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Howard Hughes Holdings Inc.

HHH Real Estate Real Estate Diversified

Howard Hughes Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, down 15.8% from fiscal 2024.

Revenue
+63.1%
EPS
−119.2%
Free cash flow
+178.2%
Total debt
+7.88%

Quarter to September 2026, against a year earlier

77.45 0.58 −0.74%
Market cap
$4.7B
P/E
30.6×
Fwd P/E
18.2×
Dividend yield
—
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 2.14
Sold, $m 1.11
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — 1 — — — — — 2 — —
Sell — — — 1 — 1 — — 1 — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 4,660.00
Revenue ttm 2,618.99
Net income ttm 170.33
Free cash flow ttm 932.57
Net debt Q 5,703.95
Valuation
P/E 30.61
Forward P/E 18.20
Price / sales 1.75
Forward P/S Powerpack
Price / FCF 4.89
Price / book 1.12
Financial health
Current ratio Q 0.00
Debt / equity Q 1.40
Interest coverage Q 3.13
Growth
Revenue growth Q +63.05% (above 0%: growing)
Operating income growth Q −17.20% (below 0%: shrinking)
EPS, this year +89.24% (at or above 15%: strong)
EPS, next year A −11.92% (below 0%: weak)
Revenue, next year A +72.56% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +60.17% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.1×, against a ten-year median of 6.5×; over the ten years it ranged from 1.8× in 2026 to 12.6× in 2021.
P/E against its own 10 years 47.87%
10-year low 10-year high
P/S against its own 10 years 4.77%
10-year low 10-year high
P/B against its own 10 years 30.32%
10-year low 10-year high
EV/Sales against its own 10 years 3.08%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,192 1,168 2,267 4,903
Receivables 652 569 594 1,520
Inventory — — — —
Other — — — —
1,844 1,737 2,861 6,423
2023 2024 2025 Q'26
Payables 1,054 1,094 1,518 1,436
ST’ Debt — — — —
Other — — — —
1,054 1,094 1,518 1,436

Compound Annual Growth %

10y 5y 3y
Sales 6.35% 16.09% (0.33%)
Cash Flow 34.46% 0.00% 12.44%
Earnings (0.22%) 0.00% (12.44%)
Book Value 4.98% 0.68% 2.14%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.49 Actual 2.68

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.56 2.02 Beat by 0.46
Q4 FY25 0.31 0.10 Miss by 0.21
Q1 FY26 0.08 0.14 Beat by 0.06
Q2 FY26 0.49 2.68 Beat by 2.19
Q3 FY26 1.03 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.14 2.68 (0.39) — —
’25 0.21 (0.22) 2.02 0.10 2.21
’24 (1.06) 0.42 1.46 3.12 3.96
’23 (0.46) (0.39) (10.97) 0.69 (11.13)
’22 0.04 0.42 2.19 1.07 3.65
’21 (1.20) 0.09 0.07 2.09 1.03
’20 (2.88) (0.61) 2.51 (0.12) (0.50)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 236 1,122 636 — —
’25 199 261 390 624 1,475
’24 156 283 327 984 1,751
’23 196 223 228 261 909
’22 210 277 640 363 1,489
’21 191 212 219 806 1,428
’20 175 156 154 214 699
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (229) 507 295 — —
’25 (225) 177 150 360 462
’24 (171) (18) 248 337 397
’23 (144) (106) (109) 101 (258)
’22 (101) 6 311 110 325
’21 (85) 5 40 (244) (284)
’20 (73) (25) (71) 97 (73)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (267) 620 295 — —
’25 (288) 134 106 330 282
’24 (216) (111) 193 306 171
’23 (219) (210) (111) 77 (463)
’22 (194) (75) 205 157 93
’21 (130) (43) 225 (326) (274)
’20 (218) (132) (200) 69 (481)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,035 1,100 1,065 1,301 699 1,428 1,489 909 1,751 1,475 2,619 +4.0% 2,545 2,809 4,130 +40.9%
Gross margin, % 45.64 42.50 37.34 35.18 30.04 35.76 43.11 49.76 41.81 43.57 0.00 (2.1) pt
EBT 321 121 73 104 8 64 335 110 365 161 224 (7.3%)
EBT margin, % 30.99 10.98 6.88 7.96 1.21 4.49 22.48 12.09 20.87 10.95 8.53 (20.0) pt
Net income 202 167 58 74 (3) 49 185 (552) 197 124 170 (5.3%)
Per share, $
Per share, $ Revenue 26.21 26.60 24.74 30.15 13.32 26.15 29.49 18.33 35.24 26.47 44.38 +0.1%
Earnings 5.12 4.07 1.32 1.71 (0.50) 1.03 3.65 (11.13) 3.96 2.22 2.53 (8.9%)
Cash flow 6.05 4.00 4.89 4.82 (1.39) (5.20) 6.44 (5.21) 7.98 8.30 15.80 +3.6%
Capex (11.09) (7.52) (19.98) (28.63) (7.76) 0.18 (4.59) (4.13) (4.53) (3.23) 0.00 (12.8%)
Free cash flow (5.03) (3.52) (15.09) (23.82) (9.15) (5.02) 1.85 (9.34) 3.45 5.06 15.80 n/m
Book value 65.11 77.09 75.24 77.27 70.73 67.97 71.39 61.71 57.19 68.95 69.10 +0.6%
Shares, m 39 41 43 43 53 55 51 50 50 56 58 +3.9%
Valuation, ×
Valuation, × P/E 20.72 32.27 70.97 71.16 0.00 93.03 19.65 0.00 19.52 37.63 30.61 36.5
P/S 4.05 4.79 3.79 4.04 5.69 3.73 2.48 4.43 2.18 3.01 1.75 3.8
P/B 1.63 1.65 1.25 1.57 1.07 1.44 1.02 1.32 1.34 1.16 1.12 1.3
EV/Sales 6.00 6.51 6.10 6.71 10.04 6.10 4.76 8.79 4.44 4.94 2.05 6.4
EV/FCF (31.27) (49.29) (9.99) (8.49) (14.61) (31.78) 75.98 (17.24) 45.39 25.83 5.75 (1.5)
Cash, $m
Cash, $m Operating cash flow 239 166 211 208 (73) (284) 325 (258) 397 462 933 +7.6%
Capex (438) (311) (860) (1,235) (408) 10 (232) (205) (225) (180) 1 (9.4%)
Free cash flow (199) (145) (649) (1,027) (481) (274) 93 (463) 171 282 933 n/m
Balance, $m
Balance, $m Working capital 254 646 184 296 775 718 977 790 643 1,343 6,423 +20.3%
Net debt 2,025 1,894 2,457 3,476 3,044 3,375 3,402 3,955 3,959 2,843 5,704 +3.8%
Shareholders’ equity 2,572 3,189 3,238 3,333 3,715 3,711 3,606 3,059 2,842 3,842 4,078 +4.6%
Returns, %
Returns, % ROA 3.35 2.57 0.81 0.94 (0.30) 0.60 1.92 (5.75) 2.10 1.25 1.27 (2.1) pt
ROIC 4.44 2.73 1.17 1.38 (1.11) 2.13 3.78 1.93 5.15 3.10 3.02 (1.3) pt
ROE 8.20 5.85 1.77 2.25 (0.74) 1.51 5.04 (16.56) 6.70 3.71 4.33 (4.5) pt
People
People Employees 1,100 1,100 1,400 1,500 600 530 565 608 545 500 — (8.4%)
Revenue/emp, $m 0.94 1.00 0.76 0.87 1.17 2.69 2.64 1.49 3.21 2.95 — +13.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Howard Hughes Holdings Inc. vs peers in the Real Estate sector (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KRG Kite Realty Group Trust $5.1B 15.7× 25.3× −7.21% (below 0%: shrinking) n/m −65.52% (below 0%: shrinking) 73.03% 7.13% Compare
CIGI Colliers International Group Inc. $4.9B 41.5× 36.5× +11.93% (above 0%: growing) +20.59% (above 0%: growing) +285.13% (above 0%: growing) 38.92% 6.15% Compare
CUZ Cousins Properties Incorporated $4.9B 317× 137× +4.47% (above 0%: growing) +106.60% (above 0%: growing) +232.54% (above 0%: growing) 69.13% 25.47% Compare
STWD STARWOOD PROPERTY TRUST, INC. $4.8B — (loss-making) 17.1× +11.65% (above 0%: growing) n/m −20.42% (below 0%: shrinking) 29.17% (53.84%) Compare
HHH Howard Hughes Holdings Inc. $4.7B 30.6× 18.2× +63.05% (above 0%: growing) n/m +178.22% (above 0%: growing) 0.00% 24.67%
EPR EPR Properties $4.6B 16.3× 18.8× +11.96% (above 0%: growing) +63.39% (above 0%: growing) −34.67% (below 0%: shrinking) 92.31% 68.23% Compare
COLD Americold Realty Trust Inc. $4.5B 19.4× — (loss-making) +4.20% (above 0%: growing) n/m +237.07% (above 0%: growing) 32.79% 107.39% Compare
SKT Tanger Inc. $4.4B 34.0× 35.5× +8.62% (above 0%: growing) +9.29% (above 0%: growing) −86.16% (below 0%: shrinking) 70.48% 30.87% Compare
APLE Apple Hospitality REIT, Inc. $4.3B 23.9× 25.7× +6.54% (above 0%: growing) +23.81% (above 0%: growing) +8.67% (above 0%: growing) 0.00% 20.64% Compare
Median of peers $4.7B 23.9× 25.7× +7.58% +23.81% −5.87% 54.03% 23.05%

All 243 Real Estate stocks →

Howard Hughes Holdings Inc. (HHH) Latest News

6 Nov

Impact 4 · · Moby transcript
Impact 3 · · GuruFocus.com

5 Nov

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

4 Nov

Impact 4 · · Insider Monkey

30 Oct

Impact 3 · · Zacks

29 Oct

Impact 3 · · Zacks

27 Oct

Impact 4 · · Simply Wall St.

26 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Investing.com

23 Oct

Impact 3 · · PR Newswire

15 Oct

Impact 3 · · StockStory

13 Oct

Impact 4 · · Zacks

8 Oct

Impact 4 · · Simply Wall St.

4 Oct

Impact 4 · · MarketBeat

1 Oct

Impact 4 · · Benzinga

28 Sep

Impact 3 · · Zacks

26 Sep

Impact 3 ·

25 Sep

Impact 4 · · GlobeNewswire

24 Sep

Impact 3 · · Simply Wall St.

21 Sep

Impact 4 · · Benzinga

19 Sep

Impact 3 ·

10 Sep

Impact 3 ·

20 Aug

Impact 4 ·

19 Aug

Impact 4 ·

17 Aug

Impact 3 ·
Impact 3 · · 24/7 Wall St.

8 Aug

Impact 3 · · MarketBeat transcript

6 Aug

Impact 4 · transcript

HHH metrics, ten years each

stockrow.com/HHH · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com