Howard Hughes Holdings Inc.(HHH)Earnings, Financials & Key Ratios

HHH•NYSE•REIT / Real Estate

$64.12

$3.82B mkt cap·30.5× P/E·Price updated May 6, 2026

SectorReal Estate IndustryDiversified Real Estate Sub-IndustryMaster planned community land developers

AboutHoward Hughes Holdings Inc., together with its subsidiaries, operates as a real estate development company in the United States. It operates in four segments: Operating Assets; Master Planned Communities (MPCs); Seaport; and Strategic Developments. The Operating Assets segment consists of developed or acquired retail, office, and multi-family properties along with other retail investments. Its MPCs segment develops, sells, and leases residential and commercial land designated for long-term community development projects in and around Las Vegas, Nevada; Houston, Texas; and Phoenix, Arizona. The Seaport segment is involved in the landlord operations, managed businesses, and events and sponsorships services of its restaurant, retail, and entertain properties in Pier 17, New York City; Historic Area/Uplands; and Tin Building, as well as in 250 Water Street and in the Jean-Georges restaurants. The Strategic Development segment develops and redevelops residential condominiums and commercial properties. It serves homebuilders. Howard Hughes Holdings Inc. was founded in 2010 and is headquartered in The Woodlands, Texas.Show more

Revenue$1.47B-15.8%
FFO$307M-18.6%
FFO/Share5.19-31.0%
FFO Payout0%
FFO per Share5.19-31.0%
NOI Margin18.72%-55.2%
FFO Margin20.82%-3.4%
ROE3.71%-44.7%
ROA1.25%-40.7%
Debt/Assets48.07%-13.7%
Net Debt/EBITDA8.35+36.1%
Book Value/Share64.99+14.6%

Technical→

HHH Key Insights

Howard Hughes Holdings Inc. (HHH) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Trading at only 1.0x book value

✗Weaknesses

✗FFO declining 18.7% TTM
✗Low NOI margin of 18.7%
✗Shares diluted 18.0% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

HHH Price & Volume

Howard Hughes Holdings Inc. (HHH) stock price & volume — 10-year historical chart

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HHH Growth Metrics

Howard Hughes Holdings Inc. (HHH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years6.35%

5 Years16.09%

3 Years-0.33%

TTM-15.75%

Profit CAGR

10 Years-0.22%

5 Years-

3 Years-12.44%

TTM-37.33%

EPS CAGR

10 Years2.76%

5 Years-

3 Years-16.83%

TTM-46.72%

Return on Capital

10 Years2.27%

5 Years2.17%

3 Years1.06%

Last Year2.66%

HHH Recent Earnings

Howard Hughes Holdings Inc. (HHH) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 5/12 qtrs (42%)●Beat Revenue 8/12 qtrs (67%)

Q1 2026Latest

Feb 19, 2026

EPS

$0.10

Est $0.31

-67.7%

Revenue

$624M

Est $591M

+5.6%

Q4 2025

Nov 10, 2025

EPS

$2.02

Est $1.46

+38.4%

Revenue

$390M

Est $358M

+9.0%

Q3 2025

Aug 6, 2025

EPS

$0.44

Est $1.01

-56.4%

Revenue

$261M

Est $289M

-9.7%

Q2 2025

May 7, 2025

EPS

$0.21

Est $0.13

+61.5%

Revenue

$199M

Est $197M

+1.2%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Feb 19, 2026	$0.10vs $0.31-67.7%	$624Mvs $591M+5.6%
Q4 2025	Nov 10, 2025	$2.02vs $1.46+38.4%	$390Mvs $358M+9.0%
Q3 2025	Aug 6, 2025	$0.44vs $1.01-56.4%	$261Mvs $289M-9.7%
Q2 2025	May 7, 2025	$0.21vs $0.13+61.5%	$199Mvs $197M+1.2%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
IRTIndependence Realty Trust, Inc.Direct Competitor	3.87B	16.42	68.42	2.76%	7.27%	1.35%	0.64
FPHFive Point Holdings, LLCDirect Competitor	3.55B	4.96	10.33	-53.76%	36.97%	1.77%	0.22
ALXAlexander's, Inc.Direct Competitor	1.3B	253.98	46.18	-5.83%	9.72%	17.37%	8.64
FCPTFour Corners Property Trust, Inc.Direct Competitor	2.79B	25.41	23.31	9.72%	38.74%	7.38%	0.74
SPGSimon Property Group, Inc.Product Competitor	66.84B	205.51	14.53	6.72%	72.51%	68.82%	4.47
MACThe Macerich CompanyProduct Competitor	5.78B	22.23	-28.87	10.58%	-19.42%	-7.5%	2.06
EQREquity ResidentialProduct Competitor	24.79B	66.16	22.74	4.06%	30.56%	8.4%	0.77
AVBAvalonBay Communities, Inc.Product Competitor	25.94B	186.44	25.23	4.29%	34.64%	8.76%	0.79

Compare HHH vs Peers

Howard Hughes Holdings Inc. (HHH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IRT

Most directly comparable listed peer for HHH.

Scale Benchmark

vs SPG

Larger-name benchmark to compare HHH against a more recognizable public peer.

Peer Set

Compare Top 5

vs IRT, FPH, ALX, FCPT

HHH Income Statement

Howard Hughes Holdings Inc. (HHH) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Revenue	1.1B	1.06B	1.3B	699.49M	1.43B	1.49B	1.02B	1.75B	1.47B
Revenue Growth %	6.29%	-3.23%	22.17%	-46.22%	104.13%	4.31%	-31.24%	70.95%	-15.75%
Property Operating Expenses	711.39M	719.52M	866.88M	489.34M	917.23M	847.43M	590.13M	1.02B	1.2B
Net Operating Income (NOI)	388.73M▲ 0%	345.01M▼ 11.2%	433.66M▲ 25.7%	210.15M▼ 51.5%	510.68M▲ 143.0%	642.06M▲ 25.7%	433.97M▼ 32.4%	731.95M▲ 68.7%	276.1M▼ 62.3%
NOI Margin %	35.34%	32.41%	33.34%	30.04%	35.76%	43.11%	42.38%	41.81%	18.72%
Operating Expenses	221.6M	238.2M	283.35M	329.71M	268.8M	217.82M	962.18M	172.03M	22.61M
G&A Expenses	89.88M	104.63M	162.51M	109.4M	81.99M	81.77M	91.19M	91.75M	122.24M
EBITDA	1.19B	1.06B	305.48M	97.88M	447.02M	579.06M	-312.47M	739.72M	436.73M
EBITDA Margin %	108.62%	100%	23.49%	13.99%	31.31%	38.88%	-30.51%	42.25%	29.61%
Depreciation & Amortization	976.43M	957.73M	155.17M	217.44M	205.15M	154.82M	215.74M	179.8M	183.23M
D&A / Revenue %	88.76%	89.97%	11.93%	31.08%	14.37%	10.39%	21.07%	10.27%	12.42%
Operating Income	218.5M▲ 0%	106.81M▼ 51.1%	150.31M▲ 40.7%	-119.56M▼ 179.5%	241.87M▲ 302.3%	424.24M▲ 75.4%	-528.21M▼ 224.5%	559.92M▲ 206.0%	253.49M▼ 54.7%
Operating Margin %	19.86%	10.03%	11.56%	-17.09%	16.94%	28.48%	-51.58%	31.98%	17.19%
Interest Expense	64.57M	82.03M	105.37M	132.26M	130.04M	110.89M	156.95M	164.93M	172.85M
Interest Coverage	2.87x	1.30x	1.98x	1.06x	1.49x	4.03x	-3.56x	3.22x	1.93x
Non-Operating Income	-61.7M	0	-58.6M	-260.3M	47.76M	-23.16M	30.1M	29.6M	-80.82M
Pretax Income	120.82M▲ 0%	73.22M▼ 39.4%	103.54M▲ 41.4%	8.48M▼ 91.8%	64.08M▲ 655.6%	334.9M▲ 422.7%	-80.33M▼ 124.0%	365.4M▲ 554.9%	161.46M▼ 55.8%
Pretax Margin %	10.98%	6.88%	7.96%	1.21%	4.49%	22.48%	-7.84%	20.87%	10.95%
Income Tax	-45.8M	15.49M	29.25M	11.65M	15.15M	82.2M	-163.74M	80.18M	37.62M
Effective Tax Rate %	-37.91%	21.16%	28.25%	137.42%	23.65%	24.54%	203.84%	21.94%	23.3%
Net Income	168.4M▲ 0%	57.01M▼ 66.1%	73.96M▲ 29.7%	-26.15M▼ 135.4%	56.1M▲ 314.5%	184.53M▲ 228.9%	-551.77M▼ 399.0%	197.7M▲ 135.8%	123.9M▼ 37.3%
Net Margin %	15.31%	5.36%	5.69%	-3.74%	3.93%	12.39%	-53.88%	11.29%	8.4%
Net Income Growth %	-16.76%	-66.15%	29.72%	-135.36%	314.5%	228.94%	-399.01%	135.83%	-37.33%
Funds From Operations (FFO)	1.14B▲ 0%	1.01B▼ 11.4%	229.13M▼ 77.4%	191.28M▼ 16.5%	261.25M▲ 36.6%	339.36M▲ 29.9%	-336.03M▼ 199.0%	377.5M▲ 212.3%	307.13M▼ 18.6%
FFO Margin %	104.06%	95.32%	17.62%	27.35%	18.3%	22.78%	-32.81%	21.56%	20.82%
FFO Growth %	10.1%	-11.36%	-77.42%	-16.52%	36.58%	29.9%	-199.02%	212.34%	-18.64%
FFO per Share	26.57	23.47	5.29	3.66	4.78	6.71	-6.78	7.53	5.19
FFO Payout Ratio %	0%	0%	0%	0%	0%	0%	0%	0%	0%
EPS (Diluted)	3.91▲ 0%	1.32▼ 66.2%	1.71▲ 29.5%	-0.50▼ 129.2%	1.03▲ 306.0%	3.65▲ 254.4%	-11.13▼ 404.9%	3.96▲ 135.6%	2.10▼ 47.0%
EPS Growth %	-17.34%	-66.24%	29.55%	-129.24%	306%	254.37%	-404.93%	135.58%	-46.97%
EPS (Basic)	4.07	1.32	1.71	-0.50	1.03	3.65	-11.13	3.98	2.11
Diluted Shares Outstanding	43.09M	43.24M	43.31M	52.31M	54.65M	50.56M	49.58M	50.12M	59.12M

HHH Balance Sheet

Howard Hughes Holdings Inc. (HHH) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Assets	6.73B	7.36B	8.41B	9.14B	9.58B	9.6B	9.58B	9.21B	10.64B
Asset Growth %	5.68%	9.31%	14.38%	8.64%	4.83%	0.23%	-0.28%	-3.82%	15.51%
Real Estate & Other Assets	19.24M	5.91B	142.43M	11.78M	7.87M	7.64B	6.89B	7.22B	-7.55B
PP&E (Net)	16.95M	15.54M	6.83B	56.26M	57.02M	46.93M	5.46M	5.81M	5.23M
Investment Securities	1000K	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets	1.39B	1.38B	1.23B	1.91B	2B	1.85B	2.46B	1.78B	1.6B
Cash & Equivalents	861.06M	499.68M	422.86M	1.24B	843.21M	626.65M	629.71M	596.08M	1.47B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	120.19M	242.21M	587M	142.43M	455.28M	472.28M	994.77M	402.42M	28.85M
Intangible Assets	65.92M	59.83M	87M	82.07M	73.98M	64.87M	36.85M	36.35M	7.93M
Total Liabilities	3.54B	4.12B	5.08B	5.43B	5.85B	6B	6.52B	6.37B	6.8B
Total Debt	2.86B	3.18B	4.21B	4.36B	4.66B	4.8B	5.15B	5.13B	5.11B
Net Debt	2B	2.68B	3.78B	3.11B	3.82B	4.17B	4.52B	4.54B	3.65B
Long-Term Debt	2.78B	3.09B	4.14B	3.97B	4.49B	4.75B	5.15B	5.13B	5.11B
Short-Term Borrowings	78.21M	93.36M	182K	321.71M	103.02M	0	0	0	0
Capital Lease Obligations	24.57M	0	70.41M	68.93M	69.36M	51.32M	5.36M	5.46M	4.87M
Total Current Liabilities	459.78M	779.27M	693.19M	852.26M	983.17M	499.3M	749.59M	587.64M	186.59M
Accounts Payable	35.89M	38.75M	37.48M	28.59M	72.83M	36.17M	47.6M	48.32M	69.02M
Deferred Revenue	72.27M	63.63M	0	66.66M	71.9M	85.01M	114.4M	125.78M	166.12M
Other Liabilities	43.3M	29.73M	180.75M	258.37M	177K	445.21M	531.85M	506.8M	1.16B
Total Equity	3.19B▲ 0%	3.24B▲ 1.6%	3.33B▲ 2.9%	3.72B▲ 11.5%	3.73B▲ 0.5%	3.61B▼ 3.4%	3.06B▼ 15.2%	2.84B▼ 7.1%	3.84B▲ 35.2%
Equity Growth %	24%	1.55%	2.93%	11.46%	0.49%	-3.4%	-15.17%	-7.1%	35.21%
Shareholders Equity	3.18B	3.13B	3.15B	3.71B	3.71B	3.54B	2.99B	2.78B	3.78B
Minority Interest	5.57M	105.91M	184.85M	420K	23.18M	65.61M	66.05M	65.55M	66.79M
Common Stock	433K	436K	437K	562K	563K	564K	565K	566K	659K
Additional Paid-in Capital	3.3B	3.32B	3.34B	3.95B	3.96B	3.97B	3.99B	3.58B	4.46B
Retained Earnings	-109.51M	-120.34M	-46.38M	-72.56M	-16.46M	168.08M	-383.7M	-185.99M	-62.1M
Preferred Stock	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	2.57%	0.81%	0.94%	-0.3%	0.6%	1.92%	-5.75%	2.1%	1.25%
Return on Equity (ROE)	5.85%	1.77%	2.25%	-0.74%	1.51%	5.03%	-16.56%	6.7%	3.71%
Debt / Assets	42.47%	43.25%	50%	47.66%	48.64%	49.97%	53.8%	55.72%	48.07%
Debt / Equity	0.90x	0.98x	1.26x	1.17x	1.25x	1.33x	1.68x	1.81x	1.33x
Net Debt / EBITDA	1.67x	2.52x	12.39x	31.81x	8.54x	7.20x	-	6.13x	8.35x
Book Value per Share	74.00	74.89	76.96	71.02	68.31	71.33	61.70	56.70	64.99

HHH Cash Flow Statement

Howard Hughes Holdings Inc. (HHH) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	319.03M	210.52M	207.73M	-72.87M	-283.96M	325.25M	-248.18M	400.94M	462.37M
Operating CF Growth %	441.51%	-34.01%	-1.32%	-135.08%	-289.68%	214.54%	-176.3%	261.55%	15.32%
Operating CF / Revenue %	29%	19.78%	15.97%	-10.42%	-19.89%	21.84%	-24.23%	22.9%	31.35%
Net Income	166.62M	57.73M	74.3M	-3.17M	48.92M	53.36M	83.17M	285.93M	123.9M
Depreciation & Amortization	130.93M	128.25M	155.17M	217.44M	205.15M	154.82M	168.73M	179.8M	0
Stock-Based Compensation	0	0	0	0	0	0	0	0	3.19M
Other Non-Cash Items	-556.72M	-103.42M	16.87M	-435.78M	-640.87M	11.17M	-748.67M	-142.84M	78.35M
Working Capital Changes	621.67M	130.5M	-66.42M	137.82M	92.48M	50.07M	248.59M	78.05M	256.93M
Cash from Investing	-322.68M	-841.77M	-1.23B	-428.55M	101.46M	-220.69M	-348.92M	-307.25M	-219.07M
Acquisitions (Net)	-1.14M	-2.62M	-6.06M	-3.88M	-1.25M	31.23M	219K	206K	0
Purchase of Investments	-33.4M	-240.95M	0	0	0	-100.41M	-231.04M	-256.45M	0
Sale of Investments	88.38M	0	0	0	0	81.72M	39.54M	48.41M	0
Other Investing	68.9M	-834.67M	-1.22B	-423.05M	104.52M	176.58M	-104.19M	-30.86M	-219.07M
Cash from Financing	199.2M	391.17M	921.09M	1.12B	156.14M	-222.26M	551.22M	-148.25M	855.35M
Dividends Paid	-12K	0	0	0	0	0	0	0	0
Common Dividends	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Share Repurchases	0	-58.72M	-53.92M	0	-81.13M	-403.86M	0	0	-3.64M
Other Financing	84.53M	115.72M	69.41M	-5.28M	-45.26M	11.06M	21.97M	-105.75M	881.9M
Net Change in Cash	195.55M▲ 0%	-240.09M▼ 222.8%	-104.08M▲ 56.6%	622.86M▲ 698.4%	-26.36M▼ 104.2%	-117.7M▼ 346.5%	-89.72M▲ 23.8%	-10.71M▲ 88.1%	1.1B▲ 10359.2%
Exchange Rate Effect	0	0	0	0	0	0	-43.84M	43.84M	0
Cash at Beginning	665.51M	964.3M	724.22M	620.13M	1.24B	1.22B	1.1B	1.01B	998.5M
Cash at End	861.06M	724.22M	620.13M	1.24B	1.22B	1.1B	1.01B	998.5M	2.1B
Free Cash Flow	312.06M▲ 0%	206.03M▼ 34.0%	200.78M▼ 2.6%	-74.48M▼ 137.1%	-285.77M▼ 283.7%	323.25M▲ 213.1%	-295.73M▼ 191.5%	350.85M▲ 218.6%	440.76M▲ 25.6%
FCF Growth %	533.59%	-33.98%	-2.55%	-137.1%	-283.68%	213.11%	-191.49%	218.64%	25.63%
FCF / Revenue %	28.37%	19.35%	15.44%	-10.65%	-20.01%	21.7%	-28.88%	20.04%	29.88%

HHH Key Ratios

Howard Hughes Holdings Inc. (HHH) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	24.33	26.57	23.47	5.29	3.66	4.78	6.71	-6.78	7.53	5.19
FFO Payout Ratio	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
NOI Margin	38.51%	35.34%	32.41%	33.34%	30.04%	35.76%	43.11%	42.38%	41.81%	18.72%
Net Debt / EBITDA	1.74x	1.67x	2.52x	12.39x	31.81x	8.54x	7.20x	-	6.13x	8.35x
Debt / Assets	42.26%	42.47%	43.25%	50%	47.66%	48.64%	49.97%	53.8%	55.72%	48.07%
Interest Coverage	5.88x	2.87x	1.30x	1.98x	1.06x	1.49x	4.03x	-3.56x	3.22x	1.93x
Book Value / Share	60.18	74	74.89	76.96	71.02	68.31	71.33	61.7	56.7	64.99
Revenue Growth	29.85%	6.29%	-3.23%	22.17%	-46.22%	104.13%	4.31%	-31.24%	70.95%	-15.75%

HHH SEC Filings & Documents

Howard Hughes Holdings Inc. (HHH) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 21, 2026·SEC

Material company update

Mar 6, 2026·SEC

Material company update

Feb 19, 2026·SEC

10-K Annual Reports

FY 2026

Feb 19, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 7, 2025·SEC

HHH Frequently Asked Questions

Howard Hughes Holdings Inc. (HHH) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Howard Hughes Holdings Inc. (HHH) reported $1.47B in revenue for fiscal year 2025. This represents a 982% increase from $136.3M in 2009.

Howard Hughes Holdings Inc. (HHH) saw revenue decline by 15.8% over the past year.

Yes, Howard Hughes Holdings Inc. (HHH) is profitable, generating $123.9M in net income for fiscal year 2025 (8.4% net margin).

Dividend & Returns

Howard Hughes Holdings Inc. (HHH) has a return on equity (ROE) of 3.7%. This is below average, suggesting room for improvement.

Industry Metrics

Howard Hughes Holdings Inc. (HHH) generated Funds From Operations (FFO) of $307.3M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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Howard Hughes Holdings Inc. (HHH) financial analysis — history, returns, DCA and operating performance tools

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EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

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Howard Hughes Holdings Inc.(HHH)Earnings, Financials & Key Ratios

HHH Key Insights

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HHH Price & Volume

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