SIMON PROPERTY GROUP INC (SPG) Fundamental Analysis & Valuation

NYSE:SPG • US8288061091

Current stock price

202.96 USD
+2.87 (+1.43%)
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.
  • SPG had positive earnings in each of the past 5 years.
  • 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

  • SPG has a better Return On Assets (11.39%) than 99.17% of its industry peers.
  • SPG's Return On Equity of 88.79% is amongst the best of the industry. SPG outperforms 100.00% of its industry peers.
  • SPG's Return On Invested Capital of 6.94% is amongst the best of the industry. SPG outperforms 97.52% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for SPG is above the industry average of 3.11%.
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 Profit Margin of 72.66%. This is amongst the best in the industry. SPG outperforms 98.35% of its industry peers.
  • In the last couple of years the Profit Margin of SPG has grown nicely.
  • SPG has a better Operating Margin (49.89%) than 91.74% of its industry peers.
  • In the last couple of years the Operating Margin of SPG has grown nicely.
  • With an excellent Gross Margin value of 81.90%, SPG belongs to the best of the industry, outperforming 82.64% 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.
  • SPG has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, SPG has less shares outstanding
  • 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 1.28, we must say that SPG is in the distress zone and has some risk of bankruptcy.
  • With an excellent Altman-Z score value of 1.28, SPG belongs to the best of the industry, outperforming 84.30% of the companies in the same industry.
  • 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.
  • SPG has a better Debt to FCF ratio (8.88) than 92.56% 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.
  • SPG has a Debt to Equity ratio of 5.46. This is amonst the worse of the industry: SPG underperforms 83.47% of its industry peers.
Industry RankSector Rank
Debt/Equity 5.46
Debt/FCF 8.88
Altman-Z 1.28
ROIC/WACC0.96
WACC7.26%
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

  • A Current Ratio of 0.39 indicates that SPG may have some problems paying its short term obligations.
  • SPG's Current ratio of 0.39 is on the low side compared to the rest of the industry. SPG is outperformed by 84.30% of its industry peers.
  • SPG has a Quick 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.
  • SPG has a worse Quick ratio (0.39) than 80.99% of its industry peers.
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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

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%.
  • Measured over the past 5 years, SPG shows a small growth in Earnings Per Share. The EPS has been growing by 6.38% on average per year.
  • SPG shows a small growth in Revenue. In the last year, the Revenue has grown by 6.72%.
  • Measured over the past years, SPG shows a small growth in Revenue. The Revenue has been growing by 6.67% on average per year.
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

  • Based on estimates for the next years, SPG will show a small growth in Earnings Per Share. The EPS will grow by 7.25% on average per year.
  • SPG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.90% yearly.
EPS Next Y24.62%
EPS Next 2Y12.9%
EPS Next 3Y9.65%
EPS Next 5Y7.25%
Revenue Next Year11.22%
Revenue Next 2Y7.26%
Revenue Next 3Y6.75%
Revenue Next 5Y5.9%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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 8B
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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3

4. SPG Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 38.59, which means the current valuation is very expensive for SPG.
  • Compared to the rest of the industry, the Price/Earnings ratio of SPG is on the same level as its industry peers.
  • When comparing the Price/Earnings ratio of SPG to the average of the S&P500 Index (26.54), we can say SPG is valued slightly more expensively.
  • The Price/Forward Earnings ratio is 30.96, which means the current valuation is very expensive for SPG.
  • Based on the Price/Forward Earnings ratio, SPG is valued a bit cheaper than the industry average as 77.69% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of SPG to the average of the S&P500 Index (21.68), we can say SPG is valued slightly more expensively.
Industry RankSector Rank
PE 38.59
Fwd PE 30.96
SPG Price Earnings VS Forward Price EarningsSPG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • SPG's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. SPG is more expensive than 79.34% 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 79.34% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 20.59
EV/EBITDA 19.58
SPG Per share dataSPG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • SPG's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of SPG may justify a higher PE ratio.
PEG (NY)1.57
PEG (5Y)6.04
EPS Next 2Y12.9%
EPS Next 3Y9.65%

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6

5. SPG Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.32%, SPG is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 7.43, SPG has a dividend in line with its industry peers.
  • SPG's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 4.32%

5.2 History

  • The dividend of SPG is nicely growing with an annual growth rate of 13.52%!
  • 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)13.52%
Div Incr Years4
Div Non Decr Years4
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 2Y12.9%
EPS Next 3Y9.65%
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 (4/30/2026, 11:16:06 AM)

202.96

+2.87 (+1.43%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Industry Strength69.57
Industry Growth81.37
Earnings (Last)02-02
Earnings (Next)05-11
Inst Owners93.11%
Inst Owner Change0.11%
Ins Owners0.15%
Ins Owner Change1.26%
Market Cap65.93B
Revenue(TTM)6.36B
Net Income(TTM)4.62B
Analysts74.62
Price Target210.17 (3.55%)
Short Float %2.53%
Short Ratio5.06
Dividend
Industry RankSector Rank
Dividend Yield 4.32%
Yearly Dividend8.58
Dividend Growth(5Y)13.52%
DP60.42%
Div Incr Years4
Div Non Decr Years4
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)1.98%
PT rev (3m)5.34%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.83%
EPS NY rev (1m)-17.87%
EPS NY rev (3m)-6.62%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)5.57%
Revenue NY rev (1m)0.6%
Revenue NY rev (3m)6.02%
Valuation
Industry RankSector Rank
PE 38.59
Fwd PE 30.96
P/S 10.36
P/FCF 20.59
P/OCF 15.94
P/B 12.66
P/tB 12.66
EV/EBITDA 19.58
EPS(TTM)5.26
EY2.59%
EPS(NY)6.55
Fwd EY3.23%
FCF(TTM)9.86
FCFY4.86%
OCF(TTM)12.73
OCFY6.27%
SpS19.59
BVpS16.03
TBVpS16.03
PEG (NY)1.57
PEG (5Y)6.04
Graham Number43.5602 (-78.54%)
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 1.28
F-Score5
WACC7.26%
ROIC/WACC0.96
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 Y24.62%
EPS Next 2Y12.9%
EPS Next 3Y9.65%
EPS Next 5Y7.25%
Revenue 1Y (TTM)6.72%
Revenue growth 3Y6.35%
Revenue growth 5Y6.67%
Sales Q2Q%14.52%
Revenue Next Year11.22%
Revenue Next 2Y7.26%
Revenue Next 3Y6.75%
Revenue Next 5Y5.9%
EBIT growth 1Y2.67%
EBIT growth 3Y7.12%
EBIT growth 5Y10%
EBIT Next Year60.81%
EBIT Next 3Y19.65%
EBIT Next 5Y14.01%
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 5 / 10 to SPG.


What is the valuation status of SIMON PROPERTY GROUP INC (SPG) stock?

ChartMill assigns a valuation rating of 3 / 10 to SIMON PROPERTY GROUP INC (SPG). This can be considered as Overvalued.


How profitable is SIMON PROPERTY GROUP INC (SPG) stock?

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


What are the PE and PB ratios of SIMON PROPERTY GROUP INC (SPG) stock?

The Price/Earnings (PE) ratio for SIMON PROPERTY GROUP INC (SPG) is 38.59 and the Price/Book (PB) ratio is 12.66.


What is the expected EPS growth for SIMON PROPERTY GROUP INC (SPG) stock?

The Earnings per Share (EPS) of SIMON PROPERTY GROUP INC (SPG) is expected to grow by 24.62% in the next year.