On 12 Nov 2026 our base value for Prologis is $127.66 a share, 0.7% below its $128.55 close; 0 of 1 valuation methods put it above the price.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Exit multiple (P/E) | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Sum of the parts | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to sales | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Tangible book | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to FFO (REITs) | $127.66 | -0.7% | funds from operations $6.30 a share (FY2025) at its own 5-year median of 20.3× (today 20.4×) |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
| Fiscal year | Net income | Depreciation | FFO | Shares | FFO per share | Year-end close | P/FFO |
|---|---|---|---|---|---|---|---|
| 2021 | $3.15bn | $1.58bn | $4.73bn | 785.71m | $6.02 | $168.36 | 28.0× |
| 2022 | $3.56bn | $1.81bn | $5.37bn | 834.84m | $6.43 | $112.73 | 17.5× |
| 2023 | $3.06bn | $2.48bn | $5.54bn | 951.79m | $5.82 | $133.30 | 22.9× |
| 2024 | $3.95bn | $2.58bn | $6.53bn | 953.59m | $6.85 | $105.70 | 15.4× |
| 2025 | $3.41bn | $2.63bn | $6.04bn | 958.02m | $6.30 | $127.66 | 20.3× |
| Median P/FFO | 20.3× |
| Latest FFO per share (FY2025) | $6.30 |
| Value per share = median × latest FFO per share | $127.66 |
For a REIT the base value is the price-to-FFO value: $127.66 a share.
Bear $110.47 · Base $127.66 · Bull $144.20 (the REIT's own lower and upper quartile price-to-FFO)
One-year price simulation: a 66% chance the price is higher than today's $128.55 in a year, from 18.87% volatility. The simulation assumes the price drifts up at our discount rate of 9.86% a year.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $128.91 | $127.66 |
| 9 Oct 2026 | $129.49 | $127.66 |
| 16 Oct 2026 | $125.75 | $127.66 |
| 23 Oct 2026 | $126.45 | $127.66 |
| 30 Oct 2026 | $127.98 | $127.66 |
| 6 Nov 2026 | $126.96 | $127.66 |
| 12 Nov 2026 | $128.55 | $127.66 |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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