Simon Property Group, Inc. (SPG) vs Ventas, Inc. (VTR)
A side-by-side comparison of Simon Property Group, Inc. and Ventas, 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 — SPG vs VTR
growth of $100 · dividends reinvested · last 10ySPG vs VTR: by the numbers
- •SPG is the larger company ($66.31B vs $43.26B market cap).
- •SPG converts more revenue to profit (66.39% vs 4.13% net margin).
- •VTR grew revenue faster over the past five years (11.91% vs 8.17% CAGR).
- •SPG pays the higher dividend yield (4.35% vs 2.24%).
Metrics side by side
Valuation
| Metric | SPG | VTR |
|---|---|---|
| P/E ratio | 14.46 | 164.78 |
| Forward P/E | 30.76 | 152.67 |
| P/S ratio | 9.55 | 6.72 |
| P/B ratio | 14.95 | 2.95 |
| EV / EBITDA | 18.92 | 24.45 |
| FCF yield | 4.90% | N/A |
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.
For REITs like Ventas, 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 | SPG | VTR |
|---|---|---|
| Gross margin | 84.58% | -2.58% |
| Operating margin | 47.40% | 12.94% |
| Net margin | 66.39% | 4.13% |
| ROE | 103.91% | 1.82% |
| ROIC | 8.68% | 2.81% |
Dividends
| Metric | SPG | VTR |
|---|---|---|
| Dividend yield | 4.35% | 2.24% |
| Payout ratio | 62.94% | 370.37% |
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.
Ventas, 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 | SPG | VTR |
|---|---|---|
| Revenue CAGR (5Y) | 8.17% | 11.91% |
| EPS CAGR (5Y) | 31.55% | -14.16% |
| FCF CAGR (5Y) | 1.52% | 0.22% |
| Total return CAGR (5Y) | 15.88% | 13.45% |
Frequently asked
- Which has grown faster, SPG or VTR?
- Over the past five years, VTR grew revenue faster — SPG at a 8.17% CAGR versus VTR at 11.91%.
- Does SPG or VTR pay a bigger dividend?
- SPG yields 4.35% and VTR yields 2.24% based on trailing dividends and the latest price.
- Is SPG or VTR more profitable?
- SPG runs the higher net margin — SPG at 66.39% versus VTR at 4.13%.
- How have SPG and VTR total returns compared?
- Over the past 10 years, SPG delivered 5.07% and VTR delivered 7.06% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Simon Property & Ventas 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.