Simon Property Group (SPG) Financials

$149.89 +1.69 (+1.14%)

As of 03:58 PM Eastern

Annual Income Statements for Simon Property Group

This table shows Simon Property Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,824	1,836	1,945	2,437	2,098	1,109	2,246	2,136	2,280	2,368
Consolidated Net Income / (Loss)	2,139	2,135	2,245	2,822	2,423	1,277	2,569	2,452	2,617	2,729
Net Income / (Loss) Continuing Operations	2,139	2,174	2,245	2,822	2,405	1,392	2,362	2,447	2,723	2,746
Total Pre-Tax Income	1,624	1,766	2,265	2,095	1,991	1,187	1,744	1,943	2,347	2,110
Total Operating Income	2,669	2,721	2,802	2,926	2,913	1,972	2,413	2,584	2,807	3,093
Total Gross Profit	5,158	5,328	4,987	5,546	5,655	4,177	4,605	4,734	5,562	5,859
Total Revenue	5,266	5,435	5,527	5,645	5,755	4,608	5,117	5,291	5,659	5,964
Operating Revenue	5,266	5,435	5,527	5,645	5,755	4,608	5,117	5,291	5,659	5,964
Total Cost of Revenue	108	107	540	100	100	430	512	558	97	105
Operating Cost of Revenue	101	100	540	100	100	430	512	558	97	105
Total Operating Expenses	2,489	2,607	2,185	2,619	2,727	2,206	2,191	2,150	2,758	2,766
Selling, General & Admin Expense	163	182	183	141	140	160	171	187	226	194
Marketing Expense	135	143	151	151	150	99	114	108	127	145
Depreciation Expense	1,178	1,253	1,275	1,282	1,341	1,318	1,263	1,227	1,262	1,265
Other Operating Expenses / (Income)	1,014	1,030	575	1,045	1,111	629	644	628	1,139	1,162
Total Other Income / (Expense), net	-1,045	-955	-538	-831	-922	-784	-669	-640	-460	-983
Interest Expense	1,045	994	938	816	906	784	848	761	855	906
Interest & Investment Income	-	-	-	-	-	-	-	-	-	-76
Other Income / (Expense), net	-	39	400	-15	-17	-	179	121	395	-0.90
Income Tax Expense	20	30	23	37	30	-4.64	157	84	-	23
Other Gains / (Losses), net	535	438	3.65	764	444	200	775	587	376	658
Preferred Stock Dividends Declared	3.34	3.34	3.34	3.34	3.34	3.34	3.34	3.34	3.34	3.34
Net Income / (Loss) Attributable to Noncontrolling Interest	312	296	297	382	322	165	319	313	334	358
Basic Earnings per Share	$5.88	$5.87	$6.24	$7.87	$6.81	$3.59	$6.84	$6.52	$6.98	$7.26
Weighted Average Basic Shares Outstanding	314.81M	319.83M	320.34M	308.97M	306.87M	328.50M	328.60M	326.93M	325.90M	326.28M
Diluted Earnings per Share	$5.88	$5.87	$6.24	$7.87	$0.00	-	-	-	$6.98	$7.26
Weighted Average Diluted Shares Outstanding	314.81M	319.83M	320.34M	308.97M	306.87M	328.50M	328.60M	326.93M	325.90M	326.28M
Weighted Average Basic & Diluted Shares Outstanding	314.81M	319.83M	320.34M	308.97M	306.87M	328.50M	328.60M	326.93M	325.90M	326.28M
Cash Dividends to Common per Share	$6.05	$6.50	$7.15	$7.90	$8.30	$6.00	$5.85	$6.90	$7.45	$8.10

This table shows Simon Property Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	539	674	452	486	594	747	732	493	475	667
Consolidated Net Income / (Loss)	622	773	519	558	681	859	841	569	547	772
Net Income / (Loss) Continuing Operations	605	766	519	562	686	955	841	572	548	784
Total Pre-Tax Income	464	444	485	567	736	559	508	575	600	427
Total Operating Income	652	684	663	658	694	792	735	754	768	836
Total Gross Profit	1,173	1,243	1,217	1,228	1,252	1,865	1,291	1,302	1,317	1,949
Total Revenue	1,316	1,400	1,351	1,370	1,411	1,527	1,443	1,458	1,481	1,582
Operating Revenue	1,316	1,400	1,351	1,370	1,411	1,527	1,443	1,458	1,481	1,582
Total Cost of Revenue	142	157	134	141	159	-337	152	156	164	-367
Operating Cost of Revenue	142	157	134	141	159	-337	152	156	164	-367
Total Operating Expenses	521	559	554	570	558	1,075	556	548	549	1,113
Selling, General & Admin Expense	39	56	55	55	50	66	50	52	47	45
Marketing Expense	27	35	24	34	29	41	28	39	34	44
Depreciation Expense	302	317	307	320	315	320	307	310	320	328
Other Operating Expenses / (Income)	154	151	168	162	163	646	170	147	147	697
Total Other Income / (Expense), net	-188	-240	-178	-91	41	-233	-227	-179	-168	-409
Interest Expense	188	201	199	218	212	225	231	221	226	227
Interest & Investment Income	-	-	-	90	95	-	11	42	59	-188
Other Income / (Expense), net	0.00	-39	22	36	158	178	-7.19	0.00	0.00	6.29
Income Tax Expense	8.26	52	-13	10	43	-	48	4.96	2.61	-32
Other Gains / (Losses), net	149	375	21	5.62	-6.18	356	380	2.41	-49	325
Preferred Stock Dividends Declared	0.83	0.84	0.83	0.83	0.83	0.84	0.83	0.83	0.83	0.84
Net Income / (Loss) Attributable to Noncontrolling Interest	82	98	67	70	86	111	109	75	71	104
Basic Earnings per Share	$1.65	$2.06	$1.38	$1.49	$1.82	$2.29	$2.25	$1.51	$1.46	$2.04
Weighted Average Basic Shares Outstanding	326.95M	326.93M	327.00M	327.20M	326.25M	325.90M	325.94M	326.04M	326.28M	326.28M
Weighted Average Diluted Shares Outstanding	326.95M	326.93M	327.00M	327.20M	326.25M	325.90M	325.94M	326.04M	326.28M	326.28M
Weighted Average Basic & Diluted Shares Outstanding	326.95M	326.93M	327.00M	327.20M	326.25M	325.90M	325.94M	326.04M	326.28M	326.28M
Cash Dividends to Common per Share	$1.75	$1.80	$1.80	$1.85	$1.90	$1.90	$1.95	$2.00	$2.05	$2.10

This table details how cash moves in and out of Simon Property Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	89	-141	922	-968	155	342	-478	88	407	231
Net Cash From Operating Activities	3,025	3,373	3,594	3,751	3,808	2,327	3,637	3,767	3,931	3,815
Net Cash From Continuing Operating Activities	3,025	3,373	3,594	3,751	3,808	2,327	3,637	3,767	3,931	3,815
Net Income / (Loss) Continuing Operations	2,139	2,135	2,245	2,822	2,423	1,277	2,569	2,452	2,617	2,729
Consolidated Net Income / (Loss)	2,139	2,135	2,245	2,822	2,423	1,277	2,569	2,452	2,617	2,729
Depreciation Expense	1,239	1,328	1,357	1,350	1,394	1,355	1,326	1,292	1,334	1,360
Non-Cash Adjustments To Reconcile Net Income	-277	15	51	-413	27	119	-649	-127	-278	-202
Changes in Operating Assets and Liabilities, net	-77	-105	-59	-8.65	-36	-425	392	149	258	-72
Net Cash From Investing Activities	-1,463	-969	-761	-237	-1,077	-3,978	-553	-627	-1,363	1,408
Net Cash From Continuing Investing Activities	-1,463	-969	-761	-237	-1,083	-3,978	-553	-627	-1,363	1,408
Purchase of Property, Plant & Equipment	-1,021	-798	-732	-782	-876	-484	-528	-650	-793	-756
Acquisitions	-1,411	-500	-264	-51	-13	-3,607	-257	-203	-66	-56
Purchase of Investments	-389	-351	-182	-85	-438	-224	-91	-302	-1,116	-954
Sale of Property, Plant & Equipment	33	37	20	183	-	33	3.00	60	0.00	55
Sale and/or Maturity of Investments	1,326	576	461	472	229	280	309	499	603	3,097
Other Investing Activities, net	0.00	68	-64	26	14	23	11	-29	8.37	22
Net Cash From Financing Activities	-1,473	-2,545	-1,910	-4,482	-2,576	1,994	-3,562	-3,052	-2,020	-4,992
Net Cash From Continuing Financing Activities	-1,473	-2,289	-1,910	-4,482	-2,576	1,994	-3,562	-3,052	-2,161	-4,992
Repayment of Debt	-9,233	-14,787	-10,585	-9,119	-12,528	-12,955	-10,127	-3,722	-2,659	-2,969
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	-	-2.50	-7.50
Repurchase of Common Equity	-	-0.33	-	-354	-360	-	0.00	-180	-141	0.00
Payment of Dividends	-2,204	-2,366	-2,583	-2,899	-2,991	-1,672	-2,696	-2,620	-2,839	-3,067
Issuance of Debt	10,469	14,866	11,668	7,974	13,312	15,235	9,251	3,449	3,630	1,096
Issuance of Common Equity	4.55	1.51	0.38	0.16	0.14	0.22	21	30	9.81	9.81
Other Financing Activities, net	-509	-4.30	-410	-85	-10	1,387	-12	-8.97	-160	-53

This table details how cash moves in and out of Simon Property Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	60	20	534	-318	-68	259	82	-17	936	-770
Net Cash From Operating Activities	942	932	829	1,129	936	1,037	773	1,063	893	1,086
Net Cash From Continuing Operating Activities	942	932	829	1,129	936	1,037	773	1,063	893	1,086
Net Income / (Loss) Continuing Operations	622	773	519	558	681	859	841	569	547	772
Consolidated Net Income / (Loss)	622	773	519	558	681	859	841	569	547	772
Depreciation Expense	316	336	322	339	333	339	325	333	342	361
Non-Cash Adjustments To Reconcile Net Income	-70	-236	84	7.41	-146	-223	-307	71	82	-47
Changes in Operating Assets and Liabilities, net	73	59	-97	226	68	62	-86	90	-77	0.14
Net Cash From Investing Activities	-137	-262	-160	-153	-180	-871	693	-105	811	8.82
Net Cash From Continuing Investing Activities	-137	-262	-160	-153	-180	-871	693	-105	811	8.82
Purchase of Property, Plant & Equipment	-156	-185	-166	-221	-228	-178	-163	-188	-186	-218
Acquisitions	-16	-173	-28	-	-	-38	0.00	-	-	-56
Purchase of Investments	-16	-2.77	-11	-6.25	-46	-1,053	-629	-9.02	-109	-207
Sale and/or Maturity of Investments	51	95	48	68	97	390	1,576	41	1,106	373
Other Investing Activities, net	-1.06	2.74	-3.59	6.41	-2.50	8.04	-91	51	0.92	62
Net Cash From Financing Activities	-744	-650	-135	-1,294	-825	234	-1,384	-975	-769	-1,864
Net Cash From Continuing Financing Activities	-744	-650	-135	-1,294	-825	93	-1,384	-975	-769	-1,864
Repayment of Debt	-68	-871	-867	-785	-149	-857	-670	-219	-1,013	-1,067
Payment of Dividends	-665	-687	-682	-696	-735	-726	-739	-753	-775	-801
Issuance of Common Equity	11	-	6.46	1.61	-	1.75	1.73	1.01	1.77	5.30
Other Financing Activities, net	-0.08	-0.18	-5.57	-11	-0.24	-143	-45	-6.35	-0.08	-1.51

This table presents Simon Property Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	30,565	31,104	32,258	30,686	31,232	34,787	33,777	33,011	34,283	32,406
Total Current Assets	1,326	1,225	2,225	1,278	1,502	2,248	1,454	1,445	1,995	2,197
Cash & Equivalents	701	560	1,482	514	669	1,012	534	622	1,169	1,400
Accounts Receivable	625	665	743	764	832	1,237	920	824	826	797
Plant, Property, & Equipment, net	-9,915	-10,866	-11,936	0.00	-13,906	23,158	22,311	21,763	21,568	21,195
Plant, Property & Equipment, gross	-	-	-	-	-	38,050	37,932	38,327	39,285	40,242
Accumulated Depreciation	9,915	10,866	11,936	-	13,906	14,892	15,621	16,564	17,717	19,047
Total Noncurrent Assets	39,155	40,745	41,969	29,408	43,636	9,380	10,013	9,803	9,720	9,014
Long-Term Investments	4,425	4,165	4,201	3,990	4,103	7,785	8,042	8,147	8,118	7,124
Other Noncurrent Operating Assets	34,730	36,580	37,767	25,418	39,533	1,595	1,970	1,656	1,602	1,889
Total Liabilities & Shareholders' Equity	30,565	31,104	32,258	30,686	31,232	34,787	33,777	33,011	34,283	32,406
Total Liabilities	25,323	26,006	27,828	26,659	28,101	31,129	29,377	29,187	30,596	28,806
Total Current Liabilities	2,692	1,214	1,269	0.00	0.00	1,799	1,435	1,494	1,695	1,715
Accounts Payable	1,324	1,214	1,269	-	-	1,312	1,433	1,492	1,693	1,712
Dividends Payable	-	-	-	-	-	487	1.47	2.00	1.84	2.41
Total Noncurrent Liabilities	22,631	24,792	26,559	26,659	28,101	29,330	27,942	27,694	28,901	27,091
Long-Term Debt	22,417	22,977	24,632	23,306	24,163	26,723	25,321	24,960	26,033	24,264
Other Noncurrent Operating Liabilities	214	1,815	1,927	3,354	3,938	2,606	2,621	2,734	2,867	2,827
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	26	138	190	230	219	186	548	212	196	185
Total Equity & Noncontrolling Interests	5,216	4,960	4,239	3,797	2,911	3,472	3,853	3,612	3,492	3,415
Total Preferred & Common Equity	4,471	4,310	3,686	3,297	2,526	3,039	3,361	3,139	3,023	2,942
Preferred Stock	44	43	43	-	42	42	42	41	41	41
Total Common Equity	4,428	4,267	3,643	3,297	2,484	2,997	3,320	3,097	2,982	2,901
Common Stock	9,384	9,523	9,615	3,254	9,756	11,180	11,213	11,233	11,406	11,583
Retained Earnings	-4,267	-4,459	-4,782	-	-5,380	-6,102	-5,824	-5,927	-6,096	-6,383
Treasury Stock	-437	-683	-1,079	-	-1,774	-1,891	-1,884	-2,044	-2,156	-2,106
Accumulated Other Comprehensive Income / (Loss)	-253	-114	-110	-	-119	-189	-185	-165	-173	-193
Noncontrolling Interest	745	649	553	500	385	433	492	473	469	473

This table presents Simon Property Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	32,795	33,011	33,298	32,819	32,965	34,283	33,697	33,377	33,276	32,406
Total Current Assets	1,396	1,445	1,935	1,576	1,527	1,995	2,045	2,028	2,938	2,197
Cash & Equivalents	602	622	1,155	837	769	1,169	1,251	1,234	2,170	1,400
Accounts Receivable	795	824	780	738	758	826	793	793	768	797
Plant, Property, & Equipment, net	21,737	21,763	21,682	21,623	21,541	21,568	21,480	21,366	21,314	21,195
Plant, Property & Equipment, gross	37,983	38,327	38,505	38,749	38,952	39,285	39,494	39,664	39,939	40,242
Accumulated Depreciation	16,245	16,564	16,823	17,126	17,410	17,717	18,014	18,298	18,626	19,047
Total Noncurrent Assets	9,662	9,803	9,680	9,620	9,897	9,720	8,872	8,684	8,724	9,014
Long-Term Investments	7,645	8,147	8,044	7,960	8,180	8,118	7,222	7,031	6,962	7,124
Other Noncurrent Operating Assets	2,017	1,656	1,636	1,660	1,716	1,602	1,650	1,653	1,762	1,889
Total Liabilities & Shareholders' Equity	32,795	33,011	33,298	32,819	32,965	34,283	33,697	33,377	33,276	32,406
Total Liabilities	28,759	29,187	29,621	29,292	29,352	30,596	29,935	29,790	29,954	28,806
Total Current Liabilities	1,424	1,494	1,354	1,547	1,630	1,695	1,529	1,629	1,622	1,715
Accounts Payable	1,421	1,492	1,352	1,544	1,626	1,693	1,528	1,627	1,620	1,712
Dividends Payable	2.73	2.00	2.44	2.89	3.35	1.84	1.41	1.74	2.07	2.41
Total Noncurrent Liabilities	27,335	27,694	28,266	27,745	27,722	28,901	28,405	28,161	28,332	27,091
Long-Term Debt	24,640	24,960	25,570	24,990	24,917	26,033	25,519	25,288	25,418	24,264
Other Noncurrent Operating Liabilities	2,694	2,734	2,696	2,755	2,805	2,867	2,886	2,873	2,914	2,827
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	559	212	224	227	202	196	178	189	183	185
Total Equity & Noncontrolling Interests	3,477	3,612	3,453	3,301	3,410	3,492	3,585	3,398	3,139	3,415
Total Preferred & Common Equity	3,022	3,139	3,004	2,872	2,953	3,023	3,106	2,945	2,713	2,942
Preferred Stock	42	41	41	41	41	41	41	41	41	41
Total Common Equity	2,980	3,097	2,962	2,830	2,912	2,982	3,065	2,904	2,672	2,901
Common Stock	11,231	11,233	11,231	11,211	11,393	11,406	11,371	11,363	11,343	11,583
Retained Earnings	-6,047	-5,927	-6,070	-6,190	-6,219	-6,096	-5,988	-6,156	-6,358	-6,383
Treasury Stock	-2,044	-2,044	-2,039	-2,016	-2,121	-2,156	-2,152	-2,136	-2,106	-2,106
Accumulated Other Comprehensive Income / (Loss)	-161	-165	-161	-176	-141	-173	-166	-167	-206	-193
Noncontrolling Interest	456	473	449	429	458	469	478	453	426	473

This table displays calculated financial ratios and metrics derived from Simon Property Group's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.12%	3.21%	1.69%	2.13%	1.95%	-19.94%	11.05%	3.41%	6.94%	5.39%
EBITDA Growth	6.45%	4.61%	11.54%	-6.56%	0.69%	-22.46%	17.76%	2.02%	13.47%	-1.84%
EBIT Growth	11.89%	3.43%	16.02%	-9.10%	-0.51%	-31.92%	31.45%	4.35%	18.37%	-3.42%
NOPAT Growth	13.01%	1.49%	3.68%	3.65%	-0.21%	-31.00%	10.92%	12.61%	13.53%	8.97%
Net Income Growth	29.54%	-0.22%	5.16%	25.72%	-14.14%	-47.29%	101.10%	-4.53%	6.71%	4.28%
EPS Growth	30.09%	-0.17%	6.30%	26.12%	-100.00%	0.00%	0.00%	0.00%	0.00%	4.01%
Operating Cash Flow Growth	10.78%	11.51%	6.56%	4.37%	1.52%	-38.90%	56.33%	3.55%	4.36%	-2.95%
Free Cash Flow Firm Growth	10.94%	-13.82%	47.75%	24.76%	-7.27%	-23.51%	28.46%	15.41%	-5.90%	-6.98%
Invested Capital Growth	2.18%	3.63%	0.12%	-2.35%	-1.34%	-2.00%	-4.19%	-5.34%	-2.91%	-0.48%
Revenue Q/Q Growth	-19.02%	33.55%	-0.17%	0.82%	0.46%	-7.19%	3.96%	1.41%	2.31%	0.93%
EBITDA Q/Q Growth	-13.25%	21.56%	10.64%	0.09%	-0.22%	-6.75%	8.64%	0.76%	7.79%	-2.33%
EBIT Q/Q Growth	-18.43%	33.19%	16.32%	0.31%	-0.28%	-10.81%	13.49%	1.29%	11.31%	-3.98%
NOPAT Q/Q Growth	-18.64%	32.83%	1.80%	0.27%	-0.29%	-12.32%	3.21%	3.64%	8.50%	0.31%
Net Income Q/Q Growth	-19.21%	29.65%	10.01%	6.54%	-9.11%	-17.86%	11.31%	8.83%	3.43%	-3.11%
EPS Q/Q Growth	-19.12%	29.87%	10.05%	6.35%	-100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.25%	1.02%	0.97%	3.46%	-1.04%	-2.70%	-0.28%	1.27%	2.73%	1.30%
Free Cash Flow Firm Q/Q Growth	-15.57%	50.24%	-9.87%	16.50%	-4.60%	-8.54%	12.93%	3.31%	-1.39%	-5.13%
Invested Capital Q/Q Growth	-0.46%	-0.27%	1.24%	-0.83%	-0.21%	-0.44%	-1.80%	-2.03%	-0.76%	0.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	97.95%	98.03%	90.23%	98.24%	98.25%	90.67%	89.99%	89.46%	98.28%	98.24%
EBITDA Margin	74.21%	75.22%	82.50%	75.48%	74.55%	72.20%	76.57%	75.53%	80.14%	74.65%
Operating Margin	50.68%	50.06%	50.70%	51.84%	50.61%	42.80%	47.16%	48.83%	49.60%	51.86%
EBIT Margin	50.68%	50.79%	57.94%	51.57%	50.32%	42.80%	50.65%	51.12%	56.58%	51.84%
Profit (Net Income) Margin	40.63%	39.28%	40.61%	49.99%	42.10%	27.72%	50.20%	46.35%	46.25%	45.76%
Tax Burden Percent	131.72%	120.88%	99.13%	134.71%	121.73%	107.57%	147.26%	126.19%	111.51%	129.32%
Interest Burden Percent	60.86%	63.98%	70.71%	71.97%	68.73%	60.22%	67.30%	71.85%	73.31%	68.25%
Effective Tax Rate	1.24%	1.68%	1.03%	1.76%	1.51%	-0.39%	9.01%	4.30%	0.00%	1.10%
Return on Invested Capital (ROIC)	11.82%	11.66%	11.87%	12.44%	12.65%	8.88%	10.16%	12.01%	14.23%	15.78%
ROIC Less NNEP Spread (ROIC-NNEP)	8.85%	8.62%	9.03%	12.17%	10.32%	5.16%	12.28%	11.89%	13.04%	13.68%
Return on Net Nonoperating Assets (RNNOA)	26.32%	29.63%	35.26%	54.31%	55.06%	28.75%	53.59%	47.62%	55.45%	59.12%
Return on Equity (ROE)	38.14%	41.29%	47.13%	66.75%	67.71%	37.63%	63.75%	59.64%	69.68%	74.90%
Cash Return on Invested Capital (CROIC)	9.67%	8.10%	11.75%	14.82%	14.01%	10.90%	14.44%	17.50%	17.18%	16.26%
Operating Return on Assets (OROA)	8.88%	8.95%	10.11%	9.25%	9.36%	5.97%	7.56%	8.10%	9.52%	9.27%
Return on Assets (ROA)	7.12%	6.92%	7.09%	8.97%	7.83%	3.87%	7.49%	7.34%	7.78%	8.18%
Return on Common Equity (ROCE)	32.22%	34.72%	39.13%	54.78%	54.69%	30.39%	49.97%	46.53%	56.39%	60.47%
Return on Equity Simple (ROE_SIMPLE)	47.85%	49.52%	60.90%	85.61%	95.91%	42.02%	76.42%	78.14%	86.58%	92.76%
Net Operating Profit after Tax (NOPAT)	2,636	2,675	2,773	2,875	2,869	1,980	2,196	2,473	2,807	3,059
NOPAT Margin	50.05%	49.22%	50.18%	50.92%	49.85%	42.96%	42.91%	46.73%	49.60%	51.29%
Net Nonoperating Expense Percent (NNEP)	2.98%	3.04%	2.84%	0.28%	2.33%	3.71%	-2.12%	0.12%	1.19%	2.09%
Return On Investment Capital (ROIC_SIMPLE)	9.54%	9.58%	9.61%	10.61%	10.60%	6.56%	7.53%	8.65%	9.51%	11.05%
Cost of Revenue to Revenue	2.05%	1.97%	9.77%	1.76%	1.75%	9.33%	10.01%	10.54%	1.72%	1.76%
SG&A Expenses to Revenue	3.10%	3.35%	3.32%	2.49%	2.43%	3.48%	3.34%	3.54%	4.00%	3.26%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	47.27%	47.97%	39.53%	46.40%	47.38%	47.87%	42.83%	40.63%	48.73%	46.38%
Earnings before Interest and Taxes (EBIT)	2,669	2,760	3,203	2,911	2,896	1,972	2,592	2,705	3,202	3,092
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,908	4,088	4,560	4,261	4,290	3,327	3,918	3,997	4,535	4,452
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.47	8.43	9.87	11.12	13.66	6.93	13.14	10.95	14.66	19.13
Price to Tangible Book Value (P/TBV)	8.47	8.43	9.87	11.12	13.66	6.93	13.14	10.95	14.66	19.13
Price to Revenue (P/Rev)	7.12	6.62	6.50	6.50	5.90	4.51	8.53	6.41	7.73	9.31
Price to Earnings (P/E)	20.55	19.60	18.48	15.05	16.17	18.71	19.43	15.87	19.18	23.44
Dividend Yield	4.99%	5.68%	6.18%	6.66%	7.51%	8.84%	5.38%	6.65%	5.56%	4.76%
Earnings Yield	4.87%	5.10%	5.41%	6.64%	6.18%	5.34%	5.15%	6.30%	5.21%	4.27%
Enterprise Value to Invested Capital (EV/IC)	2.47	2.36	2.38	2.46	2.40	1.78	2.91	2.54	3.15	3.72
Enterprise Value to Revenue (EV/Rev)	10.56	10.13	10.07	9.96	9.38	8.54	12.01	9.60	10.81	12.06
Enterprise Value to EBITDA (EV/EBITDA)	14.22	13.47	12.21	13.19	12.58	11.83	15.69	12.72	13.49	16.16
Enterprise Value to EBIT (EV/EBIT)	20.83	19.95	17.38	19.31	18.63	19.95	23.71	18.79	19.11	23.27
Enterprise Value to NOPAT (EV/NOPAT)	21.09	20.58	20.07	19.55	18.81	19.88	27.99	20.55	21.79	23.52
Enterprise Value to Operating Cash Flow (EV/OCF)	18.38	16.33	15.49	14.98	14.17	16.91	16.90	13.49	15.56	18.86
Enterprise Value to Free Cash Flow (EV/FCFF)	25.79	29.64	20.28	16.41	16.99	16.20	19.70	14.11	18.05	22.82
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.28	4.51	5.56	5.79	7.72	7.31	5.75	6.53	7.06	6.74
Long-Term Debt to Equity	4.28	4.51	5.56	5.79	7.72	7.31	5.75	6.53	7.06	6.74
Financial Leverage	2.97	3.44	3.90	4.46	5.34	5.57	4.36	4.01	4.25	4.32
Leverage Ratio	5.36	5.96	6.65	7.44	8.65	9.73	8.51	8.12	8.96	9.15
Compound Leverage Factor	3.26	3.82	4.70	5.36	5.95	5.86	5.73	5.84	6.57	6.25
Debt to Total Capital	81.05%	81.84%	84.76%	85.27%	88.53%	87.96%	85.19%	86.72%	87.59%	87.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	81.05%	81.84%	84.76%	85.27%	88.53%	87.96%	85.19%	86.72%	87.59%	87.08%
Preferred Equity to Total Capital	0.16%	0.15%	0.15%	0.00%	0.16%	0.14%	0.14%	0.14%	0.14%	0.15%
Noncontrolling Interests to Total Capital	2.79%	2.80%	2.56%	2.67%	2.21%	2.04%	3.50%	2.38%	2.24%	2.36%
Common Equity to Total Capital	16.01%	15.20%	12.54%	12.06%	9.10%	9.87%	11.17%	10.76%	10.03%	10.41%
Debt to EBITDA	5.74	5.62	5.40	5.47	5.63	8.03	6.46	6.25	5.74	5.45
Net Debt to EBITDA	4.42	4.46	4.16	4.41	4.52	5.39	4.27	4.05	3.69	3.54
Long-Term Debt to EBITDA	5.74	5.62	5.40	5.47	5.63	8.03	6.46	6.25	5.74	5.45
Debt to NOPAT	8.50	8.59	8.88	8.11	8.42	13.50	11.53	10.10	9.27	7.93
Net Debt to NOPAT	6.56	6.82	6.83	6.54	6.76	9.06	7.63	6.55	5.97	5.15
Long-Term Debt to NOPAT	8.50	8.59	8.88	8.11	8.42	13.50	11.53	10.10	9.27	7.93
Altman Z-Score	1.10	1.10	1.10	1.37	1.03	0.49	1.06	0.87	1.09	1.40
Noncontrolling Interest Sharing Ratio	15.53%	15.91%	16.97%	17.93%	19.24%	19.26%	21.62%	21.98%	19.07%	19.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.49	1.01	1.75	0.00	0.00	1.25	1.01	0.97	1.18	1.28
Quick Ratio	0.49	1.01	1.75	0.00	0.00	1.25	1.01	0.97	1.18	1.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,156	1,858	2,745	3,425	3,176	2,429	3,121	3,602	3,389	3,153
Operating Cash Flow to CapEx	306.17%	442.66%	504.63%	626.52%	434.68%	516.24%	692.92%	638.01%	495.51%	544.65%
Free Cash Flow to Firm to Interest Expense	2.06	1.87	2.93	4.20	3.51	3.10	3.68	4.73	3.97	3.48
Operating Cash Flow to Interest Expense	2.90	3.39	3.83	4.60	4.20	2.97	4.29	4.95	4.60	4.21
Operating Cash Flow Less CapEx to Interest Expense	1.95	2.63	3.07	3.86	3.24	2.39	3.67	4.17	3.67	3.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.18	0.17	0.18	0.19	0.14	0.15	0.16	0.17	0.18
Accounts Receivable Turnover	8.74	8.43	7.86	7.49	7.21	4.45	4.75	6.07	6.86	7.35
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.23	0.24	0.26	0.28
Accounts Payable Turnover	0.08	0.08	0.44	0.00	0.00	0.00	0.37	0.38	0.06	0.06
Days Sales Outstanding (DSO)	41.75	43.29	46.47	48.70	50.61	81.95	76.91	60.12	53.20	49.65
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	4,365.44	4,326.83	839.11	0.00	0.00	0.00	978.28	957.05	5,976.25	5,918.33
Cash Conversion Cycle (CCC)	-4,323.69	-4,283.54	-792.65	48.70	50.61	81.95	-901.37	-896.93	-5,923.04	-5,868.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	22,533	23,350	23,378	22,828	22,521	22,072	21,147	20,018	19,436	19,342
Invested Capital Turnover	0.24	0.24	0.24	0.24	0.25	0.21	0.24	0.26	0.29	0.31
Increase / (Decrease) in Invested Capital	480	817	28	-550	-307	-450	-925	-1,129	-582	-94
Enterprise Value (EV)	55,591	55,059	55,675	56,204	53,968	39,345	61,461	50,822	61,175	71,937
Market Capitalization	37,487	35,977	35,940	36,673	33,931	20,757	43,635	33,903	43,723	55,499
Book Value per Share	$14.31	$13.58	$11.72	$10.66	$8.09	$9.80	$10.10	$9.47	$9.14	$8.89
Tangible Book Value per Share	$14.31	$13.58	$11.72	$10.66	$8.09	$9.80	$10.10	$9.47	$9.14	$8.89
Total Capital	27,659	28,075	29,062	27,333	27,294	30,382	29,722	28,784	29,721	27,864
Total Debt	22,417	22,977	24,632	23,306	24,163	26,723	25,321	24,960	26,033	24,264
Total Long-Term Debt	22,417	22,977	24,632	23,306	24,163	26,723	25,321	24,960	26,033	24,264
Net Debt	17,291	18,252	18,949	18,801	19,391	17,927	16,745	16,192	16,746	15,740
Capital Expenditures (CapEx)	988	762	712	599	876	451	525	590	793	700
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,068	-549	-527	764	832	-562	-515	-670	-869	-918
Debt-free Net Working Capital (DFNWC)	-1,367	11	956	1,278	1,502	450	19	-48	300	482
Net Working Capital (NWC)	-1,367	11	956	1,278	1,502	450	19	-48	300	482
Net Nonoperating Expense (NNE)	496	540	529	52	446	702	-373	20	190	330
Net Nonoperating Obligations (NNO)	17,291	18,252	18,949	18,801	19,391	18,414	16,746	16,194	15,748	15,742
Total Depreciation and Amortization (D&A)	1,239	1,328	1,357	1,350	1,394	1,355	1,326	1,292	1,334	1,360
Debt-free, Cash-free Net Working Capital to Revenue	-39.27%	-10.11%	-9.53%	13.53%	14.46%	-12.20%	-10.07%	-12.66%	-15.36%	-15.40%
Debt-free Net Working Capital to Revenue	-25.95%	0.20%	17.29%	22.64%	26.09%	9.76%	0.37%	-0.91%	5.30%	8.08%
Net Working Capital to Revenue	-25.95%	0.20%	17.29%	22.64%	26.09%	9.76%	0.37%	-0.91%	5.30%	8.08%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.88	$5.87	$6.24	$7.87	$6.81	$3.59	$6.84	$6.52	$6.98	$7.26
Adjusted Weighted Average Basic Shares Outstanding	314.81M	319.83M	320.34M	308.97M	306.87M	328.50M	328.60M	326.93M	325.90M	326.28M
Adjusted Diluted Earnings per Share	$5.88	$5.87	$6.24	$7.87	$6.81	$3.59	$0.00	$0.00	$6.98	$7.26
Adjusted Weighted Average Diluted Shares Outstanding	314.81M	319.83M	320.34M	308.97M	306.87M	328.50M	328.60M	326.93M	325.90M	326.28M
Adjusted Basic & Diluted Earnings per Share	$5.88	$5.87	$6.24	$7.87	$6.81	$3.59	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	314.81M	319.83M	320.34M	308.97M	306.87M	328.50M	328.60M	326.93M	325.90M	326.28M
Normalized Net Operating Profit after Tax (NOPAT)	2,636	2,675	2,773	2,875	2,854	1,380	2,196	2,473	1,967	3,059
Normalized NOPAT Margin	50.05%	49.22%	50.18%	50.92%	49.59%	29.96%	42.91%	46.73%	34.76%	51.29%
Pre Tax Income Margin	30.84%	32.49%	40.97%	37.11%	34.59%	25.77%	34.09%	36.73%	41.47%	35.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.55	2.78	3.41	3.57	3.20	2.51	3.06	3.55	3.75	3.41
NOPAT to Interest Expense	2.52	2.69	2.96	3.52	3.17	2.52	2.59	3.25	3.28	3.38
EBIT Less CapEx to Interest Expense	1.61	2.01	2.66	2.83	2.23	1.94	2.44	2.78	2.82	2.64
NOPAT Less CapEx to Interest Expense	1.58	1.92	2.20	2.79	2.20	1.95	1.97	2.47	2.36	2.60
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	103.02%	110.82%	115.06%	102.70%	123.43%	130.94%	104.94%	106.84%	108.47%	112.38%
Augmented Payout Ratio	103.02%	110.83%	115.06%	115.25%	138.28%	130.94%	104.94%	114.20%	113.84%	112.38%

This table displays calculated financial ratios and metrics derived from Simon Property Group's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.48%	5.56%	4.24%	7.01%	7.23%	9.11%	6.79%	6.47%	4.94%	3.59%
EBITDA Growth	-11.35%	3.16%	10.06%	-8.72%	22.44%	33.40%	4.54%	5.16%	-6.42%	-8.12%
EBIT Growth	-15.54%	5.65%	15.87%	-14.99%	30.70%	50.44%	6.33%	8.60%	-9.93%	-13.20%
NOPAT Growth	19.38%	16.36%	9.40%	7.17%	2.01%	31.25%	-2.17%	15.77%	16.98%	13.39%
Net Income Growth	-20.14%	34.69%	6.34%	-2.10%	9.47%	11.23%	61.99%	2.14%	-19.70%	-10.21%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	7.65%	5.34%	4.65%	2.59%	-0.61%	11.22%	-6.71%	-5.87%	-4.60%	4.71%
Free Cash Flow Firm Growth	48.52%	20.02%	-16.94%	-8.49%	-13.66%	-20.68%	-21.56%	-27.30%	-30.93%	-27.81%
Invested Capital Growth	-5.11%	-5.34%	-4.10%	-4.60%	-4.16%	-2.91%	-2.70%	-2.09%	-1.40%	-0.48%
Revenue Q/Q Growth	2.81%	6.39%	-3.50%	1.39%	3.02%	8.26%	-5.55%	1.09%	1.54%	6.86%
EBITDA Q/Q Growth	-14.46%	1.31%	2.63%	2.62%	14.74%	10.38%	-19.57%	3.22%	2.11%	8.38%
EBIT Q/Q Growth	-20.16%	-1.13%	6.17%	1.42%	22.76%	13.81%	-24.96%	3.59%	1.81%	9.67%
NOPAT Q/Q Growth	6.32%	-5.79%	12.85%	-5.19%	1.19%	21.22%	-15.88%	12.20%	2.25%	17.50%
Net Income Q/Q Growth	9.20%	24.27%	-32.80%	7.37%	22.11%	26.26%	-2.13%	-32.30%	-4.00%	41.17%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-14.47%	-1.01%	-11.10%	36.30%	-17.14%	10.78%	-25.43%	37.52%	-16.02%	21.58%
Free Cash Flow Firm Q/Q Growth	-0.15%	-0.49%	-11.19%	3.71%	-5.80%	-8.57%	-12.19%	-3.88%	-10.50%	-4.45%
Invested Capital Q/Q Growth	-1.16%	-2.03%	0.16%	-1.63%	-0.71%	-0.76%	0.38%	-1.02%	0.00%	0.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	89.17%	88.80%	90.09%	89.69%	88.72%	122.07%	89.47%	89.32%	88.92%	123.18%
EBITDA Margin	73.61%	70.09%	74.55%	75.45%	84.04%	85.69%	72.98%	74.52%	74.94%	76.01%
Operating Margin	49.57%	48.88%	49.06%	48.04%	49.20%	51.86%	50.96%	51.71%	51.85%	52.82%
EBIT Margin	49.57%	46.06%	50.68%	50.70%	60.42%	63.51%	50.46%	51.71%	51.85%	53.22%
Profit (Net Income) Margin	47.26%	55.20%	38.44%	40.71%	48.25%	56.27%	58.31%	39.05%	36.92%	48.78%
Tax Burden Percent	133.93%	174.06%	107.02%	98.37%	92.53%	153.68%	165.47%	99.04%	91.13%	180.69%
Interest Burden Percent	71.19%	68.85%	70.87%	81.62%	86.31%	57.65%	69.83%	76.25%	78.13%	50.73%
Effective Tax Rate	1.78%	11.79%	-2.77%	1.85%	5.87%	0.00%	9.36%	0.86%	0.43%	-7.47%
Return on Invested Capital (ROIC)	12.11%	11.08%	13.16%	12.69%	12.80%	14.88%	13.43%	15.34%	15.69%	17.46%
ROIC Less NNEP Spread (ROIC-NNEP)	11.99%	12.11%	12.18%	12.15%	12.97%	15.30%	14.52%	14.22%	14.32%	16.66%
Return on Net Nonoperating Assets (RNNOA)	47.47%	48.51%	50.43%	52.23%	54.89%	65.06%	62.68%	63.81%	66.01%	71.99%
Return on Equity (ROE)	59.58%	59.59%	63.60%	64.92%	67.69%	79.93%	76.11%	79.15%	81.70%	89.45%
Cash Return on Invested Capital (CROIC)	16.61%	17.50%	16.56%	17.47%	17.18%	17.18%	17.29%	17.36%	17.09%	16.26%
Operating Return on Assets (OROA)	7.75%	7.30%	8.12%	8.36%	10.16%	10.68%	8.66%	9.12%	9.25%	9.52%
Return on Assets (ROA)	7.39%	8.75%	6.16%	6.72%	8.12%	9.46%	10.01%	6.89%	6.59%	8.72%
Return on Common Equity (ROCE)	44.46%	46.49%	49.29%	49.90%	52.14%	64.69%	61.66%	63.80%	65.78%	72.21%
Return on Equity Simple (ROE_SIMPLE)	74.58%	0.00%	82.68%	86.06%	85.69%	0.00%	94.62%	100.21%	103.82%	0.00%
Net Operating Profit after Tax (NOPAT)	641	604	681	646	653	792	666	748	764	898
NOPAT Margin	48.69%	43.11%	50.42%	47.15%	46.31%	51.86%	46.19%	51.27%	51.63%	56.77%
Net Nonoperating Expense Percent (NNEP)	0.11%	-1.03%	0.98%	0.54%	-0.17%	-0.42%	-1.09%	1.12%	1.36%	0.80%
Return On Investment Capital (ROIC_SIMPLE)	2.28%	2.11%	2.35%	2.28%	2.31%	2.68%	2.29%	2.61%	2.68%	3.25%
Cost of Revenue to Revenue	10.83%	11.20%	9.91%	10.31%	11.28%	-22.07%	10.53%	10.69%	11.08%	-23.18%
SG&A Expenses to Revenue	2.93%	3.97%	4.07%	4.04%	3.57%	4.30%	3.48%	3.59%	3.17%	2.84%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	39.60%	39.92%	41.03%	41.65%	39.51%	70.41%	38.51%	37.60%	37.06%	70.36%
Earnings before Interest and Taxes (EBIT)	652	645	685	694	852	970	728	754	768	842
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	969	981	1,007	1,033	1,186	1,309	1,053	1,087	1,110	1,203
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.57	10.95	11.07	12.15	11.24	14.66	15.85	16.43	20.14	19.13
Price to Tangible Book Value (P/TBV)	8.57	10.95	11.07	12.15	11.24	14.66	15.85	16.43	20.14	19.13
Price to Revenue (P/Rev)	4.90	6.41	6.13	6.33	5.92	7.73	8.45	8.17	9.11	9.31
Price to Earnings (P/E)	12.99	15.87	15.17	15.99	14.84	19.18	18.98	18.59	21.98	23.44
Dividend Yield	8.65%	6.65%	7.03%	6.85%	7.35%	5.56%	5.10%	5.29%	4.79%	4.76%
Earnings Yield	7.70%	6.30%	6.59%	6.25%	6.74%	5.21%	5.27%	5.38%	4.55%	4.27%
Enterprise Value to Invested Capital (EV/IC)	2.10	2.54	2.49	2.60	2.52	3.15	3.40	3.39	3.66	3.72
Enterprise Value to Revenue (EV/Rev)	8.24	9.60	9.33	9.43	8.93	10.81	11.54	11.20	11.97	12.06
Enterprise Value to EBITDA (EV/EBITDA)	10.84	12.72	12.20	12.85	11.74	13.49	14.48	14.12	15.52	16.16
Enterprise Value to EBIT (EV/EBIT)	16.10	18.79	17.82	19.16	17.18	19.11	20.44	19.80	21.97	23.27
Enterprise Value to NOPAT (EV/NOPAT)	18.02	20.55	19.69	19.89	19.10	21.79	23.04	21.98	23.20	23.52
Enterprise Value to Operating Cash Flow (EV/OCF)	11.56	13.49	13.11	13.38	12.91	15.56	17.12	17.17	18.79	18.86
Enterprise Value to Free Cash Flow (EV/FCFF)	12.33	14.11	14.71	14.53	14.37	18.05	19.40	19.31	21.29	22.82
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.10	6.53	6.95	7.09	6.90	7.06	6.78	7.05	7.65	6.74
Long-Term Debt to Equity	6.10	6.53	6.95	7.09	6.90	7.06	6.78	7.05	7.65	6.74
Financial Leverage	3.96	4.01	4.14	4.30	4.23	4.25	4.32	4.49	4.61	4.32
Leverage Ratio	7.89	8.12	8.38	8.64	8.60	8.96	9.01	9.31	9.55	9.15
Compound Leverage Factor	5.61	5.59	5.94	7.05	7.42	5.16	6.29	7.09	7.46	4.64
Debt to Total Capital	85.92%	86.72%	87.43%	87.63%	87.34%	87.59%	87.15%	87.58%	88.44%	87.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	85.92%	86.72%	87.43%	87.63%	87.34%	87.59%	87.15%	87.58%	88.44%	87.08%
Preferred Equity to Total Capital	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.15%
Noncontrolling Interests to Total Capital	3.54%	2.38%	2.30%	2.30%	2.31%	2.24%	2.24%	2.22%	2.12%	2.36%
Common Equity to Total Capital	10.39%	10.76%	10.13%	9.92%	10.21%	10.03%	10.47%	10.06%	9.30%	10.41%
Debt to EBITDA	6.21	6.25	6.25	6.26	5.92	5.74	5.57	5.46	5.58	5.45
Net Debt to EBITDA	4.13	4.05	4.00	4.06	3.80	3.69	3.72	3.67	3.57	3.54
Long-Term Debt to EBITDA	6.21	6.25	6.25	6.26	5.92	5.74	5.57	5.46	5.58	5.45
Debt to NOPAT	10.33	10.10	10.09	9.69	9.63	9.27	8.86	8.50	8.34	7.93
Net Debt to NOPAT	6.87	6.55	6.46	6.28	6.17	5.97	5.92	5.72	5.34	5.15
Long-Term Debt to NOPAT	10.33	10.10	10.09	9.69	9.63	9.27	8.86	8.50	8.34	7.93
Altman Z-Score	0.50	0.67	0.66	0.68	0.65	0.88	0.99	0.97	1.11	1.17
Noncontrolling Interest Sharing Ratio	25.38%	21.98%	22.49%	23.14%	22.98%	19.07%	18.98%	19.40%	19.48%	19.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.98	0.97	1.43	1.02	0.94	1.18	1.34	1.24	1.81	1.28
Quick Ratio	0.98	0.97	1.43	1.02	0.94	1.18	1.34	1.24	1.81	1.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,741	1,733	1,539	1,596	1,503	1,374	1,207	1,160	1,038	992
Operating Cash Flow to CapEx	605.35%	505.25%	499.00%	510.56%	411.02%	581.50%	474.37%	564.40%	479.07%	498.26%
Free Cash Flow to Firm to Interest Expense	9.27	8.62	7.72	7.32	7.08	6.11	5.23	5.24	4.59	4.36
Operating Cash Flow to Interest Expense	5.01	4.64	4.16	5.18	4.41	4.61	3.35	4.80	3.94	4.77
Operating Cash Flow Less CapEx to Interest Expense	4.18	3.72	3.32	4.16	3.34	3.82	2.65	3.95	3.12	3.82
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.16	0.16	0.17	0.17	0.17	0.17	0.18	0.18	0.18
Accounts Receivable Turnover	6.03	6.07	6.68	6.94	7.13	6.86	7.31	7.63	7.75	7.35
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.24	0.24	0.24	0.25	0.26	0.26	0.27	0.27	0.28	0.28
Accounts Payable Turnover	0.62	0.38	0.44	0.40	0.39	0.06	0.08	0.08	0.08	0.06
Days Sales Outstanding (DSO)	60.50	60.12	54.60	52.61	51.21	53.20	49.93	47.86	47.11	49.65
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	588.96	957.05	826.07	915.48	940.84	5,976.25	4,562.98	4,461.15	4,399.30	5,918.33
Cash Conversion Cycle (CCC)	-528.46	-896.93	-771.47	-862.87	-889.62	-5,923.04	-4,513.06	-4,413.29	-4,352.19	-5,868.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	20,434	20,018	20,050	19,723	19,584	19,436	19,509	19,311	19,310	19,342
Invested Capital Turnover	0.25	0.26	0.26	0.27	0.28	0.29	0.29	0.30	0.30	0.31
Increase / (Decrease) in Invested Capital	-1,101	-1,129	-858	-950	-850	-582	-540	-412	-274	-94
Enterprise Value (EV)	42,991	50,822	49,879	51,283	49,400	61,175	66,333	65,416	70,745	71,937
Market Capitalization	25,541	33,903	32,794	34,393	32,732	43,723	48,590	47,711	53,810	55,499
Book Value per Share	$9.10	$9.47	$9.06	$8.66	$8.90	$9.14	$9.40	$8.91	$8.20	$8.89
Tangible Book Value per Share	$9.10	$9.47	$9.06	$8.66	$8.90	$9.14	$9.40	$8.91	$8.20	$8.89
Total Capital	28,677	28,784	29,247	28,518	28,530	29,721	29,281	28,874	28,740	27,864
Total Debt	24,640	24,960	25,570	24,990	24,917	26,033	25,519	25,288	25,418	24,264
Total Long-Term Debt	24,640	24,960	25,570	24,990	24,917	26,033	25,519	25,288	25,418	24,264
Net Debt	16,394	16,192	16,370	16,193	15,968	16,746	17,046	17,022	16,286	15,740
Capital Expenditures (CapEx)	156	184	166	221	228	178	163	188	186	218
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-630	-670	-575	-809	-872	-869	-736	-836	-854	-918
Debt-free Net Working Capital (DFNWC)	-28	-48	581	29	-103	300	515	398	1,316	482
Net Working Capital (NWC)	-28	-48	581	29	-103	300	515	398	1,316	482
Net Nonoperating Expense (NNE)	19	-169	162	88	-27	-67	-175	178	218	126
Net Nonoperating Obligations (NNO)	16,397	16,194	16,373	16,196	15,971	15,748	15,747	15,724	15,988	15,742
Total Depreciation and Amortization (D&A)	316	336	322	339	333	339	325	333	342	361
Debt-free, Cash-free Net Working Capital to Revenue	-12.07%	-12.66%	-10.75%	-14.87%	-15.77%	-15.36%	-12.80%	-14.32%	-14.45%	-15.40%
Debt-free Net Working Capital to Revenue	-0.54%	-0.91%	10.86%	0.53%	-1.86%	5.30%	8.96%	6.82%	22.27%	8.08%
Net Working Capital to Revenue	-0.54%	-0.91%	10.86%	0.53%	-1.86%	5.30%	8.96%	6.82%	22.27%	8.08%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.65	$2.06	$1.38	$1.49	$1.82	$2.29	$2.25	$1.51	$1.46	$2.04
Adjusted Weighted Average Basic Shares Outstanding	326.95M	326.93M	327.00M	327.20M	326.25M	325.90M	325.94M	326.04M	326.28M	326.28M
Adjusted Diluted Earnings per Share	$1.65	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	326.95M	326.93M	327.00M	327.20M	326.25M	325.90M	325.94M	326.04M	326.28M	326.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	326.95M	326.93M	327.00M	327.20M	326.25M	325.90M	325.94M	326.04M	326.28M	326.28M
Normalized Net Operating Profit after Tax (NOPAT)	641	604	464	646	653	554	666	748	764	585
Normalized NOPAT Margin	48.69%	43.11%	34.34%	47.15%	46.31%	36.30%	46.19%	51.27%	51.63%	36.97%
Pre Tax Income Margin	35.29%	31.71%	35.92%	41.38%	52.14%	36.61%	35.24%	39.43%	40.51%	27.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.47	3.21	3.43	3.18	4.02	4.31	3.16	3.41	3.39	3.70
NOPAT to Interest Expense	3.41	3.00	3.42	2.96	3.08	3.52	2.89	3.38	3.38	3.95
EBIT Less CapEx to Interest Expense	2.64	2.29	2.60	2.17	2.94	3.52	2.45	2.56	2.57	2.74
NOPAT Less CapEx to Interest Expense	2.58	2.09	2.58	1.95	2.01	2.73	2.18	2.53	2.55	2.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	113.49%	106.84%	107.88%	110.48%	110.67%	108.47%	98.53%	100.04%	106.22%	112.38%
Augmented Payout Ratio	121.50%	114.20%	107.88%	110.48%	114.85%	113.84%	98.53%	100.04%	107.47%	112.38%

Frequently Asked Questions About Simon Property Group's Financials

When does Simon Property Group's financial year end?

According to the most recent income statement we have on file, Simon Property Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Simon Property Group's net income changed over the last 9 years?

Simon Property Group's net income appears to be on an upward trend, with a most recent value of $2.73 billion in 2024, rising from $2.14 billion in 2015. The previous period was $2.62 billion in 2023.

What is Simon Property Group's operating income?

Simon Property Group's total operating income in 2024 was $3.09 billion, based on the following breakdown:

Total Gross Profit: $5.86 billion
Total Operating Expenses: $2.77 billion

How has Simon Property Group revenue changed over the last 9 years?

Over the last 9 years, Simon Property Group's total revenue changed from $5.27 billion in 2015 to $5.96 billion in 2024, a change of 13.2%.

How much debt does Simon Property Group have?

Simon Property Group's total liabilities were at $28.81 billion at the end of 2024, a 5.8% decrease from 2023, and a 13.8% increase since 2015.

How much cash does Simon Property Group have?

In the past 9 years, Simon Property Group's cash and equivalents has ranged from $514.34 million in 2018 to $1.48 billion in 2017, and is currently $1.40 billion as of their latest financial filing in 2024.

How has Simon Property Group's book value per share changed over the last 9 years?

Over the last 9 years, Simon Property Group's book value per share changed from 14.31 in 2015 to 8.89 in 2024, a change of -37.9%.

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This page (NYSE:SPG) was last updated on 4/14/2025 by MarketBeat.com Staff

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Simon Property Group (SPG) Financials

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