Simon Property Group (SPG) FY2019 results: revenue $5.8 billion, up 1.9% on the year
Simon Property Group Inc. (SPG) reported revenue of $5.8 billion for fiscal 2019, the year ended 31 December 2019, up 1.9% on the year before. Net income was $2.1 billion, down 13.9%, and diluted earnings per share $6.81. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$5.8 billion
+1.9% on the year
FY2012FY2019
Operating margin
50.5%
51.8% a year earlier
FY2012FY2019
Net income
$2.1 billion
-13.9% on the year
FY2012FY2019
Diluted EPS
$6.81
-13.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,755
5,645
5,527
+1.9%
Operating income
2,908
2,926
2,802
-0.6%
Operating margin
50.5%
51.8%
50.7%
Interest expense
789
816
809
-3.3%
Net income
2,098
2,437
1,945
-13.9%
Net margin
36.5%
43.2%
35.2%
Diluted EPS
$6.81
$7.87
$6.24
-13.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
3,808
3,751
3,594
+1.5%
Capital expenditure
876
782
732
+12.0%
Free cash flow
2,932
2,969
2,862
-1.2%
Free cash flow margin
50.9%
52.6%
51.8%
Cash from investing
-1,077
-237
-761
Cash from financing
-2,576
-4,482
-1,910
Depreciation and amortisation
1,341
1,282
1,275
+4.5%
Buybacks
360
354
407
+1.6%
Dividends paid
n/a
2,449
2,231
Dividend per share
$8.30
$7.90
$7.15
+5.1%
Diluted shares, weighted
308m
n/a
n/a
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,526
3,297
3,686
-23.4%
Non-controlling interest
385
500
553
-23.1%
Redeemable equity
219
230
190
-4.8%
Debt
24,163
23,306
24,632
+3.7%
Other liabilities
3,938
3,354
3,196
+17.4%
Total liabilities and equity
31,232
30,686
32,258
+1.8%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
52.8
40.1
55.7
+31.6%
Cash and equivalents
669
514
1,482
+30.1%
Other assets
30,489
30,112
30,700
+1.3%
Total assets
31,232
30,686
32,258
+1.8%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.