Prologis vs Rexford Industrial Realty
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The short version
- Prologis is the larger business, with $8.8B of revenue in fiscal 2025 against $1.0B for Rexford Industrial Realty, about 8.8 times as much.
| Latest fiscal year | PLD · FY25 | REXR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $121.1B | $8.7B |
| Revenue | $8.8B | $1.0B |
| Free cash flow | — | $209M |
| Net income | $3.3B | $212M |
| Growth | ||
| Revenue growth | 7.2% | 7.1% |
| 5-year growth | 14.6% | 24.9% |
| Share count change | 0.3% | 6.5% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 49.6% | — |
| Net margin | 37.9% | 21.1% |
| FCF margin | — | 20.8% |
| Return on capital | 4.6% | — |
| Return on equity | 6.2% | 2.5% |
| Balance sheet | ||
| Net debt | $33.9B | $3.1B |
| Net debt / EBITDA | 4.9x | — |
| Dividends and buybacks | $3.8B | $648M |
| Valuation & quality | ||
| P/E | 31.9x | — |
| Piotroski F-score | — | — |
Revenue
FY16
PLD $2.5B
REXR $126M
FY17
PLD $2.6B
REXR $161M
FY18
PLD $2.8B
REXR $213M
FY19
PLD $3.3B
REXR $267M
FY20
PLD $4.4B
REXR $330M
FY21
PLD $4.8B
REXR $452M
FY22
PLD $6.0B
REXR $631M
FY23
PLD $8.0B
REXR $798M
FY24
PLD $8.2B
REXR $936M
FY25
PLD $8.8B
REXR $1.0B
PLD
REXR
Operating margin
FY16
PLD 26.4%
REXR —
FY17
PLD 74.6%
REXR —
FY18
PLD 60.2%
REXR —
FY19
PLD 55.5%
REXR —
FY20
PLD 47.7%
REXR —
FY21
PLD 67.4%
REXR —
FY22
PLD 58.1%
REXR —
FY23
PLD 46.2%
REXR —
FY24
PLD 53.8%
REXR —
FY25
PLD 49.6%
REXR —
PLD
REXR
Free cash flow
FY16
PLD —
REXR $24.5M
FY17
PLD —
REXR $34.3M
FY18
PLD —
REXR $44.8M
FY19
PLD —
REXR $92.3M
FY20
PLD —
REXR $104M
FY21
PLD —
REXR $129M
FY22
PLD —
REXR $193M
FY23
PLD —
REXR $161M
FY24
PLD —
REXR $106M
FY25
PLD —
REXR $209M
PLD
REXR
Return on capital
FY16
PLD 2.2%
REXR —
FY17
PLD 6.8%
REXR —
FY18
PLD 5.1%
REXR —
FY19
PLD 4.8%
REXR —
FY20
PLD 4.4%
REXR —
FY21
PLD 5.7%
REXR —
FY22
PLD 4.9%
REXR —
FY23
PLD 4.2%
REXR —
FY24
PLD 4.9%
REXR —
FY25
PLD 4.6%
REXR —
PLD
REXR
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.