What is Hovnanian Enterprises Inc's earnings per share (EPS)?

Hovnanian Enterprises Inc (HOV) reported diluted earnings per share of $7.43 for fiscal year 2025. This represents a -76.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Hovnanian Enterprises Inc Financials

HOV

FY2025 annual

Revenue $3.0B -0.9% YoY

Net Income $63.9M -73.6% YoY

EPS (Diluted) $7.43 -76.6% YoY

Free Cash Flow $166.2M +2774.6% YoY

Source SEC Filings (10-K/10-Q) Data as of Apr 30, 2026 Currency USD FYE October

Hovnanian Enterprises Inc (HOV) reported $3.0B in revenue for fiscal year 2025, down 0.9% 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).

Rhea AI HOV FY2025 2026-08-15

Hovnanian’s dominant mechanic is volatile cash conversion alongside a materially less debt-dependent balance sheet.

FY2024 earnings quality was weak: the company reported $242.0M of net income but produced only $23.6M of operating cash flow, making accounting profit a poor proxy for cash generated that year. In FY2025, cash conversion rebounded ahead of earnings, with operating cash flow reaching $188.3M while net income fell to $63.9M; cash generation therefore moves independently of reported profitability.

Balance-sheet dependence on debt declined sharply: debt-to-equity fell from 7.1x in FY2021 to 1.1x in FY2025. Equity expanded from $175M to $831M, giving a broadly similar asset base a substantially thicker capital cushion.

Profitability weakened despite stable scale: FY2025 revenue remained near $3.0B, but net margin compressed to 2.1%. That margin pressure coincided with net income falling to $63.9M from $242.0M in FY2024, showing that revenue volume alone did not protect earnings.

Financial Health Signals

Financial health score not available

Hovnanian Enterprises Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/6

Hovnanian Enterprises Inc passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.95x

For every $1 of reported earnings, Hovnanian Enterprises Inc generates $2.95 in operating cash flow ($188.3M OCF vs $63.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.0B

YoY-0.9%

5Y CAGR+4.9%

10Y CAGR+3.3%

Hovnanian Enterprises Inc generated $3.0B in revenue in fiscal year 2025. This represents a decrease of 0.9% from the prior year.

Net Income

$63.9M

YoY-73.6%

5Y CAGR+4.6%

Hovnanian Enterprises Inc reported $63.9M in net income in fiscal year 2025. This represents a decrease of 73.6% from the prior year.

EPS (Diluted)

$7.43

YoY-76.6%

5Y CAGR+1.1%

Hovnanian Enterprises Inc earned $7.43 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 76.6% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

$166.2M

YoY+2774.6%

5Y CAGR-10.5%

Hovnanian Enterprises Inc generated $166.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 2774.6% from the prior year.

Cash & Debt

Debt $900.7M

Hovnanian Enterprises Inc carried $900.7M in long-term debt as of fiscal year 2025; cash and equivalents are not reported for that period.

Dividends Per Share

Not reported for fiscal year 2025.

Shares Outstanding

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

2.1%

YoY-5.9pp

5Y CAGR0.0pp

10Y CAGR+2.9pp

Hovnanian Enterprises Inc's net profit margin was 2.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.9 percentage points from the prior year.

Return on Equity

7.7%

YoY-22.6pp

Hovnanian Enterprises Inc's ROE was 7.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 22.6 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$30.2M

YoY+14.0%

Hovnanian Enterprises Inc spent $30.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 14.0% from the prior year.

Capital Expenditures

$22.1M

YoY+23.7%

5Y CAGR+45.6%

10Y CAGR+26.8%

Hovnanian Enterprises Inc invested $22.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 23.7% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

HOV Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

HOV annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$2.9B	$3.0B-0.9%	$3.0B+9.0%	$2.8B-5.7%	$2.9B+5.0%	$2.8B+18.7%	$2.3B+16.2%	$2.0B+1.3%	$2.0B-18.8%	$2.5B-10.9%	$2.8B+28.1%	$2.1B+4.1%	$2.1B+11.5%	$1.9B+24.6%	$1.5B+30.9%	$1.1B
Interest Expense	N/A	N/A	$120.7M-10.5%	$134.9M+1.9%	$132.4M-18.2%	$161.8M-9.2%	$178.1M+10.5%	$161.1M-1.8%	$164.1M-11.4%	$185.2M+1.4%	$182.6M+21.4%	$150.4M+6.5%	$141.2M-2.0%	$144.1M-5.8%	$153.0M-11.2%	$172.2M
Income Tax	$12.5M	$22.2M-70.4%	$75.1M+50.0%	$50.1M-46.9%	$94.3M+122.6%	-$418.0M-9439.8%	$4.5M+82.7%	$2.4M-32.5%	$3.6M-98.7%	$286.9M+5360.5%	$5.3M+192.8%	-$5.7M+98.0%	-$287.0M-2965.9%	-$9.4M+73.3%	-$35.1M-537.2%	-$5.5M
Net Income	$36.5M	$63.9M-73.6%	$242.0M+17.5%	$205.9M-8.7%	$225.5M-62.9%	$607.8M+1093.5%	$50.9M+220.9%	-$42.1M-1031.8%	$4.5M+101.4%	-$332.2M-11684.1%	-$2.8M+82.5%	-$16.1M-105.2%	$307.1M+881.4%	$31.3M+147.3%	-$66.2M+76.9%	-$286.1M
EPS (Diluted)	—	$7.43-76.6%	$31.79+18.3%	$26.88-7.3%	$29.00-66.2%	$85.86+1121.3%	$7.03+199.6%	-$7.06-1080.6%	$0.72+101.3%	-$56.23	-$0.02+81.8%	-$0.11-105.9%	$1.87+750.0%	$0.22+142.3%	-$0.52+81.8%	-$2.85

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$667.6M+5.6%	$632.0M-22.7%	$817.9M+2.2%	$800.6M+16.6%	$686.5M+1.9%	$673.6M-31.2%	$979.6M+35.6%	$722.7M
Income Tax	$934K-88.1%	$7.8M+327.9%	-$3.4M-147.9%	$7.2M+5.6%	$6.8M-41.7%	$11.7M-50.4%	$23.5M-3.4%	$24.4M
Net Income	-$284K-101.4%	$20.9M+3227.3%	-$667K-104.0%	$16.6M-15.8%	$19.7M-30.0%	$28.2M-70.1%	$94.3M+29.4%	$72.9M
EPS (Diluted)	-$0.46	$2.62	N/A	$1.99-18.1%	$2.43-32.1%	$3.58	N/A	$9.75

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.

TTM is the trailing twelve months, Q3 FY2025 through Q2 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.

HOV Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

HOV annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$2.6B+1.1%	$2.6B+4.5%	$2.5B-2.7%	$2.6B+10.4%	$2.3B+27.0%	$1.8B-2.9%	$1.9B+13.2%	$1.7B-12.6%	$1.9B-19.3%	$2.4B-9.5%	$2.6B+13.6%	$2.3B+30.2%	$1.8B+4.4%	$1.7B+5.1%	$1.6B
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$469.3M+35.3%	$346.8M+36.7%	$253.7M-3.1%	$261.9M-20.4%	$329.2M+20.5%	$273.2M+9.0%	$250.7M
Total Liabilities	$1.8B-0.1%	$1.8B-5.5%	$1.9B-12.3%	$2.2B+1.6%	$2.1B-5.2%	$2.3B-4.5%	$2.4B+12.1%	$2.1B-10.4%	$2.4B-4.9%	$2.5B-9.0%	$2.7B+13.4%	$2.4B+9.8%	$2.2B+1.0%	$2.2B+3.4%	$2.1B
Long-Term Debt	$900.7M+0.5%	$896.2M-14.8%	$1.1B-8.3%	$1.1B-8.2%	$1.2B-12.8%	$1.4B-3.3%	$1.5B+2.8%	$1.4B-10.6%	$1.6B+0.2%	$1.6B-13.6%	$1.9B+11.3%	$1.7B+8.2%	$1.5B-0.9%	$1.6B	N/A
Total Equity	$830.9M+3.8%	$800.3M+37.6%	$581.7M+51.9%	$383.0M+119.0%	$174.9M+140.0%	-$436.9M+10.9%	-$490.5M-8.1%	-$453.5M+1.5%	-$460.4M-258.2%	-$128.5M-0.3%	-$128.1M-8.7%	-$117.8M+72.8%	-$432.8M+10.9%	-$485.6M+2.2%	-$496.7M
Retained Earnings	$127.3M+71.7%	$74.1M+147.2%	-$157.2M+55.4%	-$352.4M+37.9%	-$567.2M+51.7%	-$1.2B+4.2%	-$1.2B-3.6%	-$1.2B+0.4%	-$1.2B-38.8%	-$856.2M-0.3%	-$853.4M-1.9%	-$837.3M+26.8%	-$1.1B+2.7%	-$1.2B-6.0%	-$1.1B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$2.8B+3.4%	$2.7B+3.8%	$2.6B+0.2%	$2.6B+3.0%	$2.6B+0.8%	$2.5B-2.8%	$2.6B+2.6%	$2.5B
Total Liabilities	$2.0B+5.5%	$1.9B+5.2%	$1.8B+0.5%	$1.8B+3.5%	$1.7B+0.6%	$1.7B-4.6%	$1.8B-1.7%	$1.8B
Long-Term Debt	$901.9M+0.1%	$901.3M+0.1%	$900.7M+4.5%	$861.9M-0.3%	$864.3M-3.3%	$893.7M-0.3%	$896.2M-0.3%	$898.7M
Total Equity	$824.9M-1.3%	$835.7M+0.6%	$830.9M-0.5%	$835.4M+1.8%	$820.4M+1.1%	$811.4M+1.4%	$800.3M+13.8%	$703.4M
Retained Earnings	$142.6M-2.0%	$145.5M+14.3%	$127.3M-2.6%	$130.7M+11.9%	$116.7M+17.1%	$99.7M+34.4%	$74.1M+522.5%	-$17.5M

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.

HOV Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

HOV annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$295.6M	$188.3M+696.4%	$23.6M-94.6%	$435.3M+386.5%	$89.5M-57.4%	$210.2M-28.2%	$292.8M+217.5%	-$249.1M-272.8%	-$66.8M-122.2%	$301.6M-22.1%	$387.0M+220.7%	-$320.5M-68.2%	-$190.6M-2156.4%	$9.3M+113.8%	-$67.0M+67.7%	-$207.4M
Capital Expenditures	$24.2M	$22.1M+23.7%	$17.9M-5.1%	$18.8M+49.5%	$12.6M+111.9%	$5.9M+75.8%	$3.4M-15.6%	$4.0M-22.9%	$5.2M-19.8%	$6.5M-19.1%	$8.0M+289.8%	$2.1M-40.0%	$3.4M+119.7%	$1.6M-69.2%	$5.1M+512.5%	$826K
Free Cash Flow	$271.4M	$166.2M+2774.6%	$5.8M-98.6%	$416.5M+441.7%	$76.9M-62.4%	$204.3M-29.4%	$289.4M+214.3%	-$253.1M-251.5%	-$72.0M-124.4%	$295.1M-22.1%	$379.0M+217.5%	-$322.6M-66.3%	-$194.0M-2616.3%	$7.7M+110.7%	-$72.1M+65.4%	-$208.2M
Investing Cash Flow	-$64.3M	-$66.0M-42.0%	-$46.5M+40.6%	-$78.2M-3535.5%	-$2.2M-123.9%	$9.0M+320.4%	$2.1M+125.8%	-$8.3M-123.4%	$35.5M+219.5%	-$29.7M+42.7%	-$51.9M-2198.9%	$2.5M+117.5%	-$14.2M-146.7%	$30.3M+2119.0%	-$1.5M-225.5%	$1.2M
Financing Cash Flow	-$143K	-$70.4M+62.5%	-$187.9M+28.2%	-$261.7M-1484.2%	-$16.5M+92.4%	-$217.3M-29.5%	-$167.8M-181.2%	$206.7M+190.1%	-$229.4M-55.2%	-$147.8M+39.8%	-$245.7M-179.3%	$309.9M+125.5%	$137.4M+737.0%	$16.4M-82.0%	$91.0M+1.3%	$89.8M
Dividends Paid	N/A	$10.7M0.0%	$10.7M0.0%	$10.7M0.0%	$10.7M	$0	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$18.4M	$30.2M+14.0%	$26.5M+452.7%	$4.8M-60.7%	$12.2M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$103K	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$67.1M-147.6%	$140.9M-16.7%	$169.1M+220.3%	$52.8M+136.7%	$22.3M+139.9%	-$55.9M-148.2%	$115.8M+225.5%	-$92.3M
Capital Expenditures	$3.4M-61.7%	$8.8M+72.4%	$5.1M-27.4%	$7.0M+10.9%	$6.3M+71.5%	$3.7M-16.7%	$4.4M+24.4%	$3.6M
Free Cash Flow	-$70.5M-153.3%	$132.1M-19.4%	$164.0M+258.3%	$45.8M+186.4%	$16.0M+126.8%	-$59.6M-153.5%	$111.4M+216.2%	-$95.8M
Investing Cash Flow	-$2.1M+92.6%	-$29.1M-442.1%	-$5.4M+80.6%	-$27.7M-251.4%	-$7.9M+68.6%	-$25.1M-305.8%	-$6.2M-99.6%	-$3.1M
Financing Cash Flow	$41.8M+179.5%	-$52.6M-32.0%	-$39.9M-178.9%	$50.5M+228.0%	-$39.4M+5.1%	-$41.6M-55.4%	-$26.8M-155.4%	$48.3M
Dividends Paid	N/A	N/A	$2.7M0.0%	$2.7M0.0%	$2.7M	N/A	$2.7M0.0%	$2.7M
Share Buybacks	$9.5M+6.1%	$9.0M+15417.2%	-$58K-38.3%	-$94K-99.2%	$12.3M-31.6%	$18.1M+163990.9%	-$11K-99.9%	$11.4M

HOV Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

HOV annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Net Margin	2.1%-5.9pp	8.1%+0.6pp	7.5%-0.3pp	7.7%-14.1pp	21.8%+19.7pp	2.2%+4.3pp	-2.1%-2.3pp	0.2%+13.8pp	-13.6%-13.5pp	-0.1%+0.7pp	-0.8%-15.6pp	14.9%+13.2pp	1.7%+6.2pp	-4.5%+20.8pp	-25.2%
Return on Equity	7.7%-22.6pp	30.2%-5.1pp	35.4%-23.5pp	58.9%-288.7pp	347.5%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	2.4%-6.9pp	9.3%+1.0pp	8.3%-0.5pp	8.8%-17.4pp	26.2%+23.4pp	2.8%+5.0pp	-2.2%-2.5pp	0.3%+17.8pp	-17.5%-17.4pp	-0.1%+0.5pp	-0.6%-14.0pp	13.4%+11.6pp	1.8%+5.7pp	-3.9%+13.9pp	-17.9%
Debt-to-Equity	1.080.0x	1.12-0.7x	1.81-1.2x	2.99-4.1x	7.14	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	5.6%+5.4pp	0.2%-14.9pp	15.1%+12.5pp	2.6%-4.7pp	7.3%-5.0pp	12.3%+24.9pp	-12.6%-8.9pp	-3.6%-15.7pp	12.0%-1.7pp	13.8%+28.8pp	-15.0%-5.6pp	-9.4%-9.8pp	0.4%+5.3pp	-4.9%+13.5pp	-18.4%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	0.0%-3.3pp	3.3%+3.4pp	-0.1%-2.2pp	2.1%-0.8pp	2.9%-1.3pp	4.2%-5.5pp	9.6%-0.5pp	10.1%
Return on Equity	0.0%-2.5pp	2.5%+2.6pp	-0.1%-2.1pp	2.0%-0.4pp	2.4%-1.1pp	3.5%-8.3pp	11.8%+1.4pp	10.4%
Return on Assets	0.0%-0.8pp	0.8%+0.8pp	0.0%-0.7pp	0.6%-0.1pp	0.8%-0.3pp	1.1%-2.5pp	3.6%+0.8pp	2.9%
Debt-to-Equity	1.090.0x	1.080.0x	1.08+0.1x	1.030.0x	1.050.0x	1.100.0x	1.12-0.2x	1.28
FCF Margin	-10.5%-31.5pp	20.9%+0.9pp	20.1%+14.3pp	5.7%+3.4pp	2.3%+11.2pp	-8.8%-20.2pp	11.4%+24.6pp	-13.3%

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

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Where Hovnanian Enterprises Inc Ranks

Frequently Asked Questions

What is Hovnanian Enterprises Inc's annual revenue?

Hovnanian Enterprises Inc (HOV) reported $3.0B in total revenue for fiscal year 2025. This represents a -0.9% 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 Hovnanian Enterprises Inc's revenue growing?

Hovnanian Enterprises Inc (HOV) revenue declined by 0.9% year-over-year, from $3.0B to $3.0B in fiscal year 2025.

Is Hovnanian Enterprises Inc profitable?

Yes, Hovnanian Enterprises Inc (HOV) reported a net income of $63.9M in fiscal year 2025, with a net profit margin of 2.1%.

What is Hovnanian Enterprises Inc's net profit margin?

Hovnanian Enterprises Inc (HOV) had a net profit margin of 2.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Hovnanian Enterprises Inc's return on equity (ROE)?

Hovnanian Enterprises Inc (HOV) has a return on equity of 7.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Hovnanian Enterprises Inc's free cash flow?

Hovnanian Enterprises Inc (HOV) generated $166.2M in free cash flow during fiscal year 2025. This represents a 2774.6% 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 Hovnanian Enterprises Inc's operating cash flow?

Hovnanian Enterprises Inc (HOV) generated $188.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Hovnanian Enterprises Inc's total assets?

Hovnanian Enterprises Inc (HOV) had $2.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Hovnanian Enterprises Inc's capital expenditures?

Hovnanian Enterprises Inc (HOV) invested $22.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Hovnanian Enterprises Inc buy back shares?

Yes, Hovnanian Enterprises Inc (HOV) spent $30.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Hovnanian Enterprises Inc's debt-to-equity ratio?

Hovnanian Enterprises Inc (HOV) had a debt-to-equity ratio of 1.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Hovnanian Enterprises Inc's return on assets (ROA)?

Hovnanian Enterprises Inc (HOV) had a return on assets of 2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Hovnanian Enterprises Inc's Piotroski F-Score?

Hovnanian Enterprises Inc (HOV) has a Piotroski F-Score of 4 out of 6 computable signals; 3 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 Hovnanian Enterprises Inc's earnings high quality?

Hovnanian Enterprises Inc (HOV) has an earnings quality ratio of 2.95x, 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.