SPG · Simon Property Group Inc /De/ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.76B | - | $1.60B | $1.50B | $1.47B | - | $1.48B | $1.46B | $1.44B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $54.30M | - | $16.09M | $14.30M | $12.63M | - | $9.17M | $10.84M | $9.13M | - |
| Total Operating Expenses | $994.93M | - | $788.66M | $754.26M | $745.40M | - | $712.94M | $704.16M | $707.41M | - |
| D&A | $458.90M | - | $338.64M | $339.06M | $328.05M | - | $320.37M | $310.02M | $307.37M | - |
| Operating Income | $762.16M | - | $812.91M | $744.20M | $727.62M | - | $767.77M | $754.10M | $735.18M | - |
| Interest Expense | $275.66M | - | $242.79M | $221.34M | $227.00M | - | $226.42M | $218.09M | $230.62M | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | $479.57M | - | $606.17M | $556.13M | $413.70M | - | $475.16M | $493.46M | $731.70M | - |
| EPS - Basic | $1.48 | - | $1.86 | $1.70 | $1.27 | - | $1.46 | $1.51 | $2.25 | - |
| EPS - Diluted | $1.48 | - | $1.86 | $1.70 | $1.27 | - | $1.46 | $1.51 | $2.25 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $542.96M | $823.15M | $1.55B | $1.23B | $1.38B | $1.40B | $2.17B | $1.23B | $1.25B | $1.17B |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $39.64B | $40.61B | $33.60B | $33.30B | $32.50B | $32.41B | $33.28B | $33.38B | $33.70B | $34.28B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $28.25B | $28.43B | $25.79B | $25.40B | $24.75B | $24.26B | $25.42B | $25.29B | $25.52B | $26.03B |
| Total Liabilities | $33.30B | $33.90B | $30.63B | $30.20B | $29.23B | $28.81B | $29.95B | $29.79B | $29.93B | $30.60B |
| Stockholders' Equity | $4.86B | $5.21B | $2.35B | $2.45B | $2.61B | $2.94B | $2.71B | $2.94B | $3.11B | $3.02B |
| Retained Earnings | ($4.88B) | ($4.61B) | ($6.93B) | ($6.84B) | ($6.71B) | ($6.38B) | ($6.36B) | ($6.16B) | ($5.99B) | ($6.10B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $833.38M | - | - | - | $827.22M | - | - | - | $773.10M | - |
| Investing Cash Flow | ($106.46M) | - | - | - | ($377.87M) | - | - | - | $693.37M | - |
| Financing Cash Flow | ($1.01B) | - | - | - | ($469.69M) | - | - | - | ($1.38B) | - |
| CapEx | $208.40M | - | - | - | $230.20M | - | - | - | $162.97M | - |
| Free Cash Flow | $624.98M | - | - | - | $597.02M | - | - | - | $610.13M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 43.4% | - | 50.8% | 49.7% | 49.4% | - | 51.9% | 51.7% | 51.0% | - |
| EBITDA margin | 69.5% | - | 71.9% | 72.3% | 71.7% | - | 73.5% | 73.0% | 72.3% | - |
| Net margin | 27.3% | - | 37.8% | 37.1% | 28.1% | - | 32.1% | 33.8% | 50.7% | - |
| Free cash flow margin | 35.6% | - | - | - | 40.5% | - | - | - | 42.3% | - |
| FCF / Net income | 1.30 | - | - | - | 1.44 | - | - | - | 0.83 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 3.1% | - | 1.0% | 1.0% | 0.9% | - | 0.6% | 0.7% | 0.6% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | 1.2% | - | 1.8% | 1.7% | 1.3% | - | 1.4% | 1.5% | 2.2% | - |
| Return on equity | 9.9% | - | 25.8% | 22.7% | 15.9% | - | 17.5% | 16.8% | 23.6% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | 5.81 | 5.46 | 10.98 | 10.36 | 9.50 | 8.25 | 9.37 | 8.59 | 8.22 | 8.61 |
| Debt / Assets | 0.71 | 0.70 | 0.77 | 0.76 | 0.76 | 0.75 | 0.76 | 0.76 | 0.76 | 0.76 |
| Debt / EBITDA | 23.13 | - | 22.40 | 23.45 | 23.45 | - | 23.36 | 23.76 | 24.48 | - |
| Interest coverage | 2.8x | - | 3.3x | 3.4x | 3.2x | - | 3.4x | 3.5x | 3.2x | - |
| Equity multiplier | 8.16 | 7.80 | 14.30 | 13.58 | 12.47 | 11.02 | 12.26 | 11.34 | 10.85 | 11.34 |
| Liabilities / Assets | 0.84 | 0.83 | 0.91 | 0.91 | 0.90 | 0.89 | 0.90 | 0.89 | 0.89 | 0.89 |
| Efficiency | ||||||||||
| Asset turnover | 0.04 | - | 0.05 | 0.05 | 0.05 | - | 0.04 | 0.04 | 0.04 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 126.0x | - | 100.9x | 94.6x | 130.8x | - | 115.8x | 100.5x | 69.6x | - |
| P / B | 12.5x | - | 26.1x | 21.4x | 20.8x | - | 20.3x | 16.8x | 16.4x | - |
| P / S | 34.5x | - | 38.3x | 35.0x | 36.8x | - | 37.2x | 33.9x | 35.4x | - |
| EV / EBITDA | 72.3x | - | 74.3x | 70.8x | 73.5x | - | 72.0x | 69.1x | 72.2x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 19.3% | - | 8.2% | 2.8% | 2.1% | - | 4.9% | 6.5% | 6.8% | - |
| Revenue CAGR (3y) | 9.2% | - | 6.8% | 5.4% | 4.4% | - | 4.5% | 5.2% | 5.2% | - |
| Revenue CAGR (5y) | 7.2% | - | 8.6% | 7.1% | 1.7% | - | 0.9% | 0.9% | -0.1% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 4.7% | - | 5.9% | -1.3% | -1.0% | - | 10.6% | 14.6% | 10.9% | - |
| Net income growth (YoY) | 15.9% | - | 27.6% | 12.7% | -43.5% | - | -20.0% | 1.5% | 61.9% | - |
| EPS growth (YoY) | 16.5% | - | 27.4% | 12.6% | -43.6% | - | -19.8% | 1.3% | 63.0% | - |
| EPS CAGR (3y) | 2.4% | - | 4.1% | 4.0% | -0.8% | - | 44.9% | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 4.7% | - | - | - | -2.1% | - | - | - | -7.9% | - |
| FCF CAGR (5y) | -3.9% | - | - | - | 2.5% | - | - | - | -0.3% | - |
| Book value growth (YoY) | 86.5% | 77.0% | -13.4% | -16.7% | -16.1% | -2.7% | -8.1% | 2.5% | 3.4% | -3.7% |
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing SIMON PROPERTY GROUP INC /DE/ against the 5 most active filers in the same SIC group.
Dividends
$8.65/share trailing 12 months · +4.8% YoY
| Ex-date | Per share |
|---|---|
| Mar 10, 2026 | $2.2000 |
| Dec 10, 2025 | $2.2000 |
| Sep 9, 2025 | $2.1500 |
| Jun 9, 2025 | $2.1000 |
| Mar 10, 2025 | $2.1000 |
| Dec 9, 2024 | $2.1000 |
| Sep 9, 2024 | $2.0500 |
| Jun 7, 2024 | $2.0000 |
| Mar 7, 2024 | $1.9500 |
| Dec 7, 2023 | $1.9000 |
| Sep 7, 2023 | $1.9000 |
| Jun 8, 2023 | $1.8500 |
| Mar 9, 2023 | $1.8000 |
| Dec 8, 2022 | $1.8000 |
| Sep 8, 2022 | $1.7500 |
| Jun 8, 2022 | $1.7000 |
| Mar 9, 2022 | $1.6500 |
| Dec 9, 2021 | $1.6500 |
| Sep 8, 2021 | $1.5000 |
| Jul 1, 2021 | $1.4000 |
| Apr 8, 2021 | $1.3000 |
| Dec 23, 2020 | $1.3000 |
| Oct 8, 2020 | $1.3000 |
| Jul 9, 2020 | $1.3000 |