Prologis Inc.
Find Ratings ReportsPROLOGIS INC's gross profit margin for the fourth quarter of its fiscal year 2023 is essentially unchanged when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the subsector, the net income growth has not.
During the same period, stockholders' equity ("net worth") has remained unchanged from the same quarter last year.
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Income Statement | Q4 FY23 | Q4 FY22 |
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Net Sales ($mil) | 2039.23 | 1824.98 |
EBITDA ($mil) | 0.0 | 0.0 |
EBIT ($mil) | 793.82 | 676.24 |
Net Income ($mil) | 630.94 | 587.21 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 530.39 | 278.48 |
Total Assets ($mil) | 93020.84 | 87897.45 |
Total Debt ($mil) | 29598.06 | 24514.77 |
Equity ($mil) | 53181.72 | 53237.28 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 43.75 | 41.74 |
EBITDA Margin | 0.0 | 0.0 |
Operating Margin | 38.93 | 37.05 |
Sales Turnover | 0.09 | 0.07 |
Return on Assets | 3.28 | 3.82 |
Return on Equity | 5.74 | 6.31 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.36 | 0.32 |
Interest Expense | 212.23 | 139.75 |
Interest Coverage | 3.74 | 4.84 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 924.39 | 923.14 |
Div / share | 0.87 | 0.79 |
EPS | 0.68 | 0.63 |
Book value / share | 57.53 | 57.67 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 3132554.0 | 3698481.0 |
BUY. PROLOGIS INC's P/E ratio indicates a discount compared to an average of 49.19 for the Real Estate subsector and a significant premium compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 2.27 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 6.43. The price-to-sales ratio is well above both the S&P 500 average and the subsector average, indicating a premium. Upon assessment of these and other key valuation criteria, PROLOGIS INC proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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PLD 39.74 | Peers 49.19 | PLD 22.49 | Peers 18.58 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. PLD is trading at a discount to its peers. |
Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. PLD is trading at a premium to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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PLD 42.59 | Peers 40.04 | PLD NM | Peers 5.86 | |||||||||||||||||||||
Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations. PLD is trading at a significant premium to its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. PLD's negative PEG ratio makes this valuation measure meaningless. |
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Price/Book |
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Earnings Growth |
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PLD 2.27 | Peers 6.43 | PLD -24.37 | Peers -7.55 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. PLD is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, PLD is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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PLD 14.34 | Peers 7.79 | PLD 34.02 | Peers 11.68 | |||||||||||||||||||||
Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. PLD is trading at a significant premium to its subsector. |
Higher. A sales growth rate that exceeds the subsector implies that a company is gaining market share. PLD has a sales growth rate that significantly exceeds its peers. |
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