Is Prologis, Inc. overvalued or undervalued?

As of 31 October 2025, the valuation grade for Prologis, Inc. moved from very expensive to expensive, indicating a slight improvement in its valuation outlook. The company appears to be overvalued based on key metrics, including a P/E ratio of 28, an EV to EBITDA of 17.07, and a Price to Book Value of 1.93. In comparison, peers such as Simon Property Group, Inc. have a P/E ratio of 33.41 and Digital Realty Trust, Inc. has an EV to EBITDA of 19.33, suggesting that Prologis is trading at a premium relative to some of its competitors.
While Prologis has shown a year-to-date return of 17.40%, it still lags behind the S&P 500's return of 16.30% in the same period. Additionally, over the last five years, Prologis has returned 25.09%, significantly lower than the S&P 500's impressive 109.18% return, reinforcing the notion that the stock may not be a compelling investment at its current valuation.