WallStSmart

Agree Realty Corporation (ADC)vsSimon Property Group Inc (SPG)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Simon Property Group Inc generates 790% more annual revenue ($6.94B vs $779.62M). SPG leads profitability with a 66.6% profit margin vs 28.8%. ADC appears more attractively valued with a PEG of 0.13. ADC earns a higher WallStSmart Score of 64/100 (C+).

ADC

Buy

64

out of 100

Grade: C+

Growth: 6.7Profit: 7.0Value: 8.0Quality: 4.0
Piotroski: 3/9Altman Z: 1.16

SPG

Buy

57

out of 100

Grade: C

Growth: 5.3Profit: 9.0Value: 4.0Quality: 3.5
Piotroski: 4/9Altman Z: 0.36
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ADCUndervalued (+79.2%)

Margin of Safety

+79.2%

Fair Value

$369.40

Current Price

$68.05

$301.35 discount

UndervaluedFair: $369.40Overvalued
SPGSignificantly Overvalued (-20.6%)

Margin of Safety

-20.6%

Fair Value

$161.47

Current Price

$205.32

$43.85 premium

UndervaluedFair: $161.47Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ADC5 strengths · Avg: 9.4/10
PEG RatioValuation
0.1310/10

Growing faster than its price suggests

Price/BookValuation
1.3x10/10

Reasonable price relative to book value

Operating MarginProfitability
48.1%10/10

Strong operational efficiency at 48.1%

Profit MarginProfitability
28.8%9/10

Keeps 29 of every $100 in revenue as profit

Revenue GrowthGrowth
16.8%8/10

16.8% revenue growth

SPG6 strengths · Avg: 9.2/10
Return on EquityProfitability
103.9%10/10

Every $100 of equity generates 104 in profit

Profit MarginProfitability
66.6%10/10

Keeps 67 of every $100 in revenue as profit

Operating MarginProfitability
46.0%10/10

Strong operational efficiency at 46.0%

Market CapQuality
$77.76B9/10

Large-cap with strong market position

P/E RatioValuation
14.5x8/10

Attractively priced relative to earnings

Revenue GrowthGrowth
19.5%8/10

19.5% revenue growth

Areas to Watch

ADC4 concerns · Avg: 3.5/10
P/E RatioValuation
39.1x4/10

Premium valuation, high expectations priced in

EPS GrowthGrowth
2.1%4/10

2.1% earnings growth

Return on EquityProfitability
3.5%3/10

ROE of 3.5% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

SPG4 concerns · Avg: 2.5/10
Price/BookValuation
15.1x4/10

Trading at 15.1x book value

PEG RatioValuation
8.742/10

Expensive relative to growth rate

EPS GrowthGrowth
-12.5%2/10

Earnings declined 12.5%

Altman Z-ScoreHealth
0.362/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : ADC

The strongest argument for ADC centers on PEG Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 28.8% and operating margin at 48.1%. Revenue growth of 16.8% demonstrates continued momentum.

Bull Case : SPG

The strongest argument for SPG centers on Return on Equity, Profit Margin, Operating Margin. Profitability is solid with margins at 66.6% and operating margin at 46.0%. Revenue growth of 19.5% demonstrates continued momentum.

Bear Case : ADC

The primary concerns for ADC are P/E Ratio, EPS Growth, Return on Equity.

Bear Case : SPG

The primary concerns for SPG are Price/Book, PEG Ratio, EPS Growth. Debt-to-equity of 6.64 is elevated, increasing financial risk.

Key Dynamics to Monitor

SPG carries more volatility with a beta of 1.31 — expect wider price swings.

SPG is growing revenue faster at 19.5% — sustainability is the question.

SPG generates stronger free cash flow (959M), providing more financial flexibility.

Monitor REIT - RETAIL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ADC scores higher overall (64/100 vs 57/100), backed by strong 28.8% margins and 16.8% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Agree Realty Corporation

REAL ESTATE · REIT - RETAIL · USA

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of net leased properties to industry leading retail tenants.

Simon Property Group Inc

REAL ESTATE · REIT - RETAIL · USA

Simon Property Group, Inc. is a real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana.

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