Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Reported profit understates the cash the centers produce
Depreciation, a charge that costs no cash, absorbs a quarter of revenue, so operating cash runs at twice net income.
For investorsWhat Simon's cash flow depends on from here
For foundersThe lease design behind a portfolio that stays full
Interest grew nearly twice as fast as operating income, so the larger portfolio keeps less of each extra rent dollar.
New deals start above the $62.42 portfolio average, so each expiry lifts rent without building anything new.
Operating income rose 10.74% while net income fell 10.81%, mostly because a one-off gain last year did not recur.
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Business Lens describes Simon Property Group from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
