What is Simon Property Group, Inc.'s earnings per share (EPS)?

Simon Property Group, Inc. (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 Property Group, Inc. (SPG) Financials

SPG

Trailing 12 months to June 30, 2026

Revenue $6.9B +15.0% YoY

Net Income $5.4B +120.7% YoY

EPS (Diluted) $14.18 +119.2% YoY

Free Cash Flow $3.2B +2.4% YoY

Market Cap $64.6B as of Oct 9, 2026

Price / Sales 9.3x on $6.9B revenue, trailing 12 months to June 30, 2026

Price / Earnings 12.0x on $5.4B net income, trailing 12 months to June 30, 2026

Price / Book 14.6x on $4.4B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SPG SEC filings page.

Simon Property Group, Inc. (SPG) reported $6.9B in revenue over the twelve months to Jun 30, 2026, up 15.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI SPG FY2025 2026-10-03

The business produces recurring cash from a heavily financed asset base, while FY2025’s earnings surge was not matched by cash flow.

FY2025 earnings quality weakened: net profit margin jumped to 84.3% from 45.8%, yet operating cash flow reached only $4.1B against net income of $5.4B. Because operating margin actually eased to 49.9%, the unusually large earnings increase appears to come mainly below the operating line rather than from core operations.

Revenue reached $6.4B in FY2025, but operating income grew more slowly and operating margin slipped from 51.9% to 49.9%. That combination suggests the latest growth did not translate into proportionally greater operating efficiency, despite the company retaining a high operating margin.

Cash generation remains substantial: operating cash flow was $4.1B and free cash flow was $3.2B in FY2025 after $934M of capital spending. At the same time, debt-to-equity improved to 5.5x from 8.2x as equity increased, but the balance sheet remains structurally debt-heavy relative to its asset base.

Financial Health Signals

Financial Health Score 66/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Simon Property Group, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Simon Property Group, Inc. scores 99/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Simon Property Group, Inc. scores 84/100 on it among other REITs.

Leverage

Simon Property Group, Inc.'s net debt of $27.6B, being $28.4B of long-term debt less $823.1M of cash, came to 6.00 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and Simon Property Group, Inc. scores 36/100 among other REITs.

Interest Cov.

Simon Property Group, Inc.'s operating income of $3.2B covered its interest expense of $974.8M 3.26 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Simon Property Group, Inc. scores 76/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Simon Property Group, Inc. scores 99/100 on it among other REITs.

Dividend Cov.

Not available for Simon Property Group, Inc., and counted as zero in the overall score.

Piotroski F-Score Partial

4/6

Simon Property Group, Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 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 Property Group, Inc. 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

3.26x

Simon Property Group, Inc. earns $3.26 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

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Earnings & Revenue

Revenue

$1.8B

YoY+19.5%

QoQ+1.9%

5Y CAGR+7.4%

10Y CAGR+3.1%

Simon Property Group, Inc. generated $1.8B in revenue in Q2 2026. This represents an increase of 19.5% from the same quarter a year earlier. Against the prior quarter it is up 1.9%.

EBITDA

$1.3B

YoY+18.5%

QoQ+5.2%

5Y CAGR+6.9%

10Y CAGR+2.9%

Simon Property Group, Inc.'s EBITDA was $1.3B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.5% from the same quarter a year earlier. Against the prior quarter it is up 5.2%.

Net Income

$574.1M

YoY-10.8%

QoQ+1.0%

5Y CAGR-4.0%

10Y CAGR+0.9%

Simon Property Group, Inc. reported $574.1M in net income in Q2 2026. This represents a decrease of 10.8% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.

EPS (Diluted)

$1.49

YoY-12.4%

QoQ+0.7%

5Y CAGR-4.5%

Simon Property Group, Inc. earned $1.49 per diluted share (EPS) in Q2 2026. This represents a decrease of 12.4% from the same quarter a year earlier. Against the prior quarter it is up 0.7%.

Cash & Balance Sheet

Free Cash Flow

$958.7M

YoY-1.3%

QoQ+53.4%

5Y CAGR+1.5%

10Y CAGR+2.1%

Simon Property Group, Inc. generated $958.7M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 1.3% from the same quarter a year earlier. Against the prior quarter it is up 53.4%.

Cash & Debt

$1.0B

YoY-17.2%

QoQ+87.7%

5Y CAGR-4.6%

10Y CAGR+1.4%

Simon Property Group, Inc. held $1.0B in cash against $28.7B in long-term debt as of Q2 2026.

Dividends Per Share

$2.25

YoY+7.1%

QoQ+2.3%

Simon Property Group, Inc. paid $2.25 per share in dividends in Q2 2026. This represents an increase of 7.1% from the same quarter a year earlier. Against the prior quarter it is up 2.3%.

Shares Outstanding

Diluted avg 324M

Simon Property Group, Inc. had a weighted average of 324M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Margins & Returns

Operating Margin

46.0%

YoY-3.6pp

QoQ+2.6pp

5Y change-2.2pp

10Y change-4.1pp

Simon Property Group, Inc.'s operating margin was 46.0% in Q2 2026, reflecting core business profitability. This is down 3.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Net Margin

32.1%

YoY-10.9pp

QoQ-0.3pp

5Y change-24.2pp

10Y change-8.0pp

Simon Property Group, Inc.'s net profit margin was 32.1% in Q2 2026, showing the share of revenue converted to profit. This is down 10.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.

Return on Equity

13.0%

YoY-13.3pp

QoQ+1.2pp

5Y change-8.9pp

10Y change+1.5pp

Simon Property Group, Inc.'s ROE was 13.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 13.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$160.7M

QoQ-8.3%

Simon Property Group, Inc. spent $160.7M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 8.3%.

Capital Expenditures

$236.9M

YoY-2.9%

QoQ+13.7%

5Y CAGR+15.8%

10Y CAGR+2.0%

Simon Property Group, Inc. invested $236.9M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 2.9% from the same quarter a year earlier. Against the prior quarter it is up 13.7%.

R&D Spending

Not reported for Q2 2026.

SPG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SPG quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$6.9B	$6.4B+6.7%	$6.0B+5.4%	$5.7B+6.9%	$5.3B+3.4%	$5.1B+11.1%	$4.6B-19.9%	$5.8B+1.9%	$5.6B+2.1%	$5.5B+1.7%	$5.4B+3.2%	$5.3B+8.1%	$4.9B+7.2%	$4.5B+6.8%	$4.3B-1.2%	$4.3B
SG&A Expenses	N/A	$60.9M+36.1%	$44.7M+16.2%	$38.5M+10.1%	$35.0M+15.3%	$30.3M+34.4%	$22.6M-35.2%	$34.9M-25.1%	$46.5M-10.4%	$52.0M-20.1%	$65.1M+7.9%	$60.3M+0.6%	$60.0M+0.3%	$59.8M+4.7%	$57.1M+23.4%	$46.3M
Operating Income	$3.3B	$3.2B+2.7%	$3.1B+10.2%	$2.8B+8.6%	$2.6B+7.1%	$2.4B+22.4%	$2.0B-32.3%	$2.9B-0.5%	$2.9B+4.4%	$2.8B+3.0%	$2.7B+1.9%	$2.7B+11.9%	$2.4B+9.0%	$2.2B+9.1%	$2.0B+3.2%	$1.9B
EBITDA	N/A	$4.6B+5.6%	$4.4B+7.1%	$4.1B+6.8%	$3.8B+3.7%	$3.7B+11.7%	$3.3B-22.7%	$4.3B+1.1%	$4.2B+3.2%	$4.1B+2.6%	$4.0B+3.3%	$3.8B+9.0%	$3.5B+7.1%	$3.3B+7.2%	$3.1B+2.2%	$3.0B
Interest Expense	N/A	$974.8M+7.6%	$905.8M+6.0%	$854.6M+12.3%	$761.3M-4.3%	$795.7M+1.4%	$784.4M-0.6%	$789.4M-3.3%	$815.9M+0.8%	$809.4M-5.6%	$857.6M-7.2%	$923.7M-6.9%	$992.6M-8.3%	$1.1B+1.3%	$1.1B+8.6%	$983.5M
Income Tax	N/A	$20.3M+117.9%	$9.3M-86.5%	$68.8M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$20.2M-28.2%	$28.1M-29.0%	$39.5M+151.6%	$15.7M+35.5%	$11.6M
Net Income	$5.4B	$5.4B+96.6%	$2.7B+4.3%	$2.6B+6.7%	$2.5B-4.5%	$2.6B+101.1%	$1.3B-47.3%	$2.4B-14.1%	$2.8B+25.7%	$2.2B+5.2%	$2.1B-0.2%	$2.1B+29.5%	$1.7B+6.4%	$1.6B-9.8%	$1.7B+38.0%	$1.2B
EPS (Basic)	N/A	$14.17+95.2%	$7.26+4.0%	$6.98+7.1%	$6.52-4.7%	$6.84+90.5%	$3.59-47.3%	$6.81	N/A	N/A	N/A	N/A	N/A	$4.24-10.2%	$4.72+35.6%	$3.48
EPS (Diluted)	$14.18	$14.17+95.2%	$7.26+4.0%	$6.98+7.1%	$6.52-4.7%	$6.84	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$4.24-10.2%	$4.72+35.6%	$3.48
Diluted Shares (Avg)	N/A	326M+0.1%	326M-0.2%	327M-0.3%	328M-0.2%	329M+6.4%	309M+0.3%	308M	N/A	N/A	N/A	310M-0.2%	311M+0.2%	310M+2.3%	303M+3.3%	294M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Revenue	$1.8B+19.5%	$1.8B+19.3%	$1.8B+13.2%	$1.6B+8.2%	$1.5B+2.8%	$1.5B+2.1%	$1.6B+3.6%	$1.5B+4.9%
SG&A Expenses	$12.0M-16.0%	$54.3M+330.0%	N/A	$16.1M+75.5%	$14.3M+31.9%	$12.6M+38.3%	N/A	$9.2M+1.1%
Operating Income	$824.1M+10.7%	$762.2M+4.7%	$890.7M+6.6%	$812.9M+5.9%	$744.2M-1.3%	$727.6M-1.0%	$835.7M+5.5%	$767.8M+10.6%
EBITDA	$1.3B+18.5%	$1.2B+15.7%	$1.3B+12.7%	$1.2B+5.8%	$1.1B+1.8%	$1.1B+1.3%	$1.2B+4.6%	$1.1B+7.8%
Interest Expense	$281.2M+20.8%	$275.7M+21.4%	N/A	$242.8M+7.2%	$232.7M+5.1%	$227.0M-1.6%	N/A	$226.4M+6.7%
Net Income	$574.1M-10.8%	$568.5M+19.0%	$3.5B+358.7%	$702.7M+28.5%	$643.7M+13.0%	$477.9M-43.2%	$771.8M-10.2%	$546.7M-19.7%
EPS (Basic)	$1.49-12.4%	$1.48+16.5%	$9.35+358.3%	$1.86+27.4%	$1.70+12.6%	$1.27-43.6%	$2.04-10.9%	$1.46-19.8%
EPS (Diluted)	$1.49-12.4%	$1.48+16.5%	$9.35+358.3%	$1.86+27.4%	$1.70+12.6%	$1.27-43.6%	$2.04-10.9%	$1.46-19.8%
Diluted Shares (Avg)	324M-0.8%	325M-0.4%	326M0.0%	326M+0.1%	326M+0.1%	326M+0.1%	326M+0.1%	326M-0.3%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Income Tax.

SPG Balance Sheet

SPG quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$40.6B+25.3%	$32.4B-5.5%	$34.3B+3.9%	$33.0B-2.3%	$33.8B-2.9%	$34.8B+11.4%	$31.2B+1.8%	$30.7B-4.9%	$32.3B+3.7%	$31.1B+1.8%	$30.6B+3.5%	$29.5B-11.4%	$33.3B+2.3%	$32.6B+24.3%	$26.2B
Cash & Equivalents	$823.1M-41.2%	$1.4B+19.8%	$1.2B+88.1%	$621.6M+16.4%	$533.9M-47.2%	$1.0B+51.1%	$669.4M+30.1%	$514.3M-65.3%	$1.5B+164.7%	$560.1M-20.1%	$701.1M+14.5%	$612.3M-63.8%	$1.7B+42.8%	$1.2B+48.3%	$798.6M
Short-Term Investments	$0	$0-100.0%	$1.0B	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$20.1M0.0%	$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+10.8%	$28.1B+5.4%	$26.7B-4.2%	$27.8B+7.0%	$26.0B+2.7%	$25.3B+7.5%	$23.6B-10.5%	$26.3B+3.1%	$25.5B+25.0%	$20.4B
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+10.6%	$24.2B+3.7%	$23.3B-5.4%	$24.6B+7.2%	$23.0B+2.5%	$22.4B	N/A	N/A	N/A	$18.4B
Total Equity	$5.2B+77.0%	$2.9B-2.7%	$3.0B-3.7%	$3.1B-6.6%	$3.4B+10.6%	$3.0B+20.3%	$2.5B-23.4%	$3.3B-10.6%	$3.7B-14.5%	$4.3B-3.6%	$4.5B-12.2%	$5.1B-12.9%	$5.8B-1.0%	$5.9B+27.1%	$4.6B
Retained Earnings	-$4.6B+27.8%	-$6.4B-4.7%	-$6.1B-2.8%	-$5.9B-1.8%	-$5.8B+4.6%	-$6.1B-13.4%	-$5.4B-10.0%	-$4.9B-2.3%	-$4.8B-7.2%	-$4.5B-4.5%	-$4.3B-1.4%	-$4.2B-30.7%	-$3.2B-4.4%	-$3.1B+5.2%	-$3.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Total Assets	$39.7B+19.3%	$39.6B+22.0%	$40.6B+25.3%	$33.6B+1.0%	$33.3B-0.2%	$32.5B-3.5%	$32.4B-5.5%	$33.3B+0.9%
Cash & Equivalents	$1.0B-17.2%	$543.0M-60.7%	$823.1M-41.2%	$1.6B-28.5%	$1.2B-0.2%	$1.4B+10.3%	$1.4B+19.8%	$2.2B+182.2%
Short-Term Investments	$0	$0	$0	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%	$300.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	$20.1M0.0%	N/A	N/A	N/A	$20.1M0.0%	N/A
Total Liabilities	$33.9B+12.1%	$33.3B+13.9%	$33.9B+17.7%	$30.6B+2.3%	$30.2B+1.4%	$29.2B-2.3%	$28.8B-5.8%	$30.0B+2.1%
Long-Term Debt	$28.7B+13.0%	$28.2B+14.1%	$28.4B+17.2%	$25.8B+1.5%	$25.4B+0.4%	$24.8B-3.0%	$24.3B-6.8%	$25.4B+2.0%
Total Equity	$4.4B+80.9%	$4.9B+86.5%	$5.2B+77.0%	$2.3B-13.4%	$2.5B-16.7%	$2.6B-16.1%	$2.9B-2.7%	$2.7B-8.1%
Retained Earnings	-$5.1B+25.0%	-$4.9B+27.3%	-$4.6B+27.8%	-$6.9B-9.1%	-$6.8B-11.1%	-$6.7B-12.1%	-$6.4B-4.7%	-$6.4B-2.2%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

SPG Cash Flow Statement

SPG quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$4.1B	$4.1B+8.4%	$3.8B-3.0%	$3.9B+4.4%	$3.8B+3.6%	$3.6B+56.3%	$2.3B-38.9%	$3.8B+1.5%	$3.8B+4.4%	$3.6B+6.6%	$3.4B+11.5%	$3.0B+10.8%	$2.7B+1.1%	$2.7B+7.5%	$2.5B+25.3%	$2.0B
Depreciation & Amortization	N/A	$1.4B+12.7%	$1.3B+0.3%	$1.3B+2.8%	$1.2B-2.8%	$1.3B-4.2%	$1.3B-1.7%	$1.3B+4.5%	$1.3B+0.5%	$1.3B+1.8%	$1.3B+6.4%	$1.2B+2.9%	$1.1B+3.3%	$1.1B+3.7%	$1.1B+0.2%	$1.1B
Capital Expenditures	$905.4M	$934.3M+23.7%	$755.6M-4.8%	$793.3M+22.0%	$650.0M+23.1%	$527.9M+9.1%	$484.1M-44.7%	$876.0M+12.0%	$781.9M+6.8%	$732.1M-8.3%	$798.5M-21.8%	$1.0B+28.1%	$796.7M	N/A	N/A	N/A
Free Cash Flow	$3.2B	$3.2B+4.7%	$3.1B-2.5%	$3.1B+0.7%	$3.1B+0.2%	$3.1B+68.8%	$1.8B-37.2%	$2.9B-1.2%	$3.0B+3.7%	$2.9B+11.2%	$2.6B+28.5%	$2.0B+3.6%	$1.9B	N/A	N/A	N/A
Investing Cash Flow	-$746.1M	-$1.6B-213.7%	$1.4B+203.3%	-$1.4B-117.6%	-$626.6M-13.4%	-$552.8M+86.1%	-$4.0B-269.5%	-$1.1B-355.3%	-$236.5M+68.9%	-$761.5M+21.4%	-$969.0M+33.8%	-$1.5B-63.0%	-$897.3M+5.4%	-$948.1M+73.5%	-$3.6B-260.2%	-$994.0M
Financing Cash Flow	-$3.6B	-$3.1B+37.6%	-$5.0B-147.1%	-$2.0B+33.8%	-$3.1B+14.3%	-$3.6B-278.7%	$2.0B+177.4%	-$2.6B+42.5%	-$4.5B-134.7%	-$1.9B+24.9%	-$2.5B-72.7%	-$1.5B+49.9%	-$2.9B-140.7%	-$1.2B-184.0%	$1.5B+243.9%	-$1.0B
Share Buybacks	N/A	$226.8M	N/A	$140.6M-22.1%	$180.4M	N/A	$152.6M-57.6%	$359.8M+1.6%	$354.1M-13.0%	$407.0M+59.4%	$255.3M	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Operating Cash Flow	$1.2B-1.6%	$833.4M+0.7%	$1.2B+10.9%	$890.3M-0.3%	$1.2B+14.3%	$827.2M+7.0%	$1.1B+4.7%	$892.9M-4.6%
Depreciation & Amortization	$459.9M+35.6%	$458.9M+39.9%	$420.7M+28.4%	$338.6M+5.7%	$339.1M+9.4%	$328.1M+6.7%	$327.6M+2.3%	$320.4M+1.6%
Capital Expenditures	$236.9M-2.9%	$208.4M-9.5%	$254.9M+17.0%	$205.2M+10.1%	$244.0M+29.5%	$230.2M+41.3%	$217.9M+22.2%	$186.4M-18.1%
Free Cash Flow	$958.7M-1.3%	$625.0M+4.7%	$948.8M+9.4%	$685.0M-3.0%	$971.3M+11.0%	$597.0M-2.1%	$867.7M+1.1%	$706.5M-0.2%
Investing Cash Flow	-$127.3M+82.1%	-$106.5M+71.8%	-$362.0M-4204.4%	-$150.3M-118.5%	-$710.6M-575.4%	-$377.9M-154.5%	$8.8M+101.0%	$811.3M+551.6%
Financing Cash Flow	-$592.1M+9.4%	-$1.0B-114.4%	-$1.6B+15.7%	-$418.8M+45.5%	-$653.3M+33.0%	-$469.7M+66.1%	-$1.9B-897.4%	-$768.5M+6.8%
Share Buybacks	$160.7M	$175.3M	N/A	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.

SPG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SPG quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	49.9%-2.0pp	51.9%+2.3pp	49.6%+0.8pp	48.8%+1.7pp	47.2%+4.4pp	42.8%-7.8pp	50.6%-1.2pp	51.8%+1.1pp	50.7%+0.6pp	50.1%-0.6pp	50.7%+1.7pp	49.0%+0.8pp	48.2%+1.0pp	47.1%+2.0pp	45.1%
Net Margin	84.3%+38.5pp	45.8%-0.5pp	46.3%-0.1pp	46.4%-3.8pp	50.2%+22.5pp	27.7%-14.4pp	42.1%-7.9pp	50.0%+9.4pp	40.6%+1.3pp	39.3%-1.4pp	40.6%+6.7pp	33.9%-0.2pp	34.2%-6.3pp	40.4%+11.5pp	28.9%
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%-53.9pp	95.9%+10.3pp	85.6%+24.7pp	60.9%+11.4pp	49.5%+1.7pp	47.9%+15.4pp	32.4%+5.9pp	26.5%-2.6pp	29.1%+2.3pp	26.8%
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%-4.1pp	7.8%-1.4pp	9.2%+2.2pp	7.0%+0.1pp	6.9%-0.1pp	7.0%+1.4pp	5.6%+0.9pp	4.7%-0.6pp	5.3%+0.5pp	4.8%
Debt-to-Equity	5.46-2.8x	8.25-0.4x	8.61+0.7x	7.95+0.4x	7.53-1.3x	8.79-0.8x	9.56+2.5x	7.07+0.4x	6.68+1.4x	5.33+0.3x	5.01+0.4x	4.62+0.1x	4.50+0.2x	4.32+0.4x	3.96
Asset Turnover	0.160.0x	0.180.0x	0.170.0x	0.160.0x	0.150.0x	0.13-0.1x	0.180.0x	0.180.0x	0.170.0x	0.170.0x	0.170.0x	0.160.0x	0.140.0x	0.130.0x	0.16
FCF Margin	50.3%-1.0pp	51.3%-4.1pp	55.4%-3.5pp	58.9%-1.9pp	60.8%+20.8pp	40.0%-10.9pp	50.9%-1.7pp	52.6%+0.8pp	51.8%+4.4pp	47.4%+9.3pp	38.0%-1.7pp	39.7%	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Operating Margin	46.0%-3.6pp	43.4%-6.0pp	49.7%-3.1pp	50.8%-1.1pp	49.7%-2.1pp	49.4%-1.6pp	52.8%+1.0pp	51.8%+2.6pp
Net Margin	32.1%-10.9pp	32.4%-0.1pp	197.6%	43.9%+7.0pp	43.0%+3.9pp	32.4%-25.9pp	48.8%-7.5pp	36.9%-11.3pp
Return on Equity	13.0%-13.3pp	11.7%-6.6pp	68.0%+41.7pp	29.9%+9.8pp	26.3%+6.9pp	18.3%-8.7pp	26.2%-2.2pp	20.2%-2.9pp
Return on Assets	1.5%-0.5pp	1.4%0.0pp	8.7%+6.3pp	2.1%+0.4pp	1.9%+0.2pp	1.5%-1.0pp	2.4%-0.1pp	1.6%-0.4pp
Debt-to-Equity	6.47-3.9x	5.81-3.7x	5.46-2.8x	10.98+1.6x	10.36+1.8x	9.50+1.3x	8.25-0.4x	9.37+0.9x
Asset Turnover	0.050.0x	0.040.0x	0.040.0x	0.050.0x	0.040.0x	0.050.0x	0.050.0x	0.040.0x
FCF Margin	53.5%-11.3pp	35.6%-5.0pp	53.0%-1.9pp	42.8%-4.9pp	64.8%+4.8pp	40.5%-1.8pp	54.8%-1.4pp	47.7%-2.5pp

Not reported in any period shown, so not listed: Gross Margin, Current Ratio.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Simon Property Group, Inc. SPG	FY2025	$6.4B	$5.4B	84.3%	$64.6B	66/100
Realty Income Corporation O	FY2025	$5.7B	$1.1B	18.4%	$50.5B	51/100
Kimco Realty Corp. KIM	FY2025	$2.1B	$554.4M	25.9%	$14.7B	66/100
Regency Centers Corporation REG	FY2025	$1.6B	$527.5M	34.0%	$13.0B	79/100
Federal Realty Investment Trust FRT	FY2025	$1.3B	$411.1M	32.1%	$9.1B	63/100
Agree Realty Corporation ADC	FY2025	$718.4M	$204.3M	28.4%	$8.1B	47/100

Where Simon Property Group, Inc. Ranks

Frequently Asked Questions

What is Simon Property Group, Inc.'s annual revenue?

Simon Property Group, Inc. (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 Property Group, Inc.'s revenue growing?

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

Is Simon Property Group, Inc. profitable?

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

What is Simon Property Group, Inc.'s EBITDA?

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

How much debt does Simon Property Group, Inc. have?

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

What is Simon Property Group, Inc.'s operating margin?

Simon Property Group, Inc. (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 Property Group, Inc.'s net profit margin?

Simon Property Group, Inc. (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 Property Group, Inc. pay dividends?

Yes, Simon Property Group, Inc. (SPG) paid $8.55 per share in dividends during fiscal year 2025.

What is Simon Property Group, Inc.'s return on equity (ROE)?

Simon Property Group, Inc. (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 Property Group, Inc.'s free cash flow?

Simon Property Group, Inc. (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 Property Group, Inc.'s operating cash flow?

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

What are Simon Property Group, Inc.'s total assets?

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

What are Simon Property Group, Inc.'s capital expenditures?

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

Does Simon Property Group, Inc. buy back shares?

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

What is Simon Property Group, Inc.'s debt-to-equity ratio?

Simon Property Group, Inc. (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 Property Group, Inc.'s return on assets (ROA)?

Simon Property Group, Inc. (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 Property Group, Inc.'s P/E ratio?

Simon Property Group, Inc. (SPG) trades at 12.0x earnings, its market capitalization divided by net income of $5.4B net income, trailing 12 months to June 30, 2026. The market capitalization is $64.6B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Simon Property Group, Inc.'s price-to-sales ratio?

Simon Property Group, Inc. (SPG) trades at 9.3x sales, its market capitalization divided by revenue of $6.9B revenue, trailing 12 months to June 30, 2026. The market capitalization is $64.6B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Simon Property Group, Inc.'s Piotroski F-Score?

Simon Property Group, Inc. (SPG) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Simon Property Group, Inc.'s earnings high quality?

Simon Property Group, Inc. (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 Property Group, Inc. cover its interest payments?

Simon Property Group, Inc. (SPG) has an interest coverage ratio of 3.26x, 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 Property Group, Inc.?

Simon Property Group, Inc. (SPG) scores 66 out of 100 on our Financial Health Score, indicating strong standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.