BROOKFIELD CORPORATION vs SIMON PROPERTY GROUP, INC., two REIT stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The number that separates these is leverage-driven return: Simon Property's 89.8% return on equity is a leveraged, gain-flattered figure on a thin equity base, not repeatable operations, while Brookfield's 1.95% is a mark-timing artifact on a diversified asset pool. Both reported figures mislead in opposite directions. Simon is a focused mall REIT carrying 4.65 turns of debt and paying a 3.77% dividend on strong current mall cash flows; Brookfield a diversified compounder at 0 shown leverage paying none listed. Simon trades at 15.8 GAAP earnings, Brookfield at 84. The pair prices a leveraged mall REIT against a diversified asset manager; Simon's retail portfolio yields strongly now but carries real leverage, Brookfield compounds deployed capital, and both reported returns should be read with heavy skepticism.
Comparison updated 2026-07-11.
| Metric | BN | SPG |
|---|---|---|
| Price | $42.87 | $226.89 |
| Market cap | $96.3B | $73.7B |
| Sector | REIT | REIT |
| Stage | Mature | Mature |
| P/E | 84.1 | 15.8 |
| P/B | 0.58 | 12.14 |
| P/S | 1.28 | 11.09 |
| EV/EBITDA | 7.7 | 21.3 |
| Revenue growth | +0.7% | +10.9% |
| Operating margin | — | 43.4% |
| Net margin | 4.3% | 82.0% |
| Return on equity | 1.9% | 89.8% |
| Return on assets | 0.6% | 13.8% |
| Return on invested capital | — | 7.4% |
| FCF yield | -3.9% | 4.4% |
| Dividend yield | — | 3.8% |
| Debt / equity | 0.00 | 4.65 |
| Altman Z (solvency) | 0.31 | 1.39 |
| Piotroski F (quality) | 8 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.