Simon Property Group

Real Estate Retail REITs Indianapolis, Indiana Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$6.4B
                    3y CAGR +6.3%
                    
                    P45
                    
                    +6.7%
                    
                    Net income
                    FY2025
                
$5.4B
                    Net margin +84.3%
                    
                    P97
                    
                    +96.6%
                    
                    Total assets
                    FY2025
                
$40.6B
                    ROA +13.2%
                    
                    P100
                    
                    +25.3%
                    
                    Operating cash flow
                    FY2025
                
$4.1B
                    FCF margin +32.8%
                    
                    P90
                    
                    +8.4%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

16 accounts · 3 years

Total assets $40.6B

Total liabilities $33.9B

Shareholders equity $5.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	2.0%	4.3%	3.4%
Real Estate	74.5%	65.4%	62.9%
Other Noncurrent Assets	9.0%	8.3%	10.0%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Long Term Debt	70.0%	74.9%	75.9%
Other Noncurrent Liabilities	13.5%	14.0%	13.3%
Total Liabilities	83.5%	88.9%	89.2%
Equity
Total Stockholders Equity	12.8%	9.1%	8.8%
Preferred Stock	0.1%	0.1%	0.1%
Additional Paid In Capital	30.4%	35.7%	33.3%
Retained Earnings	-11.3%	-19.7%	-17.8%
Treasury Stock	5.7%	6.5%	6.3%
Accumulated Other Comprehensive Income	-0.6%	-0.6%	-0.5%
Noncontrolling Interest	3.1%	1.5%	1.4%
Temporary Equity and Other	0.6%	0.6%	0.6%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

12 accounts · 3 years

Revenue $6.4B

Operating income $3.2B

Net income $5.4B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	15.7%	18.4%	16.5%
Expenses Property Operating Expenses	1.4%	1.6%	1.4%
Expenses Depreciation and Amortization	3.5%	3.9%	3.7%
Expenses Selling,General and Administrative	0.1%	0.1%	0.1%
Expenses Other Operating Expenses	2.1%	2.5%	2.5%
Other Income Expense Operating Income	7.8%	9.5%	8.2%
Other Income Expense Interest Expense	2.4%	2.8%	2.5%
Income Tax Income Tax Expense	0.1%	0.1%	0.2%
net Income Other Items Below Tax	5.4%	-0.1%	0.6%
net Income net Income	13.2%	8.4%	7.6%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 3 years

Operating cash flow $4.1B

Investing cash flow $-1.6B

Financing cash flow $-3.1B

Account	2025	2024	2023
CashFlow
Operating Activities net Cash From Operating Activities	10.2%	11.8%	11.5%
Operating Activities net Income	13.2%	8.4%	7.6%
Operating Activities Depreciation and Amortization	3.8%	4.2%	3.9%
Operating Activities Other Non Cash Items	-6.9%	-0.8%	-0.1%
Investing Activities Capital Expenditures	-5.0%	-2.5%	-2.5%
Investing Activities Other Investing Activities	1.1%	6.9%	-1.5%
Investing Activities net Cash From Investing Activities	-3.9%	4.3%	-4.0%
Financing Activities Proceeds From Debt	9.0%	3.4%	10.6%
Financing Activities Repayment of Debt	-8.1%	-9.2%	-7.8%
Financing Activities Dividends Paid	-8.0%	-9.4%	-8.2%
Financing Activities Repurchase of Common Stock	-0.6%	-0.1%	-0.4%
Financing Activities Other Financing Activities	-0.1%	-0.1%	-0.1%
Financing Activities net Cash From Financing Activities	-7.7%	-15.4%	-5.9%
Cash Reconciliation net Change In Cash	-1.4%	0.7%	1.6%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	+49.9%	+51.9%	+49.6%
Net margin	+84.3%	+45.8%	+46.2%
FCF margin	+32.8%	+50.4%	+54.3%
Growth
Revenue CAGR (3y)	+6.3%	+5.2%	+7.1%
Returns
ROE	+103.0%	+92.8%	+86.6%
ROA	+13.2%	+8.4%	+7.6%
ROIC	+9.7%	+12.0%	+10.1%
Liquidity
Current ratio	—	—	—
Quick ratio	—	—	—
Leverage
D/E	6.51x	9.79x	10.12x
Interest coverage	3.26x	3.41x	3.28x
Efficiency
Asset turnover	0.16x	0.18x	0.17x
Cash conversion cycle	—	—	—

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Simon Property Group

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