Simon Property Group (SPG) FY2015 results: revenue $5.3 billion, up 8.1% on the year
Simon Property Group Inc. (SPG) reported revenue of $5.3 billion for fiscal 2015, the year ended 31 December 2015, up 8.1% on the year before. Net income was $1.8 billion, up 29.8%, and diluted earnings per share $5.88. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$5.3 billion
+8.1% on the year
FY2008FY2015
Operating margin
50.7%
49.0% a year earlier
FY2008FY2015
Net income
$1.8 billion
+29.8% on the year
FY2008FY2015
Diluted EPS
$5.88
+30.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,266
4,871
4,544
+8.1%
Operating income
2,669
2,385
2,189
+11.9%
Operating margin
50.7%
49.0%
48.2%
Interest expense
924
993
1,082
-6.9%
Income tax
20.2
28.1
39.5
-28.2%
Net income
1,824
1,405
1,316
+29.8%
Net margin
34.6%
28.9%
29.0%
Diluted EPS
$5.88
$4.52
$4.24
+30.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
3,025
2,730
2,701
+10.8%
Capital expenditure
1,021
797
841
+28.1%
Free cash flow
2,004
1,934
1,860
+3.6%
Free cash flow margin
38.1%
39.7%
40.9%
Cash from investing
-1,463
-897
-948
Cash from financing
-1,473
-2,938
-1,221
Depreciation and amortisation
1,178
1,144
1,108
+2.9%
Dividends paid
1,879
1,604
1,446
+17.2%
Dividend per share
$6.05
$5.15
$4.65
+17.5%
Diluted shares, weighted
310m
311m
310m
-0.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,471
5,093
5,849
-12.2%
Non-controlling interest
745
858
973
-13.2%
Redeemable equity
25.5
25.5
n/a
0.0%
Debt
22,417
20,844
23,563
+7.5%
Other liabilities
2,907
2,711
2,939
+7.2%
Total liabilities and equity
30,565
29,532
33,325
+3.5%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
87.3
112
94.7
-22.0%
Cash and equivalents
701
612
1,691
+14.5%
Other assets
29,757
28,788
31,519
+3.4%
Total assets
30,565
29,532
33,325
+3.5%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.