Prologis (PLD) FY2023 results: revenue $8.0 billion, up 34.3% on the year
Prologis, Inc. (PLD) reported revenue of $8.0 billion for fiscal 2023, the year ended 31 December 2023, up 34.3% on the year before. Net income was $3.1 billion, down 9.1%, and diluted earnings per share $3.29. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2024.
Revenue
$8.0 billion
+34.3% on the year
FY2016FY2023
Operating margin
46.2%
58.0% a year earlier
FY2016FY2023
Net income
$3.1 billion
-9.1% on the year
FY2016FY2023
Diluted EPS
$3.29
-22.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
5,373
4,126
2,996
+30.2%
Capital expenditure
3,399
3,118
2,640
+9.0%
Free cash flow
1,974
1,008
356
+95.8%
Free cash flow margin
24.6%
16.9%
7.5%
Cash from investing
-6,419
-4,499
-1,990
Cash from financing
1,320
116
-1,008
+1,040.2%
Depreciation and amortisation
2,485
1,813
1,578
+37.1%
Share-based compensation
268
175
113
+52.6%
Dividends paid
3,229
2,495
1,873
+29.4%
Dividend per share
$3.48
$3.16
$2.52
+10.1%
Diluted shares, weighted
952m
812m
765m
+17.3%
Shares outstanding at period end
924m
923m
740m
+0.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
53,182
53,237
33,427
-0.1%
Non-controlling interest
4,642
4,626
4,315
+0.3%
Debt
29,001
23,876
17,715
+21.5%
Other liabilities
6,197
6,158
3,029
+0.6%
Total liabilities and equity
93,021
87,897
58,486
+5.8%
Fixed assets
208
120
118
+73.5%
Intangible assets
1,680
1,733
989
-3.1%
Cash and equivalents
530
278
556
+90.5%
Other assets
90,603
85,766
56,823
+5.6%
Total assets
93,021
87,897
58,486
+5.8%
10-K for the year ended 31 December 2023, filed 13 February 2024: the filing.