Prologis income statement
In fiscal 2025, Prologis reported revenue of $8.79bn, up 7.2% on the year before, operating income of $4.36bn (a 49.6% margin) and net income of $3.33bn, or $3.56 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,533 | 2,618 | 2,804 | 3,331 | 4,439 | 4,759 | 5,974 | 8,023 | 8,202 | 8,790 | 9,363 |
| General and administrative | 222 | 231 | 239 | 267 | 275 | 293 | 331 | 390 | 419 | 469 | 521 |
| Operating income | 668 | 1,954 | 1,688 | 1,850 | 2,119 | 3,207 | 3,468 | 3,708 | 4,416 | 4,358 | 5,134 |
| Interest expense | 303 | 274 | 229 | 240 | 315 | 266 | 309 | 641 | 864 | 1,002 | 1,078 |
| Income before tax | 1,347 | 1,816 | 1,886 | 1,776 | 1,747 | 3,323 | 3,691 | 3,464 | 4,115 | 3,769 | 4,868 |
| Income tax | 55 | 55 | 63 | 75 | 130 | 174 | 135 | 211 | 167 | 204 | 337 |
| Net income | 1,210 | 1,652 | 1,649 | 1,573 | 1,482 | 2,940 | 3,365 | 3,059 | 3,732 | 3,328 | 4,259 |
| Diluted EPS | $2.27 | $3.06 | $2.87 | $2.46 | $2.01 | $3.94 | $4.25 | $3.29 | $4.01 | $3.56 | $4.43 |
| Diluted shares (average) | 547m | 552m | 590m | 655m | 754m | 765m | 812m | 952m | 954m | 957m | 961m |
| EBITDA | 1,599 | 2,833 | 2,635 | 2,990 | 3,681 | 4,785 | 5,280 | 6,193 | 6,996 | 6,984 | 7,934 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,201 | 2,140 | 2,184 | 2,214 | 2,253 | 2,298 | 2,425 | 2,388 |
| General and administrative | 103 | 115 | 107 | 111 | 137 | 127 | 130 | 128 |
| Operating income | 1,421 | 878 | 913 | 940 | 1,626 | 1,211 | 1,251 | 1,045 |
| Interest expense | 232 | 232 | 252 | 258 | 260 | 254 | 276 | 287 |
| Income before tax | 1,429 | 683 | 646 | 876 | 1,565 | 1,093 | 1,232 | 978 |
| Income tax | 87 | 43 | 23 | 55 | 83 | 48 | 108 | 98 |
| Net income | 1,277 | 593 | 571 | 764 | 1,398 | 982 | 1,062 | 817 |
| Diluted EPS | $1.37 | $0.63 | $0.61 | $0.82 | $1.49 | $1.05 | $1.13 | $0.86 |
| EBITDA | 2,078 | 1,530 | 1,570 | 1,588 | 2,295 | 1,943 | 1,941 | 1,755 |
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