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Prologis Income Statement 2025-2011 | PLD
Brief overview of financial results at Prologis
The conclusions below are based on five years of reported results. Revenue reported by Prologis was $4.4 billion at the beginning of the period and $2.3 billion at the end. The cumulative result was −49.2%, corresponding to roughly −12.7% per year. The business finished the period with a smaller revenue base.
Over the period, EBITDA shifted from 3.7 billion dollars to 4.3 billion dollars, a change of +15.5%. EBITDA expanded faster than the top line. EBITDA margin moved from 82.9% to 188.8%. Higher profitability strengthens the quality of operating growth.
Net profit was 1.5 billion dollars at the start and 3.3 billion dollars at the end. Revenue converted into net income more efficiently.
The market value of the business moved from $73.3 billion to $129 billion, or +75.8%. The valuation did not keep pace with the reported progress.
Conclusion
The five-year picture requires weighing both strengths and weaknesses. Key strengths include improving net profitability and positive operating leverage. Caution is warranted because of weak sales momentum. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement Prologis
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
129 B | 112 B | 120 B | 100 B | 115 B | 73.3 B | 60.7 B | 38.8 B | 33.4 B | 25.6 B | 20.6 B | 22.6 B | 18.9 B | 18.4 B | 11.7 B |
Shares |
928 M | 926 M | 924 M | 786 M | 739 M | 728 M | 631 M | 567 M | 530 M | 526 M | 521 M | 500 M | 486 M | 460 M | 371 M |
Historical Prices |
139 | 121 | 129 | 128 | 156 | 101 | 88.2 | 63.9 | 58.4 | 42.5 | 33.1 | 36.5 | 30.3 | 30.3 | 23.3 |
Net Income |
3.33 B | 3.73 B | 3.06 B | 3.36 B | 2.94 B | 1.48 B | 1.57 B | 1.65 B | 1.65 B | 1.21 B | 869 M | 636 M | 343 M | -39.7 M | -153 M |
Revenue |
2.25 B | 2.2 B | 8.02 B | 5.97 B | 4.76 B | 4.44 B | 3.33 B | 2.8 B | 2.62 B | 2.53 B | 2.2 B | 1.76 B | 1.75 B | 2.01 B | 1.53 B |
Gross Profit |
- | - | - | - | - | - | 2.41 B | 2.05 B | 1.89 B | 1.84 B | 1.57 B | 1.23 B | 1.21 B | 1.44 B | 1.09 B |
Operating Income |
1.63 B | 1.42 B | 3.71 B | 3.47 B | 3.21 B | 2.12 B | 1.85 B | 1.69 B | 1.95 B | 668 M | 380 M | 320 M | 304 M | 93 M | 94.8 M |
Interest Expense |
1 B | 864 M | 641 M | 309 M | 266 M | 315 M | 240 M | 229 M | 274 M | 303 M | 301 M | 309 M | 379 M | 505 M | 467 M |
EBITDA |
4.25 B | 4 B | 6.19 B | 5.28 B | 4.78 B | 3.68 B | 2.13 B | 1.79 B | 1.65 B | 1.6 B | 1.26 B | 962 M | 953 M | 1.16 B | 874 M |
Operating Expenses |
-2.28 B | -2.1 B | -2.06 B | -1.55 B | - | - | 1.42 B | 1.2 B | 1.12 B | 1.17 B | 1.19 B | 914 M | 905 M | 1.01 B | 805 M |
General and Administrative Expenses |
469 M | 419 M | 390 M | 331 M | 293 M | 275 M | 267 M | 239 M | 231 M | 222 M | 238 M | 248 M | 229 M | 246 M | 195 M |
All numbers in USD currency
Quarterly Income Statement Prologis
| 2026-Q1 | 2025-Q4 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
931 M | 929 M | 927 M | 926 M | 926 M | 926 M | 925 M | 924 M | 924 M | 924 M | 924 M | 923 M | 741 M | 741 M | 740 M | 740 M | 739 M | 739 M | 739 M | 739 M | 738 M | 738 M | 698 M | 632 M | 631 M | 630 M | 630 M | 630 M | 575 M | 533 M | 532 M | 532 M | 531 M | 530 M | 529 M | 529 M | 527 M | 525 M | 524 M | 525 M | 524 M | 523 M | 514 M | 509 M | 499 M | 499 M | 499 M | 499 M | 498 M | 486 M | 461 M | 462 M | 460 M | 460 M | 459 M | 459 M | 458 M | 308 M | 255 M |
Net Income |
982 M | - | 593 M | - | 1.01 B | 861 M | 586 M | - | 748 M | 1.22 B | 465 M | - | 1.02 B | 611 M | 1.15 B | 1.3 B | 724 M | 600 M | 367 M | 308 M | 303 M | 406 M | 491 M | 426 M | 452 M | 385 M | 349 M | 690 M | 348 M | 336 M | 367 M | 339 M | 878 M | 269 M | 205 M | 441 M | 281 M | 277 M | 210 M | 118 M | 261 M | 142 M | 347 M | 409 M | 138 M | 81.2 M | 6.8 M | 59.1 M | -5.4 M | 2.3 M | 285 M | -229 M | -36.2 M | 1.93 M | 213 M | -45.5 M | 65.8 M | -144 M | -40.2 M |
Revenue |
2.3 B | - | 2.14 B | - | 2.04 B | 2.01 B | 1.96 B | - | 1.91 B | 2.45 B | 1.77 B | - | 1.75 B | 1.25 B | 1.22 B | 1.28 B | 1.18 B | 1.15 B | 1.15 B | 1.11 B | 1.08 B | 1.27 B | 978 M | 826 M | 942 M | 790 M | 772 M | 807 M | 682 M | 621 M | 694 M | 620 M | 603 M | 766 M | 629 M | - | 45.9 M | 41.5 M | 58.3 M | - | 33.6 M | 41.8 M | 31 M | - | 28.5 M | 21.2 M | 29.7 M | - | 26.4 M | 8.42 M | 24.8 M | - | 2.56 M | 3.89 M | 14 M | - | 31 M | 11.4 M | 13.6 M |
Operating Income |
1.21 B | - | 878 M | - | 1.25 B | 1.02 B | 720 M | - | 882 M | 1.41 B | 579 M | - | 915 M | 533 M | 1.21 B | 1.21 B | 766 M | 701 M | 532 M | 482 M | 557 M | 612 M | 468 M | 560 M | 471 M | 442 M | 377 M | 599 M | 376 M | 282 M | 432 M | 158 M | 175 M | 275 M | 162 M | 164 M | 233 M | 142 M | 129 M | 106 M | 103 M | 87.3 M | 83.9 M | 75 M | 78.1 M | 95.3 M | 71.5 M | 71.5 M | 77.4 M | 58.5 M | 97 M | -163 M | 76.5 M | 97.5 M | 81.5 M | 49.7 M | 78.3 M | -50.8 M | 26.9 M |
Interest Expense |
- | - | - | - | - | 208 M | 193 M | - | 181 M | 150 M | 136 M | - | 63.9 M | 60.3 M | 64.1 M | - | 63.6 M | 68.4 M | 71.3 M | - | 80.7 M | 81.3 M | 75.6 M | - | 60.2 M | 59.1 M | 60.5 M | - | 64.2 M | 56.3 M | 47.2 M | - | 64.2 M | 75.4 M | 72.9 M | - | 75.3 M | 76.5 M | 80.8 M | - | 81 M | 68.9 M | 68.8 M | - | 69.1 M | 80.2 M | 85.5 M | - | 84.6 M | 92.2 M | 115 M | - | 123 M | 128 M | 133 M | - | 136 M | 113 M | 90.5 M |
EBITDA |
1.94 B | - | 1.53 B | - | 1.9 B | 1.66 B | 1.36 B | - | 1.52 B | 2.01 B | 1.18 B | - | 1.32 B | 936 M | 1.6 B | 1.21 B | 1.16 B | 1.09 B | 930 M | 482 M | 957 M | 1.01 B | 814 M | 560 M | 754 M | 726 M | 661 M | 599 M | 628 M | 485 M | 636 M | 158 M | 377 M | 503 M | 388 M | 164 M | 457 M | 373 M | 379 M | 106 M | 351 M | 278 M | 254 M | 75 M | 227 M | 257 M | 232 M | 71.5 M | 573 M | 395 M | 274 M | -163 M | 654 M | 477 M | 273 M | 49.7 M | 484 M | 157 M | 110 M |
Operating Expenses |
612 M | - | 559 M | - | - | - | 545 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 501 M | 434 M | 457 M | - | 427 M | 491 M | 467 M | - | 472 M | 460 M | 477 M | - | 477 M | 423 M | 379 M | - | 337 M | 365 M | 363 M | - | 346 M | 352 M | 383 M | - | 424 M | 400 M | 394 M | - | 390 M | 368 M | 201 M |
General and Administrative Expenses |
127 M | - | 115 M | - | 98.2 M | 107 M | 111 M | - | 96.7 M | 95.6 M | 99.8 M | - | 87.9 M | 83.1 M | 74.6 M | - | 67 M | 74.3 M | 78 M | - | 74.3 M | 64.7 M | 69.7 M | - | 65.2 M | 66.3 M | 69.7 M | - | 62.2 M | 57.6 M | 62.4 M | - | 57.7 M | 60.1 M | 53.6 M | - | 58.2 M | 56.9 M | 50.5 M | - | 54.2 M | 52 M | 51.3 M | - | 58.2 M | 60.4 M | 63.2 M | - | 55 M | 54.9 M | 56.2 M | - | 55.9 M | 51.4 M | 60.2 M | - | 53.3 M | 51.8 M | 39.2 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Prologis (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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