Prologis

Real Estate Industrial REITs San Francisco, California Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2025
                
$8.8B
                    3y CAGR +13.7%
                    
                    P80
                    
                    +7.2%
                    
                    Net income
                    FY2025
                
$3.3B
                    Net margin +37.9%
                    
                    P90
                    
                    -10.8%
                    
                    Total assets
                    FY2025
                
$98.7B
                    ROA +3.4%
                    
                    P52
                    
                    +3.6%
                    
                    Operating cash flow
                    FY2025
                
$5.0B
                    
                    +2.0%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

23 accounts · 5 years

Total assets $98.7B

Total liabilities $41.0B

Shareholders equity $53.2B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	1.2%	1.4%	0.6%	0.3%	1.0%
Other Current Assets	6.0%	5.4%	5.1%	5.5%	5.7%
Operating Lease Assets	0.7%	0.7%	0.7%	0.8%	0.8%
Intangible Assets	0.0%	1.7%	1.5%	0.0%	0.0%
Other Noncurrent Assets	6.0%	5.4%	5.1%	5.5%	5.7%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Current Portion of Long Term Debt	35.5%	32.4%	31.2%	27.2%	30.3%
Operating Lease Liabilities	0.7%	0.6%	0.6%	0.7%	0.8%
Other Current Liabilities	4.0%	4.3%	4.8%	5.1%	3.0%
Total Current Liabilities	41.5%	38.5%	37.8%	34.2%	35.5%
Long Term Debt	35.5%	32.4%	31.2%	27.2%	30.3%
Operating Lease Liabilities Noncurrent	0.7%	0.6%	0.6%	0.7%	0.8%
Deferred Tax Liabilities	0.0%	0.1%	0.1%	0.1%	0.2%
Other Noncurrent Liabilities	4.0%	4.3%	4.8%	5.1%	3.0%
Total Liabilities	41.5%	38.5%	37.8%	34.2%	35.5%
Equity
Preferred Stock	0.1%	0.1%	0.1%	0.1%	0.1%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	55.4%	57.1%	58.3%	61.5%	60.8%
Retained Earnings	-0.9%	-0.5%	-0.7%	-0.5%	-2.3%
Accumulated Other Comprehensive Income	-0.7%	-0.1%	-0.6%	-0.5%	-1.5%
Noncontrolling Interest	4.6%	4.9%	5.0%	5.3%	7.4%
Total Stockholders Equity	53.9%	56.6%	57.2%	60.6%	57.2%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	—	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $8.8B

Operating income $4.4B

Net income $3.3B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	8.9%	8.6%	8.6%	6.8%	8.1%
Expenses Selling,General and Administrative	0.5%	0.4%	0.4%	0.4%	0.5%
Expenses Depreciation and Amortization	2.7%	2.7%	2.7%	2.1%	2.7%
Expenses Share Based Compensation	0.2%	0.2%	0.3%	0.2%	0.2%
Expenses Operating Expenses	-2.3%	-2.2%	-2.2%	-1.8%	—
Other Income Expense Operating Income	4.4%	4.6%	4.0%	3.9%	5.5%
Other Income Expense Interest Expense	1.0%	0.9%	0.7%	0.4%	0.5%
Other Income Expense Income Before Tax	3.8%	4.3%	3.7%	4.2%	5.7%
Income Tax Income Tax Expense	0.2%	0.2%	0.2%	0.2%	0.3%
net Income net Income	3.4%	3.9%	3.3%	3.8%	5.0%
net Income Comprehensive Income	2.8%	4.3%	3.2%	4.3%	5.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.9%	1.0%	1.0%	0.9%	1.3%
Earnings Per Share Weighted Average Shares Diluted	1.0%	1.0%	1.0%	0.9%	1.3%

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 5 years

Operating cash flow $5.0B

Investing cash flow $-3.6B

Financing cash flow $-1.6B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	3.4%	3.9%	3.3%	3.8%	5.0%
Operating Activities Depreciation and Amortization	2.7%	2.7%	2.7%	2.1%	2.7%
Operating Activities Stock Based Compensation	0.2%	0.2%	0.3%	0.2%	0.2%
Operating Activities Deferred Income Taxes	0.0%	0.0%	0.0%	0.0%	0.0%
Operating Activities net Cash From Operating Activities	5.1%	5.2%	5.8%	4.7%	5.1%
Investing Activities Business Acquisitions	0.0%	0.0%	0.0%	0.1%	0.0%
Investing Activities net Cash From Investing Activities	-3.7%	-3.3%	-6.9%	-5.1%	-3.4%
Financing Activities Dividends Paid	3.8%	3.7%	3.5%	2.8%	3.2%
Financing Activities Tax Withholding On Stock Based Compensation	0.0%	0.0%	0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-1.6%	-1.0%	1.4%	0.1%	-1.7%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.0%	-0.0%	-0.0%	-0.1%
Cash Reconciliation net Change In Cash	-0.2%	0.8%	0.3%	-0.3%	-0.1%
Cash Reconciliation Cash At Beginning of Period	1.2%	1.4%	0.6%	0.3%	1.0%
Cash Reconciliation Cash At End of Period	1.2%	1.4%	0.6%	0.3%	1.0%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	+49.6%	+53.8%	+46.2%	+58.0%	+67.4%
Net margin	+37.9%	+45.5%	+38.1%	+56.3%	+61.8%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+13.7%	+19.9%	+21.8%	+21.5%	+19.3%
Returns
ROE	+6.3%	+6.9%	+5.8%	+6.3%	+8.8%
ROA	+3.4%	+3.9%	+3.3%	+3.8%	+5.0%
ROIC	+3.4%	+3.7%	+3.1%	+3.3%	+4.4%
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	—	0.05x	0.02x	0.02x	0.05x
Leverage
D/E	0.77x	0.68x	0.66x	0.56x	0.62x
Interest coverage	4.35x	5.11x	5.78x	11.22x	12.05x
Efficiency
Asset turnover	0.09x	0.09x	0.09x	0.07x	0.08x
Cash conversion cycle	—	—	—	—	—

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FY2025 fundamentals · no price

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Prologis

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