Simon Property Group, Inc. (SPG) Financial Statements

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Simon Property financial statements at a glance

Simon Property reported revenue of $6.36 billion for fiscal year 2025 (ended December 31, 2025), up 6.7% from fiscal year 2024. Net income was $4.63 billion, a net margin of 72.7%.

At the end of fiscal year 2025 it had total assets of $40.61 billion, total liabilities of $35.40 billion and shareholders' equity of $5.21 billion, with total debt of $28.43 billion.

Its operations brought in $4.14 billion of cash.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

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Simon Property Group, Inc.

SPGUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Revenue
6.36B
Prev Year: 5.96B
YoY: +6.7%
Total Revenue
-
Cost of Revenue
1.15B
Prev Year: 1.04B
YoY: +10.4%
Gross Profit
5.21B
Prev Year: 4.92B
YoY: +5.9%
SG&A Expenses
468.46M
Prev Year: 412.57M
YoY: +13.5%
Operating Expense
-
Depreciation/Amortization
1.43B
Prev Year: 1.27B
YoY: +12.7%
Other Operating Expenses, Total
142.21M
Prev Year: 149.68M
YoY: -5.0%
Net Non Operating Interest Income Expense
-
Operating Expenses
3.19B
Prev Year: 2.87B
YoY: +11.1%
Other Income Expense
-
Operating Income
3.18B
Prev Year: 3.09B
YoY: +2.7%
Pre-tax Income
-
Interest Inc.(Exp.),Net-Non-Op., Total
-662.95M
Prev Year: -264.69M
YoY: -150.5%
Net Income Before Taxes
5.40B
Prev Year: 2.73B
YoY: +97.9%
Other, Net
-
Prev Year: -23.26M
Net Income Common Stockholders
-
Provision for Income Taxes
35.79M
Diluted NI Available to Com Stockholders
-
Net Income After Taxes
5.36B
Prev Year: 2.73B
YoY: +96.6%
Basic EPS
-
Net Income Before Extra. Items
4.63B
Prev Year: 2.37B
YoY: +95.2%
Diluted EPS
-
Net Income
4.63B
Prev Year: 2.37B
YoY: +95.2%
Weighted Average Shares (basic)
-
Total Adjustments to Net Income
-3.34M
Prev Year: -3.34M
YoY: 0.0%
Weighted Average Shares (diluted)
-
Income Available to Com Excl ExtraOrd
4.62B
Prev Year: 2.37B
YoY: +95.3%
Total Operating Income as Reported
-
Income Available to Com Incl ExtraOrd
4.62B
Prev Year: 2.37B
YoY: +95.3%
Total Expenses
-
Diluted Net Income
4.62B
Prev Year: 2.37B
YoY: +95.3%
Net Income from Continuing and Discontinued Operation
-
Diluted Weighted Average Shares
326.37M
Prev Year: 326.10M
YoY: +0.1%
Normalized Income
-
Diluted EPS Excluding ExtraOrd Items
14.169
Prev Year: 7.26
YoY: +95.2%
Interest Expense
-
DPS - Common Stock Primary Issue
8.55
Prev Year: 8.051
YoY: +6.2%
Net Interest Income
-
Gain (Loss) on Sale of Assets
2.89B
Prev Year: -75.82M
YoY: +3908.4%
EBIT
-
Diluted Normalized EPS
5.38
Prev Year: 7.493
YoY: -28.2%
EBITDA
-
Minority Interest
-736.51M
Prev Year: -358.13M
YoY: -105.7%
Reconciled Cost of Revenue
-
Values in USD

Simon Property key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$6.4B$6.0B$5.7B$5.3B$5.1B
Gross profit$5.2B$4.9B$4.6B$4.3B$4.1B
Operating income$3.2B$3.1B$2.8B$2.6B$2.4B
Net income$4.6B$2.4B$2.3B$2.1B$2.2B
Diluted EPS––––$6.84
Total assets$40.6B$32.4B$34.3B$33.0B$33.8B
Total liabilities$35.4B$29.5B$31.3B$29.9B$29.4B
Shareholders' equity$5.2B$2.9B$3.0B$3.1B$3.4B
Cash––––$533.9M
Total debt$28.4B$24.3B$26.0B$25.0B$25.8B
Operating cash flow$4.1B$3.8B$3.9B$3.8B$3.6B
Capital spending––––$527.9M
Free cash flow––––$3.1B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2018.

Questions and answers

What was Simon Property's revenue in fiscal year 2025?

$6.36 billion, up 6.7% from $5.96 billion in fiscal year 2024.

How much profit does Simon Property make?

Simon Property reported net income of $4.63 billion for fiscal year 2025 (72.7% of revenue); operating income was $3.18 billion.

How much cash and debt does Simon Property have?

At the end of fiscal year 2025: total debt of $28.43 billion.

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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