Simon Property (SPG-PJ) Operating Expenses (2009 - 2025)

Simon Property (SPG-PJ) reported Operating Expenses of $900.8 million for Q4 2025, up 20.67% year-over-year from $746.5 million in Q4 2024, and up 14.22% quarter-over-quarter from $788.7 million in Q3 2025.

Simon Property (SPG-PJ) Operating Expenses (2009 - 2025) Analysis & Trends

Simon Property (SPG-PJ) has 17 years of Operating Expenses data on file, last reported at $900.8 million in Q4 2025.

  • Operating Expenses for Q4 2025 came in at $900.8 million, up 20.67% year-over-year; the trailing twelve-month figure through Dec 2025 was $3.2 billion (up 11.08% YoY), and the FY2025 annual result was $3.2 billion, up 11.08% from the prior year.
  • Operating Expenses climbed to $900.8 million in Q4 2025 per SPG-PJ's latest filing, from $788.7 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $900.8 million in Q4 2025 and troughed at $635.3 million in Q1 2021.
  • A 5-year average of $716.2 million and a median of $712.3 million in 2023 frame the typical range for Operating Expenses.
  • The sharpest annual moves came in 2021 and 2025: Operating Expenses slipped 9.04% in 2021, then grew 20.67% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $734.6 million in 2021, then dropped by 2.57% to $715.7 million in 2022, then grew by 2.74% to $735.3 million in 2023, then rose by 1.52% to $746.5 million in 2024, then climbed by 20.67% to $900.8 million in 2025.
  • Business Quant data shows SPG-PJ's Operating Expenses at $900.8 million in Q4 2025, $788.7 million in Q3 2025, and $754.3 million in Q2 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Simon Property 69.18 Bn 69.56 Bn 1.76 Bn 900.79 Mn
2 Realty Income 55.47 Bn 56.16 Bn - 1.24 Bn
3 Kimco Realty 17.00 Bn 17.03 Bn 447.43 Mn 364.31 Mn
4 Regency Centers 14.85 Bn 14.97 Bn - 73.30 Mn
5 Federal Realty Investment Trust 10.68 Bn 10.75 Bn 265.49 Mn 220.41 Mn
6 Agree Realty 8.92 Bn 8.90 Bn - 104.48 Mn
7 Nnn Reit 8.68 Bn 8.68 Bn - 105.96 Mn
8 Essential Properties Realty Trust 6.37 Bn 6.38 Bn - 74.46 Mn
9 Macerich 6.30 Bn 6.10 Bn 158.29 Mn 278.05 Mn
10 Simon Property - - 1.76 Bn 900.79 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 900.79 Mn
Sep 30, 2025 788.66 Mn
Jun 30, 2025 754.26 Mn
Mar 31, 2025 745.40 Mn
Dec 31, 2024 746.49 Mn
Sep 30, 2024 712.94 Mn
Jun 30, 2024 704.17 Mn
Mar 31, 2024 707.41 Mn
Dec 31, 2023 735.30 Mn
Sep 30, 2023 716.71 Mn
Jun 30, 2023 711.68 Mn
Mar 31, 2023 688.13 Mn
Dec 31, 2022 715.69 Mn
Sep 30, 2022 663.59 Mn
Jun 30, 2022 653.08 Mn
Mar 31, 2022 675.53 Mn
Dec 31, 2021 734.61 Mn
Sep 30, 2021 684.23 Mn
Jun 30, 2021 649.42 Mn
Mar 31, 2021 635.34 Mn