PLDPrologis

Real estate · REIT · NYSE, OTC

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. 10-K, Item 1

Headquarters: San Francisco, CA
CEO: Hamid Moghadam
Next results: around Jan 20, 2027

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RevenueFY2016–25 $8.8B+7.2% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $3.3B−10.8% FY2024: $3.7B 10-K FY2025 · XBRL Operating marginFY2016–25 49.6%−4.3 pts 26.4% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 13, 2026 against Feb 14, 2025

Area	What changed	Source
Risk factors	3 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Receivables growing faster than revenue	Receivables +47.6% vs revenue +7.2% (+40.4 pts)	10-K · XBRL
Accounting checks	9 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	4 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 13, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-14. Quoted as filed.

We have acquired properties and will continue to acquire properties through the direct acquisition of real estate, the acquisition of entities that own real estate or through additional investments in co-investment ventures that acquire properties. The acquisition of
10-K, Item 1A

All 3 new paragraphs →

Accounting checks

latest 10-K

9 of 10 clear 1 worth a look. Checks, not verdicts.

!
Receivables growing faster than revenueReceivables +47.6% vs revenue +7.2% (+40.4 pts)
✓
Cash from operations $5.0B vs net income $3.3B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: KPMG LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
The same matters as last year: Assessment of the Company’s evaluation of the expected holding period for operating properties
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 30, 2026Offering At-the-market program: up to $5.0B of common stock 424B5 · aggregate offering price of up to $5,000,000,000, to be made from time to time under this prospectus supplement and the accompanying prospectus through the managers, as our sales agents or the forward sellers, or directly to the managers, as principals for their own accounts.
Oct 30, 20268-K Other events 8-K item 8.01
Oct 28, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 15, 20268-K Quarterly results, Regulation FD disclosure 8-K items 2.02, 7.01

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