Aureus
BGood

Simon Property Group, Inc.(SPG)

B

Financial data as of Dec 31, 2025Stable · Real Estate

FCF Margin50.3%Free Cash Flow / Revenue
Cash Conversion89.4%Operating CF / Net Income
Free Cash Flow$3.2B
Revenue$6.4B
Net Cash-$28.4BNet debt position
Debt / FCF9.1xElevated debt burden
Current Ratio0.57Tight short-term liquidity
YoY FCF Growth+9.4%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-1High debt-to-FCF ratio (9.1x)
→
+0.5Healthy FCF margin with manageable debt (50.3%, 9.1x)
→
-1Current ratio below 1.0 (0.57)
→
+0.5Highly consistent quarterly FCF
→
FinalB

Analysis Summary

Strengths

  • Exceptional FCF margin (50.3%)
  • Highly consistent quarterly FCF

Concerns

  • Heavy debt position ($28.4B net debt, 9.1x FCF)
  • High debt-to-FCF ratio (9.1x)
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin50.3%
Net Margin72.7%
Operating CF Margin65.0%
CapEx Ratio14.7%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$28.4BNet debt position
Debt / FCF9.1xElevated debt burden
Current Ratio0.57Tight liquidity
Debt / Equity5.65High leverage

Quarterly FCF Trend

+9.4% YoYStable (+9.4%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameSimon Property Group, Inc.
SectorReal Estate
Free Cash Flow$3.2B
Revenue$6.4B
Net Income$4.6B
Operating Cash Flow$4.1B
Capital Expenditure$934.3M
FCF Margin50.3%
Cash Conversion Rate89.4%
Net Margin72.7%
Total Debt$29.2B
Total Cash$823.1M
Net Cash-$28.4B
Current Ratio0.57
Debt / Equity5.65
Debt / FCF9.1x
YoY FCF Growth+9.4%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2025
GradeB
Data SourceYahoo Finance