Simon Property Group (SPG) FY2018 results: revenue $5.6 billion, up 2.1% on the year
Simon Property Group Inc. (SPG) reported revenue of $5.6 billion for fiscal 2018, the year ended 31 December 2018, up 2.1% on the year before. Net income was $2.4 billion, up 25.3%, and diluted earnings per share $7.87. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$5.6 billion
+2.1% on the year
FY2011FY2018
Operating margin
51.8%
50.7% a year earlier
FY2011FY2018
Net income
$2.4 billion
+25.3% on the year
FY2011FY2018
Diluted EPS
$7.87
+26.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
5,645
5,527
5,435
+2.1%
Operating income
2,926
2,802
2,721
+4.4%
Operating margin
51.8%
50.7%
50.1%
Interest expense
816
809
858
+0.8%
Net income
2,437
1,945
1,836
+25.3%
Net margin
43.2%
35.2%
33.8%
Diluted EPS
$7.87
$6.24
$5.87
+26.1%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
3,751
3,594
3,373
+4.4%
Capital expenditure
782
732
798
+6.8%
Free cash flow
2,969
2,862
2,574
+3.7%
Free cash flow margin
52.6%
51.8%
47.4%
Cash from investing
-237
-761
-969
Cash from financing
-4,482
-1,910
-2,545
Depreciation and amortisation
1,282
1,275
1,253
+0.5%
Buybacks
354
407
255
-13.0%
Dividends paid
2,449
2,231
2,038
+9.8%
Dividend per share
$7.90
$7.15
$6.50
+10.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,297
3,686
4,310
-10.6%
Non-controlling interest
500
553
649
-9.5%
Redeemable equity
230
190
138
+20.8%
Debt
23,306
24,632
22,977
-5.4%
Other liabilities
3,354
3,196
3,029
+4.9%
Total liabilities and equity
30,686
32,258
31,104
-4.9%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
40.1
55.7
58.1
-28.0%
Cash and equivalents
514
1,482
560
-65.3%
Other assets
30,112
30,700
30,465
-1.9%
Total assets
30,686
32,258
31,104
-4.9%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.