Income StatementBalance SheetCash FlowSegments
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Prologis Income Statement

Revenue, expenses, and profitability over time

Prologis generated $8.7B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $3.2B with a 36.69% net margin. Diluted EPS is $3.43, which grew 0.0% year-over-year. Based on the Q3 2025 filing.

Total Revenue (TTM)$8.7BOperating Income (TTM)$4.2BNet Income (TTM)$3.3BEps Diluted (TTM)$3.43
Latest FilingQ3 2025
Report Date2025-10-28
Market Cap$136.03B
P/E Ratio42.43
ROE6.07%

Operating Expenses

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Stock-Based Compensation Expense$54.5M$42.5M$67.4M$53.2M$44.0M$44.5M
Share-Based Compensation Expense$54.5M$42.5M$67.4M$53.2M$44.0M$44.5M
Stock-based compensation expense$63.3M$46.7M—$57.6M$49.4M$46.7M
Compensation and benefits$54.5M$42.5M—$53.2M$44.0M$44.5M
Depreciation and amortization$637.3M$649.3M$656.4M$652.1M$657.2M$648.0M
Other Costs and Expenses$11.4M$15.7M$7.7M$9.6M$11.7M$8.7M
General and administrative$106.6M$98.2M$102.7M$114.7M$106.9M$110.7M
Other operating charges$11.4M$15.7M$7.7M$9.6M$11.7M$8.7M
Stock-based compensation expense$54.5M$42.5M$67.4M$53.2M$44.0M$44.5M
Other operating expenses$527.2M$504.5M—$558.7M$564.6M$562.6M
Share-Based Compensation Expense$63.3M$46.7M—$57.6M$49.4M$46.7M
Share-Based Compensation$54.5M$42.5M$67.4M$53.2M$44.0M$44.5M
Total operating expenses$527.2M$504.5M—$558.7M$564.6M$562.6M
Lease Costs$445.2M$427.4M$438.5M$488.3M$488.0M$484.6M

Other

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Common Stock Dividends Per Share (Paid)$1.0$1.0—$1.0$1.0$1.0
Tax Withholding for Share-Based Payments$205.0K$5.0M$3.6M$15.4M—$3.3M
Common stock dividends per share cash paid$1.0$1.0—$1.0$1.0$1.0
Comprehensive Income Including Noncontrolling Interest$1.0B$637.7M—$405.9M$197.8M$851.4M
OCI Attributable to Noncontrolling Interest$1.8M-$9.6M—-$4.3M-$8.6M$691.0K
Reclassifications Net of Tax$859.8M$1.0B$1.3B$591.5M$569.7M$762.9M
Common Stock Dividends Per Share (Cash Paid)$1.0$1.0—$1.0$1.0$1.0
Comprehensive Income Attributable to Parent$1.0B$637.7M—$405.9M$197.8M$851.4M
Common Dividends Per Share Paid$1.0$1.0—$1.0$1.0$1.0
Cash Dividend per Common Share$1.0$1.0—$1.0$1.0$1.0
Comprehensive Income Including Noncontrolling Interest$1.0B$637.7M—$405.9M$197.8M$851.4M
Foreign Currency Translation Gains (Losses)$120.5M-$417.1M—-$230.7M-$429.0M$26.4M
Income Taxes Paid, Net$28.4M$18.2M—$44.0M$47.6M$14.1M
Interest Paid, Net$197.2M$164.8M—$269.4M$243.4M$198.5M
OCI Foreign Currency Gain (Loss) Arising During Period, Net of Tax$120.5M-$417.1M—-$230.7M-$429.0M$26.4M
Comprehensive income (loss), including noncontrolling interest$1.0B$637.7M—$405.9M$197.8M$851.4M
Acres Of Real Estate Property$122.0$342.0—$122.0$326.0$38.0
Amortization Of Financing Costs And Discounts$20.1M$20.3M$20.4M$20.8M$21.9M$21.7M
Common Unit Distributions Per Unit Cash Paid$0.96$0.96—$1.01$1.01$1.01
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$990.7M$589.5M—$363.6M$155.3M$793.7M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest$1.0B$637.7M—$405.9M$197.8M$851.4M
Deferred taxes$10.2M—$19.0M$6.7M—-$5.3M
Dividends And Other-$984.3M-$958.9M—-$1.0B-$1.0B-$1.0B
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash-$9.1M$13.7M-$26.1M$17.8M$6.3M—
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount$9.6M$9.0M—$11.6M$7.3M$7.7M
Distributions of earnings from equity method investees$129.1M$161.5M$145.2M$138.9M$153.4M$162.4M
Gain Loss On Foreign Currency Derivative And Other Gains Losses And Other Income Expense Net$37.2M-$37.9M$146.0M-$31.7M-$122.8M$101.0M
Gains On Dispositions Of Development Properties And Land Net$87.2M$32.0M$254.3M$27.5M$10.5M$15.4M
Gains On Other Dispositions Of Investments In Real Estate Net$199.3M$434.4M$252.8M$36.8M$47.0M$32.2M
Income Taxes Paid, Net$28.4M$18.2M—$44.0M$47.6M$14.1M
Increase Decrease In Operating Liabilities-$76.1M$266.2M$137.7M-$133.0M—$180.1M
Increase Decrease In Operating Receivables From Unconsolidated Entities—-$15.5M—-$16.6M—-$3.4M
Increase (Decrease) in Other Operating Assets$41.5M$156.6M$131.7M-$23.0M$63.2M$87.3M
Incremental Common Shares Attributable To Conversion Of Common Limited Partnership Units23.2M23.2M—23.5M22.7M22.8M
Add - Incremental shares under stock-based compensation plans (in shares)$3.7M$4.2M—$5.2M$4.7M$4.9M
Interest Paid, Excluding Capitalized Interest, Operating Activity$197.2M$164.8M—$269.4M$243.4M$198.5M
Management Fees Revenue$154.7M$135.4M——$147.2M$150.4M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$355.8M$445.1M-$1.1B-$275.6M—-$251.7M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$623.8M-$1.7B—-$1.6B-$1.0B-$1.1B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.1B$1.4B$1.3B$1.2B$1.2B$1.4B
Net Gains On Dispositions Of Development Properties And Land Net$87.2M$32.0M—$27.5M$10.5M$15.4M
Net Income Loss Attributable To Noncontrolling Interest$50.2M$57.7M—$46.6M$51.1M$57.0M
Net Proceeds From Payments On Credit Facilities And Commercial Paper-$526.1M—-$395.9M$299.2M—-$290.5M
Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable-$21.6M-$25.1M—-$15.0M-$13.9M-$18.8M
Noncontrolling Interest Increase From Sale Of Parent Equity Interest$4.8M$15.2M—$13.2M$13.2M$32.7M
Number Of Contracts Exercised86.0030.00—26.0026.0031.00
Number Of Real Estate Properties Purchased8.0046.00—7.003.001.00
Number of reportable segments———$2.0——
Operating Expenses Before Gains On Real Estate Transactions Net$1.3B$1.3B$1.3B$1.3B$1.3B$1.3B
Operating Income Loss Before Gains Loss On Real Estate Transactions Net$736.8M$784.5M$914.2M$814.2M$855.2M$892.6M
Net gains (losses) deferred$10.7M-$8.7M—-$2.9M$4.4M$3.7M
Other Real Estate Acquisition Cost Acquired During Period$50.1M$184.8M—$59.9M$220.5M$15.4M
Other Real Estate Revenue$836.0K$3.9M——$11.4M$9.3M
Payment For Property Improvements$96.1M$122.6M$137.6M$34.4M$68.8M$109.4M
Payment Of Financing And Stock Issuance Costs$6.7M$9.2M$2.0M$2.6M$22.7M$5.4M
Payments for hedge—————$9.2M
Payments For Leasing Costs Commissions And Tenant Improvements$111.4M$131.8M$152.4M$123.1M$152.2M$138.2M
Payments For Repurchase Of Redeemable Noncontrolling Interest$253.0K$0.0$1.2M$4.0M$13.9M$2.0M
Payments of Dividends$892.8M$892.9M$893.0M$939.9M$941.6M$941.3M
Payment, Tax Withholding, Share-Based Payment Arrangement$205.0K$5.0M$3.6M$15.4M—$3.3M
Cash disbursed for acquisitions$399.4M$1.3B$507.3M$779.7M$374.0M$92.8M
Payments To Develop Real Estate Assets$835.4M$821.7M—$776.2M$555.1M$627.4M
Payments To Investments In And Advances To Unconsolidated Entities$49.7M$115.4M$60.7M$27.4M$5.2M$18.1M
Payments To Minority Shareholders Excluding Parent Company Distributions$91.5M$66.0M$67.9M$75.0M$73.5M$82.2M
Proceeds from Equity Method Investment, Distribution, Return of Capital$16.0M$36.7M$4.3M$28.3M$30.7M$17.1M
Net cash related to derivative contracts under collateral exchange arrangements$2.4M——$4.9M——
Proceeds From Issuance Of Debt Excluding Line Of Credit$1.2B$1.3B$222.1M$520.2M$1.3B$1.2B
Proceeds from Noncontrolling Interests$4.8M$15.2M$51.8M$13.2M$13.2M$32.7M
Proceeds From Real Estate And Real Estate Joint Ventures$851.0M$738.4M$2.0B$157.0M$99.4M$84.5M
Real Estate Acquisition Cost Acquired During Period Excluding Other Real Estate Investments$283.5M$1.4B—$739.5M$195.3M$77.4M
Rental Revenue$1.9B$1.9B$1.9B$2.0B$2.0B$2.1B
Repurchase Of And Repayments On Debt Excluding Line Of Credit$1.7M$1.9M$1.9M$71.2M$1.2M$136.7M
Service Management Costs$70.5M$61.3M——$64.9M$69.3M
Stock-based compensation$54.5M$42.5M$67.4M$53.2M$44.0M$44.5M
Square Footage Of Real Estate Property Operating Properties Purchased$2.3M$8.8M—$2.3M$1.0M$600.0K
Stock Issued During Period Value Redemptions Of Non Controlling Interests-$253.0K——-$4.0M-$704.0K-$1.6M
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture$63.3M$46.7M—$57.6M$49.4M$46.7M
Straight Line Rents And Amortization Of Above And Below Market Leases$144.3M$167.0M$174.3M$180.4M$187.8M$162.5M
Unrealized Gain Loss On Foreign Currency Transaction Mark To Market Derivatives$6.0M-$67.0M—-$40.0M-$91.0M$34.0M
Weighted Average Potentially Dilutive Shares And Units Outstanding31M30.6M—32M30.5M30.1M
Comprehensive Income (Loss), Total$1.0B$637.7M—$405.9M$197.8M$851.4M
Comprehensive Income, Including Noncontrolling Interest$1.0B$637.7M—$405.9M$197.8M$851.4M
Currency Translation Adjustment, Net of Tax$120.5M-$417.1M—-$230.7M-$429.0M$26.4M
Other Comprehensive Income (Loss)$990.7M$589.5M—$363.6M$155.3M$793.7M
Comprehensive Income Including Noncontrolling Interest$1.0B$637.7M—$405.9M$197.8M$851.4M
Total Comprehensive Income$1.0B$637.7M—$405.9M$197.8M$851.4M

Earnings Per Share

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Common stock dividends per share cash paid$1.0$1.0—$1.0$1.0$1.0
Dividends Per Share, Cash Paid$1.0$1.0—$1.0$1.0$1.0
Common Stock Dividends Per Share Cash Paid$1.0$1.0—$1.0$1.0$1.0
Basic earnings per share$0.93$1.08$1.38$0.64$0.61$0.82
Diluted earnings per share$0.92$1.08$1.37$0.63$0.61$0.82
Common Stock Dividends Per Share (Cash Paid)$1.0$1.0—$1.0$1.0$1.0
Dividends per common share$1.0$1.0—$1.0$1.0$1.0
Dividends Per Share (Paid)$1.0$1.0—$1.0$1.0$1.0
Common Stock Dividends Per Share (Cash Paid)$1.0$1.0—$1.0$1.0$1.0
Common stock dividends per share cash paid$1.0$1.0—$1.0$1.0$1.0
Common stock dividends per share cash paid$1.0$1.0—$1.0$1.0$1.0
Weighted-average shares, basic926.3M926.4M155K927.3M928.5M928.9M
Weighted-average shares, diluted953.2M953.8M60K956.1M955.9M956.6M

Net Income

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Net income applicable to common shareholders$859.8M$1.0B$1.3B$591.5M$569.7M$762.9M
Net Income Allocated to Common (Diluted)$881.4M$1.0B—$606.5M$583.7M$781.7M
Comprehensive income (loss), including noncontrolling interest$1.0B$637.7M—$405.9M$197.8M$851.4M
Net earnings to common$859.8M$1.0B$1.3B$591.5M$569.7M$762.9M
Net Income Available to Common Stockholders (Diluted)$881.4M$1.0B—$606.5M$583.7M$781.7M
Net income attributable to noncontrolling interests$50.2M$57.7M—$46.6M$51.1M$57.0M
Net Income Available to Common Shareholders$859.8M$1.0B$1.3B$591.5M$569.7M$762.9M
Net income$861.3M$1.0B$1.3B$593.0M$571.2M$764.3M
Preferred stock dividends$1.5M$1.5M$1.5M$1.5M$1.5M$1.4M
Net income attributable to common stock$859.8M$1.0B$1.3B$591.5M$569.7M$762.9M

Tax

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Cash Paid for Income Taxes$28.4M$18.2M—$44.0M$47.6M$14.1M
Income Taxes Paid, Net$28.4M$18.2M—$44.0M$47.6M$14.1M
Income tax expense$43.1M$4.2M$86.9M$43.4M$23.4M$54.5M
Deferred Income Tax Expense (Benefit)$10.2M——$6.7M—-$5.3M
Income Taxes Paid, Net$28.4M$18.2M—$44.0M$47.6M$14.1M
Income and Other Taxes$28.4M$18.2M—$44.0M$47.6M$14.1M

Other Income & Expense

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Cash Paid for Interest$197.2M$164.8M—$269.4M$243.4M$198.5M
Income from equity method investments$102.3M$84.7M$94.1M$67.9M$107.7M$92.8M
Gain (loss) on extinguishment of debt$0.0$0.0$0.0$0.0$0.0$0.0
Equity Method Investment Dividends$129.1M$161.5M$145.2M$138.9M$153.4M$162.4M
Realized Foreign Currency Gain (Loss)$22.0M$10.0M—$9.0M$4.0M$3.0M
Interest expense$208.3M$230.1M$232.2M$231.8M$251.9M$258.3M
Distributions of earnings from equity method investees$129.1M$161.5M$145.2M$138.9M$153.4M$162.4M
Other income (expense), net-$68.8M-$183.3M$0.0-$195.5M-$267.0M-$64.5M

Income Before Tax

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Income before income taxes$954.6M$1.1B$1.4B$682.9M$645.7M$875.8M

Operating Income

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Operating income$1.0B$1.3B$1.4B$878.4M$912.7M$940.3M

Revenue

MetricQ2 '24Q3 '24Q4 '24Q1 '25Q2 '25Q3 '25
Total revenue$2.0B$2.0B$2.2B$2.1B$2.2B$2.2B