Question 1

What is Simon Property Group's P/FCF ratio?

Accepted Answer

Simon Property Group (SPG) P/FCF ratio is 20.9× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. 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 P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Simon Property Group?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Simon Property Group specifically, the relevant sector benchmark is the current sector median of 17.0×.

Question 5

Is Simon Property Group's P/FCF ratio high or low?

Accepted Answer

Simon Property Group's P/FCF ratio of 20.9× is above its own 5-year average of 15.1× and above the sector median of 17.0×. That places the current reading at the 99th 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 P/FCF ratio range?

Accepted Answer

In the available daily series, Simon Property Group (SPG) P/FCF ratio has ranged from a low of 5.9× in 2020 to a high of 60.0× in 2008. The 5-year average is 15.1× and the 5-year median is 15.2×.

Question 7

What was Simon Property Group's P/FCF ratio in 2025?

Accepted Answer

Simon Property Group (SPG) P/FCF ratio at the end of 2025 was 18.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Simon Property Group's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). 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	$60.35B	$3.24B	18.7×	+0.3×	Dec 31, 2025
2024	$56.19B	$3.06B	18.4×	+3.5×	Dec 31, 2024
2023	$46.49B	$3.14B	14.8×	+2.5×	Dec 31, 2023
2022	$38.41B	$3.12B	12.3×	-4.6×	Dec 31, 2022
2021	$52.50B	$3.11B	16.9×	+1.7×	Dec 31, 2021
2020	$28.01B	$1.84B	15.2×	-0.4×	Dec 31, 2020
2019	$45.78B	$2.93B	15.6×	-1.9×	Dec 31, 2019
2018	$51.96B	$2.97B	17.5×	-1.2×	Dec 31, 2018
2017	$53.39B	$2.86B	18.7×	-3.0×	Dec 31, 2017
2016	$55.73B	$2.57B	21.7×	-8.4×	Dec 31, 2016
2015	$60.16B	$2.00B	30.0×	+0.8×	Dec 31, 2015
2014	$56.60B	$1.93B	29.3×	+5.4×	Dec 31, 2014
2013	$44.41B	$1.86B	23.9×	-3.0×	Dec 31, 2013
2012	$45.99B	$1.71B	26.9×	+4.1×	Dec 31, 2012
2011	$35.62B	$1.56B	22.8×	+4.5×	Dec 31, 2011
2010	$27.40B	$1.50B	18.3×	+2.4×	Dec 31, 2010
2009	$21.32B	$1.34B	15.9×	+0.3×	Dec 31, 2009
2008	$11.37B	$731.95M	15.5×	-26.0×	Dec 31, 2008
2007	$18.21B	$438.27M	41.6×	+0.3×	Dec 31, 2007
2006	$20.85B	$505.66M	41.2×	+5.5×	Dec 31, 2006
2005	$15.94B	$446.48M	35.7×	+11.5×	Dec 31, 2005
2004	$12.94B	$533.55M	24.2×	+9.9×	Dec 31, 2004
2003	$8.61B	$598.06M	14.4×	+5.5×	Dec 31, 2003
2002	$5.97B	$669.00M	8.9×	-45.7×	Dec 31, 2002
2001	$4.69B	$85.95M	54.6×	—	Dec 31, 2001


Kimco Realty (KIM)	19.3×
SBA Communications (SBAC)	17.9×
BXP (BXP)	17.7×
Equity Residential (EQR)	17.6×
Federal Realty Investment Trust (FRT)	17.3×
STAG Industrial (STAG)	17.2×
Tanger (SKT)	17.0×
Essex Property Trust (ESS)	16.2×
Extra Space Storage (EXR)	15.8×
Public Storage (PSA)	15.5×
AvalonBay Communities (AVB)	15.2×
Camden Property Trust (CPT)	14.3×
Realty Income (O)	13.6×
Invitation Homes (INVH)	13.3×
Crown Castle (CCI)	13.0×
Medical Properties Trust (MPT)	12.8×
Host Hotels & Resorts (HST)	12.7×
UDR (UDR)	12.4×
NNN REIT (NNN)	12.2×
VICI Properties (VICI)	11.4×
Universal Health Realty Income Trust (UHT)	11.3×
Healthpeak Properties (DOC)	9.7×
Arbor Realty Trust (ABR)	7.6×
Alexandria Real Estate Equities (ARE)	6.2×
Opendoor Technologies (OPEN)	4.2×

P/FCF Ratio for Simon Property Group (SPG)

P/FCF Ratio daily chart for Simon Property Group (SPG)

Historical P/FCF Ratio for Simon Property Group (SPG) from 2001 to 2025

About P/FCF Ratio at Simon Property Group (SPG)

Simon Property Group P/FCF Ratio by Year

Simon Property Group P/FCF Ratio 2025: 18.7×

Simon Property Group P/FCF Ratio 2024: 18.4×

Simon Property Group P/FCF Ratio 2023: 14.8×

Simon Property Group P/FCF Ratio 2022: 12.3×

Simon Property Group P/FCF Ratio 2021: 16.9×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Simon Property Group (SPG) Key Financials

P/FCF Ratio daily chart for Simon Property Group (SPG)

Historical P/FCF Ratio for Simon Property Group (SPG) from 2001 to 2025

About P/FCF Ratio at Simon Property Group (SPG)

Simon Property Group P/FCF Ratio by Year

Simon Property Group P/FCF Ratio 2025: 18.7×

Simon Property Group P/FCF Ratio 2024: 18.4×

Simon Property Group P/FCF Ratio 2023: 14.8×

Simon Property Group P/FCF Ratio 2022: 12.3×

Simon Property Group P/FCF Ratio 2021: 16.9×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Simon Property Group's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Simon Property Group?

+Is Simon Property Group's P/FCF ratio high or low?

+What is Simon Property Group's historical P/FCF ratio range?

+What was Simon Property Group's P/FCF ratio in 2025?

+Why does Simon Property Group's P/FCF ratio change over time?

Simon Property Group (SPG) Key Financials