Simon Property Group

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

                    Revenue
                    FY2025
                
$6.4B
                    3y CAGR +6.3%
                    
                    P43
                    
                    +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
                    
                    +8.4%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

20 accounts · 5 years

Total assets $40.6B

Total liabilities $33.9B

Shareholders equity $5.2B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$823.1M -41.2%	$1.4B 19.8%	$1.2B 88.1%	$621.6M 16.4%	$533.9M
Short Term Investments	$33.7M -62.5%	$89.9M -91.0%	$1.0B 1269.9%	$73.0M -48.7%	$142.2M
Operating Lease Assets	$755.9M 45.5%	$519.6M 7.3%	$484.1M -2.6%	$496.9M -1.4%	$504.1M
Total Assets	$40.6B 25.3%	$32.4B -5.5%	$34.3B 3.9%	$33.0B -2.3%	$33.8B
Liabilities
Current Portion of Long Term Debt	$28.4B 17.2%	$24.3B -6.8%	$26.0B 4.3%	$25.0B -1.4%	$25.3B
Operating Lease Liabilities	$756.5M 45.4%	$520.3M 7.3%	$484.9M -2.6%	$498.0M -1.8%	$506.9M
Other Current Liabilities	$1.0B 62.6%	$626.2M 0.7%	$621.6M 16.0%	$535.7M -1.0%	$540.9M
Total Current Liabilities	$33.9B 17.7%	$28.8B -5.8%	$30.6B 4.8%	$29.2B -0.6%	$29.4B
Long Term Debt	$28.4B 17.2%	$24.3B -6.8%	$26.0B 4.3%	$25.0B -1.4%	$25.3B
Operating Lease Liabilities Noncurrent	$756.5M 45.4%	$520.3M 7.3%	$484.9M -2.6%	$498.0M -1.8%	$506.9M
Other Noncurrent Liabilities	$1.0B 62.6%	$626.2M 0.7%	$621.6M 16.0%	$535.7M -1.0%	$540.9M
Total Liabilities	$33.9B 17.7%	$28.8B -5.8%	$30.6B 4.8%	$29.2B -0.6%	$29.4B
Equity
Preferred Stock	$40.5M -0.8%	$40.8M -0.8%	$41.1M -0.8%	$41.4M -0.8%	$41.8M
Additional Paid In Capital	$12.3B 6.6%	$11.6B 1.6%	$11.4B 1.5%	$11.2B 0.2%	$11.2B
Retained Earnings	$-4.6B 27.8%	$-6.4B -4.7%	$-6.1B -2.8%	$-5.9B -1.8%	$-5.8B
Treasury Stock	$226.8M -89.2%	$2.1B 1398.2%	$140.6M -22.1%	$180.4M -90.4%	$1.9B
Accumulated Other Comprehensive Income	$-251.4M -30.2%	$-193.0M -11.7%	$-172.8M -4.8%	$-164.9M 11.0%	$-185.2M
Noncontrolling Interest	$1.3B 167.3%	$472.8M 0.8%	$468.8M -0.9%	$473.1M -3.7%	$491.5M
Total Stockholders Equity	$5.2B 77.0%	$2.9B -2.7%	$3.0B -3.7%	$3.1B -6.6%	$3.4B
Total Liabilitiesand Equity	$40.6B 25.3%	$32.4B -5.5%	$34.3B 3.9%	$33.0B -2.3%	$33.8B

Income Statement

Revenue, expense, and profitability

14 accounts · 5 years

Revenue $6.4B

Operating income $3.2B

Net income $5.4B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$6.4B 6.7%	$6.0B 5.4%	$5.7B 6.9%	$5.3B 3.4%	$5.1B
Expenses Cost of Revenue	$3.2B 11.1%	$2.9B 0.7%	$2.9B 5.3%	$2.7B 0.2%	$2.7B
Expenses Selling,General and Administrative	$60.9M 36.1%	$44.7M 16.2%	$38.5M 10.1%	$35.0M 15.3%	$30.3M
Expenses Depreciation and Amortization	$1.4B 12.7%	$1.3B 0.3%	$1.3B 2.8%	$1.2B -2.8%	$1.3B
Expenses Operating Expenses	$3.2B 11.1%	$2.9B 0.7%	$2.9B 5.3%	$2.7B 0.2%	$2.7B
Other Income Expense Operating Income	$3.2B 2.7%	$3.1B 10.2%	$2.8B 8.6%	$2.6B 7.1%	$2.4B
Other Income Expense Interest Expense	$974.8M 7.6%	$905.8M 6.0%	$854.6M 12.3%	$761.3M -4.3%	$795.7M
Income Tax Income Tax Expense	$20.3M 117.9%	$9.3M -86.5%	$68.8M	—	—
net Income net Income	$5.4B 96.6%	$2.7B 4.3%	$2.6B 6.7%	$2.5B -4.5%	$2.6B
net Income Comprehensive Income	$4.6B 94.4%	$2.4B 3.3%	$2.3B 5.3%	$2.2B -4.1%	$2.3B
Earnings Per Share Basic Eps	$14 95.2%	$7 4.0%	$7 7.1%	$7 -4.7%	$7
Earnings Per Share Diluted Eps	$14 95.2%	$7 4.0%	$7 7.1%	$7 -4.7%	$7
Earnings Per Share Weighted Average Shares Basic	$326.4M 0.1%	$326.1M -0.2%	$326.8M -0.3%	$327.8M -0.2%	$328.6M
Earnings Per Share Weighted Average Shares Diluted	$326.4M 0.1%	$326.1M -0.2%	$326.8M -0.3%	$327.8M -0.2%	$328.6M

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 5 years

Operating cash flow $4.1B

Investing cash flow $-1.6B

Financing cash flow $-3.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$5.4B 96.6%	$2.7B 4.3%	$2.6B 6.7%	$2.5B -4.5%	$2.6B
Operating Activities Depreciation and Amortization	$1.4B 12.7%	$1.3B 0.3%	$1.3B 2.8%	$1.2B -2.8%	$1.3B
Operating Activities Deferred Income Taxes	$20.3M 117.9%	$9.3M -86.5%	$68.8M	—	—
Operating Activities Changes In Operating Assets and Liabilities	$-14.6M -106.2%	$235.9M 1065.8%	$-24.4M -123.4%	$104.6M 34.8%	$77.6M
Operating Activities net Cash From Operating Activities	$4.1B 8.4%	$3.8B -3.0%	$3.9B 4.4%	$3.8B 3.6%	$3.6B
Investing Activities Purchases of Investments	$48.7M -79.8%	$241.2M 659.8%	$31.7M -52.0%	$66.1M 96.8%	$33.6M
Investing Activities net Cash From Investing Activities	$-1.6B -213.7%	$1.4B 203.3%	$-1.4B -117.6%	$-626.6M -13.4%	$-552.8M
Financing Activities Proceeds From Debt	$3.7B 234.9%	$1.1B -69.8%	$3.6B 5.2%	$3.4B -62.7%	$9.3B
Financing Activities Repayment of Debt	$3.3B 10.4%	$3.0B 11.7%	$2.7B -28.6%	$3.7B -63.1%	$10.1B
Financing Activities Repurchase of Common Stock	$226.8M	—	$140.6M -22.1%	$180.4M	—
Financing Activities Tax Withholding On Stock Based Compensation	$13.9M 31.8%	$10.6M 82.2%	$5.8M -14.6%	$6.8M 192.8%	$2.3M
Financing Activities net Cash From Financing Activities	$-3.1B 37.6%	$-5.0B -147.1%	$-2.0B 33.8%	$-3.1B 14.3%	$-3.6B
Cash Reconciliation Effect of Exchange Rate On Cash	$823.1M -41.2%	$1.4B 19.8%	$1.2B 88.1%	$621.6M 16.4%	$533.9M
Cash Reconciliation net Change In Cash	$-577.2M -349.5%	$231.4M -57.7%	$547.4M 524.2%	$87.7M 118.4%	$-477.7M
Cash Reconciliation Cash At Beginning of Period	$823.1M -41.2%	$1.4B 19.8%	$1.2B 88.1%	$621.6M 16.4%	$533.9M
Cash Reconciliation Cash At End of Period	$823.1M -41.2%	$1.4B 19.8%	$1.2B 88.1%	$621.6M 16.4%	$533.9M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+49.9%	+51.9%	+49.6%	+48.8%	+47.2%
Operating margin	+49.9%	+51.9%	+49.6%	+48.8%	+47.2%
Net margin	+84.3%	+45.8%	+46.2%	+46.3%	+50.2%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+6.3%	+5.2%	+7.1%	-2.8%	-3.2%
Returns
ROE	+103.0%	+92.8%	+86.6%	+78.1%	+76.4%
ROA	+13.2%	+8.4%	+7.6%	+7.4%	+7.6%
ROIC	+5.2%	+6.2%	+5.2%	+4.9%	+4.5%
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	—	—	—	—	—
Leverage
D/E	6.51x	9.79x	10.12x	9.30x	8.74x
Interest coverage	3.26x	3.41x	3.28x	3.39x	3.03x
Efficiency
Asset turnover	0.16x	0.18x	0.17x	0.16x	0.15x
Cash conversion cycle	—	—	—	—	—

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Simon Property Group

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