Simon Property Group (SPG) FY2020 results: revenue $4.6 billion, down 19.9% on the year
Simon Property Group Inc. (SPG) reported revenue of $4.6 billion for fiscal 2020, the year ended 31 December 2020, down 19.9% on the year before. Net income was $1.1 billion, down 47.1%, and diluted earnings per share $3.59. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$4.6 billion
-19.9% on the year
FY2013FY2020
Operating margin
42.8%
50.5% a year earlier
FY2013FY2020
Net income
$1.1 billion
-47.1% on the year
FY2013FY2020
Diluted EPS
$3.59
-47.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,608
5,755
5,645
-19.9%
Operating income
1,972
2,908
2,926
-32.2%
Operating margin
42.8%
50.5%
51.8%
Interest expense
784
789
816
-0.6%
Net income
1,109
2,098
2,437
-47.1%
Net margin
24.1%
36.5%
43.2%
Diluted EPS
$3.59
$6.81
$7.87
-47.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,327
3,808
3,751
-38.9%
Capital expenditure
484
876
782
-44.7%
Free cash flow
1,843
2,932
2,969
-37.2%
Free cash flow margin
40.0%
50.9%
52.6%
Cash from investing
-3,978
-1,077
-237
Cash from financing
1,994
-2,576
-4,482
Depreciation and amortisation
1,318
1,341
1,282
-1.7%
Buybacks
153
360
354
-57.6%
Dividends paid
n/a
n/a
2,449
Dividend per share
$6.00
$8.30
$7.90
-27.7%
Diluted shares, weighted
309m
308m
n/a
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,039
2,526
3,297
+20.3%
Non-controlling interest
433
385
500
+12.5%
Redeemable equity
186
219
230
-15.1%
Debt
26,723
24,163
23,306
+10.6%
Other liabilities
4,405
3,938
3,354
+11.9%
Total liabilities and equity
34,787
31,232
30,686
+11.4%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
40.5
52.8
40.1
-23.2%
Cash and equivalents
1,012
669
514
+51.1%
Other assets
33,715
30,489
30,112
+10.6%
Total assets
34,787
31,232
30,686
+11.4%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.