Realty Income Corporation (O) vs Simon Property Group, Inc. (SPG)
SPG leads on 10 of 17 compared metrics.
A side-by-side comparison of Realty Income Corporation and Simon Property Group, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 13, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).
O
Realty Income Corporation
$62.72Real Estate
SPG
Simon Property Group, Inc.
$219.04Real Estate
Total return — O vs SPG
growth of $100 · last 30yO +527.8%SPG +860.7%SPG compounded faster
O SPG
O vs SPG: by the numbers
- •SPG is the larger company ($71.03B vs $58.49B market cap).
- •SPG trades at the lower earnings multiple (15.26 vs 51.41 P/E).
- •SPG converts more revenue to profit (70.40% vs 18.94% net margin).
- •O grew revenue faster over the past five years (28.65% vs 8.15% CAGR).
- •O pays the higher dividend yield (5.16% vs 4.02%).
Which is better, O or SPG?
Metric tally: O 7 · SPG 10It depends on what you're optimizing for:
ValueSPG(lower P/E)
GrowthO(faster 5Y revenue CAGR)
IncomeO(higher dividend yield)
QualityO(higher ROIC)
Valuation
| Metric | O | SPG |
|---|---|---|
| P/E ratio | 51.41 | 15.26● |
| Forward P/E | 34.95 | 31.77● |
| P/S ratio | 9.59● | 10.68 |
| P/B ratio | 1.45● | 14.61 |
| PEG ratio | 2.49 | 0.14● |
| EV / EBITDA | 20.72 | 12.90● |
| FCF yield | 7.15%● | 4.60% |
Profitability
| Metric | O | SPG |
|---|---|---|
| Gross margin | 68.62% | 85.24%● |
| Operating margin | 29.27% | 48.28%● |
| Net margin | 18.94% | 70.40%● |
| ROE | 2.86% | 96.34%● |
| ROIC | 24.52%● | 8.55% |
Dividends
| Metric | O | SPG |
|---|---|---|
| Dividend yield | 5.16%● | 4.02% |
| Payout ratio | 276.67% | 62.23% |
Growth (annualized)
| Metric | O | SPG |
|---|---|---|
| Revenue CAGR (5Y) | 28.65%● | 8.15% |
| EPS CAGR (5Y) | 0.35% | 31.55%● |
| FCF CAGR (5Y) | 29.59%● | 9.48% |
| Total return CAGR (5Y) | 3.50% | 16.57%● |
Frequently asked
- Which is better, O or SPG?
- It depends on your goal. value: SPG (lower P/E); growth: O (faster 5Y revenue CAGR); income: O (higher dividend yield); quality: O (higher ROIC). Across all compared metrics, SPG leads 10 to 7.
- Is O or SPG cheaper?
- On trailing earnings, SPG is cheaper: O trades at a 51.41 P/E and SPG at 15.26.
- Which has grown faster, O or SPG?
- Over the past five years, O grew revenue faster — O at a 28.65% CAGR versus SPG at 8.15%.
- Does O or SPG pay a bigger dividend?
- O yields 5.16% and SPG yields 4.02% based on trailing dividends and the latest price.
- Is O or SPG more profitable?
- SPG runs the higher net margin — O at 18.94% versus SPG at 70.40%.
- Which has been the better investment, O or SPG?
- Over the past 10-year, SPG delivered the higher annualized total return — O at 4.90% versus SPG at 6.24%. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Realty Income P/E ratioSimon Property P/E ratioRealty Income dividend yieldSimon Property dividend yieldRealty Income ROESimon Property ROERealty Income operating marginSimon Property operating marginRealty Income revenue growthSimon Property revenue growthRealty Income free cash flowSimon Property free cash flow
Realty Income & 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 June 13, 2026.