Prologis, Inc.

Listed Company

PLDCIK 0001045609NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$8.79B

Net Income

$3.33B

Total Assets

$98.72B

Equity

$53.19B

Shares Out

932.34M

Op. Cash Flow

$5.01B

PLD$149.76+40.67% · past yearDBEQ Basic

Daily closing prices

Business

Prologis, Inc. is a self-administered, self-managed REIT that owns, manages, and develops logistics real estate across multiple countries, operating a global portfolio strategically located in high-barrier, high-growth markets. The company provides logistics facilities and integrated infrastructure solutions including property management, leasing, development, and energy and sustainability services through its Prologis Essentials platform. Prologis operates through two reportable segments: Real Estate, which generates the majority of consolidated revenues through rental operations and development, and Strategic Capital, which manages co-investment ventures with institutional partners. Properties serve a diversified customer base across multiple industries and supply chain functions.

Summary from 10-K filed 2026-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental	8,159	7,515	6,819	4,913	4,148
Strategic capital	592	672	1,200	—	—
Development management and other	39	15	5	—	—
Total revenues	8,790	8,202	8,023	5,974	4,759
Rental	1,964	1,765	1,625	1,206	1,041
Strategic capital	271	292	386	—	—
General and administrative	469	419	390	331	293
Depreciation and amortization	2,626	2,581	2,485	1,813	1,578
Other	46	47	53	40	22
Total expenses	5,376	5,104	4,939	3,693	3,142
Operating income before gains on real estate transactions, net	3,414	3,098	3,084	2,280	1,617
Gains on dispositions of development properties and land, net	258	414	462	598	817
Gains on other dispositions of investments in real estate, net	686	904	161	589	773
Operating income	4,358	4,416	3,708	3,468	3,207
Earnings from unconsolidated entities, net	403	354	307	311	404
Interest expense	−1,002	−864	−641	−309	—
Foreign currency, derivative and other gains (losses) and other income (expense), net	15	209	87	242	—
Gains (losses) on early extinguishment of debt, net	−3	536,000	3	−20	−188
Total other income (expense)	−589	−301	−244	223	116
Earnings before income taxes	3,769	4,115	3,464	3,691	3,323
Income tax expense	−204	−167	−211	−135	−174
Consolidated net earnings	3,565	3,948	3,253	3,555	3,149
Less net earnings attributable to noncontrolling interests	237	216	194	191	209
Net earnings attributable to controlling interests	3,328	3,732	3,059	3,365	2,940
Less preferred stock/unit dividends/distributions	6	6	6	6	6
Net earnings attributable to common stockholders/unitholders	3,322	3,726	3,053	3,359	2,934
Weighted average common shares/units outstanding - Basic	928	926	924	786	739
Weighted average common shares/units outstanding - Diluted	957	954	952	812	765
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	3.58	4.02	3.3	4.28	3.97
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	3.56	4.01	3.29	4.25	3.94

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Investments in real estate properties	95,129	91,246	88,667	81,623	53,005
Less accumulated depreciation	14,729	12,758	10,931	9,036	7,668
Net investments in real estate properties	80,400	78,488	77,735	72,587	45,337
Investments in and advances to unconsolidated entities	11,094	10,079	9,544	9,699	8,611
Assets held for sale or contribution	203	249	462	531	670
Net investments in real estate	91,697	88,816	87,741	82,817	54,618
Cash and cash equivalents	1,146	1,319	530	278	556
Other assets	5,881	5,194	4,750	4,801	3,312
Total assets	98,724	95,329	93,021	87,897	58,486
Debt	35,037	30,879	29,001	23,876	215
Accounts payable and accrued expenses	1,964	1,769	1,766	1,712	1,253
Other liabilities	3,970	4,064	4,431	4,447	1,776
Total liabilities	40,970	36,712	35,197	30,034	20,744
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,279 shares issued and outstanding and 100,000 preferred shares authorized at December 31, 2025 and 2024	64	64	64	64	64
Common stock; $0.01 par value; 929,153 and 926,283 shares issued and outstanding at December 31, 2025 and 2024, respectively	9	9	9	9	7
Additional paid-in capital	54,699	54,464	54,250	54,065	35,562
Accumulated other comprehensive loss	−676	−120	−514	−444	−878
Distributions in excess of net earnings	−902	−466	−627	−458	−1,328
Total Prologis, Inc. stockholders equity	53,193	53,951	53,182	53,237	33,427
Noncontrolling interests	4,561	4,666	4,642	4,626	4,315
Total equity	57,754	58,617	57,824	57,863	37,742
Total liabilities and equity	98,724	95,329	93,021	87,897	58,486

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Straight-lined rents and amortization of above and below market leases	−691	−645	−613	−268	−148
Equity-based compensation awards	185	232	268	175	113
Operating distributions from unconsolidated entities	645	562	680	410	440
Decrease (increase) in operating receivables from unconsolidated entities	1	21	−82	−64	−14
Amortization of debt discounts and debt issuance costs, net	86	79	75	24	9
Unrealized foreign currency and derivative losses (gains), net	126	−67	72	−92	−173
Deferred income tax expense (benefit)	4	21	18	13	1
Decrease (increase) in other assets	−422	−342	−103	−71	—
Increase (decrease) in accounts payable and accrued expenses and other liabilities	226	195	255	109	177
Net cash provided by (used in) operating activities	5,008	4,912	5,373	4,126	2,996
Real estate development	−2,781	−3,206	−3,399	−3,118	−2,640
Real estate acquisitions	−1,801	−2,328	−4,196	−2,492	−2,320
Duke Transaction, net of cash acquired	0	0	−33	−92	0
Tenant improvements and lease commissions on previously leased space	−562	−500	−389	−339	−329
Property improvements	−327	−386	−303	−211	−170
Proceeds from dispositions and contributions of real estate	2,246	3,790	1,764	2,064	4,222
Investments in and advances to unconsolidated entities	−312	−541	−284	−442	−798
Return of investment from unconsolidated entities	104	58	348	77	58
Proceeds from the settlement of net investment hedges	5	16	37	59	3
Payments on the settlement of net investment hedges	−26	−3	−2	−3	−17
Proceeds from repayment of notes receivable backed by real estate	0	0	37	0	0
Purchase of short-term investments	−177	0	0	—	—
Net cash provided by (used in) investing activities	−3,630	−3,099	−6,419	−4,499	−1,990
Dividends/distributions paid on common and preferred stock/units	−3,765	−3,570	−3,229	−2,495	−1,873
Noncontrolling interests contributions	71	73	21	13	74
Noncontrolling interests distributions	−327	−296	−235	−270	−375
Settlement of noncontrolling interests	−34	−2	−70	−89	−153
Tax paid with shares of the Parent withheld	−24	−31	−25	−28	−20
Debt and equity issuance costs paid	−40	−31	−59	−46	−23
Net proceeds from (payments on) credit facilities and commercial paper	−204	−730	−567	294	—
Repurchase of and payments on debt	−702	−919	−272	−1,381	−2,560
Proceeds from the issuance of debt	3,461	4,506	5,755	4,116	3,598
Net cash provided by (used in) financing activities	−1,564	−1,000	1,320	116	−1,008
Effect of foreign currency exchange rate changes on cash	13	−25	−22	−21	−40
Net increase (decrease) in cash and cash equivalents	−173	788	252	−278	−42

Filings

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Frequently asked questions

What is Prologis, Inc.'s CIK number?

Prologis, Inc.'s SEC CIK number is 0001045609 (1045609). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Prologis, Inc.'s SEC filings?

All of Prologis, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Prologis, Inc. last report earnings?

Prologis, Inc. (PLD) most recently filed an earnings 8-K with the SEC on Jul 16, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-305416). This is Prologis, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Prologis, Inc.'s most recent earnings 8-K?

Prologis, Inc.'s latest earnings 8-K (Item 2.02) was filed Jul 16, 2026 under accession 0001193125-26-305416. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Prologis, Inc.'s latest earnings 8-K →
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