Simon Property Group, Inc.
Financial Performance
Simon Property Revenue & Financials
Revenue
$6.4B (FY2025)
Market Cap
$66B
Net Income
$5.4B
Employees
3,600
What is Simon Property's revenue?
Simon Property had $6.4B in revenue for fiscal year 2025, up 6.7% from 2024. Net income was $5.4B.
- Latest revenue
- $6.4B (FY2025)
- Year-over-year
- +6.7%
- Growth rate (CAGR)
- 1.8% over 9 years
- Peak revenue
- $6.4B (FY2025)
- Years of data
- 10
- Employees
- 3,600
- What is Simon Property's operating income?
- Simon Property reported operating income of $3.2B for fiscal year 2025. sec.gov
- How much profit does Simon Property make?
- Simon Property reported net income of $5.4B for fiscal year 2025. sec.gov
- How many employees does Simon Property have?
- Simon Property has about 3,600 employees.
Financial Analysis
Simon's revenue rose from $5.96 billion in 2024 to $6.365 billion in 2025. Net income attributable to common stockholders reached $4.624 billion in 2025, inflated by a $2.89 billion non-cash gain from remeasuring its previous Taubman Realty Group stake when it bought the remaining interest. The cleaner operating measure, Real Estate FFO, was a record $4.8 billion ($12.73 per share) in 2025, and Simon returned about $3.5 billion to shareholders that year. In Q2 2026 Real Estate FFO grew 7.9% to $1.249 billion, or $3.29 per share.
Revenue Trend Analysis
YoY Change
+6.7%
9-Year CAGR
+1.8%
Peak Year
2025
Trend
Consistent Growth
Simon Property Group, Inc. has 10 full fiscal year figures on this page, compounding at +1.8% annually over 9 years. The most recent year saw a 6.7% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $6.4B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
Click any row to see year details.
Simon Property Group, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. In some years total assets exceed liabilities plus shareholders' equity because the company reported redeemable preferred stock or non-controlling interests outside both.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $4.1B | $40.6B | $33.9B | $5.2B | Form 10-K |
| FY2024ended Dec 31, 2024 | $3.8B | $32.4B | $28.8B | $2.9B | Form 10-K |
| FY2023ended Dec 31, 2023 | $3.9B | $34.3B | $30.6B | $3B | Form 10-K |
| FY2022ended Dec 31, 2022 | $3.8B | $33B | $29.2B | $3.1B | Form 10-K |
| FY2021ended Dec 31, 2021 | $3.6B | $33.8B | $29.4B | $3.4B | Form 10-K |
| FY2020ended Dec 31, 2020 | $2.3B | $34.8B | $31.1B | $3B | Form 10-K |
| FY2019ended Dec 31, 2019 | $3.8B | $31.2B | $28.1B | $2.5B | Form 10-K |
| FY2018ended Dec 31, 2018 | $3.8B | $30.7B | $26.7B | $3.3B | Form 10-K |
| FY2017ended Dec 31, 2017 | $3.6B | $32.3B | $27.8B | $3.7B | Form 10-K |
| FY2016ended Dec 31, 2016 | $3.4B | $31.1B | $26B | $4.3B | Form 10-K |
Keep researching Simon Property
Simon Property Revenue and Financial FAQ
What was Simon Property Group's total revenue for FY2025?
Simon Property Group reported consolidated revenue of $6.365 billion for fiscal year 2025, up from $5.96 billion in FY2024, driven by higher minimum base rents, strong tenant recoveries, and full consolidation of Taubman Realty Group.
What was Simon's Real Estate Funds From Operations (FFO) in 2025?
Simon achieved record Real Estate FFO of $4.80 billion, or $12.73 per diluted share, in FY2025, compared to $4.71 billion ($12.51 per share) in FY2024, underscoring strong organic tenant leasing cash flow.
Why was net income attributable to common shareholders unusually high in 2025?
Net income reached $4.624 billion in FY2025 due to a non-cash accounting gain of approximately $2.89 billion recognized upon remeasuring Simon's existing equity stake when it purchased the remaining ownership in Taubman Realty Group.
What is Simon's portfolio occupancy rate?
Simon's domestic property portfolio maintained a robust occupancy rate of 96.0% to 96.2% across its regional malls and Premium Outlets throughout 2025 and 2026.
What is the average base minimum rent per square foot at Simon properties?
Average base minimum rent per square foot across US malls and Premium Outlets surpassed $58.00 to $60.00 in 2025-2026, reflecting continuous lease rent spreads on newly signed retailer renewals.
What was Simon Property Group's performance in Q2 2026?
In the second quarter of 2026, Real Estate FFO grew 7.9% year-over-year to $1.249 billion ($3.29 per share), driven by 96.0% occupancy, strong retailer sales productivity, and higher overage rents.
What is Simon's dividend track record and dividend yield?
Simon is renowned as a premier blue-chip REIT dividend payer. In 2026, the board raised the quarterly cash dividend to $2.25 per share ($9.00 annualized), yielding approximately 5.0% to 5.5% with annual dividend payouts exceeding $3.5 billion.
What is Simon Property Group's credit rating and debt structure?
Simon holds an upper-medium investment grade balance sheet rated A- by S&P and A3 by Moody's, characterized by low weighted-average interest rates (under 4.0%), long debt maturities, and more than $10 billion in total available liquidity.
How much capital does Simon spend annually on redevelopments?
Simon self-funds between $700 million and $1.0 billion annually in redevelopment capital expenditures, modernizing properties, repurposing department stores, and constructing residential towers without diluting equity.
What is Simon Property Group's market capitalization?
Simon Property Group trades under ticker SPG with an equity market capitalization of approximately $60 billion to $66 billion, making it the largest mall REIT in the world and an S&P 100 constituent.
What was the full-year 2026 FFO guidance provided by management?
In mid-2026, Simon raised its full-year 2026 Real Estate FFO guidance to a range of $13.20 to $13.30 per diluted share, up from $12.73 achieved in FY2025.
How does retailer sales volume per square foot impact Simon's financial valuation?
Tenant sales productivity across Simon's top Class-A malls regularly exceeds $1,000 to $1,200 per square foot, providing retailers with high sales-to-rent health ratios (cost of occupancy around 12-13%) that support sustainable rent increases.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Simon Property Revenue & Financials." CorpDigest, https://corpdigest.com/company/simon-property/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Simon Property reported $6.4B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/simon-property/financials" target="_blank" rel="noopener">CorpDigest — Simon Property financials</a></div>Related Financial Audits
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