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

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 10 years

Total assets $40.6B

Total liabilities $33.9B

Shareholders equity $5.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	-41.2%	+19.8%	+88.1%	+16.4%	-47.2%	+51.1%	+30.1%	-65.3%	+164.7%	—
Short Term Investments	-62.5%	-91.0%	+1269.9%	-48.7%	+239.4%	-38.6%	-12.7%	—	—	—
Operating Lease Assets	+45.5%	+7.3%	-2.6%	-1.4%	-1.7%	-0.3%	—	—	—	—
Total Assets	+25.3%	-5.5%	+3.9%	-2.3%	-2.9%	+11.4%	+1.8%	-4.9%	+3.7%	—
Liabilities
Current Portion of Long Term Debt	+17.2%	-6.8%	+4.3%	-1.4%	-5.2%	+10.6%	+3.7%	-5.4%	+7.2%	—
Operating Lease Liabilities	+45.4%	+7.3%	-2.6%	-1.8%	-1.7%	-0.3%	—	—	—	—
Other Current Liabilities	+62.6%	+0.7%	+16.0%	-1.0%	+5.3%	+10.6%	-7.2%	-3.8%	+14.4%	—
Total Current Liabilities	+17.7%	-5.8%	+4.8%	-0.6%	-5.6%	+10.8%	+5.4%	-4.2%	+7.0%	—
Long Term Debt	+17.2%	-6.8%	+4.3%	-1.4%	-5.2%	+10.6%	+3.7%	-5.4%	+7.2%	—
Operating Lease Liabilities Noncurrent	+45.4%	+7.3%	-2.6%	-1.8%	-1.7%	-0.3%	—	—	—	—
Other Noncurrent Liabilities	+62.6%	+0.7%	+16.0%	-1.0%	+5.3%	+10.6%	-7.2%	-3.8%	+14.4%	—
Total Liabilities	+17.7%	-5.8%	+4.8%	-0.6%	-5.6%	+10.8%	+5.4%	-4.2%	+7.0%	—
Equity
Preferred Stock	-0.8%	-0.8%	-0.8%	-0.8%	-0.8%	-0.8%	-0.8%	-0.8%	-0.8%	—
Additional Paid In Capital	+6.6%	+1.6%	+1.5%	+0.2%	+0.3%	+14.6%	+0.6%	+0.9%	+1.0%	—
Retained Earnings	+27.8%	-4.7%	-2.8%	-1.8%	+4.6%	-13.4%	-10.0%	-2.3%	-7.2%	—
Treasury Stock	-89.2%	+1398.2%	-22.1%	-90.4%	+1135.0%	-57.6%	+1.6%	-13.0%	+59.4%	—
Accumulated Other Comprehensive Income	-30.2%	-11.7%	-4.8%	+11.0%	+1.8%	-59.1%	+5.9%	-14.1%	+3.2%	—
Noncontrolling Interest	+167.3%	+0.8%	-0.9%	-3.7%	+13.6%	+12.5%	-23.1%	-9.5%	-14.9%	—
Total Stockholders Equity	+77.0%	-2.7%	-3.7%	-6.6%	+10.6%	+20.3%	-23.4%	-10.6%	-14.5%	—
Total Liabilitiesand Equity	+25.3%	-5.5%	+3.9%	-2.3%	-2.9%	+11.4%	+1.8%	-4.9%	+3.7%	—

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $6.4B

Operating income $3.2B

Net income $5.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+6.7%	+5.4%	+6.9%	+3.4%	+11.1%	-19.9%	+1.9%	+2.1%	+1.7%	—
Expenses Cost of Revenue	+11.1%	+0.7%	+5.3%	+0.2%	+2.6%	-7.3%	+4.5%	-0.2%	+0.4%	—
Expenses Selling,General and Administrative	+36.1%	+16.2%	+10.1%	+15.3%	+34.4%	-35.2%	-25.1%	-10.4%	-20.1%	—
Expenses Depreciation and Amortization	+12.7%	+0.3%	+2.8%	-2.8%	-4.2%	-1.7%	+4.5%	+0.5%	+1.8%	—
Expenses Operating Expenses	+11.1%	+0.7%	+5.3%	+0.2%	+2.6%	-7.3%	+4.5%	-0.2%	+0.4%	—
Other Income Expense Operating Income	+2.7%	+10.2%	+8.6%	+7.1%	+22.4%	-32.3%	-0.5%	+4.4%	+3.0%	—
Other Income Expense Interest Expense	+7.6%	+6.0%	+12.3%	-4.3%	+1.4%	-0.6%	-3.3%	+0.8%	-5.6%	—
Income Tax Income Tax Expense	+117.9%	-86.5%	—	—	—	—	—	—	—	—
net Income net Income	+96.6%	+4.3%	+6.7%	-4.5%	+101.1%	-47.3%	-14.1%	+25.7%	+5.2%	—
net Income Comprehensive Income	+94.4%	+3.3%	+5.3%	-4.1%	+116.1%	-50.6%	-13.0%	+24.2%	-1.3%	—
Earnings Per Share Basic Eps	+95.2%	+4.0%	+7.1%	-4.7%	+90.5%	-47.3%	—	—	—	—
Earnings Per Share Diluted Eps	+95.2%	+4.0%	+7.1%	-4.7%	—	—	—	—	—	—
Earnings Per Share Weighted Average Shares Basic	+0.1%	-0.2%	-0.3%	-0.2%	+6.4%	+0.3%	—	—	—	—
Earnings Per Share Weighted Average Shares Diluted	+0.1%	-0.2%	-0.3%	-0.2%	+6.4%	+0.3%	—	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 10 years

Operating cash flow $4.1B

Investing cash flow $-1.6B

Financing cash flow $-3.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+96.6%	+4.3%	+6.7%	-4.5%	+101.1%	-47.3%	-14.1%	+25.7%	+5.2%	—
Operating Activities Depreciation and Amortization	+12.7%	+0.3%	+2.8%	-2.8%	-4.2%	-1.7%	+4.5%	+0.5%	+1.8%	—
Operating Activities Deferred Income Taxes	+117.9%	-86.5%	—	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	-106.2%	+1065.8%	-123.4%	+34.8%	+175.2%	-42.9%	-34.6%	-43.3%	+203.5%	—
Operating Activities net Cash From Operating Activities	+8.4%	-3.0%	+4.4%	+3.6%	+56.3%	-38.9%	+1.5%	+4.4%	+6.6%	—
Investing Activities Purchases of Investments	-79.8%	+659.8%	-52.0%	+96.8%	+2.0%	-91.2%	+1635.5%	-13.7%	-35.6%	—
Investing Activities net Cash From Investing Activities	-213.7%	+203.3%	-117.6%	-13.4%	+86.1%	-269.5%	-355.3%	+68.9%	+21.4%	—
Financing Activities Proceeds From Debt	+234.9%	-69.8%	+5.2%	-62.7%	-39.3%	+14.4%	+67.0%	-31.7%	-21.5%	—
Financing Activities Repayment of Debt	+10.4%	+11.7%	-28.6%	-63.1%	-22.2%	+4.2%	+36.3%	-12.8%	-28.6%	—
Financing Activities Repurchase of Common Stock	—	—	-22.1%	—	—	-57.6%	+1.6%	-13.0%	+59.4%	—
Financing Activities Tax Withholding On Stock Based Compensation	+31.8%	+82.2%	-14.6%	+192.8%	+171.4%	-71.1%	+1.5%	+4.4%	-35.1%	—
Financing Activities net Cash From Financing Activities	+37.6%	-147.1%	+33.8%	+14.3%	-278.7%	+177.4%	+42.5%	-134.7%	+24.9%	—
Cash Reconciliation Effect of Exchange Rate On Cash	-41.2%	+19.8%	+88.1%	+16.4%	-47.2%	+51.1%	+30.1%	-65.3%	+164.7%	—
Cash Reconciliation net Change In Cash	-349.5%	-57.7%	+524.2%	+118.4%	-239.6%	+120.7%	+116.0%	-205.0%	+753.7%	—
Cash Reconciliation Cash At Beginning of Period	-41.2%	+19.8%	+88.1%	+16.4%	-47.2%	+51.1%	+30.1%	-65.3%	+164.7%	—
Cash Reconciliation Cash At End of Period	-41.2%	+19.8%	+88.1%	+16.4%	-47.2%	+51.1%	+30.1%	-65.3%	+164.7%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+49.9%	+51.9%	+49.6%	+48.8%	+47.2%	+42.8%	+50.6%	+51.8%	+50.7%	+50.1%
Operating margin	+49.9%	+51.9%	+49.6%	+48.8%	+47.2%	+42.8%	+50.6%	+51.8%	+50.7%	+50.1%
Net margin	+84.3%	+45.8%	+46.2%	+46.3%	+50.2%	+27.7%	+42.1%	+50.0%	+40.6%	+39.3%
FCF margin	—	—	—	—	—	—	—	—	—	—
Growth
Revenue CAGR (3y)	+6.3%	+5.2%	+7.1%	-2.8%	-3.2%	-5.9%	+1.9%	+2.3%	+4.3%	+6.2%
Returns
ROE	+103.0%	+92.8%	+86.6%	+78.1%	+76.4%	+42.0%	+95.9%	+85.6%	+60.9%	+49.5%
ROA	+13.2%	+8.4%	+7.6%	+7.4%	+7.6%	+3.7%	+7.8%	+9.2%	+7.0%	+6.9%
ROIC	+5.2%	+6.2%	+5.2%	+4.9%	+4.5%	+3.6%	+5.8%	+5.9%	+5.4%	+5.5%
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	6.51x	9.79x	10.12x	9.30x	8.74x	10.24x	11.12x	8.09x	7.55x	6.03x
Interest coverage	3.26x	3.41x	3.28x	3.39x	3.03x	2.51x	3.69x	3.59x	3.46x	3.17x
Efficiency
Asset turnover	0.16x	0.18x	0.17x	0.16x	0.15x	0.13x	0.18x	0.18x	0.17x	0.17x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

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FY2025 fundamentals · no price

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Simon Property Group

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