Federal Realty Investment Trust (FRT) vs Simon Property Group, Inc. (SPG)

Federal Realty Investment Trust and Simon Property Group, Inc. are both Reit Retail companies. Simon Property Group, Inc. is the larger, with a market value of $71.7B against $9.7B — 7.4× the size. Simon Property Group, Inc. trades at the lower P/E: 14.4× against 22.2×. Simon Property Group, Inc. grew revenue faster over the last twelve months: 15.0% against 8.04%. Simon Property Group, Inc. has the higher net margin (66.5% vs 32.0%) and the higher return on invested capital (6.18% vs 4.93%). Both pay a dividend; Simon Property Group, Inc. yields more (5.40% vs 4.26%). Across the 23 metrics below, Simon Property Group, Inc. leads on 14 and Federal Realty Investment Trust on 9.

Valuation

Metric FRT SPG Reit Retail median
P/E 22.24 14.44 24.82
P/S 7.13 9.56 6.69
P/B 2.91 11.99 1.75
Price to free cash flow 28.94 20.63 13.29
EV/EBITDA 13.78 18.26 15.42
EV/Sales 10.63 13.55 10.60
Earnings yield 4.50% 6.92% 3.91%
Free cash flow yield 3.46% 4.85% 2.98%

Profitability

Metric FRT SPG Reit Retail median
Gross margin 67.53% 81.43% 71.78%
Operating margin 47.86% 47.40% 34.62%
Net margin 31.97% 66.52% 27.14%
Free cash flow margin 24.65% 46.36% 18.82%
Return on equity 13.27% 110.70% 7.05%
Return on assets 4.83% 12.65% 3.40%
Return on invested capital 4.93% 6.18% 3.18%

Growth

Metric FRT SPG Reit Retail median
Revenue growth (TTM) 8.04% 15.02% 8.49%
EPS growth (last fiscal year) 36.84% 95.18% —
Revenue growth, 5-year CAGR 8.89% 6.67% 8.62%
Net income growth, 5-year CAGR 26.57% 33.05% 1.85%

Health

Metric FRT SPG Reit Retail median
Debt to equity 1.39 5.15 0.94
Current ratio 1.70 1.05 1.62
Net debt to EBITDA 5.00 5.84 5.40

Dividend

Metric FRT SPG Reit Retail median
Dividend yield 4.26% 5.40% 4.57%
Payout ratio 0.92 1.09 1.21

Size

Metric FRT SPG Reit Retail median
Market cap 9.65b 71.72b 3.65b

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