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Simon Property Group Inc (SPG) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Retail REITs · DATA UPDATED 2026-07-13

Simon Property Group Inc (SPG) operates in the Retail REITs industry and is headquartered in Indianapolis, United States with about 3,100 employees. Its market capitalization is roughly $87 billion. In the fiscal year ended 2025-12-31, SPG reported $6.4B in revenue and $4.6B in net income.

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets.

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SPG Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$6.6B	$6.4B	$6.0B	$5.7B	$5.3B	$5.1B	$4.6B	$5.8B	$5.6B	$5.5B	$5.4B	$5.3B	$4.9B	$4.5B	$4.3B	$4.3B	$4.0B	$3.8B	$3.8B	$3.7B	$3.3B
Gross Profit	$5.7B	$5.5B	$4.9B	$4.7B	$4.3B	$4.1B	$3.7B	$4.7B	$4.6B	$4.5B	$4.5B	$4.3B	$4.0B	$3.7B	$3.5B	$3.4B	$3.1B	$3.4B	$3.3B	$3.2B	$3.3B
Gross Margin %	85.2%	85.7%	82.5%	83.5%	81.1%	81.0%	80.8%	82.2%	82.2%	82.3%	82.1%	81.8%	81.9%	81.6%	81.2%	78.6%	78.2%	88.7%	87.9%	87.5%	100.0%
Operating Income (EBIT)	$3.2B	$3.2B	$3.1B	$2.8B	$2.6B	$2.4B	$2.0B	$2.9B	$2.9B	$2.8B	$2.7B	$2.7B	$2.4B	$2.2B	$2.0B	$1.9B	$1.7B	$1.4B	$1.5B	$1.5B	$1.3B
Operating Margin %	48.3%	49.9%	51.9%	49.6%	48.8%	47.2%	42.8%	50.6%	51.8%	50.7%	50.1%	50.7%	49.0%	48.2%	47.1%	45.1%	44.1%	37.3%	40.8%	42.0%	39.6%
Net Income	$4.7B	$4.6B	$2.4B	$2.6B	$2.1B	$2.2B	$1.1B	$2.1B	$2.4B	$1.9B	$1.8B	$1.8B	$1.4B	$1.3B	$1.4B	$1.0B	$617M	$309M	$464M	$491M	$564M
Net Margin %	70.4%	72.5%	39.8%	46.2%	40.4%	44.0%	24.1%	36.5%	43.2%	35.2%	33.8%	34.7%	28.9%	29.0%	33.7%	23.8%	15.6%	8.2%	12.3%	13.5%	16.9%
EBITDA	$7.7B	$7.9B	$5.0B	$4.1B	$4.5B	$4.5B	$3.4B	$4.6B	$5.0B	$4.4B	$4.3B	$4.3B	$3.9B	$3.8B	$3.9B	$3.4B	$2.8B	$2.4B	$2.5B	$2.4B	$2.2B
Earnings Per Share (EPS)	$14.35	$14.16	$7.27	$8.01	$6.53	$6.85	$3.60	$6.82	$7.88	$6.25	$5.88	$5.89	$4.53	$4.25	$4.73	$3.49	$2.12	$1.15	$2.05	$2.20	$2.54
Shares Outstanding (M)	324M	326M	326M	327M	328M	329M	309M	308M	310M	312M	313M	310M	311M	310M	303M	294M	291M	268M	226M	224M	222M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SPG Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.8B	$1.8B	$1.6B	$1.5B	$1.5B	$1.6B	$1.5B	$1.5B
Gross Profit	$1.4B	$1.6B	$1.3B	$1.3B	$1.2B	$1.3B	$1.2B	$1.2B
Gross Margin %	80.3%	91.4%	83.4%	85.7%	81.4%	82.8%	82.6%	84.4%
Operating Income (EBIT)	$762M	$891M	$813M	$744M	$728M	$836M	$768M	$754M
Operating Margin %	43.4%	49.7%	50.8%	49.7%	49.4%	52.8%	51.8%	51.7%
Net Income	$480M	$3.0B	$594M	$557M	$415M	$668M	$476M	$494M
Net Margin %	27.3%	170.2%	37.1%	37.2%	28.1%	42.2%	32.1%	33.9%
EBITDA	$1.2B	$4.2B	$1.0B	$1.3B	$1.1B	$1.3B	$1.1B	$1.1B
Earnings Per Share (EPS)	$1.48	$9.35	$1.82	$1.70	$1.27	$2.05	$1.46	$1.52
Shares Outstanding (M)	324M	326M	327M	327M	326M	326M	326M	326M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SPG Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$4.2B	$4.5B	$3.8B	$3.9B	$3.8B	$3.6B	$2.3B	$3.8B	$3.8B	$3.6B	$3.4B	$3.0B	$2.7B	$2.7B	$2.5B	$2.0B	$1.8B	$1.7B	$1.6B	$1.5B	$1.3B
Capital Expenditures (CapEx)	$891M	$912M	$756M	$793M	$650M	$528M	$484M	$876M	$782M	$732M	$798M	$1.0B	$797M	$841M	$802M	$445M	$256M	$376M	$874M	$1.0B	$768M
Free Cash Flow (FCF)	$3.3B	$3.6B	$3.1B	$3.1B	$3.1B	$3.1B	$1.8B	$2.9B	$3.0B	$2.9B	$2.6B	$2.0B	$1.9B	$1.9B	$1.7B	$1.6B	$1.5B	$1.3B	$732M	$438M	$506M
FCF Margin %	49.1%	56.0%	51.3%	55.4%	58.9%	60.8%	40.0%	50.9%	52.6%	51.8%	47.4%	38.0%	39.7%	40.9%	40.2%	36.2%	37.9%	35.6%	19.4%	12.0%	15.2%
Dividends Paid	$3.0B	$2.8B	$2.6B	$2.4B	$2.6B	$2.7B	$1.7B	$2.9B	$2.4B	$2.2B	$2.0B	$2.2B	$1.6B	$1.7B	$1.5B	$1.2B	$919M	$217M	$1.1B	$1.0B	$205M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SPG Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$833M	$1.2B	$890M	$1.2B	$827M	$1.1B	$893M	$1.1B
Capital Expenditures (CapEx)	$208M	$233M	$205M	$244M	$230M	$218M	$186M	$188M
Free Cash Flow (FCF)	$625M	$982M	$685M	$971M	$597M	$868M	$706M	$875M
FCF Margin %	35.6%	54.8%	42.8%	64.8%	40.5%	54.8%	47.7%	60.0%
Dividends Paid	$716M	$718M	$812M	$793M	$793M	$792M	$770M	$751M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SPG Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$39.6B	$40.6B	$32.4B	$34.3B	$33.0B	$33.8B	$34.8B	$31.2B	$30.7B	$32.3B	$31.1B	$30.7B	$29.5B	$33.3B	$32.6B	$26.2B	$24.9B	$25.9B	$23.6B	$23.6B	$22.1B
Cash & Cash Equivalents	$543M	$823M	$1.4B	$1.2B	$622M	$534M	$1.0B	$669M	$514M	$1.5B	$560M	$701M	$612M	$1.7B	$1.2B	$799M	$797M	$4.0B	$774M	$502M	$929M
Total Liabilities	$33.3B	$33.9B	$28.8B	$30.6B	$29.2B	$29.4B	$31.1B	$28.1B	$26.7B	$27.8B	$26.0B	$25.4B	$23.6B	$26.3B	$25.5B	$20.7B	$19.2B	$20.8B	$20.6B	$19.0B	$16.9B
Total Debt (Short + Long-Term)	$28.2B	$35.7B	$26.9B	$29.0B	$25.5B	$25.8B	$27.3B	$25.5B	$24.1B	$25.6B	$23.9B	$23.3B	$20.1B	$23.6B	$45.4B	$16.9B	$34.1B	$16.3B	$16.6B	$17.2B	$15.4B
Total Shareholders' Equity	$4.9B	$5.2B	$2.9B	$3.0B	$3.1B	$3.4B	$3.7B	$3.1B	$4.0B	$4.4B	$5.1B	$5.2B	$5.1B	$5.8B	$5.9B	$4.7B	$4.8B	$4.5B	$3.0B	$3.6B	$4.0B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive SPG viewer.

Other Companies in Retail REITs

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KIM · Kimco Realty — $18 billion
REG · Regency Centers — $15 billion
FRT · Federal Realty Investment Trust — $11 billion

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