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Prologis Inc.
PLDReal EstateGenerated Aug 19, 2026, 10:31 PM UTC
PLD (Prologis Inc.) analytical snapshot. Revenue grew +7.2% YoY to $8.79B. 5-year revenue CAGR +13.1%; 10y CAGR +14.8%. Net margin at 37.86% (contracting ▼). Market cap $131.74B at $141.30 per share. Trailing P/E 39.69, P/S 14.99, P/B 2.46. EV/Operating income ≈ 37.99 (EV $165.55B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -5 (data confidence 74%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
Latest annual report (10-K) filed Feb 13, 2026. Latest quarterly report (10-Q) filed Jul 29, 2026. 19 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 13, 2026.
- Latest quarterly report (10-Q) filed Jul 29, 2026.
- 19 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Prologis Inc.; broad institutional reporting.
- Recent filers include DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ), DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ), DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ).
- 20 recent 13G passive institutional ownership notices.
| Filer | Form | Filed |
|---|---|---|
| DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ) | 13F-HR | Aug 9, 2023 |
| DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ) | 13F-HR | Feb 14, 2025 |
| DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ) | 13F-HR | Feb 19, 2025 |
| DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ) | 13F-HR | Aug 14, 2024 |
| DigitalBridge Group, Inc. (DBRG, DBRG-PH, DBRG-PI, DBRG-PJ) | 13F-HR | May 3, 2023 |
| Date | Form | Description |
|---|---|---|
| Aug 6, 2026 | 8-K | FORM 8-K |
| Aug 5, 2026 | 8-K | FORM 8-K |
| Aug 4, 2026 | 8-K | FORM 8-K |
| Jul 16, 2026 | 8-K | 8-K |
| Jul 1, 2026 | 8-K | 8-K |
| Jun 24, 2026 | 8-K | 8-K |
| Jun 11, 2026 | 8-K | FORM 8-K |
| Apr 30, 2026 | 8-K | 8-K |
SEC Filing Deep-Analysis
3 risk signal(s), 1 positive signal(s) detected from XBRL filing diff analysis. Revenue grew +7.2% but receivables grew +47.6% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Receivables outpacing revenue: Accounts receivable grew +47.6% YoY vs revenue growth of +7.2%. The +40.4% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Material weakness in internal controls: The term "material weakness" "internal control" appears in 5 recent filing(s) (vs 3 in the prior period). This risk language is ongoing.
- Restatement of financial statements: The term "restatement of" "previously issued" appears in 5 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 1.50x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Endogenous analysis: Revenue grew +7.2% but receivables grew +47.6% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- Ongoing high-severity risk language: Material weakness in internal controls, Restatement of financial statements.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $8.20B | $8.79B | $588.5M | +7.2% |
| Operating income | $4.42B | $4.36B | $-58.1M | -1.3% |
| Net income | $3.73B | $3.33B | $-403.4M | -10.8% |
| Operating cash flow | $4.91B | $5.01B | $96.2M | +2.0% |
| Total assets | $95.33B | $98.72B | $3.40B | +3.6% |
| Total liabilities | $36.71B | $40.97B | $4.26B | +11.6% |
| Long-term debt | $30.88B | $35.04B | $4.16B | +13.5% |
| Cash & equivalents | $1.32B | $1.15B | $-172.9M | -13.1% |
| Stockholders equity | $53.95B | $53.19B | $-758.0M | -1.4% |
| Accounts receivable | $407.5M | $601.3M | $193.9M | +47.6% |
| Interest expense | $863.9M | $1.00B | $138.4M | +16.0% |
| Type | Concepts |
|---|---|
| Added | ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments |
| Removed | AccountsReceivableNet, AccrualForEnvironmentalLossContingencies, AdvanceRent, AmortizationOfDebtDiscountPremium, AmortizationOfFinancingCosts, AreaOfLand, AssetsOfDisposalGroupIncludingDiscontinuedOperation, BelowMarketLeaseAccumulatedAmortization, BelowMarketLeaseNet, CommonStockDividendsPerShareDeclared |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 5 | 3 | Ongoing |
| Restatement of financial statements | high | 5 | 1 | Ongoing |
| Impairment charge | medium | 5 | 3 | Ongoing |
| Restructuring | medium | 5 | 2 | Ongoing |
| Off-balance sheet arrangements | medium | 5 | 5 | Ongoing |
| Related party transactions | low | 5 | 0 | NEW |
Fundamentals
Revenue grew +7.2% YoY to $8.79B. 5-year revenue CAGR +13.1%; 10y CAGR +14.8%. Net margin at 37.86% (contracting ▼).
- Revenue grew +7.2% YoY to $8.79B.
- 5-year revenue CAGR +13.1%; 10y CAGR +14.8%.
- Net margin at 37.86% (contracting ▼).
- Return on equity 6.26%, ROA 3.37%, ROIC 4.94%.
- Gross margin 0.00%, operating margin 49.58%.
- Net income down ▼ +10.8% YoY.
- Debt/equity 0.65, current ratio —, net debt $33.81B.
- Asset turnover 0.09 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $8.20B | +2.2% | 0.00 | 53.84 | 45.50 | — | 6.92 |
| 2025 | $8.79B | +7.2% | 0.00 | 49.58 | 37.86 | — | 6.26 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Jun 30, 2024 | $2.01B | -18.1% | — | 42.90% |
| Sep 30, 2024 | $2.04B | +6.4% | +1.4% | 49.39% |
| Mar 31, 2025 | $2.14B | +9.4% | +5.1% | 27.71% |
| Jun 30, 2025 | $2.18B | +8.8% | +2.1% | 26.16% |
| Sep 30, 2025 | $2.21B | +8.7% | +1.4% | 34.52% |
| Mar 31, 2026 | $2.30B | +7.4% | +3.8% | 42.74% |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $131.74B at $141.30 per share. Trailing P/E 39.69, P/S 14.99, P/B 2.46. EV/Operating income ≈ 37.99 (EV $165.55B).
- Market cap $131.74B at $141.30 per share.
Price & Technicals
Price $141.30 — uptrend (above 200-DMA); 1-month momentum negative. RSI(14) 36.27.
- Price $141.30 — uptrend (above 200-DMA); 1-month momentum negative.
Macro & Rates
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk Moderate. Leverage debt/equity 0.65 (moderate). Earnings stability: net-margin stdev 20.27pp over 10y.
- Composite risk: Moderate.
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Macro exposure
Rate-sensitive · High sensitivityMacro regime: Risk-on · Supportive. Prologis Inc. is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Analytical read
deterministic previewMarket regime: Risk-on · Supportive..
Peer comparison
Rate-sensitive groupHow PLD stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
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