Prologis Inc. (PLD) 10-K Red Flags
Risk signals extracted deterministically from Prologis Inc.’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (10)
- 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.
- 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.
Filings & 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.
- 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.
Full PLD analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
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