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Simon Property Group
SPGReal EstateGenerated Aug 19, 2026, 10:31 PM UTC
SPG (Simon Property Group) analytical snapshot. Revenue grew +6.7% YoY to $6.36B. 5-year revenue CAGR +4.5%; 10y CAGR +1.8%. Net margin at 84.28% (expanding ▲). Market cap $0 at $223.18 per share. Trailing P/E 15.75, P/S 0.00, P/B 0.00. EV/Operating income ≈ 8.72 (EV $27.68B). Risk: High. Macro: Risk-on · Supportive. Composite analytical score 15 (data confidence 79%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
Latest annual report (10-K) filed Feb 25, 2026. Latest quarterly report (10-Q) filed Aug 10, 2026. 11 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 25, 2026.
- Latest quarterly report (10-Q) filed Aug 10, 2026.
- 11 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.
- 9 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 11 recent 13G passive institutional ownership notices.
| 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 |
| Date | Form | Description |
|---|---|---|
| Aug 10, 2026 | 8-K | FORM 8-K |
| 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 |
SEC Filing Deep-Analysis
1 risk signal(s), 1 watch item(s) detected from XBRL filing diff analysis. 1 risk signal(s) detected versus 0 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- Material weakness in internal controls: The term "material weakness" "internal control" appears in 1 recent filing(s) (vs 4 in the prior period). This risk language is ongoing.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: 1 risk signal(s) detected versus 0 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.
- 1 new risk-language term(s) detected in filing text: Restructuring.
- Ongoing high-severity risk language: Material weakness in internal controls.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $5.96B | $6.36B | $400.7M | +6.7% |
| Operating income | $3.09B | $3.18B | $82.6M | +2.7% |
| Net income | $2.73B | $5.36B | $2.64B | +96.6% |
| Operating cash flow | $3.81B | $4.14B | $321.9M | +8.4% |
| Capex | $755.6M | $934.3M | $178.8M | +23.7% |
| Total assets | $32.41B | $40.61B | $8.20B | +25.3% |
| Total liabilities | $28.81B | $33.90B | $5.09B | +17.7% |
| Long-term debt | $24.26B | $28.43B | $4.17B | +17.2% |
| Cash & equivalents | $1.40B | $823.1M | $-577.2M | -41.2% |
| Stockholders equity | $2.94B | $5.21B | $2.27B | +77.0% |
| Interest expense | $905.8M | $974.8M | $69.0M | +7.6% |
| Type | Concepts |
|---|---|
| Removed | AccumulatedAmortizationDeferredFinanceCosts, AmortizationOfDebtDiscountPremium, AmortizationOfFinancingCosts, BelowMarketLeaseAmortizationIncomeAfterYearFive, BelowMarketLeaseAmortizationIncomeNextTwelveMonths, BelowMarketLeaseAmortizationIncomeYearFive, BelowMarketLeaseAmortizationIncomeYearFour, BelowMarketLeaseAmortizationIncomeYearThree, BelowMarketLeaseAmortizationIncomeYearTwo, BelowMarketLeaseGross |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 1 | 4 | Ongoing |
| Impairment charge | medium | 5 | 4 | Ongoing |
| Restructuring | medium | 5 | 0 | NEW |
| Off-balance sheet arrangements | medium | 5 | 16 | Ongoing |
| Related party transactions | low | 5 | 4 | Ongoing |
Fundamentals
Revenue grew +6.7% YoY to $6.36B. 5-year revenue CAGR +4.5%; 10y CAGR +1.8%. Net margin at 84.28% (expanding ▲).
- Revenue grew +6.7% YoY to $6.36B.
- 5-year revenue CAGR +4.5%; 10y CAGR +1.8%.
- Net margin at 84.28% (expanding ▲).
- Return on equity 102.99%, ROA 13.21%, ROIC 9.44%.
- Gross margin 0.00%, operating margin 49.89%.
- Free cash flow margin 50.31% ($3.20B).
- Net income up ▲ +96.6% YoY.
- Debt/equity 6.47, current ratio —, net debt $27.68B.
- Asset turnover 0.16 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $5.96B | +5.4% | 0.00 | 51.86 | 45.76 | $3.06B | 92.76 |
| 2025 | $6.36B | +6.7% | 0.00 | 49.89 | 84.28 | $3.20B | 102.99 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 30, 2024 | $1.48B | +4.9% | — | 36.92% |
| Mar 31, 2025 | $1.47B | +2.1% | -0.5% | 32.44% |
| Jun 30, 2025 | $1.50B | +2.8% | +1.7% | 42.96% |
| Sep 30, 2025 | $1.60B | +8.2% | +6.9% | 43.88% |
| Mar 31, 2026 | $1.76B | +19.3% | +9.7% | 32.36% |
| Jun 30, 2026 | $1.79B | +19.5% | +1.9% | 32.06% |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $0 at $223.18 per share. Trailing P/E 15.75, P/S 0.00, P/B 0.00. EV/Operating income ≈ 8.72 (EV $27.68B).
- Market cap $0 at $223.18 per share.
Price & Technicals
Price $223.18 — uptrend (above 200-DMA); 1-month momentum negative. RSI(14) 33.95.
- Price $223.18 — uptrend (above 200-DMA); 1-month momentum negative.
Macro & Rates
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk High. Leverage debt/equity 6.47 (high). Earnings stability: net-margin stdev 16.60pp over 19y.
- Composite 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.
Analytical read
deterministic previewRevenue grew **+6.7%** YoY to $6.36B..
Peer comparison
Rate-sensitive groupHow SPG stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Allstate Corp. ALL | 30 | Neutral |
| Visa Inc. V | 24 | Neutral |
| CME Group Inc. CME | 22 | Neutral |
| Capital One Financial COF | 21 | Neutral |
| Charles Schwab Corp. SCHW | 19 | Neutral |
| American Express Co. AXP | 16 | Neutral |
| Simon Property Group SPG● you | 15 | Neutral |
| Digital Realty Trust DLR | 11 | Neutral |
| Mastercard Inc. MA | 11 | Neutral |
| U.S. Bancorp USB | 10 | Neutral |
| Travelers Cos. TRV | 10 | Neutral |
| Welltower Inc. WELL | 9 | Neutral |
| Chubb Ltd. CB | 8 | Neutral |
| MetLife Inc. MET | 7 | Neutral |
| JPMorgan Chase & Co. JPM | 7 | Neutral |
| Dominion Energy D | 4 | Neutral |
| Bank of America Corp. BAC | 3 | Neutral |
| Moody's Corp. MCO | 2 | Neutral |
| PNC Financial Services PNC | 2 | Neutral |
| BlackRock Inc. BLK | 1 | Neutral |
| American Tower Corp. AMT | 0 | Neutral |
| American Electric Power AEP | 0 | Neutral |
| Bank of New York Mellon BK | 0 | Neutral |
| Marsh & McLennan MMC | 0 | Neutral |
| Wells Fargo & Co. WFC | 0 | Neutral |
| Truist Financial TFC | -1 | Neutral |
| American Water Works AWK | -2 | Neutral |
| Equinix Inc. EQIX | -4 | Neutral |
| Goldman Sachs Group GS | -4 | Neutral |
| Prologis Inc. PLD | -5 | Neutral |
| Xcel Energy XEL | -5 | Neutral |
| Public Storage PSA | -5 | Neutral |
| Citigroup Inc. C | -5 | Neutral |
| Realty Income Corp. O | -6 | Neutral |
| Equity Residential EQR | -10 | Neutral |
| NextEra Energy NEE | -13 | Neutral |
| Southern Company SO | -14 | Neutral |
| Morgan Stanley MS | -14 | Neutral |
| Duke Energy Corp. DUK | -16 | Neutral |
| Exelon Corp. EXC | -17 | Neutral |
| S&P Global SPGI | -19 | Neutral |
| American International Group AIG | -20 | Neutral |
| Crown Castle Inc. CCI | -21 | Neutral |