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Hudson Pacific Properties (HPP) Financials

HPP NYSE
Trailing 12 months to June 30, 2026
Revenue $812.8M +1.8% YoY
Net Income -$572.1M n/m YoY
EPS (Diluted) -$12.81 FY2025 annual
Operating Cash Flow $128.8M +39.4% YoY
Market Cap $597.0M as of Oct 23, 2026
Price / Sales 0.7x on $812.8M revenue, trailing 12 months to June 30, 2026
Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026
Price / Book 0.2x on $2.8B equity, Q2 FY2026

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.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HPP SEC filings page.

Hudson Pacific Properties, Inc. (HPP) reported $812.8M in revenue over the twelve months to Jun 30, 2026, up 1.8% from the prior twelve months. 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 HPP FY2025

Hudson Pacific’s shrinking property base still produces cash, but deepening losses and weaker conversion reveal a financially compressed operating model.

From FY2023 to FY2025, revenue fell 12.7% while operating cash flow fell 47.9%, so cash generation deteriorated much faster than the top line. Net margin moved from -20.2% to -68.8% over that span, indicating losses deepened beyond the revenue contraction rather than reflecting a single weak year.

FY2025 liabilities fell 18.0% while equity rose 4.1%, indicating balance-sheet shrinkage was accompanied by lower leverage rather than additional obligations. Liabilities-to-equity fell to 1.4x, while liabilities still represented 55.9% of assets, so deleveraging improved the structure without making it lightly financed.

Gross margin rose 2.5% points while revenue fell 1.3% in FY2025, so improvement came without top-line expansion and appears tied to mix or cost structure rather than scale. Net loss reached $572M from $364M in FY2024, showing gross-profit recovery did not flow through to earnings.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Hudson Pacific Properties, 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
5/7

Hudson Pacific Properties, Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
N/A

Hudson Pacific Properties, Inc. reported a net loss of $572.2M while generating $121.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue
$188.3M
YoY-0.9%
QoQ+3.5%
5Y CAGR-2.7%
10Y CAGR+2.0%

Hudson Pacific Properties, Inc. generated $188.3M in revenue in Q2 2026. This represents a decrease of 0.9% from the same quarter a year earlier. Against the prior quarter it is up 3.5%.

Net Income
-$104.6M
YoYn/m
QoQn/m

Hudson Pacific Properties, Inc. reported a net loss of $104.6M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)
-$1.62
QoQn/m

Hudson Pacific Properties, Inc. earned -$1.62 per diluted share (EPS) in Q2 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$80.8M
YoY-65.8%
QoQ-41.5%
5Y CAGR-6.2%
10Y CAGR-13.3%

Hudson Pacific Properties, Inc. held $80.8M in cash as of Q2 2026; no long-term debt figure is on record for that period.

Shares Outstanding
54M
QoQ0.0%

Hudson Pacific Properties, Inc. had 54M shares outstanding in Q2 2026. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin
44.9%
YoY+1.8pp
QoQ+0.8pp
5Y change-17.2pp

Hudson Pacific Properties, Inc.'s gross margin was 44.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Net Margin
-55.5%
YoY-11.8pp
QoQ-26.3pp
5Y change-56.6pp
10Y change-56.1pp

Hudson Pacific Properties, Inc.'s net profit margin was -55.5% in Q2 2026, showing the share of revenue converted to profit. This is down 11.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 26.3 percentage points.

Return on Equity
-3.7%
YoY-1.2pp
QoQ-1.9pp
5Y change-3.8pp
10Y change-3.8pp

Hudson Pacific Properties, Inc.'s quarterly ROE was -3.7% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

HPP 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.

HPP quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$188.3M-0.9%$181.9M-8.4%$256.0M+22.1%$186.6M-6.9%$190.0M-12.8%$198.5M-7.3%$209.7M-6.2%$200.4M-13.4%
Gross Profit$84.6M+3.3%$80.3M-5.7%$153.6M+63.8%$82.7M-3.4%$81.9M-21.8%$85.2M-18.0%$93.7M-13.1%$85.6M-28.3%
SG&A Expenses$12.0M-56.8%$12.6M-32.0%$13.0M-33.4%$13.7M-29.9%$27.8M+34.2%$18.5M-6.2%$19.5M-1.5%$19.5M+11.6%
Interest Expense$38.5M-20.1%$38.0M-12.7%$38.9M-12.0%$41.7M-7.3%$48.1M+9.0%$43.5M-1.3%$44.1M-15.7%$45.0M-16.0%
Income Tax$394K-13.2%$348K+79.4%-$945Kn/m$24K-98.9%$454K-11.0%$194Kn/m-$1.1M-214.5%$2.2Mn/m
Net Income-$104.6Mn/m-$53.1Mn/m-$277.9Mn/m-$136.5Mn/m-$83.1Mn/m-$74.7Mn/m-$167.0Mn/m-$97.9Mn/m
EPS (Basic)-$1.62-$0.82N/A-$0.30-$0.41-$3.70-$1.18n/m-$0.69n/m
EPS (Diluted)-$1.62-$0.82N/A-$0.30-$0.41-$3.70-$1.18n/m-$0.69n/m
Diluted Shares (Avg)64M64MN/A451M203M20MN/A141M+0.2%

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

HPP 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.

HPP quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$7.2B-11.8%$7.2B-9.6%$7.3B-10.6%$7.8B-6.3%$8.1B-2.7%$8.0B-3.1%$8.1B-1.8%$8.3B-7.4%
Cash & Equivalents$80.8M-65.8%$138.0M+59.6%$138.4M+118.7%$190.4M+110.0%$236.0M+200.8%$86.5M-24.3%$63.3M-37.0%$90.7M+20.9%
Accounts Receivable$21.5M+60.0%$14.1M+23.3%$14.9M+2.9%$14.1M-6.0%$13.5M-26.3%$11.4M-52.3%$14.5M-41.1%$15.0M-22.5%
Goodwill$8.8M-94.4%$8.8M-94.4%$8.8M-94.4%$156.5M-40.7%$156.5M-40.7%$156.5M-40.7%$156.5M-40.7%$264.1M+0.2%
Total Liabilities$4.1B-7.0%$4.1B-16.7%$4.1B-18.0%$4.3B-13.3%$4.4B-9.3%$4.9B+2.1%$5.0B+4.9%$5.0B-5.5%
Total Equity$2.8B-16.4%$2.9B+4.9%$3.0B+4.1%$3.2B+7.3%$3.4B+7.5%$2.8B-12.6%$2.9B-7.2%$3.0B-4.8%

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.

HPP 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.

HPP quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$8.0Mn/m$44.3M+45.0%$59.3M+36507.4%$33.2M-48.0%-$2.0M-105.7%$30.5M-53.1%$162K-98.2%$63.7M-10.7%
Depreciation & Amortization$82.1M-13.3%$80.7M-13.3%$93.0M+4.4%$94.1M+8.6%$94.8M+9.2%$93.1M+1.3%$89.1M-13.7%$86.7M-12.1%
Stock-Based Compensation$1.3M-92.5%$1.9M-62.2%N/A$3.6M-40.0%$17.9M+158.6%$5.1M-21.7%N/A$6.0M+7.6%
Investing Cash Flow-$39.9Mn/m-$34.3M-315.2%$106.9Mn/m-$56.0Mn/m-$24.0Mn/m$15.9Mn/m-$54.8M-109.2%-$74.7Mn/m
Financing Cash Flow-$9.1M-105.7%-$9.7Mn/m-$218.6M-648.3%-$29.8M-219.5%$159.3Mn/m-$11.7M-156.8%$39.9Mn/m$25.0Mn/m
Dividends PaidN/A$557K+57.8%N/A$0n/m$0-100.0%$353K-95.5%$0n/m$0-100.0%
Share BuybacksN/AN/AN/AN/AN/AN/A$0n/m$0n/m

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

HPP 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.

HPP quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Gross Margin44.9%+1.8pp44.2%+1.2pp60.0%+15.3pp44.3%+1.6pp43.1%-4.9pp42.9%-5.6pp44.7%-3.6pp42.7%-8.8pp
Net Margin-55.5%-11.8pp-29.2%+8.4pp-108.5%-73.1%-24.3pp-43.8%-22.2pp-37.6%-13.3pp-79.7%-35.8pp-48.9%-32.6pp
Return on Equity-3.7%-1.2pp-1.8%+0.9pp-9.4%-3.5pp-4.2%-1.0pp-2.5%-1.0pp-2.7%-1.0pp-5.8%-2.7pp-3.2%-2.1pp
Return on Assets-1.5%-0.4pp-0.7%+0.2pp-3.8%-1.8pp-1.8%-0.6pp-1.0%-0.5pp-0.9%-0.3pp-2.1%-0.9pp-1.2%-0.8pp
Liabilities-to-Equity1.47+0.1x1.40-0.4x1.37-0.4x1.33-0.3x1.32-0.2x1.76+0.3x1.74+0.2x1.640.0x
Asset Turnover0.030.0x0.030.0x0.040.0x0.020.0x0.020.0x0.020.0x0.030.0x0.020.0x

Not reported in any period shown, so not listed: Operating Margin, Current Ratio, Debt-to-Equity, FCF Margin.

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: Net 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
Hudson Pacific Properties, Inc. HPP FY2025 $831.1M -$572.2M -68.8% $597.0M —
EMPIRE STATE REALTY OP, L.P. SERIES ES ESBA FY2025 $768.3M $73.0M 9.5% $1.3B —
Douglas Emmett, Inc. DEI FY2025 $1.0B $16.3M 1.6% $1.7B 61/100
COPT Defense Properties CDP FY2025 $763.9M $151.7M 19.9% $3.8B 74/100
SL Green Realty Corp. SLG FY2025 $1.0B -$96.9M -9.7% $3.6B 41/100
Kilroy Realty Corp. KRC FY2025 $1.1B $276.1M 24.8% $4.3B 76/100

Frequently Asked Questions

What is Hudson Pacific Properties, Inc.'s annual revenue?

Hudson Pacific Properties, Inc. (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 Properties, Inc.'s revenue growing?

Hudson Pacific Properties, Inc. (HPP) revenue declined by 1.3% year-over-year, from $842.1M to $831.1M in fiscal year 2025.

Is Hudson Pacific Properties, Inc. profitable?

No, Hudson Pacific Properties, Inc. (HPP) reported a net loss of $572.1M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $572.2M, with a net profit margin of -68.8%.

Hudson Pacific Properties, Inc. (HPP) reported diluted earnings per share of -$12.81 for fiscal year 2025. 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.

Hudson Pacific Properties, Inc. (HPP) had a gross margin of 48.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Hudson Pacific Properties, Inc. (HPP) had a net profit margin of -68.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Hudson Pacific Properties, Inc. (HPP) has a return on equity of -19.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Hudson Pacific Properties, Inc. (HPP) generated $121.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Hudson Pacific Properties, Inc. (HPP) had $7.3B in total assets as of fiscal year 2025, including both current and long-term assets.

Hudson Pacific Properties, Inc. (HPP) had 54M shares outstanding as of fiscal year 2025.

Hudson Pacific Properties, Inc. (HPP) had a liabilities-to-equity ratio of 1.37 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. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

Hudson Pacific Properties, Inc. (HPP) had a return on assets of -7.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Hudson Pacific Properties, Inc. (HPP) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $597.0M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Hudson Pacific Properties, Inc. (HPP) trades at 0.7x sales, its market capitalization divided by $812.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $597.0M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Hudson Pacific Properties, Inc. (HPP) has a Piotroski F-Score of 5 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.

Hudson Pacific Properties, Inc. (HPP) reported a net loss of $572.2M while generating $121.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.

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