Prologis (PLD) Operating Margin (2010 - 2025)

Prologis' Operating Margin history runs 16 years deep, the most recent figure standing at 72.2% for 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 was 72.2% for Q4 2025 at Prologis, up from 42.47% in the prior quarter.
• Across five years, Operating Margin topped out at 98.91% in Q1 2022 and bottomed at 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 slumped 28529 bps — and 2022, when it soared 5256 bps.
• Prologis' Operating Margin stood at 94.6% in 2021, then slumped by 51 bps to 46.44% in 2022, then slipped by 5 bps to 44.19% in 2023, then jumped by 46 bps to 64.58% in 2024, then advanced by 12 bps to 72.2% in 2025.
• Business Quant data shows PLD's Operating Margin at 72.2% in Q4 2025, 42.47% in Q3 2025, and 41.79% in Q2 2025.