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Simon Property Group Inc. (SPG.PJ) stock analysis

SPG.PJNYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as SPG
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026Score 8/302% above fair value
$53.11+0.37 (+0.70%)

Close on Oct 30, 2026Market cap $70.46BP/E 15.4Yield 3.93%

StockData Score

Prices as of Oct 30, 2026How the score works

Value2Growth3Performance1Health0Dividend2

Weak8 of 30 checks passed

Simon Property passes 8 of the 30 checks behind our score; 13 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
2/6
Growth
3/6
Past performance
1/6
Financial health
0/6
Dividend
2/6

What stands out

  • Return on capital over 10%

    Return on invested capital was 112%, above the 10% that usually covers the cost of capital.

  • EPS growing 10%+ a year

    Diluted EPS grew 29.5% a year over the last three fiscal years.

  • P/E below its 5-year median

    Simon Property's P/E of 15.4 is below its own 5-year median of 19.7.

  • P/E below the industry

    Simon Property's P/E of 15.4 is below the Miscellaneous Investing median of 25.0.

What to watch

  • Margin of safety under 20%

    The price is 1.7% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $217.75 is above our fair value estimate of $214.01.

  • Revenue growing under 10% a year

    Revenue grew 6.3% a year over the last three fiscal years, short of the 10% we look for.

  • Interest not well covered

    Operating income covers interest expense 3.1 times; we look for at least 5.

Valuation2/6

  • P/E below its 5-year median

    Simon Property's P/E of 15.4 is below its own 5-year median of 19.7.

  • P/E below the industry

    Simon Property's P/E of 15.4 is below the Miscellaneous Investing median of 25.0.

  • EV/EBITDA above its 5-year median

    Simon Property's EV/EBITDA of 14.2 is above its 5-year median of 11.8.

  • P/B above the industry

    Simon Property's price-to-book of 15.89 is above the Miscellaneous Investing median of 1.20.

  • Trading above fair value

    The share price of $217.75 is above our fair value estimate of $214.01.

  • Margin of safety under 20%

    The price is 1.7% above fair value, so there is no margin of safety.

Growth3/6

  • Revenue growing under 10% a year

    Revenue grew 6.3% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growing 10%+ a year

    Diluted EPS grew 29.5% a year over the last three fiscal years.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 15.0% over the last twelve months; the Miscellaneous Investing median is 4.4%.

  • Guidance raised

    Simon Property raised its full year 2026 Real Estate FFO per diluted share outlook on Aug 10, 2026.

  • Gross margin trend

    This company does not report gross profit.

Past performance1/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on capital over 10%

    Return on invested capital was 112%, above the 10% that usually covers the cost of capital.

  • Return on equity against the industry

    Needs positive equity.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin against its history

    Needs five years of revenue and net income.

  • Net margin against the industry

    Needs revenue and net income.

Financial health0/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest not well covered

    Operating income covers interest expense 3.1 times; we look for at least 5.

  • Short-term liquidity

    The balance sheet is not split into current and non-current items.

  • Elevated bankruptcy risk

    The Altman Z-score is 1.52; above 3 is the safe zone and below 1.8 the distress zone.

Dividend2/6

  • Pays a dividend

    Simon Property paid dividends worth 4.1% of the share price over the last twelve months.

  • Yield below Treasuries

    The 4.1% yield is below the 4.4% on a 1-year Treasury.

  • Yield in the top quarter

    The top quarter of US dividend payers yield 4.0% or more; Simon Property yields 4.1%.

  • Dividend was cut

    The dividend per share fell by more than 10% at least once in the last 10 fiscal years.

  • Earnings cover

    Needs dividends paid and net income.

  • Cash-flow cover

    Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$214.01

The share price is 2% above this estimate.

20%+ below
Near fair value
20%+ above
$217.75Price
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E22.3×19.7×25.0×$316.8540%
EV/EBITDA11.2×11.8×10.5×$174.4035%
P/B8.2×15.2×1.2×$112.5110%
Earnings power9.7% cost of equity––$99.8415%
Fair value$214.01100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 19.7
  • Miscellaneous Investing median 25.0

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$247.05M
Value traded per 1% price move
$317.51M

Downside

Low risk

Typical loss in a bad month
9.3%
Volatility (annualized)
19%
Sharpe ratio, 1 year
1.10
Beta to the S&P 500 (5Y)
0.94

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Operating margin

49.9%+7.1 pts over 5 years