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Howard Hughes Holdings Inc. (HHH) 10-Year Financial Performance & Capital Metrics

HHH • • REIT / Real Estate
Real EstateDiversified Real EstateMaster Planned Community DevelopmentLarge-Scale MPC 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 $1.75B +70.9%
  • FFO $378M +212.3%
  • FFO/Share 7.53 +211.1%
  • FFO Payout 0%
  • FFO per Share 7.53 +211.1%
  • NOI Margin 41.81% -1.3%
  • FFO Margin 21.56% +165.7%
  • ROE 6.7% +140.5%
  • ROA 2.1% +136.6%
  • Debt/Assets 55.72% +3.6%
  • Net Debt/EBITDA 6.13
  • Book Value/Share 56.70 -8.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 21.7%
  • ✓FFO growing 77.0% TTM
  • ✓Trading at only 1.5x book value

✗Weaknesses

No significant weaknesses identified

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

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.68%
5Y6.12%
3Y7.03%
TTM69.81%

Profit (Net Income) CAGR

10Y-
5Y21.73%
3Y52.18%
TTM262.33%

EPS CAGR

10Y-
5Y18.29%
3Y56.66%
TTM241.06%

ROCE

10Y Avg2.24%
5Y Avg1.34%
3Y Avg1.77%
Latest6.42%

Peer Comparison

Large-Scale MPC Developers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
HHHHoward Hughes Holdings Inc.4.95B83.4221.0770.95%14.95%7.15%7.08%1.81

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+797.09M1.04B1.1B1.06B1.3B699.49M1.43B1.49B1.02B1.75B
Revenue Growth %0.26%0.3%0.06%-0.03%0.22%-0.46%1.04%0.04%-0.31%0.71%
Property Operating Expenses495.78M636.39M711.39M719.52M866.88M489.34M917.23M847.43M590.13M1.02B
Net Operating Income (NOI)+----------
NOI Margin %----------
Operating Expenses+182.54M176.66M221.6M238.2M283.35M329.71M268.8M217.82M962.18M172.03M
G&A Expenses81.34M86.59M89.88M104.63M162.51M109.4M81.99M81.77M91.19M91.75M
EBITDA+217.76M1.16B1.19B1.06B305.48M97.88M447.02M579.06M-312.47M739.72M
EBITDA Margin %----------
Depreciation & Amortization+99M837.47M976.43M957.73M155.17M217.44M205.15M154.82M215.74M179.8M
D&A / Revenue %----------
Operating Income+118.76M326.76M218.5M106.81M150.31M-119.56M241.87M424.24M-528.21M559.92M
Operating Margin %----------
Interest Expense+59.74M65.72M64.57M82.03M105.37M132.26M130.04M110.89M156.95M164.93M
Interest Coverage1.99x4.97x3.38x1.30x1.43x-0.90x1.86x3.83x-3.37x3.39x
Non-Operating Income-93.42M-188.96M-61.7M0-58.6M-260.3M47.76M-23.16M30.1M29.6M
Pretax Income+150.72M320.78M120.82M73.22M103.54M8.48M64.08M334.9M-80.33M365.4M
Pretax Margin %----------
Income Tax+24M118.45M-45.8M15.49M29.25M11.65M15.15M82.2M-163.74M80.18M
Effective Tax Rate %----------
Net Income+126.72M202.3M168.4M57.01M73.96M-26.15M56.1M184.53M-551.77M197.7M
Net Margin %----------
Net Income Growth %6.39%0.6%-0.17%-0.66%0.3%-1.35%3.14%2.29%-3.99%1.36%
Funds From Operations (FFO)+----------
FFO Margin %----------
FFO Growth %5.82%3.61%0.1%-0.11%-0.77%-0.17%0.37%0.3%-1.99%2.12%
FFO per Share+----------
FFO Payout Ratio %----------
EPS (Diluted)+1.604.733.911.321.71-0.501.033.65-11.133.96
EPS Growth %3.67%1.96%-0.17%-0.66%0.3%-1.29%3.06%2.54%-4.05%1.36%
EPS (Basic)3.215.124.071.321.71-0.501.033.65-11.133.98
Diluted Shares Outstanding39.48M42.73M43.09M43.24M43.31M52.31M54.65M50.56M49.58M50.12M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+5.72B6.37B6.73B7.36B8.41B9.14B9.58B9.6B9.58B9.21B
Asset Growth %0.12%0.11%0.06%0.09%0.14%0.09%0.05%0%-0%-0.04%
Real Estate & Other Assets+5.46M13.9M19.24M5.91B142.43M11.78M7.87M7.64B6.89B7.22B
PP&E (Net)18.77M17.56M16.95M15.54M6.83B56.26M57.02M46.93M5.46M5.81M
Investment Securities1000K1000K1000K-1000K1000K1000K1000K1000K1000K1000K
Total Current Assets+1.06B1.49B1.39B1.38B1.23B1.91B2B1.85B2.46B1.78B
Cash & Equivalents445.3M665.51M861.06M499.68M422.86M1.24B843.21M626.65M629.71M596.08M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets17.6M61.3M120.19M242.21M587M142.43M455.28M472.28M994.77M402.42M
Intangible Assets49.09M41.5M65.92M59.83M87M82.07M73.98M64.87M36.85M36.35M
Total Liabilities3.36B3.8B3.54B4.12B5.08B5.43B5.85B6B6.52B6.37B
Total Debt+2.44B2.69B2.86B3.18B4.21B4.36B4.66B4.8B5.15B5.13B
Net Debt2B2.03B2B2.68B3.78B3.11B3.82B4.17B4.52B4.54B
Long-Term Debt2.21B2.69B2.78B3.09B4.14B3.97B4.49B4.75B5.15B5.13B
Short-Term Borrowings1000K01000K1000K182K1000K1000K000
Capital Lease Obligations000070.41M68.93M69.36M51.32M5.36M5.46M
Total Current Liabilities+515.35M572.01M459.78M779.27M693.19M852.26M983.17M499.3M749.59M587.64M
Accounts Payable33.93M33.05M35.89M38.75M37.48M28.59M72.83M36.17M47.6M48.32M
Deferred Revenue144.31M113.72M72.27M63.63M066.66M71.9M85.01M114.4M125.78M
Other Liabilities403.79M218.45M43.3M29.73M180.75M258.37M177K445.21M531.85M506.8M
Total Equity+2.36B2.57B3.19B3.24B3.33B3.72B3.73B3.61B3.06B2.84B
Equity Growth %0.06%0.09%0.24%0.02%0.03%0.11%0%-0.03%-0.15%-0.07%
Shareholders Equity2.36B2.57B3.18B3.13B3.15B3.71B3.71B3.54B2.99B2.78B
Minority Interest3.77M3.77M5.57M105.91M184.85M420K23.18M65.61M66.05M65.55M
Common Stock398K398K433K436K437K562K563K564K565K566K
Additional Paid-in Capital2.85B2.85B3.3B3.32B3.34B3.95B3.96B3.97B3.99B3.58B
Retained Earnings-480.21M-277.91M-109.51M-120.34M-46.38M-72.56M-16.46M168.08M-383.7M-185.99M
Preferred Stock0000000000
Return on Assets (ROA)0.02%0.03%0.03%0.01%0.01%-0%0.01%0.02%-0.06%0.02%
Return on Equity (ROE)0.06%0.08%0.06%0.02%0.02%-0.01%0.02%0.05%-0.17%0.07%
Debt / Assets0.43%0.42%0.42%0.43%0.5%0.48%0.49%0.5%0.54%0.56%
Debt / Equity1.03x1.05x0.90x0.98x1.26x1.17x1.25x1.33x1.68x1.81x
Net Debt / EBITDA9.18x1.74x1.67x2.52x12.39x31.81x8.54x7.20x-6.13x
Book Value per Share59.8860.1874.0074.8976.9671.0268.3171.3361.7056.70

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+23.93M58.91M319.03M210.52M207.73M-72.87M-283.96M325.25M-248.18M400.94M
Operating CF Growth %1.41%1.46%4.42%-0.34%-0.01%-1.35%-2.9%2.15%-1.76%2.62%
Operating CF / Revenue %----------
Net Income126.72M202.33M166.62M57.73M74.3M-3.17M48.92M53.36M83.17M285.93M
Depreciation & Amortization99.46M94.01M130.93M128.25M155.17M217.44M205.15M154.82M168.73M179.8M
Stock-Based Compensation0000000000
Other Non-Cash Items-467.98M-672.41M-556.72M-103.42M16.87M-435.78M-640.87M11.17M-748.67M-142.84M
Working Capital Changes244.58M321.29M621.67M130.5M-66.42M137.82M92.48M50.07M248.59M78.05M
Cash from Investing+-575.57M-38.56M-322.68M-841.77M-1.23B-428.55M101.46M-220.69M-348.92M-307.25M
Acquisitions (Net)22.97M377.49M-1.14M-2.62M-6.06M-3.88M-1.25M31.23M219K206K
Purchase of Investments-2.17M-63.04M-33.4M-240.95M000-100.41M-231.04M-256.45M
Sale of Investments1000K1000K1000K00001000K1000K1000K
Other Investing-3.13M16.53M68.9M-834.67M-1.22B-423.05M104.52M176.58M-104.19M-30.86M
Cash from Financing+436.49M199.86M199.2M391.17M921.09M1.12B156.14M-222.26M551.22M-148.25M
Dividends Paid00-12K0000000
Common Dividends0000000000
Debt Issuance (Net)1000K1000K1000K1000K1000K1000K1000K1000K1000K-1000K
Share Repurchases000-58.72M-53.92M0-81.13M-403.86M00
Other Financing-43.53M-2.35M84.53M115.72M69.41M-5.28M-45.26M11.06M21.97M-105.75M
Net Change in Cash+-115.15M220.21M195.55M-240.09M-104.08M622.86M-26.36M-117.7M-89.72M-10.71M
Exchange Rate Effect00000000-1000K1000K
Cash at Beginning560.45M445.3M665.51M964.3M724.22M620.13M1.24B1.22B1.1B1.01B
Cash at End445.3M665.51M861.06M724.22M620.13M1.24B1.22B1.1B1.01B998.5M
Free Cash Flow+8.49M49.25M312.06M206.03M200.78M-74.48M-285.77M323.25M-295.73M350.85M
FCF Growth %1.13%4.8%5.34%-0.34%-0.03%-1.37%-2.84%2.13%-1.91%2.19%
FCF / Revenue %----------

Key Ratios

Metric2015201620172018201920202021202220232024
FFO per Share5.7224.3326.5723.475.293.664.786.71-6.787.53
FFO Payout Ratio0%0%0%0%0%0%0%0%0%0%
NOI Margin37.8%38.51%35.34%32.41%33.34%30.04%35.76%43.11%42.38%41.81%
Net Debt / EBITDA9.18x1.74x1.67x2.52x12.39x31.81x8.54x7.20x-6.13x
Debt / Assets42.71%42.26%42.47%43.25%50%47.66%48.64%49.97%53.8%55.72%
Interest Coverage1.99x4.97x3.38x1.30x1.43x-0.90x1.86x3.83x-3.37x3.39x
Book Value / Share59.8860.187474.8976.9671.0268.3171.3361.756.7
Revenue Growth25.61%29.85%6.29%-3.23%22.17%-46.22%104.13%4.31%-31.24%70.95%

Frequently Asked Questions

Valuation & Price

Howard Hughes Holdings Inc. (HHH) has a price-to-earnings (P/E) ratio of 21.1x. This is roughly in line with market averages.

Growth & Financials

Howard Hughes Holdings Inc. (HHH) reported $1.83B in revenue for fiscal year 2024. This represents a 565% increase from $275.7M in 2011.

Howard Hughes Holdings Inc. (HHH) grew revenue by 70.9% over the past year. This is strong growth.

Yes, Howard Hughes Holdings Inc. (HHH) is profitable, generating $274.2M in net income for fiscal year 2024 (11.3% net margin).

Dividend & Returns

Howard Hughes Holdings Inc. (HHH) has a return on equity (ROE) of 6.7%. This is below average, suggesting room for improvement.

Industry Metrics

Howard Hughes Holdings Inc. (HHH) generated Funds From Operations (FFO) of $455.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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