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

Simon Property (SPG) has 17 years of Operating Margin data on file, last reported at 49.72% in Q4 2025.

• Operating 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.
• Operating Margin retreated to 49.72% in Q4 2025 per SPG's latest filing, 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.
• The sharpest annual moves came in 2021 and 2025: Operating Margin soared 914 bps in 2021, then slumped 310 bps in 2025.
• A 5-year view of Operating 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 Operating Margin at 49.72% in Q4 2025, 50.76% in Q3 2025, and 49.66% in Q2 2025.