financial statements

The full income statement, balance sheet, and cash-flow statement for Prologis Inc. (PLD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	8.79B YoY+7.2%	8.20B YoY+2.2%	8.02B YoY+34.3%	5.97B YoY+25.5%	4.76B YoY+7.2%
	-2.28B YoY-8.4%	-2.10B YoY-2.0%	-2.06B YoY-33.2%	-1.55B	—
Selling, general & administrative	469M YoY+12.0%	419M YoY+7.3%	390M YoY+17.9%	331M YoY+12.9%	293M YoY+6.7%
General & administrative	469M YoY+12.0%	419M YoY+7.3%	390M YoY+17.9%	331M YoY+12.9%	293M YoY+6.7%
Operating income	4.36B YoY-1.3%	4.42B YoY+19.1%	3.71B YoY+6.9%	3.47B YoY+8.1%	3.21B YoY+51.3%
Interest expense	1.00B YoY+16.0%	864M YoY+34.7%	641M YoY+107.5%	309M YoY+16.1%	266M YoY-15.4%
Other non-operating income	-589M YoY-95.5%	-301M YoY-23.6%	-244M YoY-209.1%	223M YoY+25534.0%	871K YoY-16.6%
Equity-method income	403M YoY+13.8%	354M YoY+15.1%	307M YoY-1.2%	311M YoY-23.1%	404M YoY+35.9%
Pre-tax income	3.77B YoY-8.4%	4.11B YoY+18.8%	3.46B YoY-6.1%	3.69B YoY+11.1%	3.32B YoY+90.2%
Income tax	204M YoY+22.2%	167M YoY-20.9%	211M YoY+55.8%	135M YoY-22.3%	174M YoY+33.6%
	3.33B YoY-10.8%	3.73B YoY+22.0%	3.06B YoY-9.1%	3.36B YoY+14.5%	2.94B YoY+98.4%
Net income to non-controlling interest	237M YoY+9.6%	216M YoY+11.5%	194M YoY+1.8%	191M YoY-8.8%	209M YoY+54.9%
Net income to common	3.32B YoY-10.8%	3.73B YoY+22.0%	3.05B YoY-9.1%	3.36B YoY+14.5%	2.93B YoY+99.1%
	$3.56 YoY-11.2%	$4.01 YoY+21.9%	$3.29 YoY-22.6%	$4.25 YoY+7.9%	$3.94 YoY+96.0%
EPS (basic)	$3.58 YoY-10.9%	$4.02 YoY+21.8%	$3.30 YoY-22.9%	$4.28 YoY+7.8%	$3.97 YoY+96.5%
Weighted-avg shares (basic)	928M YoY+0.2%	926M YoY+0.2%	924M YoY+17.7%	786M YoY+6.3%	739M YoY+1.5%
Weighted-avg shares (diluted)	957M YoY+0.3%	954M YoY+0.2%	952M YoY+17.3%	812M YoY+6.1%	765M YoY+1.4%
Dividends per share	$0.03 YoY+200.0%	$0.01	$0.00 YoY-100.0%	$0.02	$0.00
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	1.15B YoY-13.1%	1.32B YoY+148.8%	530M YoY+90.6%	278M YoY-50.0%	556M YoY-7.0%
	98.7B YoY+3.6%	95.3B YoY+2.5%	93.0B YoY+5.8%	87.9B YoY+50.3%	58.5B YoY+4.3%
Property, plant & equipment	222M YoY+4.4%	212M YoY+2.1%	208M YoY+73.5%	120M YoY+1.6%	118M YoY+0.3%
Operating lease right-of-use	672M YoY-5.1%	708M YoY+3.5%	684M YoY-7.0%	735M YoY+60.1%	459M YoY-6.8%
Goodwill	25.3M YoY+0.0%	25.3M YoY+0.0%	25.3M YoY+0.0%	25.3M YoY+0.0%	25.3M YoY+0.0%
Intangible assets	1.50B YoY-4.3%	1.56B YoY-7.0%	1.68B YoY-3.1%	1.73B YoY+75.2%	989M YoY-6.1%
	41.0B YoY+11.6%	36.7B YoY+4.3%	35.2B YoY+17.2%	30.0B YoY+44.8%	20.7B YoY+5.1%
Long-term debt	35.0B YoY+13.5%	30.9B YoY+6.5%	29.0B YoY+21.5%	23.9B YoY+10989.6%	215M YoY-98.7%
Deferred tax liabilities	156M YoY+10.6%	141M YoY+18.9%	119M YoY+19.0%	99.8M YoY+33.0%	75.0M YoY-13.0%
	53.2B YoY-1.4%	54.0B YoY+1.4%	53.2B YoY-0.1%	53.2B YoY+59.3%	33.4B YoY+4.6%
Preferred stock	63.9M YoY+0.0%	63.9M YoY+0.0%	63.9M YoY+0.0%	63.9M YoY+0.0%	63.9M YoY+0.0%
Common stock	9.29M YoY+0.3%	9.26M YoY+0.2%	9.24M YoY+0.1%	9.23M YoY+24.8%	7.40M YoY+0.1%
Additional paid-in capital	54.7B YoY+0.4%	54.5B YoY+0.4%	54.2B YoY+0.3%	54.1B YoY+52.0%	35.6B YoY+0.2%
Retained earnings	-902M YoY-93.7%	-466M YoY+25.7%	-627M YoY-37.0%	-458M YoY+65.5%	-1.33B YoY+44.6%
Accumulated other comprehensive income	-676M YoY-462.6%	-120M YoY+76.6%	-514M YoY-15.9%	-444M YoY+49.5%	-878M YoY+26.4%
Non-controlling interest	4.56B YoY-2.2%	4.67B YoY+0.5%	4.64B YoY+0.3%	4.63B YoY+7.2%	4.32B YoY-0.9%
Total equity incl. non-controlling	57.8B YoY-1.5%	58.6B YoY+1.4%	57.8B YoY-0.1%	57.9B YoY+53.3%	37.7B YoY+3.9%
Total liabilities & equity	98.7B YoY+3.6%	95.3B YoY+2.5%	93.0B YoY+5.8%	87.9B YoY+50.3%	58.5B YoY+4.3%
Common shares issued	929M YoY+0.3%	926M YoY+0.2%	924M YoY+0.1%	923M YoY+24.8%	740M YoY+0.1%
Common shares outstanding	929M YoY+0.3%	926M YoY+0.2%	924M YoY+0.1%	923M YoY+24.8%	740M YoY+0.1%
Shares outstanding (cover)	929M YoY+0.3%	926M YoY+0.2%	924M YoY+0.1%	923M YoY+24.9%	739M YoY+0.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.01B YoY+2.0%	4.91B YoY-8.6%	5.37B YoY+30.2%	4.13B YoY+37.7%	3.00B YoY+2.0%
Depreciation & amortization	2.63B YoY+1.8%	2.58B YoY+3.8%	2.48B YoY+37.1%	1.81B YoY+14.9%	1.58B YoY+1.0%
Share-based compensation	185M YoY-20.0%	232M YoY-13.4%	268M YoY+52.6%	175M YoY+55.1%	113M YoY+2.9%
Deferred income taxes	4.31M YoY-79.6%	21.2M YoY+19.5%	17.7M YoY+40.1%	12.6M YoY+856.0%	1.32M YoY+77.7%
	-3.63B YoY-17.1%	-3.10B YoY+51.7%	-6.42B YoY-42.7%	-4.50B YoY-126.1%	-1.99B YoY+35.3%
Acquisitions	0.00	0.00 YoY-100.0%	33.0M YoY-64.1%	92.1M	0.00
	-1.56B YoY-56.4%	-1000M YoY-175.7%	1.32B YoY+1040.2%	116M YoY+111.5%	-1.01B YoY-170.9%
Dividends paid	3.76B YoY+5.4%	3.57B YoY+10.6%	3.23B YoY+29.4%	2.49B YoY+33.2%	1.87B YoY+8.7%
FX effect on cash	—	—	—	—	-39.6M YoY-311.7%
Net change in cash	-173M YoY-121.9%	788M YoY+212.9%	252M YoY+190.7%	-278M YoY-561.5%	-42.0M YoY+91.4%
Interest paid	842M YoY+18.5%	711M YoY+55.5%	457M YoY+95.2%	234M YoY-16.0%	279M YoY-9.9%
Income taxes paid	143M YoY+9.9%	130M YoY-12.9%	149M YoY+14.7%	130M YoY-12.6%	149M YoY+47.7%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	119B YoY+21.1%	97.9B YoY-20.5%	123B YoY+18.4%	104B YoY-16.4%	124B YoY+69.0%
P/E	34.8× YoY+34.8%	25.8× YoY-36.1%	40.4× YoY+97.4%	20.5× YoY-50.8%	41.6× YoY-14.8%
P/S	13.5× YoY+13.0%	11.9× YoY-23.6%	15.6× YoY+2.9%	15.2× YoY-42.0%	26.2× YoY+57.6%
P/B	2.2× YoY+22.9%	1.8× YoY-21.0%	2.3× YoY-2.9%	2.4× YoY-36.5%	3.7× YoY+61.6%
P/FCF	23.7× YoY+18.8%	19.9× YoY-9.8%	22.1× YoY-5.7%	23.4× YoY-43.6%	41.5× YoY+65.6%
Earnings yield	2.9% YoY-25.8%	3.9% YoY+56.6%	2.5% YoY-49.3%	4.9% YoY+103.3%	2.4% YoY+17.4%
FCF yield	4.2% YoY-15.8%	5.0% YoY+10.8%	4.5% YoY+6.0%	4.3% YoY+77.5%	2.4% YoY-39.6%
Dividend yield	0.0% YoY+148.4%	0.0%	0.0% YoY-100.0%	0.0%	0.0%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: PLD's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PLD filings on SEC EDGAR → Not investment advice.

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About this data

financial statements