PLD Prologis

Exchange

NYSE

Sector

Consumer Services

Industry

Real Estate Investment Trusts

Market Cap.

21.857B

Poor Cash Return on Invested Capital over the past 5 years

PLD has been unable to consistently generate sufficient returns from its investments in buildings, projects and equipment. This could be due to poor management, lack of an economic moat or the capital intensive nature of the business.

PLD has only created $1.74 of cash for every $100 invested.

Figures in USD. Fiscal year ends in December

	2007	2008	2009	2010	2011
Free Cash Flow	1.19B	806.72M	89.50M	212.22M	-962.80M
divided by
Invested Capital	19.72B	19.25B	16.89B	14.90B	27.72B
Cash ROIC	6.02%	4.19%	0.53%	1.42%	-3.47%

Very Poor Return on Equity over the past 5 years

PLD has shown an inability to deliver results for shareholders. This could be due to poor management, PLD operating in a highly competitive industry, or having a weak business in general.

PLD has generated a $1.93 loss for every $100 of Shareholders' Equity.

Figures in USD. Fiscal year ends in December

	2007	2008	2009	2010	2011
Net Income	1.07B	-406.77M	23.93M	-1.27B	-157.94M
divided by
Stockholders' Equity	7.44B	6.42B	7.99B	7.51B	13.66B
Return on Equity	14.45%	-6.33%	0.30%	-16.93%	-1.16%

Excellent Business Performance over the past 10 years

PLD has been able to maintain profitability in good times and bad. This could mean PLD has an extremely strong business or has the ability to scale down costs when needed. This should be a fairly resilient business, but double check for future sustainability by looking at its Risk Factors in the Annual Report.

PLD has created positive free cash flow for 9 or more of the past 10 years.

Figures in USD. Fiscal year ends in December

	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011
Free Cash Flow	346.64M	304.01M	456.77M	471.20M	691.40M	1.19B	806.72M	89.50M	212.22M	-962.80M