Simon Property (SPG) stock
Real Estate · Retail REITs
Simon Property (SPG) is a Retail REITs company in the Real Estate sector, headquartered in Indianapolis, Indiana. As of October 23, 2026, SPG closed at $211.63, a market capitalization of $80.34 billion, the 159th largest company in the S&P 500. Over the last twelve months it generated $6.94 billion in revenue (+20% year over year) and $3.22 billion in free cash flow. The stock trades at 14.9x trailing earnings and 31.2x forward earnings.
- 1-year total return: +23.9% (dividends reinvested)
- 5-year return: +13.7% a year
- 52-week range: $172.19 – $238.50
- Gross margin 81.4%, operating margin 46.0%
- Dividend yield: 4.21%, 5 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 5th largest of 30 Real Estate stocks in the S&P 500
SPG price chart
1Y price change: +18.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| SPG | +3.7% | +18.2% | +23.9% | +32.6% | +13.7% | +6.1% | +13.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1993.
SPG key statistics
- Market cap
- $80.3B
- #159 in S&P 500
- P/E (TTM)
- 14.9x
- Forward P/E
- 31.2x
- EPS (TTM)
- $14.17
- Revenue (TTM)
- $6.9B
- +20%
- Free cash flow
- $3.2B
- Gross margin
- 81.4%
- Operating margin
- 46.0%
- Return on equity
- 120.5%
- Dividend yield
- 4.21%
- 52-week range
- $172.19 – $238.50
- Beta
- 1.33
- Price / sales
- 11.6x
- EV / EBITDA
- 19.2x
- Debt / equity
- 5.04x
- Employees
- 3,100
SPG report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth19.5%B
- Gross margin81.4%A
- Operating margin46.0%A
- FCF margin46.4%A
- Return on equity120.5%A
- Net debt / EBITDA5.5xF
- Forward P/E31.2xD
- PEG ratio4.6xF
- Shareholder yield4.5%B
- Share count change / yr1.1%D
Simon Property financials
Revenue went from $5.4B in fiscal 2016 to $6.4B in fiscal 2025, growing 1.8% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.4B | $5.5B | $5.6B | $5.8B | $4.6B | $5.1B | $5.3B | $5.7B | $6.0B | $6.4B |
| Operating income | $2.7B | $2.8B | $2.9B | $2.9B | $2.0B | $2.4B | $2.6B | $2.8B | $3.1B | $3.2B |
| Net income | $2.1B | $2.2B | $2.8B | $2.4B | $1.3B | $2.6B | $2.5B | $2.6B | $2.7B | $5.4B |
| EPS (diluted) | — | — | — | — | — | $6.84 | $6.52 | $6.98 | $7.26 | $14.17 |
| Free cash flow | $2.6B | $2.9B | $3.0B | $2.9B | $1.8B | $3.1B | $3.1B | $3.1B | $3.1B | $3.2B |
| Buybacks | $255.3M | $407.0M | $354.1M | $359.8M | $152.6M | — | $180.4M | $140.6M | — | $226.8M |
| Diluted shares | — | — | — | 308.0M | 308.7M | 328.6M | 327.8M | 326.8M | 326.1M | 326.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into SPG?
A reverse DCF asks what growth the current price requires. With an enterprise value of $108.8B and $3.2B of trailing free cash flow, Simon Property needs to grow free cash flow about 24.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 11.7% a year over the last five years.
P/E ratio history
Current 14.9x vs. median 38.7x (10th–90th percentile 16.8x–54.2x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
SPG dividend
- Dividend yield
- 4.21%
- Annual dividend
- $8.90
- Years of increases
- 5
- 5-yr dividend growth
- 17.0%
- per year
- Payout ratio
- 62%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
SPG earnings
Next report: November 5, 2026. Simon Property has beaten EPS estimates 1 quarters in a row. Last quarter's revenue was $1.8B (+19% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 10, 2026 | $1.57 | $1.73 | +10.1% |
| May 11, 2026 | $1.49 | $1.22 | -18.0% |
| Feb 2, 2026 | $1.97 | $1.04 | -47.1% |
| Nov 3, 2025 | $1.68 | $1.60 | -4.7% |
| Aug 4, 2025 | $1.61 | $1.36 | -15.5% |
| May 12, 2025 | $1.44 | $1.45 | +1.1% |
| Feb 4, 2025 | $1.85 | $1.79 | -3.1% |
| Nov 1, 2024 | $1.53 | $1.46 | -4.6% |
Stocks like SPG
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 O Realty Income | -0.30% | -0% | $53.8B | 41.2x | Compare |
 KIM Kimco Realty Corporation (HC) | +0.13% | +11% | $15.8B | 27.8x | Compare |
 REG Regency Centers | -0.54% | +6% | $13.8B | 24.9x | Compare |
 FRT Federal Realty Investment Trust | -0.15% | +13% | $9.5B | 22.0x | Compare |
 WELL Welltower | -0.03% | +37% | $171.0B | 106.4x | Compare |
 PLD Prologis | -0.17% | +4% | $122.9B | 28.1x | Compare |
 EQIX Equinix | +0.25% | +17% | $94.2B | 61.5x | Compare |
 AMT American Tower Corporation (REI | +4.08% | +3% | $88.1B | 26.0x | Compare |
SPG news
- Simon Property Group (SPG) Stock Still Looks Discounted After Its 124% Run · Oct 18, 2026
- How Dividend Raise At Simon Property Group Stock Has Changed Its Investment Story · Oct 17, 2026
- Is Simon Property Group (SPG) Still Cheap After Steady Q2 2026 Momentum And A Dividend Hike? · Oct 17, 2026
- Earnings Preview: What to Expect From Simon Property Group’s Report · Oct 16, 2026
- A $600,000 Dividend Portfolio Has a $52,900 Tax Problem. Here’s the Roth Solution · Oct 15, 2026
SPG stock FAQ
What is SPG's market cap?
Simon Property's market capitalization is $80.34 billion as of October 23, 2026, ranking 159th in the S&P 500.
What is SPG's P/E ratio?
SPG trades at a trailing price-to-earnings ratio of 14.9x and a forward P/E of 31.2x. Its median P/E over the period we track is 38.7x.
Does SPG pay a dividend?
Yes. Simon Property pays $8.90 per share a year, a 4.21% yield. It has raised its dividend 5 years in a row. Dividends grew 17.0% a year over the last five years.
How much has SPG stock returned?
Including reinvested dividends, SPG returned +23.9% over one year, +13.7% a year over five years, +6.1% a year over ten years through October 23, 2026.
Is SPG stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Simon Property must grow free cash flow about 24% a year for the next decade. Its free cash flow grew 12% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does SPG report earnings?
Simon Property is expected to report earnings on November 5, 2026. It has beaten EPS estimates 1 quarters in a row.
How many employees does Simon Property have?
Simon Property has about 3,100 full-time employees, or $2.2 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology