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Simon Property Group
SPGReal EstateGenerated Jul 5, 2026, 08:11 PM UTC
SPG (Simon Property Group) analytical snapshot. Revenue grew +6.9% YoY to $5.66B. 5-year revenue CAGR -0.3%; 10y CAGR +1.7%. Net margin at 46.25% (expanding ▲). Market cap $0 at $226.06 per share. Trailing P/E 32.39, P/S 0.00, P/B 0.00. EV/Operating income ≈ 9.87 (EV $27.70B). Risk: High. Macro: Risk-on · Supportive. Composite analytical score 13 (data confidence 79%). Descriptive analytics from public filings — not investment advice.
Market cap
$0
0.00M shares
Price
$226.06
NYQ
P/E (ttm)
32.39
Revenue (FY)
$5.66B
YoY +6.9%
Net margin
46.25%
▲ 18.52pp
Free cash flow
$3.14B
55.44% margin
Risk level
High
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 50Improving
80% conf
Revenue grew +6.9% YoY to $5.66B. 5-year revenue CAGR -0.3%; 10y CAGR +1.7%. Net margin at 46.25% (expanding ▲).
- Revenue grew +6.9% YoY to $5.66B.
- 5-year revenue CAGR -0.3%; 10y CAGR +1.7%.
- Net margin at 46.25% (expanding ▲).
- Return on equity 88.96%, ROA 8.08%, ROIC 10.32%.
- Gross margin 0.00%, operating margin 49.60%.
- Free cash flow margin 55.44% ($3.14B).
- Net income up ▲ +6.7% YoY.
- Debt/equity 5.81, current ratio —, net debt $27.70B.
- Asset turnover 0.14 — capital efficiency.
Revenue (FY)
$5.66B
YoY +6.9%
Net margin
46.25%
▲ 18.52pp
ROE
88.96%
ROA 8.08%
ROIC
10.32%
EPS (diluted)
$6.98
FY2025
Free cash flow
$3.14B
55.44% margin
Debt / equity
5.81
Cash $543.0M
Current ratio
—
Equity $4.86B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | $4.87B | — | 0.00 | 48.97 | 33.91 | $1.93B | 36.93 |
| 2017 | $5.27B | +8.1% | 0.00 | 50.68 | 40.63 | $2.00B | 49.63 |
| 2018 | $5.44B | +3.2% | 0.00 | 50.06 | 39.28 | $2.57B | 57.91 |
| 2019 | $5.53B | +1.7% | 0.00 | 50.70 | 40.61 | $2.86B | 68.10 |
| 2020 | $5.65B | +2.1% | 0.00 | 51.84 | 49.99 | $2.97B | 111.71 |
| 2021 | $5.76B | +1.9% | 0.00 | 50.61 | 42.10 | $2.93B | 79.72 |
| 2022 | $4.61B | -19.9% | 0.00 | 42.80 | 27.72 | $1.84B | 38.00 |
| 2023 | $5.12B | +11.1% | 0.00 | 47.16 | 50.20 | $3.11B | 81.84 |
| 2024 | $5.29B | +3.4% | 0.00 | 48.83 | 46.35 | $3.12B | 81.13 |
| 2025 | $5.66B | +6.9% | 0.00 | 49.60 | 46.25 | $3.14B | 88.96 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $1.47B | +2.1% | — | 32.44% |
| Jun 30, 2025 | $2.97B | +2.4% | +101.7% | 37.74% |
| Jun 30, 2025 | $1.50B | -48.3% | -49.6% | 74.85% |
| Sep 30, 2025 | $4.57B | +4.4% | +205.2% | 39.89% |
| Sep 30, 2025 | $1.60B | -63.4% | -65.0% | 113.90% |
| Mar 31, 2026 | $1.76B | +19.3% | +9.7% | 32.36% |
Revenue (annual, SEC 10-K)
2016: 4,871
2017: 5,266
2018: 5,435
2019: 5,527
2020: 5,645
2021: 5,755
2022: 4,608
2023: 5,117
2024: 5,291
2025: 5,659
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2016: 1,934
2017: 2,004
2018: 2,574
2019: 2,862
2020: 2,969
2021: 2,932
2022: 1,843
2023: 3,109
2024: 3,117
2025: 3,138
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 25, 2026. Latest quarterly report (10-Q) filed May 11, 2026. 10 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 25, 2026.
- Latest quarterly report (10-Q) filed May 11, 2026.
- 10 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Simon Property Group; broad institutional reporting.
- Recent filers include CAMBRIDGE TRUST CO, CAMBRIDGE TRUST CO, REDDING K G & ASSOCIATED LLC.
- 8 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 12 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 25, 2026
Annual report
Latest 10-Q
May 11, 2026
8-K (recent)
10
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
8
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| CAMBRIDGE TRUST CO | 13F-HR | Apr 21, 2003 |
| CAMBRIDGE TRUST CO | 13F-HR | Aug 18, 2003 |
| REDDING K G & ASSOCIATED LLC | 13F-HR | May 25, 2004 |
| MM Capital LLC | 13F-HR | Feb 14, 2011 |
| REDDING K G & ASSOCIATED LLC | 13F-HR | Jul 6, 2004 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| May 15, 2026 | 8-K | FORM 8-K |
| May 11, 2026 | 8-K | FORM 8-K |
| Mar 24, 2026 | 8-K | FORM 8-K |
| Mar 5, 2026 | 8-K | FORM 8-K |
| Feb 5, 2026 | 8-K | FORM 8-K |
| Feb 5, 2026 | 8-K | FORM 8-K |
| Feb 2, 2026 | 8-K | FORM 8-K |
| Nov 3, 2025 | 8-K | FORM 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -46Deteriorating
62% conf
3 risk signal(s), 1 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. 3 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- Going concern doubt: The term "going concern" appears in 18 recent filing(s) (vs 4 in the prior period). This risk language is ongoing.
- Material weakness in internal controls: The term "material weakness" appears in 46 recent filing(s) (vs 4 in the prior period). This risk language is ongoing.
- NEW: Restatement of financial statements in latest filing: The term "restate" "financial statements" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 8 filing(s).
- Operating cash flow exceeds net income: OCF is 1.50x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: 3 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Restatement of financial statements, Restructuring.
- Ongoing high-severity risk language: Going concern doubt, Material weakness in internal controls.
Revenue
$5.66B
+6.9% YoY
Operating income
$2.81B
+8.6% YoY
Net income
$2.62B
+6.7% YoY
Operating cash flow
$3.93B
+4.4% YoY
Capex
$793.3M
+22.0% YoY
Total assets
$32.41B
-5.5% YoY
Total liabilities
$28.81B
-5.8% YoY
Long-term debt
$24.26B
-6.8% YoY
Filing quality score
65/100
stable
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $5.29B | $5.66B | $367.4M | +6.9% |
| Operating income | $2.58B | $2.81B | $223.5M | +8.6% |
| Net income | $2.45B | $2.62B | $164.6M | +6.7% |
| Operating cash flow | $3.77B | $3.93B | $164.2M | +4.4% |
| Capex | $650.0M | $793.3M | $143.3M | +22.0% |
| Total assets | $34.28B | $32.41B | $-1.88B | -5.5% |
| Total liabilities | $30.60B | $28.81B | $-1.79B | -5.8% |
| Long-term debt | $26.03B | $24.26B | $-1.77B | -6.8% |
| Cash & equivalents | $1.17B | $1.40B | $231.4M | +19.8% |
| Stockholders equity | $3.02B | $2.94B | $-80.9M | -2.7% |
| Interest expense | $761.3M | $854.6M | $93.4M | +12.3% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Removed | AccumulatedAmortizationDeferredFinanceCosts, AmortizationOfDebtDiscountPremium, AmortizationOfFinancingCosts, BelowMarketLeaseAmortizationIncomeAfterYearFive, BelowMarketLeaseAmortizationIncomeNextTwelveMonths, BelowMarketLeaseAmortizationIncomeYearFive, BelowMarketLeaseAmortizationIncomeYearFour, BelowMarketLeaseAmortizationIncomeYearThree, BelowMarketLeaseAmortizationIncomeYearTwo, BelowMarketLeaseGross |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 18 | 4 | Ongoing |
| Material weakness in internal controls | high | 46 | 4 | Ongoing |
| Restatement of financial statements | high | 8 | 0 | NEW |
| Impairment charge | medium | 131 | 4 | Ongoing |
| Restructuring | medium | 21 | 0 | NEW |
| Off-balance sheet arrangements | medium | 188 | 16 | Ongoing |
| Related party transactions | low | 132 | 13 | Ongoing |
Filing signal breakdown
Red flags: 3
Positive: 1
Watch: 1
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $0 at $226.06 per share.
- ProPrice & TechnicalsPrice $226.06 — uptrend (above 200-DMA); 1-month momentum positive.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: High.
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Macro exposure
Rate-sensitive · High sensitivityMacro regime: Risk-on · Supportive. Simon Property Group is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewRevenue grew **+6.9%** YoY to $5.66B..
Risk
High
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Rate-sensitive groupHow SPG stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Capital One Financial COF | 23 | Neutral |
| Chubb Ltd. CB | 23 | Neutral |
| U.S. Bancorp USB | 17 | Neutral |
| JPMorgan Chase & Co. JPM | 16 | Neutral |
| Prologis Inc. PLD | 14 | Neutral |
| Simon Property Group SPG● you | 13 | Neutral |
| American Express Co. AXP | 11 | Neutral |
| Bank of America Corp. BAC | 11 | Neutral |
| Visa Inc. V | 8 | Neutral |
| Mastercard Inc. MA | 8 | Neutral |
| Public Storage PSA | 8 | Neutral |
| Dominion Energy D | 6 | Neutral |
| Charles Schwab Corp. SCHW | 6 | Neutral |
| CME Group Inc. CME | 6 | Neutral |
| PNC Financial Services PNC | 4 | Neutral |
| Realty Income Corp. O | 4 | Neutral |
| Travelers Cos. TRV | 2 | Neutral |
| Duke Energy Corp. DUK | 0 | Neutral |
| Bank of New York Mellon BK | 0 | Neutral |
| Marsh & McLennan MMC | 0 | Neutral |
| Equity Residential EQR | 0 | Neutral |
| Wells Fargo & Co. WFC | -1 | Neutral |
| Welltower Inc. WELL | -1 | Neutral |
| Exelon Corp. EXC | -3 | Neutral |
| NextEra Energy NEE | -4 | Neutral |
| Xcel Energy XEL | -5 | Neutral |
| American International Group AIG | -5 | Neutral |
| Digital Realty Trust DLR | -6 | Neutral |
| Allstate Corp. ALL | -7 | Neutral |
| S&P Global SPGI | -8 | Neutral |
| American Water Works AWK | -9 | Neutral |
| Goldman Sachs Group GS | -10 | Neutral |
| Citigroup Inc. C | -11 | Neutral |
| Moody's Corp. MCO | -13 | Neutral |
| Morgan Stanley MS | -13 | Neutral |
| MetLife Inc. MET | -13 | Neutral |
| BlackRock Inc. BLK | -15 | Neutral |
| Equinix Inc. EQIX | -16 | Neutral |
| American Electric Power AEP | -18 | Neutral |
| Crown Castle Inc. CCI | -18 | Neutral |
| American Tower Corp. AMT | -39 | Neutral |
| Southern Company SO | — | Neutral |
| Truist Financial TFC | — | Neutral |