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NYSE · Real Estate

SIMON PROPERTY GROUP INC. (SPG)

As-reported financials and SEC filings for SIMON PROPERTY GROUP INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About SIMON PROPERTY GROUP INC.

Simon Property Group Inc. operates as a real estate investment trust specializing in retail real estate. The company owns and manages shopping malls, premium outlet centers, and other retail properties across the United States. It serves retailers and consumers by providing commercial spaces for retail businesses.

Snapshot

Revenue
$6.36B
Revenue growth (YoY)
6.7%
Net income
$5.36B
Diluted EPS
$14.17
Gross margin
Operating margin
49.9%
Net margin
84.3%
FCF margin
50.3%
ROE
82.9%
net income / fiscal-year-end equity
P/E
14.4×
trailing when available, otherwise FY EPS
Market cap
$77.70B
Long-term debt / equity
4.39×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Simon Property Group

  • Revenue grew 6.7% to $6.4B in FY2025, in line with the 5.4% the year before.
  • Operating margin is 49.9% in FY2025, +2.7 pp against 47.2% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.8B, up 19.5% from Q2 FY2025.
  • Free cash flow was $3.2B in FY2025, 50.3% of revenue.
  • Net income rose 96.6% to $5.4B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Simon Property Group’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin49.9%
78th percentile of 81
Net margin84.3%
99th percentile of 156
FCF margin50.3%
88th percentile of 27
Revenue growth (YoY)+6.7%
66th percentile of 161
ROE82.9%
Highest of 142
P/E14.4×
12th percentile of 109
Long-term debt / equity4.39×
92nd percentile of 100
Short interest8.49d
83rd percentile of 154

Simon Property Group’s return on equity of 82.9% is the highest of the 142 REITs reporting it. Simon Property Group’s net margin of 84.3% ranks in the 99th percentile of the 156 REITs reporting it. Simon Property Group’s long-term debt to equity of 4.39 ranks in the 92nd percentile of the 100 REITs reporting it.

28 reported insider purchases (code P) totaling $533,052 in the last 90 days. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+5 quant / multi-strat
Initiated / added
3
0 new, 3 added
Reduced / exited
4
3 trimmed, 1 exited
Combined position
$290.0M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$88.0M393.5KAdded
AQR Capital ManagementquantQ2 2026$85.4M381.6KReduced
Millennium ManagementquantQ2 2026$40.4M180.6KReduced
Citadel AdvisorsquantQ2 2026$33.4M149.4KReduced
Gotham Asset ManagementQ2 2026$24.2M108.4KAdded
D. E. ShawquantQ2 2026$18.6M83.2KAdded

No longer held by: Bridgewater Associates (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
28
11 insiders
Bought (90d)
$533K
code P value
Sells (90d)
0
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-06-30
filed 2026-07-01
LEIBOWITZ REUBEN SDirectorBuy430$223.14$96K
2026-06-30
filed 2026-07-01
GLASSCOCK LARRY CDirectorBuy330$223.14$74K
2026-06-30
filed 2026-07-01
Smith Daniel C.DirectorBuy314$223.14$70K
2026-06-30
filed 2026-07-01
RODKIN GARY MDirectorBuy209$223.14$47K
2026-06-30
filed 2026-07-01
Aeppel GlynDirectorBuy199$223.14$44K
2026-06-30
filed 2026-07-01
SELIG STEFAN MDirectorBuy187$223.14$42K
2026-06-30
filed 2026-07-01
STEWART MARTA RDirectorBuy179$223.14$40K
2026-06-30
filed 2026-07-01
Roe PeggyDirectorBuy80$223.14$18K
2026-06-30
filed 2026-07-01
LEWIS RANDALL JDirectorBuy58$223.14$13K
2026-06-30
filed 2026-07-01
GLASSCOCK LARRY CDirectorBuy54$224.92$12K
2026-06-30
filed 2026-07-01
LEIBOWITZ REUBEN SDirectorBuy53$225.03$12K
2026-06-30
filed 2026-07-01
Smith Daniel C.DirectorBuy47$224.41$11K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
9.5M
settled 2026-08-31
Change vs prior
+9.1%
vs previous settlement
Days to cover
8.49
at avg daily volume
Avg daily volume
1.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-319.5M+9.1%8.49
2026-08-148.7M-10.8%5.83
2026-07-319.8M-4.4%7.26
2026-07-1510.2M-5.7%5.61
2026-06-3010.8M+17.0%3.14
2026-06-159.3M+5.3%4.84
2026-05-298.8M+3.2%5.48
2026-05-158.5M+3.4%6.15

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$6.36B$5.96B$5.66B$5.29B$5.12B
Gross profit
Operating income$3.18B$3.09B$2.81B$2.58B$2.41B
Net income$5.36B$2.73B$2.62B$2.45B$2.57B
Diluted EPS$14.17$7.26$6.98$6.52$6.84

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$823.1M$1.40B$1.17B$621.6M$533.9M
Current assets
Total assets$40.61B$32.41B$34.28B$33.01B$33.78B
Current liabilities
Long-term debt$28.43B$24.26B$26.03B$24.96B$25.32B
Total liabilities$33.90B$28.81B$30.60B$29.19B$29.38B
Total equity$6.47B$3.41B$3.49B$3.61B$3.85B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$4.14B$3.81B$3.93B$3.77B$3.64B
Capital expenditure$934.3M$755.6M$793.3M$650.0M$527.9M
Free cash flow$3.20B$3.06B$3.14B$3.12B$3.11B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.79B19.5%$574.1M$1.49
Q1 FY2026$1.76B19.3%$568.5M$1.48
Q4 FY2025$1.79B13.2%$3.54B$10.85
Q3 FY2025$1.60B8.2%$702.7M$1.86
Q2 FY2025$1.50B2.8%$643.7M$1.70
Q1 FY2025$1.47B2.1%$477.9M$1.27
Q4 FY2024$1.58B3.6%$771.8M$2.37
Q3 FY2024$1.48B4.9%$546.7M$1.46

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2014
SEC CIK1063761

Selected SEC filings

10-K2026-02-25
View on EDGAR →
10-K2025-02-21
View on EDGAR →
10-Q2026-08-10
View on EDGAR →
10-Q2026-05-11
View on EDGAR →
10-Q2025-11-06
View on EDGAR →
10-Q2025-08-07
View on EDGAR →
8-K2026-08-10
View on EDGAR →
8-K/A2026-05-15
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.