Prologis Inc
NYSE: PLD · REAL ESTATE · REIT - INDUSTRIAL
Updated 2026-06-12
Prologis Inc (PLD) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for PLD.
Valued
Valuation reasonably reflects current fundamentals. Limited margin of safety at these levels.
PLD historical valuation range
Where current P/E sits in PLD's own 5Y range.
PLD intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
PLD valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 35.37x
P/S Ratio — History
Current: 13.96x
Is PLD overvalued in 2026?
Prologis Inc (PLD) currently trades at $148.74 per share with a market capitalization of $130,909,577,000.00. Based on our multi-factor framework, the stock trades at a fair valuation with a Smart Value Score of 63/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 35.4x, below its 5-year median of 37.8x. The PEG ratio of 108.14 indicates the price has run ahead of the underlying growth rate.
Looking at its own history, PLD is currently trading cheaper than 72% of the last 5Y on P/E. This places it in the 28th percentile of its historical range, a reasonable but unremarkable position.
Our discounted cash flow model estimates PLD's intrinsic value at $254.85 per share, against the current market price of $148.74. This implies a margin of safety of +43.28%. A meaningful cushion exists against model error, making this a reasonable risk-adjusted entry.
Financial quality is a concern. The Piotroski F-Score of 2/9 flags weakening fundamentals that deserve closer scrutiny before the valuation case can be fully trusted.
Bottom line: PLD trades at a fair valuation on our framework, with a Smart Value Score of 63/100. The valuation is defensible but offers no obvious bargain. Patience or a better entry price may reward disciplined buyers.
Frequently asked questions
Is PLD overvalued?
PLD scores 63/100 on our Smart Value Score (Grade C+), a mixed overall profile. The DCF also shows a positive margin of safety, so price and fundamentals line up reasonably well.
What is PLD's fair value?
Our DCF model estimates PLD's intrinsic value at $254.85 per share, versus the current price of $148.74, a margin of safety of +43.28%. Fair value is the present value of the cash flows we project the business to produce, so a price below it means the market is pricing the stock below that conservative estimate.
What P/E ratio does PLD trade at?
PLD trades at a P/E of 35.4x on trailing twelve-month earnings, against a 5-year median of 37.8x. P/E is what you pay per dollar of profit, and sitting below its own median means the stock is cheaper than usual relative to its earnings.
Is PLD a buy based on valuation?
Our Smart Value rating for PLD is Hold, from a Smart Value Score of 63/100 that blends growth, quality, and valuation. The profile is balanced and best suited to investors who already have a thesis. This is research to inform your decision, not personalized financial advice.
How does PLD's valuation compare to its history?
On P/E, PLD sits in the 28th percentile of its own 5Y range, below its long-run median relative to where it has traded. A low percentile means today's multiple is near the bottom of its historical band.
What is PLD's Smart Value Score?
PLD's Smart Value Score is 63/100. It is a proprietary WallStSmart metric blending growth quality, financial health, and valuation into a single 0-100 read, and scores above 75 are rare, signaling strong multi-factor alignment.