SPGSimon Property Group
Simon Property Group, Inc. is an Indiana corporation that operates as a self-administered and self-managed real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, or the Internal Revenue Code. 10-K, Item 1
- Headquarters
- Indianapolis, IN
- CEO
- David Simon
- Next results
- around Feb 1, 2027
The biggest changes in the 10-K filed 2026-02-25, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Net income
+95.3% Big change FY to 2025-12-31 vs 2024-12-31“decreased other income of $59.9 million, or $0.16 per diluted share/unit, primarily due to decreased interest income of $56.6 million, or $0.15 per diluted share/unit,”
Read it in the 10-K ↗
“Other income decreased $59.9 million, primarily due to a $56.6 million decrease in interest income, a net decrease in mixed use and franchise operations of $18.9 million and a $7.0 million decrease in lease settlements, partially offset by a $14.8 million increase in net other income primarily related to the property transactions noted above and a $7.8 million increase in land sale activity.”
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Operating margin
51.9% → 49.9% (-2.0 pts) Big change FY to 2025-12-31 vs 2024-12-31“increased property operating expenses in 2025 of $51.2 million, or $0.14 per diluted share/unit primarily due to the consolidation of properties in 2025 through our acquisition activity,”
Read it in the 10-K ↗
Cash from operations
+8.4% FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Revenue
+6.7% FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on SPG in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/SPG/export.csv") into a cell.