PROLOGIS INC (PLD) Stock Fundamental Analysis
USA - NYSE:PLD - US74340W1036 - REIT
123.82 USD
-0.18 (-0.15%)
123.82 USD
0 (0%)
PLD gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 127 industry peers in the Diversified REITs industry. PLD has an excellent profitability rating, but there are concerns on its financial health. While showing a medium growth rate, PLD is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
PLD had positive earnings in the past year.
In the past year PLD had a positive cash flow from operations.
PLD had positive earnings in each of the past 5 years.
Each year in the past 5 years PLD had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.52%, PLD belongs to the top of the industry, outperforming 81.10% of the companies in the same industry.
The Return On Equity of PLD (6.53%) is better than 75.59% of its industry peers.
The Return On Invested Capital of PLD (2.80%) is comparable to the rest of the industry.
PLD had an Average Return On Invested Capital over the past 3 years of 2.50%. This is in line with the industry average of 3.07%.
The 3 year average ROIC (2.50%) for PLD is below the current ROIC(2.80%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 6.53% | ||
| ROIC | 2.8% |
ROA(3y)3.67%
ROA(5y)3.73%
ROE(3y)6.32%
ROE(5y)6.47%
ROIC(3y)2.5%
ROIC(5y)2.38%
1.3 Margins
With an excellent Profit Margin value of 40.22%, PLD belongs to the best of the industry, outperforming 90.55% of the companies in the same industry.
PLD's Profit Margin has been stable in the last couple of years.
PLD has a Operating Margin of 39.34%. This is amongst the best in the industry. PLD outperforms 85.04% of its industry peers.
In the last couple of years the Operating Margin of PLD has grown nicely.
With a decent Gross Margin value of 75.35%, PLD is doing good in the industry, outperforming 73.23% of the companies in the same industry.
In the last couple of years the Gross Margin of PLD has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 39.34% | ||
| PM (TTM) | 40.22% | ||
| GM | 75.35% |
OM growth 3Y3.59%
OM growth 5Y4.87%
PM growth 3Y-9.67%
PM growth 5Y-0.7%
GM growth 3Y0.52%
GM growth 5Y0.68%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so PLD is destroying value.
The number of shares outstanding for PLD has been increased compared to 1 year ago.
PLD has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, PLD has a worse debt to assets ratio.
2.2 Solvency
PLD has an Altman-Z score of 1.70. This is a bad value and indicates that PLD is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of PLD (1.70) is better than 92.91% of its industry peers.
A Debt/Equity ratio of 0.65 indicates that PLD is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.65, PLD belongs to the top of the industry, outperforming 83.46% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.65 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.7 |
ROIC/WACC0.38
WACC7.32%
2.3 Liquidity
PLD has a Current Ratio of 0.39. This is a bad value and indicates that PLD is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of PLD (0.39) is worse than 85.04% of its industry peers.
A Quick Ratio of 0.39 indicates that PLD may have some problems paying its short term obligations.
PLD has a Quick ratio of 0.39. This is amonst the worse of the industry: PLD underperforms 84.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.39 | ||
| Quick Ratio | 0.39 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 3.63% over the past year.
The Earnings Per Share has been growing by 10.30% on average over the past years. This is quite good.
Looking at the last year, PLD shows a quite strong growth in Revenue. The Revenue has grown by 10.75% in the last year.
PLD shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 19.75% yearly.
EPS 1Y (TTM)3.63%
EPS 3Y0.51%
EPS 5Y10.3%
EPS Q2Q%-24.07%
Revenue 1Y (TTM)10.75%
Revenue growth 3Y19.89%
Revenue growth 5Y19.75%
Sales Q2Q%8.28%
3.2 Future
The Earnings Per Share is expected to grow by 2.20% on average over the next years.
Based on estimates for the next years, PLD will show a small growth in Revenue. The Revenue will grow by 6.56% on average per year.
EPS Next Y-33.13%
EPS Next 2Y-14.03%
EPS Next 3Y-5.58%
EPS Next 5Y2.2%
Revenue Next Year11.52%
Revenue Next 2Y9.09%
Revenue Next 3Y7.94%
Revenue Next 5Y6.56%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 36.10, PLD can be considered very expensive at the moment.
PLD's Price/Earnings ratio is in line with the industry average.
PLD is valuated rather expensively when we compare the Price/Earnings ratio to 26.13, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 41.88, which means the current valuation is very expensive for PLD.
PLD's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. PLD is cheaper than 61.42% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of PLD to the average of the S&P500 Index (22.35), we can say PLD is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.1 | ||
| Fwd PE | 41.88 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PLD indicates a rather expensive valuation: PLD more expensive than 90.55% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 24.86 |
4.3 Compensation for Growth
The excellent profitability rating of PLD may justify a higher PE ratio.
A cheap valuation may be justified as PLD's earnings are expected to decrease with -5.58% in the coming years.
PEG (NY)N/A
PEG (5Y)3.5
EPS Next 2Y-14.03%
EPS Next 3Y-5.58%
5. Dividend
5.1 Amount
PLD has a Yearly Dividend Yield of 3.25%.
Compared to an average industry Dividend Yield of 6.30, PLD is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.39, PLD pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.25% |
5.2 History
On average, the dividend of PLD grows each year by 12.58%, which is quite nice.
PLD has paid a dividend for at least 10 years, which is a reliable track record.
PLD has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)12.58%
Div Incr Years11
Div Non Decr Years15
5.3 Sustainability
106.52% of the earnings are spent on dividend by PLD. This is not a sustainable payout ratio.
PLD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP106.52%
EPS Next 2Y-14.03%
EPS Next 3Y-5.58%
123.82
-0.18 (-0.15%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.15%
Inst Owner Change-0.39%
Ins Owners0.24%
Ins Owner Change16.36%
Market Cap114.99B
Revenue(TTM)8.74B
Net Income(TTM)3.44B
Analysts78.57
Price Target131.82 (6.46%)
Short Float %0.96%
Short Ratio2.63
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.25% |
Yearly Dividend3.86
Dividend Growth(5Y)12.58%
DP106.52%
Div Incr Years11
Div Non Decr Years15
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.73%
Min EPS beat(2)-4.74%
Max EPS beat(2)3.27%
EPS beat(4)3
Avg EPS beat(4)44.78%
Min EPS beat(4)-4.74%
Max EPS beat(4)111.94%
EPS beat(8)7
Avg EPS beat(8)37.9%
EPS beat(12)10
Avg EPS beat(12)28.94%
EPS beat(16)14
Avg EPS beat(16)51.01%
Revenue beat(2)0
Avg Revenue beat(2)-3.54%
Min Revenue beat(2)-3.74%
Max Revenue beat(2)-3.34%
Revenue beat(4)0
Avg Revenue beat(4)-3.13%
Min Revenue beat(4)-3.74%
Max Revenue beat(4)-1.95%
Revenue beat(8)1
Avg Revenue beat(8)-2.49%
Revenue beat(12)4
Avg Revenue beat(12)4.28%
Revenue beat(16)8
Avg Revenue beat(16)6.81%
PT rev (1m)7.8%
PT rev (3m)8.91%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.17%
EPS NY rev (1m)1.66%
EPS NY rev (3m)3.94%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.3%
Revenue NY rev (1m)0.4%
Revenue NY rev (3m)2.98%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.1 | ||
| Fwd PE | 41.88 | ||
| P/S | 13.43 | ||
| P/FCF | N/A | ||
| P/OCF | 22.23 | ||
| P/B | 2.18 | ||
| P/tB | 2.18 | ||
| EV/EBITDA | 24.86 |
EPS(TTM)3.43
EY2.77%
EPS(NY)2.96
Fwd EY2.39%
FCF(TTM)-1.22
FCFYN/A
OCF(TTM)5.57
OCFY4.5%
SpS9.22
BVpS56.78
TBVpS56.78
PEG (NY)N/A
PEG (5Y)3.5
Graham Number66.2
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.52% | ||
| ROE | 6.53% | ||
| ROCE | 3.55% | ||
| ROIC | 2.8% | ||
| ROICexc | 2.83% | ||
| ROICexgc | 2.98% | ||
| OM | 39.34% | ||
| PM (TTM) | 40.22% | ||
| GM | 75.35% | ||
| FCFM | N/A |
ROA(3y)3.67%
ROA(5y)3.73%
ROE(3y)6.32%
ROE(5y)6.47%
ROIC(3y)2.5%
ROIC(5y)2.38%
ROICexc(3y)2.52%
ROICexc(5y)2.4%
ROICexgc(3y)2.61%
ROICexgc(5y)2.49%
ROCE(3y)3.16%
ROCE(5y)3.01%
ROICexgc growth 3Y5.02%
ROICexgc growth 5Y4.99%
ROICexc growth 3Y4.96%
ROICexc growth 5Y4.9%
OM growth 3Y3.59%
OM growth 5Y4.87%
PM growth 3Y-9.67%
PM growth 5Y-0.7%
GM growth 3Y0.52%
GM growth 5Y0.68%
F-Score7
Asset Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.65 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.72 | ||
| Cap/Depr | 240.97% | ||
| Cap/Sales | 73.61% | ||
| Interest Coverage | 4.13 | ||
| Cash Conversion | 86.46% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.39 | ||
| Quick Ratio | 0.39 | ||
| Altman-Z | 1.7 |
F-Score7
WACC7.32%
ROIC/WACC0.38
Cap/Depr(3y)289.47%
Cap/Depr(5y)281.07%
Cap/Sales(3y)89.36%
Cap/Sales(5y)90.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)3.63%
EPS 3Y0.51%
EPS 5Y10.3%
EPS Q2Q%-24.07%
EPS Next Y-33.13%
EPS Next 2Y-14.03%
EPS Next 3Y-5.58%
EPS Next 5Y2.2%
Revenue 1Y (TTM)10.75%
Revenue growth 3Y19.89%
Revenue growth 5Y19.75%
Sales Q2Q%8.28%
Revenue Next Year11.52%
Revenue Next 2Y9.09%
Revenue Next 3Y7.94%
Revenue Next 5Y6.56%
EBIT growth 1Y24.43%
EBIT growth 3Y24.19%
EBIT growth 5Y25.58%
EBIT Next Year78.72%
EBIT Next 3Y26.89%
EBIT Next 5Y21.28%
FCF growth 1Y60.52%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y7.53%
OCF growth 3Y17.92%
OCF growth 5Y16.76%
PROLOGIS INC / PLD FAQ
What is the fundamental rating for PLD stock?
ChartMill assigns a fundamental rating of 4 / 10 to PLD.
What is the valuation status for PLD stock?
ChartMill assigns a valuation rating of 2 / 10 to PROLOGIS INC (PLD). This can be considered as Overvalued.
Can you provide the profitability details for PROLOGIS INC?
PROLOGIS INC (PLD) has a profitability rating of 8 / 10.
What is the earnings growth outlook for PROLOGIS INC?
The Earnings per Share (EPS) of PROLOGIS INC (PLD) is expected to decline by -33.13% in the next year.
How sustainable is the dividend of PROLOGIS INC (PLD) stock?
The dividend rating of PROLOGIS INC (PLD) is 5 / 10 and the dividend payout ratio is 106.52%.