Simon Property Group (SPG) FY2016 results: revenue $5.4 billion, up 3.2% on the year
Simon Property Group Inc. (SPG) reported revenue of $5.4 billion for fiscal 2016, the year ended 31 December 2016, up 3.2% on the year before. Net income was $1.8 billion, up 0.6%, and diluted earnings per share $5.87. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$5.4 billion
+3.2% on the year
FY2009FY2016
Operating margin
50.1%
50.7% a year earlier
FY2009FY2016
Net income
$1.8 billion
+0.6% on the year
FY2009FY2016
Diluted EPS
$5.87
-0.2% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,435
5,266
4,871
+3.2%
Operating income
2,721
2,669
2,385
+1.9%
Operating margin
50.1%
50.7%
49.0%
Interest expense
858
924
993
-7.2%
Income tax
n/a
20.2
28.1
Net income
1,836
1,824
1,405
+0.6%
Net margin
33.8%
34.6%
28.9%
Diluted EPS
$5.87
$5.88
$4.52
-0.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
3,373
3,025
2,730
+11.5%
Capital expenditure
798
1,021
797
-21.8%
Free cash flow
2,574
2,004
1,934
+28.5%
Free cash flow margin
47.4%
38.1%
39.7%
Cash from investing
-969
-1,463
-897
Cash from financing
-2,545
-1,473
-2,938
Depreciation and amortisation
1,253
1,178
1,144
+6.4%
Buybacks
255
n/a
n/a
Dividends paid
2,038
1,879
1,604
+8.4%
Dividend per share
$6.50
$6.05
$5.15
+7.4%
Diluted shares, weighted
n/a
310m
311m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,310
4,471
5,093
-3.6%
Non-controlling interest
649
745
858
-12.8%
Redeemable equity
138
25.5
25.5
+439.5%
Debt
22,977
22,417
20,844
+2.5%
Other liabilities
3,029
2,907
2,711
+4.2%
Total liabilities and equity
31,104
30,565
29,532
+1.8%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
58.1
87.3
112
-33.4%
Cash and equivalents
560
701
612
-20.1%
Other assets
30,465
29,757
28,788
+2.4%
Total assets
31,104
30,565
29,532
+1.8%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.