— Know what they know.
/
Not Investment Advice

SPG

NYSE · USD
Simon Property Group, Inc.
Real Estate · REIT - Retail
CEO Eli Simon Employees 3,600 R&D / revenue 0.0%
Last price
$205.44+1.01%last session
Market cap
$66.5B
P/E (TTM)
14.5x
From 52w high
−13.9%
From 52w low
+19.3%
1-year return
+17.7%
RSI 14 · vs SMA200
53.8 · +0.6%
IS score
56.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

SPG   SPY   XLRE (sector ETF) · weekly closes
100110120130Jan 26Apr 26Jul 26Oct 26SPG 118SPY 116XLRE 101

Score DNA

Each bar is a 0-100 score within the scored universe
93
Profitability
84
Growth
48
Value
83
Momentum
30
Risk (safety)
61
Quality
32
Balance sheet
75
Earnings quality

Flags

Strengths
✓ Insider buying✓ Congress buying
Warnings
▲ Altman distress zone
Observations
Moat model: Narrow, Efficient ScalePiotroski 7 / 9Altman Z 1.8Beta 1.314 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
39
$0.99M bought
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
6
Last disclosed purchase 2026-09-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+52
164 new holders, 93 closed
1,366 filers hold 94.9% · 520 added, 466 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+190
1,055 funds adding shares
865 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
27.3%
20-day avg 48.5%, 50-day avg 53.9%
Latest 21.2 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$6.4B
Revenue growth YoY+6.7%
Gross margin85.7%
Operating income$3.2B
Operating margin49.9%
Net income$4.6B
Net margin72.5%
EPS (diluted)$14.14
Cash flow
Operating cash flow$4.5B
Capital expenditure$912.3M
Free cash flow$3.6B
FCF conversion (FCF / OCF)79.6%
Stock-based compensation$0
FCF less SBC$3.6B
Buybacks$227.2M
Dividends$2.8B
Balance sheet & returns
Cash & short-term investments$823.1M
Total debt$28.4B
Net debt$27.6B
Shareholders' equity$6.7B
Goodwill & intangibles$0
Debt / equity6.64
ROE (TTM)109.4%
ROIC (TTM)8.7%
Operating margin by fiscal year
47.2%FY202148.8%FY202249.6%FY202351.9%FY202449.9%FY2025
Revenue $5.1B (FY2021) to $6.4B (FY2025), a 5.6% CAGR.

Valuation

P/E (TTM)14.5x
EV / EBITDA12.0x
Price / sales9.58x
Price / FCF20.7x
FCF yield4.84%
Buyback yield0.34%
SBC / revenue0.0%
Price / book15.01x
Forward P/E FY202630.8x
Forward P/E FY202729.4x
Forward P/E FY202827.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $225.17 across 12 analysts last quarter is theirs, not ours.

SPG vs industry median

71 companies in REIT - Retail
Gross margin 84.6% 69.1% Operating margin 47.4% 38.5% Net margin 66.4% 25.5% ROIC 8.7% 5.1%
SPG (TTM)Industry median Asset turnover 0.17 vs industry 0.12 · financial leverage 8.95

Earnings delivery

Next report 2026-11-05 · consensus EPS $1.67
83%
beat rate, 10 of 12 quarters
+5.8%
median EPS surprise
7
longest beat streak
+7+10+27-1+81+86+1+0+4+392+1-9
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-30 to 2026-08-10. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
SPG Simon Property Group, Inc. $66.5B14.5x109.4%66.4%+6.7% +17.7%
O Realty Income Corporation $53.1B40.9x3.4%27.8%+8.6% −4.5%
KIM Kimco Realty Corporation $15.4B25.7x5.8%27.8%+5.7% +7.4%
REG Regency Centers Corporation $13.4B20.7x9.7%27.9%+11.2% +3.3%
FRT Federal Realty Investment Tr $9.2B21.2x13.2%25.5%+8.1% +8.4%
BRX Brixmor Property Group Inc. $8.5B19.5x14.5%20.8%+5.8% —
ADC Agree Realty Corporation $8.3B36.0x3.7%26.6%+18.2% —
NNN NNN REIT, Inc. $7.9B20.4x8.7%40.1%+6.5% —
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.

Recent 8-K filings

No 8-K filings on file.

Context

Shares outstanding323,551,515
Free float99.0%
Institutional ownership94.9%
Beta1.31
Dividend yield4.33%
Last dividend$2.25 on 2026-09-09
50 / 200-day average$209.59 / $204.50
Large-cap Real Estate median P/E26.2x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where SPG sits among 25 scored companies in REIT - Retail (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureSPGIndustry medianIndustry percentileSector median
P/E (TTM) 14.4x 21.0x
9th		 24.1x
PEG (P/E ÷ 3-yr EPS CAGR) 0.49 2.70
14th		 1.55
Price / sales 9.6x 7.0x
92nd		 3.7x
Price / book 15.0x 1.9x
100th		 1.3x
Price / tangible book 16.3x 2.0x
100th		 1.6x
Price / free cash flow 20.4x 20.6x
48th		 15.1x
Price / operating cash flow 16.1x 13.5x
88th		 12.3x
Enterprise value $94.9B $7.5B
100th		 $7.5B
EV / sales 13.7x 10.6x
88th		 9.4x
EV / EBITDA 12.2x 14.7x
21st		 15.7x
EV / EBIT 15.6x 24.4x
12th		 27.2x
EV / free cash flow 29.2x 29.2x
48th		 29.4x
Earnings yield 6.9% 4.7%
92nd		 3.2%
FCF yield 4.9% 4.8%
58th		 5.6%
Operating cash flow yield 6.2% 7.4%
12th		 7.9%
Graham number (per share) $66.17 $22.48
91st		 $22.48

Profitability (TTM)

MeasureSPGIndustry medianIndustry percentileSector median
Gross margin 84.6% 54.8%
92nd		 51.4%
EBITDA margin —
Operating margin 47.4% 34.5%
83rd		 29.0%
EBIT margin 87.6% 44.6%
96th		 31.7%
Net margin 66.4% 28.9%
96th		 12.2%
NOPAT margin 47.4% 34.5%
83rd		 25.5%
FCF margin 46.8% 31.7%
83rd		 21.8%
Operating cash flow margin 59.6% 49.7%
71st		 33.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 5.6% 6.9%
42nd		 6.6%
Stock comp / revenue 0.0% 1.4%
0th		 1.2%
Effective tax rate -0.0% 0.0%
8th		 1.9%

Returns on capital

MeasureSPGIndustry medianIndustry percentileSector median
ROE (on average equity) 133.8% 8.7%
100th		 5.3%
ROA 12.6% 4.1%
96th		 1.6%
ROIC 10.0% 5.4%
100th		 3.7%
ROCE 16.0% 5.9%
92nd		 4.4%
Return on tangible assets 16.6% 5.9%
96th		 3.8%
Cash ROIC (OCF / invested capital) 12.6% 6.8%
92nd		 5.7%
Gross profitability (GP / assets) 14.8% 5.6%
100th		 5.3%
ROIC, 3-yr average 8.9% 4.2%
100th		 2.4%
ROIC, 5-yr average 8.3% 3.7%
100th		 2.6%
ROE, 5-yr average 84.2% 6.1%
100th		 4.4%
Incremental ROIC 21.4% 21.4%
50th		 6.5%

Growth

MeasureSPGIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 15.0% 9.0%
83rd		 8.4%
Revenue growth (QoQ) 1.9% 0.3%
71st		 2.2%
Revenue CAGR, 3 yr 8.5% 8.0%
57th		 5.8%
Revenue CAGR, 5 yr 8.2% 9.1%
35th		 9.5%
Gross profit CAGR, 3 yr 9.7% 0.1%
90th		 -0.8%
Operating income CAGR, 3 yr 7.4% 4.8%
67th		 3.0%
Net income growth (TTM YoY) 117.8% 47.1%
86th		 21.3%
Net income CAGR, 3 yr 28.8% 15.0%
67th		 8.5%
EPS growth (TTM YoY) 119.9% 38.6%
81st		 17.6%
EPS CAGR, 3 yr 29.3% 10.7%
72nd		 5.7%
EPS CAGR, 5 yr 25.8% 16.5%
72nd		 5.6%
FCF growth (TTM YoY) 3.4% -13.7%
67th		 3.0%
FCF CAGR, 3 yr 1.6% 2.5%
44th		 5.6%
Operating cash flow CAGR, 3 yr 2.6% 7.4%
29th		 3.7%
Book value CAGR, 3 yr 16.0% 1.0%
100th		 -2.0%
Dividend CAGR, 3 yr -0.2% -0.2%
52nd		 -1.2%
Sustainable growth rate 43.8% -1.5%
100th		 -1.4%

Margin history & stability

MeasureSPGIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 83.4% 67.4%
78th		 59.1%
Operating margin, 3-yr average 49.8% 37.5%
70th		 28.6%
Net margin, 3-yr average 48.5% 25.5%
100th		 12.3%
FCF margin, 3-yr average 50.4% 37.6%
83rd		 27.4%
Revenue stability (0-1) 0.95 0.97
35th		 0.82
Earnings stability (0-1) 0.62 0.64
48th		 0.36
Margin stability (0-1) 0.98 0.88
91st		 0.83

Liquidity (latest quarter)

MeasureSPGIndustry medianIndustry percentileSector median
Cash & short-term investments $1.0B $144.6M
100th		 $141.2M
Net cash (− = net debt) −$28.4B −$2.2B
0th		 −$3.3B
Working capital $95.1M $77.6M
62nd		 $19.5M
Current ratio 1.05 1.35
38th		 1.02
Quick ratio 1.05 1.35
38th		 1.02
Cash ratio (cash + ST investments / current liabilities) 0.56 0.49
61st		 0.36
Defensive interval (days) 269 days 352 days
37th		 554 days

Leverage & solvency (latest quarter)

MeasureSPGIndustry medianIndustry percentileSector median
Total debt $29.4B $2.6B
100th		 $3.5B
Debt / equity 6.64 1.09
100th		 1.33
Net debt / equity 6.41 1.09
100th		 1.26
Debt / assets 74.1% 47.5%
92nd		 51.3%
Debt / capital 86.9% 52.1%
100th		 57.1%
Debt / EBITDA 3.78 4.80
12th		 6.47
Net debt / EBITDA 3.65 4.62
17th		 6.15
Interest coverage (EBIT / interest) 5.7x 2.7x
88th		 1.5x
Cash interest coverage 3.9x 3.2x
67th		 2.1x
Debt payback (years of OCF) 7.1 yrs 7.3 yrs
42nd		 8.9 yrs
Liabilities / assets 86.0% 51.1%
100th		 60.0%
IS credit model rating BBB- — —
Implied credit spread (bps) 350 475
21st		 650

Efficiency

MeasureSPGIndustry medianIndustry percentileSector median
Asset turnover 0.19 0.12
92nd		 0.12
Fixed asset turnover 0.23 0.23
50th		 0.90
Inventory turnover —
Receivables turnover 8.4 7.0
58th		 7.6
Days sales outstanding 44 days 52 days
42nd		 37 days
Days inventory outstanding —
Days payables outstanding 586 days 106 days
100th		 53 days
Cash conversion cycle (days) −543 days −55 days
0th		 −6 days
Capex / revenue 12.7% 16.9%
33rd		 4.4%
Capex / depreciation 0.51 0.52
46th		 0.32
Operating expense ratio 37.0% 40.3%
42nd		 30.9%

Cash flow & earnings quality

MeasureSPGIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.90 1.91
4th		 1.83
FCF / net income 0.71 1.30
22nd		 1.43
FCF / operating cash flow 78.6% 65.2%
75th		 82.5%
Capex / operating cash flow 21.4% 34.8%
25th		 17.9%
Accruals ratio 1.3% -2.9%
96th		 -3.1%
Sloan accruals ratio -0.7% -5.1%
88th		 -3.3%
Earnings quality score (0-1) 0.75 1.00
4th		 1.00

Dividends & buybacks

MeasureSPGIndustry medianIndustry percentileSector median
Dividend yield 4.3% 4.4%
46th		 5.2%
Dividend per share (TTM) $8.90 $1.47
96th		 $1.21
Payout ratio (dividends / net income) 67.3% 116.8%
9th		 110.2%
Dividends / FCF 95.4% 81.8%
62nd		 79.1%
Dividend growth (YoY) -0.6% 5.4%
12th		 2.3%
Buyback yield 0.9% 0.0%
92nd		 0.1%
Shareholder yield (dividends + buybacks) 5.6% 4.6%
71st		 5.9%
Share count change (YoY) -1.0% 0.8%
8th		 0.5%
Buybacks, last 5 years $1.3B $935,000
100th		 $15.9M

Scores & forensic checks

MeasureSPGIndustry medianIndustry percentileSector median
IS score 57 53
75th		 43
IS profitability 93 62
100th		 44
IS growth 84 65
100th		 58
IS value 48 53
21st		 53
IS momentum 83 90
33rd		 77
IS risk (safety) 30 15
54th		 15
IS quality 61 72
12th		 59
IS balance sheet 32 37
8th		 35
IS earnings quality 75 77
42nd		 72
IS cash flow 65 63
58th		 61
Piotroski F-score (0-9) 7 6
54th		 6
Altman Z-score 1.8 1.2
92nd		 0.8
Beneish M-score −2.52 −2.70
71st		 −2.71
Ohlson O-score −6.69 −7.54
79th		 −6.91
IS credit score 51 42
67th		 34

Per share

MeasureSPGIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $14.22 $1.41
96th		 $0.78
Book value per share $13.69 $18.44
21st		 $15.91
Tangible book per share $17.20 $18.64
38th		 $16.11
Revenue per share $21.42 $5.03
96th		 $6.28
FCF per share $10.03 $1.77
100th		 $1.49
Operating cash flow per share $12.76 $2.62
100th		 $1.95
Cash per share $3.15 $0.63
92nd		 $0.95

Size (TTM)

MeasureSPGIndustry medianIndustry percentileSector median
Market cap $66.5B $4.9B
100th		 $2.5B
Revenue $6.9B $750.9M
100th		 $956.7M
EBITDA $7.8B $541.9M
100th		 $399.5M
Net income $4.6B $169.8M
100th		 $109.6M
Free cash flow $3.3B $237.8M
100th		 $157.8M
Total assets $39.7B $5.4B
96th		 $6.6B
Shareholders' equity $4.4B $2.4B
71st		 $1.8B
Employees 3,350 318
100th		 307

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Jones Nina P
Director
 Open-market buy 46$202.78$9,3284,229
2026-09-30Glasscock Larry C
Director
 Open-market buy 367$202.78$74,42046,269
2026-09-30Cicco Martin J
Director
 Open-market buy 15$202.78$3,0421,402
2026-09-30Aeppel Glyn
Director
 Open-market buy 222$202.78$45,01721,289
2026-09-30Stewart Marta R
Director
 Open-market buy 199$202.78$40,35318,199
2026-09-30Smith Daniel C.
Director
 Open-market buy 350$202.78$70,97334,830
2026-09-30Selig Stefan M
Director
 Open-market buy 208$202.78$42,17834,020
2026-09-30Rodkin Gary M
Director
 Open-market buy 232$202.78$47,04521,248
2026-09-30Lewis Randall J
Director
 Open-market buy 65$202.78$13,1817,083
2026-09-30Leibowitz Reuben S
Director
 Open-market buy 480$202.78$97,33456,277
2026-09-30Roe Peggy
Director
 Open-market buy 88$202.78$17,8458,135
2026-08-31Jackson Matthew A
SVP, ASSISTANT TREASURER
 Tax withholding 250$214.56$53,6409,005

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1215,300—
GiftAcquired27,736,735—
Open-market buyAcquired394,659$993,767
Tax withholdingDisposed49,811$2.1M
Will / inheritanceAcquired18,000—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

FiledFilerShares proposedEst. proceeds
None on file.
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 5 trades (5 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-05-08William R. KeatingHousePurchase$1,001 - $15,0002026-05-19
2026-04-20Jonathan JacksonHousePurchase$15,001 - $50,0002026-05-28
2026-04-20Jonathan JacksonHousePurchase$15,001 - $50,0002026-05-28
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-21
2021-10-15Pat ToomeySenatePurchase$1,001 - $15,0002021-11-15
2021-10-15Patrick Joseph ToomeySenatePurchase$1,001 - $15,0002021-11-14
2021-05-25Gary PetersSenatePurchase$1,001 - $15,0002021-07-06
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.37,269,192$8.3B11.52%
VANGUARD PORTFOLIO MANAGEMENT LLC27,878,674$6.2B8.62%
VANGUARD CAPITAL MANAGEMENT LLC20,632,222$4.6B6.38%
STATE STREET CORP20,356,570$4.6B6.29%
GEODE CAPITAL MANAGEMENT, LLC11,335,910$2.5B3.50%
Capital World Investors10,524,034$2.4B3.25%
WELLINGTON MANAGEMENT GROUP LLP9,390,325$2.1B2.90%
BANK OF AMERICA CORP /DE/8,248,498$1.8B2.55%
COHEN & STEERS, INC.5,870,615$1.3B1.81%
FMR LLC5,561,360$1.2B1.72%
MORGAN STANLEY5,252,210$1.2B1.62%
DIMENSIONAL FUND ADVISORS LP4,552,481$1.0B1.41%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC4,525,736$1.0B1.40%
Sixth Street Partners Management Company, L.P.4,525,736$1.0B1.40%
NORGES BANK4,293,287$960.2M1.33%

Institutional ownership by quarter

2023-092026-0694.9%
% of shares held by 13F filers
2023-092026-061,366
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,36694.9%16452046693
2026-03-311,31490.4%12551344884
2025-12-311,29490.6%16449741372
2025-09-301,22289.7%128471412108
2025-06-301,21990.0%12750840096
2025-03-311,20691.0%11547740490
2024-12-311,19690.5%17442441491
2024-09-301,13889.4%12343439178
2024-06-301,10889.0%10643038178
2024-03-311,09189.5%12739737976
2023-12-311,05889.5%17534339385
2023-09-3098788.6%9034936082

Schedule 13D / 13G filers

FiledFormFiler% of classShares
None on file.
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VNQ3.69%$2.5B
VGSLX3.69%$2.5B
VGSNX3.69%$2.5B
VITSX0.08%$2.0B
VTSAX0.08%$2.0B
VSMPX0.08%$2.0B

Share structure

Shares outstanding323,551,515
Float320,388,613
Free float99.0%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$5.1B$5.3B$5.7B$6.0B$6.4B
Cost of revenue$971.1M$1.0B$1.0B$1.0B$909.1M
Gross profit$4.1B$4.3B$4.6B$4.9B$5.5B
R&D$0$0$0$0$0
SG&A$144.6M$142.8M$165.9M$189.3M$281.5M
Operating income$2.4B$2.6B$2.8B$3.1B$3.2B
EBITDA$4.8B$4.6B$4.9B$5.0B$7.9B
Pretax income$2.7B$2.5B$2.7B$2.8B$5.4B
Income tax$157.2M$83.5M$81.9M$23.3M$35.8M
Net income$2.2B$2.1B$2.3B$2.4B$4.6B
EPS, diluted$6.84$6.69$6.98$7.26$14.14
Diluted shares328.6M327.8M326.8M326.1M326.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$533.9M$621.6M$2.2B$1.4B$823.1M
Receivables$1.5B$1.5B$1.4B$1.4B$934.1M
Inventory$0$0$0$0$0
Total current assets$2.3B$2.1B$3.6B$2.8B$1.8B
PP&E, net$504.1M$496.9M$484.1M$519.6M$31.0B
Goodwill & intangibles$53.4M$37.9M$28.8M$22.8M$0
Total assets$33.8B$33.0B$34.3B$32.4B$40.6B
Accounts payable$1.4B$1.5B$1.7B$1.7B$2.0B
Total current liabilities$3.5B$3.2B$3.5B$3.4B$11.0B
Long-term debt$24.8B$24.9B$26.0B$24.2B$21.1B
Total liabilities$29.4B$29.2B$30.6B$28.8B$33.9B
Shareholders' equity$4.4B$3.8B$3.7B$3.6B$6.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$2.6B$2.5B$2.3B$2.7B$4.6B
Depreciation & amortization$1.3B$1.3B$1.3B$1.4B$1.4B
Stock-based compensation$24.8M$24.7M$0$0$0
Change in working capital$391.7M$148.9M$258.1M−$72.5M−$679,000
Operating cash flow$3.6B$3.8B$3.9B$3.8B$4.5B
Capital expenditure−$527.9M−$650.0M−$793.3M−$755.6M−$912.3M
Free cash flow$3.1B$3.1B$3.1B$3.1B$3.6B
Investing cash flow−$552.8M−$626.6M−$1.4B$1.4B−$1.9B
Net debt issued / repaid−$825.6M−$272.5M$971.3M−$1.9B$390.4M
Buybacks−$2.3M−$515.9M−$518.3M−$10.6M−$227.2M
Dividends paid−$2.4B−$2.3B−$2.4B−$2.6B−$2.8B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin81.0%81.1%82.2%82.9%85.7%
Operating margin47.2%48.8%49.6%51.9%49.9%
Net margin44.0%40.4%40.3%39.8%72.5%
FCF margin60.8%58.9%55.4%51.3%50.8%
ROE70.3%65.8%74.1%79.5%113.2%
ROIC7.9%8.9%9.9%11.6%9.4%
ROA6.6%6.4%6.8%7.1%12.6%
Debt / equity7.688.118.778.425.60
Interest coverage4.4x4.3x4.2x4.0x6.3x
Current ratio0.670.661.040.830.16
Revenue growth+11.1%+3.4%+6.9%+5.4%+6.7%
EPS growth+102.1%−4.4%+7.0%+3.7%+94.8%
P/E at year end18.7x15.3x18.4x22.6x13.1x
EV / EBITDA at year end13.9x12.5x13.6x15.3x11.7x
FCF yield at year end7.40%9.54%7.45%5.72%5.36%
Dividend payout104.5%105.8%110.6%128.5%67.5%

Street estimates by fiscal year

Next report 2026-11-05 · consensus EPS $1.67 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$6.7B$6.6B – $6.9B$6.66$6.57 – $6.70330.8x
2027$7.0B$6.9B – $7.3B$6.99$6.95 – $7.09529.4x
2028$7.2B$6.9B – $7.4B$7.46$6.69 – $7.88527.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-10$1.64$1.49−9.1%$1.6B$1.7B+3.0%
2026-05-11$1.46$1.48+1.4%$1.5B$1.8B+13.9%
2026-02-02$1.90$9.35+392.1%$1.5B$1.8B+20.0%
2025-11-03$3.09$3.22+4.2%$1.5B$1.6B+6.5%
2025-08-04$3.04$3.05+0.3%$1.4B$1.5B+5.2%
2025-05-12$2.91$2.95+1.4%$1.3B$1.5B+9.6%
2025-02-04$1.98$3.68+85.9%$1.3B$1.6B+19.2%
2024-11-01$1.57$2.84+80.9%$1.3B$1.5B+11.7%
2024-08-05$2.93$2.90−1.0%$1.3B$1.5B+12.0%
2024-05-06$2.80$3.56+27.1%$1.3B$1.4B+11.9%
2024-02-05$3.34$3.69+10.5%$1.4B$1.5B+12.4%
2023-10-30$2.98$3.20+7.4%$1.3B$1.4B+11.1%
2023-08-02$2.91$2.88−1.0%$1.2B$1.4B+9.6%
2023-05-02$2.80$2.74−2.1%$1.2B$1.4B+9.0%
2023-02-06$3.14$3.15+0.3%$1.3B$1.4B+8.3%
2022-11-01$2.93$2.97+1.4%$1.2B$1.3B+6.2%
2022-08-01$2.91$2.96+1.7%$1.2B$1.3B+4.7%
2022-05-09$2.73$2.78+1.8%$1.2B$1.3B+7.8%
2022-02-07$2.88$3.09+7.3%$1.3B$1.3B+5.3%
2021-11-01$2.47$3.13+26.7%$1.2B$1.3B+11.6%
2021-08-02$2.37$2.92+23.2%$963.1M$1.3B+30.2%
2021-05-10$2.25$2.48+10.2%$1.1B$1.2B+11.2%
2021-02-08$2.19$2.17−0.9%$1.1B$1.1B+3.8%
2020-11-09$2.25$2.05−8.9%$1.4B$1.1B−24.2%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.706-220.506-290.507-060.407-130.307-200.407-270.508-030.508-100.308-170.208-240.308-31
Week ofNotionalSharesTrades
2026-08-31$271.3M1,283,02046,510
2026-08-24$238.8M1,097,86944,025
2026-08-17$276.0M1,249,19347,646
2026-08-10$452.1M2,047,13753,308
2026-08-03$517.9M2,303,53755,136
2026-07-27$412.5M1,766,07854,616

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1527.3%
DateShort shareShort volumeTotal volume
2026-10-1527.3%189,579694,685
2026-10-1432.0%126,968396,613
2026-10-1323.1%126,143545,182
2026-10-1236.3%169,043466,121
2026-10-0934.8%196,173564,198
2026-10-0831.3%139,109443,765
2026-10-0732.2%143,758446,193
2026-10-0630.2%155,258514,687
2026-10-0559.7%199,028333,242
2026-10-0258.4%214,849367,652
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.7Jan+0.5Feb-1.6Mar+4.8Apr-1.4May-0.4Jun+2.2Jul+1.5Aug+0.3Sep+2.3Oct+2.0Nov+3.4Dec
MonthAvg returnUp yearsYears
Jan+0.7%65%20
Feb+0.5%50%20
Mar−1.6%48%21
Apr+4.8%60%20
May−1.4%35%20
Jun−0.4%45%20
Jul+2.2%75%20
Aug+1.5%50%20
Sep+0.3%50%20
Oct+2.3%65%20
Nov+2.0%60%20
Dec+3.4%75%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1453.8
MFI55.1
ADX37.4
Stochastic %K / %D60.5 / 47.2
Williams %R-9.1
CCI93
TSI / signal-19.7 / -30.0
Chaikin money flow-0.07
ATR$3.20
Bollinger width4.8%
Volume vs 20-day avg0.90x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$202.27 (+1.6%)
SMA 50$208.90 (−1.7%)
SMA 200$204.27 (+0.6%)
EMA 21$202.94 (+1.2%)
EMA 50$207.34 (−0.9%)
EMA 200$203.15 (+1.1%)
Bollinger upper$207.13 (−0.8%)
Bollinger lower$197.40 (+4.1%)
Parabolic SAR$196.91 (+4.3%)
Open the live chart, 110+ indicators

About Simon Property Group, Inc.

Simon Property Group (NYSE: SPG) is a prominent S&P 100 real estate investment trust that specializes in owning and developing a portfolio of world-class shopping, dining, entertainment, and mixed-use destinations. These significant properties, strategically located across North America, Europe, and Asia, serve as vital community hubs, attracting millions of visitors daily and contributing billions in annual revenue.

https://www.simon.com

Key executives

NameTitlePayBorn
Eli SimonPresident, CEO, COO & Director$2.1M1988
Brian J. McDadeExecutive Vice President & Chief Financial Officer$1.7M1979
John RulliChief Administrative Officer$1.7M1956
Steven E. FivelGeneral Counsel & Secretary$1.7M1961
Adam J. ReuilleSenior Vice President & Chief Accounting Officer$742,8911975
Lee SterlingChief Marketing Officer——
Thomas WardSenior Vice President of Investor Relations—1969
Tim ChmielewskiChief Human Resources Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
David Simon Chairman of the Board and Chief Executive Officer2015$1.2M$9.5M$3.5M$14.2M
Richard S. Sokolov President and Chief Operating Officer2015$800,000$5.0M$1.2M$7.4M
David J. Contis President—Simon Malls2015$750,000$2.2M$1.2M$4.3M
James M. Barkley General Counsel and Secretary2015$566,500$2.5M$800,000$3.9M
Andrew A. Juster Executive Vice President and Chief Financial Officer2015$500,000$2.5M$650,000$3.7M

Employees

5k20184k20193k20203k20213k20223k20233k20244k2025

Dividends

Ex-dateAmountPaid
2026-09-09$2.252026-09-30
2026-06-09$2.252026-06-30
2026-03-10$2.22026-03-31
2025-12-10$2.22025-12-31
2025-09-09$2.152025-09-30
2025-06-09$2.12025-06-30
2025-03-10$2.12025-03-31
2024-12-09$2.12024-12-30

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage76
Intangibles60
Switching costs49
Network effect50
Efficient scale80
Our component scores (0-100) and overall 62.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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