(SPG) Simon Property - Ratings and Ratios
Malls, Premium Outlets, The Mills, Mixed-Use, International
SPG EPS (Earnings per Share)
SPG Revenue
| Risk via 10d forecast | |
|---|---|
| Volatility | 22.1% |
| Value at Risk 5%th | 34.3% |
| Relative Tail Risk | -5.61% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.23 |
| Alpha | -5.22 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.316 |
| Beta | 0.890 |
| Beta Downside | 1.079 |
| Drawdowns 3y | |
|---|---|
| Max DD | 24.32% |
| Mean DD | 6.51% |
| Median DD | 4.71% |
Description: SPG Simon Property September 26, 2025
Simon Property Group, Inc. (NYSE: SPG) operates as a self-administered REIT, with its majority-owned partnership subsidiary, Simon Property Group, L.P., holding all underlying real-estate assets. The corporate structure consolidates the operating partnership, its subsidiaries, and the broader corporate entity under the “Company” designation.
As of 31 December 2024, SPG owned or held interests in 229 properties spanning ≈ 183 million sq ft across North America, Asia, and Europe. Its portfolio mix includes traditional malls, Premium Outlets, The Mills mixed-use centers, and a suite of international assets. The firm also controls an 88 % stake in The Taubman Realty Group (TRG), which operates 22 regional, super-regional, and outlet malls, and maintains a 22.4 % equity interest in Klepierre, a Paris-based shopping-center operator active in 14 European markets.
Key performance indicators from the most recent fiscal year (2023) show a funds-from-operations (FFO) of roughly $5.5 billion, an occupancy rate of ≈ 93 %, and a dividend yield near 5.5 %. The leverage ratio (net debt to EBITDA) stood at ≈ 5.7 ×, indicating moderate financing risk relative to peers.
Sector-level drivers that materially affect SPG’s outlook include: (1) consumer discretionary spending trends, which are sensitive to inflation and employment dynamics; (2) the competitive pressure from e-commerce, prompting SPG to emphasize experiential tenants and mixed-use concepts; and (3) the prevailing interest-rate environment, as higher rates increase REIT borrowing costs and can compress valuation multiples.
For a deeper quantitative breakdown, the ValueRay platform offers a granular view of SPG’s valuation metrics and scenario analysis.
SPG Stock Overview
| Market Cap in USD | 69,002m |
| Sub-Industry | Retail REITs |
| IPO / Inception | 1993-12-13 |
| Return 12m vs S&P 500 | -6.13% |
| Analyst Rating | 3.84 of 5 |
SPG Dividends
| Dividend Yield | 4.62% |
| Yield on Cost 5y | 14.01% |
| Yield CAGR 5y | 7.79% |
| Payout Consistency | 94.8% |
| Payout Ratio | 136.3% |
SPG Growth Ratios
| CAGR 3y | 22.50% |
| CAGR/Max DD Calmar Ratio | 0.93 |
| CAGR/Mean DD Pain Ratio | 3.46 |
| Current Volume | 792.1k |
| Average Volume | 1229.5k |
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income (2.23b TTM) > 0 and > 6% of Revenue (6% = 369.3m TTM) |
| FCFTA 0.11 (>2.0%) and ΔFCFTA 2.14pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 38.50% (prev -2.00%; Δ 40.49pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.12 (>3.0%) and CFO 4.02b > Net Income 2.23b (YES >=105%, WARN >=100%) |
| Net Debt (24.24b) to EBITDA (4.81b) ratio: 5.04 <= 3.0 (WARN <= 3.5) |
| Current Ratio 994.2 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (327.1m) change vs 12m ago 0.30% (target <= -2.0% for YES) |
| Gross Margin 83.33% (prev 83.03%; Δ 0.29pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 18.41% (prev 17.76%; Δ 0.65pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 1.83 (EBITDA TTM 4.81b / Interest Expense TTM 1.85b) >= 6 (WARN >= 3) |
Altman Z'' 0.22
| (A) 0.07 = (Total Current Assets 2.37b - Total Current Liabilities 2.39m) / Total Assets 33.60b |
| (B) -0.21 = Retained Earnings (Balance) -6.93b / Total Assets 33.60b |
| (C) 0.10 = EBIT TTM 3.39b / Avg Total Assets 33.44b |
| (D) -0.24 = Book Value of Equity -7.22b / Total Liabilities 30.63b |
| Total Rating: 0.22 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 67.81
| 1. Piotroski 3.50pt = -1.50 |
| 2. FCF Yield 4.08% = 2.04 |
| 3. FCF Margin 61.74% = 7.50 |
| 4. Debt/Equity 10.98 = -2.50 |
| 5. Debt/Ebitda 5.04 = -2.50 |
| 6. ROIC - WACC (= 4.13)% = 5.16 |
| 7. RoE 86.35% = 2.50 |
| 8. Rev. Trend 80.92% = 6.07 |
| 9. EPS Trend 20.95% = 1.05 |
What is the price of SPG shares?
Over the past week, the price has changed by -0.47%, over one month by +3.92%, over three months by +7.39% and over the past year by +7.60%.
Is Simon Property a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of SPG is around 197.18 USD . This means that SPG is currently overvalued and has a potential downside of 7.91%.
Is SPG a buy, sell or hold?
- Strong Buy: 7
- Buy: 2
- Hold: 10
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the SPG price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 189.2 | 3.5% |
| Analysts Target Price | 189.2 | 3.5% |
| ValueRay Target Price | 218.8 | 19.7% |
SPG Fundamental Data Overview November 11, 2025
P/E Trailing = 26.5901
P/E Forward = 29.4118
P/S = 11.2102
P/B = 25.9583
P/EG = 8.7406
Beta = 1.399
Revenue TTM = 6.16b USD
EBIT TTM = 3.39b USD
EBITDA TTM = 4.81b USD
Long Term Debt = 24.21b USD (from longTermDebt, last fiscal year)
Short Term Debt = 2.72b USD (from shortTermDebt, last fiscal year)
Debt = 25.79b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 24.24b USD (from netDebt column, last quarter)
Enterprise Value = 93.24b USD (69.00b + Debt 25.79b - CCE 1.55b)
Interest Coverage Ratio = 1.83 (Ebit TTM 3.39b / Interest Expense TTM 1.85b)
FCF Yield = 4.08% (FCF TTM 3.80b / Enterprise Value 93.24b)
FCF Margin = 61.74% (FCF TTM 3.80b / Revenue TTM 6.16b)
Net Margin = 36.29% (Net Income TTM 2.23b / Revenue TTM 6.16b)
Gross Margin = 83.33% ((Revenue TTM 6.16b - Cost of Revenue TTM 1.03b) / Revenue TTM)
Gross Margin QoQ = 83.44% (prev 85.65%)
Tobins Q-Ratio = 2.77 (Enterprise Value 93.24b / Total Assets 33.60b)
Interest Expense / Debt = 4.51% (Interest Expense 1.16b / Debt 25.79b)
Taxrate = 2.14% (15.1m / 705.2m)
NOPAT = 3.32b (EBIT 3.39b * (1 - 2.14%))
Current Ratio = 994.2 (out of range, set to none) (Total Current Assets 2.37b / Total Current Liabilities 2.39m)
Debt / Equity = 10.98 (Debt 25.79b / totalStockholderEquity, last quarter 2.35b)
Debt / EBITDA = 5.04 (Net Debt 24.24b / EBITDA 4.81b)
Debt / FCF = 6.38 (Net Debt 24.24b / FCF TTM 3.80b)
Total Stockholder Equity = 2.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.65% (Net Income 2.23b / Total Assets 33.60b)
RoE = 86.35% (Net Income TTM 2.23b / Total Stockholder Equity 2.59b)
RoCE = 12.65% (EBIT 3.39b / Capital Employed (Equity 2.59b + L.T.Debt 24.21b))
RoIC = 12.10% (NOPAT 3.32b / Invested Capital 27.41b)
WACC = 7.97% (E(69.00b)/V(94.79b) * Re(9.30%) + D(25.79b)/V(94.79b) * Rd(4.51%) * (1-Tc(0.02)))
Discount Rate = 9.30% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.18%
[DCF Debug] Terminal Value 73.97% ; FCFE base≈3.50b ; Y1≈3.53b ; Y5≈3.81b
Fair Price DCF = 165.4 (DCF Value 54.00b / Shares Outstanding 326.5m; 5y FCF grow 0.45% → 3.0% )
EPS Correlation: 20.95 | EPS CAGR: 3.39% | SUE: -0.35 | # QB: 0
Revenue Correlation: 80.92 | Revenue CAGR: 5.02% | SUE: 0.99 | # QB: 1
Additional Sources for SPG Stock
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Fund Manager Positions: Dataroma | Stockcircle