Simon Property Group (SPG) Financials

$162.89 -1.60 (-0.97%)

As of 03:58 PM Eastern

Annual Income Statements for Simon Property Group

This table shows Simon Property Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	2,368	2,280	2,136	2,246	1,109	2,098	2,437	1,945	1,836	1,824
Consolidated Net Income / (Loss)	2,729	2,617	2,452	2,569	1,277	2,423	2,822	2,245	2,135	2,139
Net Income / (Loss) Continuing Operations	2,746	2,723	2,447	2,362	1,392	2,405	2,822	2,245	2,174	2,139
Total Pre-Tax Income	2,110	2,347	1,943	1,744	1,187	1,991	2,095	2,265	1,766	1,624
Total Operating Income	3,093	2,807	2,584	2,413	1,972	2,913	2,926	2,802	2,721	2,669
Total Gross Profit	5,859	5,562	4,734	4,605	4,177	5,655	5,546	4,987	5,328	5,158
Total Revenue	5,964	5,659	5,291	5,117	4,608	5,755	5,645	5,527	5,435	5,266
Operating Revenue	5,964	5,659	5,291	5,117	4,608	5,755	5,645	5,527	5,435	5,266
Total Cost of Revenue	105	97	558	512	430	100	100	540	107	108
Operating Cost of Revenue	105	97	558	512	430	100	100	540	100	101
Total Operating Expenses	2,766	2,758	2,150	2,191	2,206	2,727	2,619	2,185	2,607	2,489
Selling, General & Admin Expense	194	226	187	171	160	140	141	183	182	163
Marketing Expense	145	127	108	114	99	150	151	151	143	135
Depreciation Expense	1,265	1,262	1,227	1,263	1,318	1,341	1,282	1,275	1,253	1,178
Other Operating Expenses / (Income)	1,162	1,139	628	644	629	1,111	1,045	575	1,030	1,014
Total Other Income / (Expense), net	-983	-460	-640	-669	-784	-922	-831	-538	-955	-1,045
Interest Expense	906	855	761	848	784	906	816	938	994	1,045
Interest & Investment Income	-76	-	-	-	-	-	-	-	-	-
Other Income / (Expense), net	-0.90	395	121	179	-	-17	-15	400	39	-
Income Tax Expense	23	-	84	157	-4.64	30	37	23	30	20
Other Gains / (Losses), net	658	376	587	775	200	444	764	3.65	438	535
Preferred Stock Dividends Declared	3.34	3.34	3.34	3.34	3.34	3.34	3.34	3.34	3.34	3.34
Net Income / (Loss) Attributable to Noncontrolling Interest	358	334	313	319	165	322	382	297	296	312
Basic Earnings per Share	$7.26	$6.98	$6.52	$6.84	$3.59	$6.81	$7.87	$6.24	$5.87	$5.88
Weighted Average Basic Shares Outstanding	326.28M	325.90M	326.93M	328.60M	328.50M	306.87M	308.97M	320.34M	319.83M	314.81M
Diluted Earnings per Share	$7.26	$6.98	-	-	-	$0.00	$7.87	$6.24	$5.87	$5.88
Weighted Average Diluted Shares Outstanding	326.28M	325.90M	326.93M	328.60M	328.50M	306.87M	308.97M	320.34M	319.83M	314.81M
Weighted Average Basic & Diluted Shares Outstanding	326.28M	325.90M	326.93M	328.60M	328.50M	306.87M	308.97M	320.34M	319.83M	314.81M
Cash Dividends to Common per Share	$8.10	$7.45	$6.90	$5.85	$6.00	$8.30	$7.90	$7.15	$6.50	$6.05

This table shows Simon Property Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	667	475	493	732	747	594	486	452	674	539
Consolidated Net Income / (Loss)	772	547	569	841	859	681	558	519	773	622
Net Income / (Loss) Continuing Operations	784	548	572	841	955	686	562	519	766	605
Total Pre-Tax Income	427	600	575	508	559	736	567	485	444	464
Total Operating Income	836	768	754	735	792	694	658	663	684	652
Total Gross Profit	1,949	1,317	1,302	1,291	1,865	1,252	1,228	1,217	1,243	1,173
Total Revenue	1,582	1,481	1,458	1,443	1,527	1,411	1,370	1,351	1,400	1,316
Operating Revenue	1,582	1,481	1,458	1,443	1,527	1,411	1,370	1,351	1,400	1,316
Total Cost of Revenue	-367	164	156	152	-337	159	141	134	157	142
Operating Cost of Revenue	-367	164	156	152	-337	159	141	134	157	142
Total Operating Expenses	1,113	549	548	556	1,075	558	570	554	559	521
Selling, General & Admin Expense	45	47	52	50	66	50	55	55	56	39
Marketing Expense	44	34	39	28	41	29	34	24	35	27
Depreciation Expense	328	320	310	307	320	315	320	307	317	302
Other Operating Expenses / (Income)	697	147	147	170	646	163	162	168	151	154
Total Other Income / (Expense), net	-409	-168	-179	-227	-233	41	-91	-178	-240	-188
Interest Expense	227	226	221	231	225	212	218	199	201	188
Interest & Investment Income	-188	59	42	11	-	95	90	-	-	-
Other Income / (Expense), net	6.29	0.00	0.00	-7.19	178	158	36	22	-39	0.00
Income Tax Expense	-32	2.61	4.96	48	-	43	10	-13	52	8.26
Other Gains / (Losses), net	325	-49	2.41	380	356	-6.18	5.62	21	375	149
Preferred Stock Dividends Declared	0.84	0.83	0.83	0.83	0.84	0.83	0.83	0.83	0.84	0.83
Net Income / (Loss) Attributable to Noncontrolling Interest	104	71	75	109	111	86	70	67	98	82
Basic Earnings per Share	$2.04	$1.46	$1.51	$2.25	$2.29	$1.82	$1.49	$1.38	$2.06	$1.65
Weighted Average Basic Shares Outstanding	326.28M	326.28M	326.04M	325.94M	325.90M	326.25M	327.20M	327.00M	326.93M	326.95M
Weighted Average Diluted Shares Outstanding	326.28M	326.28M	326.04M	325.94M	325.90M	326.25M	327.20M	327.00M	326.93M	326.95M
Weighted Average Basic & Diluted Shares Outstanding	326.28M	326.28M	326.04M	325.94M	325.90M	326.25M	327.20M	327.00M	326.93M	326.95M
Cash Dividends to Common per Share	$2.10	$2.05	$2.00	$1.95	$1.90	$1.90	$1.85	$1.80	$1.80	$1.75

This table details how cash moves in and out of Simon Property Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	231	407	88	-478	342	155	-968	922	-141	89
Net Cash From Operating Activities	3,815	3,931	3,767	3,637	2,327	3,808	3,751	3,594	3,373	3,025
Net Cash From Continuing Operating Activities	3,815	3,931	3,767	3,637	2,327	3,808	3,751	3,594	3,373	3,025
Net Income / (Loss) Continuing Operations	2,729	2,617	2,452	2,569	1,277	2,423	2,822	2,245	2,135	2,139
Consolidated Net Income / (Loss)	2,729	2,617	2,452	2,569	1,277	2,423	2,822	2,245	2,135	2,139
Depreciation Expense	1,360	1,334	1,292	1,326	1,355	1,394	1,350	1,357	1,328	1,239
Non-Cash Adjustments To Reconcile Net Income	-202	-278	-127	-649	119	27	-413	51	15	-277
Changes in Operating Assets and Liabilities, net	-72	258	149	392	-425	-36	-8.65	-59	-105	-77
Net Cash From Investing Activities	1,408	-1,363	-627	-553	-3,978	-1,077	-237	-761	-969	-1,463
Net Cash From Continuing Investing Activities	1,408	-1,363	-627	-553	-3,978	-1,083	-237	-761	-969	-1,463
Purchase of Property, Plant & Equipment	-756	-793	-650	-528	-484	-876	-782	-732	-798	-1,021
Acquisitions	-56	-66	-203	-257	-3,607	-13	-51	-264	-500	-1,411
Purchase of Investments	-954	-1,116	-302	-91	-224	-438	-85	-182	-351	-389
Sale of Property, Plant & Equipment	55	0.00	60	3.00	33	-	183	20	37	33
Sale and/or Maturity of Investments	3,097	603	499	309	280	229	472	461	576	1,326
Other Investing Activities, net	22	8.37	-29	11	23	14	26	-64	68	0.00
Net Cash From Financing Activities	-4,992	-2,020	-3,052	-3,562	1,994	-2,576	-4,482	-1,910	-2,545	-1,473
Net Cash From Continuing Financing Activities	-4,992	-2,161	-3,052	-3,562	1,994	-2,576	-4,482	-1,910	-2,289	-1,473
Repayment of Debt	-2,969	-2,659	-3,722	-10,127	-12,955	-12,528	-9,119	-10,585	-14,787	-9,233
Repurchase of Preferred Equity	-7.50	-2.50	-	0.00	-	-	-	-	-	-
Repurchase of Common Equity	0.00	-141	-180	0.00	-	-360	-354	-	-0.33	-
Payment of Dividends	-3,067	-2,839	-2,620	-2,696	-1,672	-2,991	-2,899	-2,583	-2,366	-2,204
Issuance of Debt	1,096	3,630	3,449	9,251	15,235	13,312	7,974	11,668	14,866	10,469
Issuance of Common Equity	9.81	9.81	30	21	0.22	0.14	0.16	0.38	1.51	4.55
Other Financing Activities, net	-53	-160	-8.97	-12	1,387	-10	-85	-410	-4.30	-509

This table details how cash moves in and out of Simon Property Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-770	936	-17	82	259	-68	-318	534	20	60
Net Cash From Operating Activities	1,086	893	1,063	773	1,037	936	1,129	829	932	942
Net Cash From Continuing Operating Activities	1,086	893	1,063	773	1,037	936	1,129	829	932	942
Net Income / (Loss) Continuing Operations	772	547	569	841	859	681	558	519	773	622
Consolidated Net Income / (Loss)	772	547	569	841	859	681	558	519	773	622
Depreciation Expense	361	342	333	325	339	333	339	322	336	316
Non-Cash Adjustments To Reconcile Net Income	-47	82	71	-307	-223	-146	7.41	84	-236	-70
Changes in Operating Assets and Liabilities, net	0.14	-77	90	-86	62	68	226	-97	59	73
Net Cash From Investing Activities	8.82	811	-105	693	-871	-180	-153	-160	-262	-137
Net Cash From Continuing Investing Activities	8.82	811	-105	693	-871	-180	-153	-160	-262	-137
Purchase of Property, Plant & Equipment	-218	-186	-188	-163	-178	-228	-221	-166	-185	-156
Acquisitions	-56	-	-	0.00	-38	-	-	-28	-173	-16
Purchase of Investments	-207	-109	-9.02	-629	-1,053	-46	-6.25	-11	-2.77	-16
Sale and/or Maturity of Investments	373	1,106	41	1,576	390	97	68	48	95	51
Other Investing Activities, net	62	0.92	51	-91	8.04	-2.50	6.41	-3.59	2.74	-1.06
Net Cash From Financing Activities	-1,864	-769	-975	-1,384	234	-825	-1,294	-135	-650	-744
Net Cash From Continuing Financing Activities	-1,864	-769	-975	-1,384	93	-825	-1,294	-135	-650	-744
Repayment of Debt	-1,067	-1,013	-219	-670	-857	-149	-785	-867	-871	-68
Payment of Dividends	-801	-775	-753	-739	-726	-735	-696	-682	-687	-665
Issuance of Common Equity	5.30	1.77	1.01	1.73	1.75	-	1.61	6.46	-	11
Other Financing Activities, net	-1.51	-0.08	-6.35	-45	-143	-0.24	-11	-5.57	-0.18	-0.08

This table presents Simon Property Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	32,406	34,283	33,011	33,777	34,787	31,232	30,686	32,258	31,104	30,565
Total Current Assets	2,197	1,995	1,445	1,454	2,248	1,502	1,278	2,225	1,225	1,326
Cash & Equivalents	1,400	1,169	622	534	1,012	669	514	1,482	560	701
Accounts Receivable	797	826	824	920	1,237	832	764	743	665	625
Plant, Property, & Equipment, net	21,195	21,568	21,763	22,311	23,158	-13,906	0.00	-11,936	-10,866	-9,915
Plant, Property & Equipment, gross	40,242	39,285	38,327	37,932	38,050	-	-	-	-	-
Accumulated Depreciation	19,047	17,717	16,564	15,621	14,892	13,906	-	11,936	10,866	9,915
Total Noncurrent Assets	9,014	9,720	9,803	10,013	9,380	43,636	29,408	41,969	40,745	39,155
Long-Term Investments	7,124	8,118	8,147	8,042	7,785	4,103	3,990	4,201	4,165	4,425
Other Noncurrent Operating Assets	1,889	1,602	1,656	1,970	1,595	39,533	25,418	37,767	36,580	34,730
Total Liabilities & Shareholders' Equity	32,406	34,283	33,011	33,777	34,787	31,232	30,686	32,258	31,104	30,565
Total Liabilities	28,806	30,596	29,187	29,377	31,129	28,101	26,659	27,828	26,006	25,323
Total Current Liabilities	1,715	1,695	1,494	1,435	1,799	0.00	0.00	1,269	1,214	2,692
Accounts Payable	1,712	1,693	1,492	1,433	1,312	-	-	1,269	1,214	1,324
Dividends Payable	2.41	1.84	2.00	1.47	487	-	-	-	-	-
Total Noncurrent Liabilities	27,091	28,901	27,694	27,942	29,330	28,101	26,659	26,559	24,792	22,631
Long-Term Debt	24,264	26,033	24,960	25,321	26,723	24,163	23,306	24,632	22,977	22,417
Other Noncurrent Operating Liabilities	2,827	2,867	2,734	2,621	2,606	3,938	3,354	1,927	1,815	214
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	185	196	212	548	186	219	230	190	138	26
Total Equity & Noncontrolling Interests	3,415	3,492	3,612	3,853	3,472	2,911	3,797	4,239	4,960	5,216
Total Preferred & Common Equity	2,942	3,023	3,139	3,361	3,039	2,526	3,297	3,686	4,310	4,471
Preferred Stock	41	41	41	42	42	42	-	43	43	44
Total Common Equity	2,901	2,982	3,097	3,320	2,997	2,484	3,297	3,643	4,267	4,428
Common Stock	11,583	11,406	11,233	11,213	11,180	9,756	3,254	9,615	9,523	9,384
Retained Earnings	-6,383	-6,096	-5,927	-5,824	-6,102	-5,380	-	-4,782	-4,459	-4,267
Treasury Stock	-2,106	-2,156	-2,044	-1,884	-1,891	-1,774	-	-1,079	-683	-437
Accumulated Other Comprehensive Income / (Loss)	-193	-173	-165	-185	-189	-119	-	-110	-114	-253
Noncontrolling Interest	473	469	473	492	433	385	500	553	649	745

This table presents Simon Property Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	32,406	33,276	33,377	33,697	34,283	32,965	32,819	33,298	33,011	32,795
Total Current Assets	2,197	2,938	2,028	2,045	1,995	1,527	1,576	1,935	1,445	1,396
Cash & Equivalents	1,400	2,170	1,234	1,251	1,169	769	837	1,155	622	602
Accounts Receivable	797	768	793	793	826	758	738	780	824	795
Plant, Property, & Equipment, net	21,195	21,314	21,366	21,480	21,568	21,541	21,623	21,682	21,763	21,737
Plant, Property & Equipment, gross	40,242	39,939	39,664	39,494	39,285	38,952	38,749	38,505	38,327	37,983
Accumulated Depreciation	19,047	18,626	18,298	18,014	17,717	17,410	17,126	16,823	16,564	16,245
Total Noncurrent Assets	9,014	8,724	8,684	8,872	9,720	9,897	9,620	9,680	9,803	9,662
Long-Term Investments	7,124	6,962	7,031	7,222	8,118	8,180	7,960	8,044	8,147	7,645
Other Noncurrent Operating Assets	1,889	1,762	1,653	1,650	1,602	1,716	1,660	1,636	1,656	2,017
Total Liabilities & Shareholders' Equity	32,406	33,276	33,377	33,697	34,283	32,965	32,819	33,298	33,011	32,795
Total Liabilities	28,806	29,954	29,790	29,935	30,596	29,352	29,292	29,621	29,187	28,759
Total Current Liabilities	1,715	1,622	1,629	1,529	1,695	1,630	1,547	1,354	1,494	1,424
Accounts Payable	1,712	1,620	1,627	1,528	1,693	1,626	1,544	1,352	1,492	1,421
Dividends Payable	2.41	2.07	1.74	1.41	1.84	3.35	2.89	2.44	2.00	2.73
Total Noncurrent Liabilities	27,091	28,332	28,161	28,405	28,901	27,722	27,745	28,266	27,694	27,335
Long-Term Debt	24,264	25,418	25,288	25,519	26,033	24,917	24,990	25,570	24,960	24,640
Other Noncurrent Operating Liabilities	2,827	2,914	2,873	2,886	2,867	2,805	2,755	2,696	2,734	2,694
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	185	183	189	178	196	202	227	224	212	559
Total Equity & Noncontrolling Interests	3,415	3,139	3,398	3,585	3,492	3,410	3,301	3,453	3,612	3,477
Total Preferred & Common Equity	2,942	2,713	2,945	3,106	3,023	2,953	2,872	3,004	3,139	3,022
Preferred Stock	41	41	41	41	41	41	41	41	41	42
Total Common Equity	2,901	2,672	2,904	3,065	2,982	2,912	2,830	2,962	3,097	2,980
Common Stock	11,583	11,343	11,363	11,371	11,406	11,393	11,211	11,231	11,233	11,231
Retained Earnings	-6,383	-6,358	-6,156	-5,988	-6,096	-6,219	-6,190	-6,070	-5,927	-6,047
Treasury Stock	-2,106	-2,106	-2,136	-2,152	-2,156	-2,121	-2,016	-2,039	-2,044	-2,044
Accumulated Other Comprehensive Income / (Loss)	-193	-206	-167	-166	-173	-141	-176	-161	-165	-161
Noncontrolling Interest	473	426	453	478	469	458	429	449	473	456

This table displays calculated financial ratios and metrics derived from Simon Property Group's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.39%	6.94%	3.41%	11.05%	-19.94%	1.95%	2.13%	1.69%	3.21%	8.12%
EBITDA Growth	-1.84%	13.47%	2.02%	17.76%	-22.46%	0.69%	-6.56%	11.54%	4.61%	6.45%
EBIT Growth	-3.42%	18.37%	4.35%	31.45%	-31.92%	-0.51%	-9.10%	16.02%	3.43%	11.89%
NOPAT Growth	8.97%	13.53%	12.61%	10.92%	-31.00%	-0.21%	3.65%	3.68%	1.49%	13.01%
Net Income Growth	4.28%	6.71%	-4.53%	101.10%	-47.29%	-14.14%	25.72%	5.16%	-0.22%	29.54%
EPS Growth	4.01%	0.00%	0.00%	0.00%	0.00%	-100.00%	26.12%	6.30%	-0.17%	30.09%
Operating Cash Flow Growth	-2.95%	4.36%	3.55%	56.33%	-38.90%	1.52%	4.37%	6.56%	11.51%	10.78%
Free Cash Flow Firm Growth	-6.98%	-5.90%	15.41%	28.46%	-23.51%	-7.27%	24.76%	47.75%	-13.82%	10.94%
Invested Capital Growth	-0.48%	-2.91%	-5.34%	-4.19%	-2.00%	-1.34%	-2.35%	0.12%	3.63%	2.18%
Revenue Q/Q Growth	0.93%	2.31%	1.41%	3.96%	-7.19%	0.46%	0.82%	-0.17%	33.55%	-19.02%
EBITDA Q/Q Growth	-2.33%	7.79%	0.76%	8.64%	-6.75%	-0.22%	0.09%	10.64%	21.56%	-13.25%
EBIT Q/Q Growth	-3.98%	11.31%	1.29%	13.49%	-10.81%	-0.28%	0.31%	16.32%	33.19%	-18.43%
NOPAT Q/Q Growth	0.31%	8.50%	3.64%	3.21%	-12.32%	-0.29%	0.27%	1.80%	32.83%	-18.64%
Net Income Q/Q Growth	-3.11%	3.43%	8.83%	11.31%	-17.86%	-9.11%	6.54%	10.01%	29.65%	-19.21%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-100.00%	6.35%	10.05%	29.87%	-19.12%
Operating Cash Flow Q/Q Growth	1.30%	2.73%	1.27%	-0.28%	-2.70%	-1.04%	3.46%	0.97%	1.02%	0.25%
Free Cash Flow Firm Q/Q Growth	-5.13%	-1.39%	3.31%	12.93%	-8.54%	-4.60%	16.50%	-9.87%	50.24%	-15.57%
Invested Capital Q/Q Growth	0.16%	-0.76%	-2.03%	-1.80%	-0.44%	-0.21%	-0.83%	1.24%	-0.27%	-0.46%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	98.24%	98.28%	89.46%	89.99%	90.67%	98.25%	98.24%	90.23%	98.03%	97.95%
EBITDA Margin	74.65%	80.14%	75.53%	76.57%	72.20%	74.55%	75.48%	82.50%	75.22%	74.21%
Operating Margin	51.86%	49.60%	48.83%	47.16%	42.80%	50.61%	51.84%	50.70%	50.06%	50.68%
EBIT Margin	51.84%	56.58%	51.12%	50.65%	42.80%	50.32%	51.57%	57.94%	50.79%	50.68%
Profit (Net Income) Margin	45.76%	46.25%	46.35%	50.20%	27.72%	42.10%	49.99%	40.61%	39.28%	40.63%
Tax Burden Percent	129.32%	111.51%	126.19%	147.26%	107.57%	121.73%	134.71%	99.13%	120.88%	131.72%
Interest Burden Percent	68.25%	73.31%	71.85%	67.30%	60.22%	68.73%	71.97%	70.71%	63.98%	60.86%
Effective Tax Rate	1.10%	0.00%	4.30%	9.01%	-0.39%	1.51%	1.76%	1.03%	1.68%	1.24%
Return on Invested Capital (ROIC)	15.78%	14.23%	12.01%	10.16%	8.88%	12.65%	12.44%	11.87%	11.66%	11.82%
ROIC Less NNEP Spread (ROIC-NNEP)	13.68%	13.04%	11.89%	12.28%	5.16%	10.32%	12.17%	9.03%	8.62%	8.85%
Return on Net Nonoperating Assets (RNNOA)	59.12%	55.45%	47.62%	53.59%	28.75%	55.06%	54.31%	35.26%	29.63%	26.32%
Return on Equity (ROE)	74.90%	69.68%	59.64%	63.75%	37.63%	67.71%	66.75%	47.13%	41.29%	38.14%
Cash Return on Invested Capital (CROIC)	16.26%	17.18%	17.50%	14.44%	10.90%	14.01%	14.82%	11.75%	8.10%	9.67%
Operating Return on Assets (OROA)	9.27%	9.52%	8.10%	7.56%	5.97%	9.36%	9.25%	10.11%	8.95%	8.88%
Return on Assets (ROA)	8.18%	7.78%	7.34%	7.49%	3.87%	7.83%	8.97%	7.09%	6.92%	7.12%
Return on Common Equity (ROCE)	60.47%	56.39%	46.53%	49.97%	30.39%	54.69%	54.78%	39.13%	34.72%	32.22%
Return on Equity Simple (ROE_SIMPLE)	92.76%	86.58%	78.14%	76.42%	42.02%	95.91%	85.61%	60.90%	49.52%	47.85%
Net Operating Profit after Tax (NOPAT)	3,059	2,807	2,473	2,196	1,980	2,869	2,875	2,773	2,675	2,636
NOPAT Margin	51.29%	49.60%	46.73%	42.91%	42.96%	49.85%	50.92%	50.18%	49.22%	50.05%
Net Nonoperating Expense Percent (NNEP)	2.09%	1.19%	0.12%	-2.12%	3.71%	2.33%	0.28%	2.84%	3.04%	2.98%
Return On Investment Capital (ROIC_SIMPLE)	11.05%	9.51%	8.65%	7.53%	6.56%	10.60%	10.61%	9.61%	9.58%	9.54%
Cost of Revenue to Revenue	1.76%	1.72%	10.54%	10.01%	9.33%	1.75%	1.76%	9.77%	1.97%	2.05%
SG&A Expenses to Revenue	3.26%	4.00%	3.54%	3.34%	3.48%	2.43%	2.49%	3.32%	3.35%	3.10%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	46.38%	48.73%	40.63%	42.83%	47.87%	47.38%	46.40%	39.53%	47.97%	47.27%
Earnings before Interest and Taxes (EBIT)	3,092	3,202	2,705	2,592	1,972	2,896	2,911	3,203	2,760	2,669
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,452	4,535	3,997	3,918	3,327	4,290	4,261	4,560	4,088	3,908
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	19.13	14.66	10.95	13.14	6.93	13.66	11.12	9.87	8.43	8.47
Price to Tangible Book Value (P/TBV)	19.13	14.66	10.95	13.14	6.93	13.66	11.12	9.87	8.43	8.47
Price to Revenue (P/Rev)	9.31	7.73	6.41	8.53	4.51	5.90	6.50	6.50	6.62	7.12
Price to Earnings (P/E)	23.44	19.18	15.87	19.43	18.71	16.17	15.05	18.48	19.60	20.55
Dividend Yield	4.76%	5.56%	6.65%	5.38%	8.84%	7.51%	6.66%	6.18%	5.68%	4.99%
Earnings Yield	4.27%	5.21%	6.30%	5.15%	5.34%	6.18%	6.64%	5.41%	5.10%	4.87%
Enterprise Value to Invested Capital (EV/IC)	3.72	3.15	2.54	2.91	1.78	2.40	2.46	2.38	2.36	2.47
Enterprise Value to Revenue (EV/Rev)	12.06	10.81	9.60	12.01	8.54	9.38	9.96	10.07	10.13	10.56
Enterprise Value to EBITDA (EV/EBITDA)	16.16	13.49	12.72	15.69	11.83	12.58	13.19	12.21	13.47	14.22
Enterprise Value to EBIT (EV/EBIT)	23.27	19.11	18.79	23.71	19.95	18.63	19.31	17.38	19.95	20.83
Enterprise Value to NOPAT (EV/NOPAT)	23.52	21.79	20.55	27.99	19.88	18.81	19.55	20.07	20.58	21.09
Enterprise Value to Operating Cash Flow (EV/OCF)	18.86	15.56	13.49	16.90	16.91	14.17	14.98	15.49	16.33	18.38
Enterprise Value to Free Cash Flow (EV/FCFF)	22.82	18.05	14.11	19.70	16.20	16.99	16.41	20.28	29.64	25.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.74	7.06	6.53	5.75	7.31	7.72	5.79	5.56	4.51	4.28
Long-Term Debt to Equity	6.74	7.06	6.53	5.75	7.31	7.72	5.79	5.56	4.51	4.28
Financial Leverage	4.32	4.25	4.01	4.36	5.57	5.34	4.46	3.90	3.44	2.97
Leverage Ratio	9.15	8.96	8.12	8.51	9.73	8.65	7.44	6.65	5.96	5.36
Compound Leverage Factor	6.25	6.57	5.84	5.73	5.86	5.95	5.36	4.70	3.82	3.26
Debt to Total Capital	87.08%	87.59%	86.72%	85.19%	87.96%	88.53%	85.27%	84.76%	81.84%	81.05%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	87.08%	87.59%	86.72%	85.19%	87.96%	88.53%	85.27%	84.76%	81.84%	81.05%
Preferred Equity to Total Capital	0.15%	0.14%	0.14%	0.14%	0.14%	0.16%	0.00%	0.15%	0.15%	0.16%
Noncontrolling Interests to Total Capital	2.36%	2.24%	2.38%	3.50%	2.04%	2.21%	2.67%	2.56%	2.80%	2.79%
Common Equity to Total Capital	10.41%	10.03%	10.76%	11.17%	9.87%	9.10%	12.06%	12.54%	15.20%	16.01%
Debt to EBITDA	5.45	5.74	6.25	6.46	8.03	5.63	5.47	5.40	5.62	5.74
Net Debt to EBITDA	3.54	3.69	4.05	4.27	5.39	4.52	4.41	4.16	4.46	4.42
Long-Term Debt to EBITDA	5.45	5.74	6.25	6.46	8.03	5.63	5.47	5.40	5.62	5.74
Debt to NOPAT	7.93	9.27	10.10	11.53	13.50	8.42	8.11	8.88	8.59	8.50
Net Debt to NOPAT	5.15	5.97	6.55	7.63	9.06	6.76	6.54	6.83	6.82	6.56
Long-Term Debt to NOPAT	7.93	9.27	10.10	11.53	13.50	8.42	8.11	8.88	8.59	8.50
Altman Z-Score	1.40	1.09	0.87	1.06	0.49	1.03	1.37	1.10	1.10	1.10
Noncontrolling Interest Sharing Ratio	19.27%	19.07%	21.98%	21.62%	19.26%	19.24%	17.93%	16.97%	15.91%	15.53%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	1.18	0.97	1.01	1.25	0.00	0.00	1.75	1.01	0.49
Quick Ratio	1.28	1.18	0.97	1.01	1.25	0.00	0.00	1.75	1.01	0.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,153	3,389	3,602	3,121	2,429	3,176	3,425	2,745	1,858	2,156
Operating Cash Flow to CapEx	544.65%	495.51%	638.01%	692.92%	516.24%	434.68%	626.52%	504.63%	442.66%	306.17%
Free Cash Flow to Firm to Interest Expense	3.48	3.97	4.73	3.68	3.10	3.51	4.20	2.93	1.87	2.06
Operating Cash Flow to Interest Expense	4.21	4.60	4.95	4.29	2.97	4.20	4.60	3.83	3.39	2.90
Operating Cash Flow Less CapEx to Interest Expense	3.44	3.67	4.17	3.67	2.39	3.24	3.86	3.07	2.63	1.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.17	0.16	0.15	0.14	0.19	0.18	0.17	0.18	0.18
Accounts Receivable Turnover	7.35	6.86	6.07	4.75	4.45	7.21	7.49	7.86	8.43	8.74
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.28	0.26	0.24	0.23	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.06	0.06	0.38	0.37	0.00	0.00	0.00	0.44	0.08	0.08
Days Sales Outstanding (DSO)	49.65	53.20	60.12	76.91	81.95	50.61	48.70	46.47	43.29	41.75
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	5,918.33	5,976.25	957.05	978.28	0.00	0.00	0.00	839.11	4,326.83	4,365.44
Cash Conversion Cycle (CCC)	-5,868.67	-5,923.04	-896.93	-901.37	81.95	50.61	48.70	-792.65	-4,283.54	-4,323.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	19,342	19,436	20,018	21,147	22,072	22,521	22,828	23,378	23,350	22,533
Invested Capital Turnover	0.31	0.29	0.26	0.24	0.21	0.25	0.24	0.24	0.24	0.24
Increase / (Decrease) in Invested Capital	-94	-582	-1,129	-925	-450	-307	-550	28	817	480
Enterprise Value (EV)	71,937	61,175	50,822	61,461	39,345	53,968	56,204	55,675	55,059	55,591
Market Capitalization	55,499	43,723	33,903	43,635	20,757	33,931	36,673	35,940	35,977	37,487
Book Value per Share	$8.89	$9.14	$9.47	$10.10	$9.80	$8.09	$10.66	$11.72	$13.58	$14.31
Tangible Book Value per Share	$8.89	$9.14	$9.47	$10.10	$9.80	$8.09	$10.66	$11.72	$13.58	$14.31
Total Capital	27,864	29,721	28,784	29,722	30,382	27,294	27,333	29,062	28,075	27,659
Total Debt	24,264	26,033	24,960	25,321	26,723	24,163	23,306	24,632	22,977	22,417
Total Long-Term Debt	24,264	26,033	24,960	25,321	26,723	24,163	23,306	24,632	22,977	22,417
Net Debt	15,740	16,746	16,192	16,745	17,927	19,391	18,801	18,949	18,252	17,291
Capital Expenditures (CapEx)	700	793	590	525	451	876	599	712	762	988
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-918	-869	-670	-515	-562	832	764	-527	-549	-2,068
Debt-free Net Working Capital (DFNWC)	482	300	-48	19	450	1,502	1,278	956	11	-1,367
Net Working Capital (NWC)	482	300	-48	19	450	1,502	1,278	956	11	-1,367
Net Nonoperating Expense (NNE)	330	190	20	-373	702	446	52	529	540	496
Net Nonoperating Obligations (NNO)	15,742	15,748	16,194	16,746	18,414	19,391	18,801	18,949	18,252	17,291
Total Depreciation and Amortization (D&A)	1,360	1,334	1,292	1,326	1,355	1,394	1,350	1,357	1,328	1,239
Debt-free, Cash-free Net Working Capital to Revenue	-15.40%	-15.36%	-12.66%	-10.07%	-12.20%	14.46%	13.53%	-9.53%	-10.11%	-39.27%
Debt-free Net Working Capital to Revenue	8.08%	5.30%	-0.91%	0.37%	9.76%	26.09%	22.64%	17.29%	0.20%	-25.95%
Net Working Capital to Revenue	8.08%	5.30%	-0.91%	0.37%	9.76%	26.09%	22.64%	17.29%	0.20%	-25.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.26	$6.98	$6.52	$6.84	$3.59	$6.81	$7.87	$6.24	$5.87	$5.88
Adjusted Weighted Average Basic Shares Outstanding	326.28M	325.90M	326.93M	328.60M	328.50M	306.87M	308.97M	320.34M	319.83M	314.81M
Adjusted Diluted Earnings per Share	$7.26	$6.98	$0.00	$0.00	$3.59	$6.81	$7.87	$6.24	$5.87	$5.88
Adjusted Weighted Average Diluted Shares Outstanding	326.28M	325.90M	326.93M	328.60M	328.50M	306.87M	308.97M	320.34M	319.83M	314.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.59	$6.81	$7.87	$6.24	$5.87	$5.88
Adjusted Weighted Average Basic & Diluted Shares Outstanding	326.28M	325.90M	326.93M	328.60M	328.50M	306.87M	308.97M	320.34M	319.83M	314.81M
Normalized Net Operating Profit after Tax (NOPAT)	3,059	1,967	2,473	2,196	1,380	2,854	2,875	2,773	2,675	2,636
Normalized NOPAT Margin	51.29%	34.76%	46.73%	42.91%	29.96%	49.59%	50.92%	50.18%	49.22%	50.05%
Pre Tax Income Margin	35.38%	41.47%	36.73%	34.09%	25.77%	34.59%	37.11%	40.97%	32.49%	30.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.41	3.75	3.55	3.06	2.51	3.20	3.57	3.41	2.78	2.55
NOPAT to Interest Expense	3.38	3.28	3.25	2.59	2.52	3.17	3.52	2.96	2.69	2.52
EBIT Less CapEx to Interest Expense	2.64	2.82	2.78	2.44	1.94	2.23	2.83	2.66	2.01	1.61
NOPAT Less CapEx to Interest Expense	2.60	2.36	2.47	1.97	1.95	2.20	2.79	2.20	1.92	1.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	112.38%	108.47%	106.84%	104.94%	130.94%	123.43%	102.70%	115.06%	110.82%	103.02%
Augmented Payout Ratio	112.38%	113.84%	114.20%	104.94%	130.94%	138.28%	115.25%	115.06%	110.83%	103.02%

This table displays calculated financial ratios and metrics derived from Simon Property Group's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.59%	4.94%	6.47%	6.79%	9.11%	7.23%	7.01%	4.24%	5.56%	1.48%
EBITDA Growth	-8.12%	-6.42%	5.16%	4.54%	33.40%	22.44%	-8.72%	10.06%	3.16%	-11.35%
EBIT Growth	-13.20%	-9.93%	8.60%	6.33%	50.44%	30.70%	-14.99%	15.87%	5.65%	-15.54%
NOPAT Growth	13.39%	16.98%	15.77%	-2.17%	31.25%	2.01%	7.17%	9.40%	16.36%	19.38%
Net Income Growth	-10.21%	-19.70%	2.14%	61.99%	11.23%	9.47%	-2.10%	6.34%	34.69%	-20.14%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	4.71%	-4.60%	-5.87%	-6.71%	11.22%	-0.61%	2.59%	4.65%	5.34%	7.65%
Free Cash Flow Firm Growth	-27.81%	-30.93%	-27.30%	-21.56%	-20.68%	-13.66%	-8.49%	-16.94%	20.02%	48.52%
Invested Capital Growth	-0.48%	-1.40%	-2.09%	-2.70%	-2.91%	-4.16%	-4.60%	-4.10%	-5.34%	-5.11%
Revenue Q/Q Growth	6.86%	1.54%	1.09%	-5.55%	8.26%	3.02%	1.39%	-3.50%	6.39%	2.81%
EBITDA Q/Q Growth	8.38%	2.11%	3.22%	-19.57%	10.38%	14.74%	2.62%	2.63%	1.31%	-14.46%
EBIT Q/Q Growth	9.67%	1.81%	3.59%	-24.96%	13.81%	22.76%	1.42%	6.17%	-1.13%	-20.16%
NOPAT Q/Q Growth	17.50%	2.25%	12.20%	-15.88%	21.22%	1.19%	-5.19%	12.85%	-5.79%	6.32%
Net Income Q/Q Growth	41.17%	-4.00%	-32.30%	-2.13%	26.26%	22.11%	7.37%	-32.80%	24.27%	9.20%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	21.58%	-16.02%	37.52%	-25.43%	10.78%	-17.14%	36.30%	-11.10%	-1.01%	-14.47%
Free Cash Flow Firm Q/Q Growth	-4.45%	-10.50%	-3.88%	-12.19%	-8.57%	-5.80%	3.71%	-11.19%	-0.49%	-0.15%
Invested Capital Q/Q Growth	0.16%	0.00%	-1.02%	0.38%	-0.76%	-0.71%	-1.63%	0.16%	-2.03%	-1.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	123.18%	88.92%	89.32%	89.47%	122.07%	88.72%	89.69%	90.09%	88.80%	89.17%
EBITDA Margin	76.01%	74.94%	74.52%	72.98%	85.69%	84.04%	75.45%	74.55%	70.09%	73.61%
Operating Margin	52.82%	51.85%	51.71%	50.96%	51.86%	49.20%	48.04%	49.06%	48.88%	49.57%
EBIT Margin	53.22%	51.85%	51.71%	50.46%	63.51%	60.42%	50.70%	50.68%	46.06%	49.57%
Profit (Net Income) Margin	48.78%	36.92%	39.05%	58.31%	56.27%	48.25%	40.71%	38.44%	55.20%	47.26%
Tax Burden Percent	180.69%	91.13%	99.04%	165.47%	153.68%	92.53%	98.37%	107.02%	174.06%	133.93%
Interest Burden Percent	50.73%	78.13%	76.25%	69.83%	57.65%	86.31%	81.62%	70.87%	68.85%	71.19%
Effective Tax Rate	-7.47%	0.43%	0.86%	9.36%	0.00%	5.87%	1.85%	-2.77%	11.79%	1.78%
Return on Invested Capital (ROIC)	17.46%	15.69%	15.34%	13.43%	14.88%	12.80%	12.69%	13.16%	11.08%	12.11%
ROIC Less NNEP Spread (ROIC-NNEP)	16.66%	14.32%	14.22%	14.52%	15.30%	12.97%	12.15%	12.18%	12.11%	11.99%
Return on Net Nonoperating Assets (RNNOA)	71.99%	66.01%	63.81%	62.68%	65.06%	54.89%	52.23%	50.43%	48.51%	47.47%
Return on Equity (ROE)	89.45%	81.70%	79.15%	76.11%	79.93%	67.69%	64.92%	63.60%	59.59%	59.58%
Cash Return on Invested Capital (CROIC)	16.26%	17.09%	17.36%	17.29%	17.18%	17.18%	17.47%	16.56%	17.50%	16.61%
Operating Return on Assets (OROA)	9.52%	9.25%	9.12%	8.66%	10.68%	10.16%	8.36%	8.12%	7.30%	7.75%
Return on Assets (ROA)	8.72%	6.59%	6.89%	10.01%	9.46%	8.12%	6.72%	6.16%	8.75%	7.39%
Return on Common Equity (ROCE)	72.21%	65.78%	63.80%	61.66%	64.69%	52.14%	49.90%	49.29%	46.49%	44.46%
Return on Equity Simple (ROE_SIMPLE)	0.00%	103.82%	100.21%	94.62%	0.00%	85.69%	86.06%	82.68%	0.00%	74.58%
Net Operating Profit after Tax (NOPAT)	898	764	748	666	792	653	646	681	604	641
NOPAT Margin	56.77%	51.63%	51.27%	46.19%	51.86%	46.31%	47.15%	50.42%	43.11%	48.69%
Net Nonoperating Expense Percent (NNEP)	0.80%	1.36%	1.12%	-1.09%	-0.42%	-0.17%	0.54%	0.98%	-1.03%	0.11%
Return On Investment Capital (ROIC_SIMPLE)	3.25%	2.68%	2.61%	2.29%	2.68%	2.31%	2.28%	2.35%	2.11%	2.28%
Cost of Revenue to Revenue	-23.18%	11.08%	10.69%	10.53%	-22.07%	11.28%	10.31%	9.91%	11.20%	10.83%
SG&A Expenses to Revenue	2.84%	3.17%	3.59%	3.48%	4.30%	3.57%	4.04%	4.07%	3.97%	2.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	70.36%	37.06%	37.60%	38.51%	70.41%	39.51%	41.65%	41.03%	39.92%	39.60%
Earnings before Interest and Taxes (EBIT)	842	768	754	728	970	852	694	685	645	652
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,203	1,110	1,087	1,053	1,309	1,186	1,033	1,007	981	969
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	19.13	20.14	16.43	15.85	14.66	11.24	12.15	11.07	10.95	8.57
Price to Tangible Book Value (P/TBV)	19.13	20.14	16.43	15.85	14.66	11.24	12.15	11.07	10.95	8.57
Price to Revenue (P/Rev)	9.31	9.11	8.17	8.45	7.73	5.92	6.33	6.13	6.41	4.90
Price to Earnings (P/E)	23.44	21.98	18.59	18.98	19.18	14.84	15.99	15.17	15.87	12.99
Dividend Yield	4.76%	4.79%	5.29%	5.10%	5.56%	7.35%	6.85%	7.03%	6.65%	8.65%
Earnings Yield	4.27%	4.55%	5.38%	5.27%	5.21%	6.74%	6.25%	6.59%	6.30%	7.70%
Enterprise Value to Invested Capital (EV/IC)	3.72	3.66	3.39	3.40	3.15	2.52	2.60	2.49	2.54	2.10
Enterprise Value to Revenue (EV/Rev)	12.06	11.97	11.20	11.54	10.81	8.93	9.43	9.33	9.60	8.24
Enterprise Value to EBITDA (EV/EBITDA)	16.16	15.52	14.12	14.48	13.49	11.74	12.85	12.20	12.72	10.84
Enterprise Value to EBIT (EV/EBIT)	23.27	21.97	19.80	20.44	19.11	17.18	19.16	17.82	18.79	16.10
Enterprise Value to NOPAT (EV/NOPAT)	23.52	23.20	21.98	23.04	21.79	19.10	19.89	19.69	20.55	18.02
Enterprise Value to Operating Cash Flow (EV/OCF)	18.86	18.79	17.17	17.12	15.56	12.91	13.38	13.11	13.49	11.56
Enterprise Value to Free Cash Flow (EV/FCFF)	22.82	21.29	19.31	19.40	18.05	14.37	14.53	14.71	14.11	12.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.74	7.65	7.05	6.78	7.06	6.90	7.09	6.95	6.53	6.10
Long-Term Debt to Equity	6.74	7.65	7.05	6.78	7.06	6.90	7.09	6.95	6.53	6.10
Financial Leverage	4.32	4.61	4.49	4.32	4.25	4.23	4.30	4.14	4.01	3.96
Leverage Ratio	9.15	9.55	9.31	9.01	8.96	8.60	8.64	8.38	8.12	7.89
Compound Leverage Factor	4.64	7.46	7.09	6.29	5.16	7.42	7.05	5.94	5.59	5.61
Debt to Total Capital	87.08%	88.44%	87.58%	87.15%	87.59%	87.34%	87.63%	87.43%	86.72%	85.92%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	87.08%	88.44%	87.58%	87.15%	87.59%	87.34%	87.63%	87.43%	86.72%	85.92%
Preferred Equity to Total Capital	0.15%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%
Noncontrolling Interests to Total Capital	2.36%	2.12%	2.22%	2.24%	2.24%	2.31%	2.30%	2.30%	2.38%	3.54%
Common Equity to Total Capital	10.41%	9.30%	10.06%	10.47%	10.03%	10.21%	9.92%	10.13%	10.76%	10.39%
Debt to EBITDA	5.45	5.58	5.46	5.57	5.74	5.92	6.26	6.25	6.25	6.21
Net Debt to EBITDA	3.54	3.57	3.67	3.72	3.69	3.80	4.06	4.00	4.05	4.13
Long-Term Debt to EBITDA	5.45	5.58	5.46	5.57	5.74	5.92	6.26	6.25	6.25	6.21
Debt to NOPAT	7.93	8.34	8.50	8.86	9.27	9.63	9.69	10.09	10.10	10.33
Net Debt to NOPAT	5.15	5.34	5.72	5.92	5.97	6.17	6.28	6.46	6.55	6.87
Long-Term Debt to NOPAT	7.93	8.34	8.50	8.86	9.27	9.63	9.69	10.09	10.10	10.33
Altman Z-Score	1.17	1.11	0.97	0.99	0.88	0.65	0.68	0.66	0.67	0.50
Noncontrolling Interest Sharing Ratio	19.27%	19.48%	19.40%	18.98%	19.07%	22.98%	23.14%	22.49%	21.98%	25.38%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	1.81	1.24	1.34	1.18	0.94	1.02	1.43	0.97	0.98
Quick Ratio	1.28	1.81	1.24	1.34	1.18	0.94	1.02	1.43	0.97	0.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	992	1,038	1,160	1,207	1,374	1,503	1,596	1,539	1,733	1,741
Operating Cash Flow to CapEx	498.26%	479.07%	564.40%	474.37%	581.50%	411.02%	510.56%	499.00%	505.25%	605.35%
Free Cash Flow to Firm to Interest Expense	4.36	4.59	5.24	5.23	6.11	7.08	7.32	7.72	8.62	9.27
Operating Cash Flow to Interest Expense	4.77	3.94	4.80	3.35	4.61	4.41	5.18	4.16	4.64	5.01
Operating Cash Flow Less CapEx to Interest Expense	3.82	3.12	3.95	2.65	3.82	3.34	4.16	3.32	3.72	4.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.16	0.16	0.16
Accounts Receivable Turnover	7.35	7.75	7.63	7.31	6.86	7.13	6.94	6.68	6.07	6.03
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.28	0.28	0.27	0.27	0.26	0.26	0.25	0.24	0.24	0.24
Accounts Payable Turnover	0.06	0.08	0.08	0.08	0.06	0.39	0.40	0.44	0.38	0.62
Days Sales Outstanding (DSO)	49.65	47.11	47.86	49.93	53.20	51.21	52.61	54.60	60.12	60.50
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	5,918.33	4,399.30	4,461.15	4,562.98	5,976.25	940.84	915.48	826.07	957.05	588.96
Cash Conversion Cycle (CCC)	-5,868.67	-4,352.19	-4,413.29	-4,513.06	-5,923.04	-889.62	-862.87	-771.47	-896.93	-528.46
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	19,342	19,310	19,311	19,509	19,436	19,584	19,723	20,050	20,018	20,434
Invested Capital Turnover	0.31	0.30	0.30	0.29	0.29	0.28	0.27	0.26	0.26	0.25
Increase / (Decrease) in Invested Capital	-94	-274	-412	-540	-582	-850	-950	-858	-1,129	-1,101
Enterprise Value (EV)	71,937	70,745	65,416	66,333	61,175	49,400	51,283	49,879	50,822	42,991
Market Capitalization	55,499	53,810	47,711	48,590	43,723	32,732	34,393	32,794	33,903	25,541
Book Value per Share	$8.89	$8.20	$8.91	$9.40	$9.14	$8.90	$8.66	$9.06	$9.47	$9.10
Tangible Book Value per Share	$8.89	$8.20	$8.91	$9.40	$9.14	$8.90	$8.66	$9.06	$9.47	$9.10
Total Capital	27,864	28,740	28,874	29,281	29,721	28,530	28,518	29,247	28,784	28,677
Total Debt	24,264	25,418	25,288	25,519	26,033	24,917	24,990	25,570	24,960	24,640
Total Long-Term Debt	24,264	25,418	25,288	25,519	26,033	24,917	24,990	25,570	24,960	24,640
Net Debt	15,740	16,286	17,022	17,046	16,746	15,968	16,193	16,370	16,192	16,394
Capital Expenditures (CapEx)	218	186	188	163	178	228	221	166	184	156
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-918	-854	-836	-736	-869	-872	-809	-575	-670	-630
Debt-free Net Working Capital (DFNWC)	482	1,316	398	515	300	-103	29	581	-48	-28
Net Working Capital (NWC)	482	1,316	398	515	300	-103	29	581	-48	-28
Net Nonoperating Expense (NNE)	126	218	178	-175	-67	-27	88	162	-169	19
Net Nonoperating Obligations (NNO)	15,742	15,988	15,724	15,747	15,748	15,971	16,196	16,373	16,194	16,397
Total Depreciation and Amortization (D&A)	361	342	333	325	339	333	339	322	336	316
Debt-free, Cash-free Net Working Capital to Revenue	-15.40%	-14.45%	-14.32%	-12.80%	-15.36%	-15.77%	-14.87%	-10.75%	-12.66%	-12.07%
Debt-free Net Working Capital to Revenue	8.08%	22.27%	6.82%	8.96%	5.30%	-1.86%	0.53%	10.86%	-0.91%	-0.54%
Net Working Capital to Revenue	8.08%	22.27%	6.82%	8.96%	5.30%	-1.86%	0.53%	10.86%	-0.91%	-0.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.04	$1.46	$1.51	$2.25	$2.29	$1.82	$1.49	$1.38	$2.06	$1.65
Adjusted Weighted Average Basic Shares Outstanding	326.28M	326.28M	326.04M	325.94M	325.90M	326.25M	327.20M	327.00M	326.93M	326.95M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.65
Adjusted Weighted Average Diluted Shares Outstanding	326.28M	326.28M	326.04M	325.94M	325.90M	326.25M	327.20M	327.00M	326.93M	326.95M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	326.28M	326.28M	326.04M	325.94M	325.90M	326.25M	327.20M	327.00M	326.93M	326.95M
Normalized Net Operating Profit after Tax (NOPAT)	585	764	748	666	554	653	646	464	604	641
Normalized NOPAT Margin	36.97%	51.63%	51.27%	46.19%	36.30%	46.31%	47.15%	34.34%	43.11%	48.69%
Pre Tax Income Margin	27.00%	40.51%	39.43%	35.24%	36.61%	52.14%	41.38%	35.92%	31.71%	35.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.70	3.39	3.41	3.16	4.31	4.02	3.18	3.43	3.21	3.47
NOPAT to Interest Expense	3.95	3.38	3.38	2.89	3.52	3.08	2.96	3.42	3.00	3.41
EBIT Less CapEx to Interest Expense	2.74	2.57	2.56	2.45	3.52	2.94	2.17	2.60	2.29	2.64
NOPAT Less CapEx to Interest Expense	2.99	2.55	2.53	2.18	2.73	2.01	1.95	2.58	2.09	2.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	112.38%	106.22%	100.04%	98.53%	108.47%	110.67%	110.48%	107.88%	106.84%	113.49%
Augmented Payout Ratio	112.38%	107.47%	100.04%	98.53%	113.84%	114.85%	110.48%	107.88%	114.20%	121.50%

Frequently Asked Questions About Simon Property Group's Financials

When does Simon Property Group's fiscal year end?

According to the most recent income statement we have on file, Simon Property Group's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Simon Property Group's net income changed over the last 9 years?

Simon Property Group's net income appears to be on an upward trend, with a most recent value of $2.73 billion in 2024, rising from $2.14 billion in 2015. The previous period was $2.62 billion in 2023. View Simon Property Group's forecast to see where analysts expect Simon Property Group to go next.

What is Simon Property Group's operating income?

Simon Property Group's total operating income in 2024 was $3.09 billion, based on the following breakdown:

Total Gross Profit: $5.86 billion
Total Operating Expenses: $2.77 billion

How has Simon Property Group revenue changed over the last 9 years?

Over the last 9 years, Simon Property Group's total revenue changed from $5.27 billion in 2015 to $5.96 billion in 2024, a change of 13.2%.

How much debt does Simon Property Group have?

Simon Property Group's total liabilities were at $28.81 billion at the end of 2024, a 5.8% decrease from 2023, and a 13.8% increase since 2015.

How much cash does Simon Property Group have?

In the past 9 years, Simon Property Group's cash and equivalents has ranged from $514.34 million in 2018 to $1.48 billion in 2017, and is currently $1.40 billion as of their latest financial filing in 2024.

How has Simon Property Group's book value per share changed over the last 9 years?

Over the last 9 years, Simon Property Group's book value per share changed from 14.31 in 2015 to 8.89 in 2024, a change of -37.9%.

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This page (NYSE:SPG) was last updated on 5/20/2025 by MarketBeat.com Staff

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Simon Property Group (SPG) Financials

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Simon Property Group (SPG) Financials

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