Simon Property Group (SPG) FY2024 results: revenue $6.0 billion, up 5.4% on the year
Simon Property Group Inc. (SPG) reported revenue of $6.0 billion for fiscal 2024, the year ended 31 December 2024, up 5.4% on the year before. Net income was $2.4 billion, up 3.8%, and diluted earnings per share $7.26. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$6.0 billion
+5.4% on the year
FY2017FY2024
Operating margin
51.9%
49.6% a year earlier
FY2017FY2024
Net income
$2.4 billion
+3.8% on the year
FY2017FY2024
Diluted EPS
$7.26
+4.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,815
3,931
3,767
-3.0%
Capital expenditure
756
793
650
-4.8%
Free cash flow
3,059
3,138
3,117
-2.5%
Free cash flow margin
51.3%
55.4%
58.9%
Cash from investing
1,408
-1,363
-627
Cash from financing
-4,992
-2,020
-3,052
Depreciation and amortisation
1,265
1,262
1,227
+0.3%
Buybacks
n/a
141
180
Dividend per share
$8.10
$7.45
$6.90
+8.7%
Diluted shares, weighted
326m
327m
328m
-0.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,942
3,023
3,139
-2.7%
Non-controlling interest
473
469
473
+0.8%
Redeemable equity
185
196
212
-5.7%
Debt
24,264
26,033
24,960
-6.8%
Other liabilities
4,542
4,562
4,227
-0.5%
Total liabilities and equity
32,406
34,283
33,011
-5.5%
Goodwill
20.1
20.1
20.1
0.0%
Investments
n/a
1,000
n/a
Securities held for sale or to maturity
133
n/a
52.3
Cash and equivalents
1,400
1,169
622
+19.8%
Other assets
30,852
32,094
32,317
-3.9%
Total assets
32,406
34,283
33,011
-5.5%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.