Prologis (PLD) FY2018 results: revenue $2.8 billion, up 7.1% on the year
Prologis, Inc. (PLD) reported revenue of $2.8 billion for fiscal 2018, the year ended 31 December 2018, up 7.1% on the year before. Net income was $1.6 billion, down 0.2%, and diluted earnings per share $2.87. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$2.8 billion
+7.1% on the year
FY2011FY2018
Operating margin
60.2%
74.6% a year earlier
FY2011FY2018
Net income
$1.6 billion
-0.2% on the year
FY2011FY2018
Diluted EPS
$2.87
-6.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,804
2,618
2,533
+7.1%
Operating income
1,688
1,954
668
-13.6%
Operating margin
60.2%
74.6%
26.4%
Interest expense
229
274
303
-16.5%
Pre-tax income
1,886
1,816
1,347
+3.9%
Income tax
63.3
54.6
54.6
+16.0%
Effective tax rate
3.4%
3.0%
4.1%
Net income
1,649
1,652
1,210
-0.2%
Net margin
58.8%
63.1%
47.8%
Diluted EPS
$2.87
$3.06
$2.27
-6.2%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,804
1,687
1,417
+6.9%
Capital expenditure
1,953
1,606
n/a
+21.6%
Free cash flow
-150
81.1
n/a
Free cash flow margin
-5.3%
3.1%
n/a
Cash from investing
-664
543
1,252
Cash from financing
-1,232
-2,607
-2,125
Depreciation and amortisation
947
879
931
+7.7%
Share-based compensation
76.1
76.6
60.3
-0.7%
Dividends paid
1,123
943
893
+19.1%
Dividend per share
$1.92
$1.76
$1.68
+9.1%
Diluted shares, weighted
590m
552m
547m
+6.9%
Shares outstanding at period end
630m
532m
529m
+18.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
22,298
15,631
14,991
+42.7%
Non-controlling interest
3,503
3,075
3,467
+13.9%
Debt
11,090
9,413
10,608
+17.8%
Other liabilities
1,527
1,363
1,183
+12.1%
Total liabilities and equity
38,418
29,481
30,250
+30.3%
Fixed assets
112
n/a
n/a
Intangible assets
755
468
520
+61.2%
Cash and equivalents
344
447
807
-23.1%
Other assets
37,207
28,566
28,922
+30.2%
Total assets
38,418
29,481
30,250
+30.3%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.