Prologis, Inc.

NYSE:PLD Stock Report

Market Cap: US$99.6b

Prologis Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 PLD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PLD ($105.7) is trading below our estimate of fair value ($174.26)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PLD. This is calculated by dividing PLD's market cap by their current earnings.
What is PLD's PE Ratio?
PE Ratio31.8x
EarningsUS$3.08b
Market CapUS$99.57b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PLD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average30.9x
REXR Rexford Industrial Realty
32.4x11.3%US$8.9b
EGP EastGroup Properties
34.1x9.9%US$7.9b
FR First Industrial Realty Trust
21.5x-1.8%US$6.8b
TRNO Terreno Realty
35.7x8.9%US$5.9b
PLD Prologis
31.8x5.1%US$99.6b

Price-To-Earnings vs Peers: PLD is expensive based on its Price-To-Earnings Ratio (31.8x) compared to the peer average (30.9x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PLD 31.8xIndustry Avg. 18.7xNo. of Companies10PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PLD is expensive based on its Price-To-Earnings Ratio (31.8x) compared to the Global Industrial REITs industry average (18.7x).

Price to Earnings Ratio vs Fair Ratio

What is PLD'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.

PLD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio31.8x
Fair PE Ratio40.9x

Price-To-Earnings vs Fair Ratio: PLD is good value based on its Price-To-Earnings Ratio (31.8x) compared to the estimated Fair Price-To-Earnings Ratio (40.9x).

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 PLD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$105.70
US$130.33
+23.3%
9.0%US$154.00US$104.00n/a21
Dec ’25US$116.78
US$132.15
+13.2%
7.6%US$154.00US$119.00n/a20
Nov ’25US$113.40
US$133.85
+18.0%
6.8%US$154.00US$120.00n/a20
Oct ’25US$124.61
US$135.00
+8.3%
6.9%US$154.00US$120.00n/a21
Sep ’25US$127.82
US$134.81
+5.5%
7.1%US$154.00US$120.00n/a21
Aug ’25US$127.72
US$135.55
+6.1%
8.6%US$156.00US$117.00n/a20
Jul ’25US$111.95
US$130.76
+16.8%
8.6%US$154.00US$112.00n/a21
Jun ’25US$110.49
US$130.95
+18.5%
8.4%US$154.00US$112.00n/a21
May ’25US$101.88
US$133.76
+31.3%
8.7%US$154.00US$112.00n/a21
Apr ’25US$127.92
US$144.10
+12.6%
5.3%US$163.00US$128.00n/a21
Mar ’25US$134.60
US$144.41
+7.3%
5.9%US$163.00US$125.00n/a22
Feb ’25US$130.44
US$142.73
+9.4%
6.6%US$163.00US$125.00n/a22
Jan ’25US$133.30
US$137.09
+2.8%
8.3%US$157.00US$119.00US$105.7022
Dec ’24US$118.26
US$133.36
+12.8%
7.3%US$154.00US$119.00US$116.7822
Nov ’24US$101.60
US$134.14
+32.0%
7.7%US$154.00US$119.00US$113.4022
Oct ’24US$112.21
US$144.64
+28.9%
9.5%US$193.00US$124.00US$124.6122
Sep ’24US$124.59
US$141.95
+13.9%
6.4%US$162.00US$124.00US$127.8222
Aug ’24US$124.18
US$141.73
+14.1%
6.4%US$162.00US$124.00US$127.7222
Jul ’24US$122.63
US$141.55
+15.4%
7.1%US$170.00US$124.00US$111.9522
Jun ’24US$122.64
US$144.17
+17.6%
9.9%US$193.00US$124.00US$110.4923
May ’24US$122.40
US$143.58
+17.3%
9.8%US$193.00US$124.00US$101.8824
Apr ’24US$124.77
US$141.43
+13.4%
9.6%US$193.00US$124.00US$127.9223
Mar ’24US$121.13
US$141.18
+16.6%
10.1%US$193.00US$124.00US$134.6022
Feb ’24US$130.90
US$141.05
+7.8%
10.3%US$193.00US$124.00US$130.4421
Jan ’24US$112.73
US$137.38
+21.9%
12.2%US$193.00US$117.00US$133.3021

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 01:33
End of Day Share Price 2024/12/31 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Prologis, Inc. is covered by 49 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nicholas ThillmanBaird
Brendan LynchBarclays
Ross SmotrichBarclays