PLD vs SPG
Prologis, Inc. and Simon Property Group Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | PLD | SPG |
|---|---|---|
| Revenue | $8.8B | $6.4B |
| Net income | $3.3B | $5.4B |
| Gross margin | · | 98.1% |
| Net margin | 40.6% | 84.3% |
| Return on equity | 6.2% | · |
| Diluted EPS | $3.56 | $14.17 |
| Dividend / share | $0.03 | $8.55 |
| Payout ratio | 113.1% | · |
| Free cash flow | $3.2B | $3.2B |
| Equity | $53.2B | $5.2B |
| Net debt / equity | 0.64× | 5.30× |
| Current ratio | · | · |
| Revenue CAGR 5y | 14.6% | 6.7% |
| Profit CAGR 5y | 17.6% | 33.2% |
PLD bills 1.4× the revenue of SPG, and SPG keeps more of each dollar of revenue as profit (84.3% against 40.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | PLD | SPG |
|---|---|---|
| FY2025 | $8.8B | $6.4B |
| FY2024 | $8.2B | $6.0B |
| FY2023 | $8.0B | $5.7B |
| FY2022 | $6.0B | $5.3B |
| FY2021 | $4.8B | $5.1B |
| FY2020 | $4.4B | $4.6B |
| FY2019 | $3.3B | $5.8B |
| FY2018 | $2.8B | $5.6B |
| FY2017 | $2.6B | $5.5B |
| FY2016 | $2.5B | $5.4B |
Bottom line
| Fiscal year | PLD | SPG |
|---|---|---|
| FY2025 | $3.3B | $5.4B |
| FY2024 | $3.7B | $2.7B |
| FY2023 | $3.1B | $2.6B |
| FY2022 | $3.4B | $2.5B |
| FY2021 | $2.9B | $2.6B |
| FY2020 | $1.5B | $1.3B |
| FY2019 | $1.6B | $2.4B |
| FY2018 | $1.6B | $2.8B |
| FY2017 | $1.7B | $2.2B |
| FY2016 | $1.2B | $2.1B |
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$2,425,622,000 | PLD |
| FY2024 | +$2,237,812,000 | PLD |
| FY2023 | +$2,364,633,000 | PLD |
| FY2022 | +$682,245,000 | PLD |
| FY2021 | −$357,349,000 | SPG |
| FY2020 | −$168,768,000 | SPG |
| FY2019 | −$2,424,568,000 | SPG |
| FY2018 | −$2,840,839,000 | SPG |
| FY2017 | −$2,909,202,000 | SPG |
| FY2016 | −$2,902,094,000 | SPG |
| FY2015 | −$3,069,029,000 | SPG |
| FY2014 | −$3,110,031,000 | SPG |
| FY2013 | −$2,793,363,000 | SPG |
| FY2012 | −$2,295,639,000 | SPG |
| FY2011 | −$2,884,661,000 | SPG |
| FY2010 | −$3,117,478,000 | SPG |
| FY2009 | −$2,748,045,000 | SPG |
The higher-revenue side has changed between PLD and SPG over this period. The gap has narrowed since the earliest year compared.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −43.7 pp | SPG |
| FY2024 | +2.4 pp | PLD |
| FY2023 | −5.7 pp | SPG |
| FY2022 | +13.2 pp | PLD |
| FY2021 | +16.0 pp | PLD |
| FY2020 | +8.7 pp | PLD |
| FY2019 | +9.0 pp | PLD |
| FY2018 | +15.0 pp | PLD |
| FY2017 | +26.6 pp | PLD |
| FY2016 | +11.7 pp | PLD |
| FY2015 | +1.5 pp | PLD |
| FY2014 | +8.1 pp | PLD |
| FY2013 | −14.0 pp | SPG |
| FY2012 | −42.0 pp | SPG |
| FY2011 | −40.0 pp | SPG |
| FY2010 | −170.3 pp | SPG |
| FY2009 | −7.9 pp | SPG |
The higher net margin has changed hands between PLD and SPG over this period.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
PLD's net margin has been more volatile than SPG's over the 17 comparable fiscal years — 50.2 percentage points of standard deviation against 15.2.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between PLD and SPG over these 17 fiscal years — PLD led in 10 and SPG in 7.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.