SIMON PROPERTY GROUP INC (SPG) Fundamental Analysis & Valuation
NYSE:SPG • US8288061091
192.07 USD
-0.76 (-0.39%)
At close: Mar 10, 2026
192.07 USD
0 (0%)
After Hours: 3/10/2026, 7:53:08 PM
This SPG fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Taking everything into account, SPG scores 5 out of 10 in our fundamental rating. SPG was compared to 123 industry peers in the Diversified REITs industry. While SPG has a great profitability rating, there are some minor concerns on its financial health. SPG has a valuation in line with the averages, but on the other hand it scores bad on growth.
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.
- SPG had a positive operating cash flow in each of the past 5 years.
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.
- SPG has a Return On Equity of 88.79%. This is amongst the best in the industry. SPG outperforms 100.00% of its industry peers.
- SPG has a Return On Invested Capital of 6.94%. This is amongst the best in 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 3.14%.
| Industry Rank | Sector 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%
1.3 Margins
- The Profit Margin of SPG (72.66%) is better than 98.37% 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 91.87% of its industry peers.
- SPG's Operating Margin has improved in the last couple of years.
- SPG has a better Gross Margin (81.90%) than 82.93% of its industry peers.
- SPG's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector 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%
2. SPG Health Analysis
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SPG is 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.
2.2 Solvency
- Based on the Altman-Z score of 1.24, we must say that SPG is in the distress zone and has some risk of bankruptcy.
- SPG has a better Altman-Z score (1.24) than 82.93% 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.
- With an excellent Debt to FCF ratio value of 8.88, SPG belongs to the best of the industry, outperforming 91.87% of the companies in the same industry.
- 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 84.55% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.46 | ||
| Debt/FCF | 8.88 | ||
| Altman-Z | 1.24 |
ROIC/WACC0.99
WACC7%
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.
- SPG has a Current ratio of 0.39. This is amonst the worse of the industry: SPG underperforms 83.74% 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.
- With a Quick ratio value of 0.39, SPG is not doing good in the industry: 80.49% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.39 | ||
| Quick Ratio | 0.39 |
3. SPG Growth Analysis
3.1 Past
- The earnings per share for SPG have decreased strongly by -27.55% in the last year.
- 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.
- The Revenue has been growing slightly by 6.72% in the past year.
- 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
- SPG is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.21% yearly.
- The Revenue is expected to grow by 4.94% on average over the next years.
EPS Next Y51.73%
EPS Next 2Y24.78%
EPS Next 3Y9.83%
EPS Next 5Y7.21%
Revenue Next Year10.35%
Revenue Next 2Y6.76%
Revenue Next 3Y6.93%
Revenue Next 5Y4.94%
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 decreasing.
4. SPG Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 36.52, SPG can be considered very expensive at the moment.
- SPG's Price/Earnings ratio is in line with the industry average.
- The average S&P500 Price/Earnings ratio is at 26.25. SPG is valued slightly more expensive when compared to this.
- SPG is valuated rather expensively with a Price/Forward Earnings ratio of 24.07.
- 88.62% of the companies in the same industry are more expensive than SPG, based on the Price/Forward Earnings ratio.
- Compared to an average S&P500 Price/Forward Earnings ratio of 24.39, SPG is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.52 | ||
| Fwd PE | 24.07 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, SPG is valued a bit more expensive than 77.24% of the companies in the same industry.
- SPG's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SPG is cheaper than 79.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.49 | ||
| EV/EBITDA | 19.09 |
4.3 Compensation for Growth
- SPG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- SPG has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.71
PEG (5Y)5.72
EPS Next 2Y24.78%
EPS Next 3Y9.83%
5. SPG Dividend Analysis
5.1 Amount
- SPG has a Yearly Dividend Yield of 4.38%, which is a nice return.
- Compared to an average industry Dividend Yield of 7.59, SPG has a dividend in line with its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.82, SPG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.38% |
5.2 History
- On average, the dividend of SPG grows each year by 13.52%, which is quite nice.
- 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 Years3
Div Non Decr Years3
5.3 Sustainability
- 60.42% of the earnings are spent on dividend by SPG. 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 Fundamentals: All Metrics, Ratios and Statistics
192.07
-0.76 (-0.39%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-02 2026-02-02/amc
Earnings (Next)N/A N/A
Inst Owners93.1%
Inst Owner Change-3.84%
Ins Owners0.15%
Ins Owner Change1.32%
Market Cap62.41B
Revenue(TTM)6.36B
Net Income(TTM)4.62B
Analysts74.62
Price Target206.09 (7.3%)
Short Float %1.55%
Short Ratio3.33
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.38% |
Yearly Dividend8.58
Dividend Growth(5Y)13.52%
DP60.42%
Div Incr Years3
Div Non Decr Years3
Ex-Date03-10 2026-03-10 (2.2)
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)21.1%
EPS NQ rev (3m)19.55%
EPS NY rev (1m)12.24%
EPS NY rev (3m)13.25%
Revenue NQ rev (1m)5.02%
Revenue NQ rev (3m)5.52%
Revenue NY rev (1m)4.64%
Revenue NY rev (3m)6.08%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.52 | ||
| Fwd PE | 24.07 | ||
| P/S | 9.81 | ||
| P/FCF | 19.49 | ||
| P/OCF | 15.09 | ||
| P/B | 11.98 | ||
| P/tB | 11.98 | ||
| EV/EBITDA | 19.09 |
EPS(TTM)5.26
EY2.74%
EPS(NY)7.98
Fwd EY4.16%
FCF(TTM)9.85
FCFY5.13%
OCF(TTM)12.73
OCFY6.63%
SpS19.59
BVpS16.03
TBVpS16.03
PEG (NY)0.71
PEG (5Y)5.72
Graham Number43.55
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 1.24 |
F-Score5
WACC7%
ROIC/WACC0.99
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 Year10.35%
Revenue Next 2Y6.76%
Revenue Next 3Y6.93%
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 FAQ
Can you provide the ChartMill fundamental rating for SIMON PROPERTY GROUP INC?
ChartMill assigns a fundamental rating of 5 / 10 to SPG.
Can you provide the valuation status for SIMON PROPERTY GROUP INC?
ChartMill assigns a valuation rating of 4 / 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.