Simon Property Group, Inc. Financial Ratios — SPG Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	21.76	27.34	22.56	25.89	38.5	42.22	49.17	70.66	73.14	40.47	71.12	66.58	75.01	80.49	114.62
Return on Assets (%)	4.01	4.88	4	4.48	6.08	5.96	6.15	7.75	6.79	3.37	6.56	6.41	6.79	7.11	12.68
Return on Capital (%)	7.51	8.11	7.15	7.58	8.92	8.57	8.58	10.15	9.28	- -	8.77	8.61	9.34	9.94	15.12
Return on Invested Capital (%)	8.13	7.27	7.11	8.3	9.7	9.63	9.71	10.24	10.44	- -	7.44	8.4	9.15	10.47	9.81
Gross Margin (%)	78.64	81.19	81.56	81.88	81.77	82.13	82.27	82.15	82.25	80.75	81.02	81.08	81.83	82.5	81.9
EBITDA Margin (%)	70.95	77.56	77.5	75.37	74.21	74.49	75.26	75.75	74.84	72.2	73.07	73.24	73.17	74.66	74.31
Operating Margin (%)	45.12	46.99	48.17	48.97	50.68	50.06	50.7	51.84	50.61	42.8	47.16	48.83	49.6	51.86	49.89
Incremental Operating Margin (%)	36.51	-112.68	65.65	60.15	71.73	30.72	88.5	105.09	-12.29	81.99	86.67	97.54	60.83	93.71	20.61
Pretax Margin (%)	29.2	37.1	30.95	33.88	41.01	39.82	41.04	50.65	42.63	27.62	53.27	47.92	47.69	46.15	84.84
Profit Margin (%)	23.8	33.7	29.04	28.92	34.71	33.83	35.24	43.22	36.52	24.15	43.97	40.43	40.35	39.75	72.71
Net Income to Common Margin (%)	23.72	33.63	28.97	28.85	34.64	33.77	35.18	43.16	36.46	24.07	43.9	40.37	40.29	39.7	72.66
Effective Tax Rate (%)	0.92	1	2.81	1.7	0.93	1.37	1.03	1.29	1.23	- -	5.77	3.29	3.03	0.85	0.66
Dvd Payout Ratio (%)	84.77	80.32	105.75	100.65	89.58	96.93	101.18	88.04	107.46	115.44	93.17	93.74	94.77	98.66	52.98
Sustainable Growth Rate (%)	3.31	5.38	-1.3	-0.17	4.01	1.3	-0.58	8.45	-5.46	-6.25	4.86	4.16	3.92	1.08	53.9

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	18,446	23,113	22,670	20,853	22,417	22,977	24,632	23,306	24,680	27,239	25,828	25,458	26,518	24,785	29,187
ST Debt	- -	- -	- -	409	879	954	978	759	1,327	623	500	- -	- -	- -	355
LT Debt	18,446	23,113	22,670	20,444	21,538	22,023	23,654	22,547	23,353	26,616	25,328	25,458	26,518	24,785	28,832
Total Debt/EBITDA	6.04	7	6.44	5.68	5.74	5.68	5.92	5.45	5.73	8.19	6.91	6.57	6.4	5.57	6.17
Net Debt/EBITDA	5.78	6.64	5.96	5.51	5.56	5.54	5.57	5.33	5.45	7.73	6.63	6.28	6.01	5.13	5.84
Total Debt/EBIT	9.49	11.56	10.36	8.74	8.4	8.44	8.79	7.96	8.47	13.81	10.7	9.85	9.45	8.01	9.19
Net Debt/EBIT	9.08	10.97	9.59	8.49	8.14	8.24	8.26	7.79	8.07	13.04	10.27	9.42	8.86	7.39	8.69
EBITDA to Interest Expense	3.11	3.09	3.25	3.7	4.23	4.72	5.14	5.24	5.46	4.24	4.7	5.09	4.84	4.92	4.85
EBITDA-CapEx/Interest Expense	3.11	3.09	3.25	3.7	4.23	4.72	5.14	5.24	5.46	4.24	4.7	5.09	4.84	4.92	4.85
EBIT to Interest Expense	1.98	1.87	2.02	2.4	2.89	3.17	3.46	3.59	3.69	2.51	3.03	3.39	3.28	3.41	3.26
Interest Expense	984	1,068	1,082	993	924	858	809	816	789	784	796	761	855	906	975
Common Equity/Total Assets	17.56	18	17.42	17.1	14.49	13.72	11.29	10.6	7.95	8.62	9.83	9.38	8.7	8.95	12.73
Long-Term Debt/Equity (%)	317.37	326.87	323.25	342.04	410.88	432.03	534.04	559.88	746.03	727.56	575.54	665.77	719.12	688.57	429.98
Long-Term Debt/Capital (%)	76.04	76.57	76.37	76.2	77.87	78.45	81.39	82.49	83.97	86.14	83.79	86.94	87.79	87.32	80.33
Long-Term Debt/Total Assets (%)	70.36	70.93	68.03	69.23	70.47	70.81	73.33	73.48	74.77	76.51	74.98	77.12	77.35	76.48	71
Total Debt/Equity (%)	317.37	326.87	323.25	348.88	427.64	450.74	556.13	578.71	788.42	744.59	586.9	665.77	719.12	688.57	435.27
Total Debt/Capital (%)	76.04	76.57	76.37	77.72	81.05	81.84	84.76	85.27	88.74	88.16	85.44	86.94	87.79	87.32	81.32
Total Debt/Total Assets (%)	70.36	70.93	68.03	70.61	73.34	73.87	76.36	75.95	79.02	78.3	76.47	77.12	77.35	76.48	71.88
Net Debt to Equity	303.63	310.11	299.14	338.64	414.27	439.75	522.67	565.94	750.53	702.85	563.25	636.49	674.27	635.21	411.71
Net Debt/Capital (%)	75.22	75.62	74.95	77.2	80.55	81.47	83.94	84.98	86.56	86.03	83.47	84.92	85.63	84.73	78.72
EBITDA	3,056	3,301	3,522	3,671	3,908	4,049	4,160	4,276	4,307	3,327	3,739	3,876	4,141	4,453	4,730
EBITDA-CapEx	3,056	3,301	3,522	3,671	3,908	4,049	4,160	4,276	4,307	3,327	3,739	3,876	4,141	4,453	4,730
Operating Income (Loss)	1,943	2,000	2,189	2,385	2,669	2,721	2,802	2,926	2,913	1,972	2,413	2,584	2,807	3,093	3,175

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.45	0.56	0.5	0.22	0.2	0.16	0.41	0.14	0.16	0.25	0.15	0.19	0.63	0.41	0.2
Current Ratio	1.28	1.03	1.68	0.55	0.48	0.48	0.77	0.5	0.47	0.68	0.67	0.66	1.04	0.83	0.57
Quick Ratio	1.28	1.03	0.79	0.55	0.48	0.48	0.77	0.5	0.47	0.68	0.57	0.66	1.04	0.83	0.57
CFO/Avg Current Liab	1.35	1.29	0.98	0.88	0.94	0.95	1	1.03	0.96	0.56	0.97	1.12	1.18	1.11	1.11
Common Equity/Total Assets	17.56	18	17.42	17.1	14.49	13.72	11.29	10.6	7.95	8.62	9.83	9.38	8.7	8.95	12.73
Long-Term Debt/Equity (%)	317.37	326.87	323.25	342.04	410.88	432.03	534.04	559.88	746.03	727.56	575.54	665.77	719.12	688.57	429.98
Long-Term Debt/Capital (%)	76.04	76.57	76.37	76.2	77.87	78.45	81.39	82.49	83.97	86.14	83.79	86.94	87.79	87.32	80.33
Long-Term Debt/Total Assets (%)	70.36	70.93	68.03	69.23	70.47	70.81	73.33	73.48	74.77	76.51	74.98	77.12	77.35	76.48	71
Total Debt/Equity (%)	317.37	326.87	323.25	348.88	427.64	450.74	556.13	578.71	788.42	744.59	586.9	665.77	719.12	688.57	435.27
Total Debt/Capital (%)	76.04	76.57	76.37	77.72	81.05	81.84	84.76	85.27	88.74	88.16	85.44	86.94	87.79	87.32	81.32
Total Debt/Total Assets (%)	70.36	70.93	68.03	70.61	73.34	73.87	76.36	75.95	79.02	78.3	76.47	77.12	77.35	76.48	71.88
CFO/Total Liabilities	9.83	9.85	10.27	11.59	11.94	12.97	12.91	14.07	13.55	7.47	12.38	12.9	12.85	13.24	12.2
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.32	1.29	1.32	1.62	1.62	1.48	1.37	1.37	1.14	0.57	1.18	0.92	1.1	1.37	1.27

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	17.7	8.44	8.72	8.85	8.74	8.43	7.86	7.49	7.21	4.45	4.75	6.07	6.86	7.35	7.36
Days Sales Outstanding	20.63	43.22	41.84	41.24	41.75	43.29	46.47	48.7	50.61	81.95	76.91	60.12	53.2	49.65	49.62
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	1.69	0.65	0.65	0.71	0.74	0.77	0.79	0.78	0.75	0.66	0.71	0.68	0.65	0.61	0.63
Accounts Payable Turnover Days	216.6	562.26	565.67	513.26	491.03	476.91	462.4	468.23	483.66	555.96	515.92	533.27	565.19	595.68	580.9
Cash Conversion Cycle	-195.98	-519.04	-523.83	-472.02	-449.28	-433.62	-415.93	-419.52	-433.05	-474.02	-439.01	-473.14	-511.99	-546.03	-531.27
Inventory to Cash Days	20.63	43.22	41.84	41.24	41.75	43.29	46.47	48.7	50.61	81.95	76.91	60.12	53.2	49.65	49.62
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	36,091	46,061	44,433	56,598	60,164	55,624	53,354	51,912	45,711	28,015	52,504	38,411	46,489	56,188	60,202
- Cash & Cash Equivalents	799	1,185	1,691	612	701	560	1,482	514	669	1,012	534	622	1,169	1,400	823
+ Preferred Equity and Hybrid Capital	45	45	44	44	44	43	43	43	42	42	42	41	41	41	40
+ Minority/Non Controlling Interest	1,163	1,160	1,164	884	770	787	743	730	604	619	1,039	685	665	658	1,497
+ Total Debt	18,446	23,113	22,670	20,853	22,417	22,977	24,632	23,306	24,680	27,239	25,828	25,458	26,518	24,785	29,187
Enterprise Value	54,947	69,195	66,620	77,766	82,693	78,872	77,290	75,476	70,368	54,903	78,879	63,974	71,544	80,271	90,103
Total Capital	24,259	30,184	29,683	26,830	27,659	28,075	29,062	27,333	27,810	30,897	30,229	29,282	30,206	28,384	35,892
Total Debt/Capital (%)	76.04	76.57	76.37	77.72	81.05	81.84	84.76	85.27	88.74	88.16	85.44	86.94	87.79	87.32	81.32
Total Debt / EV	0.34	0.33	0.34	0.27	0.27	0.29	0.32	0.31	0.35	0.5	0.33	0.4	0.37	0.31	0.32
EV/Sales	12.76	16.26	14.66	15.97	15.7	14.51	13.98	13.37	12.23	11.92	15.42	12.09	12.64	13.46	14.16
EV/EBITDA	17.98	20.96	18.92	21.18	21.16	19.48	18.58	17.65	16.34	16.5	21.1	16.51	17.28	18.03	19.05
EV/EBIT	28.28	34.6	30.44	32.6	30.98	28.99	27.58	25.79	24.16	27.84	32.69	24.76	25.49	25.95	28.38
EV/Cash Flow to Firm	18.44	19.38	17.75	20.98	20.99	18.7	17.59	16.57	15.34	17.63	17.98	14.21	15.03	17.03	17.65
EV/Free Cash Flow to Firm	18.44	19.38	17.75	20.98	20.99	18.7	17.59	16.57	15.34	17.63	17.98	14.21	15.03	17.03	17.65
Diluted Market Cap	35,587	45,055	44,382	56,587	60,296	55,556	53,500	52,014	45,896	26,329	52,498	38,512	46,616	56,157	60,414
Diluted Enterprise Value	54,442	68,189	66,569	77,756	82,826	78,803	77,436	75,579	70,553	53,217	78,873	64,075	72,671	80,240	90,315
EV per Share	184.55	223.28	214.48	250.22	267.25	251.93	248.79	244.25	229.31	167.13	240.03	195.67	219.52	246.02	277.05
TTM Sales	4,306	4,256	4,544	4,871	5,266	5,435	5,527	5,645	5,755	4,608	5,117	5,291	5,659	5,964	6,365
TTM EBITDA	3,056	3,301	3,522	3,671	3,908	4,049	4,160	4,276	4,307	3,327	3,739	3,876	4,141	4,453	4,730
TTM Operating Income	1,943	2,000	2,189	2,385	2,669	2,721	2,802	2,926	2,913	1,972	2,413	2,584	2,807	3,093	3,175
TTM Cash Flow to Firm	2,980	3,571	3,753	3,706	3,940	4,218	4,395	4,556	4,588	3,114	4,387	4,503	4,760	4,713	5,105
TTM Free Cash Flow to Firm	2,980	3,571	3,753	3,706	3,940	4,218	4,395	4,556	4,588	3,114	4,387	4,503	4,760	4,713	5,105

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	17.74	17.93	16.43	20.72	19.93	16.47	14.89	13.87	12.05	11.32	14.43	10.22	11.86	14.72	14.6
EV/EBIT	28.28	34.6	30.44	32.6	30.98	28.99	27.58	25.79	24.16	27.84	32.69	24.76	25.49	25.95	28.38
Enterprise Value	54,947	69,195	66,620	77,766	82,693	78,872	77,290	75,476	70,368	54,903	78,879	63,974	71,544	80,271	90,103
Low Price	89.59	118.02	133.94	140.65	170.99	173.11	150.15	145.78	142.4	42.25	82.06	86.02	100.17	135.15	136.34
EV/Sales	12.76	16.26	14.66	15.97	15.7	14.51	13.98	13.37	12.23	11.92	15.42	12.09	12.64	13.46	14.16
EV/EBITDA	17.98	20.96	18.92	21.18	21.16	19.48	18.58	17.65	16.34	16.5	21.1	16.51	17.28	18.03	19.05
Price/Earnings	34.83	31.48	33.72	40.27	33.05	30.27	27.51	21.35	21.87	23.74	23.37	18.03	20.45	23.72	13.06
Price/Earnings Average	30.72	29.76	35.35	36.41	32.06	34.04	26.57	21.41	24.03	22.5	18.74	18.03	16.71	21.64	12.13
Price/Earnings High	35.64	32.69	40.43	41.61	35.38	39.03	30.13	24.33	27.38	41.72	25.03	25.45	21.06	25.62	13.42
Price/Earnings Low	25.74	25	31.57	31.1	29.06	29.49	24.05	18.52	20.91	11.76	12	13.2	14.36	18.61	9.62
Price/Book Value	7.84	7.85	7.65	11.21	13.59	13.04	14.65	15.95	18.4	9.35	15.82	12.4	15.59	19.37	11.65
Price/Book Value Average	6.91	7.42	8.03	10.13	13.18	14.66	14.14	16	20.22	8.86	12.69	12.4	12.75	17.67	10.81
Price/Book Value High	8.02	8.15	9.18	11.58	14.55	16.81	16.04	18.19	23.03	16.43	16.94	17.51	16.06	20.92	11.97
Price/Book Value Low	5.79	6.24	7.17	8.66	11.95	12.7	12.8	13.84	17.59	4.63	8.12	9.08	10.95	15.2	8.58
Price/Tangible Book Value	8.38	8.6	8.18	11.95	14.49	13.97	15.53	16.73	19.14	9.52	16.07	12.56	15.74	19.52	11.81
Price/Tangible Book Value Average	7.39	8.13	8.58	10.8	14.06	15.71	15	16.78	21.03	9.02	12.89	12.56	12.87	17.81	10.96
Price/Tangible Book Value High	8.57	8.93	9.81	12.35	15.51	18.01	17.01	19.07	23.96	16.73	17.22	17.72	16.21	21.08	12.13
Price/Tangible Book Value Low	6.19	6.83	7.66	9.23	12.74	13.61	13.58	14.52	18.3	4.72	8.26	9.19	11.06	15.32	8.7
Price/Sales	8.26	10.59	9.77	11.62	11.45	10.22	9.68	9.21	7.97	5.71	10.26	7.28	8.24	9.42	9.49
Price/Sales Average	7.29	10.01	10.24	10.5	11.11	11.5	9.35	9.24	8.76	5.42	8.23	7.28	6.73	8.59	8.81
Price/Sales High	8.45	10.99	11.71	12	12.26	13.18	10.6	10.5	9.98	10.04	10.99	10.27	8.48	10.17	9.75
Price/Sales Low	6.11	8.41	9.15	8.97	10.07	9.96	8.46	8	7.62	2.83	5.27	5.33	5.78	7.39	6.99
Price/Cash Flow	17.74	17.93	16.43	20.72	19.93	16.47	14.89	13.87	12.05	11.32	14.43	10.22	11.86	14.72	14.6
Price/Cash Flow Average	15.65	16.95	17.23	18.74	19.34	18.52	14.38	13.91	13.24	10.72	11.58	10.22	9.69	13.43	13.56
Price/Cash Flow High	18.15	18.62	19.7	21.42	21.34	21.24	16.3	15.81	15.09	19.89	15.46	14.43	12.21	15.9	15
Price/Cash Flow Low	13.11	14.24	15.39	16.01	17.53	16.05	13.02	12.03	11.52	5.61	7.41	7.49	8.33	11.55	10.76
Price/Free Cash Flow Average	15.65	16.95	17.23	18.74	19.34	18.52	14.38	13.91	13.24	10.72	11.58	10.22	9.69	13.43	13.56
Price/Free Cash Flow High	18.15	18.62	19.7	21.42	21.34	21.24	16.3	15.81	15.09	19.89	15.46	14.43	12.21	15.9	15
Price/Free Cash Flow Low	13.11	14.24	15.39	16.01	17.53	16.05	13.02	12.03	11.52	5.61	7.41	7.49	8.33	11.55	10.76
EV/Sales Average	11.77	15.67	15.14	14.85	15.36	15.79	13.65	13.4	13.01	11.6	13.38	12.09	11.32	12.63	13.48
EV/Sales High	12.95	16.67	16.61	16.35	16.51	17.47	14.9	14.66	14.23	16.52	16.14	15.08	13.07	14.21	14.41
EV/Sales Low	10.57	14.03	14.04	13.32	14.33	14.25	12.77	12.15	11.88	8.85	10.42	10.15	10.37	11.43	11.67
EV/EBITDA Average	16.59	20.2	19.53	19.7	20.7	21.19	18.14	17.69	17.39	16.06	18.32	16.51	15.47	16.92	18.14
EV/EBITDA High	18.26	21.5	21.43	21.7	22.24	23.46	19.8	19.35	19.01	22.88	22.09	20.59	17.86	19.04	19.4
EV/EBITDA Low	14.9	18.09	18.11	17.67	19.3	19.13	16.97	16.05	15.87	12.25	14.27	13.85	14.18	15.31	15.7
EV/EBIT Average	26.09	33.34	31.42	30.33	30.31	31.54	26.93	25.85	25.71	27.1	28.38	24.76	22.82	24.36	27.02
EV/EBIT High	28.71	35.49	34.48	33.39	32.57	34.91	29.39	28.27	28.11	38.61	34.23	30.88	26.34	27.41	28.89
EV/EBIT Low	23.43	29.86	29.15	27.2	28.27	28.46	25.19	23.45	23.47	20.68	22.1	20.78	20.91	22.04	23.38
Last Price	121.22	148.63	143.05	182.11	194.44	177.67	171.74	167.99	148.96	85.28	159.77	117.48	142.64	172.21	185.11
High Price	124.03	154.35	171.53	188.18	208.14	229.1	188.1	191.49	186.44	149.89	171.12	165.83	146.91	186	190.14
Enterprise Value Average	50,690	66,675	68,776	72,339	80,889	85,803	75,457	75,634	74,878	53,439	68,486	63,973	64,058	75,343	85,786
Enterprise Value High	55,783	70,967	75,466	79,653	86,933	94,973	82,373	82,738	81,870	76,127	82,608	79,782	73,936	84,770	91,739
Enterprise Value Low	45,529	59,709	63,790	64,881	75,438	77,444	70,583	68,613	68,355	40,767	53,342	53,688	58,703	68,179	74,242

Shares Outstanding	298	310	311	311	309	313	311	309	307	329	329	327	326	326	325
Diluted Weighted Avg Shares	294	303	310	311	310	313	312	310	308	309	329	328	327	326	326
Basic Weighted Avg Shares	294	303	310	311	310	313	312	310	308	309	329	328	327	326	326
Revenue per Share	14.67	14.04	14.65	15.68	16.98	17.38	17.74	18.23	18.68	14.92	15.57	16.14	17.32	18.29	19.5
EBITDA per Share	10.41	10.89	11.35	11.81	12.6	12.95	13.35	13.81	13.98	10.78	11.38	11.82	12.67	13.65	14.49
Operating Income per Share	6.62	6.6	7.05	7.68	8.61	8.7	9	9.45	9.45	6.39	7.34	7.88	8.59	9.48	9.73
Basic EPS, GAAP	3.48	4.72	4.24	4.52	5.88	5.87	6.24	7.87	6.81	3.59	6.84	6.52	6.98	7.26	14.17
Basic EPS from Cont Ops	4.24	5.16	4.41	5.22	6.9	6.83	7.21	9.12	7.86	4.14	7.82	7.48	8.01	8.37	16.44
Diluted EPS, GAAP	3.48	4.72	4.24	4.52	5.88	5.87	6.24	7.87	6.81	3.59	6.84	6.52	6.98	7.26	14.17
Diluted EPS from Cont Ops	4.24	5.16	4.41	5.22	6.9	6.83	7.21	9.12	7.86	4.14	7.82	7.48	8.01	8.37	16.44
Dividend per Share	4.24	4.9	5.45	6.04	7.08	7.53	8.26	9.11	9.57	5.39	8.19	7.91	8.56	9.34	9.91
Cash Flow per Share	6.83	8.29	8.71	8.79	9.75	10.79	11.54	12.11	12.36	7.54	11.07	11.49	12.03	11.7	12.67
Free Cash Flow per Basic Share	6.83	8.29	8.71	8.79	9.75	10.79	11.54	12.11	12.36	7.54	11.07	11.49	12.03	11.7	12.67
Cash & Equivalents per Share	2.68	3.82	5.44	1.97	2.27	1.79	4.77	1.66	2.18	3.08	1.62	1.9	6.65	4.29	2.53
Book Value per Share	15.47	18.93	18.69	16.25	14.31	13.63	11.73	10.53	8.09	9.12	10.1	9.47	9.15	8.89	15.89
Tangible Book Value per Share	14.47	17.29	17.48	15.24	13.42	12.72	11.06	10.04	7.78	8.96	9.94	9.36	9.06	8.82	15.68

Simon Property Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)