Howard Hughes Holdings Inc. (HHH) Financial Ratios
17 years of historical data (2009–2025) · Real Estate · Real Estate - Diversified
EV/EBITDA
↓
17.46
+8% vs avg
5yr avg: 16.11
30Y Low5.7·High72.0
P/FCF
↓
9.03
↓-18% vs avg
5yr avg: 11.03
30Y Low10.7·High94.3
P/B Ratio
↓
1.03
↓-19% vs avg
5yr avg: 1.27
30Y Low0.7·High2.2
ROE
↑
3.7%
↓+4701% vs avg
5yr avg: 0.1%
30Y Low-47%·High8%
Debt/EBITDA
↑
11.71
↑+25% vs avg
5yr avg: 9.34
30Y Low2.3·High44.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HHH Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Howard Hughes Holdings Inc. trades at 31.8x earnings, 26% below its 5-year average of 42.9x, sitting at the 30th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 32%. On a free-cash-flow basis, the stock trades at 9.0x P/FCF, 18% below the 5-year average of 11.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.0B | $4.7B | $3.9B | $4.0B | $3.7B | $5.3B | $3.9B | $5.2B | $4.0B | $5.4B | $4.6B |
| Enterprise Value | $7.6B | $8.4B | $8.4B | $8.6B | $7.9B | $9.1B | $7.0B | $9.0B | $6.7B | $7.4B | $6.7B |
| P/E Ratio → | 31.79 | 37.99 | 19.42 | — | 19.95 | 94.16 | — | 70.65 | 70.46 | 31.99 | 22.99 |
| P/S Ratio | 2.70 | 3.20 | 2.20 | 3.95 | 2.47 | 3.71 | 5.62 | 4.02 | 3.78 | 4.90 | 4.49 |
| P/B Ratio | 1.03 | 1.23 | 1.36 | 1.32 | 1.02 | 1.42 | 1.06 | 1.57 | 1.24 | 1.69 | 1.81 |
| P/FCF | 9.03 | 10.70 | 10.99 | — | 11.39 | — | — | 26.06 | 19.52 | 17.27 | 94.32 |
| P/OCF | 8.61 | 10.20 | 9.61 | — | 11.32 | — | — | 25.19 | 19.10 | 16.89 | 78.85 |
P/E links to full P/E history page with 30-year chart
HHH EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Howard Hughes Holdings Inc.'s enterprise value stands at 17.5x EBITDA, 8% above its 5-year average of 16.1x. This is roughly in line with the Real Estate sector median of 17.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.67 | 4.79 | 8.36 | 5.27 | 6.39 | 10.08 | 6.93 | 6.30 | 6.71 | 6.45 |
| EV / EBITDA | 17.46 | 19.15 | 11.34 | — | 13.56 | 20.40 | 72.00 | 29.52 | 6.30 | 6.18 | 5.73 |
| EV / EBIT | 30.08 | 25.01 | 15.82 | — | 17.55 | 46.97 | 50.07 | 43.16 | 62.76 | 39.84 | 17.26 |
| EV / FCF | — | 18.97 | 23.92 | — | 24.29 | — | — | 44.91 | 32.53 | 23.67 | 135.44 |
HHH Profitability
Margins and return-on-capital ratios measuring operating efficiency
Howard Hughes Holdings Inc. earns an operating margin of 17.2%, below the Real Estate sector average of 24.8%. Operating margins have expanded from -51.6% to 17.2% over the past 3 years, signaling improving operational efficiency. ROE of 3.7% is modest. ROIC of 2.6% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.7% | 18.7% | 41.8% | 42.4% | 43.1% | 35.8% | 30.0% | 33.3% | 32.4% | 35.3% | 38.5% |
| Operating Margin | 17.2% | 17.2% | 32.0% | -51.6% | 28.5% | 16.9% | -17.1% | 11.6% | 10.0% | 19.9% | 31.6% |
| Net Profit Margin | 8.4% | 8.4% | 11.3% | -53.9% | 12.4% | 3.9% | -3.7% | 5.7% | 5.4% | 15.3% | 19.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.7% | 3.7% | 6.7% | -16.6% | 5.0% | 1.5% | -0.7% | 2.3% | 1.8% | 5.8% | 8.2% |
| ROA | 1.2% | 1.2% | 2.1% | -5.8% | 1.9% | 0.6% | -0.3% | 0.9% | 0.8% | 2.6% | 3.3% |
| ROIC | 2.6% | 2.6% | 5.6% | -5.2% | 4.2% | 2.5% | -1.3% | 1.7% | 1.4% | 3.4% | 5.5% |
| ROCE | 2.7% | 2.7% | 6.4% | -5.9% | 4.8% | 2.9% | -1.5% | 2.1% | 1.7% | 3.6% | 5.9% |
HHH Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Howard Hughes Holdings Inc. carries a Debt/EBITDA ratio of 11.7x, which is highly leveraged (48% above the sector average of 7.9x). Net debt stands at $3.6B ($5.1B total debt minus $1.5B cash). Interest coverage of just 1.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.33 | 1.33 | 1.81 | 1.68 | 1.33 | 1.25 | 1.17 | 1.26 | 0.98 | 0.90 | 1.05 |
| Debt / EBITDA | 11.71 | 11.71 | 6.94 | — | 8.29 | 10.43 | 44.51 | 13.77 | 2.99 | 2.39 | 2.31 |
| Net Debt / Equity | — | 0.95 | 1.60 | 1.48 | 1.16 | 1.02 | 0.84 | 1.14 | 0.83 | 0.63 | 0.79 |
| Net Debt / EBITDA | 8.35 | 8.35 | 6.13 | — | 7.20 | 8.54 | 31.81 | 12.39 | 2.52 | 1.67 | 1.74 |
| Debt / FCF | — | 8.27 | 12.93 | — | 12.91 | — | — | 18.85 | 13.01 | 6.40 | 41.12 |
| Interest Coverage | 1.93 | 1.93 | 3.22 | -3.56 | 4.03 | 1.49 | 1.06 | 1.98 | 1.30 | 2.87 | 5.88 |
HHH Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Howard Hughes Holdings Inc.'s current ratio of 8.59x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 3.28x to 8.59x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.59 | 8.59 | 3.02 | 3.28 | 3.70 | 2.03 | 2.24 | 1.78 | 1.76 | 3.03 | 2.61 |
| Quick Ratio | 8.59 | 8.59 | 3.02 | 3.28 | 3.65 | 1.97 | 2.17 | 1.69 | 1.51 | 17.38 | 2.61 |
| Cash Ratio | 7.87 | 7.87 | 1.01 | 0.84 | 1.26 | 0.86 | 1.46 | 0.61 | 0.64 | 1.87 | 1.16 |
| Asset Turnover | — | 0.14 | 0.19 | 0.11 | 0.16 | 0.15 | 0.08 | 0.15 | 0.14 | 0.16 | 0.16 |
| Inventory Turnover | — | — | 1940.45 | 879.49 | 37.74 | 15.67 | 8.59 | 14.27 | 3.63 | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
HHH Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Howard Hughes Holdings Inc. returns 0.1% to shareholders annually primarily through share buybacks. The earnings yield of 3.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | 0.0% | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 2.6% | 5.1% | — | 5.0% | 1.1% | — | 1.4% | 1.4% | 3.1% | 4.4% |
| FCF Yield | 11.1% | 9.3% | 9.1% | — | 8.8% | — | — | 3.8% | 5.1% | 5.8% | 1.1% |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 0.0% | 11.0% | 1.5% | 0.0% | 1.0% | 1.5% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.1% | 0.1% | 0.0% | 0.0% | 11.0% | 1.5% | 0.0% | 1.0% | 1.5% | 0.0% | 0.0% |
| Shares Outstanding | — | $59M | $50M | $50M | $51M | $55M | $52M | $43M | $43M | $43M | $43M |
Peer Comparison
Compare HHH with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HHHYou | $4B | 31.8 | 17.5 | 9.0 | 18.7% | 17.2% | 3.7% | 2.6% | 11.7 |
 IRT | $4B | 66.7 | 16.5 | 25.7 | -14.9% | 18.4% | 1.6% | 1.6% | 6.3 |
 FPH | $750M | 10.4 | 612.9 | 7.1 | 40.4% | -6.7% | 3.1% | -0.2% | 376.2 |
 ALX | $1B | 47.6 | 21.5 | 18.2 | 16.1% | 30.6% | 19.7% | 5.2% | 9.4 |
 FCPT | $3B | 22.4 | 17.3 | 13.9 | 95.4% | 55.7% | 7.3% | 4.5% | 5.4 |
 SPG | $70B | 15.2 | 21.1 | 19.5 | 85.7% | 49.9% | 89.6% | 7.7% | 6.3 |
 MAC | $6B | -31.2 | 21.4 | 19.4 | 38.2% | 16.5% | -7.3% | 1.6% | 9.8 |
 EQR | $24B | 22.2 | 15.4 | 18.8 | 46.3% | 36.3% | 9.7% | 4.2% | 4.1 |
 AVB | $25B | 24.3 | 18.7 | 17.7 | 67.0% | 30.1% | 8.9% | 3.3% | 5.1 |
 KIM | $17B | 29.7 | 18.3 | 21.6 | 54.7% | 35.2% | 5.5% | 3.0% | 6.3 |
 BXP | $10B | 37.3 | 9.2 | 14.9 | 60.6% | 55.7% | 3.5% | 6.1% | 6.1 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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HHH — Frequently Asked Questions
Quick answers to the most common questions about buying HHH stock.
What is Howard Hughes Holdings Inc.'s P/E ratio?
Howard Hughes Holdings Inc.'s current P/E ratio is 31.8x. The historical average is 47.1x. This places it at the 30th percentile of its historical range.
What is Howard Hughes Holdings Inc.'s EV/EBITDA?
Howard Hughes Holdings Inc.'s current EV/EBITDA is 17.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.3x.
What is Howard Hughes Holdings Inc.'s ROE?
Howard Hughes Holdings Inc.'s return on equity (ROE) is 3.7%. The historical average is -1.8%.
Is HHH stock overvalued?
Based on historical data, Howard Hughes Holdings Inc. is trading at a P/E of 31.8x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Howard Hughes Holdings Inc.'s profit margins?
Howard Hughes Holdings Inc. has 18.7% gross margin and 17.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Howard Hughes Holdings Inc. have?
Howard Hughes Holdings Inc.'s Debt/EBITDA ratio is 11.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.