SIMON PROPERTY GROUP INC (SPG) Stock Fundamental Analysis
USA - NYSE:SPG - US8288061091 - REIT
178.53 USD
+1.79 (+1.01%)
SPG gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. While SPG has a great profitability rating, there are quite some concerns on its financial health. SPG has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year SPG was profitable.
In the past year SPG had a positive cash flow from operations.
Each year in the past 5 years SPG has been profitable.
In the past 5 years SPG always reported a positive cash flow from operatings.
1.2 Ratios
SPG has a better Return On Assets (6.34%) than 98.45% of its industry peers.
SPG has a better Return On Equity (86.16%) than 100.00% of its industry peers.
SPG's Return On Invested Capital of 8.26% is amongst the best of the industry. SPG outperforms 100.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SPG is above the industry average of 3.01%.
The 3 year average ROIC (7.62%) for SPG is below the current ROIC(8.26%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.34% | ||
| ROE | 86.16% | ||
| ROIC | 8.26% |
ROA(3y)6.81%
ROA(5y)6.05%
ROE(3y)74.65%
ROE(5y)65.46%
ROIC(3y)7.62%
ROIC(5y)6.84%
1.3 Margins
SPG has a better Profit Margin (35.00%) than 88.37% of its industry peers.
SPG's Profit Margin has improved in the last couple of years.
The Operating Margin of SPG (50.96%) is better than 92.25% of its industry peers.
In the last couple of years the Operating Margin of SPG has remained more or less at the same level.
With an excellent Gross Margin value of 82.17%, SPG belongs to the best of the industry, outperforming 82.17% of the companies in the same industry.
SPG's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 50.96% | ||
| PM (TTM) | 35% | ||
| GM | 82.17% |
OM growth 3Y3.22%
OM growth 5Y0.52%
PM growth 3Y-3.3%
PM growth 5Y1.72%
GM growth 3Y0.61%
GM growth 5Y0.06%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SPG is creating some value.
The number of shares outstanding for SPG remains at a similar level compared to 1 year ago.
The number of shares outstanding for SPG has been increased compared to 5 years ago.
The debt/assets ratio for SPG has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.25, we must say that SPG is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.25, SPG belongs to the top of the industry, outperforming 85.27% of the companies in the same industry.
The Debt to FCF ratio of SPG is 8.08, which is on the high side as it means it would take SPG, 8.08 years of fcf income to pay off all of its debts.
SPG has a better Debt to FCF ratio (8.08) than 93.80% of its industry peers.
SPG has a Debt/Equity ratio of 10.36. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 10.36, SPG is doing worse than 94.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 10.36 | ||
| Debt/FCF | 8.08 | ||
| Altman-Z | 1.25 |
ROIC/WACC1.19
WACC6.92%
2.3 Liquidity
SPG has a Current Ratio of 0.52. This is a bad value and indicates that SPG is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.52, SPG is doing worse than 79.84% of the companies in the same industry.
SPG has a Quick Ratio of 0.52. This is a bad value and indicates that SPG is not financially healthy enough and could expect problems in meeting its short term obligations.
SPG's Quick ratio of 0.52 is on the low side compared to the rest of the industry. SPG is outperformed by 76.74% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.52 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
SPG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -17.79%.
The Earnings Per Share has been growing slightly by 1.29% on average over the past years.
Looking at the last year, SPG shows a small growth in Revenue. The Revenue has grown by 3.34% in the last year.
SPG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.71% yearly.
EPS 1Y (TTM)-17.79%
EPS 3Y5.29%
EPS 5Y1.29%
EPS Q2Q%12.58%
Revenue 1Y (TTM)3.34%
Revenue growth 3Y5.24%
Revenue growth 5Y0.71%
Sales Q2Q%4.84%
3.2 Future
SPG is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.33% yearly.
The Revenue is expected to grow by 4.16% on average over the next years.
EPS Next Y-10.06%
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
EPS Next 5Y-0.33%
Revenue Next Year5.63%
Revenue Next 2Y4.56%
Revenue Next 3Y4.27%
Revenue Next 5Y4.16%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
SPG is valuated quite expensively with a Price/Earnings ratio of 27.59.
Based on the Price/Earnings ratio, SPG is valued a bit cheaper than 67.44% of the companies in the same industry.
SPG's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.29.
With a Price/Forward Earnings ratio of 25.74, SPG can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, SPG is valued cheaper than 82.17% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.85. SPG is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.59 | ||
| Fwd PE | 25.74 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, SPG is valued more expensive than 80.62% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, SPG is valued a bit cheaper than the industry average as 78.29% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.55 | ||
| EV/EBITDA | 18.19 |
4.3 Compensation for Growth
SPG has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)21.42
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
5. Dividend
5.1 Amount
SPG has a Yearly Dividend Yield of 4.81%, which is a nice return.
SPG's Dividend Yield is comparable with the industry average which is at 6.99.
Compared to an average S&P500 Dividend Yield of 2.38, SPG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.81% |
5.2 History
The dividend of SPG decreases each year by -0.48%.
SPG has been paying a dividend for at least 10 years, so it has a reliable track record.
SPG has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-0.48%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
129.23% of the earnings are spent on dividend by SPG. This is not a sustainable payout ratio.
The Dividend Rate of SPG has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP129.23%
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
NYSE:SPG (10/17/2025, 3:24:09 PM)
178.53
+1.79 (+1.01%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners92.04%
Inst Owner Change-0.02%
Ins Owners0.15%
Ins Owner Change0.32%
Market Cap58.29B
Analysts75.38
Price Target193.05 (8.13%)
Short Float %1.89%
Short Ratio3.55
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.81% |
Yearly Dividend8.12
Dividend Growth(5Y)-0.48%
DP129.23%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.63%
Min EPS beat(2)-9.93%
Max EPS beat(2)4.67%
EPS beat(4)2
Avg EPS beat(4)-2.09%
Min EPS beat(4)-9.93%
Max EPS beat(4)4.92%
EPS beat(8)5
Avg EPS beat(8)11.3%
EPS beat(12)7
Avg EPS beat(12)9.82%
EPS beat(16)10
Avg EPS beat(16)11.77%
Revenue beat(2)0
Avg Revenue beat(2)-2.14%
Min Revenue beat(2)-3.94%
Max Revenue beat(2)-0.33%
Revenue beat(4)2
Avg Revenue beat(4)-0.71%
Min Revenue beat(4)-3.94%
Max Revenue beat(4)1.38%
Revenue beat(8)4
Avg Revenue beat(8)-0.28%
Revenue beat(12)6
Avg Revenue beat(12)0.97%
Revenue beat(16)10
Avg Revenue beat(16)2.57%
PT rev (1m)1.75%
PT rev (3m)2.53%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.47%
EPS NY rev (1m)0.08%
EPS NY rev (3m)0.54%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.38%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)-1.58%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.59 | ||
| Fwd PE | 25.74 | ||
| P/S | 9.66 | ||
| P/FCF | 18.55 | ||
| P/OCF | 14.5 | ||
| P/B | 23.78 | ||
| P/tB | 23.78 | ||
| EV/EBITDA | 18.19 |
EPS(TTM)6.47
EY3.62%
EPS(NY)6.94
Fwd EY3.89%
FCF(TTM)9.63
FCFY5.39%
OCF(TTM)12.32
OCFY6.9%
SpS18.48
BVpS7.51
TBVpS7.51
PEG (NY)N/A
PEG (5Y)21.42
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.34% | ||
| ROE | 86.16% | ||
| ROCE | 10.46% | ||
| ROIC | 8.26% | ||
| ROICexc | 8.62% | ||
| ROICexgc | 9.05% | ||
| OM | 50.96% | ||
| PM (TTM) | 35% | ||
| GM | 82.17% | ||
| FCFM | 52.08% |
ROA(3y)6.81%
ROA(5y)6.05%
ROE(3y)74.65%
ROE(5y)65.46%
ROIC(3y)7.62%
ROIC(5y)6.84%
ROICexc(3y)7.91%
ROICexc(5y)7.07%
ROICexgc(3y)7.92%
ROICexgc(5y)7.08%
ROCE(3y)9.64%
ROCE(5y)8.65%
ROICexcg growth 3Y12.01%
ROICexcg growth 5Y1.19%
ROICexc growth 3Y12.04%
ROICexc growth 5Y1.24%
OM growth 3Y3.22%
OM growth 5Y0.52%
PM growth 3Y-3.3%
PM growth 5Y1.72%
GM growth 3Y0.61%
GM growth 5Y0.06%
F-Score5
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 10.36 | ||
| Debt/FCF | 8.08 | ||
| Debt/EBITDA | 5.64 | ||
| Cap/Depr | 61.61% | ||
| Cap/Sales | 14.56% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 89.33% | ||
| Profit Quality | 148.78% | ||
| Current Ratio | 0.52 | ||
| Quick Ratio | 0.52 | ||
| Altman-Z | 1.25 |
F-Score5
WACC6.92%
ROIC/WACC1.19
Cap/Depr(3y)55.12%
Cap/Depr(5y)48.18%
Cap/Sales(3y)12.99%
Cap/Sales(5y)11.96%
Profit Quality(3y)137.57%
Profit Quality(5y)143.45%
High Growth Momentum
Growth
EPS 1Y (TTM)-17.79%
EPS 3Y5.29%
EPS 5Y1.29%
EPS Q2Q%12.58%
EPS Next Y-10.06%
EPS Next 2Y-2.25%
EPS Next 3Y-0.35%
EPS Next 5Y-0.33%
Revenue 1Y (TTM)3.34%
Revenue growth 3Y5.24%
Revenue growth 5Y0.71%
Sales Q2Q%4.84%
Revenue Next Year5.63%
Revenue Next 2Y4.56%
Revenue Next 3Y4.27%
Revenue Next 5Y4.16%
EBIT growth 1Y3.35%
EBIT growth 3Y8.62%
EBIT growth 5Y1.24%
EBIT Next Year59.25%
EBIT Next 3Y19.29%
EBIT Next 5Y13.34%
FCF growth 1Y1.24%
FCF growth 3Y-0.54%
FCF growth 5Y0.85%
OCF growth 1Y4.93%
OCF growth 3Y1.6%
OCF growth 5Y0.04%