Prologis (PLD) Operating Margin (2010 - 2025)
Prologis' (PLD) quarterly Operating Margin came in at 72.2% in Q4 2025, up 762.0% YoY from 8.38% in Q4 2024, and up 70.0% on a QoQ basis from 42.47% in Q3 2025.
Prologis (PLD) Operating Margin (2010 - 2025) Analysis & Trends
Prologis (PLD) has 16 years of Operating Margin data on file, last reported at 72.2% in Q4 2025.
- Quarterly Operating Margin rose 762.0% year-over-year to 72.2% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 49.58% (down 427.0% YoY) and the FY2025 annual result came in at 49.58%, down 427.0% from the prior year.
- Operating Margin advanced to 72.2% in Q4 2025, from 42.47% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 98.91% in Q1 2022 to a low of 32.74% in Q1 2023.
- A 5-year average of 54.93% and a median of 48.7% in 2022 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2021 — Operating Margin tumbled 28529 bps — and 2022, when it soared 5256 bps.
- Tracing PLD's Operating Margin over 5 years: stood at 94.6% in 2021, then plunged by 51 bps to 46.44% in 2022, then retreated by 5 bps to 44.19% in 2023, then surged by 46 bps to 64.58% in 2024, then rose by 12 bps to 72.2% in 2025.
- The last three Operating Margin figures came in at 72.2% (Q4 2025), 42.47% (Q3 2025), and 41.79% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Prologis | 131.18 Bn | 131.18 Bn | 2.41 Bn | 51.59% |
| 2 | Public Storage | 56.71 Bn | 56.45 Bn | 1.20 Bn | 37.85% |
| 3 | Extra Space Storage | 31.13 Bn | 31.13 Bn | 642.43 Mn | 44.86% |
| 4 | Eastgroup Properties | 10.82 Bn | 10.82 Bn | 193.10 Mn | 40.64% |
| 5 | Lineage | 9.47 Bn | 9.41 Bn | 425.00 Mn | 3.97% |
| 6 | CubeSmart | 9.34 Bn | 9.34 Bn | 190.47 Mn | 7.46% |
| 7 | Rexford Industrial Realty | 8.31 Bn | 8.31 Bn | - | - |
| 8 | Terreno Realty | 7.29 Bn | 7.29 Bn | - | - |
| 9 | STAG Industrial | 6.97 Bn | 6.97 Bn | - | - |
| 10 | Americold Realty Trust | 4.33 Bn | 4.29 Bn | 212.69 Mn | -43.42% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 72.20% |
| Sep 30, 2025 | 42.47% |
| Jun 30, 2025 | 41.79% |
| Mar 31, 2025 | 41.05% |
| Dec 31, 2024 | 64.58% |
| Sep 30, 2024 | 61.43% |
| Jun 30, 2024 | 50.96% |
| Mar 31, 2024 | 36.82% |
| Dec 31, 2023 | 44.19% |
| Sep 30, 2023 | 46.07% |
| Jun 30, 2023 | 57.60% |
| Mar 31, 2023 | 32.74% |
| Dec 31, 2022 | 46.44% |
| Sep 30, 2022 | 52.26% |
| Jun 30, 2022 | 42.59% |
| Mar 31, 2022 | 98.91% |
| Dec 31, 2021 | 94.60% |
| Sep 30, 2021 | 64.72% |
| Jun 30, 2021 | 60.90% |
| Mar 31, 2021 | 46.35% |