Question 1

What is Simon Property Group's EV/EBITDA ratio?

Accepted Answer

Simon Property Group (SPG) EV/EBITDA ratio is 13.2× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Simon Property Group?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Simon Property Group specifically, the relevant sector benchmark is the current sector median of 15.8×.

Question 5

Is Simon Property Group's EV/EBITDA ratio high or low?

Accepted Answer

Simon Property Group's EV/EBITDA ratio of 13.2× is below its own 5-year average of 14.4× and below the sector median of 15.8×. That places the current reading at the 23th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Simon Property Group's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Simon Property Group (SPG) EV/EBITDA ratio has ranged from a low of 7.3× in 2002 to a high of 20.3× in 2016. The 5-year average is 14.4× and the 5-year median is 14.0×.

Question 7

What was Simon Property Group's EV/EBITDA ratio in 2025?

Accepted Answer

Simon Property Group (SPG) EV/EBITDA ratio at the end of 2025 was 11.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Simon Property Group's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$60.3B	$7.6B	11.7×	-4.2×	Dec 31, 2025
2024	$56.2B	$5.02B	15.9×	+1.4×	Dec 31, 2024
2023	$46.5B	$4.89B	14.5×	+0.7×	Dec 31, 2023
2022	$38.4B	$4.59B	13.8×	-2.3×	Dec 31, 2022
2021	$52.5B	$4.85B	16.0×	+0.2×	Dec 31, 2021
2020	$28B	$3.41B	15.9×	+0.8×	Dec 31, 2020
2019	$45.8B	$4.64B	15.1×	+0.2×	Dec 31, 2019
2018	$52B	$5.02B	14.9×	-2.4×	Dec 31, 2018
2017	$53.4B	$4.43B	17.3×	-0.7×	Dec 31, 2017
2016	$55.7B	$4.35B	18.0×	-0.1×	Dec 31, 2016
2015	$60.2B	$4.53B	18.1×	-1.5×	Dec 31, 2015
2014	$56.6B	$3.93B	19.6×	+2.8×	Dec 31, 2014
2013	$44.4B	$3.95B	16.8×	+0.5×	Dec 31, 2013
2012	$46B	$4.17B	16.3×	+0.1×	Dec 31, 2012
2011	$35.6B	$3.33B	16.2×	-1.6×	Dec 31, 2011
2010	$27.4B	$2.47B	17.8×	+3.5×	Dec 31, 2010
2009	$21.3B	$2.51B	14.3×	+2.8×	Dec 31, 2009
2008	$11.4B	$2.48B	11.6×	-1.5×	Dec 31, 2008
2007	$18.2B	$2.53B	13.1×	-2.4×	Dec 31, 2007
2006	$20.9B	$2.18B	15.5×	+1.0×	Dec 31, 2006
2005	$15.9B	$2.05B	14.5×	-1.6×	Dec 31, 2005
2004	$12.9B	$1.68B	16.1×	+3.8×	Dec 31, 2004
2003	$8.61B	$1.5B	12.2×	+4.9×	Dec 31, 2003
2002	$5.97B	$2.07B	7.3×	—	Dec 31, 2002


Digital Realty Trust (DLR)	20.1×
Agree Realty (ADC)	20.1×
American Tower (AMT)	18.1×
Public Storage (PSA)	17.7×
CBRE Group (CBRE)	17.2×
Regency Centers (REG)	17.0×
Mid-America Apartment Communities (MAA)	16.1×
AvalonBay Communities (AVB)	16.1×
SBA Communications (SBAC)	15.8×
Tanger (SKT)	15.7×
Prologis (PLD)	15.1×
Kimco Realty (KIM)	15.0×
NNN REIT (NNN)	14.7×
STAG Industrial (STAG)	14.5×
Invitation Homes (INVH)	14.4×
Arbor Realty Trust (ABR)	14.1×
UDR (UDR)	13.0×
Medical Properties Trust (MPT)	12.8×
Extra Space Storage (EXR)	12.8×
BXP (BXP)	12.6×
Camden Property Trust (CPT)	12.4×
Healthpeak Properties (DOC)	11.7×
VICI Properties (VICI)	11.6×
Apartment Investment and Management (AIV)	8.8×
Host Hotels & Resorts (HST)	8.1×

EV/EBITDA for Simon Property Group (SPG) 2002-2026

EV/EBITDA daily chart for Simon Property Group (SPG)

Historical EV/EBITDA for Simon Property Group (SPG) from 2002 to 2025

About EV/EBITDA at Simon Property Group (SPG)

Simon Property Group EV/EBITDA by Year

Simon Property Group EV/EBITDA 2025: 11.7×

Simon Property Group EV/EBITDA 2024: 15.9×

Simon Property Group EV/EBITDA 2023: 14.5×

Simon Property Group EV/EBITDA 2022: 13.8×

Simon Property Group EV/EBITDA 2021: 16.0×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Simon Property Group (SPG) Key Financials