# Prologis Inc. (PLD) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price $137.34, market value $133.5 billion.

## Valuation
- **P/E (trailing): 30.6×** (5-yr avg 31.8×, 3-yr avg 32.6×). Prologis Inc. trades at 30.6× trailing earnings, close to its own five-year average of 31.8×. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 40.3×, higher than trailing, so analysts expect earnings to fall.
- **Price / sales: 14.5×**. Each dollar of revenue is priced at 14.5×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 2.4×**. The shares trade at 2.4× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 20.9×**. Enterprise value is 20.9× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Earnings yield: 3.3%**. The inverse of the P/E: 3.3% of the price is earned each year.

## Profitability
- **Operating margin: 51.6%**. 51.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 37.9%**. 37.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.3%**. 6.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 4.3%**. Return on all capital, debt included, is 4.3%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 4.3%**. Each dollar of assets produces 4.3% of profit.

## Growth
- **Revenue growth (1 yr): 7.2%** (3-yr 13.7%/yr, 5-yr 14.6%/yr). Revenue grew 7.2% over the last year, against 14.6% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -11.2%** (3-yr -5.7%/yr, 5-yr 12.1%/yr). Earnings per share fell 11.2%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.66**. Debt is 0.66 times equity, moderate leverage.
- **Net debt / EBITDA: 4.2×**. It would take 4.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 2.94**. A Z-score of 2.94 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.12%** ($4.16 per share, trailing). Prologis Inc. yields 3.12%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 113%**. The dividend exceeds earnings (113% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 16**. 16 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 11.7%/yr** (1-yr 5.2%). The dividend has compounded at 11.7% a year over five years, doubling roughly every 6 years at that pace.

## Analyst view
- **Analyst consensus: buy** (13 analysts). 13 analysts cover Prologis Inc.; the consensus is buy, with an average price target of $158.23 (+15% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 25.9%** (YTD 9.2%, 3-mo -4.3%). The shares are up 25.9% over twelve months including dividends.
- **From 52-week high: -10.4%** (24.2% above the low). Trading 10% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 39**. An RSI of 39 is neutral.
- **Beta (1 yr): 0.45** (volatility 21%). Beta of 0.45 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=PLD · Page: https://foliofundamentals.com/stocks/pld

Not investment advice.