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Side-by-side financial comparison of American Water Works (AWK) and Prologis (PLD). Click either name above to swap in a different company.

Prologis is the larger business by last-quarter revenue ($2.3B vs $1.3B, roughly 1.8× American Water Works). Prologis runs the higher net margin — 62.1% vs 18.7%, a 43.4% gap on every dollar of revenue. On growth, American Water Works posted the faster year-over-year revenue change (5.8% vs 2.4%). Over the past eight quarters, American Water Works's revenue compounded faster (12.6% CAGR vs 7.3%).

American Water Works Company, Inc., through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers...

Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prologis the largest industrial real estate company in the world. As of 2025, the company operates more than 15,000 land acres and over 6,000 buildings comprising about 1.

AWK vs PLD — Head-to-Head

Bigger by revenue
PLD
PLD
1.8× larger
PLD
$2.3B
$1.3B
AWK
Growing faster (revenue YoY)
AWK
AWK
+3.5% gap
AWK
5.8%
2.4%
PLD
Higher net margin
PLD
PLD
43.4% more per $
PLD
62.1%
18.7%
AWK
Faster 2-yr revenue CAGR
AWK
AWK
Annualised
AWK
12.6%
7.3%
PLD

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AWK
AWK
PLD
PLD
Revenue
$1.3B
$2.3B
Net Profit
$238.0M
$1.4B
Gross Margin
Operating Margin
31.9%
72.2%
Net Margin
18.7%
62.1%
Revenue YoY
5.8%
2.4%
Net Profit YoY
-0.4%
9.5%
EPS (diluted)
$1.22
$1.50

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AWK
AWK
PLD
PLD
Q4 25
$1.3B
$2.3B
Q3 25
$1.5B
$2.2B
Q2 25
$1.3B
$2.2B
Q1 25
$1.1B
$2.1B
Q4 24
$1.2B
$2.2B
Q3 24
$1.3B
$2.0B
Q2 24
$1.1B
$2.0B
Q1 24
$1.0B
$2.0B
Net Profit
AWK
AWK
PLD
PLD
Q4 25
$238.0M
$1.4B
Q3 25
$379.0M
$764.3M
Q2 25
$289.0M
$571.2M
Q1 25
$205.0M
$593.0M
Q4 24
$239.0M
$1.3B
Q3 24
$350.0M
$1.0B
Q2 24
$277.0M
$861.3M
Q1 24
$185.0M
$585.7M
Operating Margin
AWK
AWK
PLD
PLD
Q4 25
31.9%
72.2%
Q3 25
42.2%
42.5%
Q2 25
38.4%
41.8%
Q1 25
32.7%
41.1%
Q4 24
33.3%
64.6%
Q3 24
40.9%
61.4%
Q2 24
39.4%
51.0%
Q1 24
32.5%
36.8%
Net Margin
AWK
AWK
PLD
PLD
Q4 25
18.7%
62.1%
Q3 25
26.1%
34.5%
Q2 25
22.7%
26.2%
Q1 25
18.1%
27.7%
Q4 24
19.9%
58.1%
Q3 24
26.4%
49.4%
Q2 24
24.3%
42.9%
Q1 24
18.4%
29.9%
EPS (diluted)
AWK
AWK
PLD
PLD
Q4 25
$1.22
$1.50
Q3 25
$1.94
$0.82
Q2 25
$1.48
$0.61
Q1 25
$1.05
$0.63
Q4 24
$1.22
$1.38
Q3 24
$1.80
$1.08
Q2 24
$1.42
$0.92
Q1 24
$0.95
$0.63

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AWK
AWK
PLD
PLD
Cash + ST InvestmentsLiquidity on hand
$98.0M
$1.1B
Total DebtLower is stronger
$12.8B
$35.0B
Stockholders' EquityBook value
$10.8B
$53.2B
Total Assets
$35.4B
$98.7B
Debt / EquityLower = less leverage
1.18×
0.66×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AWK
AWK
PLD
PLD
Q4 25
$98.0M
$1.1B
Q3 25
$166.0M
$1.2B
Q2 25
$94.0M
$1.1B
Q1 25
$114.0M
$671.1M
Q4 24
$96.0M
$1.3B
Q3 24
$127.0M
$780.9M
Q2 24
$48.0M
$598.3M
Q1 24
$584.0M
$500.6M
Total Debt
AWK
AWK
PLD
PLD
Q4 25
$12.8B
$35.0B
Q3 25
$13.0B
$35.3B
Q2 25
$12.3B
$34.7B
Q1 25
$13.3B
$32.3B
Q4 24
$12.5B
$30.9B
Q3 24
$12.6B
$32.3B
Q2 24
$12.6B
$29.9B
Q1 24
$12.6B
$29.6B
Stockholders' Equity
AWK
AWK
PLD
PLD
Q4 25
$10.8B
$53.2B
Q3 25
$10.9B
$52.6B
Q2 25
$10.7B
$52.7B
Q1 25
$10.5B
$53.5B
Q4 24
$10.3B
$54.0B
Q3 24
$10.4B
$53.1B
Q2 24
$10.2B
$53.3B
Q1 24
$10.0B
$53.2B
Total Assets
AWK
AWK
PLD
PLD
Q4 25
$35.4B
$98.7B
Q3 25
$34.7B
$98.3B
Q2 25
$33.9B
$97.7B
Q1 25
$33.2B
$96.0B
Q4 24
$32.8B
$95.3B
Q3 24
$31.8B
$95.9B
Q2 24
$31.2B
$93.5B
Q1 24
$31.1B
$93.3B
Debt / Equity
AWK
AWK
PLD
PLD
Q4 25
1.18×
0.66×
Q3 25
1.19×
0.67×
Q2 25
1.15×
0.66×
Q1 25
1.26×
0.60×
Q4 24
1.21×
0.57×
Q3 24
1.21×
0.61×
Q2 24
1.24×
0.56×
Q1 24
1.26×
0.56×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AWK
AWK
PLD
PLD
Operating Cash FlowLast quarter
$663.0M
$1.2B
Free Cash FlowOCF − Capex
$-385.0M
FCF MarginFCF / Revenue
-30.3%
Capex IntensityCapex / Revenue
82.5%
Cash ConversionOCF / Net Profit
2.79×
0.83×
TTM Free Cash FlowTrailing 4 quarters
$-1.1B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AWK
AWK
PLD
PLD
Q4 25
$663.0M
$1.2B
Q3 25
$764.0M
$1.4B
Q2 25
$301.0M
$1.2B
Q1 25
$331.0M
$1.2B
Q4 24
$639.0M
$1.3B
Q3 24
$679.0M
$1.4B
Q2 24
$345.0M
$1.1B
Q1 24
$382.0M
$1.1B
Free Cash Flow
AWK
AWK
PLD
PLD
Q4 25
$-385.0M
Q3 25
$-33.0M
Q2 25
$-432.0M
Q1 25
$-217.0M
Q4 24
$-255.0M
Q3 24
$-4.0M
Q2 24
$-325.0M
Q1 24
$-227.0M
FCF Margin
AWK
AWK
PLD
PLD
Q4 25
-30.3%
Q3 25
-2.3%
Q2 25
-34.0%
Q1 25
-19.1%
Q4 24
-21.2%
Q3 24
-0.3%
Q2 24
-28.5%
Q1 24
-22.6%
Capex Intensity
AWK
AWK
PLD
PLD
Q4 25
82.5%
Q3 25
54.8%
Q2 25
57.6%
Q1 25
48.3%
Q4 24
74.4%
Q3 24
51.4%
Q2 24
58.8%
Q1 24
60.7%
Cash Conversion
AWK
AWK
PLD
PLD
Q4 25
2.79×
0.83×
Q3 25
2.02×
1.89×
Q2 25
1.04×
2.17×
Q1 25
1.61×
1.96×
Q4 24
2.67×
1.04×
Q3 24
1.94×
1.43×
Q2 24
1.25×
1.26×
Q1 24
2.06×
1.80×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AWK
AWK

Water Services$1.0B81%
Other$127.0M10%
Wastewater Services$101.0M8%
Miscellaneous Utility Charge$11.0M1%

PLD
PLD

Real Estate Operations Segment$2.0B88%
Unconsolidated Co Investment Ventures$131.7M6%
Other$82.6M4%
Strategic Capital Segment$49.9M2%

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