Prologis, Inc. (PLDGP) stock analysis

P/E below its 5-year median

Prologis's P/E of 28.5 is below its own 5-year median of 33.6.

P/E above the industry

Prologis's P/E of 28.5 is above the Miscellaneous Investing median of 25.0.

EV/EBITDA below its 5-year median

Prologis's EV/EBITDA of 15.7 is below its 5-year median of 18.2.

P/B above the industry

Prologis's price-to-book of 2.22 is above the Miscellaneous Investing median of 1.20.

Trading above fair value

The share price of $127.98 is above our fair value estimate of $112.96.

Margin of safety under 20%

The price is 13.3% above fair value, so there is no margin of safety.

Revenue growing 10%+ a year

Revenue grew 13.7% a year over the last three fiscal years.

EPS growing under 10% a year

Diluted EPS grew -5.7% a year over the last three fiscal years.

Earnings growth accelerating

Net income grew 22.0% over the last twelve months, against a 5-year average of 17.6% a year.

Growing faster than the industry

Revenue grew 7.3% over the last twelve months; the Miscellaneous Investing median is 4.4%.

Guidance raised

Prologis raised its 2026 Guidance Contributions - OWNED AND MANAGED outlook on Jul 16, 2026.

Gross margin trend

This company does not report gross profit.

Return on equity under 15%

Return on equity was 7.9% over the last twelve months and averaged 7.1% over five years; we look for 15% on both.

Return on capital under 10%

Return on invested capital was 9.1%, below the 10% that usually covers the cost of capital.

Return on equity above the industry

Prologis's return on equity of 7.9% is above the Miscellaneous Investing median of 3.4%.

Earnings grew over 5 years

Net income grew 17.6% a year on average over the last five fiscal years.

Net margin below its 5-year average

Net margin was 45.8% over the last twelve months, against a 5-year average of 47.9%.

Net margin above the industry

Prologis's net margin of 45.8% is above the Miscellaneous Investing median of 11.4%.

Debt level

Needs debt and equity figures.

Debt trend

Needs a balance sheet from five years ago with positive equity.

Debt coverage

Needs operating cash flow.

Interest not well covered

Operating income covers interest expense 4.8 times; we look for at least 5.

Short-term liquidity

The balance sheet is not split into current and non-current items.

Bankruptcy risk in the grey zone

The Altman Z-score is 1.91; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

Prologis paid dividends worth 3.3% of the share price over the last twelve months.

Yield below Treasuries

The 3.3% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 4.0% or more; Prologis yields 3.3%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 10 fiscal years.

Not covered by earnings

Dividends take 92.3% of net income, leaving little room.

Cash-flow cover

Needs dividends paid and free cash flow.