5 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 0.8% per year over the past 4 years.
Net income has grown slower than revenue (-12.4% vs 0.8% per year).
Operating margin has expanded, at 22.5% in the latest year.
Financial health
Total debt ($5.1B) exceeds cash ($1.5B); net debt is $3.6B.
Total debt has grown in line with revenue (-1.8% vs 0.8% per year).
Operating income covered interest expense 2.0× in the latest year.
Total debt is 9.9× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.5B
$124M
0.0%
22.5%
3.3%
1.2%
—
$5.1B
$1.5B
2024
$1.8B
$198M
0.0%
32.0%
7.1%
2.1%
—
$5.1B
$596M
2023
$909M
-$552M
0.0%
23.8%
-18.4%
-5.8%
—
$5.3B
$630M
2022
$1.5B
$185M
0.0%
28.5%
5.2%
1.9%
—
—
$610M
2021
$1.4B
—
0.0%
16.9%
—
—
—
—
$843M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Mar '26
$236M
$8M
0.0%
21.5%
0.2%
0.1%
—
—
$1.8B
Dec '25
$624M
$6M
0.0%
4.2%
0.2%
0.1%
—
$5.1B
$1.5B
Sep '25
$390M
$120M
0.0%
48.6%
3.2%
1.1%
—
—
$1.5B
Jun '25
$261M
-$12M
0.0%
26.0%
-0.3%
-0.1%
—
—
$1.4B
Mar '25
$199M
$11M
0.0%
24.0%
0.4%
0.1%
—
—
$494M
Dec '24
$984M
$156M
0.0%
26.5%
5.6%
1.7%
—
$5.1B
$596M
Sep '24
$327M
$73M
0.0%
60.6%
2.8%
0.8%
—
—
$401M
Jun '24
$283M
$21M
0.0%
31.2%
0.7%
0.2%
—
—
$433M
Mar '24
$156M
-$52M
0.0%
8.1%
-1.8%
-0.5%
—
—
$461M
Dec '23
$313M
$34M
0.0%
33.6%
1.1%
0.4%
—
$5.3B
$630M
Sep '23
$228M
-$544M
0.0%
26.0%
-18.4%
-5.8%
—
—
$485M
Jun '23
$186M
-$19M
0.0%
7.5%
—
—
—
—
$389M
Mar '23
$196M
-$23M
0.0%
7.6%
—
—
—
—
$418M
Dec '22
$482M
—
0.0%
28.3%
0.0%
0.0%
—
—
$610M
Sep '22
$640M
—
0.0%
24.6%
—
—
—
—
$355M
Valuation over time
How the market has priced HHH against its own fundamentals since 2023-08 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 25.4× (Aug '23) to 38.2× (Nov '26).
The price-to-sales ratio has risen from 3.1× (Aug '23) to 3.2× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is HHH growing its revenue and profit?
Over the past 4 years, Howard Hughes Holdings Inc.'s revenue has grown 0.8% per year, and net income declined 12.4% per year. These are computed facts, not advice.
How much debt does HHH have?
As of FY2025, Howard Hughes Holdings Inc. reported $5.1B of total debt against $1.5B of cash; operating income covered interest expense 2.0×.
What is HHH's profit margin?
In FY2025, gross margin was —, operating margin 22.5%, and net margin 8.4%.
What is HHH's P/E ratio?
Howard Hughes Holdings Inc.'s P/E (TTM) is 16.18 as of the 2026-11-04 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the HHH stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 38.2× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.