Prologis, Inc. reported a strong financial performance for the fiscal year ending December 31, 2025, with total revenues reaching $8.2 billion, a 9% increase from $7.5 billion in 2024. The company’s net earnings attributable to common stockholders were $3.3 billion, down from $3.7 billion in the previous year. The decline in net earnings was primarily attributed to lower gains on real estate transactions, which amounted to $944 million in 2025 compared to $1.3 billion in 2024. Funds from operations (FFO), a key performance metric for real estate investment trusts (REITs), totaled $5.8 billion, reflecting a slight increase from $5.7 billion in 2024.
Prologis experienced significant operational developments during the year, including the signing of 112 million square feet of new leases in its consolidated portfolio, which contributed to an occupancy rate of 95.6% as of December 31, 2025. The company also reported a 50.1% increase in net effective rents on leases that commenced during the year, indicating strong demand for logistics space. The company’s owned and managed (O&M) portfolio expanded to approximately 1.3 billion square feet across 20 countries, with a notable focus on high-barrier, high-growth markets.
Strategically, Prologis continued to enhance its development capabilities, commencing $2.9 billion in new projects, with 60.9% of these being build-to-suit developments. The company also launched the China AMC Prologis Logistics REIT on the Shenzhen Stock Exchange in December 2025, further diversifying its capital structure. Prologis maintained a strong balance sheet, with total available liquidity of $7.6 billion, including $6.5 billion in credit facilities and $1.1 billion in unrestricted cash.
The company’s workforce also saw growth, with a total employee count of 2,802 as of December 31, 2025, up from 2,700 in the previous year. Prologis emphasized its commitment to sustainability, achieving its goal of 1.1 gigawatts of solar generation and storage capacity across its O&M portfolio. The company’s focus on environmental, social, and governance (ESG) initiatives is expected to continue driving operational efficiencies and enhancing customer value.
Looking ahead, Prologis expressed optimism about its growth prospects, citing the embedded rent growth in its existing leases and a robust development pipeline. However, the company acknowledged potential economic uncertainties that could impact its future financial performance. Prologis remains committed to leveraging its scale and strategic partnerships to navigate market challenges and capitalize on emerging opportunities in the logistics real estate sector.
About Prologis, Inc.
Prologis, Inc. is a global leader in logistics real estate, owning, managing, and developing high-quality warehouses and distribution centers across 20 countries. Its portfolio supports e-commerce, supply chain modernization, and customer needs for efficient, sustainable facilities. The company generates revenue through leasing, development, and strategic co-investments, leveraging scale, location, and innovative solutions to serve diverse global customers.
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