Prologis, Inc.

DB:POJN Stock Report

Market Cap: €105.1b

Prologis Valuation

Is POJN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of POJN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: POJN (€110.98) is trading below our estimate of fair value (€166.76)

Significantly Below Fair Value: POJN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for POJN?

Key metric: As POJN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for POJN. This is calculated by dividing POJN's market cap by their current earnings.
What is POJN's PE Ratio?
PE Ratio35.4x
EarningsUS$3.08b
Market CapUS$110.96b

Price to Earnings Ratio vs Peers

How does POJN's PE Ratio compare to its peers?

The above table shows the PE ratio for POJN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average44.4x
REXR Rexford Industrial Realty
35.6x12.4%US$9.8b
EGP EastGroup Properties
36.9x10.0%US$8.6b
A17U CapitaLand Ascendas REIT
82x23.0%S$11.5b
FR First Industrial Realty Trust
23.2x-6.1%US$7.4b
POJN Prologis
35.4x4.1%€111.0b

Price-To-Earnings vs Peers: POJN is good value based on its Price-To-Earnings Ratio (35.4x) compared to the peer average (44.6x).

Price to Earnings Ratio vs Industry

How does POJN's PE Ratio compare vs other companies in the Global Industrial REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
POJN 35.4xIndustry Avg. 19.5xNo. of Companies11PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: POJN is expensive based on its Price-To-Earnings Ratio (35.4x) compared to the Global Industrial REITs industry average (19.5x).

Price to Earnings Ratio vs Fair Ratio

What is POJN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

POJN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate POJN's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst POJN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€110.98
€125.08
+12.7%
7.6%€145.76€112.63n/a20
Nov ’25€103.64
€124.00
+19.6%
6.8%€142.67€111.17n/a20
Oct ’25€112.16
€120.78
+7.7%
6.9%€137.78€107.36n/a21
Sep ’25€115.24
€121.29
+5.2%
7.1%€138.55€107.96n/a21
Aug ’25€117.64
€125.38
+6.6%
8.6%€144.30€108.23n/a20
Jul ’25€104.20
€121.49
+16.6%
8.6%€143.08€104.06n/a21
Jun ’25€101.06
€120.71
+19.4%
8.4%€141.96€103.24n/a21
May ’25€95.55
€125.31
+31.1%
8.7%€144.27€104.92n/a21
Apr ’25€119.50
€133.04
+11.3%
5.3%€150.50€118.18n/a21
Mar ’25€123.70
€134.08
+8.4%
5.9%€151.35€116.06n/a22
Feb ’25€119.30
€131.68
+10.4%
6.6%€150.38€115.33n/a22
Jan ’25€121.00
€124.11
+2.6%
8.3%€142.13€107.73n/a22
Dec ’24€108.60
€121.71
+12.1%
7.3%€140.54€108.60n/a22
Nov ’24€95.20
€127.05
+33.5%
7.7%€145.87€112.72€103.6422
Oct ’24€106.30
€135.37
+27.3%
9.5%€180.63€116.05€112.1622
Sep ’24€115.50
€129.33
+12.0%
6.4%€147.60€112.98€115.2422
Aug ’24€112.80
€128.56
+14.0%
6.4%€146.95€112.48€117.6422
Jul ’24€111.80
€129.71
+16.0%
7.1%€155.79€113.63€104.2022
Jun ’24€113.50
€134.90
+18.9%
9.9%€180.59€116.03€101.0623
May ’24€112.30
€130.30
+16.0%
9.8%€175.15€112.53€95.5524
Apr ’24€113.26
€130.47
+15.2%
9.6%€178.04€114.39€119.5023
Mar ’24€113.36
€130.78
+15.4%
10.1%€178.78€114.86€123.7022
Feb ’24€118.82
€129.75
+9.2%
10.3%€177.54€114.07€119.3021
Jan ’24€105.72
€129.61
+22.6%
12.2%€182.08€110.38€121.0021
Dec ’23€110.18
€131.39
+19.2%
12.8%€187.31€113.55€108.6021
Nov ’23€109.78
€136.67
+24.5%
13.3%€195.39€118.45€95.2021

Analyst Forecast: Target price is less than 20% higher than the current share price.

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