SPG Stock Analysis: Simon Property | NYSE
REIT - Retail | NYSE, USA | Market Cap: 77.212m USD | 12M Return: 20.7% | US8288061091 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 253M
EPS Trend: 52.2%
Qual. Beats: 0
Rev. Trend: 95.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Simon Property Group (SPG) is a self-administered, self-managed retail REIT headquartered in Indianapolis, Indiana, and incorporated in 1960. The company owns, develops, and manages premier shopping, dining, entertainment, and mixed-use destinations-including malls, Premium Outlets, The Mills, and International Properties-across North America, Asia, and Europe.
As of December 31, 2024, SPG held interests in 229 properties totaling 183 million square feet, an 88% stake in Taubman Realty Group (which owns 22 regional, super-regional, and outlet malls in the U.S. and Asia), and a 22.4% interest in Klepierre, a Paris-based retail real estate company with shopping centers in 14 European countries.
As an equity REIT, SPG is generally required to distribute the majority of its taxable income to shareholders in the form of dividends, with revenue primarily generated through rental income from retail tenants. SPG is classified as a Large Cap stock with a market capitalization of approximately $76 billion USD and has been listed on the NYSE since its 1993 IPO.
- Premium outlets and experiential retail drive same-store NOI growth
- Interest rate cuts lower borrowing costs and boost REIT valuations
- Discretionary retail weakness pressures mall occupancy and rents
| Net Income: 4.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -1.34 > 1.0 |
| NWC/Revenue: 1.37% < 20% (prev -22.71%; Δ 24.08% < -1%) |
| CFO/TA 0.10 > 3% & CFO 4.12b > Net Income 4.61b |
| Net Debt (29.1b) to EBITDA (7.90b): 3.69 < 3 |
| Current Ratio: 1.05 > 1.5 & < 3 |
| Outstanding Shares: last quarter (324.0m) vs 12m ago -0.95% < -2% |
| Gross Margin: 84.58% > 18% (prev 83.11%; Δ 1.48% > 0.5%) |
| Asset Turnover: 19.01% > 50% (prev 18.12%; Δ 0.89% > 0%) |
| Interest Coverage Ratio: 5.67 > 6 (EBIT TTM 6.08b / Interest Expense TTM 1.07b) |
| A: 0.00 (Total Current Assets 1.90b - Total Current Liabilities 1.81b) / Total Assets 39.7b |
| B: -0.13 (Retained Earnings -5.13b / Total Assets 39.7b) |
| C: 0.17 (EBIT TTM 6.08b / Avg Total Assets 36.5b) |
| D: 0.13 (Book Value of Equity 4.43b / Total Liabilities 34.1b) |
| Altman-Z'' = 0.85 = B |
| DSRI: 0.99 (Receivables 884.2m/777.5m, Revenue 6.94b/6.03b) |
| GMI: 0.98 (GM 83.11% / 84.58%) |
| AQI: 0.20 (AQ_t 0.19 / AQ_t-1 0.92) |
| SGI: 1.15 (Revenue 6.94b / 6.03b) |
| TATA: 0.01 (NI 4.61b - CFO 4.12b) / TA 39.7b) |
| Beneish M = -3.42 (Cap -4..+1) = AA |
As of October 18, 2026, the stock is trading at USD 205.44 with a total of 1,657,866 shares traded. Over the past week, the price has changed by +3.02%, over one month by +0.47%, over three months by -9.21% and over the past year by +20.70%.
Current recommended Stop Loss: 196.70 (which is 4.3% or 2.7 ATR below the current price).
Simon Property has received a consensus analysts rating of 3.60. Therefore, it is recommended to hold SPG.
- StrongBuy: 5
- Buy: 2
- Hold: 13
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 229 | 11.5% |
P/E Trailing = 14.1637
P/E Forward = 30.6748
P/S = 11.1244
P/B = 15.0332
P/EG = 8.7406
Revenue TTM = 6.94b USD
EBIT TTM = 6.08b USD
EBITDA TTM = 7.90b USD
Long Term Debt = 28.7b USD (from longTermDebt, last quarter)
Short Term Debt = 7.31b USD (from shortTermDebt, last fiscal year)
Debt = 30.2b USD (from shortLongTermDebtTotal, last quarter) + Leases 727.9m
Net Debt = 29.1b USD (calculated: Debt 30.2b - CCE 1.02b)
Enterprise Value = 106b USD (77.2b + Debt 30.2b - CCE 1.02b)
Interest Coverage Ratio = 5.67 (Ebit TTM 6.08b / Interest Expense TTM 1.07b)
EV/FCF = 33.05x (Enterprise Value 106b / FCF TTM 3.22b)
FCF Yield = 3.03% (FCF TTM 3.22b / Enterprise Value 106b)
FCF Margin = 46.36% (FCF TTM 3.22b / Revenue TTM 6.94b)
Net Margin = 66.39% (Net Income TTM 4.61b / Revenue TTM 6.94b)
Gross Margin = 84.58% ((Revenue TTM 6.94b - Cost of Revenue TTM 1.07b) / Revenue TTM)
Gross Margin QoQ = 83.06% (prev 80.26%)
Tobins Q-Ratio = 2.68 (Enterprise Value 106b / Total Assets 39.7b)
Interest Expense / Debt = 3.55% (Interest Expense 1.07b / Debt 30.2b)
Taxrate = 1.85% (10.8m / 584.9m)
NOPAT = 5.96b (EBIT 6.08b * (1 - 1.85%))
Current Ratio = 1.05 (Total Current Assets 1.90b / Total Current Liabilities 1.81b)
Debt / Equity = 6.80 (Debt 30.2b / totalStockholderEquity, last quarter 4.43b)
Debt / EBITDA = 3.69 (Net Debt 29.1b / EBITDA 7.90b)
Debt / FCF = 9.06 (Net Debt 29.1b / FCF TTM 3.22b)
Total Stockholder Equity = 4.21b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.62% (Net Income 4.61b / Total Assets 39.7b)
RoE = 109.4% (Net Income TTM 4.61b / Total Stockholder Equity 4.21b)
RoCE = 18.46% (EBIT 6.08b / Capital Employed (Equity 4.21b + L.T.Debt 28.7b))
RoIC = 13.30% (NOPAT 5.96b / Invested Capital 44.9b)
WACC = 5.78% (E(77.2b)/V(107b) * Re(6.68%) + D(30.2b)/V(107b) * Rd(3.55%) * (1-Tc(0.02)))
Discount Rate = 6.68% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -48.22 | Cagr: -0.26%
[DCF] Terminal Value 75.75% ; FCFF base≈3.19b ; Y1≈3.26b ; Y5≈3.60b
[DCF] Fair Price = 82.13 (EV 55.7b - Net Debt 29.1b = Equity 26.6b / Shares 323.6m; r=8.35% [WACC [floored]]; 5y FCF grow 2.39% → 2.50% )
EPS Correlation: 52.20 | EPS CAGR: 5.99% | SUE: 0.35 | # QB: 0
Revenue Correlation: 95.40 | Revenue CAGR: 7.23% | SUE: 0.81 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.62 | Chg30d=-0.21% | Revisions=-25% | Analysts=3
EPS current Year (2026-12-31): EPS=5.85 | Chg30d=+0.00% | Revisions=-40% | GrowthEPS=-1.0% | GrowthRev=+14.2%
EPS next Year (2027-12-31): EPS=6.77 | Chg30d=-0.34% | Revisions=-17% | GrowthEPS=+15.8% | GrowthRev=+3.6%
[Analyst] Revisions Ratio: -44% (up=1, down=5)