Prologis Inc (PLD) Fair Value & Analysis
Real Estate · US · Market cap $136B · ISIN US74340W1036
What is Prologis Inc really worth?
Prologis Inc
PLD · US
A solid business, but trading 126% above our fair value of $61.28.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 16 valuation models · updated 4 days ago
Share price −0.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($76.60). The favourable scenario is already priced in.
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range $86.12 – $151.88 · fair‑value band $44.64 – $76.60 · the $138.35 price screens above the $61.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Prologis Inc (PLD) currently trades at $138.35, while our model-based Fair Value estimate is $61.28, implying the stock looks roughly 125.8% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of $95.31 per share, and 0 of the 16 models we run sit above the $138.35 price. Bear case: the Asset-Based group reads lowest at $38.23, and 16 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Prologis Inc generated revenue of $9.4B at a net margin of 39.7%. Revenue grew 8.3% year over year. It earns a return on equity of 6.8%. Net debt stands at $33.9B. Fundamentals as of Sep 1, 2026
Our scenario range runs from $44.64 (bear case) to $76.60 (bull case); at $138.35, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −43% fair-value upside, at −56%, PLD screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: DCF Models ($95.31) versus Asset-Based ($38.23). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Prologis, Inc. is a self-administered and self-managed REIT and is the sole general partner of Prologis, L.P. through which it holds substantially all of its assets. We operate Prologis, Inc. and Prologis, L.P. as one enterprise and, therefore, our discussion and analysis refer to Prologis, Inc. and its consolidated subsidiaries, including Prologis, L.P.
Full company description
Prologis, Inc. is a self-administered and self-managed REIT and is the sole general partner of Prologis, L.P. through which it holds substantially all of its assets. We operate Prologis, Inc. and Prologis, L.P. as one enterprise and, therefore, our discussion and analysis refer to Prologis, Inc. and its consolidated subsidiaries, including Prologis, L.P. We invest in real estate through wholly owned subsidiaries and other entities through which we co-invest with partners and investors (co-investment ventures). We have a significant ownership interest in the co-investment ventures, which are either consolidated or unconsolidated based on our level of control of the entity. Prologis, Inc. began operating as a fully integrated real estate company in 1997 and elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (Internal Revenue Code or IRC). We believe the current organization and method of operation enable Prologis, Inc. to maintain its status as a REIT. Prologis, L.P. was also formed in 1997. We operate, manage and measure the operating performance of our properties on an owned and managed (O&M) basis. Our O&M portfolio includes our consolidated properties as well as properties owned by our unconsolidated co investment ventures, which we manage. We make operating decisions based on our total O&M portfolio as we manage the properties without regard to their ownership. Prologis, Inc. was incorporated in 1983 and is based in San Francisco, United States.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Prologis Inc reported revenue of $8.8B in FY2025 versus $4.8B in FY2021, a compound +16.6%/yr. Reported net income was $3.4B in FY2025, compounding +3.8%/yr from FY2021.
of which total revenue +16.2 % · buybacks/dilution −6.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
PLD screens 126% overvalued. Compare with Public Storage, a member of the S&P 500, →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Is Prologis (PLD) Above Fair Value After A 28% Gain?
- Storage and Warehouse Leasing Market 2026-2030 Report Now Available. Forecasts $122.72B in Market Growth Through 2030, Profiling Prologis, C
- The Zacks Analyst Blog Highlights The Goldman Sachs, TotalEnergies, Prologis, Gencor and Ohio Valley
- Dimensional Fund Advisors Ltd. : Form 8.3 - PROLOGIS INC - Ordinary Shares
Peer Group
REIT - Industrial · 56 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Industrial median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Public Storage, a member of the S&P 500, PSA | $311.20 | $162.43 | −48% |
| Extra Space Storage Inc EXR | $140.12 | $78.38 | −44% |
| EastGroup Properties, Inc EGP | $198.47 | $81.41 | −59% |
| Lineage, Inc LINE | $39.32 | $47.91 | +22% |
| CapitaLand Ascendas REIT (CLAR) A17U | 2.44 SGD | 2.00 SGD | −18% |
| CubeSmart CUBE | $39.73 | $25.06 | −37% |
| First Industrial Realty Trust, Inc FR | $62.39 | $20.72 | −67% |
| Rexford Industrial Realty, Inc REXR | $36.39 | $20.69 | −43% |
| STAG Industrial, Inc STAG | $37.18 | $21.64 | −42% |
| Terreno Realty Corporation TRNO | $66.59 | $36.59 | −45% |
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