Prologis (PLD) Operating Expenses (2009 - 2025)
Prologis' (PLD) quarterly Operating Expenses came in at -$6.3 billion in Q4 2025, down 5.65% YoY from -$6.6 billion in Q4 2024, and down 1211.95% on a QoQ basis from $562.6 million in Q3 2025.
Prologis (PLD) Operating Expenses (2009 - 2025) Analysis & Trends
Prologis (PLD) has 17 years of Operating Expenses data on file, last reported at -$6.3 billion in Q4 2025.
- Quarterly Operating Expenses fell 5.65% year-over-year to -$6.3 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$3.0 billion (down 6.58% YoY) and the FY2025 annual result came in at -$2.3 billion, down 8.38% from the prior year.
- Operating Expenses fell to -$6.3 billion in Q4 2025, from $562.6 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.3 billion in Q2 2025 to a low of -$6.3 billion in Q4 2025.
- A 5-year average of -$318.1 million and a median of $807.4 million in 2021 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses tumbled 611.78% — and 2023, when it soared 51.45%.
- Tracing PLD's Operating Expenses over 5 years: stood at $800.0 million in 2021, then plunged by 611.78% to -$4.1 billion in 2022, then slumped by 40.63% to -$5.8 billion in 2023, then declined by 2.85% to -$5.9 billion in 2024, then decreased by 5.65% to -$6.3 billion in 2025.
- The last three Operating Expenses figures came in at -$6.3 billion (Q4 2025), $562.6 million (Q3 2025), and $1.3 billion (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Prologis | 131.18 Bn | 131.18 Bn | 2.41 Bn | 1.47 Bn |
| 2 | Public Storage | 56.71 Bn | 56.45 Bn | 1.20 Bn | 766.20 Mn |
| 3 | Extra Space Storage | 31.13 Bn | 31.13 Bn | 642.43 Mn | 481.97 Mn |
| 4 | Eastgroup Properties | 10.82 Bn | 10.82 Bn | 193.10 Mn | 114.53 Mn |
| 5 | Lineage | 9.47 Bn | 9.41 Bn | 425.00 Mn | 1.31 Bn |
| 6 | CubeSmart | 9.34 Bn | 9.34 Bn | 190.47 Mn | 169.10 Mn |
| 7 | Rexford Industrial Realty | 8.31 Bn | 8.31 Bn | - | 143.39 Mn |
| 8 | Terreno Realty | 7.29 Bn | 7.29 Bn | - | 72.62 Mn |
| 9 | STAG Industrial | 6.97 Bn | 6.97 Bn | - | 141.27 Mn |
| 10 | Americold Realty Trust | 4.33 Bn | 4.29 Bn | 212.69 Mn | 950.72 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -6.26 Bn |
| Sep 30, 2025 | 562.63 Mn |
| Jun 30, 2025 | 1.33 Bn |
| Mar 31, 2025 | 1.33 Bn |
| Dec 31, 2024 | -5.92 Bn |
| Sep 30, 2024 | 504.45 Mn |
| Jun 30, 2024 | 1.27 Bn |
| Mar 31, 2024 | 1.29 Bn |
| Dec 31, 2023 | -5.76 Bn |
| Sep 30, 2023 | 1.25 Bn |
| Jun 30, 2023 | 1.25 Bn |
| Mar 31, 2023 | 1.19 Bn |
| Dec 31, 2022 | -4.09 Bn |
| Sep 30, 2022 | 911.62 Mn |
| Jun 30, 2022 | 824.57 Mn |
| Mar 31, 2022 | 808.37 Mn |
| Dec 31, 2021 | 799.96 Mn |
| Sep 30, 2021 | 771.19 Mn |
| Jun 30, 2021 | 764.50 Mn |
| Mar 31, 2021 | 806.39 Mn |