Simon Property Group, Inc. (SPG)

FairStock Score: 81/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Simon as a real estate owner, not as a screen of reported EPS. It owns premier shopping, dining and entertainment centers, and the operating record shows resilience: in fiscal 2025, the year ended 2025-12-31, filed revenue was $6.4B, net income $5.4B and diluted EPS $14.17, up from fiscal 2024, the year ended 2024-12-31, revenue $6.0B, net income $2.7B and EPS $7.26. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $1.8B with net income $568.5M and EPS $1.48; in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $1.8B, net income $574.1M and EPS $1.49. That is a steady top line, though reported profit is lumpy and helped by large fiscal Q4 2025 net income of $3.5B in the quarter ended 2025-12-31. The Lynch label is STALWART, with profit growing 33.2% a year over five years and revenue 6.7%. For a REIT I would not use the Graham Number or a margin-of-safety calculation from EPS; depreciation distorts EPS. FFO/AFFO, the right REIT measures, are not in the data. At the 2026-10-26 close of $212.69, FairStock's P/E is 15.01, P/B 15.66, dividend yield 4.33%, FCF yield 4.7%, EV/EBITDA 11.66 and D/E 5.04. The high P/B and leverage mean I would lean on dividend coverage, revenue trend and cash flow. Piotroski 8/9 and FairStock score 80/100 are constructive, but Altman Z 1.10 and D/E 5.04 are cautions. The price looks fair, not bargain-cheap, until FFO/AFFO confirms cash earnings.

In plain English: Simon Property Group owns and runs large shopping, dining, and entertainment centers. The business looks strong because revenue and profit have grown, cash flow is solid, and it pays a meaningful dividend. At $212.69, the price looks fair rather than cheap against its numbers; because property companies' reported profit is affected by depreciation, these figures do not point to a clear bargain.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer