Simon Property (SPG) EBITDA Margin (2009 - 2025)
Simon Property (SPG) reported EBITDA Margin of 49.72% for Q4 2025, down 310.0% year-over-year from 23.67% in Q4 2024, and down 2.05% quarter-over-quarter from 50.76% in Q3 2025.
Simon Property (SPG) EBITDA Margin (2009 - 2025) Analysis & Trends
Simon Property (SPG) has 17 years of EBITDA Margin data on file, last reported at 49.72% in Q4 2025.
- EBITDA Margin for Q4 2025 came in at 49.72%, down 310.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 49.89% (down 197.0% YoY), and the FY2025 annual result was 49.89%, down 197.0% from the prior year.
- EBITDA Margin retreated to 49.72% in Q4 2025 per SPG's latest filing, from 50.76% in the prior quarter.
- Over five years, EBITDA 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 EBITDA Margin.
- The sharpest annual moves came in 2021 and 2025: EBITDA Margin soared 914 bps in 2021, then slumped 310 bps in 2025.
- A 5-year view of EBITDA Margin shows it stood at 44.61% in 2021, then advanced by 10 bps to 48.88% in 2022, then climbed by 6 bps to 51.86% in 2023, then rose by 2 bps to 52.82% in 2024, then dropped by 6 bps to 49.72% in 2025.
- Business Quant data shows SPG's EBITDA Margin at 49.72% in Q4 2025, 50.76% in Q3 2025, and 49.66% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Simon Property | 67.46 Bn | 67.84 Bn | 1.76 Bn | 49.72% |
| 2 | Realty Income | 55.47 Bn | 56.16 Bn | - | 22.21% |
| 3 | Kimco Realty | 16.36 Bn | 16.39 Bn | 447.43 Mn | 36.37% |
| 4 | Regency Centers | 14.49 Bn | 14.61 Bn | - | 71.86% |
| 5 | Federal Realty Investment Trust | 10.47 Bn | 10.54 Bn | 265.49 Mn | 39.40% |
| 6 | Agree Realty | 8.78 Bn | 8.76 Bn | - | 33.58% |
| 7 | Nnn Reit | 8.52 Bn | 8.52 Bn | - | 61.00% |
| 8 | Essential Properties Realty Trust | 6.32 Bn | 6.32 Bn | - | 56.45% |
| 9 | Kite Realty Group Trust | 6.09 Bn | 6.20 Bn | - | 87.54% |
| 10 | Macerich | 6.03 Bn | 5.83 Bn | 158.29 Mn | -49.58% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 49.72% |
| Sep 30, 2025 | 50.76% |
| Jun 30, 2025 | 49.66% |
| Mar 31, 2025 | 49.40% |
| Dec 31, 2024 | 52.82% |
| Sep 30, 2024 | 51.85% |
| Jun 30, 2024 | 51.71% |
| Mar 31, 2024 | 50.96% |
| Dec 31, 2023 | 51.86% |
| Sep 30, 2023 | 49.20% |
| Jun 30, 2023 | 48.04% |
| Mar 31, 2023 | 49.06% |
| Dec 31, 2022 | 48.88% |
| Sep 30, 2022 | 49.57% |
| Jun 30, 2022 | 48.97% |
| Mar 31, 2022 | 47.87% |
| Dec 31, 2021 | 44.61% |
| Sep 30, 2021 | 47.23% |
| Jun 30, 2021 | 48.22% |
| Mar 31, 2021 | 48.76% |