Regency Centers vs Simon Property Group
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put Regency Centers and Simon Property Group side by side, using each one’s latest annual report. Here is what stands out:
- Simon Property Group is the larger business, with $6.4B of revenue in fiscal 2025 against $1.6B for Regency Centers, about 4.1 times as much.
- Regency Centers kept more of each dollar of sales as operating profit (72.3% operating margin, against 49.9%).
- Simon Property Group turned more of its sales into free cash flow (50.3% FCF margin, against 25.3%).
- Simon Property Group earned a higher return on the capital invested in it (10.5%, against 7.7%).
- Investors pay more for each dollar of Regency Centers’s earnings: a P/E of 25.4x against 15.0x for Simon Property Group.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Regency Centers
REG
4/8
Revenue growth5-year growthOperating marginNet debt / EBITDA
Simon Property Group
SPG
4/8
Net marginFCF marginReturn on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | REG FY25 | SPG FY25 |
|---|---|---|
| Size | ||
| Market cap | — | $68.9B |
| Revenue | $1.6B | $6.4B |
| Free cash flow | $393M | $3.2B |
| Net income | $528M | $5.4B |
| Growth | ||
| Revenue growth | 6.9% | 6.7% |
| 5-year growth | 8.9% | 6.7% |
| Share count change | — | 0.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 72.3% | 49.9% |
| Net margin | 34.0% | 84.3% |
| FCF margin | 25.3% | 50.3% |
| Return on capital | 7.7% | 10.5% |
| Return on equity | 7.7% | 131.6% |
| Balance sheet | ||
| Net debt | $4.6B | $27.6B |
| Net debt / EBITDA | 3.0x | 6.0x |
| Dividends and buybacks | $512M | $227M |
| Valuation & quality | ||
| P/E | 25.4x | 15.0x |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.