Simon Property Group, Inc. (SPG) 10-Year Financial Performance & Capital Metrics

SPG • • REIT / Real Estate

Real EstateRetail REITsMalls and Outlet Centers

AboutSimon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.Show more

Revenue $6.36B +6.7%
FFO $6.1B +63.4%
FFO/Share 18.70 +63.5%
FFO Payout 0% -100.0%
FFO per Share 18.70 +63.5%
NOI Margin 85.72% +3.9%
FFO Margin 95.81% +53.2%
ROE 89.57% +37.6%
ROA 12.64% +77.8%
Debt/Assets 73.74% -3.6%
Net Debt/EBITDA 6.25 +19.0%
Book Value/Share 20.57 +86.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 71.8%
✓Strong 5Y profit CAGR of 32.9%
✓FFO growing 63.4% TTM
✓High NOI margin of 85.7%
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 4.5x

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.91%

5Y6.67%

3Y6.35%

TTM6.72%

Profit (Net Income) CAGR

10Y9.7%

5Y32.91%

3Y29.21%

TTM94.65%

EPS CAGR

10Y9.17%

5Y31.54%

3Y29.44%

TTM94.77%

ROCE

10Y Avg9.22%

5Y Avg9.04%

3Y Avg9.57%

Latest9.12%

Peer Comparison

Malls and Outlet Centers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SKTTanger Inc.	4.27B	37.06	42.11	13.28%	19.18%	14.72%	3.67%	2.22
SPGSimon Property Group, Inc.	66.3B	203.85	14.42	6.72%	72.51%	68.82%		4.47
CBLCBL & Associates Properties, Inc.	1.15B	37.78	8.71	12.18%	23.31%	36.97%	6.27%	5.95
MACThe Macerich Company	5.25B	20.47	-26.24	10.43%	-19.44%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	5.44B	5.53B	5.65B	5.76B	4.61B	5.12B	5.29B	5.66B	5.96B	6.36B
Revenue Growth %	3.21%	1.69%	2.13%	1.95%	-19.94%	11.05%	3.41%	6.94%	5.39%	6.72%
Property Operating Expenses	971.15M	980.08M	1.01B	1.02B	887.15M	971.06M	1B	1.03B	1.04B	909.14M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	1.74B	1.74B	1.71B	1.82B	1.75B	1.73B	1.71B	1.82B	1.83B	2.28B
G&A Expenses	207.88M	202.84M	197.78M	185.2M	121.19M	144.64M	142.76M	165.86M	189.29M	281.55M
EBITDA+	4.05B	4.16B	4.28B	4.31B	3.33B	3.74B	3.88B	4.14B	4.45B	4.66B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	1.33B	1.36B	1.35B	1.39B	1.35B	1.33B	1.29B	1.33B	1.36B	1.48B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	2.72B	2.8B	2.93B	2.91B	1.97B	2.41B	2.58B	2.81B	3.09B	3.18B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	857.55M	809.39M	815.92M	789.35M	784.4M	795.71M	761.25M	854.65M	905.8M	974.84M
Interest Coverage	3.17x	3.46x	3.59x	3.69x	2.51x	3.03x	3.39x	3.28x	3.41x	3.26x
Non-Operating Income	-301.11M	-275.3M	-748.87M	-329.81M	-85.28M	-1.11B	-713.6M	-746.52M	-565.28M	-3.12B
Pretax Income+	2.16B	2.27B	2.86B	2.45B	1.27B	2.73B	2.54B	2.7B	2.75B	5.4B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	29.68M	23.34M	36.9M	30.05M	-4.64M	157.2M	83.51M	81.87M	23.26M	35.79M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.84B	1.95B	2.44B	2.1B	1.11B	2.25B	2.14B	2.28B	2.37B	4.61B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.61%	5.93%	25.26%	-13.87%	-47.06%	102.2%	-4.89%	6.71%	3.84%	94.65%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	3.26%	4.37%	14.66%	-7.76%	-29.41%	44.9%	-4.02%	5.39%	3.15%	63.44%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	5.87	6.24	7.88	6.79	3.59	6.84	6.52	6.98	7.26	14.14
EPS Growth %	-0.17%	6.3%	26.28%	-13.83%	-47.13%	90.53%	-4.68%	7.06%	4.01%	94.77%
EPS (Basic)	5.87	6.24	7.88	6.79	3.59	6.84	6.52	6.97	7.26	14.14
Diluted Shares Outstanding	312.69M	311.52M	309.63M	307.95M	308.74M	328.59M	327.82M	326.81M	326.1M	326.02M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	31.1B	32.26B	30.69B	31.23B	34.79B	33.78B	33.01B	34.28B	32.41B	40.61B
Asset Growth %	1.48%	3.71%	-4.87%	1.78%	11.38%	-2.9%	-2.27%	3.85%	-5.48%	25.31%
Real Estate & Other Assets+	-30.04B	-31.09B	-29.63B	24.11B	23.33B	22.42B	21.86B	21.65B	21.28B	-755.93M
PP&E (Net)	24.36B	24.46B	24.21B	514.66M	512.91M	504.12M	496.93M	484.07M	519.61M	755.93M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Total Current Assets+	1.22B	2.22B	1.28B	1.99B	2.71B	2.34B	2.11B	3.59B	2.83B	0
Cash & Equivalents	560.06M	1.48B	514.34M	669.37M	1.01B	533.94M	621.63M	1.17B	1.4B	823.15M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Assets	0	0	0	-492.58M	-465.79M	-193.17M	-662.33M	0	0	-823.15M
Intangible Assets	265.04M	188.46M	130.64M	75.75M	34.96M	33.28M	17.77M	8.71M	2.75M	0
Total Liabilities	26.01B	27.83B	26.66B	28.1B	31.13B	29.38B	29.19B	30.6B	28.81B	33.9B
Total Debt+	22.98B	24.63B	23.31B	24.68B	27.24B	25.83B	25.46B	26.52B	24.78B	29.94B
Net Debt	22.42B	23.15B	22.79B	24.01B	26.23B	25.29B	24.84B	25.35B	23.38B	29.12B
Long-Term Debt	22.02B	23.59B	22.48B	22.77B	26.04B	24.76B	24.9B	25.97B	24.21B	29.19B
Short-Term Borrowings	953.66M	978.47M	758.68M	1.33B	623.02M	500M	0	0	0	0
Capital Lease Obligations	0	68.42M	67.25M	584.06M	580.26M	570.38M	561.4M	545.46M	579.35M	756.54M
Total Current Liabilities+	2.57B	2.68B	2.85B	4.28B	4B	3.51B	3.19B	3.46B	3.4B	2.72M
Accounts Payable	1.21B	1.27B	1.32B	1.39B	1.31B	1.43B	1.49B	1.69B	1.71B	0
Deferred Revenue	-953.66M	-978.47M	-758.68M	0	0	0	0	0	0	0
Other Liabilities	455.04M	520.36M	500.6M	464.3M	513.51M	540.91M	535.74M	621.6M	626.15M	-29.94B
Total Equity+	5.1B	4.43B	4.03B	3.13B	3.66B	4.4B	3.82B	3.69B	3.6B	6.71B
Equity Growth %	-2.75%	-13.11%	-9.08%	-22.27%	16.86%	20.3%	-13.11%	-3.56%	-2.39%	86.29%
Shareholders Equity	4.31B	3.69B	3.3B	2.53B	3.04B	3.36B	3.14B	3.02B	2.94B	5.21B
Minority Interest	787.23M	743.08M	730.44M	603.91M	618.77M	1.04B	685.37M	664.76M	657.53M	1.5B
Common Stock	32K	32K	32K	32K	34K	34K	34K	33K	33K	33K
Additional Paid-in Capital	9.52B	9.61B	9.7B	9.76B	11.18B	11.21B	11.23B	11.41B	11.58B	12.35B
Retained Earnings	-4.46B	-4.78B	-4.89B	-5.38B	-6.1B	-5.82B	-5.93B	-6.1B	-6.38B	-4.61B
Preferred Stock	43.41M	43.08M	42.75M	42.42M	42.09M	41.76M	41.44M	41.11M	40.78M	40.45M
Return on Assets (ROA)	5.96%	6.15%	7.75%	6.79%	3.37%	6.56%	6.41%	6.79%	7.11%	12.64%
Return on Equity (ROE)	35.57%	40.89%	57.71%	58.72%	32.78%	55.83%	52.03%	60.79%	65.07%	89.57%
Debt / Assets	73.87%	76.36%	75.95%	79.02%	78.3%	76.47%	77.12%	77.35%	76.48%	73.74%
Debt / Equity	4.51x	5.56x	5.79x	7.88x	7.45x	5.87x	6.66x	7.19x	6.89x	4.47x
Net Debt / EBITDA	5.54x	5.57x	5.33x	5.57x	7.88x	6.76x	6.41x	6.12x	5.25x	6.25x
Book Value per Share	16.30	14.22	13.01	10.16	11.85	13.39	11.66	11.28	11.04	20.57

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	3.37B	3.59B	3.75B	3.81B	2.33B	3.64B	3.77B	3.93B	3.81B	0
Operating CF Growth %	11.51%	6.56%	4.37%	1.52%	-38.9%	56.33%	3.55%	4.36%	-2.95%	-100%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.84B	1.95B	2.44B	2.42B	1.28B	2.57B	2.45B	2.28B	2.73B	4.63B
Depreciation & Amortization	1.36B	1.36B	1.35B	1.39B	1.35B	1.33B	1.29B	1.26B	1.36B	0
Stock-Based Compensation	40.1M	23M	0	26.8M	1.9M	24.8M	24.7M	0	0	82.54M
Other Non-Cash Items	239.57M	324.66M	-30.39M	26.87M	119.41M	-648.93M	-126.78M	127.43M	-201.75M	-4.71B
Working Capital Changes	-105.31M	-59.18M	-8.65M	-36.4M	-425.02M	391.73M	148.89M	258.13M	-72.48M	0
Cash from Investing+	-969.03M	-761.47M	-236.51M	-1.08B	-3.98B	-552.76M	-626.56M	-1.36B	1.41B	0
Acquisitions (Net)	-812.14M	-421.66M	-114.46M	-76.59M	-3.8B	-313.98M	-439.16M	-149.79M	-168.76M	0
Purchase of Investments	-38.81M	-25M	-21.56M	-374.23M	-32.95M	-33.6M	-66.14M	-1.03B	-841.19M	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Investing	637.78M	361.03M	656.42M	-625.89M	306.74M	257.25M	502.67M	307.5M	390.32M	0
Cash from Financing+	-2.54B	-1.91B	-4.48B	-2.58B	1.99B	-3.56B	-3.05B	-2.02B	-4.99B	0
Dividends Paid	-2.04B	-2.23B	-2.45B	-2.56B	-1.45B	-2.35B	-2.26B	-2.44B	-2.65B	0
Common Dividends	-2.04B	-2.23B	-2.45B	-2.56B	-1.44B	-337.02M	-326.55M	-2.44B	-2.65B	0
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	0
Share Repurchases	-259.89M	-410.12M	-438.85M	-369.9M	-169.55M	-2.32M	-515.9M	-518.29M	-10.56M	0
Other Financing	-461.76M	-351.76M	-531.21M	-539.02M	-227.15M	-382.64M	-328.7M	-34.04M	-462.11M	0
Net Change in Cash+	-141.07M	922.25M	-967.97M	155.04M	342.24M	-477.68M	87.69M	547.36M	231.35M	-577.2M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	-1000K
Cash at Beginning	701.13M	560.06M	1.48B	514.34M	669.37M	1.01B	533.94M	621.63M	1.17B	1.4B
Cash at End	560.06M	1.48B	514.34M	669.37M	1.01B	533.94M	621.63M	1.17B	1.4B	823.15M
Free Cash Flow+	2.57B	2.86B	2.97B	2.93B	1.84B	3.11B	3.12B	3.14B	3.06B	0
FCF Growth %	28.47%	11.17%	3.75%	-1.25%	-37.15%	68.76%	0.23%	0.67%	-2.5%	-100%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	10.13	10.61	12.24	11.35	7.99	10.88	10.47	11.07	11.44	18.7
FFO Payout Ratio	64.34%	67.51%	64.62%	73.2%	58.49%	9.43%	9.52%	67.44%	70.9%	0%
NOI Margin	82.13%	82.27%	82.14%	82.25%	80.75%	81.02%	81.08%	81.83%	82.5%	85.72%
Net Debt / EBITDA	5.54x	5.57x	5.33x	5.57x	7.88x	6.76x	6.41x	6.12x	5.25x	6.25x
Debt / Assets	73.87%	76.36%	75.95%	79.02%	78.3%	76.47%	77.12%	77.35%	76.48%	73.74%
Interest Coverage	3.17x	3.46x	3.59x	3.69x	2.51x	3.03x	3.39x	3.28x	3.41x	3.26x
Book Value / Share	16.3	14.22	13.01	10.16	11.85	13.39	11.66	11.28	11.04	20.57
Revenue Growth	3.21%	1.69%	2.13%	1.95%	-19.94%	11.05%	3.41%	6.94%	5.39%	6.72%

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Simon Property Group, Inc. (SPG) 10-Year Financial Performance & Capital Metrics

SPG • • REIT / Real Estate

Real EstateRetail REITsMalls and Outlet Centers

Revenue $6.36B +6.7%
FFO $6.1B +63.4%
FFO/Share 18.70 +63.5%
FFO Payout 0% -100.0%
FFO per Share 18.70 +63.5%
NOI Margin 85.72% +3.9%
FFO Margin 95.81% +53.2%
ROE 89.57% +37.6%
ROA 12.64% +77.8%
Debt/Assets 73.74% -3.6%
Net Debt/EBITDA 6.25 +19.0%
Book Value/Share 20.57 +86.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 71.8%
✓Strong 5Y profit CAGR of 32.9%
✓FFO growing 63.4% TTM
✓High NOI margin of 85.7%
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 4.5x

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.91%

5Y6.67%

3Y6.35%

TTM6.72%

Profit (Net Income) CAGR

10Y9.7%

5Y32.91%

3Y29.21%

TTM94.65%

EPS CAGR

10Y9.17%

5Y31.54%

3Y29.44%

TTM94.77%

ROCE

10Y Avg9.22%

5Y Avg9.04%

3Y Avg9.57%

Latest9.12%

Peer Comparison

Malls and Outlet Centers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SKTTanger Inc.	4.27B	37.06	42.11	13.28%	19.18%	14.72%	3.67%	2.22
SPGSimon Property Group, Inc.	66.3B	203.85	14.42	6.72%	72.51%	68.82%		4.47
CBLCBL & Associates Properties, Inc.	1.15B	37.78	8.71	12.18%	23.31%	36.97%	6.27%	5.95
MACThe Macerich Company	5.25B	20.47	-26.24	10.43%	-19.44%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	5.44B	5.53B	5.65B	5.76B	4.61B	5.12B	5.29B	5.66B	5.96B	6.36B
Revenue Growth %	3.21%	1.69%	2.13%	1.95%	-19.94%	11.05%	3.41%	6.94%	5.39%	6.72%
Property Operating Expenses	971.15M	980.08M	1.01B	1.02B	887.15M	971.06M	1B	1.03B	1.04B	909.14M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	1.74B	1.74B	1.71B	1.82B	1.75B	1.73B	1.71B	1.82B	1.83B	2.28B
G&A Expenses	207.88M	202.84M	197.78M	185.2M	121.19M	144.64M	142.76M	165.86M	189.29M	281.55M
EBITDA+	4.05B	4.16B	4.28B	4.31B	3.33B	3.74B	3.88B	4.14B	4.45B	4.66B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	1.33B	1.36B	1.35B	1.39B	1.35B	1.33B	1.29B	1.33B	1.36B	1.48B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	2.72B	2.8B	2.93B	2.91B	1.97B	2.41B	2.58B	2.81B	3.09B	3.18B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	857.55M	809.39M	815.92M	789.35M	784.4M	795.71M	761.25M	854.65M	905.8M	974.84M
Interest Coverage	3.17x	3.46x	3.59x	3.69x	2.51x	3.03x	3.39x	3.28x	3.41x	3.26x
Non-Operating Income	-301.11M	-275.3M	-748.87M	-329.81M	-85.28M	-1.11B	-713.6M	-746.52M	-565.28M	-3.12B
Pretax Income+	2.16B	2.27B	2.86B	2.45B	1.27B	2.73B	2.54B	2.7B	2.75B	5.4B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	29.68M	23.34M	36.9M	30.05M	-4.64M	157.2M	83.51M	81.87M	23.26M	35.79M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.84B	1.95B	2.44B	2.1B	1.11B	2.25B	2.14B	2.28B	2.37B	4.61B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.61%	5.93%	25.26%	-13.87%	-47.06%	102.2%	-4.89%	6.71%	3.84%	94.65%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	3.26%	4.37%	14.66%	-7.76%	-29.41%	44.9%	-4.02%	5.39%	3.15%	63.44%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	5.87	6.24	7.88	6.79	3.59	6.84	6.52	6.98	7.26	14.14
EPS Growth %	-0.17%	6.3%	26.28%	-13.83%	-47.13%	90.53%	-4.68%	7.06%	4.01%	94.77%
EPS (Basic)	5.87	6.24	7.88	6.79	3.59	6.84	6.52	6.97	7.26	14.14
Diluted Shares Outstanding	312.69M	311.52M	309.63M	307.95M	308.74M	328.59M	327.82M	326.81M	326.1M	326.02M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	31.1B	32.26B	30.69B	31.23B	34.79B	33.78B	33.01B	34.28B	32.41B	40.61B
Asset Growth %	1.48%	3.71%	-4.87%	1.78%	11.38%	-2.9%	-2.27%	3.85%	-5.48%	25.31%
Real Estate & Other Assets+	-30.04B	-31.09B	-29.63B	24.11B	23.33B	22.42B	21.86B	21.65B	21.28B	-755.93M
PP&E (Net)	24.36B	24.46B	24.21B	514.66M	512.91M	504.12M	496.93M	484.07M	519.61M	755.93M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Total Current Assets+	1.22B	2.22B	1.28B	1.99B	2.71B	2.34B	2.11B	3.59B	2.83B	0
Cash & Equivalents	560.06M	1.48B	514.34M	669.37M	1.01B	533.94M	621.63M	1.17B	1.4B	823.15M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Assets	0	0	0	-492.58M	-465.79M	-193.17M	-662.33M	0	0	-823.15M
Intangible Assets	265.04M	188.46M	130.64M	75.75M	34.96M	33.28M	17.77M	8.71M	2.75M	0
Total Liabilities	26.01B	27.83B	26.66B	28.1B	31.13B	29.38B	29.19B	30.6B	28.81B	33.9B
Total Debt+	22.98B	24.63B	23.31B	24.68B	27.24B	25.83B	25.46B	26.52B	24.78B	29.94B
Net Debt	22.42B	23.15B	22.79B	24.01B	26.23B	25.29B	24.84B	25.35B	23.38B	29.12B
Long-Term Debt	22.02B	23.59B	22.48B	22.77B	26.04B	24.76B	24.9B	25.97B	24.21B	29.19B
Short-Term Borrowings	953.66M	978.47M	758.68M	1.33B	623.02M	500M	0	0	0	0
Capital Lease Obligations	0	68.42M	67.25M	584.06M	580.26M	570.38M	561.4M	545.46M	579.35M	756.54M
Total Current Liabilities+	2.57B	2.68B	2.85B	4.28B	4B	3.51B	3.19B	3.46B	3.4B	2.72M
Accounts Payable	1.21B	1.27B	1.32B	1.39B	1.31B	1.43B	1.49B	1.69B	1.71B	0
Deferred Revenue	-953.66M	-978.47M	-758.68M	0	0	0	0	0	0	0
Other Liabilities	455.04M	520.36M	500.6M	464.3M	513.51M	540.91M	535.74M	621.6M	626.15M	-29.94B
Total Equity+	5.1B	4.43B	4.03B	3.13B	3.66B	4.4B	3.82B	3.69B	3.6B	6.71B
Equity Growth %	-2.75%	-13.11%	-9.08%	-22.27%	16.86%	20.3%	-13.11%	-3.56%	-2.39%	86.29%
Shareholders Equity	4.31B	3.69B	3.3B	2.53B	3.04B	3.36B	3.14B	3.02B	2.94B	5.21B
Minority Interest	787.23M	743.08M	730.44M	603.91M	618.77M	1.04B	685.37M	664.76M	657.53M	1.5B
Common Stock	32K	32K	32K	32K	34K	34K	34K	33K	33K	33K
Additional Paid-in Capital	9.52B	9.61B	9.7B	9.76B	11.18B	11.21B	11.23B	11.41B	11.58B	12.35B
Retained Earnings	-4.46B	-4.78B	-4.89B	-5.38B	-6.1B	-5.82B	-5.93B	-6.1B	-6.38B	-4.61B
Preferred Stock	43.41M	43.08M	42.75M	42.42M	42.09M	41.76M	41.44M	41.11M	40.78M	40.45M
Return on Assets (ROA)	5.96%	6.15%	7.75%	6.79%	3.37%	6.56%	6.41%	6.79%	7.11%	12.64%
Return on Equity (ROE)	35.57%	40.89%	57.71%	58.72%	32.78%	55.83%	52.03%	60.79%	65.07%	89.57%
Debt / Assets	73.87%	76.36%	75.95%	79.02%	78.3%	76.47%	77.12%	77.35%	76.48%	73.74%
Debt / Equity	4.51x	5.56x	5.79x	7.88x	7.45x	5.87x	6.66x	7.19x	6.89x	4.47x
Net Debt / EBITDA	5.54x	5.57x	5.33x	5.57x	7.88x	6.76x	6.41x	6.12x	5.25x	6.25x
Book Value per Share	16.30	14.22	13.01	10.16	11.85	13.39	11.66	11.28	11.04	20.57

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	3.37B	3.59B	3.75B	3.81B	2.33B	3.64B	3.77B	3.93B	3.81B	0
Operating CF Growth %	11.51%	6.56%	4.37%	1.52%	-38.9%	56.33%	3.55%	4.36%	-2.95%	-100%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.84B	1.95B	2.44B	2.42B	1.28B	2.57B	2.45B	2.28B	2.73B	4.63B
Depreciation & Amortization	1.36B	1.36B	1.35B	1.39B	1.35B	1.33B	1.29B	1.26B	1.36B	0
Stock-Based Compensation	40.1M	23M	0	26.8M	1.9M	24.8M	24.7M	0	0	82.54M
Other Non-Cash Items	239.57M	324.66M	-30.39M	26.87M	119.41M	-648.93M	-126.78M	127.43M	-201.75M	-4.71B
Working Capital Changes	-105.31M	-59.18M	-8.65M	-36.4M	-425.02M	391.73M	148.89M	258.13M	-72.48M	0
Cash from Investing+	-969.03M	-761.47M	-236.51M	-1.08B	-3.98B	-552.76M	-626.56M	-1.36B	1.41B	0
Acquisitions (Net)	-812.14M	-421.66M	-114.46M	-76.59M	-3.8B	-313.98M	-439.16M	-149.79M	-168.76M	0
Purchase of Investments	-38.81M	-25M	-21.56M	-374.23M	-32.95M	-33.6M	-66.14M	-1.03B	-841.19M	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Investing	637.78M	361.03M	656.42M	-625.89M	306.74M	257.25M	502.67M	307.5M	390.32M	0
Cash from Financing+	-2.54B	-1.91B	-4.48B	-2.58B	1.99B	-3.56B	-3.05B	-2.02B	-4.99B	0
Dividends Paid	-2.04B	-2.23B	-2.45B	-2.56B	-1.45B	-2.35B	-2.26B	-2.44B	-2.65B	0
Common Dividends	-2.04B	-2.23B	-2.45B	-2.56B	-1.44B	-337.02M	-326.55M	-2.44B	-2.65B	0
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	0
Share Repurchases	-259.89M	-410.12M	-438.85M	-369.9M	-169.55M	-2.32M	-515.9M	-518.29M	-10.56M	0
Other Financing	-461.76M	-351.76M	-531.21M	-539.02M	-227.15M	-382.64M	-328.7M	-34.04M	-462.11M	0
Net Change in Cash+	-141.07M	922.25M	-967.97M	155.04M	342.24M	-477.68M	87.69M	547.36M	231.35M	-577.2M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	-1000K
Cash at Beginning	701.13M	560.06M	1.48B	514.34M	669.37M	1.01B	533.94M	621.63M	1.17B	1.4B
Cash at End	560.06M	1.48B	514.34M	669.37M	1.01B	533.94M	621.63M	1.17B	1.4B	823.15M
Free Cash Flow+	2.57B	2.86B	2.97B	2.93B	1.84B	3.11B	3.12B	3.14B	3.06B	0
FCF Growth %	28.47%	11.17%	3.75%	-1.25%	-37.15%	68.76%	0.23%	0.67%	-2.5%	-100%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	10.13	10.61	12.24	11.35	7.99	10.88	10.47	11.07	11.44	18.7
FFO Payout Ratio	64.34%	67.51%	64.62%	73.2%	58.49%	9.43%	9.52%	67.44%	70.9%	0%
NOI Margin	82.13%	82.27%	82.14%	82.25%	80.75%	81.02%	81.08%	81.83%	82.5%	85.72%
Net Debt / EBITDA	5.54x	5.57x	5.33x	5.57x	7.88x	6.76x	6.41x	6.12x	5.25x	6.25x
Debt / Assets	73.87%	76.36%	75.95%	79.02%	78.3%	76.47%	77.12%	77.35%	76.48%	73.74%
Interest Coverage	3.17x	3.46x	3.59x	3.69x	2.51x	3.03x	3.39x	3.28x	3.41x	3.26x
Book Value / Share	16.3	14.22	13.01	10.16	11.85	13.39	11.66	11.28	11.04	20.57
Revenue Growth	3.21%	1.69%	2.13%	1.95%	-19.94%	11.05%	3.41%	6.94%	5.39%	6.72%

Simon Property Group, Inc. (SPG) 10-Year Financial Performance & Capital Metrics

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Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

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Revenue History

Financial Ratios

Simon Property Group, Inc. (SPG) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare SPG vs Peers

vs MAC

vs SKT

Compare Top 4

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios