Realty Income Corporation (O) vs Prologis, Inc. (PLD)
A side-by-side comparison of Realty Income Corporation 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 — O vs PLD
growth of $100 · dividends reinvested · last 10yO vs PLD: by the numbers
- •PLD is the larger company ($125.75B vs $55.12B market cap).
- •O pays the higher dividend yield (5.45% vs 3.06%).
Metrics side by side
Valuation
| Metric | O | PLD |
|---|---|---|
| P/E ratio | 43.15 | 30.02 |
| Forward P/E | 38.87 | 36.99 |
| P/S ratio | N/A | 13.68 |
| P/B ratio | 1.39 | 2.34 |
| EV / EBITDA | N/A | 25.59 |
| FCF yield | 3.96% | 3.93% |
For REITs like Realty Income Corporation, 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 | O | PLD |
|---|---|---|
| Gross margin | N/A | 59.60% |
| Operating margin | N/A | 38.43% |
| Net margin | N/A | 45.79% |
| ROE | N/A | 7.83% |
| ROIC | N/A | 3.37% |
Dividends
| Metric | O | PLD |
|---|---|---|
| Dividend yield | 5.45% | 3.06% |
| Payout ratio | 236.57% | 92.65% |
Realty Income Corporation'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 | O | PLD |
|---|---|---|
| Revenue CAGR (5Y) | N/A | 15.39% |
| EPS CAGR (5Y) | 0.35% | 12.63% |
| FCF CAGR (5Y) | 13.20% | 12.28% |
| Total return CAGR (5Y) | 3.29% | 3.26% |
Frequently asked
- Does O or PLD pay a bigger dividend?
- O yields 5.45% and PLD yields 3.06% based on trailing dividends and the latest price.
- How have O and PLD total returns compared?
- Over the past 10 years, O delivered 4.44% and PLD delivered 13.34% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Realty Income & 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.