76B in FY2021 to $8.79B in FY2025, recording a 5-year revenue CAGR of 14.6%. Growth peaked in FY2023 at 34.3% before moderating to 2.2% in FY2024 and 7.2% in FY2025. Gross margin decreased from 74.9% in FY2024 to 59.6% in FY2025, while operating margin shifted from 53.8% to 40.2%. Annual net income was $3.41B in FY2025 with an EPS of $3.48, compared to $3.73B and $4.00 in FY2024. For the latest quarter ended September 30, 2026, quarterly revenue grew 10.2% year-over-year, and quarterly earnings grew 3.1%, bringing trailing twelve months revenue to $9.89B and EPS to $4.54.

As of June 30, 2026, Prologis held $1.77B in cash and short-term investments against total debt of $36.44B, resulting in net debt of $34.68B. Total assets stood at $101.01B against shareholders' equity of $53.73B, with a debt-to-equity ratio of 0.68 and a current ratio of 0.70. Operating cash flow reached $5.01B in FY2025, matching free cash flow of $5.01B. Capital expenditures were $4.91B, dividends paid totaled $3.76B, and share buybacks equaled $23.9M.

Prologis carries a market capitalization of $122.24B and an enterprise value of $162.05B. Its trailing P/E of 27.7x and forward P/E of 29.2x trade below the median of its S&P 500 Real Estate peers at 30.6x and 30.4x, respectively. However, its price-to-sales of 12.4x and EV-to-EBITDA of 19.0x sit above peer medians of 7.0x and 17.2x. Over the past year, the stock returned 7.0%, trailing the S&P 500 return of 16.8%. Over five years, the stock gained 6.4% compared to an 83.0% gain for the broader index.

Prologis pays a quarterly dividend with a forward annualized payout of $4.28 per share, representing a 3.40% dividend yield. The company maintains a payout ratio of 64.8% and has paid dividends for 30 consecutive years. Its 5-year annualized dividend growth rate is 11.7%, with its last ex-dividend date on September 16, 2026.

Wall Street coverage includes 7 Strong Buy, 4 Buy, and 6 Hold ratings, with zero Sell or Strong Sell recommendations. The mean price target is $155.85, indicating a 23.9% upside from the last close of $125.75. Consensus calls for current fiscal year EPS of $3.08 on revenue of $8.77B, representing an 11.4% EPS decline. For the next fiscal year ending December 31, 2027, 2 analysts project 8.8% EPS growth to $3.35 on revenue of $9.49B. The company beat EPS estimates in all 4 of the last 4 quarters.

This page is an AI-written research summary of Prologis, Inc. (PLD). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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