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Prologis vs Simon Property: revenue, profit, margins and growth compared

Prologis brought in $8.8B of revenue in fiscal 2025, Simon Property $6.4B in fiscal 2025. Revenue changed by +7.2% at Prologis and +6.7% at Simon Property on the year before, so Prologis grew faster. Prologis kept 37.9% of its revenue as net profit, Simon Property 72.7%.

Side by side, latest fiscal year

PLDSPG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$8.8B$6.4B
Revenue growth+7.2%+6.7%
Net income$3.3B$4.6B
Net margin37.9%72.7%
Free cash flown/a$3.2B
Free cash flow marginn/a50.3%
Earnings per share (diluted)$3.56$14.17
Cash$1.1B$823.1M
Debt$35B$28.4B
Price to earnings35.514.9
Market value$119.9B$68.5B
Dividend yield0.02%4.04%
Rank by revenue in sector#5 of 231 · Real estate#9 of 231 · Real estate

Over the years

Revenue
PLD FY2018: $2.8BPLD FY2019: $3.3BPLD FY2020: $4.4BPLD FY2021: $4.8BPLD FY2022: $6BPLD FY2023: $8BPLD FY2024: $8.2BPLD FY2025: $8.8BSPG FY2018: $5.6BSPG FY2019: $5.8BSPG FY2020: $4.6BSPG FY2021: $5.1BSPG FY2022: $5.3BSPG FY2023: $5.7BSPG FY2024: $6BSPG FY2025: $6.4BFY18FY19FY20FY21FY22FY23FY24FY25
PLD $8.8BSPG $6.4B
Net income
PLD FY2018: $1.6BPLD FY2019: $1.6BPLD FY2020: $1.5BPLD FY2021: $2.9BPLD FY2022: $3.4BPLD FY2023: $3.1BPLD FY2024: $3.7BPLD FY2025: $3.3BSPG FY2018: $2.4BSPG FY2019: $2.1BSPG FY2020: $1.1BSPG FY2021: $2.2BSPG FY2022: $2.1BSPG FY2023: $2.3BSPG FY2024: $2.4BSPG FY2025: $4.6BFY18FY19FY20FY21FY22FY23FY24FY25
PLD $3.3BSPG $4.6B
Net margin
PLD FY2018: 58.8%PLD FY2019: 47.2%PLD FY2020: 33.4%PLD FY2021: 61.8%PLD FY2022: 56.3%PLD FY2023: 38.1%PLD FY2024: 45.5%PLD FY2025: 37.9%SPG FY2018: 43.2%SPG FY2019: 36.5%SPG FY2020: 24.1%SPG FY2021: 43.9%SPG FY2022: 40.4%SPG FY2023: 40.3%SPG FY2024: 39.7%SPG FY2025: 72.7%FY18FY19FY20FY21FY22FY23FY24FY25
PLD 37.9%SPG 72.7%
Revenue growth
PLD FY2019: +18.8%PLD FY2020: +33.3%PLD FY2021: +7.2%PLD FY2022: +25.5%PLD FY2023: +34.3%PLD FY2024: +2.2%PLD FY2025: +7.2%SPG FY2019: +1.9%SPG FY2020: -19.9%SPG FY2021: +11.1%SPG FY2022: +3.4%SPG FY2023: +6.9%SPG FY2024: +5.4%SPG FY2025: +6.7%FY19FY20FY21FY22FY23FY24FY25
PLD +7.2%SPG +6.7%
Free cash flow
PLD FY2018: $1.7BSPG FY2018: $3BSPG FY2019: $2.9BSPG FY2020: $1.8BSPG FY2021: $3.1BSPG FY2022: $3.1BSPG FY2023: $3.1BSPG FY2024: $3.1BSPG FY2025: $3.2BFY18FY19FY20FY21FY22FY23FY24FY25
PLD $1.7BSPG $3.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Prologis and Simon Property

Which is bigger by revenue, Prologis or Simon Property?

Prologis is bigger by revenue: $8.8B in fiscal 2025, against $6.4B for Simon Property in fiscal 2025.

Which keeps more of its revenue as profit, Prologis or Simon Property?

Prologis had a net margin of 37.9% in fiscal 2025; Simon Property had 72.7% in fiscal 2025.

Which grew revenue faster, Prologis or Simon Property?

In their latest fiscal years revenue changed by +7.2% at Prologis and +6.7% at Simon Property.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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