SIMON PROPERTY GROUP INC (SPG) Fundamental Analysis & Valuation

NYSE:SPG • US8288061091

Current stock price

182.26 USD
+3.99 (+2.24%)
Last:

This SPG fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. SPG Profitability Analysis

1.1 Basic Checks

  • In the past year SPG was profitable.
  • SPG had a positive operating cash flow in the past year.
  • Each year in the past 5 years SPG has been profitable.
  • Each year in the past 5 years SPG had a positive operating cash flow.
SPG Yearly Net Income VS EBIT VS OCF VS FCFSPG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 11.39%, SPG belongs to the top of the industry, outperforming 99.19% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 88.79%, SPG belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • SPG's Return On Invested Capital of 6.94% is amongst the best of the industry. SPG outperforms 97.56% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for SPG is above the industry average of 3.13%.
Industry RankSector Rank
ROA 11.39%
ROE 88.79%
ROIC 6.94%
ROA(3y)8.45%
ROA(5y)7.69%
ROE(3y)81.56%
ROE(5y)75.91%
ROIC(3y)7.61%
ROIC(5y)7.22%
SPG Yearly ROA, ROE, ROICSPG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

1.3 Margins

  • SPG has a better Profit Margin (72.66%) than 98.37% of its industry peers.
  • In the last couple of years the Profit Margin of SPG has grown nicely.
  • The Operating Margin of SPG (49.89%) is better than 91.87% of its industry peers.
  • SPG's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 81.90%, SPG belongs to the top of the industry, outperforming 82.93% of the companies in the same industry.
  • SPG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 49.89%
PM (TTM) 72.66%
GM 81.9%
OM growth 3Y0.72%
OM growth 5Y3.12%
PM growth 3Y21.64%
PM growth 5Y24.72%
GM growth 3Y0.33%
GM growth 5Y0.28%
SPG Yearly Profit, Operating, Gross MarginsSPG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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4

2. SPG Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SPG is still creating some value.
  • Compared to 1 year ago, SPG has less shares outstanding
  • The number of shares outstanding for SPG has been reduced compared to 5 years ago.
  • Compared to 1 year ago, SPG has an improved debt to assets ratio.
SPG Yearly Shares OutstandingSPG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M
SPG Yearly Total Debt VS Total AssetsSPG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.2 Solvency

  • Based on the Altman-Z score of 1.16, we must say that SPG is in the distress zone and has some risk of bankruptcy.
  • SPG's Altman-Z score of 1.16 is amongst the best of the industry. SPG outperforms 82.11% of its industry peers.
  • The Debt to FCF ratio of SPG is 8.88, which is on the high side as it means it would take SPG, 8.88 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of SPG (8.88) is better than 91.87% of its industry peers.
  • A Debt/Equity ratio of 5.46 is on the high side and indicates that SPG has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 5.46, SPG is doing worse than 83.74% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 5.46
Debt/FCF 8.88
Altman-Z 1.16
ROIC/WACC0.98
WACC7.06%
SPG Yearly LT Debt VS Equity VS FCFSPG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

2.3 Liquidity

  • SPG has a Current Ratio of 0.39. This is a bad value and indicates that SPG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of SPG (0.39) is worse than 82.93% of its industry peers.
  • A Quick Ratio of 0.39 indicates that SPG may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.39, SPG is doing worse than 79.67% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.39
Quick Ratio 0.39
SPG Yearly Current Assets VS Current LiabilitesSPG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

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3

3. SPG Growth Analysis

3.1 Past

  • SPG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -27.55%.
  • SPG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.38% yearly.
  • SPG shows a small growth in Revenue. In the last year, the Revenue has grown by 6.72%.
  • SPG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.67% yearly.
EPS 1Y (TTM)-27.55%
EPS 3Y-6.91%
EPS 5Y6.38%
EPS Q2Q%-78.92%
Revenue 1Y (TTM)6.72%
Revenue growth 3Y6.35%
Revenue growth 5Y6.67%
Sales Q2Q%14.52%

3.2 Future

  • The Earnings Per Share is expected to grow by 7.21% on average over the next years.
  • SPG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.94% yearly.
EPS Next Y51.73%
EPS Next 2Y24.78%
EPS Next 3Y9.83%
EPS Next 5Y7.21%
Revenue Next Year10.56%
Revenue Next 2Y6.9%
Revenue Next 3Y6.75%
Revenue Next 5Y4.94%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
SPG Yearly Revenue VS EstimatesSPG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2B 4B 6B
SPG Yearly EPS VS EstimatesSPG Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6 8

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5

4. SPG Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 34.65, SPG can be considered very expensive at the moment.
  • 61.79% of the companies in the same industry are more expensive than SPG, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 25.50. SPG is valued slightly more expensive when compared to this.
  • Based on the Price/Forward Earnings ratio of 22.84, the valuation of SPG can be described as rather expensive.
  • Based on the Price/Forward Earnings ratio, SPG is valued cheaper than 91.06% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of SPG to the average of the S&P500 Index (22.67), we can say SPG is valued inline with the index average.
Industry RankSector Rank
PE 34.65
Fwd PE 22.84
SPG Price Earnings VS Forward Price EarningsSPG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 76.42% of the companies in the same industry are cheaper than SPG, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of SPG indicates a somewhat cheap valuation: SPG is cheaper than 79.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 18.5
EV/EBITDA 18.08
SPG Per share dataSPG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The excellent profitability rating of SPG may justify a higher PE ratio.
PEG (NY)0.67
PEG (5Y)5.43
EPS Next 2Y24.78%
EPS Next 3Y9.83%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. SPG Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.60%, SPG is a good candidate for dividend investing.
  • SPG's Dividend Yield is comparable with the industry average which is at 7.32.
  • Compared to an average S&P500 Dividend Yield of 1.89, SPG pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.6%

5.2 History

  • The dividend of SPG is nicely growing with an annual growth rate of 13.52%!
  • SPG has paid a dividend for at least 10 years, which is a reliable track record.
  • SPG has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)13.52%
Div Incr Years3
Div Non Decr Years3
SPG Yearly Dividends per shareSPG Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6 8

5.3 Sustainability

  • SPG pays out 60.42% of its income as dividend. This is not a sustainable payout ratio.
  • SPG's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP60.42%
EPS Next 2Y24.78%
EPS Next 3Y9.83%
SPG Yearly Income VS Free CF VS DividendSPG Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B
SPG Dividend Payout.SPG Dividend Payout, showing the Payout Ratio.SPG Dividend Payout.PayoutRetained Earnings

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SPG Fundamentals: All Metrics, Ratios and Statistics

SIMON PROPERTY GROUP INC

NYSE:SPG (3/25/2026, 10:46:39 AM)

182.26

+3.99 (+2.24%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-02
Earnings (Next)N/A
Inst Owners93.1%
Inst Owner Change-3.84%
Ins Owners0.15%
Ins Owner Change1.32%
Market Cap59.23B
Revenue(TTM)6.36B
Net Income(TTM)4.62B
Analysts74.62
Price Target206.09 (13.07%)
Short Float %1.73%
Short Ratio3.38
Dividend
Industry RankSector Rank
Dividend Yield 4.6%
Yearly Dividend8.58
Dividend Growth(5Y)13.52%
DP60.42%
Div Incr Years3
Div Non Decr Years3
Ex-Date03-10
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-34.53%
Min EPS beat(2)-78.67%
Max EPS beat(2)9.62%
EPS beat(4)2
Avg EPS beat(4)-18.58%
Min EPS beat(4)-78.67%
Max EPS beat(4)9.62%
EPS beat(8)4
Avg EPS beat(8)-2.09%
EPS beat(12)6
Avg EPS beat(12)1.29%
EPS beat(16)9
Avg EPS beat(16)3.31%
Revenue beat(2)2
Avg Revenue beat(2)4.44%
Min Revenue beat(2)1.39%
Max Revenue beat(2)7.5%
Revenue beat(4)2
Avg Revenue beat(4)1.15%
Min Revenue beat(4)-3.94%
Max Revenue beat(4)7.5%
Revenue beat(8)5
Avg Revenue beat(8)0.76%
Revenue beat(12)6
Avg Revenue beat(12)0.49%
Revenue beat(16)10
Avg Revenue beat(16)2.09%
PT rev (1m)1.17%
PT rev (3m)3.72%
EPS NQ rev (1m)-3.62%
EPS NQ rev (3m)-4.65%
EPS NY rev (1m)12.24%
EPS NY rev (3m)13.25%
Revenue NQ rev (1m)0.39%
Revenue NQ rev (3m)5.94%
Revenue NY rev (1m)1.69%
Revenue NY rev (3m)6.28%
Valuation
Industry RankSector Rank
PE 34.65
Fwd PE 22.84
P/S 9.31
P/FCF 18.5
P/OCF 14.32
P/B 11.37
P/tB 11.37
EV/EBITDA 18.08
EPS(TTM)5.26
EY2.89%
EPS(NY)7.98
Fwd EY4.38%
FCF(TTM)9.85
FCFY5.41%
OCF(TTM)12.73
OCFY6.98%
SpS19.59
BVpS16.03
TBVpS16.03
PEG (NY)0.67
PEG (5Y)5.43
Graham Number43.55
Profitability
Industry RankSector Rank
ROA 11.39%
ROE 88.79%
ROCE 8.78%
ROIC 6.94%
ROICexc 7.1%
ROICexgc 7.52%
OM 49.89%
PM (TTM) 72.66%
GM 81.9%
FCFM 50.31%
ROA(3y)8.45%
ROA(5y)7.69%
ROE(3y)81.56%
ROE(5y)75.91%
ROIC(3y)7.61%
ROIC(5y)7.22%
ROICexc(3y)7.91%
ROICexc(5y)7.45%
ROICexgc(3y)8.05%
ROICexgc(5y)7.54%
ROCE(3y)9.63%
ROCE(5y)9.14%
ROICexgc growth 3Y1.84%
ROICexgc growth 5Y7.57%
ROICexc growth 3Y-0.05%
ROICexc growth 5Y6.38%
OM growth 3Y0.72%
OM growth 5Y3.12%
PM growth 3Y21.64%
PM growth 5Y24.72%
GM growth 3Y0.33%
GM growth 5Y0.28%
F-Score5
Asset Turnover0.16
Health
Industry RankSector Rank
Debt/Equity 5.46
Debt/FCF 8.88
Debt/EBITDA 6.01
Cap/Depr 60.11%
Cap/Sales 14.68%
Interest Coverage 3.36
Cash Conversion 87.46%
Profit Quality 69.25%
Current Ratio 0.39
Quick Ratio 0.39
Altman-Z 1.16
F-Score5
WACC7.06%
ROIC/WACC0.98
Cap/Depr(3y)58.39%
Cap/Depr(5y)53.06%
Cap/Sales(3y)13.79%
Cap/Sales(5y)12.79%
Profit Quality(3y)112.03%
Profit Quality(5y)124.08%
High Growth Momentum
Growth
EPS 1Y (TTM)-27.55%
EPS 3Y-6.91%
EPS 5Y6.38%
EPS Q2Q%-78.92%
EPS Next Y51.73%
EPS Next 2Y24.78%
EPS Next 3Y9.83%
EPS Next 5Y7.21%
Revenue 1Y (TTM)6.72%
Revenue growth 3Y6.35%
Revenue growth 5Y6.67%
Sales Q2Q%14.52%
Revenue Next Year10.56%
Revenue Next 2Y6.9%
Revenue Next 3Y6.75%
Revenue Next 5Y4.94%
EBIT growth 1Y2.67%
EBIT growth 3Y7.12%
EBIT growth 5Y10%
EBIT Next Year58.78%
EBIT Next 3Y19.01%
EBIT Next 5Y12.15%
FCF growth 1Y4.68%
FCF growth 3Y0.91%
FCF growth 5Y11.69%
OCF growth 1Y8.44%
OCF growth 3Y3.17%
OCF growth 5Y12.2%

SIMON PROPERTY GROUP INC / SPG Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for SIMON PROPERTY GROUP INC?

ChartMill assigns a fundamental rating of 6 / 10 to SPG.


Can you provide the valuation status for SIMON PROPERTY GROUP INC?

ChartMill assigns a valuation rating of 5 / 10 to SIMON PROPERTY GROUP INC (SPG). This can be considered as Fairly Valued.


What is the profitability of SPG stock?

SIMON PROPERTY GROUP INC (SPG) has a profitability rating of 9 / 10.


Can you provide the financial health for SPG stock?

The financial health rating of SIMON PROPERTY GROUP INC (SPG) is 4 / 10.


Can you provide the expected EPS growth for SPG stock?

The Earnings per Share (EPS) of SIMON PROPERTY GROUP INC (SPG) is expected to grow by 51.73% in the next year.