PLD Prologis
too hard · 56
Owner-earnings value$94.50
Price$126.45
Margin of safety
-25.3%
Quality gate · 56/100
⚠ sub-hurdle returns (median roic 5% < 9%) · over-levered (net debt/EBITDA 4.1x > 4x)
Median ROIC5.0%
Gross margin74.3%
Net debt / EBITDA4.0x
FCF conversion144%
Share count / yr+0.2%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 5.24B |
| Owner-earnings yield | 4.3% |
| Free-cash-flow yield | 4.3% |
| Growth used (normalized) | 10.0% |
| Market-implied growth (reverse DCF) | 17.5% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 10.9% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 5.77B | 10.0% | 5.20B |
| 2 | 6.30B | 9.2% | 5.12B |
| 3 | 6.83B | 8.4% | 5.00B |
| 4 | 7.35B | 7.7% | 4.85B |
| 5 | 7.86B | 6.9% | 4.67B |
| 6 | 8.34B | 6.1% | 4.47B |
| 7 | 8.78B | 5.3% | 4.25B |
| 8 | 9.18B | 4.6% | 4.00B |
| 9 | 9.53B | 3.8% | 3.74B |
| 10 | 9.82B | 3.0% | 3.47B |
⚠ owner earnings approximated by free cash flow · Price pays for ~17%/yr owner-earnings growth over 10y (reverse DCF); model credits 10%.