Howard Hughes Holdings Inc. (HHH) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HHH SEC filings page.
Howard Hughes Holdings Inc. (HHH) reported $2.4B in revenue over the twelve months to Jun 30, 2026, up 34.0% from the prior twelve months. This page shows its 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).
FY2025 cash generation strengthened even as margins compressed, with balance-sheet improvement coming more from equity growth than debt reduction.
Cash conversion diverged sharply from reported profitability: net income was$124M while operating cash flow reached$462M . That gap, alongside free cash flow of$418M , makes earnings quality unusually dependent on cash-flow interpretation in FY2025.
Revenue fell
Leverage improved on the reported balance sheet: debt/equity moved from 1.8x in FY2023 to 1.4x in FY2025, while long-term debt was essentially flat. Equity rose
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Howard Hughes Holdings Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
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 86/100, 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 88/100.
Howard Hughes Holdings Inc. has elevated debt relative to equity (D/E of 1.35), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 7/100, reflecting increased financial risk.
Not available for Howard Hughes Holdings Inc., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Howard Hughes Holdings Inc. converts 28.3% of revenue into free cash flow ($417.6M). This strong cash generation earns a score of 75/100.
Not available for Howard Hughes Holdings Inc., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Howard Hughes Holdings 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, the one computable operating efficiency signal (asset turnover improving) does not pass.
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 $1.95 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 $1.1B in revenue in Q2 2026. This represents an increase of 330.2% from the same quarter a year earlier. Against the prior quarter it is up 375.7%.
Howard Hughes Holdings Inc.'s EBITDA was $296.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 164.0% from the same quarter a year earlier. Against the prior quarter it is up 198.2%.
Howard Hughes Holdings Inc. reported $158.4M in net income in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 1825.2%.
Howard Hughes Holdings Inc. earned $2.68 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 1814.3%.
Cash & Balance Sheet
Howard Hughes Holdings Inc. generated $498.3M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 193.6% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Howard Hughes Holdings Inc. held $2.6B in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Margins & Returns
Howard Hughes Holdings Inc.'s operating margin was 21.3% in Q2 2026, reflecting core business profitability. This is down 4.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.
Howard Hughes Holdings Inc.'s net profit margin was 14.1% in Q2 2026, showing the share of revenue converted to profit. This is up 18.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.6 percentage points.
Howard Hughes Holdings Inc.'s quarterly ROE was 4.0% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 4.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.8 percentage points.
Not reported for Q2 2026.
Capital Allocation
Howard Hughes Holdings Inc. invested $8.2M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 9.0% from the same quarter a year earlier. Against the prior quarter it is down 44.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
HHH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B+330.2% | $235.9M+18.4% | $624.4M-36.5% | $390.2M+19.3% | $260.9M-8.0% | $199.3M+27.4% | $983.6M+214.3% | $327.1M+43.2% |
| SG&A Expenses | $36.1M+4.6% | $25.8M+14.8% | $37.0M | $28.3M+13.8% | $34.6M+54.6% | $22.4M+3.3% | N/A | $24.9M+15.1% |
| Operating Income | $239.6M+253.1% | $50.7M+5.7% | $26.2M-90.0% | $189.6M-4.4% | $67.9M-23.3% | $47.9M+280.2% | $260.5M+147.8% | $198.3M+234.0% |
| EBITDA | $296.2M+164.0% | $99.3M+6.7% | $73.5M-75.9% | $236.0M-2.7% | $112.2M-16.9% | $93.1M+63.9% | $305.5M+101.5% | $242.4M+137.5% |
| Interest Expense | $45.8M+4.8% | $41.8M+1.7% | $41.3M | $43.9M+0.1% | $43.7M+10.3% | $41.1M+4.9% | N/A | $43.8M+11.4% |
| Income Tax | $50.0Mn/m | $2.6M-23.8% | -$897K | $38.9M+281.5% | -$3.8M-128.2% | $3.4Mn/m | N/A | $10.2M-10.6% |
| Net Income | $158.4Mn/m | $8.2M-21.9% | $6.0M-96.2% | $119.5M+64.2% | -$12.1M-157.6% | $10.5Mn/m | $156.3M+355.8% | $72.8Mn/m |
| EPS (Basic) | $2.68n/m | $0.14-33.3% | $0.06 | $2.03+39.0% | -$0.22-152.4% | $0.21n/m | $3.15+356.5% | $1.46n/m |
| EPS (Diluted) | $2.68n/m | $0.14-33.3% | $0.06 | $2.02+38.4% | -$0.22-152.4% | $0.21n/m | $3.12+352.2% | $1.46n/m |
| Diluted Shares (Avg) | 59M+6.9% | 59M+18.2% | N/A | 59M+18.8% | 55M+11.3% | 50M+0.7% | N/A | 50M+0.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
HHH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.9B+54.5% | $11.2B+21.1% | $10.6B+15.5% | $10.7B+13.3% | $10.3B+4.0% | $9.3B-3.6% | $9.2B-3.8% | $9.4B+0.7% |
| Cash & Equivalents | $2.6B+83.8% | $1.8B+271.9% | $1.5B+146.4% | $1.5B+263.6% | $1.4B+232.5% | $493.7M+7.1% | $596.1M-5.3% | $400.7M-17.3% |
| Short-Term Investments | $27.8M | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $940.4M+674.3% | $131.6M+9.2% | $134.1M+27.5% | $125.0M+23.4% | $121.5M+10.7% | $120.5M+8.5% | $105.2M+3.8% | $101.3M-7.0% |
| Goodwill | $282.2M | N/A | $2.3Mn/m | N/A | N/A | N/A | $0 | N/A |
| Total Liabilities | $10.9B+65.2% | $7.4B+15.0% | $6.8B+6.7% | $6.9B+1.5% | $6.6B-4.1% | $6.4B-2.9% | $6.4B-2.3% | $6.8B+6.6% |
| Long-Term Debt | N/A | N/A | $5.1B-0.3% | N/A | N/A | N/A | $5.1B-3.3% | N/A |
| Total Equity | $4.0B+8.7% | $3.8B+35.7% | $3.8B+36.0% | $3.8B+44.1% | $3.6B+22.7% | $2.8B-5.4% | $2.8B-7.2% | $2.6B-11.8% |
| Retained Earnings | $104.5Mn/m | -$53.9Mn/m | -$62.1Mn/m | -$68.1Mn/m | -$187.6Mn/m | -$175.5Mn/m | -$186.0Mn/m | -$342.3Mn/m |
Not reported in any period shown, so not listed: Current Assets, Inventory, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
HHH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $506.5M+185.7% | -$229.4Mn/m | $360.3M+6.9% | $149.8M-39.7% | $177.3Mn/m | -$224.9Mn/m | $337.1M+232.9% | $248.3Mn/m |
| Depreciation & Amortization | $56.6M+27.7% | $48.6M+7.8% | $47.4M+5.4% | $46.4M+5.2% | $44.3M-4.8% | $45.1M+2.2% | $45.0M-3.3% | $44.1M+3.3% |
| Stock-Based Compensation | N/A | $4.1M-5.0% | N/A | N/A | N/A | $4.3M-7.9% | N/A | N/A |
| Capital Expenditures | $8.2M+9.0% | $14.8M+9.8% | $11.7M-41.5% | $12.0M+1.0% | $7.5M+5.4% | $13.5M+51.4% | $20.0M+115.3% | $11.9M+283.1% |
| Free Cash Flow | $498.3M+193.6% | -$244.2Mn/m | $348.6M+9.9% | $137.7M-41.7% | $169.7Mn/m | -$238.4Mn/m | $317.1M+244.8% | $236.4Mn/m |
| Investing Cash Flow | -$314.3Mn/m | -$43.2Mn/m | -$57.0Mn/m | -$39.4Mn/m | -$59.1Mn/m | -$63.6Mn/m | -$54.5Mn/m | -$78.1Mn/m |
| Financing Cash Flow | $683.8M-18.8% | $664.7M+419.0% | -$179.9Mn/m | $64.6Mn/m | $842.6M+568.6% | $128.1M+53.1% | -$204.8M-308.1% | -$155.2M-160.7% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
HHH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 21.3%-4.7pp | 21.5%-2.6pp | 4.2%-22.3pp | 48.6%-12.0pp | 26.0%-5.2pp | 24.1%+16.0pp | 26.5%-7.1pp | 60.6%+34.6pp |
| Net Margin | 14.1%+18.8pp | 3.5%-1.8pp | 1.0%-14.9pp | 30.6%+8.4pp | -4.7%-12.1pp | 5.3%+38.8pp | 15.9%+4.9pp | 22.2% |
| Return on Equity | 4.0%+4.3pp | 0.2%-0.2pp | 0.2%-5.5pp | 3.2%+0.4pp | -0.3%-1.0pp | 0.4%+2.2pp | 5.6%+4.5pp | 2.8%+21.1pp |
| Return on Assets | 1.0%+1.1pp | 0.1%0.0pp | 0.1%-1.6pp | 1.1%+0.3pp | -0.1%-0.3pp | 0.1%+0.7pp | 1.7%+1.3pp | 0.8%+6.6pp |
| Debt-to-Equity | N/A | N/A | 1.35-0.5x | N/A | N/A | N/A | 1.85+0.1x | N/A |
| Liabilities-to-Equity | 2.75+0.9x | 1.96-0.4x | 1.80-0.5x | 1.82-0.8x | 1.81-0.5x | 2.31+0.1x | 2.29+0.1x | 2.58+0.4x |
| Asset Turnover | 0.070.0x | 0.020.0x | 0.060.0x | 0.040.0x | 0.030.0x | 0.020.0x | 0.11+0.1x | 0.030.0x |
| FCF Margin | 44.4%-20.7pp | -103.5% | 55.8%+23.6pp | 35.3%-37.0pp | 65.1%+73.8pp | -119.6% | 32.2%+2.9pp | 72.3%+121.5pp |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Howard Hughes Holdings Inc. HHH | FY2025 | $1.5B | $123.9M | 8.4% | $4.2B | 64/100 |
| Corporacion Inmobiliaria Vesta, S.A.B de C.V. VTMX | FY2025 | $283.2M | $241.9M | 85.4% | $3.4B | 82/100 |
| CENTURY COMMUNITIES, INC. CCS | FY2025 | $4.1B | $147.6M | 3.6% | $1.6B | 53/100 |
| Newmark Group, Inc. NMRK | FY2025 | $3.3B | $126.2M | 3.8% | $2.1B | 64/100 |
| Compass, Inc. COMP | FY2025 | $7.0B | -$58.5M | -0.8% | $7.5B | 38/100 |
| Five Point Holdings, LLC FPH | FY2025 | $110.0M | $71.0M | 64.5% | $302.2M | 63/100 |
Where Howard Hughes Holdings Inc. Ranks
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 $292.1M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $123.9M, 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 free cash flow?
Howard Hughes Holdings Inc. (HHH) generated $417.6M in free cash flow during fiscal year 2025. This represents a 19.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
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 are Howard Hughes Holdings Inc.'s capital expenditures?
Howard Hughes Holdings Inc. (HHH) invested $44.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
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. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Howard Hughes Holdings Inc.'s liabilities-to-equity ratio?
Howard Hughes Holdings Inc. (HHH) had a liabilities-to-equity ratio of 1.80 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-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 P/E ratio?
Howard Hughes Holdings Inc. (HHH) trades at 14.4x earnings, its market capitalization divided by $292.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $4.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Howard Hughes Holdings Inc.'s price-to-sales ratio?
Howard Hughes Holdings Inc. (HHH) trades at 1.8x sales, its market capitalization divided by $2.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Howard Hughes Holdings Inc.'s Piotroski F-Score?
Howard Hughes Holdings Inc. (HHH) 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 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 1.95x, 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 64 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Howard Hughes Holdings Inc. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.