Simon Property (SPG) Gross Margin (2009 - 2025)
Simon Property (SPG) reported Gross Margin of 98.03% for Q4 2025, down 12.0% year-over-year from 111.39% in Q4 2024, and up 0.55% quarter-over-quarter from 97.49% in Q3 2025.
Simon Property (SPG) Gross Margin (2009 - 2025) Analysis & Trends
Simon Property (SPG) has 17 years of Gross Margin data on file, last reported at 98.03% in Q4 2025.
- Gross Margin for Q4 2025 came in at 98.03%, down 12.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 97.77% (up 28.0% YoY), and the FY2025 annual result was 97.77%, up 28.0% from the prior year.
- Gross Margin improved to 98.03% in Q4 2025 per SPG's latest filing, from 97.49% in the prior quarter.
- Over five years, Gross Margin peaked at 98.15% in Q4 2024 and troughed at 95.75% in Q4 2021.
- A 5-year average of 97.26% and a median of 97.42% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2024: Gross Margin slumped 137 bps in 2022, then soared 178 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 95.75% in 2021, then increased by 1 bps to 96.75% in 2022, then slipped by 0 bps to 96.37% in 2023, then climbed by 2 bps to 98.15% in 2024, then dropped by 0 bps to 98.03% in 2025.
- Business Quant data shows SPG's Gross Margin at 98.03% in Q4 2025, 97.49% in Q3 2025, and 97.62% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Simon Property | 67.46 Bn | 67.84 Bn | 1.76 Bn | 98.03% |
| 2 | Realty Income | 55.47 Bn | 56.16 Bn | - | - |
| 3 | Kimco Realty | 16.36 Bn | 16.39 Bn | 447.43 Mn | 82.48% |
| 4 | Regency Centers | 14.49 Bn | 14.61 Bn | - | - |
| 5 | Federal Realty Investment Trust | 10.47 Bn | 10.54 Bn | 265.49 Mn | 79.01% |
| 6 | Agree Realty | 8.78 Bn | 8.76 Bn | - | - |
| 7 | Nnn Reit | 8.52 Bn | 8.52 Bn | - | - |
| 8 | Essential Properties Realty Trust | 6.32 Bn | 6.32 Bn | - | - |
| 9 | Kite Realty Group Trust | 6.09 Bn | 6.20 Bn | - | - |
| 10 | Macerich | 6.03 Bn | 5.83 Bn | 158.29 Mn | 65.53% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 98.03% |
| Sep 30, 2025 | 97.49% |
| Jun 30, 2025 | 97.62% |
| Mar 31, 2025 | 97.90% |
| Dec 31, 2024 | 98.15% |
| Sep 30, 2024 | 97.45% |
| Jun 30, 2024 | 97.15% |
| Mar 31, 2024 | 97.15% |
| Dec 31, 2023 | 96.37% |
| Sep 30, 2023 | 97.08% |
| Jun 30, 2023 | 96.70% |
| Mar 31, 2023 | 96.60% |
| Dec 31, 2022 | 96.75% |
| Sep 30, 2022 | 97.66% |
| Jun 30, 2022 | 97.39% |
| Mar 31, 2022 | 96.73% |
| Dec 31, 2021 | 95.75% |
| Sep 30, 2021 | 97.59% |
| Jun 30, 2021 | 97.66% |
| Mar 31, 2021 | 98.10% |