Stock SPG SIMON PROPERTY GROUP, INC.
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Financials Simon Property Group, Inc.

Equities

SPG

US8288061091

Commercial REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
142.4 USD -0.26% Intraday chart for Simon Property Group, Inc. +1.37% -0.20%
Mar. 25 Truist Securities Adjusts Price Target on Simon Property to $147 From $139, Maintains Hold Rating MT
Mar. 25 Wall Street: breathless but positive week by +2 CF

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 45,711 27,983 52,503 38,606 46,536 46,377 - -
Enterprise Value (EV) 1 69,205 53,695 77,291 62,945 71,400 72,192 72,020 70,264
P/E ratio 21.9 x 23.8 x 23.4 x 18 x 20.4 x 23.9 x 23.1 x 22.8 x
Yield 5.57% 7.04% 3.66% 5.87% - 5.52% 5.72% 5.87%
Capitalization / Revenue 7.94 x 6.07 x 10.3 x 7.3 x 8.22 x 8.55 x 8.33 x 8.15 x
EV / Revenue 12 x 11.7 x 15.1 x 11.9 x 12.6 x 13.3 x 12.9 x 12.3 x
EV / EBITDA 16.3 x 16.3 x 21 x 16.5 x 17.5 x 17.2 x 16.7 x 16 x
EV / FCF 23.6 x 29.1 x 24.9 x 20.2 x - 37.1 x 42.3 x 28.4 x
FCF Yield 4.24% 3.43% 4.02% 4.95% - 2.7% 2.37% 3.53%
Price to Book 18.1 x 9.22 x 15.6 x 13.4 x 15.4 x 21.2 x 29 x 39.6 x
Nbr of stocks (in thousands) 306,869 328,136 328,619 328,619 326,247 325,774 - -
Reference price 2 149.0 85.28 159.8 117.5 142.6 142.4 142.4 142.4
Announcement Date 2/4/20 2/8/21 2/7/22 2/6/23 2/5/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,755 4,608 5,117 5,291 5,659 5,426 5,565 5,691
EBITDA 1 4,248 3,290 3,676 3,811 4,069 4,192 4,305 4,397
EBIT 1 2,908 1,972 2,413 2,584 2,807 2,898 2,980 2,937
Operating Margin 50.53% 42.8% 47.16% 48.83% 49.6% 53.4% 53.55% 51.6%
Earnings before Tax (EBT) 1 2,002 1,187 1,617 1,822 2,314 2,050 2,141 2,195
Net income 1 2,098 1,109 2,246 2,136 2,280 2,087 2,188 2,231
Net margin 36.46% 24.07% 43.9% 40.37% 40.29% 38.47% 39.31% 39.2%
EPS 2 6.810 3.590 6.840 6.520 6.980 5.948 6.150 6.235
Free Cash Flow 1 2,932 1,843 3,109 3,117 - 1,946 1,704 2,477
FCF margin 50.94% 39.99% 60.77% 58.9% - 35.88% 30.63% 43.52%
FCF Conversion (EBITDA) 69.01% 56.01% 84.59% 81.78% - 46.44% 39.59% 56.34%
FCF Conversion (Net income) 139.73% 166.11% 138.43% 145.89% - 93.25% 77.9% 111.04%
Dividend per Share 2 8.300 6.000 5.850 6.900 - 7.853 8.136 8.356
Announcement Date 2/4/20 2/8/21 2/7/22 2/6/23 2/5/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 1,297 1,326 1,296 1,280 1,316 1,400 1,351 1,370 1,411 1,527 1,329 1,329 1,360 1,439 -
EBITDA 1 923.7 911.4 930.6 925 821.6 1,001 969.8 977.5 1,009 1,112 996.8 1,000 1,037 1,116 1,007
EBIT 1 612.3 591.5 620.4 626.8 652.2 684.2 662.7 657.9 694.2 792.1 664.5 671.7 713.5 779.8 679.5
Operating Margin 47.23% 44.61% 47.87% 48.97% 49.57% 48.88% 49.06% 48.04% 49.2% 51.86% 50.01% 50.56% 52.46% 54.2% -
Earnings before Tax (EBT) 1 412.6 398 435.2 439.4 464.3 483.3 463.3 439.8 640.2 734.6 454.4 501.9 538.3 613.7 487.4
Net income 1 679.9 503.2 426.6 496.7 539 673.8 451.8 486.3 594.1 747.5 456.1 499.1 520.9 620.9 486.4
Net margin 52.44% 37.95% 32.92% 38.81% 40.97% 48.13% 33.45% 35.51% 42.11% 48.94% 34.33% 37.57% 38.3% 43.15% -
EPS 2 2.070 1.530 1.300 1.510 1.650 2.060 1.380 1.490 1.820 2.290 1.325 1.438 1.498 1.751 1.500
Dividend per Share 2 1.500 1.650 1.650 1.750 1.750 1.800 1.800 1.850 1.900 - 1.944 1.944 1.963 1.974 2.013
Announcement Date 11/1/21 2/7/22 5/9/22 8/1/22 11/1/22 2/6/23 5/2/23 8/2/23 10/30/23 2/5/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 23,494 25,712 24,787 24,339 24,864 25,815 25,643 23,887
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.53 x 7.816 x 6.743 x 6.387 x 6.111 x 6.159 x 5.956 x 5.433 x
Free Cash Flow 1 2,932 1,843 3,109 3,117 - 1,946 1,704 2,477
ROE (net income / shareholders' equity) 72.1% 39.9% 70.2% 63.7% 62% 74.1% 111% 203%
ROA (Net income/ Total Assets) 6.78% 3.36% 6.55% 6.4% 5.67% 5.72% 6.11% 6.6%
Assets 1 30,959 33,009 34,282 33,394 40,184 36,512 35,797 33,800
Book Value Per Share 2 8.230 9.250 10.20 8.750 9.280 6.720 4.910 3.600
Cash Flow per Share 2 12.40 7.540 11.10 10.00 - 9.840 9.950 10.30
Capex 1 876 484 528 650 - 641 895 911
Capex / Sales 15.22% 10.51% 10.32% 12.28% - 11.81% 16.09% 16.01%
Announcement Date 2/4/20 2/8/21 2/7/22 2/6/23 2/5/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Simon Property Group, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
142.4 USD
Average target price
157 USD
Spread / Average Target
+10.28%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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