TORVANTA
Real Estate · S&P 500 · data as of 2026-10-05

PLD stock analysis: Prologis

Prologis (PLD) is an S&P 500 company in Industrial REITs. It grades weakest on value and growth.

The model's view of PLD · subscribers

Where PLD ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with PLD · updated 2026-10-05 · from prices and SEC filings

PLD price performance

PLD against the S&P 500, one year
+0%+20%S&P 500 +18%PLD +16%2025-09-292026-10-05
Year to date+2.7%S&P 500 +14.5% · behind by 11.8 pts
1 year+12.9%S&P 500 +17.0% · behind by 4.2 pts
3 years+29.4%S&P 500 +89.3% · behind by 59.8 pts
5 years+17.4%S&P 500 +91.3% · behind by 73.9 pts

Total returns with dividends reinvested.

PLD factor grades

Each grade compares PLD with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

C-ValueP/E 32.3x (sector 32.1x)FCF yield 4.3% (sector 6.4%)
C-GrowthRevenue growth +7% (sector +6%)EPS growth -1% (sector +43%)
B-ProfitabilityOperating margin 52.4% (sector 38.5%)ROIC 5.1% (sector 7.7%)
BMomentum12-month change +13%From 52-wk high -14%

PLD in plain numbers

PLD key statistics

SectorReal Estate
IndustryIndustrial REITs
IndexS&P 500
Market value$119.4B
Revenue growth (y/y)+7%
Free-cash-flow yield4.3%
Dividend yield3.3%
Next earnings (expected)2026-10-14
Valuation measures
Market value$119.4B
Enterprise value$153.2B
P/E (trailing)32.3x
Forward P/E (Torvanta estimate)28.7x
PEG (Torvanta estimate)2.29
Price / sales13.3x
Price / book2.2x
EV / revenue17.1x
EV / EBITDA20.7x
Financial highlights
Revenue, last 12 months$8.9B
Net income, last 12 months$3.8B
EPS, last 12 months (GAAP)$3.97
Operating margin52.4%
Net margin42.5%
Return on equity7.1%
Return on invested capital5.1%
Cash$861.1M
Total debt$34.7B
Debt / equity0.65x
Interest cover4.6x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

PLD earnings trends

Revenue vs earnings
$0$574.4M$1.1B$1.7B$2.3BJun 2024 Revenue: $2.0BSep 2024 Revenue: $2.0BDec 2024 Revenue: $2.2BMar 2025 Revenue: $2.1BJun 2025 Revenue: $2.2BSep 2025 Revenue: $2.2BDec 2025 Revenue: $2.3BMar 2026 Revenue: $2.3BJun 2024 Net income: $861.3MSep 2024 Net income: $1.0BDec 2024 Net income: $1.3BMar 2025 Net income: $593.0MJun 2025 Net income: $571.2MSep 2025 Net income: $764.3MDec 2025 Net income: $1.5BMar 2026 Net income: $1.0BJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Net margin: 42.9%Net margin: 49.4%Net margin: 61.0%Net margin: 27.7%Net margin: 26.2%Net margin: 34.5%Net margin: 65.8%Net margin: 42.7%0%33%66%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.4$0.7$1.1$1.5Jun 2024 EPS (GAAP, diluted): $0.9Sep 2024 EPS (GAAP, diluted): $1.1Dec 2024 EPS (GAAP, diluted): $1.4Mar 2025 EPS (GAAP, diluted): $0.6Jun 2025 EPS (GAAP, diluted): $0.6Sep 2025 EPS (GAAP, diluted): $0.8Dec 2025 EPS (GAAP, diluted): $1.5Mar 2026 EPS (GAAP, diluted): $1.1Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026■ EPS (GAAP, diluted) Change from a year earlier: Jun 2025 -34% · Sep 2025 -24% · Dec 2025 +9% · Mar 2026 +67%

From the company's 10-Q and 10-K filings with the SEC.

Prologis financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$4.8B$6.0B$8.0B$8.2B$8.8B
Net income$3.0B$3.4B$3.1B$3.8B$3.4B
EPS (GAAP)$3.94$4.35$3.29$4.00$3.55

PLD earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-04-16$1.05+67%+7%+2.4%
2026-01-21$1.49+9%+2%-4.8%
2025-10-15$0.82-24%+9%+5.2%
2025-07-16$0.61-34%+9%-3.0%
2025-04-16$0.630%+9%+5.8%
2025-01-21$1.37+101%+16%+3.7%

About Prologis

HeadquartersSan Francisco, CA
Industry (SEC code)Real Estate Investment Trusts
Fiscal year endsDecember 31
Incorporated inMD
Listed onNYSE, OTC
FormerlyAMB PROPERTY CORP

From the company's SEC registration record.

Companies similar to PLD

CompanyMarket valueP/ERevenue growthOperating margin12-month change
PLD Prologis$119.4B32.3x+7%52.4%+13%
EQIX Equinix$101.0B65.9x+10%21.8%+34%compare
WELL Welltower$158.2B111.5x+38%n/a+30%compare
AMT American Tower$75.6B22.3x+7%44.8%-11%compare
SPG Simon Property$65.3B14.2x+15%47.4%+14%
DLR Digital Realty$63.2B47.6x+13%11.5%+5%
O Realty Income$50.9B39.0x+11%n/a-6%

All Real Estate stock ratings

Frequently asked questions

Is PLD stock a buy?

Torvanta does not tell individuals what to buy. Its grades for PLD are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is PLD's P/E ratio?

PLD trades at about 32.3 times its last 12 months of GAAP earnings reported to the SEC, and about 28.7 times Torvanta's own estimate of the next 12 months.

When does PLD report earnings next?

Based on its filing history, Torvanta expects Prologis to report around 2026-10-14.

Does PLD pay a dividend?

Yes. Its dividend yield is about 3.3%, and it has raised its dividend 12 years in a row.

How has PLD performed against the S&P 500?

Over the past year PLD returned +12.9%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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