SPG · Simon Property Group, Inc.

$226.892026-07-21

Sector: Real Estate; Industry: REIT - Retail; Sub-Industry: Retail REITs

Intrinsic Value Range Comparison · Mulya.ai

Very High Uncertainty

Bull

$88

-61.2% vs market

Base · active

$33

-85.3% vs market

Bear

$20

-91.2% vs market

Mulya.ai vs Analyst IV Comparison?

Bear $20

Base $33

Bull $88

Median $208

Market $227

Market Price $227

Mulya.ai Base $33

Analysts Median $208

Mulya.ai IV range ($20 · $88)

Analysts Range ($192 · $230)

Fundamentals · historical + forward · base

italics = DCF projection

Period	Revenue	Rev Gr ?	Ops M% ?	Tax Rate ?	NOPAT ?	Reinvest ?	FCFF ?	WACC% ?	PV FCFF ?	ROIC ?	Inv. Cap ?	EPS ?	P/E
2024.Q1	$5.7B	—	49.6%	4.6%	$2.7B	$648MM	$3.3B	10.1%	—	10.3%	$26.1B	$7.05	—
2024.Q4	$5.7B	0.0%	49.6%	0.8%	$2.8B	$363MM	$3.1B	10.9%	—	10.7%	$25.7B	$7.05	—
2025.Q1	$6.0B	5.4%	51.9%	0.0%	$3.1B	−$101MM	$3.0B	10.9%	—	12.1%	$26.0B	$7.32	—
2025.Q4	$6.0B	0.0%	51.9%	0.7%	$3.1B	$562MM	$3.6B	11.1%	—	10.5%	$32.8B	$7.32	—
2026.Q1	$6.6B	11.5%	48.3%	0.4%	$3.2B	$993MM	$4.2B	10.7%	—	9.8%	$32.6B	$14.45	22.9
italics below = DCF projection · 10yr Rev CAGR: 8.3%
2027.Q1	$6.7B	+0.8%	55.0%	2.4%	$3.6B	−$182MM	$3.4B	9.7%	$3.1B	11.0%	$32.7B	$11.10	20.4
2028.Q1	$6.9B	+3.0%	56.5%	4.3%	$3.7B	−$678MM	$3.1B	9.6%	$2.5B	11.3%	$33.4B	$11.52	19.7
2029.Q1	$7.1B	+3.2%	56.9%	6.3%	$3.8B	−$741MM	$3.1B	9.5%	$2.3B	11.2%	$34.2B	$11.72	19.4
2030.Q1	$7.8B	+8.9%	51.1%	8.3%	$3.6B	−$2.1B	$1.5B	9.4%	$1.1B	10.3%	$36.3B	$11.24	20.2
2031.Q1	$9.2B	+18.6%	51.1%	10.2%	$4.2B	−$4.8B	−$573MM	9.3%	−$364MM	10.9%	$41.1B	$13.05	17.4

Term. Yr+	$15.3B	4.1%	44.8%	20.0%	$5.5B	−$2.6B	$2.9B	8.6%	$26.4B	8.6%	—	—	—

Active scenario IV: $33 (-85.3% vs market)