Filing Flows › Prologis (PLD) › Q1 2026 › vs Q1 2025
Prologis (PLD) Q1 2026 vs Q1 2025 (year over year)
Prologis's revenue rose $158M (+7%) from $2.1B in Q1 2025 to $2.3B in Q1 2026. Operating margin 52.7% against 41.1% (+11.7 pts).
Prologis, Q1 2026: revenue $2.3B (+7% year over year), operating margin 52.7%, net earnings $982M, operating cash flow $1.3B. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 52.7% | 41.1% | +11.7 pts |
| Net margin | 42.7% | 27.7% | +15.0 pts |
| Free cash flow margin | 22.8% | 18.0% | +4.8 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $2.3B | $2.1B | $158M | +7% |
| Operating profit | $1.2B | $878M | $333M | +38% |
| Costs & expenses | $1.1B | $1.3B | −$175M | -14% |
| Pre-tax earnings | $1.1B | $683M | $410M | +60% |
| Other expense, net | $118M | $196M | −$77.2M | -40% |
| General & admin | $127M | $115M | $12.2M | +11% |
| Other operating costs | $960M | $1.1B | −$187M | -16% |
| Net earnings | $982M | $593M | $389M | +66% |
| Minority interests | $62.8M | $46.6M | $16.3M | +35% |
| Income tax | $48.0M | $43.4M | $4.6M | +11% |
| Depreciation & amortization | $732M | $652M | $79.4M | +12% |
| Share-based compensation | $60.6M | $53.2M | $7.5M | +14% |
| Working capital & other | $486M | $137M | $349M | +254% |
| Operating cash flow | $1.3B | $1.2B | $127M | +11% |
| Free cash flow (OCF − capex) | $524M | $385M | $139M | +36% |
| Capital expenditures | $764M | $776M | −$11.7M | -2% |
Questions
How much did Prologis's revenue grow year over year in Q1 2026?
Prologis's revenue rose $158M (+7%) from $2.1B in Q1 2025 to $2.3B in Q1 2026. Operating margin 52.7% against 41.1% (+11.7 pts).