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 revenue.

Balance Sheet

Assets, liabilities, and equity

23 accounts · 3 years

Total assets $98.7B

Total liabilities $41.0B

Shareholders equity $53.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	13.0%	16.1%	6.6%
Other Current Assets	66.9%	63.3%	59.2%
Operating Lease Assets	7.6%	8.6%	8.5%
Intangible Assets	0.0%	19.5%	17.4%
Other Noncurrent Assets	66.9%	63.3%	59.2%
Total Assets	1123.1%	1162.3%	1159.4%
Liabilities
Current Portion of Long Term Debt	398.6%	376.5%	361.4%
Operating Lease Liabilities	7.3%	7.5%	7.4%
Other Current Liabilities	45.2%	49.5%	55.2%
Total Current Liabilities	466.1%	447.6%	438.7%
Long Term Debt	398.6%	376.5%	361.4%
Operating Lease Liabilities Noncurrent	7.3%	7.5%	7.4%
Deferred Tax Liabilities	0.0%	1.7%	1.5%
Other Noncurrent Liabilities	45.2%	49.5%	55.2%
Total Liabilities	466.1%	447.6%	438.7%
Equity
Preferred Stock	0.7%	0.8%	0.8%
Common Stock	0.1%	0.1%	0.1%
Additional Paid In Capital	622.3%	664.1%	676.1%
Retained Earnings	-10.3%	-5.7%	-7.8%
Accumulated Other Comprehensive Income	-7.7%	-1.5%	-6.4%
Noncontrolling Interest	51.9%	56.9%	57.9%
Total Stockholders Equity	605.1%	657.8%	662.8%
Total Liabilitiesand Equity	1123.1%	1162.3%	1159.4%

Income Statement

Revenue, expense, and profitability

15 accounts · 3 years

Revenue $8.8B

Operating income $4.4B

Net income $3.3B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Selling,General and Administrative	5.3%	5.1%	4.9%
Expenses Depreciation and Amortization	29.9%	31.5%	31.0%
Expenses Share Based Compensation	2.1%	2.8%	3.3%
Expenses Operating Expenses	-25.9%	-25.7%	-25.7%
Other Income Expense Operating Income	49.6%	53.8%	46.2%
Other Income Expense Interest Expense	11.4%	10.5%	8.0%
Other Income Expense Income Before Tax	42.9%	50.2%	43.2%
Income Tax Income Tax Expense	2.3%	2.0%	2.6%
net Income net Income	37.9%	45.5%	38.1%
net Income Comprehensive Income	31.5%	50.3%	37.2%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	10.6%	11.3%	11.5%
Earnings Per Share Weighted Average Shares Diluted	10.9%	11.6%	11.9%

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 3 years

Operating cash flow $5.0B

Investing cash flow $-3.6B

Financing cash flow $-1.6B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	37.9%	45.5%	38.1%
Operating Activities Depreciation and Amortization	29.9%	31.5%	31.0%
Operating Activities Stock Based Compensation	2.1%	2.8%	3.3%
Operating Activities Deferred Income Taxes	0.0%	0.3%	0.2%
Operating Activities net Cash From Operating Activities	57.0%	59.9%	67.0%
Investing Activities Business Acquisitions	0.0%	0.0%	0.4%
Investing Activities net Cash From Investing Activities	-41.3%	-37.8%	-80.0%
Financing Activities Dividends Paid	42.8%	43.5%	40.2%
Financing Activities Tax Withholding On Stock Based Compensation	0.3%	0.4%	0.3%
Financing Activities net Cash From Financing Activities	-17.8%	-12.2%	16.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.3%	-0.3%
Cash Reconciliation net Change In Cash	-2.0%	9.6%	3.1%
Cash Reconciliation Cash At Beginning of Period	13.0%	16.1%	6.6%
Cash Reconciliation Cash At End of Period	13.0%	16.1%	6.6%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	+49.6%	+53.8%	+46.2%
Net margin	+37.9%	+45.5%	+38.1%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+13.7%	+19.9%	+21.8%
Returns
ROE	+6.3%	+6.9%	+5.8%
ROA	+3.4%	+3.9%	+3.3%
ROIC	+3.4%	+3.7%	+3.1%
Liquidity
Current ratio	—	—	—
Quick ratio	—	0.05x	0.02x
Leverage
D/E	0.77x	0.68x	0.66x
Interest coverage	4.35x	5.11x	5.78x
Efficiency
Asset turnover	0.09x	0.09x	0.09x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Prologis

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