Prologis, Inc.

PLDNYSEReal Estate● Active

$144.54

+$0.75(+0.52%)

Market Cap$134.8B

P/E Ratio—

52W High$147.93

52W Low$103.41

Avg Volume3.5M

Open$142.57

Beta1.33

Free Cash Flow Financials Revenue

Prologis, Inc. (PLD) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

PLD · free cash flow · updated Jun 8, 2026

Core FCF metrics

PLD · FCF · TTM · margin & CAGR

Free cash flow was $5.01B for FY2025 (fiscal year ending 2025-12-31), up 2.0% year-over-year The FCF margin was 57.0%. Five-year CAGR stands at +24.3%.

FY2025 Free Cash Flow$5.01B▲ +2.0% YoY

Trailing 12M (TTM)$4.99Btrailing 4 quarters sum

FCF Margin57.0%$5.01B ÷ revenue

3-Year CAGR+11.9%FY2022 → FY2025

5-Year CAGR+24.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

PLD · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$5.01B(0M)$5.01B▲ +2.0%57.0%

FY2024$4.91B(0M)$4.91B▼ 8.6%59.9%

FY2023$5.37B(0M)$5.37B▲ +50.3%67.0%

FY2022$4.13B(551M)$3.58B▲ +43.2%59.9%

FY2021$3.00B(499M)$2.50B▲ +47.9%52.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

PLD · P/FCF · FCF yield · FCF per share

Prologis, Inc. (PLD) trades at a FCF yield of 3.70% and a price-to-free-cash-flow ratio of 27.2x. FCF per share stands at $5.31, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.70%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$5.31

TTM FCF ÷ Shares Outstanding

Price / FCF

x27.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x33.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

PLD · cash flow statement · operating / investing / financing

For FY2025, Prologis, Inc. generated $5.01B in operating cash flow and spent 0M in capital expenditures, yielding $5.01B in free cash flow.

Operating Activities

+$5.01B

Cash from core business operations

2025-12-31

Investing Activities

−$3.63B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.56B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($5.01B) − |CapEx| (0M) = FCF ($5.01B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

PLD vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Prologis, Inc.YOU

PLD

$5.01B+2.0%57.0%

100%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Digital Realty Trust, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Prologis, Inc. (PLD) reported free cash flow of $5.01B for FY2025 (fiscal year ending 2025-12-31), up 2.0% year-over-year. The FCF margin was 57.0%.

Based on available data, Prologis, Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $5.37B in FY2023. The 5-year CAGR stands at +24.3%.

Prologis, Inc.'s FCF yield is 3.70% and price-to-FCF ratio is 27.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

PLD free cash flow · 8 questions

Prologis, Inc. free cash flow was $5.01B for FY2025, up 2.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $4.99B.

PLD free cash flowPLD FCFPLD FCF 2025PLD free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Prologis, Inc. · Prologis, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026