Prologis (PLD) FY2014 results: revenue $1.8 billion, up 0.6% on the year
Prologis, Inc. (PLD) reported revenue of $1.8 billion for fiscal 2014, the year ended 31 December 2014, up 0.6% on the year before. Net income was $636 million, up 85.5%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$1.8 billion
+0.6% on the year
FY2009FY2014
Operating margin
18.2%
17.4% a year earlier
FY2009FY2014
Net income
$636 million
+85.5% on the year
FY2009FY2014
Diluted EPS
$1.24
+93.8% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,761
1,750
1,961
+0.6%
Operating income
320
304
93.0
+5.1%
Operating margin
18.2%
17.4%
4.7%
Interest expense
309
379
505
-18.6%
Pre-tax income
714
336
-103
+112.2%
Income tax
-25.7
107
-3.6
Effective tax rate
-3.6%
31.7%
n/a
Net income
636
343
-39.7
+85.5%
Net margin
36.1%
19.6%
-2.0%
Diluted EPS
$1.24
$0.64
-$0.18
+93.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
705
485
463
+45.3%
Cash from investing
-488
2,334
530
Cash from financing
-338
-2,366
-1,072
Depreciation and amortisation
642
664
767
-3.2%
Share-based compensation
57.5
49.2
32.1
+16.7%
Dividends paid
672
552
520
+21.7%
Dividend per share
$1.32
$1.12
$1.12
+17.9%
Diluted shares, weighted
506m
492m
460m
+3.0%
Shares outstanding at period end
509m
499m
462m
+2.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
13,976
13,711
13,069
+1.9%
Non-controlling interest
1,208
465
704
+159.6%
Debt
9,337
9,011
11,791
+3.6%
Other liabilities
1,298
1,385
1,746
-6.3%
Total liabilities and equity
25,818
24,572
27,310
+5.1%
Intangible assets
242
222
219
+8.7%
Cash and equivalents
351
491
101
-28.6%
Other assets
25,226
23,859
26,991
+5.7%
Total assets
25,818
24,572
27,310
+5.1%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.