Aureus
BGood

Prologis, Inc.(PLD)

B

Financial data as of Dec 31, 2025Declining · Real Estate

FCF Margin57.0%Free Cash Flow / Revenue
Cash Conversion150.5%Operating CF / Net Income
Free Cash Flow$5.0B
Revenue$8.8B
Net Cash-$34.5BNet debt position
Debt / FCF7.1xElevated debt burden
Current Ratio0.91Tight short-term liquidity
YoY FCF Growth-13.3%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-1High debt-to-FCF ratio (7.1x)
→
+0.5Healthy FCF margin with manageable debt (57.0%, 7.1x)
→
-1Current ratio below 1.0 (0.91)
→
+0.5Highly consistent quarterly FCF
→
FinalB

Analysis Summary

Strengths

  • Exceptional FCF margin (57.0%)
  • Excellent cash conversion (150%)
  • Highly consistent quarterly FCF
  • Strong FCF margin (57.0%) despite slight YoY dip

Concerns

  • Heavy debt position ($34.5B net debt, 7.1x FCF)
  • High debt-to-FCF ratio (7.1x)
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin57.0%
Net Margin37.9%
Operating CF Margin57.0%
CapEx Ratio0.0%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$34.5BNet debt position
Debt / FCF7.1xElevated debt burden
Current Ratio0.91Tight liquidity
Debt / Equity0.67Low leverage

Quarterly FCF Trend

-13.3% YoYDeclining (-13.3%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NamePrologis, Inc.
SectorReal Estate
Free Cash Flow$5.0B
Revenue$8.8B
Net Income$3.3B
Operating Cash Flow$5.0B
Capital Expenditure$0
FCF Margin57.0%
Cash Conversion Rate150.5%
Net Margin37.9%
Total Debt$35.7B
Total Cash$1.1B
Net Cash-$34.5B
Current Ratio0.91
Debt / Equity0.67
Debt / FCF7.1x
YoY FCF Growth-13.3%
Positive Quarters5 of 5
Trend DirectionDeclining
Report DateDec 31, 2025
GradeB
Data SourceYahoo Finance

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