SIMON PROPERTY GROUP INC.
SPG· NYSE, NYSE· Real Estate Investment Trusts
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 50.3%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +6.7%
We record prices for the companies we cover; SPG is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 326.4M
- Revenue
- $6.4B
- Free cash flow
- $3.2B
- Owner earnings
- –
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 49.9%
- Net
- –
- Free cash flow
- 50.3%
- Owner earnings
- –
- Stock pay
- –
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- –
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- 6.3%
- Revenue, 5 yr
- 6.7%
- Revenue, 9 yr
- 1.8%
- Diluted EPS, 3 yr
- 29.5%
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- 0.9%
- Free cash flow, 5 yr
- 11.7%
- Free cash flow, 9 yr
- 2.5%
Financial health · FY2025
- Cash and investments
- $823.1M
- Total debt
- $28.4B
- Net debt
- $27.6B
- Debt/Equity
- 5.5x
- Debt/FCF
- 8.9x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 1.1%
Financials: ten years from the 10-Ks
Revenue
$6.4B
+1.8% a year over 9 years
FY2016FY2025
Margins
49.9%
FY2025
FY2016FY2025
Free cash flow and owner earnings
$3.2B
Free cash flow +2.5% a year
FY2016FY2025
Diluted shares
326.4M
+6.0% over 9 years, net dilution
FY2016FY2025
Net debt (below zero)
-$27.6B
$27.6B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $5.4B | $5.5B | $5.6B | $5.8B | $4.6B | $5.1B | $5.3B | $5.7B | $6.0B | $6.4B |
| Revenue growth | 3.2% | 1.7% | 2.1% | 1.9% | -19.9% | 11.1% | 3.4% | 6.9% | 5.4% | 6.7% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 50.1% | 50.7% | 51.8% | 50.6% | 42.8% | 47.2% | 48.8% | 49.6% | 51.9% | 49.9% |
| Net income | – | – | – | – | – | – | – | – | – | – |
| Net margin | – | – | – | – | – | – | – | – | – | – |
| Diluted EPS | – | – | – | – | – | $6.84 | $6.52 | $6.98 | $7.26 | $14.17 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | $3.4B | $3.6B | $3.8B | $3.8B | $2.3B | $3.6B | $3.8B | $3.9B | $3.8B | $4.1B |
| Capital expenditure | $798.5M | $732.1M | $781.9M | $876.0M | $484.1M | $527.9M | $650.0M | $793.3M | $755.6M | $934.3M |
| Free cash flow | $2.6B | $2.9B | $3.0B | $2.9B | $1.8B | $3.1B | $3.1B | $3.1B | $3.1B | $3.2B |
| Stock-based compensation | – | – | – | – | – | – | – | – | – | – |
| Owner earnings? | – | – | – | – | – | – | – | – | – | – |
| Free cash flow per share | – | – | – | $9.52 | $5.97 | $9.46 | $9.51 | $9.60 | $9.38 | $9.81 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | $255.3M | $407.0M | $354.1M | $359.8M | $152.6M | – | $180.4M | $140.6M | – | $226.8M |
| Diluted shares | – | – | – | 308.0M | 308.7M | 328.6M | 327.8M | 326.8M | 326.1M | 326.4M |
| Share count change? | – | – | – | – | 0.3% | 6.4% | -0.2% | -0.3% | -0.2% | 0.1% |
| Balance sheet | ||||||||||
| Cash and equivalents | $560.1M | $1.5B | $514.3M | $669.4M | $1.0B | $533.9M | $621.6M | $1.2B | $1.4B | $823.1M |
| Short-term investments | – | – | – | – | – | – | – | $1.0B | – | – |
| Total debt | $23.0B | $24.6B | $23.3B | $24.2B | $26.7B | $25.3B | $25.0B | $26.0B | $24.3B | $28.4B |
| Net debt | $22.4B | $23.2B | $22.8B | $23.5B | $25.7B | $24.8B | $24.3B | $23.9B | $22.9B | $27.6B |
| Shareholders' equity | $4.3B | $3.7B | $3.3B | $2.5B | $3.0B | $3.4B | $3.1B | $3.0B | $2.9B | $5.2B |
Latest filings
| 2026-08-10 | 10-Q | Quarterly report |
| 2026-08-10 | 8-K | Earnings release |
| 2026-05-11 | 8-K | Earnings release |
| 2026-05-11 | 10-Q | Quarterly report |
| 2026-04-01 | DEF 14A | Proxy statement |
| 2026-02-25 | 10-K | Annual report |
| 2026-02-02 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-11-03 | 8-K | Earnings release |
| 2025-08-07 | 10-Q | Quarterly report |
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