financial statements

The full income statement, balance sheet, and cash-flow statement for Simon Property Group Inc. (SPG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	6.36B YoY+6.7%	5.96B YoY+5.4%	5.66B YoY+6.9%	5.29B YoY+3.4%	5.12B YoY+11.1%
Selling, general & administrative	60.9M YoY+36.1%	44.7M YoY+16.2%	38.5M YoY+10.1%	35.0M YoY+15.3%	30.3M YoY+34.4%
General & administrative	60.9M YoY+36.1%	44.7M YoY+16.2%	38.5M YoY+10.1%	35.0M YoY+15.3%	30.3M YoY+34.4%
Operating income	3.18B YoY+2.7%	3.09B YoY+10.2%	2.81B YoY+8.6%	2.58B YoY+7.1%	2.41B YoY+22.4%
Interest expense	975M YoY+7.6%	906M YoY+6.0%	855M YoY+12.3%	761M YoY-4.3%	796M YoY+1.4%
Equity-method income	504M YoY+143.1%	207M YoY-44.8%	376M YoY-42.0%	648M YoY-17.2%	783M YoY+256.0%
Income tax	20.3M YoY+117.9%	9.31M YoY-86.5%	68.8M	—	—
	5.36B YoY+96.6%	2.73B YoY+4.3%	2.62B YoY+6.7%	2.45B YoY-4.5%	2.57B YoY+101.1%
Net income to non-controlling interest	737M YoY+105.7%	358M YoY+7.3%	334M YoY+6.7%	313M YoY-2.0%	319M YoY+93.7%
Preferred dividends	3.34M YoY+0.0%	3.34M YoY+0.0%	3.34M YoY+0.0%	3.34M YoY+0.0%	3.34M YoY+0.0%
Net income to common	4.62B YoY+95.3%	2.37B YoY+3.8%	2.28B YoY+6.7%	2.14B YoY-4.9%	2.25B YoY+102.5%
	$14.17 YoY+95.2%	$7.26 YoY+4.0%	$6.98 YoY+7.1%	$6.52 YoY-4.7%	$6.84
EPS (basic)	$14.17 YoY+95.2%	$7.26 YoY+4.0%	$6.98 YoY+7.1%	$6.52 YoY-4.7%	$6.84 YoY+90.5%
Weighted-avg shares (basic)	326M YoY+0.1%	326M YoY-0.2%	327M YoY-0.3%	328M YoY-0.2%	329M YoY+6.4%
Weighted-avg shares (diluted)	326M YoY+0.1%	326M YoY-0.2%	327M YoY-0.3%	328M YoY-0.2%	329M YoY+6.4%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	823M YoY-41.2%	1.40B YoY+19.8%	1.17B YoY+88.1%	622M YoY+16.4%	534M YoY-47.2%
Short-term investments	300M YoY+0.0%	300M YoY-70.0%	1.00B	—	—
	40.6B YoY+25.3%	32.4B YoY-5.5%	34.3B YoY+3.9%	33.0B YoY-2.3%	33.8B YoY-2.9%
Operating lease right-of-use	756M YoY+45.5%	520M YoY+7.3%	484M YoY-2.6%	497M YoY-1.4%	504M YoY-1.7%
Goodwill	20.1M YoY+0.0%	20.1M YoY+0.0%	20.1M YoY+0.0%	20.1M YoY+0.0%	20.1M YoY+0.0%
Deferred tax assets	0.00	0.00	0.00	0.00	0.00
	33.9B YoY+17.7%	28.8B YoY-5.8%	30.6B YoY+4.8%	29.2B YoY-0.6%	29.4B YoY-5.6%
Long-term debt	28.4B YoY+17.2%	24.3B YoY-6.8%	26.0B YoY+4.3%	25.0B YoY-1.4%	25.3B YoY-5.2%
Deferred tax liabilities	278M YoY+0.0%	278M YoY+0.0%	278M YoY+0.0%	278M YoY+0.0%	278M YoY+0.0%
	5.21B YoY+77.0%	2.94B YoY-2.7%	3.02B YoY-3.7%	3.14B YoY-6.6%	3.36B YoY+10.6%
Preferred stock	40.5M YoY-0.8%	40.8M YoY-0.8%	41.1M YoY-0.8%	41.4M YoY-0.8%	41.8M YoY-0.8%
Common stock	30.0K YoY+0.0%	30.0K YoY+0.0%	30.0K YoY+0.0%	30.0K YoY+0.0%	30.0K YoY+0.0%
Additional paid-in capital	12.3B YoY+6.6%	11.6B YoY+1.6%	11.4B YoY+1.5%	11.2B YoY+0.2%	11.2B YoY+0.3%
Retained earnings	-4.61B YoY+27.8%	-6.38B YoY-4.7%	-6.10B YoY-2.8%	-5.93B YoY-1.8%	-5.82B YoY+4.6%
Treasury stock	2.32B YoY+10.1%	2.11B YoY-2.3%	2.16B YoY+5.5%	2.04B YoY+8.5%	1.88B YoY-0.4%
Accumulated other comprehensive income	-251M YoY-30.2%	-193M YoY-11.7%	-173M YoY-4.8%	-165M YoY+11.0%	-185M YoY+1.8%
Non-controlling interest	1.26B YoY+167.3%	473M YoY+0.8%	469M YoY-0.9%	473M YoY-3.7%	492M YoY+13.6%
Total equity incl. non-controlling	6.47B YoY+89.5%	3.41B YoY-2.2%	3.49B YoY-3.3%	3.61B YoY-6.3%	3.85B YoY+11.0%
Total liabilities & equity	40.6B YoY+25.3%	32.4B YoY-5.5%	34.3B YoY+3.9%	33.0B YoY-2.3%	33.8B YoY-2.9%
Common shares issued	8.00K YoY+0.0%	8.00K YoY+0.0%	8.00K YoY+0.0%	8.00K YoY+0.0%	8.00K YoY+0.0%
Common shares outstanding	8.00K YoY+0.0%	8.00K YoY+0.0%	8.00K YoY+0.0%	8.00K YoY+0.0%	8.00K YoY+0.0%
Shares outstanding (cover)	0.00	0.00	0.00	0.00	0.00
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.14B YoY+8.4%	3.81B YoY-3.0%	3.93B YoY+4.4%	3.77B YoY+3.6%	3.64B YoY+56.3%
Depreciation & amortization	1.43B YoY+12.7%	1.27B YoY+0.3%	1.26B YoY+2.8%	1.23B YoY-2.8%	1.26B YoY-4.2%
	-1.60B YoY-213.7%	1.41B YoY+203.3%	-1.36B YoY-117.6%	-627M YoY-13.4%	-553M YoY+86.1%
Capital expenditure	934M YoY+23.7%	756M YoY-4.8%	793M YoY+22.0%	650M YoY+23.1%	528M YoY+9.1%
Purchases of investments	48.7M YoY-79.8%	241M YoY+659.8%	31.7M YoY-52.0%	66.1M YoY+96.8%	33.6M YoY+2.0%
Sales/maturities of investments	96.2M YoY-91.9%	1.18B YoY+289.2%	304M YoY+1065.9%	26.1M YoY-60.2%	65.5M YoY+118.3%
	-3.11B YoY+37.6%	-4.99B YoY-147.1%	-2.02B YoY+33.8%	-3.05B YoY+14.3%	-3.56B YoY-278.7%
Long-term debt repaid	3.28B YoY+10.4%	2.97B YoY+11.7%	2.66B YoY-28.6%	3.72B YoY-63.1%	10.1B YoY-22.2%
Common stock repurchased	227M	—	141M YoY-22.1%	180M	—
Interest paid	946M YoY+3.8%	911M YoY+6.5%	856M YoY+12.2%	763M YoY-7.2%	822M YoY+9.0%
Income taxes paid	29.1M YoY-75.6%	119M YoY+282.0%	31.2M YoY-41.4%	53.2M YoY-48.0%	102M YoY+411.1%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	0.00	0.00	0.00	0.00	0.00
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: SPG's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SPG filings on SEC EDGAR → Not investment advice.

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About this data

financial statements