Prologis, Inc. (PLD) Income Statement
PLD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPLD revenue and net income
Where PLD's revenue goes
2025Each bar shows an amount and its share of revenue. PLD kept 38.8% of revenue as net income.
PLD profit margins
PLD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.2% | +13.7% | +14.6% | +14.9% |
| Gross profit | −14.7% | +5.5% | +9.9% | +13.0% |
| Operating income | −19.9% | +0.7% | +10.8% | +25.0% |
| Net income | −8.6% | +0.5% | +18.1% | +14.6% |
| EPS (diluted) | −13.0% | −6.4% | +11.5% | +7.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PLD quarterly EPS vs estimates
Prologis beat the analyst EPS estimate in 6 of the last 8 quarters.
PLD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.79B | $8.20B | $8.02B | $5.97B | $4.76B | $4.44B | $3.33B | $2.80B | $2.62B | $2.53B |
| Cost of revenue | $3.55B | $2.06B | $2.01B | $1.51B | $1.25B | $1.17B | $918.9M | $757.7M | $724.7M | $697.4M |
| Gross profit | $5.24B | $6.14B | $6.01B | $4.46B | $3.51B | $3.27B | $2.41B | $2.05B | $1.89B | $1.84B |
| Research & development | — | — | $0 | $1 | $1 | $0 | $1 | $1 | $1 | $1 |
| Sales, general & admin | $477.8M | $418.8M | $390.4M | $331.1M | $293.2M | $274.8M | $266.7M | $239.0M | $231.1M | $222.1M |
| Total operating expenses | $1.70B | $1.73B | $2.31B | $997.1M | $304.0M | $1.15B | $561.9M | $358.8M | −$60.6M | $1.17B |
| Operating income | $3.54B | $4.42B | $3.71B | $3.47B | $3.21B | $2.12B | $1.85B | $1.69B | $1.95B | $668.4M |
| Interest income | $585.0M | $301.6M | $246.9M | $243.5M | $303.3M | $183.6M | $24.2M | $14.7M | $13.7M | $8.1M |
| Interest expense | $1.00B | $837.3M | $618.7M | $309.0M | $266.2M | $313.5M | $226.7M | $215.9M | $260.0M | $287.7M |
| Income before taxes | $3.77B | $4.11B | $3.46B | $3.69B | $3.32B | $1.75B | $1.78B | $1.89B | $1.82B | $1.35B |
| Income taxes | $204.0M | $166.9M | $211.0M | $135.4M | $174.3M | $130.5M | $74.5M | $63.3M | $54.6M | $54.6M |
| Net income | $3.41B | $3.73B | $3.06B | $3.36B | $2.94B | $1.48B | $1.57B | $1.65B | $1.65B | $1.21B |
| EBITDA | $7.20B | $7.53B | $6.57B | $5.80B | $5.15B | $3.61B | $3.14B | $3.05B | $2.95B | $2.57B |
| EPS (diluted) | $3.48 | $4.00 | $3.29 | $4.24 | $3.94 | $2.02 | $2.47 | $2.84 | $2.00 | $2.25 |
| Gross margin | 59.6% | 74.9% | 74.9% | 74.7% | 73.8% | 73.6% | 72.4% | 73.0% | 72.3% | 72.5% |
| Operating margin | 40.2% | 53.8% | 46.2% | 58.0% | 67.4% | 47.7% | 55.5% | 60.2% | 74.6% | 26.4% |
| Net margin | 38.8% | 45.5% | 38.1% | 56.3% | 61.8% | 33.4% | 47.2% | 58.8% | 63.1% | 47.8% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.39B | $2.43B | $2.30B | $2.25B | $2.21B | $2.18B | $2.14B | $2.20B | $2.04B | $2.01B | $1.96B | $1.89B |
| Cost of revenue | $2.02B | $2.01B | $2.07B | $1.25B | $1.20B | $552.9M | $549.1M | $519.6M | $488.8M | $515.8M | $533.1M | $487.1M |
| Gross profit | $371.0M | $420.0M | $232.5M | $1.01B | $1.01B | $1.63B | $1.59B | $1.68B | $1.55B | $1.49B | $1.42B | $1.40B |
| Sales, general & admin | — | $129.6M | $126.9M | $136.9M | $119.4M | $106.9M | $114.7M | $102.7M | $98.2M | $106.6M | $111.3M | $98.3M |
| Total operating expenses | −$565.7M | −$539.7M | −$594.5M | $152.8M | $119.4M | $718.3M | $712.2M | $259.8M | $296.7M | $468.8M | $703.2M | $567.3M |
| Operating income | $936.7M | $959.7M | $827.0M | $852.4M | $892.6M | $912.7M | $878.4M | $1.42B | $1.25B | $1.02B | $720.4M | $834.9M |
| Interest income | — | — | — | $58.1M | $64.5M | $267.0M | $195.5M | $7.8M | — | — | — | — |
| Interest expense | $287.0M | $276.3M | $254.3M | $260.5M | $258.3M | $251.9M | $232.0M | $205.3M | $230.1M | $208.3M | $193.0M | $174.3M |
| Income before taxes | $977.9M | $1.23B | $1.09B | $1.56B | $875.8M | $645.7M | $682.9M | $1.43B | $1.07B | $954.6M | $663.6M | $734.4M |
| Income taxes | $98.0M | $108.2M | $48.0M | $82.7M | $54.5M | $23.4M | $43.4M | $86.9M | $4.2M | $43.1M | $32.8M | $58.5M |
| Net income | $817.1M | $1.06B | $982.0M | $1.40B | $764.3M | $571.2M | $593.0M | $1.28B | $1.01B | $861.3M | $585.7M | $630.9M |
| EBITDA | $1.98B | $2.20B | $2.08B | $2.30B | $1.78B | $1.55B | $1.57B | $2.29B | $1.95B | $1.80B | $1.49B | $1.52B |
| EPS (diluted) | $1.60 | $1.63 | $1.02 | $1.46 | $0.80 | $0.60 | $0.62 | $1.37 | $1.08 | $0.92 | $0.63 | $0.68 |
| Gross margin | 15.5% | 17.3% | 10.1% | 44.6% | 45.7% | 74.7% | 74.3% | 76.4% | 76.0% | 74.3% | 72.8% | 74.2% |
| Operating margin | 39.2% | 39.6% | 36.0% | 37.8% | 40.3% | 41.8% | 41.1% | 64.6% | 61.4% | 51.0% | 36.8% | 44.2% |
| Net margin | 34.2% | 43.8% | 42.7% | 62.1% | 34.5% | 26.2% | 27.7% | 58.1% | 49.4% | 42.9% | 29.9% | 33.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PLD's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PLD financial results
In fiscal year 2025 (ended December 31, 2025), Prologis reported revenue of $8.8 billion, up 7.2% from the year before. It had net income of $3.4 billion (down 8.6%), a net profit margin of 38.8%. Diluted earnings per share came to $3.48. Over five years revenue grew at an average rate of 14.6% a year.
See the PLD stock overview for the latest quote and news, or the PLD chart for price history and technical indicators.
PLD income statement FAQ
What is Prologis's annual revenue?
Prologis reported total revenue of $8.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.2% from $8.2 billion the previous year.
Is Prologis profitable?
Yes. Prologis reported net income of $3.4 billion in fiscal 2025, a net profit margin of 38.8%; its operating margin was 40.2%.
What is Prologis's gross margin?
Prologis's gross margin was 59.6% in fiscal 2025: for every $100 of revenue, Prologis kept $60 after the direct cost of its products and services.
How fast is Prologis growing?
Revenue grew 14.6% a year on average over the last five fiscal years, from $4.4 billion to $8.8 billion.
What are Prologis's earnings per share?
Prologis earned $3.48 per diluted share in fiscal 2025, compared with $4.00 a year earlier.
When does Prologis's fiscal year end?
Prologis's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.