The Filing Desk

Regency Centers vs Simon Property Group

Regency Centers REG · Simon Property Group SPG · Retail REITs

Simon Property Group reported revenue of $6.4 billion in fiscal 2025, 4.1 times Regency Centers' $1.6 billion in fiscal 2025. Regency Centers' revenue grew 6.8% in its latest year, and Simon Property Group's grew 6.7%. Regency Centers had an operating margin of 72.3%, against 49.9% at Simon Property Group. Free cash flow was $393 million at Regency Centers and $3.2 billion at Simon Property Group.

Side by side

Regency CentersSimon Property Group
Latest fiscal yearFY2025, Dec 31, 2025FY2025, Dec 31, 2025
Revenue$1.6B$6.4B
Revenue growth6.8%6.7%
Revenue growth a year, last 5 years8.9%6.7%
Gross margin——
Operating margin72.3%49.9%
Net margin34.0%84.3%
Free cash flow$393M$3.2B
Free cash flow margin25.3%50.3%
Return on capital7.7%10.5%
Net debt to EBITDA3.0x6.0x
Dividends and buybacks$512M$227M
Change in diluted share count—0.1%
Last close$73.67$212.69
P/E at the last close25.3×15.0×
Insider trades, last 12 monthssold $40.9 millionbought $2.0 million, sold $2.0 million
Piotroski F-score——
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.

Ten years

Revenue
US$ billions, fiscal years
Regency CentersSimon Property Group
Operating margin
Percent of revenue
Regency CentersSimon Property Group
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Regency CentersSimon Property Group

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Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Regency Centers and Simon Property Group pages.