Prologis, Inc.
Real EstateNYSE:PLD · New York Stock Exchange
+$1.55 today
Vol 1.71M · Avg 3.50M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$8.9B of revenue converted into $3.7B of net income for the selected period. Gross margin is 43.8% and net margin is 41.4%, showing how much revenue survives after costs and taxes. EPS is $3.96, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.8B +7.2% | $8.2B +2.2% | $8.0B +34.3% | $6.0B +25.5% | $4.8B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $3.6B +72.6% | $2.1B +2.3% | $2.0B +33.2% | $1.5B +20.9% | $1.2B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $5.2B -14.7% | $6.1B +2.2% | $6.0B +34.7% | $4.5B +27.2% | $3.5B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 59.6% -15.3pp | 74.9% -0.0pp | 74.9% +0.2pp | 74.7% +1.0pp | 73.8% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $477.8M +14.1% | $418.8M +7.3% | $390.4M +17.9% | $331.1M +12.9% | $293.2M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $1.7B -1.5% | $1.7B -25.0% | $2.3B +131.2% | $997.1M +228.0% | $304.0M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $2.6B +1.8% | $2.6B +3.8% | $2.5B +37.1% | $1.8B +14.9% | $1.6B | $374.2M | $1.2B | $631.8M |
| EBITDA | $7.2B -4.4% | $7.5B +14.7% | $6.6B +13.3% | $5.8B +12.5% | $5.2B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 81.9% -9.9pp | 91.8% +10.0pp | 81.9% -15.2pp | 97.0% -11.2pp | 108.2% | 5.6% | 46.3% | 42.0% |
| Operating Income | $3.5B -19.9% | $4.4B +19.1% | $3.7B +6.9% | $3.5B +8.1% | $3.2B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 40.2% -13.6pp | 53.8% +7.6pp | 46.2% -11.8pp | 58.0% -9.3pp | 67.4% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 +100.0% | -$26.6M -17.8% | -$22.6M | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $1.0B +19.7% | $837.3M +35.3% | $618.7M +100.2% | $309.0M +16.1% | $266.2M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $233.2M +177.5% | -$301.0M -23.6% | -$243.6M -209.1% | $223.3M +92.7% | $115.9M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $3.8B -8.4% | $4.1B +18.8% | $3.5B -6.1% | $3.7B +11.1% | $3.3B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 42.9% -7.3pp | 50.2% +7.0pp | 43.2% -18.6pp | 61.8% -8.0pp | 69.8% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $204.0M +22.2% | $166.9M -20.9% | $211.0M +55.8% | $135.4M -22.3% | $174.3M | $1.3B | -$1.6B | $745.2M |
| Net Income | $3.4B -8.6% | $3.7B +22.0% | $3.1B -9.1% | $3.4B +14.5% | $2.9B | $4.9B | $4.8B | $4.7B |
| Net Margin | 38.8% -6.7pp | 45.5% +7.4pp | 38.1% -18.2pp | 56.3% -5.4pp | 61.8% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $4 -11.4% | $4 +22.1% | $3 -20.5% | $4 +7.5% | $4 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $4 -11.7% | $4 +21.9% | $3 -20.3% | $4 +7.6% | $4 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $938.4M +1.3% | $926.2M -2.3% | $947.7M +17.2% | $808.9M +6.4% | $760.3M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $958.0M +0.5% | $953.6M +0.2% | $951.8M +14.0% | $834.8M +6.3% | $785.7M | $1.2B | $924.4M | $678.0M |
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How much revenue does PLD generate?
Prologis, Inc. (PLD) reported $8.79B of revenue in fiscal 2025.
Is PLD profitable?
Prologis, Inc. (PLD) reported $3.41B of net income, with a net margin of 38.8%.
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