What is Simon Property Group's operating margin?

Latest reported operating margin for Simon Property Group (SPG) is 48.28% as of the trailing twelve months (TTM) ending March 31, 2026.

How has Simon Property Group operating margin changed year-over-year?

Simon Property Group (SPG) operating margin changed −2.0 percentage points year-over-year on the latest annual filing.

When did Simon Property Group operating margin hit its highest annual value?

Simon Property Group operating margin reached its highest annual value of 156.29% in 1993.

What was Simon Property Group operating margin in 2024?

Simon Property Group (SPG) operating margin in 2024 was 51.86%.

What was Simon Property Group operating margin in 2025?

Simon Property Group (SPG) operating margin in 2025 was 49.89%.

Simon Property Group (SPG) Operating Margin

TTM

48.3%

YoY change

−1.97pp

Trough year (2009)

37.3%

Peak year (1993)

156.3%

Operating Margin history chart for Simon Property Group (SPG) from 1993 to 2025

Latest: 49.9%

Operating Margin change chart for Simon Property Group (SPG) from 1993 to 2025

Latest: −1.97pp

Operating Margin history table for Simon Property Group (SPG) from 1993 to 2025


2025	49.9%	-1.97pp	Dec 31, 2025	Feb 25, 2026
2024	51.9%	+2.26pp	Dec 31, 2024	Feb 21, 2025
2023	49.6%	+0.78pp	Dec 31, 2023	Feb 22, 2024
2022	48.8%	+1.66pp	Dec 31, 2022	Feb 23, 2023
2021	47.2%	+4.37pp	Dec 31, 2021	Feb 24, 2022
2020	42.8%	-7.82pp	Dec 31, 2020	Feb 25, 2021
2019	50.6%	-1.22pp	Dec 31, 2019	Feb 21, 2020
2018	51.8%	+1.14pp	Dec 31, 2018	Feb 22, 2019
2017	50.7%	+0.64pp	Dec 31, 2017	Feb 23, 2018
2016	50.1%	-0.62pp	Dec 31, 2016	Feb 24, 2017
2015	50.7%	+1.71pp	Dec 31, 2015	Feb 26, 2016
2014	49.0%	+0.80pp	Dec 31, 2014	Feb 27, 2015
2013	48.2%	+1.03pp	Dec 31, 2013	Feb 27, 2014
2012	47.1%	+2.01pp	Dec 31, 2012	Feb 28, 2013
2011	45.1%	+0.98pp	Dec 31, 2011	Feb 28, 2012
2010	44.1%	+6.88pp	Dec 31, 2010	Feb 25, 2011
2009	37.3%	-3.53pp	Dec 31, 2009	Feb 25, 2010
2008	40.8%	-1.26pp	Dec 31, 2008	Feb 26, 2009
2007	42.0%	+2.43pp	Dec 31, 2007	Feb 26, 2008
2006	39.6%	+1.56pp	Dec 31, 2006	Feb 28, 2007
2005	38.1%	-2.69pp	Dec 31, 2005	Mar 8, 2006
2004	40.8%	-2.71pp	Dec 31, 2004	Mar 16, 2005
2003	43.5%	-2.26pp	Dec 31, 2003	Mar 15, 2004
2002	45.7%	+5.05pp	Dec 31, 2002	Mar 7, 2003
2001	40.7%	-3.89pp	Dec 31, 2001	Mar 29, 2002
2000	44.6%	+0.59pp	Dec 31, 2000	Mar 29, 2001
1999	44.0%	-1.72pp	Dec 31, 1999	Mar 29, 2000
1998	45.7%	+0.44pp	Dec 31, 1998	Mar 31, 1999
1997	45.3%	-106.44pp	Dec 31, 1997	Dec 31, 1997
1996	151.7%	-0.19pp	Dec 31, 1996	Dec 31, 1996
1995	151.9%	-0.22pp	Dec 31, 1995	Dec 31, 1995
1994	152.1%	-4.19pp	Dec 31, 1994	Dec 31, 1994
1993	156.3%	—	Dec 31, 1993	Dec 31, 1993

202549.9%-1.97pp
202451.9%+2.26pp
202349.6%+0.78pp
202248.8%+1.66pp
202147.2%+4.37pp
202042.8%-7.82pp
201950.6%-1.22pp
201851.8%+1.14pp
201750.7%+0.64pp
201650.1%-0.62pp
201550.7%+1.71pp
201449.0%+0.80pp
201348.2%+1.03pp
201247.1%+2.01pp
201145.1%+0.98pp
201044.1%+6.88pp
200937.3%-3.53pp
200840.8%-1.26pp
200742.0%+2.43pp
200639.6%+1.56pp
200538.1%-2.69pp
200440.8%-2.71pp
200343.5%-2.26pp
200245.7%+5.05pp
200140.7%-3.89pp
200044.6%+0.59pp
199944.0%-1.72pp
199845.7%+0.44pp
199745.3%-106.44pp
1996151.7%-0.19pp
1995151.9%-0.22pp
1994152.1%-4.19pp
1993156.3%—

Operating Margin values are taken from Simon Property Group's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About Operating Margin at Simon Property Group (SPG)

According to Simon Property Group's latest reported financial statements, the company's latest reported operating margin is 48.3%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending March 31, 2026 (reported May 11, 2026). Chart and table below cover the full reported history back to 1993.

The 2025 reading of Simon Property Group (SPG) operating margin is 49.89% – contracted 2.0 percentage points year-over-year.

The highest annual operating margin of 156.29% was reported in 1993. The lowest in the available history was 37.26% in 2009.

Simon Property Group Operating Margin by Year

Simon Property Group Operating Margin 2025: 49.9%

In 2025, Simon Property Group reported operating margin of 49.89%, contracted 2.0 percentage points from 2024.

Simon Property Group Operating Margin 2024: 51.9%

Simon Property Group operating margin in 2024 was 51.86%, expanded 2.3 percentage points from 2023.

Simon Property Group Operating Margin 2023: 49.6%

2023's operating margin for Simon Property Group came in at 49.60%, expanded 0.8 percentage points from 2022.

Simon Property Group Operating Margin 2022: 48.8%

Simon Property Group posted operating margin of 48.83% in 2022, expanded 1.7 percentage points from 2021.

Simon Property Group Operating Margin 2021: 47.2%

Simon Property Group operating margin in 2021 was 47.16%.

See more financial history for Simon Property Group (SPG).

Sector peers by Operating Margin

Real Estate peers of Simon Property Group (SPG), ranked by their latest operating margin


Public Storage (PSA)	50.8%
Crown Castle (CCI)	48.0%
American Tower (AMT)	44.2%
Prologis (PLD)	38.9%
Realty Income (O)	29.3%
Equinix (EQIX)	20.8%
Digital Realty Trust (DLR)	14.6%
Welltower (WELL)	4.6%

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