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

Simon Property (SPG-PJ) has reported Operating Margin for 17 consecutive years, with 49.72% the latest figure, recorded in Q4 2025.

• On a quarterly basis, Operating Margin fell 310.0% year-over-year to 49.72% in Q4 2025; TTM through Dec 2025 was 49.89%, a 197.0% decrease from a year earlier, with the FY2025 full-year figure at 49.89%, down 197.0% from the prior year.
• Operating Margin was 49.72% for Q4 2025 at Simon Property, down from 50.76% in the prior quarter.
• Over five years, Operating Margin peaked at 52.82% in Q4 2024 and troughed at 44.61% in Q4 2021.
• A 5-year average of 49.46% and a median of 49.3% in 2023 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin surged 914 bps in 2021 and tumbled 310 bps in 2025, its largest moves.
• Over 5 years, Operating Margin stood at 44.61% in 2021, then gained by 10 bps to 48.88% in 2022, then advanced by 6 bps to 51.86% in 2023, then increased by 2 bps to 52.82% in 2024, then slipped by 6 bps to 49.72% in 2025.
• The last three Operating Margin figures came in at 49.72% (Q4 2025), 50.76% (Q3 2025), and 49.66% (Q2 2025), per Business Quant data.