PROLOGIS INC (PLD) Stock Fundamental Analysis
USA - NYSE:PLD - US74340W1036 - REIT
122.53 USD
+7.08 (+6.13%)
We assign a fundamental rating of 4 out of 10 to PLD. PLD was compared to 129 industry peers in the Diversified REITs industry. While PLD belongs to the best of the industry regarding profitability, there are concerns on its financial health. PLD is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
PLD had positive earnings in the past year.
In the past year PLD had a positive cash flow from operations.
In the past 5 years PLD has always been profitable.
PLD had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of PLD (3.52%) is better than 82.17% of its industry peers.
PLD has a Return On Equity of 6.53%. This is in the better half of the industry: PLD outperforms 76.74% of its industry peers.
PLD has a Return On Invested Capital (2.89%) 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 3.01%.
The 3 year average ROIC (2.50%) for PLD is below the current ROIC(2.89%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 6.53% | ||
| ROIC | 2.89% |
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
Looking at the Profit Margin, with a value of 40.22%, PLD belongs to the top of the industry, outperforming 91.47% of the companies in the same industry.
In the last couple of years the Profit Margin of PLD has remained more or less at the same level.
Looking at the Operating Margin, with a value of 39.34%, PLD belongs to the top of the industry, outperforming 85.27% of the companies in the same industry.
PLD's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 75.35%, PLD is in the better half of the industry, outperforming 73.64% of the companies in the same industry.
PLD's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 39.34% | ||
| PM (TTM) | 40.22% | ||
| GM | 75.35% |
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PLD is destroying value.
Compared to 1 year ago, PLD has more shares outstanding
PLD has more shares outstanding than it did 5 years ago.
PLD has a worse debt/assets ratio than last year.
2.2 Solvency
A Debt/Equity ratio of 0.66 indicates that PLD is somewhat dependend on debt financing.
The Debt to Equity ratio of PLD (0.66) is better than 82.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.66 | ||
| Debt/FCF | N/A | ||
| Altman-Z | N/A |
ROIC/WACC0.4
WACC7.2%
2.3 Liquidity
A Current Ratio of 0.19 indicates that PLD may have some problems paying its short term obligations.
PLD has a worse Current ratio (0.19) than 93.02% of its industry peers.
PLD has a Quick Ratio of 0.19. 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 worse Quick ratio (0.19) than 93.02% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 |
3. Growth
3.1 Past
PLD shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 21.78%, which is quite impressive.
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.
The Revenue has grown by 10.20% in the past year. This is quite good.
PLD shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 19.75% yearly.
EPS 1Y (TTM)21.78%
EPS 3Y0.51%
EPS 5Y10.3%
EPS Q2Q%-33.7%
Revenue 1Y (TTM)10.2%
Revenue growth 3Y19.89%
Revenue growth 5Y19.75%
Sales Q2Q%9.34%
3.2 Future
Based on estimates for the next years, PLD will show a small growth in Earnings Per Share. The EPS will grow by 2.20% on average per year.
Based on estimates for the next years, PLD will show a small growth in Revenue. The Revenue will grow by 6.56% on average per year.
EPS Next Y-34.22%
EPS Next 2Y-13.84%
EPS Next 3Y-5.5%
EPS Next 5Y2.2%
Revenue Next Year11.08%
Revenue Next 2Y8.51%
Revenue Next 3Y7.76%
Revenue Next 5Y6.56%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
PLD is valuated quite expensively with a Price/Earnings ratio of 33.21.
PLD's Price/Earnings ratio is a bit cheaper when compared to the industry. PLD is cheaper than 62.79% of the companies in the same industry.
When comparing the Price/Earnings ratio of PLD to the average of the S&P500 Index (27.49), we can say PLD is valued slightly more expensively.
Based on the Price/Forward Earnings ratio of 41.26, the valuation of PLD can be described as expensive.
63.57% of the companies in the same industry are more expensive than PLD, based on the Price/Forward Earnings ratio.
PLD is valuated expensively when we compare the Price/Forward Earnings ratio to 22.99, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.21 | ||
| Fwd PE | 41.26 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PLD indicates a rather expensive valuation: PLD more expensive than 89.92% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 23.52 |
4.3 Compensation for Growth
The excellent profitability rating of PLD may justify a higher PE ratio.
A cheap valuation may be justified as PLD's earnings are expected to decrease with -5.50% in the coming years.
PEG (NY)N/A
PEG (5Y)3.22
EPS Next 2Y-13.84%
EPS Next 3Y-5.5%
5. Dividend
5.1 Amount
PLD has a Yearly Dividend Yield of 3.53%. Purely for dividend investing, there may be better candidates out there.
PLD's Dividend Yield is slightly below the industry average, which is at 7.01.
Compared to an average S&P500 Dividend Yield of 2.43, PLD pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.53% |
5.2 History
The dividend of PLD is nicely growing with an annual growth rate of 12.58%!
PLD has been paying a dividend for at least 10 years, so it has a reliable track record.
PLD has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)12.58%
Div Incr Years11
Div Non Decr Years15
5.3 Sustainability
PLD pays out 106.52% of its income as dividend. This is not a sustainable payout ratio.
PLD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP106.52%
EPS Next 2Y-13.84%
EPS Next 3Y-5.5%
NYSE:PLD (10/15/2025, 1:02:10 PM)
122.53
+7.08 (+6.13%)
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-0.02%
Ins Owners0.24%
Ins Owner Change1.76%
Market Cap113.72B
Analysts78.57
Price Target122.91 (0.31%)
Short Float %1.27%
Short Ratio3.41
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.53% |
Yearly Dividend3.86
Dividend Growth(5Y)12.58%
DP106.52%
Div Incr Years11
Div Non Decr Years15
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.73%
Min EPS beat(2)-4.74%
Max EPS beat(2)3.27%
EPS beat(4)3
Avg EPS beat(4)44.78%
Min EPS beat(4)-4.74%
Max EPS beat(4)111.94%
EPS beat(8)7
Avg EPS beat(8)37.9%
EPS beat(12)10
Avg EPS beat(12)28.94%
EPS beat(16)14
Avg EPS beat(16)51.01%
Revenue beat(2)0
Avg Revenue beat(2)-3.54%
Min Revenue beat(2)-3.74%
Max Revenue beat(2)-3.34%
Revenue beat(4)0
Avg Revenue beat(4)-3.13%
Min Revenue beat(4)-3.74%
Max Revenue beat(4)-1.95%
Revenue beat(8)1
Avg Revenue beat(8)-2.49%
Revenue beat(12)4
Avg Revenue beat(12)4.28%
Revenue beat(16)8
Avg Revenue beat(16)6.81%
PT rev (1m)0.51%
PT rev (3m)2.55%
EPS NQ rev (1m)1.46%
EPS NQ rev (3m)1.07%
EPS NY rev (1m)-1.7%
EPS NY rev (3m)2.24%
Revenue NQ rev (1m)-0.05%
Revenue NQ rev (3m)2.68%
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)1.29%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 33.21 | ||
| Fwd PE | 41.26 | ||
| P/S | 13.28 | ||
| P/FCF | N/A | ||
| P/OCF | 21.98 | ||
| P/B | 2.16 | ||
| P/tB | 2.16 | ||
| EV/EBITDA | 23.52 |
EPS(TTM)3.69
EY3.01%
EPS(NY)2.97
Fwd EY2.42%
FCF(TTM)-1.22
FCFYN/A
OCF(TTM)5.57
OCFY4.55%
SpS9.22
BVpS56.82
TBVpS56.82
PEG (NY)N/A
PEG (5Y)3.22
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 6.53% | ||
| ROCE | 3.66% | ||
| ROIC | 2.89% | ||
| ROICexc | 2.93% | ||
| ROICexgc | 3.11% | ||
| OM | 39.34% | ||
| PM (TTM) | 40.22% | ||
| GM | 75.35% | ||
| FCFM | N/A |
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%
ROICexcg growth 3Y5.02%
ROICexcg 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 | 0.66 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.79 | ||
| Cap/Depr | 240.97% | ||
| Cap/Sales | 73.61% | ||
| Interest Coverage | 4.13 | ||
| Cash Conversion | 86.46% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 | ||
| Altman-Z | N/A |
F-Score6
WACC7.2%
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)21.78%
EPS 3Y0.51%
EPS 5Y10.3%
EPS Q2Q%-33.7%
EPS Next Y-34.22%
EPS Next 2Y-13.84%
EPS Next 3Y-5.5%
EPS Next 5Y2.2%
Revenue 1Y (TTM)10.2%
Revenue growth 3Y19.89%
Revenue growth 5Y19.75%
Sales Q2Q%9.34%
Revenue Next Year11.08%
Revenue Next 2Y8.51%
Revenue Next 3Y7.76%
Revenue Next 5Y6.56%
EBIT growth 1Y24.43%
EBIT growth 3Y24.19%
EBIT growth 5Y25.58%
EBIT Next Year78.72%
EBIT Next 3Y26.89%
EBIT Next 5Y21.28%
FCF growth 1Y60.52%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y7.53%
OCF growth 3Y17.92%
OCF growth 5Y16.76%