Prologis (PLD): analysis in plain words
Is Prologis cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Prologis (PLD) is listed on the NYSE and we classify it in real estate. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Prologis according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Prologis (PLD) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $131.36 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 28.9x | Price over earnings per share |
| Revenue growth | +10.2% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 43.1% | Profit for every 100 of sales |
| Net debt / EBITDA | 5.1x | Years of operating profit to repay debt |
| Dividend yield | 3.32% | Annual dividend over price |
| Market cap | $127.7 billion | What the stock market values it at |
The Prologis figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any PLD figure that is not available shows as N/A: we do not estimate it.
How Prologis makes money
Prologis is a REIT that owns and leases logistics warehouses near major cities in the Americas, Europe and Asia. Its Real Estate segment, collecting rent from tenants such as Amazon, logistics firms and retailers, generates most revenue, while Strategic Capital earns fees for managing property funds on behalf of other investors.
Over the last 12 months, Prologis brought in revenue of $9.9 billion. For every 100 it sells, Prologis keeps 75.7 after the direct cost of what it sells (gross margin) and 42.9 after all operating costs (operating margin). With 2,802 full-time employees, that is about $4 million of revenue per employee.
Prologis against its sector
To know whether a Prologis figure is high or low you have to put it next to similar companies. This table compares Prologis with the median of the 9 real estate companies Fintols covers, with data as of November 4, 2026.
| Figure | Prologis | real estate median |
|---|---|---|
| P/E | 28.9x | 28.9x (9) |
| Revenue growth | +10.2% | +10.4% (9) |
| Net margin | 43.1% | 37.7% (9) |
| Dividend yield | 3.32% | 3.60% (9) |
| Net debt / EBITDA | 5.1x | 5.5x (9) |
In short, Prologis sits close to the real estate median on almost everything: it neither stands out nor lags on these figures. By size, Prologis ranks number 2 of 7 real estate companies quoted in USD on Fintols.
The bull case for Prologis
What works in favour of Prologis, according to its figures as of November 4, 2026:
- Prologis keeps 43.1 of every 100 it sells as net profit, against 37.7 for the median real estate company: a margin like that leaves money to invest, buy back shares or pay dividends.
- For income seekers, Prologis pays a dividend yielding 3.32% at today's price, using 93% of its profit to fund it.
- Prologis generates real cash: $5.7 billion of free cash flow over 12 months, 4.4% of its stock market value.
The main risk for Prologis
Debt is heavy: Prologis carries net debt equal to 5.1x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
On top of that: analysts expect lower Prologis earnings: its P/E on estimated next-12-month earnings rises to 36.5x, from 28.9x on the last 12 months.
And, like the rest of real estate, Prologis is exposed to interest rates, which raise its borrowing costs and lower property values, and vacant space.
Frequently asked questions about Prologis
Is it a good time to buy Prologis stock?
Fintols does not tell you whether to buy or sell Prologis, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Prologis stock trades at $131.36, 14% below its 52-week high ($153.35) and 8% above its low ($121.40). Its P/E is 28.9x against a real estate median of 28.9x, and 36.5x on the earnings analysts expect over the next 12 months. With Prologis, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Prologis pay a dividend?
Yes. As of November 4, 2026, Prologis pays $4.28 per share a year, which at today's price is a yield of 3.32%. It uses 93% of its profit to pay it. The real estate median on Fintols is 3.60%.
Is Prologis stock expensive?
It depends on what you compare it with. On P/E, Prologis trades at 28.9x its last 12 months of earnings: in line with the real estate median (28.9x). Including its debt, Prologis is valued at 23.5x its EBITDA (EV/EBITDA). A high P/E alone does not make Prologis expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Prologis's competitors?
On Fintols we compare Prologis with Welltower, American Tower and Simon Property, which are also in real estate. As of November 4, 2026, Welltower is worth $181.9 billion and trades on a P/E of 105.1; American Tower is worth $90.4 billion and trades on a P/E of 27.4; Simon Property is worth $86.7 billion and trades on a P/E of 16.1. Each has a side-by-side comparison with Prologis below.
Prologis competitors
- Welltower (WELL) analysis · Prologis vs Welltower comparison
- American Tower (AMT) analysis · Prologis vs American Tower comparison
- Simon Property (SPG) analysis · Prologis vs Simon Property comparison
To understand Prologis better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- How to Read a Balance Sheet: A Beginner's Guide
More companies like Prologis: real estate stocks and S&P 500 companies. Open the full PLD analysis with its valuation and scenarios. Educational content about Prologis, not investment advice.