Simon Property Group (Simon Property Group) EBIT

: $3,554 Mil (TTM As of Dec. 2023)

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Simon Property Group's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $1,126 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $3,554 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Simon Property Group's annualized ROC % for the quarter that ended in Dec. 2023 was 9.73%. Simon Property Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 924.82%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Simon Property Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.02%.

Simon Property Group EBIT Historical Data

The historical data trend for Simon Property Group's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Simon Property Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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3,242.60

2,057.09

3,521.62

3,297.15

3,553.54

Simon Property Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															1,025.99	705.23	786.08	936.19	1,126.04

Competitive Comparison

For the REIT - Retail subindustry, Simon Property Group's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Simon Property Group EV-to-EBIT Distribution

For the REITs industry and Real Estate sector, Simon Property Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Simon Property Group's EV-to-EBIT falls into.

Simon Property Group EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $3,554 Mil.

Simon Property Group (NYSE:SPG) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Simon Property Group's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	3168.556 * ( 1 - 4.62% )	/	( (31437.959	+	30695.121)	/ 2 )
=	3022.1687128	/	31066.54
=	9.73 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	32964.602	-	3387.855	-	( 769.031	-	max(0, 3387.855	-	1526.643	+	769.031	))
=	31437.959

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	34283.495	-	3456.012	-	( 2168.991	-	max(0, 3456.012	-	3588.374	+	2168.991	))
=	30695.121

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Simon Property Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4504.164	/	( ( (489.989 + max(-2630.243, 0))	+	(484.073 + max(-2629.886, 0)) )	/	2 )
=	4504.164	/	( ( 489.989	+	484.073 )	/	2 )
=	4504.164	/	487.031
=	924.82 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(757.612	+	0	+	0)	-	(3387.855	+	0	+	0)
=	-2630.243

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(826.126	+	0	+	0)	-	(3456.012	+	0	+	0)
=	-2629.886

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Simon Property Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	3553.54	/	70783.815
	=	5.02 %

Simon Property Group EBIT Related Terms

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Simon Property Group (Simon Property Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Simon Property Group Inc (NYSE:SPG) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

SPGpJ.PFD:USA SPG:Mexico 1SPG:Italy SQI:Germany SQI:Germany SIMN34:Brazil SPGR:Austria

Address

225 West Washington Street, Indianapolis, IN, USA, 46204

Website

https://www.simon.com

Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 231 properties: 136 traditional malls, 70 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $693 in sales per square foot over the 12 months prior to the pandemic. The company also owns a 21% interest in Klepierre, a European retail company with investments in shopping centers in 16 countries, and joint venture interests in 33 premium outlets across 11 countries.

Executives

Larry C Glasscock	director	SYSCO CORPORATION, 1390 ENCLAVE PARKWAY, HOUSTON TX 77077
Randall J Lewis	director	WELLPOINT, INC, 120 MONUMENT CIRCLE, INDIANAPOLIS IN 46204
Allan B Hubbard	director	ANTHEM INC., 120 MONUMENT CIRCLE, INDIANAPOLIS IN 46204
Glyn Aeppel	director	6 WHIPPOORWILL LANE, WESTPORT CT 06880
Gary M Rodkin	director	700 ANDERSON HILL RD, PURCHASE NJ 10577
Reuben S Leibowitz	director	466 LEXINGTON AVENUE 10TH FL, NEW YORK NY 10017
Marta R Stewart	director	C/O NORFOLK SOUTHERN CORP, THREE COMMERCIAL PL, NORFOLK VA 23510-9219
Daniel C. Smith	director	3000 GODFREY GRADUATE AND EXECUTIVE CTR., 1275 EAST TENTH STREET, BLOOMINGTON IN 47405-1703
Stefan M Selig	director	2 EAST 70TH STREET, NEW YORK NY 10021
Peggy Fang Roe	director	100 COMMERCE LANE, APT. 1401, BETHESDA MD 20814
Karen N Horn	director
Smith J Albert Jr	director	111 MONUMENT CIRCLE, IN1-0175, INDIANAPOLIS IN 46204
Matthew A Jackson	officer: SVP, Assistant Treasurer	225 W. WASHINGTON ST., INDIANAPOLIS IN 46256
Kevin M Kelly	officer: Asst. General Counsel/Sec.	225 W. WASHINGTON ST., INDIANAPOLIS IN 46204
Donald G Frey	officer: EVP, Treasurer	225 W. WASHINGTON ST., INDIANAPOLIS IN 46204