Prologis vs STAG Industrial
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The short version
- Prologis is the larger business, with $8.8B of revenue in fiscal 2025 against $845M for STAG Industrial, about 10 times as much.
- STAG Industrial grew revenue faster (10.1%, against 7.2%).
- Investors pay more for each dollar of Prologis’s earnings: a P/E of 31.9x against 28.2x for STAG Industrial.
| Latest fiscal year | PLD · FY25 | STAG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $121.1B | $7.0B |
| Revenue | $8.8B | $845M |
| Free cash flow | — | $259M |
| Net income | $3.3B | $274M |
| Growth | ||
| Revenue growth | 7.2% | 10.1% |
| 5-year growth | 14.6% | 11.8% |
| Share count change | 0.3% | 2.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 49.6% | — |
| Net margin | 37.9% | 32.4% |
| FCF margin | — | 30.6% |
| Return on capital | 4.6% | — |
| Return on equity | 6.2% | 7.8% |
| Balance sheet | ||
| Net debt | $33.9B | $3.2B |
| Net debt / EBITDA | 4.9x | — |
| Dividends and buybacks | $3.8B | $284M |
| Valuation & quality | ||
| P/E | 31.9x | 28.2x |
| Piotroski F-score | — | — |
Revenue
FY16
PLD $2.5B
STAG $250M
FY17
PLD $2.6B
STAG $301M
FY18
PLD $2.8B
STAG $351M
FY19
PLD $3.3B
STAG $406M
FY20
PLD $4.4B
STAG $483M
FY21
PLD $4.8B
STAG $562M
FY22
PLD $6.0B
STAG $657M
FY23
PLD $8.0B
STAG $708M
FY24
PLD $8.2B
STAG $767M
FY25
PLD $8.8B
STAG $845M
PLD
STAG
Operating margin
FY16
PLD 26.4%
STAG —
FY17
PLD 74.6%
STAG —
FY18
PLD 60.2%
STAG —
FY19
PLD 55.5%
STAG —
FY20
PLD 47.7%
STAG —
FY21
PLD 67.4%
STAG —
FY22
PLD 58.1%
STAG —
FY23
PLD 46.2%
STAG —
FY24
PLD 53.8%
STAG —
FY25
PLD 49.6%
STAG —
PLD
STAG
Free cash flow
FY16
PLD —
STAG $105M
FY17
PLD —
STAG $116M
FY18
PLD —
STAG $163M
FY19
PLD —
STAG $168M
FY20
PLD —
STAG $238M
FY21
PLD —
STAG $297M
FY22
PLD —
STAG $276M
FY23
PLD —
STAG $283M
FY24
PLD —
STAG $310M
FY25
PLD —
STAG $259M
PLD
STAG
Return on capital
FY16
PLD 2.2%
STAG —
FY17
PLD 6.8%
STAG —
FY18
PLD 5.1%
STAG —
FY19
PLD 4.8%
STAG —
FY20
PLD 4.4%
STAG —
FY21
PLD 5.7%
STAG —
FY22
PLD 4.9%
STAG —
FY23
PLD 4.2%
STAG —
FY24
PLD 4.9%
STAG —
FY25
PLD 4.6%
STAG —
PLD
STAG
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.