Also trades as: 0L6P.L (LSE) · $vol 0M · SPG-PJ (NYSE) · $vol 0M

$212.10

-0.59 (-0.28%)

Weekly Expected Move ±3.0%

$199 $205 $212 $218 $224

NYSE · Real Estate · REIT - Retail · Tech Score Buy · Power 70 · $68.8B mcap · 320M float · 0.489% daily turnover · Short 59% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $566.3M held by 292 funds, 69 bp over Treasuries → details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$6.4B +6.7% ▲

5Y CAGR: +6.7%

Gross Profit

$5.5B +10.9% ▲

5Y CAGR: +8.0%

Operating Income

$3.2B +2.7% ▲

5Y CAGR: +10.0%

Net Income

$4.6B +94.7% ▲

5Y CAGR: +32.9%

EPS (Diluted)

$14.14 +94.8% ▲

5Y CAGR: +31.5%

EBITDA

$7.9B +56.6% ▲

5Y CAGR: +18.2%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$5.1B	$5.3B	$5.7B	$6.0B	$6.4B
YoY Growth	+11.1%	+3.4%	+6.9%	+5.4%	+6.7%
Cost of Revenue	$971M	$1.0B	$1.0B	$1.0B	$909M
Gross Profit	$4.1B	$4.3B	$4.6B	$4.9B	$5.5B
Gross Margin	81.0%	81.1%	81.8%	82.5%	85.7%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$145M	$143M	$166M	$189M	$282M
Operating Expenses	$1.7B	$1.7B	$1.8B	$1.8B	$2.3B
Operating Income	$2.4B	$2.6B	$2.8B	$3.1B	$3.2B
Operating Margin	47.2%	48.8%	49.6%	51.9%	49.9%
Interest Expense	$796M	$761M	$855M	$906M	$975M
Income Before Tax	$2.7B	$2.5B	$2.7B	$2.8B	$5.4B
Tax Expense	$157M	$84M	$82M	$23M	$36M
Net Income	$2.2B	$2.1B	$2.3B	$2.4B	$4.6B
Net Margin	44.0%	40.4%	40.3%	39.8%	72.5%
EPS (Diluted)	$6.84	$6.69	$6.98	$7.26	$14.14
EBITDA	$4.8B	$4.6B	$4.9B	$5.0B	$7.9B
Shares Outstanding	329M	328M	327M	326M	326M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$1.5B	$1.6B	$1.5B	$1.5B	$1.6B	$1.8B	$1.8B	$1.8B
Cost of Revenue	$258M	$272M	$274M	$215M	$265M	$155M	$347M	$303M
Gross Profit	$1.2B	$1.3B	$1.2B	$1.3B	$1.3B	$1.6B	$1.4B	$1.5B
Gross Margin	82.6%	82.8%	81.4%	85.7%	83.4%	91.4%	80.3%	83.1%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$43M	$59M	$47M	$51M	$55M	$129M	$156M	$51M
Operating Expenses	$455M	$475M	$471M	$539M	$523M	$746M	$648M	$663M
Operating Income	$768M	$836M	$728M	$744M	$813M	$891M	$762M	$824M
Operating Margin	51.9%	52.8%	49.4%	49.7%	50.8%	49.7%	43.4%	46.0%
Interest Expense	$226M	$227M	$227M	$233M	$243M	$272M	$276M	$281M
Income Before Tax	$549M	$740M	$470M	$679M	$705M	$3.5B	$459M	$585M
Tax Expense	$3M	-$32M	-$8M	$35M	$15M	-$7M	-$20M	$11M
Net Income	$476M	$668M	$415M	$557M	$594M	$3.0B	$480M	$484M
Net Margin	32.1%	42.2%	28.1%	37.2%	37.1%	170.2%	27.3%	27.0%
EPS (Diluted)	$1.46	$2.04	$1.27	$1.70	$1.82	$9.35	$1.48	$1.49
EBITDA	$1.1B	$1.3B	$1.1B	$1.3B	$1.0B	$4.2B	$1.2B	$1.4B
Shares Outstanding	326M	326M	326M	327M	327M	326M	324M	324M

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