NYSE · Financial Statements

Howard Hughes Holdings Inc. (HHH) Financial Statements

$70.19 NYSE: HHH Market Cap $4.19B

Howard Hughes Holdings Inc. most recently reported annual revenue of $1.5B, net profit of $124.0M. Revenue grew at an average annual rate of 16.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Howard Hughes Holdings Inc.: Revenue rose from $1.0B in 2016 to $1.5B in 2025, a change of +42.5% over 9 years; net profit was positive in 8 of 10 reported years; operating margin moved from 31.6% to 17.2%, a shift of -14.4 percentage points; the most recent year shows net profit of $124.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$1.0B$1.1B$1.1B$1.3B$699.0M$1.4B$1.5B$1.0B$1.8B$1.5B
Operating Expenses$708.0M$882.0M$958.0M$1.1B$819.0M$1.2B$1.1B$1.6B$1.2B$1.2B
Operating Profit$327.0M$219.0M$107.0M$150.0M$-120.0M$242.0M$424.0M$-528.0M$560.0M$253.0M
Operating Margin31.6%19.9%10.0%11.6%-17.1%16.9%28.5%-51.6%32.0%17.2%
Other Income$123.0M$-3.0M$-34.0M$-47.0M$128.0M$-178.0M$-89.0M$448.0M$-195.0M$-92.0M
Interest$66.0M$65.0M$82.0M$105.0M$132.0M$130.0M$111.0M$157.0M$165.0M$173.0M
Depreciation$837.0M$976.0M$958.0M$155.0M$217.0M$205.0M$155.0M$216.0M$180.0M$183.0M
Profit Before Tax$321.0M$121.0M$73.0M$104.0M$8.0M$64.0M$335.0M$-80.0M$365.0M$161.0M
Tax$36.9M$-37.9M$21.2M$28.3M$137.4M$23.6M$24.5M$203.8M$21.9M$23.3M
Net Profit$202.0M$168.0M$57.0M$74.0M$-26.0M$56.0M$185.0M$-552.0M$198.0M$124.0M
EPS$4.73$3.91$1.32$1.71$-0.50$1.03$3.65$-11.13$3.96$2.10
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$228.0M$313.0M$156.0M$283.0M$327.0M$984.0M$199.0M$261.0M$390.0M$624.0M$236.0M$1.1B
Operating Expenses$169.0M$208.0M$144.0M$195.0M$129.0M$723.0M$151.0M$193.0M$201.0M$676.0M$185.0M$883.0M
Operating Profit$59.0M$105.0M$13.0M$88.0M$198.0M$261.0M$48.0M$68.0M$190.0M$-52.0M$51.0M$240.0M
Operating Margin26.0%33.6%8.1%31.2%60.6%26.5%24.1%26.0%48.6%-8.3%21.5%21.4%
Interest$39.0M$46.0M$42.0M$43.0M$44.0M$42.0M$41.0M$44.0M$44.0M$44.0M$42.0M$46.0M
Profit Before Tax$43.0M$68.0M$-28.0M$61.0M$107.0M$225.0M$14.0M$-16.0M$158.0M$5.0M$11.0M$207.0M
Tax$26.3M$22.6M$23.6M$22.2M$9.6M$27.9M$24.1M$24.0M$24.6M$-18.8M$24.5M$24.1M
Net Profit$-544.0M$34.0M$-52.0M$21.0M$73.0M$156.0M$11.0M$-12.0M$120.0M$6.0M$8.0M$158.0M
EPS$-10.97$0.69$-1.06$0.42$1.46$3.14$0.21$-0.22$2.02$0.10$0.14$2.68

Over the 10 years reported for Howard Hughes Holdings Inc., borrowings increased from $2.7B in 2016 to $5.1B in 2025, cash stood at $1.5B in the latest year, shareholders' equity was $1.0M, current assets covered current liabilities 8.57 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$6.4B$6.7B$7.4B$8.4B$9.1B$9.6B$9.6B$9.6B$9.2B$10.6B
Current Assets$1.5B$1.4B$1.4B$1.2B$1.9B$2.0B$1.8B$2.5B$1.8B$1.6B
Cash$666.0M$861.0M$500.0M$423.0M$1.2B$843.0M$627.0M$630.0M$596.0M$1.5B
Inventory$0$-6.6B$198.0M$61.0M$57.0M$59.0M$22.0M$1.0M$1.0M$0
Receivables$457.0M$414.0M$272.0M$148.0M$447.0M$575.0M$657.0M$749.0M$687.0M$105.0M
Fixed Assets$18.0M$17.0M$16.0M$6.8B$56.0M$57.0M$47.0M$5.0M$6.0M$5.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$76.0M$77.0M$-7.4B$122.0M$3.0M$3.0M$3.0M$183.0M$170.0M$7.5B
Other Assets$0$1.0M$0$1.0M$0$0$0$0$0$0
Total Liabilities$3.8B$3.5B$4.1B$5.1B$5.4B$5.8B$6.0B$6.5B$6.4B$6.8B
Current Liabilities$572.0M$460.0M$779.0M$693.0M$852.0M$983.0M$499.0M$750.0M$588.0M$187.0M
Borrowings$2.7B$2.9B$3.2B$4.2B$4.4B$4.7B$4.8B$5.2B$5.1B$5.1B
Other Liabilities$1.1B$683.0M$936.0M$874.0M$1.1B$1.2B$1.2B$1.4B$1.2B$1.7B
Equity$0$0$0$0$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Reserves$2.6B$3.2B$3.1B$3.1B$3.7B$3.7B$3.5B$3.0B$2.8B$3.8B

For Howard Hughes Holdings Inc., operating cash flow was positive in 7 of 10 reported years; free cash flow in the latest year was $459.0M; free cash flow was positive in 7 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$59.0M$319.0M$211.0M$208.0M$-73.0M$-284.0M$325.0M$-248.0M$401.0M$462.0M
Investing Cash Flow$337.0M$109.0M$-1.1B$-1.2B$-430.0M$100.0M$-223.0M$-396.0M$-357.0M$-223.0M
Financing Cash Flow$-2.0M$85.0M$57.0M$15.0M$-5.0M$-126.0M$-393.0M$22.0M$-106.0M$878.0M
Net Cash Flow$220.0M$196.0M$-240.0M$-104.0M$623.0M$-26.0M$-118.0M$-90.0M$-11.0M$1.1B
Free Cash Flow$49.0M$312.0M$206.0M$201.0M$-74.0M$-286.0M$323.0M$-296.0M$351.0M$459.0M

Valuation & Return Ratios

MetricValue
PEG Ratio1.89
EV / EBITDA9.33
FCF Yield18.25%
Quick Ratio2.75
Interest Coverage2.43
Return 1Y-14.23%
Return 3Y-13.25%
Return 5Y-26.13%

Howard Hughes Holdings Inc. (HHH) financials — frequently asked questions

What is Howard Hughes Holdings Inc.'s annual revenue?

Howard Hughes Holdings Inc. (HHH) reported annual revenue of $1.5B in its most recent fiscal year.

What is Howard Hughes Holdings Inc.'s net profit?

Howard Hughes Holdings Inc. (HHH) reported net profit of $124.0M in its most recent fiscal year.

What is HHH EV/EBITDA?

Howard Hughes Holdings Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 9.33.

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