What is Simon Prop Grp's earnings per share (EPS)?

Simon Prop Grp (SPG) reported diluted earnings per share of $14.17 for fiscal year 2025. This represents a 95.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Simon Prop Grp Financials

SPG

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Simon Prop Grp (SPG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 69/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Simon Prop Grp has an operating margin of 49.9%, meaning the company retains $50 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 51.9% the prior year.

Growth

Simon Prop Grp's revenue grew 6.7% year-over-year to $6.4B, a solid pace of expansion. This earns a growth score of 45/100.

Leverage

Simon Prop Grp has elevated debt relative to equity (D/E of 5.46), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

100

Simon Prop Grp converts 50.3% of revenue into free cash flow ($3.2B). This strong cash generation earns a score of 100/100.

Returns

100

Simon Prop Grp earns a strong 103.0% return on equity (ROE), meaning it generates $103 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 92.8% the prior year.

Piotroski F-Score Neutral

4/9

Simon Prop Grp passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

0.77x

For every $1 of reported earnings, Simon Prop Grp generates $0.77 in operating cash flow ($4.1B OCF vs $5.4B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Adequate

3.3x

Simon Prop Grp earns $3.3 in operating income for every $1 of interest expense ($3.2B vs $974.8M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$6.4B

YoY+6.7%

5Y CAGR+6.7%

10Y CAGR+1.9%

Simon Prop Grp generated $6.4B in revenue in fiscal year 2025. This represents an increase of 6.7% from the prior year.

EBITDA

$4.6B

YoY+5.6%

5Y CAGR+6.9%

10Y CAGR+1.8%

Simon Prop Grp's EBITDA was $4.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.6% from the prior year.

Net Income

$5.4B

YoY+96.6%

5Y CAGR+33.2%

10Y CAGR+9.6%

Simon Prop Grp reported $5.4B in net income in fiscal year 2025. This represents an increase of 96.6% from the prior year.

EPS (Diluted)

$14.17

YoY+95.2%

Simon Prop Grp earned $14.17 per diluted share (EPS) in fiscal year 2025. This represents an increase of 95.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$3.2B

YoY+4.7%

5Y CAGR+11.7%

10Y CAGR+4.8%

Simon Prop Grp generated $3.2B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 4.7% from the prior year.

Cash & Debt

$823.1M

YoY-41.2%

5Y CAGR-4.0%

10Y CAGR+1.6%

Simon Prop Grp held $823.1M in cash against $28.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$8.55

YoY+5.6%

5Y CAGR+7.3%

10Y CAGR+3.5%

Simon Prop Grp paid $8.55 per share in dividends in fiscal year 2025. This represents an increase of 5.6% from the prior year.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

49.9%

YoY-2.0pp

5Y CAGR+7.1pp

10Y CAGR-0.8pp

Simon Prop Grp's operating margin was 49.9% in fiscal year 2025, reflecting core business profitability. This is down 2.0 percentage points from the prior year.

Net Margin

84.3%

YoY+38.5pp

5Y CAGR+56.6pp

10Y CAGR+43.6pp

Simon Prop Grp's net profit margin was 84.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 38.5 percentage points from the prior year.

Return on Equity

103.0%

YoY+10.2pp

5Y CAGR+61.0pp

10Y CAGR+55.1pp

Simon Prop Grp's ROE was 103.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 10.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$226.8M

5Y CAGR+8.3%

Simon Prop Grp spent $226.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$934.3M

YoY+23.7%

5Y CAGR+14.1%

10Y CAGR-0.9%

Simon Prop Grp invested $934.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 23.7% from the prior year.

SPG Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$6.4B+6.7%	$6.0B+5.4%	$5.7B+6.9%	$5.3B+3.4%	$5.1B+11.1%	$4.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$60.9M+36.1%	$44.7M+16.2%	$38.5M+10.1%	$35.0M+15.3%	$30.3M+34.4%	$22.6M
Operating Income	$3.2B+2.7%	$3.1B+10.2%	$2.8B+8.6%	$2.6B+7.1%	$2.4B+22.4%	$2.0B
Interest Expense	$974.8M+7.6%	$905.8M+6.0%	$854.6M+12.3%	$761.3M-4.3%	$795.7M+1.4%	$784.4M
Income Tax	$20.3M+117.9%	$9.3M-86.5%	$68.8M	N/A	N/A	N/A
Net Income	$5.4B+96.6%	$2.7B+4.3%	$2.6B+6.7%	$2.5B-4.5%	$2.6B+101.1%	$1.3B
EPS (Diluted)	$14.17+95.2%	$7.26+4.0%	$6.98+7.1%	$6.52-4.7%	$6.84	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$1.8B+11.9%	$1.6B+6.9%	$1.5B+1.7%	$1.5B-6.9%	$1.6B+6.9%	$1.5B+1.5%	$1.5B+1.1%	$1.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$16.1M+12.5%	$14.3M+13.2%	$12.6M	N/A	$9.2M-15.4%	$10.8M+18.7%	$9.1M
Operating Income	$890.7M+9.6%	$812.9M+9.2%	$744.2M+2.3%	$727.6M-12.9%	$835.7M+8.9%	$767.8M+1.8%	$754.1M+2.6%	$735.2M
Interest Expense	N/A	$242.8M+4.3%	$232.7M+2.5%	$227.0M	N/A	$226.4M+2.3%	$221.3M-4.0%	$230.6M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$3.5B+403.8%	$702.7M+9.2%	$643.7M+34.7%	$477.9M-38.1%	$771.8M+41.2%	$546.7M-4.0%	$569.4M-32.3%	$841.2M
EPS (Diluted)	$9.35+402.7%	$1.86+9.4%	$1.70+33.9%	$1.27-37.7%	$2.04+39.7%	$1.46-3.3%	$1.51-32.9%	$2.25

SPG Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$40.6B+25.3%	$32.4B-5.5%	$34.3B+3.9%	$33.0B-2.3%	$33.8B-2.9%	$34.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$823.1M-41.2%	$1.4B+19.8%	$1.2B+88.1%	$621.6M+16.4%	$533.9M-47.2%	$1.0B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M
Total Liabilities	$33.9B+17.7%	$28.8B-5.8%	$30.6B+4.8%	$29.2B-0.6%	$29.4B-5.6%	$31.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$28.4B+17.2%	$24.3B-6.8%	$26.0B+4.3%	$25.0B-1.4%	$25.3B-5.2%	$26.7B
Total Equity	$5.2B+77.0%	$2.9B-2.7%	$3.0B-3.7%	$3.1B-6.6%	$3.4B+10.6%	$3.0B
Retained Earnings	-$4.6B+27.8%	-$6.4B-4.7%	-$6.1B-2.8%	-$5.9B-1.8%	-$5.8B+4.6%	-$6.1B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$40.6B+20.8%	$33.6B+0.9%	$33.3B+2.4%	$32.5B+0.3%	$32.4B-2.6%	$33.3B-0.3%	$33.4B-0.9%	$33.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$823.1M-47.0%	$1.6B+26.1%	$1.2B-10.8%	$1.4B-1.5%	$1.4B-35.5%	$2.2B+75.8%	$1.2B-1.3%	$1.3B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$20.1M	N/A	N/A	N/A	$20.1M	N/A	N/A	N/A
Total Liabilities	$33.9B+10.7%	$30.6B+1.4%	$30.2B+3.3%	$29.2B+1.5%	$28.8B-3.8%	$30.0B+0.5%	$29.8B-0.5%	$29.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$28.4B+10.2%	$25.8B+1.5%	$25.4B+2.6%	$24.8B+2.0%	$24.3B-4.5%	$25.4B+0.5%	$25.3B-0.9%	$25.5B
Total Equity	$5.2B+121.7%	$2.3B-4.2%	$2.5B-5.9%	$2.6B-11.4%	$2.9B+8.4%	$2.7B-7.9%	$2.9B-5.2%	$3.1B
Retained Earnings	-$4.6B+33.6%	-$6.9B-1.4%	-$6.8B-1.9%	-$6.7B-5.1%	-$6.4B-0.4%	-$6.4B-3.3%	-$6.2B-2.8%	-$6.0B

SPG Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$4.1B+8.4%	$3.8B-3.0%	$3.9B+4.4%	$3.8B+3.6%	$3.6B+56.3%	$2.3B
Capital Expenditures	$934.3M+23.7%	$755.6M-4.8%	$793.3M+22.0%	$650.0M+23.1%	$527.9M+9.1%	$484.1M
Free Cash Flow	$3.2B+4.7%	$3.1B-2.5%	$3.1B+0.7%	$3.1B+0.2%	$3.1B+68.8%	$1.8B
Investing Cash Flow	-$1.6B-213.7%	$1.4B+203.3%	-$1.4B-117.6%	-$626.6M-13.4%	-$552.8M+86.1%	-$4.0B
Financing Cash Flow	-$3.1B+37.6%	-$5.0B-147.1%	-$2.0B+33.8%	-$3.1B+14.3%	-$3.6B-278.7%	$2.0B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$226.8M	N/A	$140.6M-22.1%	$180.4M	N/A	$152.6M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$1.2B+35.2%	$890.3M-26.7%	$1.2B+46.9%	$827.2M-23.8%	$1.1B+21.6%	$892.9M-16.0%	$1.1B+37.5%	$773.1M
Capital Expenditures	$254.9M+24.2%	$205.2M-15.9%	$244.0M+6.0%	$230.2M+5.7%	$217.9M+16.9%	$186.4M-1.1%	$188.4M+15.6%	$163.0M
Free Cash Flow	$948.8M+38.5%	$685.0M-29.5%	$971.3M+62.7%	$597.0M-31.2%	$867.7M+22.8%	$706.5M-19.2%	$874.8M+43.4%	$610.1M
Investing Cash Flow	-$362.0M-140.9%	-$150.3M+78.9%	-$710.6M-88.0%	-$377.9M-4384.2%	$8.8M-98.9%	$811.3M+871.2%	-$105.2M-115.2%	$693.4M
Financing Cash Flow	-$1.6B-275.1%	-$418.8M+35.9%	-$653.3M-39.1%	-$469.7M+74.8%	-$1.9B-142.6%	-$768.5M+21.1%	-$974.6M+29.6%	-$1.4B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SPG Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	49.9%-2.0pp	51.9%+2.3pp	49.6%+0.8pp	48.8%+1.7pp	47.2%+4.4pp	42.8%
Net Margin	84.3%+38.5pp	45.8%-0.5pp	46.3%-0.1pp	46.4%-3.8pp	50.2%+22.5pp	27.7%
Return on Equity	103.0%+10.2pp	92.8%+6.2pp	86.6%+8.4pp	78.1%+1.7pp	76.4%+34.4pp	42.0%
Return on Assets	13.2%+4.8pp	8.4%+0.8pp	7.6%+0.2pp	7.4%-0.2pp	7.6%+3.9pp	3.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	5.46-2.8	8.25-0.4	8.61+0.7	7.95+0.4	7.53-1.3	8.79
FCF Margin	50.3%-1.0pp	51.3%-4.1pp	55.4%-3.5pp	58.9%-1.9pp	60.8%+20.8pp	40.0%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	49.7%-1.0pp	50.8%+1.1pp	49.7%+0.3pp	49.4%-3.4pp	52.8%+1.0pp	51.8%+0.1pp	51.7%+0.7pp	51.0%
Net Margin	197.6%+153.7pp	43.9%+0.9pp	43.0%+10.5pp	32.4%-16.3pp	48.8%+11.9pp	36.9%-2.1pp	39.1%-19.3pp	58.3%
Return on Equity	68.0%+38.1pp	29.9%+3.6pp	26.3%+7.9pp	18.3%-7.9pp	26.2%+6.1pp	20.2%+0.8pp	19.3%-7.7pp	27.1%
Return on Assets	8.7%+6.6pp	2.1%+0.2pp	1.9%+0.5pp	1.5%-0.9pp	2.4%+0.7pp	1.6%-0.1pp	1.7%-0.8pp	2.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	5.46-5.5	10.98+0.6	10.36+0.9	9.50+1.3	8.25-1.1	9.37+0.8	8.59+0.4	8.22
FCF Margin	53.0%+10.2pp	42.8%-22.0pp	64.8%+24.3pp	40.5%-14.3pp	54.8%+7.1pp	47.7%-12.3pp	60.0%+17.7pp	42.3%

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Frequently Asked Questions

What is Simon Prop Grp's annual revenue?

Simon Prop Grp (SPG) reported $6.4B in total revenue for fiscal year 2025. This represents a 6.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Simon Prop Grp's revenue growing?

Simon Prop Grp (SPG) revenue grew by 6.7% year-over-year, from $6.0B to $6.4B in fiscal year 2025.

Is Simon Prop Grp profitable?

Yes, Simon Prop Grp (SPG) reported a net income of $5.4B in fiscal year 2025, with a net profit margin of 84.3%.

What is Simon Prop Grp's EBITDA?

Simon Prop Grp (SPG) had EBITDA of $4.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Simon Prop Grp have?

As of fiscal year 2025, Simon Prop Grp (SPG) had $823.1M in cash and equivalents against $28.4B in long-term debt.

What is Simon Prop Grp's operating margin?

Simon Prop Grp (SPG) had an operating margin of 49.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Simon Prop Grp's net profit margin?

Simon Prop Grp (SPG) had a net profit margin of 84.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Simon Prop Grp pay dividends?

Yes, Simon Prop Grp (SPG) paid $8.55 per share in dividends during fiscal year 2025.

What is Simon Prop Grp's return on equity (ROE)?

Simon Prop Grp (SPG) has a return on equity of 103.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Simon Prop Grp's free cash flow?

Simon Prop Grp (SPG) generated $3.2B in free cash flow during fiscal year 2025. This represents a 4.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Simon Prop Grp's operating cash flow?

Simon Prop Grp (SPG) generated $4.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Simon Prop Grp's total assets?

Simon Prop Grp (SPG) had $40.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Simon Prop Grp's capital expenditures?

Simon Prop Grp (SPG) invested $934.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Simon Prop Grp buy back shares?

Yes, Simon Prop Grp (SPG) spent $226.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Simon Prop Grp's debt-to-equity ratio?

Simon Prop Grp (SPG) had a debt-to-equity ratio of 5.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Simon Prop Grp's return on assets (ROA)?

Simon Prop Grp (SPG) had a return on assets of 13.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Simon Prop Grp's Piotroski F-Score?

Simon Prop Grp (SPG) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Simon Prop Grp's earnings high quality?

Simon Prop Grp (SPG) has an earnings quality ratio of 0.77x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Simon Prop Grp cover its interest payments?

Simon Prop Grp (SPG) has an interest coverage ratio of 3.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Simon Prop Grp?

Simon Prop Grp (SPG) scores 69 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.