Prologis

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

                    Revenue
                    FY2025
                
$8.8B
                    3y CAGR +13.7%
                    
                    P79
                    
                    +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
                    FCF margin -5.3%
                    
                    P38
                    
                    +2.0%

17 yrs · FY2009–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

15 accounts · 3 years

Total assets $98.7B

Total liabilities $41.0B

Shareholders equity $53.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-13.1%	+148.9%	—
Real Estate	+2.4%	+1.0%	—
Other Noncurrent Assets	+10.7%	+5.2%	—
Total Assets	+3.6%	+2.5%	—
Liabilities
Long Term Debt	+13.5%	+6.5%	—
Other Noncurrent Liabilities	+1.7%	-5.9%	—
Total Liabilities	+11.6%	+4.3%	—
Equity
Total Stockholders Equity	-1.4%	+1.4%	—
Preferred Stock	+0.0%	+0.0%	—
Common Stock	+0.3%	+0.2%	—
Additional Paid In Capital	+0.4%	+0.4%	—
Retained Earnings	-93.7%	+25.7%	—
Accumulated Other Comprehensive Income	-462.6%	+76.6%	—
Noncontrolling Interest	-2.2%	+0.5%	—
Total Liabilitiesand Equity	+3.6%	+2.5%	—

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	+7.2%	+2.2%	—
Expenses Property Operating Expenses	+11.3%	+8.7%	—
Expenses Depreciation and Amortization	+1.8%	+3.8%	—
Expenses Selling,General and Administrative	+12.0%	+7.3%	—
Expenses Other Operating Expenses	+36.0%	-430.9%	—
Other Income Expense Operating Income	-1.3%	+19.1%	—
Other Income Expense Interest Expense	+16.0%	+34.7%	—
Other Income Expense Other Income/expense	-26.5%	+41.5%	—
Other Income Expense Income Before Tax	-8.4%	+18.8%	—
Income Tax Income Tax Expense	+22.2%	-20.9%	—
net Income Other Items Below Tax	-9.3%	-11.2%	—
net Income net Income	-10.8%	+22.0%	—
Earnings Per Share Basic Eps	-10.9%	+21.8%	—
Earnings Per Share Diluted Eps	-11.2%	+21.9%	—
Earnings Per Share Weighted Average Shares Diluted	+0.3%	+0.2%	—

Cash Flow Statement

Operating, investing, and financing flows

15 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 Cash From Operating Activities	+2.0%	-8.6%	—
Operating Activities net Income	-9.7%	+21.4%	—
Operating Activities Depreciation and Amortization	+2.0%	+3.9%	—
Operating Activities Stock Based Compensation	-20.0%	-13.4%	—
Operating Activities Other Non Cash Items	+24.5%	-172.5%	—
Investing Activities Capital Expenditures	+14.8%	+22.5%	—
Investing Activities Other Investing Activities	-44.6%	+77.9%	—
Investing Activities net Cash From Investing Activities	-17.1%	+51.7%	—
Financing Activities Proceeds From Debt	-23.2%	-21.7%	—
Financing Activities Repayment of Debt	+23.7%	-237.8%	—
Financing Activities Dividends Paid	-5.8%	-11.6%	—
Financing Activities Other Financing Activities	+67.9%	-3.0%	—
Financing Activities net Cash From Financing Activities	-56.4%	-175.7%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+150.8%	-13.4%	—
Cash Reconciliation net Change In Cash	-121.9%	+212.9%	—

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	-5.3%	-18.4%	-36.3%
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	+4.7%	+5.1%	+4.3%
Liquidity
Current ratio	—	—	—
Quick ratio	—	—	—
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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