Hudson Pacific Financials
This page shows Hudson Pacific (HPP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
Hudson Pacific’s assets still generate cash, but financing and non-cash charges now dominate the reported economics.
Recent periods show operating cash flow stayed positive even as net losses deepened from-$171M to-$592M . In the latest year, depreciation of$375M and interest expense of$172M depressed accounting profit more than near-term cash generation, which means the asset base still produces cash even while reported earnings deteriorate.
With gross margin improving to
Cash rose to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Hudson Pacific'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.
Hudson Pacific's revenue declined 1.3% year-over-year, from $842.1M to $831.1M. This contraction results in a growth score of 22/100.
Hudson Pacific carries a low D/E ratio of 1.37, meaning only $1.37 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.
Hudson Pacific generates a -19.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -13.4% the prior year.
Hudson Pacific passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Hudson Pacific generates $-0.20 in operating cash flow ($121.0M OCF vs -$592.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Hudson Pacific generated $831.1M in revenue in fiscal year 2025. This represents a decrease of 1.3% from the prior year.
Hudson Pacific reported -$592.3M in net income in fiscal year 2025. This represents a decrease of 55.3% from the prior year.
Hudson Pacific earned $-12.81 per diluted share (EPS) in fiscal year 2025. This represents an increase of 29.0% from the prior year.
Cash & Balance Sheet
Hudson Pacific held $138.4M in cash against $0 in long-term debt as of fiscal year 2025.
Hudson Pacific paid $0.00 per share in dividends in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Hudson Pacific had 54M shares outstanding in fiscal year 2025. This represents an increase of 168.7% from the prior year.
Margins & Returns
Hudson Pacific's gross margin was 48.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.5 percentage points from the prior year.
Hudson Pacific's net profit margin was -71.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 26.0 percentage points from the prior year.
Hudson Pacific's ROE was -19.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.6 percentage points from the prior year.
Capital Allocation
Hudson Pacific spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
HPP Income Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $148.7M-41.9% | $256.0M+37.2% | $186.6M-1.8% | $190.0M-4.3% | $198.5M-5.3% | $209.7M+4.6% | $200.4M-8.1% | $218.0M |
| Cost of Revenue | $6.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $78.9M-48.6% | $153.6M+85.8% | $82.7M+0.9% | $81.9M-3.8% | $85.2M-9.1% | $93.7M+9.6% | $85.6M-18.3% | $104.7M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $12.6M-3.2% | $13.0M-5.3% | $13.7M-50.6% | $27.8M+50.3% | $18.5M-5.2% | $19.5M-0.3% | $19.5M-5.6% | $20.7M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $38.0M-2.2% | $38.9M-6.9% | $41.7M-13.3% | $48.1M+10.6% | $43.5M-1.4% | $44.1M-1.9% | $45.0M+1.9% | $44.2M |
| Income Tax | $348K+136.8% | -$945K-4037.5% | $24K-94.7% | $454K+134.0% | $194K+118.4% | -$1.1M-148.2% | $2.2M+328.0% | $510K |
| Net Income | -$48.6M+82.7% | -$280.2M-94.5% | -$144.1M-64.2% | -$87.8M-9.3% | -$80.3M+53.7% | -$173.5M-62.1% | -$107.0M-125.0% | -$47.6M |
| EPS (Diluted) | $-0.82 | N/A | $-0.30+26.8% | $-0.41+22.6% | $-0.53 | N/A | $-0.69-109.1% | $-0.33 |
HPP Balance Sheet
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.2B-0.5% | $7.3B-6.8% | $7.8B-4.1% | $8.1B+1.6% | $8.0B-1.6% | $8.1B-2.2% | $8.3B-0.4% | $8.4B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $138.0M-0.3% | $138.4M-27.3% | $190.4M-19.3% | $236.0M+172.9% | $86.5M+36.7% | $63.3M-30.3% | $90.7M+15.6% | $78.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $14.1M-5.4% | $14.9M+6.0% | $14.1M+4.7% | $13.5M+17.5% | $11.4M-21.1% | $14.5M-3.2% | $15.0M-17.9% | $18.3M |
| Goodwill | $8.8M0.0% | $8.8M-94.4% | $156.5M0.0% | $156.5M0.0% | $156.5M0.0% | $156.5M-40.7% | $264.1M0.0% | $264.1M |
| Total Liabilities | $4.1B+0.5% | $4.1B-5.7% | $4.3B-2.9% | $4.4B-9.4% | $4.9B-1.0% | $5.0B-0.3% | $5.0B+1.5% | $4.9B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $3.4B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.9B-1.8% | $3.0B-8.5% | $3.2B-3.5% | $3.4B+21.0% | $2.8B-2.6% | $2.9B-5.7% | $3.0B-3.3% | $3.1B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HPP Cash Flow Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $44.3M-25.3% | $59.3M+78.8% | $33.2M+1726.3% | -$2.0M-106.7% | $30.5M+18749.4% | $162K-99.7% | $63.7M+78.9% | $35.6M |
| 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 | -$34.3M-132.1% | $106.9M+290.9% | -$56.0M-133.2% | -$24.0M-250.7% | $15.9M+129.1% | -$54.8M+26.7% | -$74.7M-50.4% | -$49.7M |
| Financing Cash Flow | -$9.7M+95.6% | -$218.6M-632.5% | -$29.8M-118.7% | $159.3M+1457.5% | -$11.7M-129.4% | $39.9M+59.6% | $25.0M+227.5% | -$19.6M |
| Dividends Paid | $557K+27950.0% | -$2K | $0 | $0-100.0% | $353K | $0 | $0-100.0% | $12.6M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
HPP Financial Ratios
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.0%-6.9pp | 60.0%+15.7pp | 44.3%+1.2pp | 43.1%+0.2pp | 42.9%-1.8pp | 44.7%+2.0pp | 42.7%-5.4pp | 48.0% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -32.7%+76.8pp | -109.4%-32.2pp | -77.2%-31.0pp | -46.2%-5.7pp | -40.5%+42.3pp | -82.7%-29.3pp | -53.4%-31.6pp | -21.8% |
| Return on Equity | -1.7%+7.8pp | -9.4%-5.0pp | -4.4%-1.8pp | -2.6%+0.3pp | -2.9%+3.2pp | -6.1%-2.5pp | -3.5%-2.0pp | -1.5% |
| Return on Assets | -0.7%+3.2pp | -3.9%-2.0pp | -1.8%-0.8pp | -1.1%-0.1pp | -1.0%+1.1pp | -2.1%-0.8pp | -1.3%-0.7pp | -0.6% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.15-0.2 | 1.37+0.0 | 1.330.0 | 1.32-0.4 | 1.76+0.0 | 1.74+0.1 | 1.64+0.1 | 1.56 |
| 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 Hudson Pacific's annual revenue?
Hudson Pacific (HPP) reported $831.1M in total revenue for fiscal year 2025. This represents a -1.3% 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 Hudson Pacific's revenue growing?
Hudson Pacific (HPP) revenue declined by 1.3% year-over-year, from $842.1M to $831.1M in fiscal year 2025.
Is Hudson Pacific profitable?
No, Hudson Pacific (HPP) reported a net income of -$592.3M in fiscal year 2025, with a net profit margin of -71.3%.
What is Hudson Pacific's gross margin?
Hudson Pacific (HPP) had a gross margin of 48.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hudson Pacific's net profit margin?
Hudson Pacific (HPP) had a net profit margin of -71.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Hudson Pacific's return on equity (ROE)?
Hudson Pacific (HPP) has a return on equity of -19.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hudson Pacific's operating cash flow?
Hudson Pacific (HPP) generated $121.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hudson Pacific's total assets?
Hudson Pacific (HPP) had $7.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Hudson Pacific's debt-to-equity ratio?
Hudson Pacific (HPP) had a debt-to-equity ratio of 1.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hudson Pacific's return on assets (ROA)?
Hudson Pacific (HPP) had a return on assets of -8.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hudson Pacific's Piotroski F-Score?
Hudson Pacific (HPP) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hudson Pacific's earnings high quality?
Hudson Pacific (HPP) has an earnings quality ratio of -0.20x, considered mixed 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.
How financially healthy is Hudson Pacific?
Hudson Pacific (HPP) scores 16 out of 100 on our Financial Profile, indicating weak 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.