Prologis, Inc.
Financial Performance
Prologis Revenue & Financials
Revenue
$8.8B (FY2025)
Market Cap
$126.7B
Net Income
$3.3B
Employees
2,802
What is Prologis's revenue?
Prologis had $8.8B in revenue for fiscal year 2025, up 7.2% from 2024. Net income was $3.3B.
- Latest revenue
- $8.8B (FY2025)
- Year-over-year
- +7.2%
- Growth rate (CAGR)
- 14.8% over 9 years
- Peak revenue
- $8.8B (FY2025)
- Years of data
- 10
- Employees
- 2,802
Financial Analysis
FY2025 revenue rose 7.2% to $8.79 billion and net earnings were $3.56 per diluted share, down from $4.01 in 2024 when gains on sales were higher. In Q2 2026 Prologis reported net earnings of $1.06 billion ($1.13 per share) and Core FFO of $1.63 per share versus $1.46 a year earlier, then raised full-year Core FFO guidance to $6.22-$6.30 and development starts guidance to $4.5-$5.5 billion.
Revenue Trend Analysis
YoY Change
+7.2%
9-Year CAGR
+14.8%
Peak Year
2025
Trend
Consistent Growth
Prologis, Inc. has 10 full fiscal year figures on this page, compounding at +14.8% annually over 9 years. The most recent year saw a 7.2% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $8.8B. Of 9 comparable year-over-year steps, 9 showed growth and 0 showed a decline.
Annual revenue history
Click any row to see year details.
Prologis, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $5B | $98.7B | $41B | $53.2B | Form 10-K |
| FY2024ended Dec 31, 2024 | $4.9B | $95.3B | $36.7B | $54B | Form 10-K |
| FY2023ended Dec 31, 2023 | $5.4B | $93B | $35.2B | $53.2B | Form 10-K |
| FY2022ended Dec 31, 2022 | $4.1B | $87.9B | $30B | $53.2B | Form 10-K |
| FY2021ended Dec 31, 2021 | $3B | $58.5B | $20.7B | $33.4B | Form 10-K |
| FY2020ended Dec 31, 2020 | $2.9B | $56.1B | $19.7B | $32B | Form 10-K |
| FY2019ended Dec 31, 2019 | $2.3B | $40B | $14B | $22.7B | Form 10-K |
| FY2018ended Dec 31, 2018 | $1.8B | $38.4B | $12.6B | $22.3B | Form 10-K |
| FY2017ended Dec 31, 2017 | $1.7B | $29.5B | $10.8B | $15.6B | Form 10-K |
| FY2016ended Dec 31, 2016 | $1.4B | $30.2B | $11.8B | $15B | Form 10-K |
Keep researching Prologis
Prologis Revenue and Financial FAQ
What was Prologis's total revenue and net income for FY2025?
In FY2025, Prologis reported total revenues of $8.79 billion and net income attributable to common stockholders of $3.32 billion, driven by strong rental rate growth on lease renewals and steady Strategic Capital management fees.
What is Prologis's market capitalization and equity valuation profile?
Prologis carries a market capitalization typically ranging between $105 billion and $125 billion on the NYSE, making it by far the largest industrial real estate company and one of the highest-valued REITs in global capital markets.
What is Core FFO (Funds From Operations) and how does Prologis perform on this metric?
Funds From Operations (FFO) is the standard cash flow metric for REITs, adjusting net income for real estate depreciation and gains on sales. Prologis generates strong Core FFO per share, consistently covering its dividend while funding internal development pipelines.
What is Prologis's dividend payout policy and yield?
As a REIT, Prologis is legally required to distribute at least 90% of its taxable income to shareholders. Prologis has an unbroken record of growing its quarterly cash dividend (typically yielding 3.0% to 3.8%), supported by a conservative payout ratio relative to Core FFO.
What is Prologis's balance sheet strength and credit rating?
Prologis maintains one of the strongest balance sheets in the real estate sector, holding investment-grade credit ratings of 'A3' from Moody's and 'A' from S&P Global Ratings, allowing it to issue corporate bonds at exceptionally low borrowing costs.
How large is Prologis's global development pipeline?
Prologis actively manages a global development pipeline typically valued between $3 billion and $4 billion across North America, Europe, Asia, and Latin America, developing high-throughput logistics facilities with expected development margins exceeding 20%.
How does 'lease mark-to-market' drive future embedded revenue growth for Prologis?
Because market rents in gateway logistics hubs escalated significantly over recent years, Prologis possesses a large embedded 'net effective lease mark-to-market' (often 30% to 50%+ on expiring leases), ensuring automatic top-line revenue growth as older leases roll over to prevailing market rates.
What is the total value of assets under management (AUM) within Prologis's Strategic Capital funds?
Prologis's Strategic Capital business manages over $60 billion in third-party institutional co-investment assets, generating hundreds of millions of dollars in annual asset management and transaction fees with minimal balance sheet equity dilution.
What is Prologis’s annual revenue and earnings profile?
Prologis generates between $8 billion and $9+ billion in annual gross revenues, primarily derived from rental income, property development, and hundreds of millions in Strategic Capital fund management fees.
What is Core FFO and how does Prologis perform on this metric?
Core Funds From Operations (Core FFO) is the standard cash flow metric for REITs; Prologis consistently generates industry-leading Core FFO per share growth, supported by contractual rent escalations and mark-to-market lease rollover gains.
What is Prologis’s dividend growth history?
Prologis has maintained a stellar track record of annual dividend growth, consistently increasing its common share dividend while maintaining a conservative payout ratio below 75% of Core FFO to fund internal development pipelines.
What are Prologis’s credit ratings and balance sheet metrics?
Prologis possesses one of the strongest balance sheets in the entire REIT sector, holding elite A3 / A credit ratings from Moody’s and S&P Global, low debt-to-market capitalization, and a conservative loan-to-value ratio.
How does Prologis fund its multi-billion-dollar development pipeline?
Prologis funds development through retained cash flow, debt issuances at low corporate bond yields, recycling capital by selling mature non-core assets into its co-investment Strategic Capital funds, and institutional joint venture equity.
What is Prologis’s occupancy rate across its global logistics portfolio?
Prologis maintains an exceptionally high portfolio occupancy rate, typically averaging between 96% and 98% worldwide, reflecting the critical, non-discretionary nature of its premier infill distribution locations.
How do interest rate fluctuations impact Prologis financially?
While higher interest rates increase refinancing costs, over 85%–90% of Prologis’s debt is fixed-rate with long average maturities; additionally, the company’s strong pricing power and high rent inflation offset interest expense increases.
What is the estimated market value of Prologis’s real estate portfolio?
Prologis owns and manages real estate assets valued at over $200+ billion across the Americas, Europe, and Asia, representing the world’s most valuable commercial logistics real estate portfolio.
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CorpDigest. "Prologis Revenue & Financials." CorpDigest, https://corpdigest.com/company/prologis/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Prologis reported $8.8B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/prologis/financials" target="_blank" rel="noopener">CorpDigest — Prologis financials</a></div>Related Financial Audits
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