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SIMON PROPERTY GROUP, INC. FY 2025 10-K, explained in plain English

SPG · 10-K for the period ending December 31, 2025, filed February 25, 2026 · Read the original on SEC.gov →

Key financials — as reported

Total revenue$1.8B
Gross margin— not reported
Operating income$890.7M
Net income— not reported
Diluted EPS$9.35
Cash & equivalents$823.1M
Total assets$40.6B
Long-term debt$28.4B

Key takeaway

The company generated $4.14 billion in operating cash flow but spent $1.60 billion on investing activities and $3.11 billion on financing activities, including dividends of $8.55 per share.

🔒 4 more takeaways in the full analysis

Beneath the surface

Net debt is severe relative to cash: with only $823.1 million in cash and equivalents against $28.6 billion in total debt carrying value (DebtInstrumentCarryingAmount), the company holds minimal liquidity buffer versus its debt load.

🔒 4 more insights a headline reader would miss

This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for SPG.

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