Simon Property Group (SPG) Q1 FY2026 earnings: revenue $1.8 billion, up 19.3% on the year
Simon Property Group Inc. (SPG) reported revenue of $1.8 billion for Q1 FY2026, the quarter ended 31 March 2026, up 19.3% on the same quarter a year earlier. Net income was $480 million, up 15.9% on the year, and diluted earnings per share $1.48. The figures are the company's own, from the 10-Q it filed with the SEC on 11 May 2026.
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
| $ million | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 | On the quarter | On the year | Last 8 quarters |
|---|---|---|---|---|---|---|
| Revenue | 1,757 | 1,791 | 1,473 | -1.9% | +19.3% | |
| Operating income | 762 | 891 | 728 | -14.4% | +4.7% | |
| Operating margin | 43.4% | 49.7% | 49.4% | |||
| Interest expense | 276 | 272 | 227 | +1.2% | +21.4% | |
| Net income | 480 | 3,048 | 414 | -84.3% | +15.9% | |
| Net margin | 27.3% | 170.2% | 28.1% | |||
| Diluted EPS | $1.48 | $9.35 | $1.27 | -84.2% | +16.5% |
$ million except per share.
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Free 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 | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 | On the quarter | On the year | Last 8 quarters |
|---|---|---|---|---|---|---|
| Operating cash flow | 833 | 1,204 | 827 | -30.8% | +0.7% | |
| Capital expenditure | 208 | 255 | 230 | -18.2% | -9.5% | |
| Free cash flow | 625 | 949 | 597 | -34.1% | +4.7% | |
| Free cash flow margin | 35.6% | 53.0% | 40.5% | |||
| Cash from investing | -106 | -362 | -378 | |||
| Cash from financing | -1,007 | -1,571 | -470 | |||
| Depreciation and amortisation | 459 | 421 | 328 | +9.1% | +39.9% | |
| Buybacks | 175 | n/a | n/a | |||
| Dividend per share | $2.20 | n/a | $2.10 | +4.8% | ||
| Diluted shares, weighted | 325m | 326m | 326m | -0.4% | -0.4% |
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
| $ million | Q1 FY2026 | Q4 FY2025 | Q1 FY2025 | On the quarter | On the year | Last 8 quarters |
|---|---|---|---|---|---|---|
| Shareholders' equity | 4,859 | 5,208 | 2,606 | -6.7% | +86.5% | |
| Non-controlling interest | 1,214 | 1,264 | 420 | -4.0% | +188.8% | |
| Redeemable equity | 264 | 233 | 242 | +13.3% | +9.3% | |
| Debt | 28,248 | 28,430 | 24,753 | -0.6% | +14.1% | |
| Other liabilities | 5,055 | 5,471 | 4,480 | -7.6% | +12.8% | |
| Total liabilities and equity | 39,639 | 40,606 | 32,501 | -2.4% | +22.0% | |
| Goodwill | n/a | 20.1 | n/a | |||
| Securities held for sale or to maturity | 164 | 162 | 136 | +1.4% | +20.7% | |
| Cash and equivalents | 543 | 823 | 1,380 | -34.0% | -60.7% | |
| Other assets | 38,932 | 39,602 | 30,985 | -1.7% | +25.6% | |
| Total assets | 39,639 | 40,606 | 32,501 | -2.4% | +22.0% |
Questions
What was Simon Property Group's revenue in Q1 FY2026?
Simon Property Group (SPG) reported revenue of $1.8 billion for Q1 FY2026, the quarter ended 31 March 2026, up 19.3% on the same quarter a year earlier.
How much did Simon Property Group earn in Q1 FY2026?
Net income for Q1 FY2026 was $480 million, up 15.9% on the year, and diluted earnings per share $1.48.
When did Simon Property Group report Q1 FY2026 results?
Simon Property Group filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 11 May 2026.
Quarterly results, the last 20 quarters
| Q4 FY2021 | Q1 FY2022 | Q2 FY2022 | Q3 FY2022 | Q4 FY2022 | Q1 FY2023 | Q2 FY2023 | Q3 FY2023 | Q4 FY2023 | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,326 | 1,296 | 1,280 | 1,316 | 1,400 | 1,351 | 1,370 | 1,411 | 1,527 | 1,443 | 1,458 | 1,481 | 1,582 | 1,473 | 1,498 | 1,602 | 1,791 | 1,757 | 1,791 | 1,815 |
| Operating income | 592 | 620 | 627 | 652 | 684 | 663 | 658 | 694 | 792 | 735 | 754 | 768 | 836 | 728 | 744 | 813 | 891 | 762 | 824 | 804 |
| Operating margin | 45% | 48% | 49% | 50% | 49% | 49% | 48% | 49% | 52% | 51% | 52% | 52% | 53% | 49% | 50% | 51% | 50% | 43% | 46% | 44% |
| Interest expense | 194 | 185 | 187 | 188 | 201 | 199 | 218 | 212 | 225 | 231 | 221 | 226 | 227 | 227 | 233 | 243 | 272 | 276 | 281 | 288 |
| Net income | 503 | 427 | 497 | 539 | 674 | 452 | 486 | 594 | 747 | 732 | 493 | 475 | 667 | 414 | 556 | 606 | 3,048 | 480 | 483 | 499 |
| Net margin | 38% | 33% | 39% | 41% | 48% | 33% | 36% | 42% | 49% | 51% | 34% | 32% | 42% | 28% | 37% | 38% | 170% | 27% | 27% | 27% |
| Diluted EPS | $1.53 | $1.30 | $1.51 | $1.65 | $2.06 | $1.38 | $1.49 | $1.82 | $2.29 | $2.25 | $1.51 | $1.46 | $2.04 | $1.27 | $1.70 | $1.86 | $9.35 | $1.48 | $1.49 | $1.54 |
| Operating cash flow | 885 | 792 | 1,101 | 942 | 932 | 829 | 1,129 | 936 | 1,037 | 773 | 1,063 | 893 | 1,086 | 827 | 1,215 | 890 | 1,204 | 833 | 1,196 | 1,072 |
| Capital expenditure | 108 | 155 | 155 | 156 | 185 | 166 | 221 | 228 | 178 | 163 | 188 | 186 | 218 | 230 | 244 | 205 | 255 | 208 | 237 | 250 |
| Free cash flow | 776 | 637 | 946 | 786 | 748 | 663 | 908 | 708 | 858 | 610 | 875 | 706 | 868 | 597 | 971 | 685 | 949 | 625 | 959 | 822 |
| Buybacks | n/a | n/a | n/a | 36.3 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | 175 | 161 | 237 |
| Filing | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q |
Each quarter as filed, linked to its filing.
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Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.10-Q for the period ended 31 March 2026, filed 11 May 2026: the filing.