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PLD

Prologis Inc

US$128.15-3.36% (-US$4.46)
Day's range
US$129.69 – US$133.14
Day's volume
US$779.6m
52-week range
US$107.84 – US$148.88

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See how PLD weighs in your net worth, what it has paid you and how far it is from your target allocation.

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PLD in numbers

Market cap
US$121.1bn
P/E
32.14
P/B
2.23
Dividend yield (12m)
3.29%
Net debt/EBITDA
4.57

The 12-month dividend yield of PLD is 3.29%, above its 5-year average of 2.74%.

PLD price history

01/10/202501/10/2026
Compare with

PLD risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+20.52%+31.35%+23.62%
Volatility (annualised)18.97%27.95%29.79%
Largest drawdown-6.73%-22.88%-38.52%
Positive months8/1222/3633/60

How much did investing in PLD return?

US$1,000.00 invested on 01/10/2021 would be worth US$1,024.31 today.

Value today in PLD
US$1,024.31
Return over the period
+2.43%
Return per year
+0.48%
In the S&P 500
US$1,660.20

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

PLD fundamentals

Valuation

  • P/E
    32.14
  • P/B
    2.23
  • EV/EBITDA
    20.94
  • EV/EBIT
    33.02
  • EV/Revenue
    17.31
  • P/EBIT
    25.81
  • P/S
    13.53
  • P/OCF
    23.57
  • P/FCF
    —
  • Earnings yield
    3.03%
  • PEG ratio
    —
  • Earnings per share
    US$3.99
  • Book value per share
    US$57.39

Debt

  • Net debt
    US$33.8bn
  • Net debt/EBITDA
    4.57
  • Net debt/Equity
    0.63
  • Debt/Equity
    0.65
  • Current ratio
    —
  • Quick ratio
    —
  • Cash ratio
    —

Efficiency

  • Gross margin
    —
  • EBITDA margin
    82.65%
  • Operating margin
    52.42%
  • Net margin
    41.54%
  • Asset turnover
    0.09

Profitability

  • ROE
    6.95%
  • ROA
    3.79%
  • ROIC
    5.10%
  • Payout
    105.84%

Growth

  • Revenue CAGR (5 years)
    14.19%
  • Earnings CAGR (5 years)
    22.31%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is PLD's fair price?

Two classic value formulas, with today's numbers. The current price is US$128.15.

Graham's fair price
US$71.75
44.01% below the price

√(22.50 × US$3.99 × US$57.39)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$56.80
55.68% below the price

US$3.41 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

PLD indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E35.6526.2540.3030.9442.3849.7441.8622.44
P/B2.231.822.321.963.732.312.911.66
EV/EBITDA21.8418.2324.5124.1825.9724.4425.6418.12
Dividend yield3.16%3.63%2.61%2.80%1.50%2.33%2.38%3.27%
Earnings per shareUS$3.58US$4.03US$3.31US$3.64US$3.97US$2.00US$2.13US$2.62
Book value per shareUS$57.22US$58.21US$57.50US$57.65US$45.17US$43.23US$30.66US$35.37
ROE6.26%6.92%5.75%6.32%8.79%4.63%6.94%7.40%
ROIC4.73%5.07%4.26%4.35%9.18%4.07%5.29%4.94%
EBITDA margin79.45%85.31%77.18%88.39%100.54%82.93%89.76%93.97%
Net margin37.86%45.50%38.13%56.33%61.77%33.38%47.23%58.81%
Net debt/EBITDA4.854.234.604.47-0.074.413.624.08

PLD financial statements

Line202520242023202220212020
Net revenueUS$8.8bnUS$8.2bnUS$8bnUS$6bnUS$4.8bnUS$4.4bn
Cost of sales——————
Gross profit——————
EBITDAUS$7bnUS$7bnUS$6.2bnUS$5.3bnUS$4.8bnUS$3.7bn
EBITUS$4.4bnUS$4.4bnUS$3.7bnUS$3.5bnUS$3.2bnUS$2.1bn
Net finance result-US$588.5m-US$301m-US$243.6mUS$223.3mUS$115.9m-US$371.9m
Profit before taxUS$3.8bnUS$4.1bnUS$3.5bnUS$3.7bnUS$3.3bnUS$1.7bn
Income tax-US$204m-US$166.9m-US$211m-US$135.4m-US$174.3m-US$130.5m
Net incomeUS$3.3bnUS$3.7bnUS$3.1bnUS$3.4bnUS$2.9bnUS$1.5bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does PLD pay dividends?

Dividend yield per year

  • 2.73%2017
  • 3.27%2018
  • 2.38%2019
  • 2.33%2020
  • 1.50%2021
  • 2.80%2022
  • 2.61%2023
  • 3.63%2024
  • 3.16%2025
  • 2.47%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend15/09/202630/09/2026US$1.07
Dividend15/06/202630/06/2026US$1.07
Dividend16/03/202631/03/2026US$1.07
Dividend15/12/202531/12/2025US$1.01
Dividend15/09/202530/09/2025US$1.01
Dividend16/06/202530/06/2025US$1.01
Dividend17/03/202531/03/2025US$1.01
Dividend13/12/202431/12/2024US$0.96
Dividend13/09/202430/09/2024US$0.96
Dividend14/06/202428/06/2024US$0.96
Dividend14/03/202429/03/2024US$0.96
Dividend14/12/202329/12/2023US$0.87
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend14/09/202329/09/2023US$0.87
Dividend14/06/202330/06/2023US$0.87
Dividend15/03/202331/03/2023US$0.87
Dividend15/12/202230/12/2022US$0.79
Dividend13/09/202230/09/2022US$0.79
Dividend14/06/202230/06/2022US$0.79
Dividend16/03/202231/03/2022US$0.79
Dividend10/12/202131/12/2021US$0.63
Dividend15/09/202130/09/2021US$0.63
Dividend14/06/202130/06/2021US$0.63
Dividend17/03/202131/03/2021US$0.63
Dividend16/12/202031/12/2020US$0.58
Dividend15/09/202030/09/2020US$0.58
Dividend12/06/202030/06/2020US$0.58
Dividend12/03/202031/03/2020US$0.58
Dividend17/12/201931/12/2019US$0.53
Dividend18/09/201930/09/2019US$0.53
Dividend11/06/201928/06/2019US$0.53
Dividend13/03/201929/03/2019US$0.53
Dividend14/12/201831/12/2018US$0.48
Dividend13/09/201828/09/2018US$0.48
Dividend12/06/201829/06/2018US$0.48
Dividend13/03/201829/03/2018US$0.48
Dividend14/12/201729/12/2017US$0.44
Dividend14/09/201729/09/2017US$0.44
Dividend09/06/201730/06/2017US$0.44
Dividend10/03/201731/03/2017US$0.44
Dividend14/12/201630/12/2016US$0.42

About Prologis

Sector
Finance, insurance and real estate

Questions about PLD

How much is PLD today?

PLD is at US$128.15 (-3.36% on the day), last traded on 01/10/2026.

How much did PLD pay in dividends in 2025?

PLD paid US$4.04 per share in 2025, a dividend yield of 3.16%.

What are the P/E and P/B of PLD?

PLD trades at a P/E of 32.14 and a P/B of 2.23.

How much did PLD return in 12 months?

PLD returned 20.52% in 12 months, with annualised volatility of 18.97% and a largest drawdown of -6.73%.