Crown Castle Inc. (CCI) vs Simon Property Group, Inc. (SPG)
A side-by-side comparison of Crown Castle Inc. and Simon Property Group, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — CCI vs SPG
growth of $100 · dividends reinvested · last 10yCCI vs SPG: by the numbers
- •SPG is the larger company ($66.37B vs $31.75B market cap).
- •SPG converts more revenue to profit (66.39% vs 25.83% net margin).
- •SPG grew revenue faster over the past five years (8.17% vs -7.20% CAGR).
- •CCI pays the higher dividend yield (5.62% vs 4.35%).
Metrics side by side
Valuation
| Metric | CCI | SPG |
|---|---|---|
| P/E ratio | 29.53 | 14.47 |
| Forward P/E | 37.67 | 30.79 |
| P/S ratio | 7.63 | 9.56 |
| P/B ratio | N/A | 14.97 |
| EV / EBITDA | 20.29 | 18.93 |
| FCF yield | 7.58% | 4.90% |
For REITs like Crown Castle Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Simon Property Group, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | CCI | SPG |
|---|---|---|
| Gross margin | 63.19% | 84.58% |
| Operating margin | 47.74% | 47.40% |
| Net margin | 25.83% | 66.39% |
| ROE | N/A | 103.91% |
| ROIC | 9.63% | 8.68% |
Dividends
| Metric | CCI | SPG |
|---|---|---|
| Dividend yield | 5.62% | 4.35% |
| Payout ratio | 172.76% | 62.94% |
Crown Castle Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Simon Property Group, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | CCI | SPG |
|---|---|---|
| Revenue CAGR (5Y) | -7.20% | 8.17% |
| EPS CAGR (5Y) | -15.45% | 31.55% |
| FCF CAGR (5Y) | 7.90% | 1.52% |
| Total return CAGR (5Y) | -12.59% | 15.88% |
Frequently asked
- Which has grown faster, CCI or SPG?
- Over the past five years, SPG grew revenue faster — CCI at a -7.20% CAGR versus SPG at 8.17%.
- Does CCI or SPG pay a bigger dividend?
- CCI yields 5.62% and SPG yields 4.35% based on trailing dividends and the latest price.
- Is CCI or SPG more profitable?
- SPG runs the higher net margin — CCI at 25.83% versus SPG at 66.39%.
- How have CCI and SPG total returns compared?
- Over the past 10 years, CCI delivered 2.11% and SPG delivered 5.07% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Crown Castle & Simon Property appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.