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Prologis vs Welltower: revenue, profit, margins and growth compared

Prologis brought in $8.8B of revenue in fiscal 2025, Welltower $10.8B in fiscal 2025. Revenue changed by +7.2% at Prologis and +35.6% at Welltower on the year before, so Welltower grew faster. Prologis kept 37.9% of its revenue as net profit, Welltower 8.6%.

Side by side, latest fiscal year

PLDWELL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$8.8B$10.8B
Revenue growth+7.2%+35.6%
Net income$3.3B$936.8M
Net margin37.9%8.6%
Free cash flown/a$1.8B
Free cash flow marginn/a16.9%
Earnings per share (diluted)$3.56$1.39
Cash$1.1B$5B
Debt$35B$19.2B
Price to earnings37.4166.4
Market value$126.1B$166.8B
Dividend yield0.02%1.22%
Rank by revenue in sector#4 of 195 · Real estate#1 of 195 · 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: $8.8BWELL FY2018: $4.7BWELL FY2019: $5.1BWELL FY2020: $4.6BWELL FY2021: $4.7BWELL FY2022: $5.9BWELL FY2023: $6.6BWELL FY2024: $8BWELL FY2025: $10.8BFY18FY19FY20FY21FY22FY23FY24FY25
PLD $8.8BWELL $10.8B
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: $3.3BWELL FY2018: $758.3MWELL FY2019: $1.2BWELL FY2020: $978.8MWELL FY2021: $336.1MWELL FY2022: $141.2MWELL FY2023: $340.1MWELL FY2024: $951.7MWELL FY2025: $936.8MFY18FY19FY20FY21FY22FY23FY24FY25
PLD $3.3BWELL $936.8M
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%WELL FY2018: 16.1%WELL FY2019: 24.1%WELL FY2020: 21.3%WELL FY2021: 7.1%WELL FY2022: 2.4%WELL FY2023: 5.1%WELL FY2024: 11.9%WELL FY2025: 8.6%FY18FY19FY20FY21FY22FY23FY24FY25
PLD 37.9%WELL 8.6%
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%WELL FY2019: +9.0%WELL FY2020: -10.1%WELL FY2021: +3.0%WELL FY2022: +23.6%WELL FY2023: +13.3%WELL FY2024: +20.4%WELL FY2025: +35.6%FY19FY20FY21FY22FY23FY24FY25
PLD +7.2%WELL +35.6%
Free cash flow
PLD FY2018: $1.7BWELL FY2018: $1.3BWELL FY2019: $1.2BWELL FY2020: $1.1BWELL FY2021: $992.7MWELL FY2022: $852.7MWELL FY2023: $1.1BWELL FY2024: $1.4BWELL FY2025: $1.8BFY18FY19FY20FY21FY22FY23FY24FY25
PLD $1.7BWELL $1.8B

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

Questions about Prologis and Welltower

Which is bigger by revenue, Prologis or Welltower?

Welltower is bigger by revenue: $10.8B in fiscal 2025, against $8.8B for Prologis in fiscal 2025.

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

Prologis had a net margin of 37.9% in fiscal 2025; Welltower had 8.6% in fiscal 2025.

Which grew revenue faster, Prologis or Welltower?

In their latest fiscal years revenue changed by +7.2% at Prologis and +35.6% at Welltower.

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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