Company Valuation: Simon Property Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 52,503 38,606 46,536 56,188 60,433 65,165 - -
Change - -26.47% 20.54% 20.74% 7.55% 7.83% - -
Enterprise Value (EV) 1 77,291 62,945 71,400 79,053 88,040 92,595 92,726 92,497
Change - -18.56% 13.43% 10.72% 11.37% 5.17% 0.14% -0.25%
P/E 23.4x 18x 20.4x 23.7x 13.1x 30.7x 29.5x 27.5x
PBR 15.6x 13.4x 15.4x 22.1x 13.5x 16.6x 19.1x 21.7x
PEG - -3.85x 2.89x 5.91x 0.1x -0.6x 7.72x 3.65x
Capitalization / Revenue 10.3x 7.3x 8.22x 10.4x 10.3x 9.76x 9.41x 9.03x
EV / Revenue 15.1x 11.9x 12.6x 14.7x 15.1x 13.9x 13.4x 12.8x
EV / EBITDA 21x 16.5x 17.5x 18.1x 19.1x 17.7x 17.2x 16.7x
EV / EBIT 32x 24.4x 25.4x 25.6x 27.7x 28.7x 28.2x 27.1x
EV / FCF 24.9x 20.2x 22.8x 25.8x 27.5x 81.3x 67.8x -
FCF Yield 4.02% 4.95% 4.39% 3.87% 3.64% 1.23% 1.48% -
Dividend per Share 2 5.85 6.9 7.45 8.1 8.55 9.006 9.39 9.883
Rate of return 3.66% 5.87% 5.22% 4.7% 4.62% 4.47% 4.66% 4.91%
EPS 2 6.84 6.52 6.98 7.26 14.17 6.567 6.818 7.332
Distribution rate 85.5% 106% 107% 112% 60.3% 137% 138% 135%
Net sales 1 5,117 5,291 5,659 5,390 5,839 6,674 6,925 7,219
EBITDA 1 3,676 3,811 4,069 4,358 4,602 5,246 5,379 5,530
EBIT 1 2,413 2,584 2,807 3,093 3,175 3,232 3,291 3,412
Net income 1 2,246 2,136 2,280 2,368 4,624 2,237 2,362 2,517
Net Debt 1 24,787 24,339 24,864 22,864 27,607 27,431 27,561 27,332
Reference price 2 159.77 117.48 142.64 172.21 185.11 201.40 201.40 201.40
Nbr of stocks (in thousands) 328,619 328,619 326,247 326,278 326,470 323,560 - -
Announcement Date 2/7/22 2/6/23 2/5/24 2/4/25 1/30/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
38.15x18.2x23.1x3.34% 122B
30.67x13.87x17.65x4.47% 65.16B
35.56x14.41x14.88x6.07% 50.72B
18.02x15.22x17.34x1.15% 37.48B
16.08x25.01x27.39x3.57% 16.38B
25.74x10.42x14.35x4.87% 14.78B
8.01x11.77x14.43x6.23% 14.35B
17.95x16.04x23.31x5.37% 13.93B
28.67x11.03x16.1x4.26% 13.03B
Average 24.32x 15.11x 18.73x 4.37% 38.62B
Weighted average by Cap. 30.22x 15.89x 19.48x 4.03%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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