Digital Realty Trust, Inc. (DLR) vs Prologis, Inc. (PLD)
A side-by-side comparison of Digital Realty Trust, Inc. and Prologis, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — DLR vs PLD
growth of $100 · dividends reinvested · last 10yDLR vs PLD: by the numbers
- •PLD is the larger company ($125.75B vs $65.99B market cap).
- •PLD converts more revenue to profit (45.79% vs 11.67% net margin).
- •PLD grew revenue faster over the past five years (15.39% vs 9.91% CAGR).
- •PLD pays the higher dividend yield (3.06% vs 2.59%).
Metrics side by side
Valuation
| Metric | DLR | PLD |
|---|---|---|
| P/E ratio | 86.17 | 30.02 |
| Forward P/E | 65.86 | 36.99 |
| P/S ratio | 9.64 | 13.68 |
| P/B ratio | 2.41 | 2.34 |
| EV / EBITDA | 25.58 | 25.59 |
| FCF yield | 2.07% | 3.93% |
For REITs like Digital Realty Trust, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Prologis, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | DLR | PLD |
|---|---|---|
| Gross margin | 55.39% | 59.60% |
| Operating margin | 17.87% | 38.43% |
| Net margin | 11.67% | 45.79% |
| ROE | 2.91% | 7.83% |
| ROIC | 2.25% | 3.37% |
Dividends
| Metric | DLR | PLD |
|---|---|---|
| Dividend yield | 2.59% | 3.06% |
| Payout ratio | 235.75% | 92.65% |
Digital Realty Trust, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Prologis, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | DLR | PLD |
|---|---|---|
| Revenue CAGR (5Y) | 9.91% | 15.39% |
| EPS CAGR (5Y) | 29.87% | 12.63% |
| FCF CAGR (5Y) | 12.36% | 12.28% |
| Total return CAGR (5Y) | 7.57% | 3.26% |
Frequently asked
- Which has grown faster, DLR or PLD?
- Over the past five years, PLD grew revenue faster — DLR at a 9.91% CAGR versus PLD at 15.39%.
- Does DLR or PLD pay a bigger dividend?
- DLR yields 2.59% and PLD yields 3.06% based on trailing dividends and the latest price.
- Is DLR or PLD more profitable?
- PLD runs the higher net margin — DLR at 11.67% versus PLD at 45.79%.
- How have DLR and PLD total returns compared?
- Over the past 10 years, DLR delivered 10.69% and PLD delivered 13.34% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Digital Realty Trust & Prologis appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.