PLD among the 30 companies we cover
PLD and 9 peers, year by year
The 9 Real estate companies closest to PLD in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.
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| Company | Year | Revenue | Sales growth | Gross margin | Operating margin | Net margin | FCF margin | Return on equity | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|
| PLD Prologis | FY2025 | $8.8B | +7.2% | - | 49.6% | 37.9% | - | 6.3% | 0.66 |
| EQIX Equinix | FY2025 | $9.2B | +5.4% | - | 20.0% | 14.6% | −4.3% | 9.5% | 0.14 |
| IRM Iron Mountain | FY2025 | $6.9B | +12.2% | - | 16.9% | 2.1% | −13.5% | n/m | n/m |
| SPG Simon Property Group | FY2025 | $6.4B | +6.7% | - | 49.9% | 72.7% | 50.3% | 88.8% | 5.46 |
| WY Weyerhaeuser | FY2025 | $6.9B | −3.1% | 14.8% | 10.6% | 4.7% | - | 3.4% | 0.59 |
| AMT American Tower | FY2025 | $10.6B | +20.8% | - | 45.5% | 23.8% | 35.5% | 69.3% | 10.19 |
| VTR Ventas | FY2025 | $5.8B | +18.5% | - | - | 4.3% | −22.0% | 2.0% | 1.04 |
| DLR Digital Realty | FY2025 | $6.1B | +10.0% | - | 10.8% | 21.4% | - | 5.7% | - |
| HST Host Hotels & Resorts | FY2025 | $6.1B | +7.6% | - | 14.0% | 12.5% | - | 11.7% | 0.19 |
| O Realty Income | FY2025 | $5.7B | +9.1% | - | - | 18.4% | - | 2.7% | 0.01 |
Revenue, FY2021 to FY2025
Revenue as reported in the 10-K.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | $4.8B | $6.0B | $8.0B | $8.2B | $8.8B |
| EQIX Dec | $6.6B | $7.3B | $8.2B | $8.7B | $9.2B |
| IRM Dec | $4.5B | $5.1B | $5.5B | $6.1B | $6.9B |
| SPG Dec | $5.1B | $5.3B | $5.7B | $6.0B | $6.4B |
| WY Dec | $10.2B | $10.2B | $7.7B | $7.1B | $6.9B |
| AMT Dec | $9.4B | $9.6B | $10.0B | $10.1B | $10.6B |
| VTR Dec | $3.8B | $4.1B | $4.5B | $4.9B | $5.8B |
| DLR Dec | $4.4B | $4.7B | $5.5B | $5.6B | $6.1B |
| HST Dec | $2.9B | $4.9B | $5.3B | $5.7B | $6.1B |
| O Dec | $2.1B | $3.3B | $4.1B | $5.3B | $5.7B |
| Peer median | $4.5B | $5.1B | $5.5B | $6.0B | $6.4B |
Sales growth, FY2021 to FY2025
Revenue against the fiscal year before.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | +7.2% | +25.5% | +34.3% | +2.2% | +7.2% |
| EQIX Dec | +10.6% | +9.5% | +12.7% | +6.8% | +5.4% |
| IRM Dec | +8.3% | +13.6% | +7.4% | +12.2% | +12.2% |
| SPG Dec | +11.1% | +3.4% | +6.9% | +5.4% | +6.7% |
| WY Dec | +35.4% | −0.2% | −24.6% | −7.2% | −3.1% |
| AMT Dec | +44.7% | +19.2% | −11.1% | +3.7% | +20.8% |
| VTR Dec | +0.9% | +7.9% | +8.9% | +9.5% | +18.5% |
| DLR Dec | +13.4% | +6.0% | +16.7% | +1.4% | +10.0% |
| HST Dec | +78.4% | +69.8% | +8.2% | +7.0% | +7.6% |
| O Dec | +26.3% | +60.7% | +22.0% | +29.2% | +9.1% |
| Peer median | +13.4% | +9.5% | +8.2% | +6.8% | +9.1% |
Gross margin, FY2021 to FY2025
Gross profit / revenue.Operating margin, FY2021 to FY2025
Operating income / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | 67.4% | 58.0% | 46.2% | 53.8% | 49.6% |
| EQIX Dec | 16.7% | 16.5% | 17.6% | 15.2% | 20.0% |
| IRM Dec | 19.0% | 20.6% | 16.8% | 16.4% | 16.9% |
| SPG Dec | 47.2% | 48.8% | 49.6% | 51.9% | 49.9% |
| WY Dec | 35.7% | 30.2% | 15.5% | 9.6% | 10.6% |
| AMT Dec | 33.5% | 28.4% | 31.2% | 44.6% | 45.5% |
| VTR Dec | - | - | - | - | - |
| DLR Dec | 15.7% | 12.6% | 9.6% | 8.5% | 10.8% |
| HST Dec | −8.7% | 15.8% | 15.6% | 15.4% | 14.0% |
| O Dec | - | - | - | - | - |
| Peer median | 19.0% | 20.6% | 16.8% | 15.4% | 16.9% |
Net margin, FY2021 to FY2025
Net income / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | 61.8% | 56.3% | 38.1% | 45.5% | 37.9% |
| EQIX Dec | 7.5% | 9.7% | 11.8% | 9.3% | 14.6% |
| IRM Dec | 10.0% | 10.9% | 3.4% | 2.9% | 2.1% |
| SPG Dec | 43.9% | 40.4% | 40.3% | 39.7% | 72.7% |
| WY Dec | 25.6% | 18.5% | 10.9% | 5.6% | 4.7% |
| AMT Dec | 27.4% | 18.3% | 14.8% | 22.3% | 23.8% |
| VTR Dec | 1.3% | −1.1% | −0.9% | 1.6% | 4.3% |
| DLR Dec | 38.6% | 8.0% | 17.3% | 10.8% | 21.4% |
| HST Dec | −0.4% | 12.9% | 13.9% | 12.3% | 12.5% |
| O Dec | 17.3% | 26.0% | 21.4% | 16.3% | 18.4% |
| Peer median | 17.3% | 12.9% | 13.9% | 10.8% | 14.6% |
Free cash flow, FY2021 to FY2025
Cash from operations minus capital spending.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | - | - | - | - | - |
| EQIX Dec | −$204.3M | $685.0M | $436.0M | $183.0M | −$400.0M |
| IRM Dec | $147.8M | $52.3M | −$225.7M | −$594.9M | −$931.6M |
| SPG Dec | $3.1B | $3.1B | $3.1B | $3.1B | $3.2B |
| WY Dec | - | - | - | - | - |
| AMT Dec | $3.4B | $1.8B | $2.9B | $3.7B | $3.8B |
| VTR Dec | −$775.9M | $219.5M | $470.4M | −$1.2B | −$1.3B |
| DLR Dec | - | - | - | - | - |
| HST Dec | - | - | - | - | - |
| O Dec | - | - | - | - | - |
| Peer median | $147.8M | $685.0M | $470.4M | $183.0M | −$400.0M |
FCF margin, FY2021 to FY2025
Free cash flow / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | - | - | - | - | - |
| EQIX Dec | −3.1% | 9.4% | 5.3% | 2.1% | −4.3% |
| IRM Dec | 3.3% | 1.0% | −4.1% | −9.7% | −13.5% |
| SPG Dec | 60.8% | 58.9% | 55.4% | 51.3% | 50.3% |
| WY Dec | - | - | - | - | - |
| AMT Dec | 36.8% | 18.9% | 29.2% | 36.5% | 35.5% |
| VTR Dec | −20.3% | 5.3% | 10.5% | −24.4% | −22.0% |
| DLR Dec | - | - | - | - | - |
| HST Dec | - | - | - | - | - |
| O Dec | - | - | - | - | - |
| Peer median | 3.3% | 9.4% | 10.5% | 2.1% | −4.3% |
Return on equity, FY2021 to FY2025
Net income / shareholders' equity at the year end.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | 8.8% | 6.3% | 5.8% | 6.9% | 6.3% |
| EQIX Dec | 4.6% | 6.1% | 7.8% | 6.0% | 9.5% |
| IRM Dec | 52.6% | 87.5% | 87.0% | n/m | n/m |
| SPG Dec | 66.8% | 68.1% | 75.4% | 80.5% | 88.8% |
| WY Dec | 24.2% | 17.5% | 8.2% | 4.1% | 3.4% |
| AMT Dec | 50.5% | 31.7% | 35.3% | 66.7% | 69.3% |
| VTR Dec | 0.5% | −0.5% | −0.4% | 0.8% | 2.0% |
| DLR Dec | 9.5% | 2.1% | 5.0% | 2.8% | 5.7% |
| HST Dec | −0.2% | 9.4% | 11.2% | 10.5% | 11.7% |
| O Dec | 1.4% | 3.0% | 2.6% | 2.2% | 2.7% |
| Peer median | 9.5% | 9.4% | 8.2% | 5.0% | 7.6% |
Debt / equity, FY2021 to FY2025
Total debt / shareholders' equity at the year end.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | 0.01 | 0.45 | 0.55 | 0.57 | 0.66 |
| EQIX Dec | 1.08 | 1.12 | 1.11 | 1.13 | 0.14 |
| IRM Dec | 10.83 | 16.60 | n/m | n/m | n/m |
| SPG Dec | 7.53 | 7.95 | 8.61 | 8.25 | 5.46 |
| WY Dec | 0.47 | 0.47 | 0.50 | 0.52 | 0.59 |
| AMT Dec | 8.56 | 6.98 | 9.24 | 10.79 | 10.19 |
| VTR Dec | 1.13 | 1.25 | 1.42 | 1.26 | 1.04 |
| DLR Dec | - | - | - | - | - |
| HST Dec | 0.07 | 0.11 | 0.11 | 0.14 | 0.19 |
| O Dec | 0.04 | 0.02 | 0.02 | 0.00 | 0.01 |
| Peer median | 1.11 | 1.19 | 1.11 | 1.13 | 0.59 |
EPS (diluted), FY2021 to FY2025
Diluted earnings per share, on today's share count after splits.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| PLD Dec | $3.94 | $4.25 | $3.29 | $4.01 | $3.56 |
| EQIX Dec | $5.53 | $7.67 | $10.31 | $8.50 | $13.76 |
| IRM Dec | $1.55 | $1.90 | $0.63 | $0.61 | $0.49 |
| SPG Dec | $6.84 | $6.52 | $6.98 | $7.26 | $14.17 |
| WY Dec | $3.47 | $2.53 | $1.15 | $0.54 | $0.45 |
| AMT Dec | $5.66 | $3.82 | $3.18 | $4.82 | $5.40 |
| VTR Dec | $0.13 | −$0.12 | −$0.10 | $0.19 | $0.54 |
| DLR Dec | $5.94 | $1.11 | $2.88 | $1.61 | $3.58 |
| HST Dec | −$0.02 | $0.88 | $1.04 | $0.99 | $1.10 |
| O Dec | $0.87 | $1.42 | $1.26 | $0.98 | $1.17 |
| Peer median | $3.47 | $1.90 | $1.26 | $0.99 | $1.17 |
Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out PLD and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →
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