Is Simon Property Group (SPG) overvalued or fairly valued?

MarketChacha shows Simon Property Group's valuation in context — a trailing P/E of about 14.6, a forward P/E of about 30.3, a price-to-book of about 15.1 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Simon Property Group's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.11×) from reported figures — education, not a rating.

What is Simon Property Group's revenue?

Simon Property Group reported revenue of $6.4B for FY2025, with net profit of $5.4B, per official filings.

What is the share price of Simon Property Group (SPG)?

Simon Property Group last traded at $206.99 (+2.2% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Simon Property Group

SPG · NYSE · Real Estate · United States

Snapshot

TickerSPG

ExchangeNYSE

SectorReal Estate

IndustryREIT - Retail

CountryUnited States

Employees3,100

HeadquartersIndianapolis, United States

Websitewww.simon.com

Filings tracked18

About Simon Property Group

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. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc., the Operating Partnership, and its subsidiaries. We own, develop and manage premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets, The Mills, and International Properties. At December 31, 2024, we owned or had an interest in 229 properties comprising 183 million square feet in North America, Asia and Europe. We also owned an 88% interest in The Taubman Realty Group, or TRG, which owns 22 regional, super-regional, and outlet malls in the U.S. and Asia. Additionally, at December 31, 2024, we had a 22.4% ownership interest in Klepierre, a publicly traded, Paris-based real estate company, which owns shopping centers in 14 European countries. Simon Property Group, Inc. was incorporated in 1960 and is based in Indianapolis, Indiana.

Who owns it

Insiders1.8%
Institutions95.9%
Public & other2.3%

1,867 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.11.52%
Vanguard Portfolio Management LLC8.62%
Vanguard Capital Management LLC6.38%
State Street Corporation6.29%
Geode Capital Management, LLC3.50%
Capital World Investors3.25%
Wellington Management Group, LLP2.90%
Bank of America Corporation2.55%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Profit has grown much faster than revenue while recent results carried sizeable one-off items — some of the profit growth may not repeat.

Cash conversion1.11×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend46.2% → 45.8%

Margin has held broadly steady over the period — stable profitability.

Return on equity103.0%

Latest ROE of 103.0% — capital is generating a healthy return.

Growth qualityrev 6% · PAT 43%

Profit has grown much faster than revenue while recent results carried sizeable one-off items — some of the profit growth may not repeat.

One-off items1 of last 3 yrs

Recent reported profit includes sizeable one-off / non-operating items — the underlying operating trend may differ from the headline.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $1.7B · EPS 1.84

Est. earnings growth +76.0%

Next fiscal year

Rev $6.9B · EPS 6.77

Est. earnings growth +15.8%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$6.4B

ROE

103.0%

Revenue CAGR (2y)

+6.1%

Profit CAGR (2y)

+43.2%

EPS (FY2025)

14.17

Net profit (FY2025)

$5.4B

Ask MarketChacha about SPG

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$6.4B	$5.4B*	14.17	—	103.0%
FY2024	$6.0B	$2.7B	7.26	45.8%	92.8%
FY2023	$5.7B	$2.6B	6.98	46.2%	86.6%

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$1.8B	$574.1M	1.49	32.1%
2026Q1	$1.8B	$568.5M	1.48	32.4%
2025Q4	$1.8B	$3.5B*	9.35	—
2025Q3	$1.6B	$702.7M	1.86	43.9%
2025Q2	$1.5B	$643.7M	1.70	43.0%
2025Q1	$1.5B	$477.9M	1.27	32.4%
2024Q4	$1.6B	$771.8M	2.04	48.8%
2024Q3	$1.5B	$546.7M	1.46	36.9%
2024Q2	$1.5B	$569.4M	1.51	39.0%
2024Q1	$1.4B	$841.2M	2.25	58.3%
2023Q4	$1.5B	$859.5M	2.29	56.3%
2023Q3	$1.4B	$680.8M	1.82	48.2%
2023Q2	$1.4B	$557.5M	1.49	40.7%

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/10/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/10/2026material
8-K — Shareholder vote results
SEC5/15/2026material
8-K/A — Executive/director change
SEC5/15/2026
8-K/A — Executive/director change
SEC5/15/2026
10-Q filing
SEC5/11/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC5/11/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC3/24/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC3/5/2026material
10-K filing
SEC2/25/2026
8-K — Executive/director change, Exhibits
SEC2/5/2026material
8-K — Other events, Exhibits
SEC2/5/2026material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC2/2/2026material

2025

10-Q filing
SEC11/6/2025
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC11/3/2025material
10-Q filing
SEC8/7/2025
8-K — Executive/director change, Exhibits
SEC8/7/2025material
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC8/4/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.