Simon Property (SPG) Cost of Revenue (2009 - 2025)
Simon Property (SPG) posted quarterly Cost of Revenue of $35.4 million for Q4 2025, up 20.74% year-over-year from $29.3 million in Q4 2024, and down 12.01% quarter-over-quarter from $40.2 million in Q3 2025.
Simon Property (SPG) Cost of Revenue (2009 - 2025) Analysis & Trends
Simon Property (SPG) has reported Cost of Revenue for 17 consecutive years, with $35.4 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Cost of Revenue rose 20.74% year-over-year to $35.4 million; the TTM figure through Dec 2025 stood at $142.2 million (down 4.99% YoY), while the FY2025 annual figure was $142.2 million, down 4.99% from the prior year.
- Cost of Revenue slipped to $35.4 million in Q4 2025 per SPG's latest filing, from $40.2 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $56.3 million in Q4 2021 and bottomed at $23.6 million in Q1 2021.
- Historically, Cost of Revenue has averaged $38.6 million across 5 years, with a median of $39.0 million in 2024.
- Annual changes were most pronounced in 2022 — Cost of Revenue surged 80.08% — and 2024, when it tumbled 47.2%.
- Simon Property's Cost of Revenue stood at $56.3 million in 2021, then decreased by 19.12% to $45.6 million in 2022, then gained by 21.75% to $55.5 million in 2023, then sank by 47.2% to $29.3 million in 2024, then advanced by 20.74% to $35.4 million in 2025.
- Business Quant data shows SPG's Cost of Revenue at $35.4 million in Q4 2025, $40.2 million in Q3 2025, and $35.7 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Simon Property | 71.66 Bn | 71.66 Bn | 1.76 Bn | 35.37 Mn |
| 2 | Realty Income | 57.60 Bn | 57.60 Bn | - | - |
| 3 | Kimco Realty | 16.10 Bn | 16.10 Bn | 455.67 Mn | 95.13 Mn |
| 4 | Federal Realty Investment Trust | 10.06 Bn | 10.06 Bn | 271.22 Mn | 64.49 Mn |
| 5 | Agree Realty | 8.80 Bn | 8.78 Bn | - | - |
| 6 | Nnn Reit | 8.64 Bn | 8.64 Bn | - | - |
| 7 | Macerich | 6.73 Bn | 6.73 Bn | 171.77 Mn | 77.93 Mn |
| 8 | Essential Properties Realty Trust | 6.51 Bn | 6.51 Bn | - | - |
| 9 | Kite Realty Group Trust | 5.29 Bn | 5.29 Bn | - | - |
| 10 | Phillips Edison & Company | 5.01 Bn | 5.01 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 35.37 Mn |
| Dec 31, 2025 | 35.37 Mn |
| Sep 30, 2025 | 40.20 Mn |
| Sep 30, 2025 | 40.20 Mn |
| Jun 30, 2025 | 35.66 Mn |
| Jun 30, 2025 | 35.66 Mn |
| Mar 31, 2025 | 30.98 Mn |
| Mar 31, 2025 | 30.98 Mn |
| Dec 31, 2024 | 29.29 Mn |
| Dec 31, 2024 | 29.29 Mn |
| Sep 30, 2024 | 37.78 Mn |
| Sep 30, 2024 | 37.78 Mn |
| Jun 30, 2024 | 41.55 Mn |
| Jun 30, 2024 | 41.55 Mn |
| Mar 31, 2024 | 41.05 Mn |
| Mar 31, 2024 | 41.05 Mn |
| Dec 31, 2023 | 55.48 Mn |
| Dec 31, 2023 | 55.48 Mn |
| Sep 30, 2023 | 41.24 Mn |
| Sep 30, 2023 | 41.24 Mn |