30 years of historical data (1996–2025) · Real Estate · REIT - Retail
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Simon Property Group, Inc. trades at 14.4x earnings, 27% below its 5-year average of 19.7x, sitting at the 3rd percentile of its historical range. Compared to the Real Estate sector median P/E of 23.4x, the stock trades at a discount of 38%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $66.3B | $60.3B | $56.2B | $46.6B | $38.5B | $52.5B | $26.3B | $45.9B | $52.0B | $53.5B | $55.6B |
| Enterprise Value | $95.4B | $89.5B | $79.5B | $72.0B | $63.3B | $77.8B | $52.6B | $69.9B | $74.8B | $76.7B | $78.0B |
| P/E Ratio → | 14.42 | 13.09 | 23.72 | 20.44 | 18.02 | 23.36 | 23.75 | 21.94 | 21.32 | 27.52 | 30.27 |
| P/S Ratio | 10.42 | 9.48 | 9.42 | 8.24 | 7.28 | 10.26 | 5.71 | 7.97 | 9.21 | 9.68 | 10.22 |
| P/B Ratio | 9.91 | 9.00 | 15.60 | 12.64 | 10.07 | 11.93 | 7.20 | 14.65 | 12.92 | 12.08 | 10.90 |
| P/FCF | — | — | 18.36 | 14.86 | 12.36 | 16.88 | 14.29 | 15.65 | 17.52 | 18.70 | 21.58 |
| P/OCF | — | — | 14.72 | 11.86 | 10.22 | 14.43 | 11.32 | 12.05 | 13.87 | 14.89 | 16.47 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Simon Property Group, Inc.'s enterprise value stands at 20.5x EBITDA, 12% above its 5-year average of 18.3x. The Real Estate sector median is 13.6x, placing the stock at a 50% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 14.06 | 13.34 | 12.72 | 11.97 | 15.20 | 11.41 | 12.14 | 13.25 | 13.87 | 14.35 |
| EV / EBITDA | 20.48 | 19.21 | 17.86 | 17.38 | 16.35 | 20.81 | 15.80 | 16.23 | 17.49 | 18.43 | 19.26 |
| EV / EBIT | 30.05 | 14.21 | 21.74 | 20.25 | 19.21 | 22.09 | 25.55 | 21.55 | 20.35 | 24.91 | 25.80 |
| EV / FCF | — | — | 26.00 | 22.94 | 20.33 | 25.02 | 28.52 | 23.84 | 25.20 | 26.78 | 30.29 |
Margins and return-on-capital ratios measuring operating efficiency
Simon Property Group, Inc. earns an operating margin of 49.9%, significantly above the Real Estate sector average of 22.0%. Return on equity of 89.6% is exceptionally high. ROIC of 7.6% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 85.7% | 85.7% | 82.5% | 81.8% | 81.1% | 81.0% | 80.7% | 82.2% | 82.1% | 82.3% | 82.1% |
| Operating Margin | 49.9% | 49.9% | 51.9% | 49.6% | 48.8% | 47.2% | 42.8% | 50.6% | 51.8% | 50.7% | 50.1% |
| Net Profit Margin | 72.5% | 72.5% | 39.8% | 40.3% | 40.4% | 44.0% | 24.1% | 36.5% | 43.2% | 35.2% | 33.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 89.6% | 89.6% | 65.1% | 60.8% | 52.0% | 55.8% | 32.8% | 58.7% | 57.7% | 40.9% | 35.6% |
| ROA | 12.6% | 12.6% | 7.1% | 6.8% | 6.4% | 6.6% | 3.4% | 6.8% | 7.8% | 6.1% | 6.0% |
| ROIC | 7.6% | 7.6% | 8.3% | 7.3% | 6.6% | 6.1% | 5.2% | 8.1% | 8.1% | 7.6% | 7.5% |
| ROCE | 9.1% | 9.1% | 10.3% | 9.3% | 8.6% | 7.9% | 6.8% | 10.6% | 10.2% | 9.6% | 9.6% |
Solvency and debt-coverage ratios — lower is generally safer
Simon Property Group, Inc. carries a Debt/EBITDA ratio of 6.4x, which is highly leveraged (roughly in line with the sector average of 6.7x). Net debt stands at $29.1B ($29.9B total debt minus $823M cash). Interest coverage of 3.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.47 | 4.47 | 6.89 | 7.19 | 6.66 | 5.87 | 7.45 | 7.88 | 5.79 | 5.56 | 4.51 |
| Debt / EBITDA | 6.43 | 6.43 | 5.57 | 6.40 | 6.57 | 6.91 | 8.19 | 5.73 | 5.45 | 5.92 | 5.68 |
| Net Debt / Equity | — | 4.34 | 6.50 | 6.87 | 6.50 | 5.75 | 7.17 | 7.67 | 5.66 | 5.23 | 4.40 |
| Net Debt / EBITDA | 6.25 | 6.25 | 5.25 | 6.12 | 6.41 | 6.76 | 7.88 | 5.57 | 5.33 | 5.57 | 5.54 |
| Debt / FCF | — | — | 7.64 | 8.08 | 7.97 | 8.13 | 14.23 | 8.19 | 7.68 | 8.09 | 8.71 |
| Interest Coverage | 3.26 | 3.26 | 3.41 | 3.28 | 3.39 | 3.03 | 2.51 | 3.69 | 3.59 | 3.46 | 3.17 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio has declined from 1.04x to 0.83x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 0.83 | 1.04 | 0.66 | 0.67 | 0.68 | 0.47 | 0.45 | 0.83 | 0.48 |
| Quick Ratio | — | — | 0.83 | 1.04 | 0.66 | 0.67 | 0.68 | 0.47 | 0.63 | 1.05 | 0.65 |
| Cash Ratio | 302.29 | 302.29 | 0.41 | 0.63 | 0.19 | 0.15 | 0.25 | 0.16 | 0.18 | 0.55 | 0.22 |
| Asset Turnover | — | 0.16 | 0.18 | 0.17 | 0.16 | 0.15 | 0.13 | 0.18 | 0.18 | 0.17 | 0.17 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Simon Property Group, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 6.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 4.7% | 5.2% | 0.8% | 0.6% | 5.5% | 5.6% | 4.7% | 4.2% | 3.7% |
| Payout Ratio | — | — | 111.6% | 106.8% | 15.3% | 15.0% | 129.7% | 121.8% | 100.4% | 114.5% | 110.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.9% | 7.6% | 4.2% | 4.9% | 5.5% | 4.3% | 4.2% | 4.6% | 4.7% | 3.6% | 3.3% |
| FCF Yield | — | — | 5.4% | 6.7% | 8.1% | 5.9% | 7.0% | 6.4% | 5.7% | 5.3% | 4.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.1% | 1.3% | 0.0% | 0.6% | 0.8% | 0.8% | 0.8% | 0.5% |
| Total Shareholder Yield | 0.0% | 0.0% | 4.7% | 6.3% | 2.2% | 0.6% | 6.1% | 6.4% | 5.6% | 4.9% | 4.1% |
| Shares Outstanding | — | $326M | $326M | $327M | $328M | $329M | $309M | $308M | $310M | $312M | $313M |
Compare SPG with 3 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| SPGYou | $66B | 14.4 | 20.5 | — | 85.7% | 49.9% | 89.6% | 7.6% | 6.4 |
| MAC | $5B | -26.2 | 5.0 | — | 95.4% | 67.8% | — | 20.9% | — |
| SKT | $4B | 42.1 | 19.8 | 27.3 | 69.8% | 28.6% | 15.5% | 5.3% | 5.2 |
| CBL | $1B | 8.7 | 10.4 | 16.0 | 7.6% | 24.2% | 40.1% | 4.3% | 7.1 |
| Real Estate Median | — | 23.4 | 13.6 | 13.7 | 60.4% | 22.0% | 3.3% | 2.6% | 6.7 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonSimon Property Group, Inc.'s current P/E ratio is 14.4x. The historical average is 30.3x. This places it at the 3th percentile of its historical range.
Simon Property Group, Inc.'s current EV/EBITDA is 20.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.4x.
Simon Property Group, Inc.'s return on equity (ROE) is 89.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 27.2%.
Based on historical data, Simon Property Group, Inc. is trading at a P/E of 14.4x. This is at the 3th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Simon Property Group, Inc. has 85.7% gross margin and 49.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Simon Property Group, Inc.'s Debt/EBITDA ratio is 6.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.