Simon Property Group, Inc. (SPG) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 1.76B | 1.79B | 1.6B | 1.5B | 1.47B | 1.58B | 1.48B | 1.46B | 1.44B | 1.53B | 1.41B | 1.37B | 1.35B | 1.4B | 1.32B | 1.28B | 1.3B | 1.33B | 1.3B | 1.25B |
| Revenue Growth % | 19.29% | 13.22% | 8.16% | 2.76% | 2.11% | 3.59% | 4.94% | 6.47% | 6.79% | 9.11% | 7.23% | 7.01% | 4.24% | 5.56% | 1.48% | 2.05% | 4.51% | 17.21% | 22.24% | 18.09% |
| Property Operating Expenses | 346.92M | 154.53M | 265.21M | 214.99M | 274.42M | 271.77M | 258.13M | 227.93M | 261.05M | 255.54M | 274.66M | 230.1M | 245.08M | 266.42M | 252.43M | 244.45M | 237.66M | 269.89M | 247.38M | 229.8M |
| Net Operating Income (NOI) | 1.41B | 1.64B | 1.34B | 1.28B | 1.2B | 1.31B | 1.22B | 1.23B | 1.18B | 1.27B | 1.14B | 1.14B | 1.11B | 1.13B | 1.06B | 1.04B | 1.06B | 1.06B | 1.05B | 1.02B |
| NOI Margin % | 80.26% | 91.37% | 83.44% | 85.65% | 81.37% | 82.82% | 82.57% | 84.37% | 81.9% | 83.27% | 80.53% | 83.2% | 81.86% | 80.97% | 80.82% | 80.9% | 81.66% | 79.65% | 80.92% | 81.68% |
| Operating Expenses | 648.01M | 746.26M | 523.45M | 539.27M | 470.98M | 474.71M | 454.81M | 476.23M | 446.36M | 479.75M | 442.06M | 481.58M | 443.05M | 449.27M | 411.16M | 408.63M | 437.87M | 464.71M | 436.85M | 419.62M |
| G&A Expenses | 155.88M | 129.32M | 54.74M | 50.61M | 46.89M | 59.11M | 43.31M | 49.67M | 37.21M | 50.91M | 37.88M | 43.8M | 33.27M | 45.36M | 34.89M | 29.42M | 33.1M | 36.22M | 45.54M | 26.82M |
| EBITDA | 1.22B | 1.31B | 1.15B | 1.11B | 1.08B | 1.2B | 1.11B | 1.09B | 1.06B | 1.13B | 1.03B | 996.98M | 985.12M | 1.02B | 968.5M | 942.1M | 944.51M | 932.31M | 932.66M | 937.69M |
| EBITDA Margin % | 69.49% | 73.2% | 71.9% | 74.2% | 73.54% | 75.61% | 74.94% | 74.52% | 73.47% | 74.04% | 72.83% | 72.79% | 72.93% | 72.9% | 73.61% | 73.61% | 72.88% | 70.3% | 71.93% | 74.77% |
| Depreciation & Amortization | 458.9M | 420.68M | 338.64M | 367.64M | 355.65M | 360.6M | 341.9M | 332.6M | 324.76M | 338.78M | 333.36M | 339.06M | 322.39M | 336.35M | 316.3M | 315.34M | 324.12M | 340.78M | 320.33M | 332.96M |
| D&A / Revenue % | 26.12% | 23.48% | 21.14% | 24.53% | 24.14% | 22.79% | 23.09% | 22.81% | 22.51% | 22.18% | 23.63% | 24.76% | 23.87% | 24.03% | 24.04% | 24.64% | 25.01% | 25.7% | 24.71% | 26.55% |
| Operating Income | 762.16M | 890.67M | 812.91M | 744.2M | 727.62M | 835.75M | 767.77M | 754.1M | 735.18M | 792.14M | 694.23M | 657.92M | 662.72M | 684.21M | 652.2M | 626.76M | 620.39M | 591.53M | 612.32M | 604.72M |
| Operating Margin % | 43.38% | 49.72% | 50.76% | 49.66% | 49.4% | 52.82% | 51.85% | 51.71% | 50.96% | 51.86% | 49.2% | 48.04% | 49.06% | 48.88% | 49.57% | 48.97% | 47.87% | 44.61% | 47.23% | 48.22% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 2.54x | 13.97x | 2.90x | 3.92x | 3.07x | 4.25x | 3.43x | 3.60x | 4.85x | 5.01x | 4.41x | 3.60x | 3.54x | 5.11x | 4.35x | 4.17x | 3.63x | 4.22x | 5.23x | 4.76x |
| Non-Operating Income | 62.1M | -2.91B | 107.75M | -167.31M | 30.4M | -131.52M | -7.93M | -41.63M | -384.2M | -333.9M | -241.96M | -128.15M | -42.51M | -341.79M | -165.78M | -154.38M | -51.64M | -224.53M | -433.36M | -348.57M |
| Pretax Income | 458.87M | 3.53B | 705.17M | 678.79M | 470.22M | 739.85M | 549.28M | 574.4M | 888.76M | 901.12M | 723.98M | 567.99M | 505.8M | 825.09M | 630.1M | 593.83M | 486.88M | 622.56M | 845.91M | 752.87M |
| Pretax Margin % | 26.12% | 197.22% | 44.03% | 45.3% | 31.92% | 46.76% | 37.1% | 39.39% | 61.61% | 59% | 51.31% | 41.47% | 37.44% | 58.94% | 47.89% | 46.4% | 37.57% | 46.95% | 65.24% | 60.03% |
| Income Tax | -19.93M | -6.8M | 15.11M | 35.11M | -7.64M | -31.91M | 2.6M | 4.96M | 47.6M | 41.62M | 43.22M | 10.49M | -13.45M | 52.34M | 8.26M | 24.35M | -1.44M | 48.83M | 67.26M | 47M |
| Effective Tax Rate % | -4.34% | -0.19% | 2.14% | 5.17% | -1.62% | -4.31% | 0.47% | 0.86% | 5.36% | 4.62% | 5.97% | 1.85% | -2.66% | 6.34% | 1.31% | 4.1% | -0.29% | 7.84% | 7.95% | 6.24% |
| Net Income | 480.4M | 3.05B | 594.37M | 556.97M | 414.53M | 668.07M | 476M | 494.3M | 732.54M | 748.31M | 594.97M | 487.18M | 452.66M | 674.62M | 539.87M | 497.58M | 427.46M | 504.07M | 680.77M | 618.09M |
| Net Margin % | 27.34% | 170.2% | 37.11% | 37.17% | 28.14% | 42.22% | 32.15% | 33.9% | 50.78% | 48.99% | 42.17% | 35.57% | 33.51% | 48.19% | 41.03% | 38.88% | 32.99% | 38.01% | 52.51% | 49.28% |
| Net Income Growth % | 15.89% | 356.41% | 24.87% | 12.68% | -43.41% | -10.72% | -20% | 1.46% | 61.83% | 10.92% | 10.21% | -2.09% | 5.89% | 33.83% | -20.7% | -19.5% | -4.3% | 85.11% | 363.87% | 142.34% |
| Funds From Operations (FFO) | 939.3M | 3.47B | 933.01M | 924.61M | 770.18M | 1.03B | 817.9M | 826.89M | 1.06B | 1.09B | 928.33M | 826.23M | 775.05M | 1.01B | 856.18M | 812.92M | 751.59M | 844.85M | 1B | 951.05M |
| FFO Margin % | 53.46% | 193.68% | 58.26% | 61.7% | 52.29% | 65.01% | 55.24% | 56.7% | 73.29% | 71.17% | 65.79% | 60.33% | 57.38% | 72.22% | 65.07% | 63.52% | 58% | 63.71% | 77.21% | 75.83% |
| FFO Growth % | 21.96% | 237.31% | 14.07% | 11.82% | -27.16% | -5.37% | -11.9% | 0.08% | 36.42% | 7.53% | 8.43% | 1.64% | 3.12% | 19.66% | -14.48% | -14.52% | -3.46% | 38.55% | 105.73% | 60.53% |
| FFO per Share | 2.90 | 10.64 | 2.85 | 2.83 | 2.36 | 3.15 | 2.51 | 2.54 | 3.24 | 3.34 | 2.84 | 2.53 | 2.37 | 3.09 | 2.62 | 2.48 | 2.29 | 2.57 | 3.05 | 2.89 |
| FFO Payout Ratio % | 76.2% | 20.68% | 11.71% | 11.53% | 13.88% | 180.16% | 251.78% | 11.83% | 9.02% | 57.04% | 67.06% | 60.88% | 87.17% | 8.43% | 177.2% | 68.77% | 72.25% | 9.24% | 13.7% | 44.95% |
| EPS (Diluted) | 1.20 | 9.35 | 1.82 | 1.70 | 1.27 | 2.04 | 1.46 | 1.51 | 2.25 | 2.30 | 1.85 | 1.48 | 1.38 | 2.04 | 1.65 | 1.51 | 1.30 | 1.53 | 2.07 | 1.88 |
| EPS Growth % | -5.51% | 358.33% | 24.66% | 12.58% | -43.56% | -11.2% | -21.08% | 2.03% | 63.04% | 12.62% | 12.12% | -1.99% | 6.15% | 33.33% | -20.29% | -19.68% | -4.41% | 77.91% | 331.25% | 126.51% |
| EPS (Basic) | 1.48 | 9.35 | 1.82 | 1.70 | 1.27 | 2.04 | 1.46 | 1.51 | 2.25 | 2.30 | 1.85 | 1.48 | 1.38 | 2.04 | 1.65 | 1.51 | 1.30 | 1.53 | 2.07 | 1.88 |
| Diluted Shares Outstanding | 324.03M | 326.02M | 327.14M | 327.14M | 326.31M | 326.28M | 326.16M | 326.04M | 325.91M | 325.93M | 327.16M | 327.19M | 326.95M | 326.95M | 327.29M | 328.44M | 328.61M | 328.62M | 328.62M | 328.59M |