Armada Hoffler Pptys Inc (AHH) reported $209.9M in revenue for fiscal year 2025, down 51.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The dominant mechanic is property-level cash generation supporting distributions while leverage remains central to financing operations.
In the latest period, operating cash flow was$64.2M against net income of$3.9M , a 16.5x cash-to-earnings gap alongside$72.5M of depreciation and amortization; reported profit therefore understates cash produced before investment. Yet dividends of$75.2M exceeded operating cash flow, so distribution funding was not fully self-generated and positive financing cash flow of$52.5M helped bridge the difference.
Reported revenue was
The balance sheet remains debt-funded: latest debt-to-equity was 2.0x, while cash of
Financial Health Signals
We are recalculating Armada Hoffler Pptys Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Armada Hoffler Pptys Inc passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Armada Hoffler Pptys Inc generates $16.47 in operating cash flow ($64.2M OCF vs $3.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Armada Hoffler Pptys Inc earns $6.07 in operating income for every $1 of interest expense ($48.5M vs $8.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Armada Hoffler Pptys Inc generated $209.9M in revenue in fiscal year 2025. This represents a decrease of 51.5% from the prior year.
Armada Hoffler Pptys Inc's EBITDA was $121.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 5.0% from the prior year.
Armada Hoffler Pptys Inc reported $3.9M in net income in fiscal year 2025. This represents a decrease of 90.8% from the prior year.
Armada Hoffler Pptys Inc earned -$0.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 123.5% from the prior year.
Cash & Balance Sheet
Armada Hoffler Pptys Inc held $40.7M in cash against $1.3B in long-term debt as of fiscal year 2025.
Armada Hoffler Pptys Inc paid $0.56 per share in dividends in fiscal year 2025. This represents a decrease of 31.7% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Armada Hoffler Pptys Inc's operating margin was 23.1% in fiscal year 2025, reflecting core business profitability. This is up 9.4 percentage points from the prior year.
Armada Hoffler Pptys Inc's net profit margin was 1.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.0 percentage points from the prior year.
Armada Hoffler Pptys Inc's ROE was 0.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.7 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Armada Hoffler Pptys Inc repurchased no shares in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
AHH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $212.1M | $209.9M-51.5% | $433.2M+4.9% | $413.1M-12.3% | $471.1M+55.7% | $302.5M-21.1% | $383.6M+49.2% | $257.2M+33.0% | $193.3M-36.2% | $302.8M+17.2% | $258.4M+2.4% | $252.4M+50.2% | $168.1M+20.0% | $140.0M+29.1% | $108.5M-16.7% | $130.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $101.5M+37.9% | $73.6M-60.5% | $186.6M | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | $184.0M+10.1% | $167.2M+17.0% | $142.8M+22.0% | $117.1M+10.1% | $106.4M+31.2% | $81.1M-30.2% | $116.2M | N/A | N/A | $46.9M+11.5% | $42.1M+3.0% | $40.8M+0.3% | $40.7M |
| SG&A Expenses | N/A | $20.3M+5.5% | $19.3M+12.2% | $17.2M+9.6% | $15.7M+7.4% | $14.6M+13.2% | $12.9M+4.1% | $12.4M+8.4% | $11.4M+9.5% | $10.4M+9.2% | $9.6M+13.8% | $8.4M+8.9% | $7.7M+11.2% | $6.9M+114.6% | $3.2M-13.3% | $3.7M |
| Operating Income | $52.3M | $48.5M-18.0% | $59.2M-3.0% | $61.1M-54.6% | $134.4M+127.2% | $59.2M+21.4% | $48.7M+14.3% | $42.6M+33.1% | $32.0M-19.5% | $39.8M-30.4% | $57.2M+115.2% | $26.6M+24.3% | $21.4M+8.7% | $19.7M-20.4% | $24.7M+3.0% | $24.0M |
| Interest Expense | N/A | $8.0M+21.5% | $6.6M-88.6% | $57.8M+45.7% | $39.7M+17.0% | $33.9M+9.2% | $31.0M-1.0% | $31.3M+64.2% | $19.1M+9.5% | $17.4M+5.9% | $16.5M+23.5% | $13.3M+25.2% | $10.6M-13.5% | $12.3M-25.7% | $16.6M-8.7% | $18.1M |
| Income Tax | N/A | -$482K+21.5% | -$614K-146.2% | $1.3M+1016.6% | -$145K+80.5% | -$742K-162.2% | -$283K+42.4% | -$491K-1593.1% | -$29K-104.0% | $725K+111.4% | $343K+1108.8% | -$34K-148.6% | $70K-74.4% | $273K | $0 | $0 |
| Net Income | -$14.9M | $3.9M-90.8% | $42.5M+451.9% | $7.7M-92.3% | $100.0M+292.2% | $25.5M-12.5% | $29.2M+21.2% | $24.1M+39.8% | $17.2M-18.3% | $21.0M-25.0% | $28.1M+42.9% | $19.6M+155.4% | $7.7M+4.8% | $7.3M-17.5% | $8.9M+292.6% | $2.3M |
| EPS (Diluted) | -$0.34 | -$0.08-123.5% | $0.34+780.0% | -$0.05-105.3% | $0.94+452.9% | $0.17 | $0.38-7.3% | $0.41 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
AHH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.6B+3.3% | $2.5B-2.0% | $2.6B+14.3% | $2.2B+15.7% | $1.9B+1.1% | $1.9B+6.2% | $1.8B+42.6% | $1.3B+21.3% | $1.0B+6.2% | $982.5M+42.5% | $689.5M+17.3% | $588.0M+35.1% | $435.3M+31.2% | $331.8M | N/A |
| Cash & Equivalents | $40.7M+85.3% | $22.0M+9.8% | $20.0M-57.8% | $47.5M+34.8% | $35.2M-14.0% | $41.0M+4.5% | $39.2M+84.6% | $21.3M+6.5% | $20.0M-9.0% | $21.9M-18.7% | $27.0M+4.3% | $25.9M+37.1% | $18.9M+100.9% | $9.4M-30.1% | $13.4M |
| Accounts Receivable | $64.7M+22.5% | $52.8M+16.1% | $45.5M+16.2% | $39.2M+32.5% | $29.6M+4.7% | $28.3M+20.4% | $23.5M+23.4% | $19.0M+21.2% | $15.7M+4.2% | $15.1M-31.5% | $22.0M+7.0% | $20.5M+12.5% | $18.3M+4.9% | $17.4M | N/A |
| Total Liabilities | $1.8B+8.9% | $1.6B-7.7% | $1.8B+31.3% | $1.3B+15.5% | $1.2B-0.2% | $1.2B+0.9% | $1.1B+42.0% | $809.5M+30.0% | $622.8M-25.3% | $834.3M+30.4% | $640.0M+8.3% | $590.7M+22.6% | $481.8M+29.1% | $373.2M | N/A |
| Long-Term Debt | $1.3B-0.9% | $1.3B-7.3% | $1.4B+30.8% | $1.1B+16.4% | $917.6M-4.8% | $963.8M+1.4% | $950.5M+36.9% | $694.2M+34.2% | $517.3M-0.9% | $522.2M+38.3% | $377.6M+6.0% | $356.3M+28.3% | $277.7M-17.1% | $335.1M | N/A |
| Total Equity | $627.8M-6.4% | $670.6M+17.1% | $572.6M-11.6% | $647.5M+16.6% | $555.4M+6.1% | $523.2M+28.1% | $408.6M+49.2% | $273.9M+20.8% | $226.7M+53.0% | $148.1M+199.0% | $49.5M+1941.2% | -$2.7M+94.2% | -$46.5M-12.5% | -$41.3M | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$41.3M | N/A |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities.
AHH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $76.6M | $64.2M-42.6% | $112.0M+20.0% | $93.3M-20.1% | $116.9M+28.2% | $91.2M0.0% | $91.2M+34.6% | $67.7M+20.8% | $56.1M+9.5% | $51.2M-10.1% | $57.0M+71.3% | $33.3M+6.1% | $31.4M+41.4% | $22.2M-0.7% | $22.3M-3.7% | $23.2M |
| Investing Cash Flow | N/A | N/A | -$26.7M+88.7% | -$237.3M-613.8% | -$33.2M+42.3% | -$57.6M-119.7% | -$26.2M+91.1% | -$295.1M-22.7% | -$240.6M-152.3% | -$95.4M+57.2% | -$223.0M-284.8% | -$58.0M+45.0% | -$105.3M-119.6% | -$47.9M-919.7% | -$4.7M+21.6% | -$6.0M |
| Financing Cash Flow | N/A | $52.5M+221.5% | -$43.3M-135.4% | $122.3M+269.3% | -$72.2M-65.8% | -$43.5M+25.1% | -$58.1M-123.5% | $246.9M+33.0% | $185.6M+343.6% | $41.8M-74.1% | $161.4M+561.6% | $24.4M-69.9% | $80.9M+129.6% | $35.3M+262.7% | -$21.7M-78.1% | -$12.2M |
| Dividends Paid | $79.3M | $75.2M-10.3% | $83.9M+4.3% | $80.4M+10.8% | $72.6M+23.6% | $58.7M+23.3% | $47.6M-22.6% | $61.5M+20.8% | $50.9M+16.7% | $43.6M+28.9% | $33.8M+25.2% | $27.0M+22.3% | $22.1M+185.7% | $7.7M | N/A | N/A |
| Share Buybacks | N/A | $0 | $0-100.0% | $12.6M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
AHH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | 44.5%+9.1pp | 35.5%-11.7pp | 47.2%+16.7pp | 30.5%-10.8pp | 41.4%-0.6pp | 41.9%+3.6pp | 38.4% | N/A | N/A | 27.9%-2.1pp | 30.0%-7.6pp | 37.6%+6.4pp | 31.3% |
| Operating Margin | 23.1%+9.4pp | 13.7%-1.1pp | 14.8%-13.8pp | 28.5%+9.0pp | 19.6%+6.8pp | 12.7%-3.9pp | 16.6%0.0pp | 16.6%+3.4pp | 13.2%-9.0pp | 22.1%+11.6pp | 10.5%-2.2pp | 12.7%-1.3pp | 14.0%-8.7pp | 22.8%+4.3pp | 18.4% |
| Net Margin | 1.9%-8.0pp | 9.8%+8.0pp | 1.9%-19.4pp | 21.2%+12.8pp | 8.4%+0.8pp | 7.6%-1.8pp | 9.3%+0.5pp | 8.9%+1.9pp | 7.0%-3.9pp | 10.9%+3.1pp | 7.8%+3.2pp | 4.6%-0.7pp | 5.2%-3.0pp | 8.2%+6.5pp | 1.7% |
| Return on Equity | 0.6%-5.7pp | 6.3%+5.0pp | 1.3%-14.1pp | 15.4%+10.9pp | 4.6%-1.0pp | 5.6%-0.3pp | 5.9%-0.4pp | 6.3%-3.0pp | 9.3%-9.7pp | 18.9%-20.7pp | 39.6% | N/A | N/A | N/A | N/A |
| Return on Assets | 0.1%-1.5pp | 1.7%+1.4pp | 0.3%-4.2pp | 4.5%+3.1pp | 1.3%-0.2pp | 1.5%+0.2pp | 1.3%0.0pp | 1.4%-0.7pp | 2.0%-0.8pp | 2.9%0.0pp | 2.9%+1.5pp | 1.3%-0.4pp | 1.7%-1.0pp | 2.7% | N/A |
| Debt-to-Equity | 2.05+0.1x | 1.93-0.5x | 2.44+0.8x | 1.650.0x | 1.65-0.2x | 1.84-0.5x | 2.33-0.2x | 2.53+0.3x | 2.28-1.2x | 3.52-4.1x | 7.62 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
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Where Armada Hoffler Pptys Inc Ranks
Frequently Asked Questions
What is Armada Hoffler Pptys Inc's annual revenue?
Armada Hoffler Pptys Inc (AHH) reported $209.9M in total revenue for fiscal year 2025. This represents a -51.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Armada Hoffler Pptys Inc's revenue growing?
Armada Hoffler Pptys Inc (AHH) revenue declined by 51.5% year-over-year, from $433.2M to $209.9M in fiscal year 2025.
Is Armada Hoffler Pptys Inc profitable?
Yes, Armada Hoffler Pptys Inc (AHH) reported a net income of $3.9M in fiscal year 2025, with a net profit margin of 1.9%.
What is Armada Hoffler Pptys Inc's EBITDA?
Armada Hoffler Pptys Inc (AHH) had EBITDA of $121.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Armada Hoffler Pptys Inc have?
As of fiscal year 2025, Armada Hoffler Pptys Inc (AHH) had $40.7M in cash and equivalents against $1.3B in long-term debt.
What is Armada Hoffler Pptys Inc's operating margin?
Armada Hoffler Pptys Inc (AHH) had an operating margin of 23.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Armada Hoffler Pptys Inc's net profit margin?
Armada Hoffler Pptys Inc (AHH) had a net profit margin of 1.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Armada Hoffler Pptys Inc pay dividends?
Yes, Armada Hoffler Pptys Inc (AHH) paid $0.56 per share in dividends during fiscal year 2025.
What is Armada Hoffler Pptys Inc's return on equity (ROE)?
Armada Hoffler Pptys Inc (AHH) has a return on equity of 0.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Armada Hoffler Pptys Inc's operating cash flow?
Armada Hoffler Pptys Inc (AHH) generated $64.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Armada Hoffler Pptys Inc's total assets?
Armada Hoffler Pptys Inc (AHH) had $2.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Armada Hoffler Pptys Inc's debt-to-equity ratio?
Armada Hoffler Pptys Inc (AHH) had a debt-to-equity ratio of 2.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Armada Hoffler Pptys Inc's return on assets (ROA)?
Armada Hoffler Pptys Inc (AHH) had a return on assets of 0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Armada Hoffler Pptys Inc's Piotroski F-Score?
Armada Hoffler Pptys Inc (AHH) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Armada Hoffler Pptys Inc's earnings high quality?
Armada Hoffler Pptys Inc (AHH) has an earnings quality ratio of 16.47x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Armada Hoffler Pptys Inc cover its interest payments?
Armada Hoffler Pptys Inc (AHH) has an interest coverage ratio of 6.07x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.