Simon Property Group (SPG) FY2023 results: revenue $5.7 billion, up 6.9% on the year
Simon Property Group Inc. (SPG) reported revenue of $5.7 billion for fiscal 2023, the year ended 31 December 2023, up 6.9% on the year before. Net income was $2.3 billion, up 6.7%, and diluted earnings per share $6.98. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$5.7 billion
+6.9% on the year
FY2016FY2023
Operating margin
49.6%
48.8% a year earlier
FY2016FY2023
Net income
$2.3 billion
+6.7% on the year
FY2016FY2023
Diluted EPS
$6.98
+7.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,931
3,767
3,637
+4.4%
Capital expenditure
793
650
528
+22.0%
Free cash flow
3,138
3,117
3,109
+0.7%
Free cash flow margin
55.4%
58.9%
60.8%
Cash from investing
-1,363
-627
-553
Cash from financing
-2,020
-3,052
-3,562
Depreciation and amortisation
1,262
1,227
1,263
+2.8%
Buybacks
141
180
n/a
-22.1%
Dividend per share
$7.45
$6.90
$5.85
+8.0%
Diluted shares, weighted
327m
328m
329m
-0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,023
3,139
3,361
-3.7%
Non-controlling interest
469
473
492
-0.9%
Redeemable equity
196
212
548
-7.7%
Debt
26,033
24,960
25,321
+4.3%
Other liabilities
4,562
4,227
4,056
+7.9%
Total liabilities and equity
34,283
33,011
33,777
+3.9%
Goodwill
20.1
20.1
20.1
0.0%
Investments
1,000
n/a
n/a
Securities held for sale or to maturity
n/a
52.3
60.9
Cash and equivalents
1,169
622
534
+88.1%
Other assets
32,094
32,317
33,162
-0.7%
Total assets
34,283
33,011
33,777
+3.9%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.