PROLOGIS INC (PLD) Stock Fundamental Analysis
USA - NYSE:PLD - US74340W1036 - REIT
125.6 USD
+1.6 (+1.29%)
125.6 USD
0 (0%)
Overall PLD gets a fundamental rating of 4 out of 10. We evaluated PLD against 128 industry peers in the Diversified REITs industry. PLD has an excellent profitability rating, but there are concerns on its financial health. While showing a medium growth rate, PLD is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year PLD was profitable.
In the past year PLD had a positive cash flow from operations.
Each year in the past 5 years PLD has been profitable.
In the past 5 years PLD always reported a positive cash flow from operatings.
1.2 Ratios
PLD has a Return On Assets of 3.26%. This is in the better half of the industry: PLD outperforms 76.38% of its industry peers.
Looking at the Return On Equity, with a value of 6.08%, PLD is in the better half of the industry, outperforming 71.65% of the companies in the same industry.
PLD has a Return On Invested Capital (2.97%) which is comparable to the rest of the industry.
PLD had an Average Return On Invested Capital over the past 3 years of 2.50%. This is in line with the industry average of 3.09%.
The last Return On Invested Capital (2.97%) for PLD is above the 3 year average (2.50%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.26% | ||
| ROE | 6.08% | ||
| ROIC | 2.97% |
ROA(3y)3.67%
ROA(5y)3.73%
ROE(3y)6.32%
ROE(5y)6.47%
ROIC(3y)2.5%
ROIC(5y)2.38%
1.3 Margins
PLD has a Profit Margin of 36.64%. This is amongst the best in the industry. PLD outperforms 89.76% of its industry peers.
PLD's Profit Margin has been stable in the last couple of years.
With an excellent Operating Margin value of 39.78%, PLD belongs to the best of the industry, outperforming 85.04% of the companies in the same industry.
PLD's Operating Margin has improved in the last couple of years.
The Gross Margin of PLD (75.10%) is better than 73.23% of its industry peers.
In the last couple of years the Gross Margin of PLD has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 39.78% | ||
| PM (TTM) | 36.64% | ||
| GM | 75.1% |
OM growth 3Y3.59%
OM growth 5Y4.87%
PM growth 3Y-9.67%
PM growth 5Y-0.7%
GM growth 3Y0.52%
GM growth 5Y0.68%
2. Health
2.1 Basic Checks
PLD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
PLD has more shares outstanding than it did 1 year ago.
The number of shares outstanding for PLD has been increased compared to 5 years ago.
Compared to 1 year ago, PLD has a worse debt to assets ratio.
2.2 Solvency
The Debt to FCF ratio of PLD is 120.19, which is on the high side as it means it would take PLD, 120.19 years of fcf income to pay off all of its debts.
PLD has a Debt to FCF ratio (120.19) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.67 indicates that PLD is somewhat dependend on debt financing.
PLD has a better Debt to Equity ratio (0.67) than 82.68% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.67 | ||
| Debt/FCF | 120.19 | ||
| Altman-Z | N/A |
ROIC/WACC0.4
WACC7.35%
2.3 Liquidity
A Current Ratio of 0.20 indicates that PLD may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.20, PLD is doing worse than 92.13% of the companies in the same industry.
PLD has a Quick Ratio of 0.20. This is a bad value and indicates that PLD is not financially healthy enough and could expect problems in meeting its short term obligations.
PLD has a Quick ratio of 0.20. This is amonst the worse of the industry: PLD underperforms 91.34% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.2 | ||
| Quick Ratio | 0.2 |
3. Growth
3.1 Past
PLD shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.63%.
Measured over the past years, PLD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.30% on average per year.
PLD shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.75%.
Measured over the past years, PLD shows a quite strong growth in Revenue. The Revenue has been growing by 19.75% on average per year.
EPS 1Y (TTM)3.63%
EPS 3Y0.51%
EPS 5Y10.3%
EPS Q2Q%-24.07%
Revenue 1Y (TTM)10.75%
Revenue growth 3Y19.89%
Revenue growth 5Y19.75%
Sales Q2Q%8.28%
3.2 Future
The Earnings Per Share is expected to grow by 3.02% on average over the next years.
Based on estimates for the next years, PLD will show a small growth in Revenue. The Revenue will grow by 7.13% on average per year.
EPS Next Y-32.33%
EPS Next 2Y-13.43%
EPS Next 3Y-4.42%
EPS Next 5Y3.02%
Revenue Next Year9.4%
Revenue Next 2Y8.01%
Revenue Next 3Y7.83%
Revenue Next 5Y7.13%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
PLD is valuated quite expensively with a Price/Earnings ratio of 36.62.
Based on the Price/Earnings ratio, PLD is valued a bit cheaper than the industry average as 61.42% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.06, PLD is valued a bit more expensive.
The Price/Forward Earnings ratio is 41.89, which means the current valuation is very expensive for PLD.
Compared to the rest of the industry, the Price/Forward Earnings ratio of PLD indicates a somewhat cheap valuation: PLD is cheaper than 61.42% of the companies listed in the same industry.
PLD's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 32.73.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.62 | ||
| Fwd PE | 41.89 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, PLD is valued expensively inside the industry as 89.76% of the companies are valued cheaper.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of PLD is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 397.1 | ||
| EV/EBITDA | 24.76 |
4.3 Compensation for Growth
PLD has a very decent profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as PLD's earnings are expected to decrease with -4.42% in the coming years.
PEG (NY)N/A
PEG (5Y)3.55
EPS Next 2Y-13.43%
EPS Next 3Y-4.42%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.26%, PLD has a reasonable but not impressive dividend return.
PLD's Dividend Yield is slightly below the industry average, which is at 6.31.
PLD's Dividend Yield is a higher than the S&P500 average which is at 2.37.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.26% |
5.2 History
The dividend of PLD is nicely growing with an annual growth rate of 12.58%!
PLD has paid a dividend for at least 10 years, which is a reliable track record.
PLD has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)12.58%
Div Incr Years11
Div Non Decr Years15
5.3 Sustainability
116.06% of the earnings are spent on dividend by PLD. This is not a sustainable payout ratio.
PLD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP116.06%
EPS Next 2Y-13.43%
EPS Next 3Y-4.42%
125.6
+1.6 (+1.29%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.15%
Inst Owner Change-0.88%
Ins Owners0.24%
Ins Owner Change14.84%
Market Cap116.64B
Revenue(TTM)8.74B
Net Income(TTM)3.20B
Analysts78.67
Price Target131.82 (4.95%)
Short Float %0.96%
Short Ratio2.63
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.26% |
Yearly Dividend3.86
Dividend Growth(5Y)12.58%
DP116.06%
Div Incr Years11
Div Non Decr Years15
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)8.95%
Min EPS beat(2)-4.74%
Max EPS beat(2)22.64%
EPS beat(4)3
Avg EPS beat(4)33.28%
Min EPS beat(4)-4.74%
Max EPS beat(4)111.94%
EPS beat(8)7
Avg EPS beat(8)36.01%
EPS beat(12)10
Avg EPS beat(12)29.95%
EPS beat(16)14
Avg EPS beat(16)46.94%
Revenue beat(2)0
Avg Revenue beat(2)-4.84%
Min Revenue beat(2)-5.94%
Max Revenue beat(2)-3.74%
Revenue beat(4)0
Avg Revenue beat(4)-3.74%
Min Revenue beat(4)-5.94%
Max Revenue beat(4)-1.95%
Revenue beat(8)0
Avg Revenue beat(8)-3.42%
Revenue beat(12)3
Avg Revenue beat(12)-0.22%
Revenue beat(16)7
Avg Revenue beat(16)5.57%
PT rev (1m)7.25%
PT rev (3m)8.96%
EPS NQ rev (1m)-0.96%
EPS NQ rev (3m)-3.73%
EPS NY rev (1m)2.88%
EPS NY rev (3m)5.18%
Revenue NQ rev (1m)-2.3%
Revenue NQ rev (3m)-0.09%
Revenue NY rev (1m)-1.51%
Revenue NY rev (3m)1.02%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.62 | ||
| Fwd PE | 41.89 | ||
| P/S | 13.35 | ||
| P/FCF | 397.1 | ||
| P/OCF | 22.49 | ||
| P/B | 2.22 | ||
| P/tB | 2.22 | ||
| EV/EBITDA | 24.76 |
EPS(TTM)3.43
EY2.73%
EPS(NY)3
Fwd EY2.39%
FCF(TTM)0.32
FCFY0.25%
OCF(TTM)5.58
OCFY4.45%
SpS9.41
BVpS56.68
TBVpS56.68
PEG (NY)N/A
PEG (5Y)3.55
Graham Number66.14
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.26% | ||
| ROE | 6.08% | ||
| ROCE | 3.76% | ||
| ROIC | 2.97% | ||
| ROICexc | 3.01% | ||
| ROICexgc | 3.2% | ||
| OM | 39.78% | ||
| PM (TTM) | 36.64% | ||
| GM | 75.1% | ||
| FCFM | 3.36% |
ROA(3y)3.67%
ROA(5y)3.73%
ROE(3y)6.32%
ROE(5y)6.47%
ROIC(3y)2.5%
ROIC(5y)2.38%
ROICexc(3y)2.52%
ROICexc(5y)2.4%
ROICexgc(3y)2.61%
ROICexgc(5y)2.49%
ROCE(3y)3.16%
ROCE(5y)3.01%
ROICexgc growth 3Y5.02%
ROICexgc growth 5Y4.99%
ROICexc growth 3Y4.96%
ROICexc growth 5Y4.9%
OM growth 3Y3.59%
OM growth 5Y4.87%
PM growth 3Y-9.67%
PM growth 5Y-0.7%
GM growth 3Y0.52%
GM growth 5Y0.68%
F-Score6
Asset Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.67 | ||
| Debt/FCF | 120.19 | ||
| Debt/EBITDA | 5.8 | ||
| Cap/Depr | 187.16% | ||
| Cap/Sales | 55.98% | ||
| Interest Coverage | 4.09 | ||
| Cash Conversion | 85.15% | ||
| Profit Quality | 9.17% | ||
| Current Ratio | 0.2 | ||
| Quick Ratio | 0.2 | ||
| Altman-Z | N/A |
F-Score6
WACC7.35%
ROIC/WACC0.4
Cap/Depr(3y)289.47%
Cap/Depr(5y)281.07%
Cap/Sales(3y)89.36%
Cap/Sales(5y)90.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)3.63%
EPS 3Y0.51%
EPS 5Y10.3%
EPS Q2Q%-24.07%
EPS Next Y-32.33%
EPS Next 2Y-13.43%
EPS Next 3Y-4.42%
EPS Next 5Y3.02%
Revenue 1Y (TTM)10.75%
Revenue growth 3Y19.89%
Revenue growth 5Y19.75%
Sales Q2Q%8.28%
Revenue Next Year9.4%
Revenue Next 2Y8.01%
Revenue Next 3Y7.83%
Revenue Next 5Y7.13%
EBIT growth 1Y22.93%
EBIT growth 3Y24.19%
EBIT growth 5Y25.58%
EBIT Next Year78.72%
EBIT Next 3Y26.89%
EBIT Next 5Y20.82%
FCF growth 1Y114.86%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-7%
OCF growth 3Y17.92%
OCF growth 5Y16.76%
PROLOGIS INC / PLD FAQ
What is the fundamental rating for PLD stock?
ChartMill assigns a fundamental rating of 4 / 10 to PLD.
What is the valuation status for PLD stock?
ChartMill assigns a valuation rating of 2 / 10 to PROLOGIS INC (PLD). This can be considered as Overvalued.
Can you provide the profitability details for PROLOGIS INC?
PROLOGIS INC (PLD) has a profitability rating of 8 / 10.
What is the earnings growth outlook for PROLOGIS INC?
The Earnings per Share (EPS) of PROLOGIS INC (PLD) is expected to decline by -32.33% in the next year.
How sustainable is the dividend of PROLOGIS INC (PLD) stock?
The dividend rating of PROLOGIS INC (PLD) is 5 / 10 and the dividend payout ratio is 116.06%.