COVERAGE / SPG / Real Estate

SIMON PROPERTY GROUP INC.

Real Estate Investment Trusts

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS1

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$6.36bn

Prior / $5.96bn

Change / +6.72%

SOURCE / 2026-02-25

Operating income

$3.18bn

Prior / $3.09bn

Change / +2.67%

SOURCE / 2026-02-25

Net income

$5.36bn

Prior / $2.73bn

Change / +96.56%

SOURCE / 2026-02-25

Diluted EPS

$14.17

Prior / $7.26

Change / +95.18%

SOURCE / 2026-02-25

Free cash flow

Not available

Prior / Not available

Change / Unavailable

SOURCE / 2026-02-25

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

49.89%

Prior / 51.86%

Change / -1.97 pp

SOURCE / 2026-02-25

Return on avg. equity

131.63%

Prior / 91.50%

Change / +40.13 pp

SOURCE / 2026-02-25

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 6364505000,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "frame": "CY2025",
    "tag": "us-gaap:Revenues",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 5364120000,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "frame": "CY2025",
    "tag": "us-gaap:ProfitLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 3175396000,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 14.17,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 4136551000,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 40606466000,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 33901073000,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 5208268000,
    "accn": "0001104659-26-019419",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-25",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$6.36bn	$5.36bn	Not available	$14.17
2024-12-31	$5.96bn	$2.73bn	Not available	$7.26
2023-12-31	$5.66bn	$2.62bn	Not available	$6.98
2022-12-31	$5.29bn	$2.45bn	Not available	$6.52

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	14.43x	Unavailable	44.72x	6
P/S	Unavailable	Unavailable	19.40x	3
P/B	Unavailable	Unavailable	7.15x	3
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	Unavailable	Unavailable	4.62%	1

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 204.47,
  "tradingDate": "2026-09-17",
  "marketCap": null,
  "source": "Yahoo Finance completed daily-bar snapshot; not live"
}

Company & operating context

SIMON PROPERTY GROUP INC. is an SEC-reporting issuer listed on NYSE under SPG. Its SEC industry description is Real Estate Investment Trusts. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Property owners and infrastructure REITs depend on occupancy, contractual income and financing. GAAP earnings and cash flow do not substitute for a reconciled FFO measure.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-25PERIOD / 2025-12-31

Annual-disclosure reading guide for SPG: Occupancy, leasing spreads, maturity schedules and reconciled FFO disclosures. Filing metadata only; this note is not a substantive review of the full document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0138SPGCompany Research

SPG: reading the FY2025 financial structure ↗

SIMON PROPERTY GROUP INC.

Research abstract

Annual revenue of USD 6.365 billion and net income of USD 5.364 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Lease rollover, refinancing, development costs, tenant concentration and property values.

Occupancy, leasing spreads, maturity schedules and reconciled FFO disclosures.

REAL ESTATE SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-25
SEC annual filing · 2024-12-31 ↗Source date 2026-02-25
SEC annual filing · 2023-12-31 ↗Source date 2026-02-25
SEC annual filing · 2022-12-31 ↗Source date 2025-02-21
SEC issuer record ↗Source date 2026-09-18