Simon Property Group, Inc.

WBAG:SPGR Stock Report

Market Cap: €56.3b

Simon Property Group Valuation

Is SPGR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SPGR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SPGR (€173.15) is trading below our estimate of fair value (€237.41)

Significantly Below Fair Value: SPGR is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SPGR?

Key metric: As SPGR is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SPGR. This is calculated by dividing SPGR's market cap by their current earnings.
What is SPGR's PE Ratio?
PE Ratio24x
EarningsUS$2.45b
Market CapUS$59.10b

Price to Earnings Ratio vs Peers

How does SPGR's PE Ratio compare to its peers?

The above table shows the PE ratio for SPGR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average46.4x
O Realty Income
58x18.6%US$50.3b
KIM Kimco Realty
48.6x13.0%US$17.1b
REG Regency Centers
34.4x4.4%US$13.4b
SCG Scentre Group
44.6x21.7%AU$18.9b
SPGR Simon Property Group
24x-1.2%€59.1b

Price-To-Earnings vs Peers: SPGR is good value based on its Price-To-Earnings Ratio (24x) compared to the peer average (46.3x).

Price to Earnings Ratio vs Industry

How does SPGR's PE Ratio compare vs other companies in the European Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SPGR 24.0xIndustry Avg. 22.5xNo. of Companies4PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SPGR is expensive based on its Price-To-Earnings Ratio (24x) compared to the European Retail REITs industry average (22.5x).

Price to Earnings Ratio vs Fair Ratio

What is SPGR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SPGR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SPGR's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SPGR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€173.15
€168.31
-2.8%
9.5%€211.27€144.05n/a17
Nov ’25€155.50
€156.14
+0.4%
7.1%€184.56€138.42n/a17
Oct ’25€151.25
€149.93
-0.9%
7.5%€179.18€129.91n/a17
Sep ’25€149.80
€148.37
-1.0%
8.9%€179.94€130.46n/a17
Aug ’25€141.50
€146.89
+3.8%
8.5%€175.28€133.76n/a17
Jul ’25€136.65
€147.36
+7.8%
8.3%€175.45€133.89n/a17
Jun ’25€138.00
€147.36
+6.8%
8.3%€175.45€133.89n/a17
May ’25€134.45
€147.56
+9.8%
7.7%€169.18€133.47n/a17
Apr ’25€143.75
€144.83
+0.8%
8.1%€166.86€131.63n/a17
Mar ’25€136.95
€142.49
+4.0%
8.3%€166.10€124.58n/a17
Feb ’25€126.60
€138.93
+9.7%
8.9%€166.19€119.11n/a17
Jan ’25€128.80
€127.19
-1.2%
12.2%€155.71€107.73n/a16
Dec ’24€117.35
€121.05
+3.2%
10.0%€147.01€101.07n/a16
Nov ’24€106.25
€122.31
+15.1%
10.9%€151.18€103.94€155.5016
Oct ’24€102.95
€124.36
+20.8%
10.6%€149.74€102.95€151.2516
Sep ’24€106.30
€121.30
+14.1%
11.6%€146.96€97.36€149.8016
Aug ’24€113.80
€119.43
+5.0%
10.8%€144.77€95.91€141.5017
Jul ’24€105.05
€121.22
+15.4%
11.5%€147.78€97.90€136.6516
Jun ’24€96.74
€122.37
+26.5%
11.3%€149.39€98.97€138.0017
May ’24€99.74
€120.13
+20.4%
9.5%€144.88€100.51€134.4518
Apr ’24€101.14
€123.27
+21.9%
9.5%€148.54€103.05€143.7518
Mar ’24€112.28
€124.52
+10.9%
9.1%€150.06€103.17€136.9517
Feb ’24€116.74
€118.54
+1.5%
10.9%€147.36€95.78€126.6017
Jan ’24€109.30
€119.34
+9.2%
12.2%€150.70€92.31€128.8017
Dec ’23€114.68
€120.20
+4.8%
13.4%€154.80€94.82€117.3517
Nov ’23€115.06
€124.29
+8.0%
15.2%€161.98€99.22€106.2517

Analyst Forecast: Target price is lower than the current share price.

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