Howard Hughes Holdings Inc. Financials
This page shows Howard Hughes Holdings Inc. (HHH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Howard Hughes Holdings Inc. has an operating margin of 22.5%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is down from 32.0% the prior year.
Howard Hughes Holdings Inc.'s revenue declined 15.8% year-over-year, from $1.8B to $1.5B. This contraction results in a growth score of 7/100.
Howard Hughes Holdings Inc. carries a low D/E ratio of 1.35, meaning only $1.35 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.
Howard Hughes Holdings Inc. generates a 3.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is down from 7.1% the prior year.
Howard Hughes Holdings Inc. passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Howard Hughes Holdings Inc. generates $3.73 in operating cash flow ($462.4M OCF vs $123.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Howard Hughes Holdings Inc. earns $2.0 in operating income for every $1 of interest expense ($331.5M vs $169.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Howard Hughes Holdings Inc. generated $1.5B in revenue in fiscal year 2025. This represents a decrease of 15.8% from the prior year.
Howard Hughes Holdings Inc.'s EBITDA was $514.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.4% from the prior year.
Howard Hughes Holdings Inc. reported $123.9M in net income in fiscal year 2025. This represents a decrease of 37.3% from the prior year.
Howard Hughes Holdings Inc. earned $2.21 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 44.2% from the prior year.
Cash & Balance Sheet
Howard Hughes Holdings Inc. held $1.5B in cash against $5.1B in long-term debt as of fiscal year 2025.
Howard Hughes Holdings Inc. had 60M shares outstanding in fiscal year 2025. This represents an increase of 19.0% from the prior year.
Margins & Returns
Howard Hughes Holdings Inc.'s operating margin was 22.5% in fiscal year 2025, reflecting core business profitability. This is down 9.5 percentage points from the prior year.
Howard Hughes Holdings Inc.'s net profit margin was 8.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.9 percentage points from the prior year.
Howard Hughes Holdings Inc.'s ROE was 3.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.8 percentage points from the prior year.
Capital Allocation
HHH Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $624.4M+60.0% | $390.2M+49.6% | $260.9M+30.9% | $199.3M-79.7% | $983.6M+200.7% | $327.1M+15.4% | $283.5M+81.1% | $156.5M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $37.0M+30.7% | $28.3M-18.1% | $34.6M+54.0% | $22.4M | N/A | $24.9M+11.2% | $22.4M+3.0% | $21.7M |
| Operating Income | $26.2M-86.2% | $189.6M+179.4% | $67.9M+41.6% | $47.9M-81.6% | $260.5M+31.3% | $198.3M+124.2% | $88.5M+601.6% | $12.6M |
| Interest Expense | $41.3M-5.9% | $43.9M+0.4% | $43.7M+6.3% | $41.1M | N/A | $43.8M+10.6% | $39.6M-5.5% | $41.9M |
| Income Tax | -$897K-102.3% | $38.9M+1118.0% | -$3.8M-211.2% | $3.4M | N/A | $10.2M-24.7% | $13.5M+308.3% | -$6.5M |
| Net Income | $6.0M-95.0% | $119.5M+1084.1% | -$12.1M-215.3% | $10.5M-93.3% | $156.3M+114.8% | $72.8M+245.0% | $21.1M+140.2% | -$52.5M |
| EPS (Diluted) | N/A | $2.02+1018.2% | $-0.22-204.8% | $0.21-93.3% | $3.12+113.7% | $1.46+247.6% | $0.42+139.6% | $-1.06 |
HHH Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.6B-0.5% | $10.7B+3.9% | $10.3B+10.9% | $9.3B+0.8% | $9.2B-2.4% | $9.4B-4.7% | $9.9B+2.8% | $9.6B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $1.5B+0.8% | $1.5B+1.1% | $1.4B+191.9% | $493.7M-17.2% | $596.1M+48.8% | $400.7M-7.5% | $433.4M-5.9% | $460.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $134.1M+7.3% | $125.0M+2.9% | $121.5M+0.8% | $120.5M+14.6% | $105.2M+3.9% | $101.3M-7.7% | $109.7M-1.3% | $111.1M |
| Goodwill | $2.3M | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Total Liabilities | $6.8B-0.9% | $6.9B+4.2% | $6.6B+2.4% | $6.4B+1.0% | $6.4B-5.8% | $6.8B-1.6% | $6.9B+3.7% | $6.6B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $5.1B | N/A | N/A | N/A | $5.1B | N/A | N/A | N/A |
| Total Equity | $3.8B+0.2% | $3.8B+3.4% | $3.6B+30.7% | $2.8B+0.4% | $2.8B+6.2% | $2.6B-12.0% | $3.0B+0.8% | $2.9B |
| Retained Earnings | -$62.1M+8.8% | -$68.1M+63.7% | -$187.6M-6.9% | -$175.5M+5.7% | -$186.0M+45.7% | -$342.3M+17.5% | -$415.1M+4.8% | -$436.2M |
HHH Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $360.3M+140.6% | $149.8M-15.5% | $177.3M+178.8% | -$224.9M-166.7% | $337.1M+35.8% | $248.3M+1516.0% | -$17.5M+89.8% | -$171.2M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$57.0M-44.7% | -$39.4M+33.3% | -$59.1M+7.1% | -$63.6M-16.7% | -$54.5M+30.2% | -$78.1M+17.4% | -$94.6M-28.4% | -$73.6M |
| Financing Cash Flow | -$179.9M-378.5% | $64.6M-92.3% | $842.6M+557.9% | $128.1M+162.5% | -$204.8M-32.0% | -$155.2M-223.2% | $126.0M+50.7% | $83.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HHH Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 4.2%-44.4pp | 48.6%+22.6pp | 26.0%+2.0pp | 24.1%-2.4pp | 26.5%-34.1pp | 60.6%+29.4pp | 31.2%+23.1pp | 8.1% |
| Net Margin | 1.0%-29.7pp | 30.6%+35.3pp | -4.7%-9.9pp | 5.3%-10.6pp | 15.9%-6.3pp | 22.2%+14.8pp | 7.4%+41.0pp | -33.5% |
| Return on Equity | 0.2%-3.0pp | 3.2%+3.5pp | -0.3%-0.7pp | 0.4%-5.3pp | 5.6%+2.9pp | 2.8%+2.1pp | 0.7%+2.5pp | -1.8% |
| Return on Assets | 0.1%-1.1pp | 1.1%+1.2pp | -0.1%-0.2pp | 0.1%-1.6pp | 1.7%+0.9pp | 0.8%+0.6pp | 0.2%+0.8pp | -0.5% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.35-0.5 | 1.82+0.0 | 1.81-0.5 | 2.31+0.5 | 1.85-0.7 | 2.58+0.3 | 2.31+0.1 | 2.25 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Howard Hughes Holdings Inc.'s annual revenue?
Howard Hughes Holdings Inc. (HHH) reported $1.5B in total revenue for fiscal year 2025. This represents a -15.8% 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 Howard Hughes Holdings Inc.'s revenue growing?
Howard Hughes Holdings Inc. (HHH) revenue declined by 15.8% year-over-year, from $1.8B to $1.5B in fiscal year 2025.
Is Howard Hughes Holdings Inc. profitable?
Yes, Howard Hughes Holdings Inc. (HHH) reported a net income of $123.9M in fiscal year 2025, with a net profit margin of 8.4%.
What is Howard Hughes Holdings Inc.'s EBITDA?
Howard Hughes Holdings Inc. (HHH) had EBITDA of $514.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Howard Hughes Holdings Inc. have?
As of fiscal year 2025, Howard Hughes Holdings Inc. (HHH) had $1.5B in cash and equivalents against $5.1B in long-term debt.
What is Howard Hughes Holdings Inc.'s operating margin?
Howard Hughes Holdings Inc. (HHH) had an operating margin of 22.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Howard Hughes Holdings Inc.'s net profit margin?
Howard Hughes Holdings Inc. (HHH) had a net profit margin of 8.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Howard Hughes Holdings Inc.'s return on equity (ROE)?
Howard Hughes Holdings Inc. (HHH) has a return on equity of 3.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Howard Hughes Holdings Inc.'s operating cash flow?
Howard Hughes Holdings Inc. (HHH) generated $462.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Howard Hughes Holdings Inc.'s total assets?
Howard Hughes Holdings Inc. (HHH) had $10.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Howard Hughes Holdings Inc.'s debt-to-equity ratio?
Howard Hughes Holdings Inc. (HHH) had a debt-to-equity ratio of 1.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Howard Hughes Holdings Inc.'s return on assets (ROA)?
Howard Hughes Holdings Inc. (HHH) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Howard Hughes Holdings Inc.'s Piotroski F-Score?
Howard Hughes Holdings Inc. (HHH) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Howard Hughes Holdings Inc.'s earnings high quality?
Howard Hughes Holdings Inc. (HHH) has an earnings quality ratio of 3.73x, 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 Howard Hughes Holdings Inc. cover its interest payments?
Howard Hughes Holdings Inc. (HHH) has an interest coverage ratio of 2.0x, meaning it can struggle to 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.
How financially healthy is Howard Hughes Holdings Inc.?
Howard Hughes Holdings Inc. (HHH) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.