Simon Property (SPG) EBITDA Margin (2009 - 2025)
Simon Property (SPG) posted quarterly 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 reported EBITDA Margin for 17 consecutive years, with 49.72% the latest figure, recorded in Q4 2025.
- In Q4 2025, EBITDA Margin fell 310.0% year-over-year to 49.72%; the TTM figure through Dec 2025 stood at 49.89% (down 197.0% YoY), while the FY2025 annual figure was 49.89%, down 197.0% from the prior year.
- EBITDA Margin declined to 49.72% in Q4 2025 per SPG's latest filing, from 50.76% in the prior quarter.
- Across five years, EBITDA Margin topped out at 52.82% in Q4 2024 and bottomed at 44.61% in Q4 2021.
- Historically, EBITDA Margin has averaged 49.46% across 5 years, with a median of 49.3% in 2023.
- Annual changes were most pronounced in 2021 — EBITDA Margin soared 914 bps — and 2025, when it slumped 310 bps.
- Simon Property's EBITDA Margin stood at 44.61% in 2021, then climbed by 10 bps to 48.88% in 2022, then grew by 6 bps to 51.86% in 2023, then gained by 2 bps to 52.82% in 2024, then declined 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 | 72.47 Bn | 72.47 Bn | 1.76 Bn | 49.72% |
| 2 | Realty Income | 57.84 Bn | 57.84 Bn | - | 52.67% |
| 3 | Kimco Realty | 16.15 Bn | 16.15 Bn | 455.67 Mn | 35.61% |
| 4 | Federal Realty Investment Trust | 10.05 Bn | 10.05 Bn | 271.22 Mn | 41.30% |
| 5 | Agree Realty | 8.87 Bn | 8.86 Bn | - | 46.47% |
| 6 | Nnn Reit | 8.70 Bn | 8.70 Bn | - | 61.97% |
| 7 | Macerich | 6.67 Bn | 6.67 Bn | 171.77 Mn | -42.31% |
| 8 | Essential Properties Realty Trust | 6.53 Bn | 6.53 Bn | - | 64.50% |
| 9 | Kite Realty Group Trust | 5.31 Bn | 5.31 Bn | - | - |
| 10 | Phillips Edison & Company | 5.02 Bn | 5.02 Bn | - | - |
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% |