First Industrial Realty Trust
FR · Industrial REITs
$54.44
1.5%Prologis
PLD · Industrial REITs
$126.45
0.2%The short version
- Prologis is the larger business, with $8.8B of revenue in fiscal 2025 against $727M for First Industrial Realty Trust, about 12 times as much.
- First Industrial Realty Trust grew revenue faster (8.6%, against 7.2%).
- Investors pay more for each dollar of Prologis’s earnings: a P/E of 31.9x against 19.8x for First Industrial Realty Trust.
| Latest fiscal year | FR · FY25 | PLD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.2B | $121.1B |
| Revenue | $727M | $8.8B |
| Free cash flow | — | — |
| Net income | $247M | $3.3B |
| Growth | ||
| Revenue growth | 8.6% | 7.2% |
| 5-year growth | 10.2% | 14.6% |
| Share count change | 0.1% | 0.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 49.6% |
| Net margin | 34.0% | 37.9% |
| FCF margin | — | — |
| Return on capital | — | 4.6% |
| Return on equity | 9.3% | 6.2% |
| Balance sheet | ||
| Net debt | — | $33.9B |
| Net debt / EBITDA | — | 4.9x |
| Dividends and buybacks | $231M | $3.8B |
| Valuation & quality | ||
| P/E | 19.8x | 31.9x |
| Piotroski F-score | — | — |
FY16
FR $378M
PLD $2.5B
FY17
FR $396M
PLD $2.6B
FY18
FR $404M
PLD $2.8B
FY19
FR $426M
PLD $3.3B
FY20
FR $448M
PLD $4.4B
FY21
FR $476M
PLD $4.8B
FY22
FR $540M
PLD $6.0B
FY23
FR $614M
PLD $8.0B
FY24
FR $670M
PLD $8.2B
FY25
FR $727M
PLD $8.8B
FR
PLD
FY16
FR —
PLD 26.4%
FY17
FR —
PLD 74.6%
FY18
FR —
PLD 60.2%
FY19
FR —
PLD 55.5%
FY20
FR —
PLD 47.7%
FY21
FR —
PLD 67.4%
FY22
FR —
PLD 58.1%
FY23
FR —
PLD 46.2%
FY24
FR —
PLD 53.8%
FY25
FR —
PLD 49.6%
FR
PLD
FY16
FR —
PLD —
FY17
FR —
PLD —
FY18
FR —
PLD —
FY19
FR —
PLD —
FY20
FR —
PLD —
FY21
FR —
PLD —
FY22
FR —
PLD —
FY23
FR —
PLD —
FY24
FR —
PLD —
FY25
FR —
PLD —
FR
PLD
FY16
FR —
PLD 2.2%
FY17
FR —
PLD 6.8%
FY18
FR —
PLD 5.1%
FY19
FR —
PLD 4.8%
FY20
FR —
PLD 4.4%
FY21
FR —
PLD 5.7%
FY22
FR —
PLD 4.9%
FY23
FR —
PLD 4.2%
FY24
FR —
PLD 4.9%
FY25
FR —
PLD 4.6%
FR
PLD
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.