Simon Property Group (SPG) FY2017 results: revenue $5.5 billion, up 1.7% on the year
Simon Property Group Inc. (SPG) reported revenue of $5.5 billion for fiscal 2017, the year ended 31 December 2017, up 1.7% on the year before. Net income was $1.9 billion, up 5.9%, and diluted earnings per share $6.24. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$5.5 billion
+1.7% on the year
FY2010FY2017
Operating margin
50.7%
50.1% a year earlier
FY2010FY2017
Net income
$1.9 billion
+5.9% on the year
FY2010FY2017
Diluted EPS
$6.24
+6.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,527
5,435
5,266
+1.7%
Operating income
2,802
2,721
2,669
+3.0%
Operating margin
50.7%
50.1%
50.7%
Interest expense
809
858
924
-5.6%
Income tax
n/a
n/a
20.2
Net income
1,945
1,836
1,824
+5.9%
Net margin
35.2%
33.8%
34.6%
Diluted EPS
$6.24
$5.87
$5.88
+6.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
3,594
3,373
3,025
+6.6%
Capital expenditure
732
798
1,021
-8.3%
Free cash flow
2,862
2,574
2,004
+11.2%
Free cash flow margin
51.8%
47.4%
38.1%
Cash from investing
-761
-969
-1,463
Cash from financing
-1,910
-2,545
-1,473
Depreciation and amortisation
1,275
1,253
1,178
+1.8%
Buybacks
407
255
n/a
+59.4%
Dividends paid
2,231
2,038
1,879
+9.5%
Dividend per share
$7.15
$6.50
$6.05
+10.0%
Diluted shares, weighted
n/a
n/a
310m
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,686
4,310
4,471
-14.5%
Non-controlling interest
553
649
745
-14.9%
Redeemable equity
190
138
25.5
+38.3%
Debt
24,632
22,977
22,417
+7.2%
Other liabilities
3,196
3,029
2,907
+5.5%
Total liabilities and equity
32,258
31,104
30,565
+3.7%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
55.7
58.1
87.3
-4.3%
Cash and equivalents
1,482
560
701
+164.7%
Other assets
30,700
30,465
29,757
+0.8%
Total assets
32,258
31,104
30,565
+3.7%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.