Prologis (PLD) FY2020 results: revenue $4.4 billion, up 33.3% on the year
Prologis, Inc. (PLD) reported revenue of $4.4 billion for fiscal 2020, the year ended 31 December 2020, up 33.3% on the year before. Net income was $1.5 billion, down 5.8%, and diluted earnings per share $2.01. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$4.4 billion
+33.3% on the year
FY2013FY2020
Operating margin
47.7%
55.5% a year earlier
FY2013FY2020
Net income
$1.5 billion
-5.8% on the year
FY2013FY2020
Diluted EPS
$2.01
-18.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,439
3,331
2,804
+33.3%
Operating income
2,119
1,850
1,688
+14.6%
Operating margin
47.7%
55.5%
60.2%
Interest expense
315
240
229
+31.1%
Pre-tax income
1,747
1,776
1,886
-1.6%
Income tax
130
74.5
63.3
+75.1%
Effective tax rate
7.5%
4.2%
3.4%
Net income
1,482
1,573
1,649
-5.8%
Net margin
33.4%
47.2%
58.8%
Diluted EPS
$2.01
$2.46
$2.87
-18.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,937
2,264
1,804
+29.7%
Capital expenditure
1,920
1,795
1,953
+7.0%
Free cash flow
1,017
469
-150
+116.8%
Free cash flow margin
22.9%
14.1%
-5.3%
Cash from investing
-3,074
-685
-664
Cash from financing
-372
-840
-1,232
Depreciation and amortisation
1,562
1,140
947
+37.0%
Share-based compensation
110
97.6
76.1
+12.6%
Dividends paid
1,723
1,346
1,123
+28.0%
Dividend per share
$2.32
$2.12
$1.92
+9.4%
Diluted shares, weighted
754m
655m
590m
+15.2%
Shares outstanding at period end
739m
632m
630m
+17.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
31,972
22,653
22,298
+41.1%
Non-controlling interest
4,353
3,419
3,503
+27.3%
Debt
16,849
11,906
11,090
+41.5%
Other liabilities
2,891
2,054
1,527
+40.8%
Total liabilities and equity
56,065
40,032
38,418
+40.1%
Fixed assets
118
107
112
+9.5%
Intangible assets
1,053
671
755
+56.9%
Cash and equivalents
598
1,089
344
-45.1%
Other assets
54,296
38,164
37,207
+42.3%
Total assets
56,065
40,032
38,418
+40.1%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.