Hovnanian Enterprises, Inc. (HOV) Balance Sheet
HOV balance sheet, FY2025
October 31, 2025 · U.S. dollars$2.63B assets = $1.80B liabilities + $830.9M equity
Both columns are drawn to the same scale: what HOV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HOV financial health
Current ratio3.92
Comfortable · current assets cover current liabilities 3.92×
Debt / equity1.12
Moderate leverage · $1.12 of debt for each $1 of equity
Equity / assets31.5%
Balanced · of assets funded by shareholders
Cash / debt29.3%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
HOV balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.38BFY2016 | $2.63BFY2025 | +1.1%/yr | |
| Total liabilities | $2.51BFY2016 | $1.80BFY2025 | −3.6%/yr | |
| Shareholders’ equity | −$128.5MFY2016 | $830.9MFY2025 | — | |
| Cash & short-term investments | $346.8MFY2016 | $272.8MFY2025 | −2.6%/yr | |
| Total debt | $1.89BFY2016 | $930.2MFY2025 | −7.6%/yr | |
| Net cash (debt) | −$1.54BFY2016 | −$657.4MFY2025 | +$884.7M | |
| Working capital | $1.59BFY2016 | $1.45BFY2025 | −$133.7M | |
| Book value per share | −$21.79FY2016 | $128.85FY2025 | — | |
| Current ratio | 3.49FY2016 | 3.92FY2025 | +0.43 | |
| Debt / equity | 7.88FY2021 | 1.12FY2025 | −6.76 | |
| Shares outstanding | 5.9MFY2016 | 6.4MFY2025 | +1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HOV assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HOV liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HOV debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HOV balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $272.8M | $210.0M | $434.1M | $326.2M | $246.0M | $262.5M | $131.0M | $187.9M | $469.3M | $346.8M |
| Cash & equivalents | $272.8M | $210.0M | $434.1M | $326.2M | $246.0M | $262.5M | $131.0M | $187.9M | $469.3M | $346.8M |
| Short-term investments | — | — | — | −$14.0M | — | — | — | $38.2M | $24.4M | $22.9M |
| Receivables | $26.5M | $29.4M | $28.0M | $37.8M | $39.9M | $33.7M | $44.9M | $35.2M | $58.1M | $49.7M |
| Inventory | $1.64B | $1.64B | $1.35B | $1.52B | $1.25B | $1.20B | $1.29B | $1.08B | $1.01B | $1.28B |
| Other current assets | $12.6M | $0 | $8.4M | $77.3M | $72.3M | $73.4M | $66.6M | $52.0M | $39.1M | $542.9M |
| Total current assets | $1.95B | $458.2M | $1.82B | $1.96B | $1.61B | $1.57B | $1.53B | $1.35B | $1.58B | $2.22B |
| Property, plant & equipment (net) | $50.5M | $72.2M | $33.9M | $25.8M | $18.7M | $18.2M | $20.1M | $20.3M | $52.9M | $50.3M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $163.5M | $142.9M | $97.9M | $74.9M | $60.9M | $103.2M | $127.0M | $123.7M | $115.1M | $100.5M |
| Other non-current assets | $470.6M | $1.93B | $541.4M | $500.8M | $628.4M | $140.6M | $199.3M | $164.9M | $156.5M | $6.1M |
| Total assets | $2.63B | $2.61B | $2.49B | $2.56B | $2.32B | $1.83B | $1.88B | $1.66B | $1.90B | $2.38B |
| Liabilities | ||||||||||
| Accounts payable | $438.7M | $433.3M | $415.5M | $440.0M | $426.4M | $359.3M | $320.2M | $304.9M | $128.8M | $160.9M |
| Short-term debt | $11.0M | $11.1M | $8.5M | $3.2M | $9.0M | $6.8M | $11.8M | $6.5M | $301.3M | $52.0M |
| Deferred revenue | $46.4M | $41.6M | $51.4M | $74.0M | $68.3M | $48.3M | $35.9M | $30.1M | $33.8M | $37.4M |
| Total current liabilities | $497.2M | $494.9M | $495.7M | $549.6M | $526.7M | $447.0M | $358.4M | $338.3M | $423.1M | $636.7M |
| Long-term debt | $930.2M | $986.9M | $1.14B | $1.29B | $1.37B | $1.57B | $203.6M | $95.6M | $77.5M | $97.8M |
| Lease obligations | — | — | — | — | $19.0M | $21.0M | $0 | — | — | — |
| Other long-term liabilities | $375.6M | $323.4M | $272.4M | $338.1M | $245.0M | $250.2M | $1.81B | $1.68B | $1.86B | $1.77B |
| Total liabilities | $1.80B | $1.81B | $1.91B | $2.18B | $2.15B | $2.26B | $2.37B | $2.12B | $2.36B | $2.51B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $73,000 | $72,000 | $70,000 | $69,000 | $68,000 | $67,000 | $67,000 | $1.6M | $1.6M | $1.6M |
| Retained earnings (deficit) | $127.3M | $74.1M | −$157.2M | −$352.4M | −$567.2M | −$1.18B | −$1.23B | −$1.18B | −$1.19B | −$856.2M |
| Treasury stock | — | — | — | −$127.6M | −$115.4M | −$115.4M | −$115.4M | −$115.4M | −$115.4M | −$115.4M |
| Accumulated other comprehensive income | — | — | — | — | $0 | $0 | $0 | −$39.8M | −$69.3M | −$69.7M |
| Minority interest | — | $0 | $53,000 | $15,000 | $487,000 | — | $687,000 | $0 | $0 | $0 |
| Total shareholders' equity | $830.9M | $800.3M | $581.7M | $383.1M | $175.4M | −$436.1M | −$489.8M | −$453.5M | −$460.4M | −$128.5M |
| Key figures | ||||||||||
| Total debt | $930.2M | $1.02B | $1.14B | $1.29B | $1.38B | $1.57B | $1.70B | $1.57B | $1.76B | $1.89B |
| Net cash (debt) | −$657.4M | −$807.8M | −$708.9M | −$968.3M | −$1.14B | −$1.31B | −$1.57B | −$1.38B | −$1.29B | −$1.54B |
| Working capital | $1.45B | −$36.7M | $1.32B | $1.41B | $1.09B | $1.12B | $1.18B | $1.01B | $1.15B | $1.59B |
| Tangible book value | $830.9M | $800.3M | $581.7M | $383.1M | $175.4M | −$436.1M | −$489.8M | −$453.5M | −$460.4M | −$128.5M |
| Book value per share | $128.85 | $114.22 | $87.27 | $56.93 | $27.43 | −$66.24 | −$82.07 | −$74.29 | −$77.92 | −$21.79 |
| Shares outstanding | 6.4M | 7.0M | 6.7M | 6.7M | 6.4M | 6.6M | 6.0M | 6.1M | 5.9M | 5.9M |
| Current ratio | 3.92 | 0.93 | 3.67 | 3.57 | 3.06 | 3.50 | 4.28 | 4.00 | 3.73 | 3.49 |
| Quick ratio | 0.60 | 0.48 | 0.93 | 0.66 | 0.54 | 0.66 | 0.49 | 0.66 | 1.25 | 0.62 |
| Debt / equity | 1.12 | 1.27 | 1.96 | 3.38 | 7.88 | — | — | — | — | — |
| Equity / assets | 31.5% | 30.7% | 23.3% | 15.0% | 7.6% | −23.9% | −26.0% | −27.3% | −24.2% | −5.4% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $258.3M | $310.9M | $339.9M | $272.8M | $146.6M | $74.0M | $94.3M | $210.0M | $122.0M | $182.0M | $183.1M | $434.1M |
| Cash & equivalents | $258.3M | $310.9M | $339.9M | $272.8M | $146.6M | $74.0M | $94.3M | $210.0M | $122.0M | $182.0M | $183.1M | $434.1M |
| Short-term investments | — | — | — | — | — | — | $8.4M | — | −$52.2M | — | — | — |
| Receivables | $49,603 | $47.4M | $40.2M | $26.5M | $29.2M | $24.7M | $74.2M | $29.4M | $48.1M | $25.0M | $24.2M | $28.0M |
| Inventory | $1.79B | $1.72B | $1.65B | $1.64B | $1.69B | $1.74B | $1.67B | $1.64B | $1.65B | $1.42B | $1.46B | $1.35B |
| Other current assets | $0 | $9.9M | $9.7M | $12.6M | $177.6M | $145.9M | $8.4M | $7.9M | $9.6M | $126.0M | $133.8M | $8.4M |
| Total current assets | $2.05B | $2.09B | $2.04B | $1.95B | $2.05B | $1.99B | $1.84B | $1.89B | $1.83B | $1.75B | $1.80B | $1.82B |
| Property, plant & equipment (net) | $56.2M | $56.0M | $56.6M | $50.5M | $51.6M | $69.4M | $44.8M | $43.4M | $66.1M | $39.6M | $61.3M | $33.9M |
| Goodwill & intangible assets | $31.7M | $31.7M | $31.7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $155.1M | $148.5M | $146.6M | $163.5M | $218.4M | $183.5M | $172.7M | $142.9M | $126.3M | $150.7M | $110.6M | $97.9M |
| Other non-current assets | $565.3M | $500.8M | $462.0M | $470.6M | $313.0M | $311.6M | $472.4M | $527.2M | $517.9M | $377.4M | $363.8M | $541.4M |
| Total assets | $2.86B | $2.83B | $2.73B | $2.63B | $2.63B | $2.55B | $2.53B | $2.61B | $2.54B | $2.32B | $2.34B | $2.49B |
| Liabilities | ||||||||||||
| Accounts payable | $608.2M | $457.1M | $420.4M | $438.7M | $578.1M | $418.7M | $360.4M | $433.3M | $419.8M | $379.4M | $463.4M | $415.5M |
| Short-term debt | — | $6.1M | $8.8M | $11.0M | $2.5M | $5.2M | $7.9M | $11.1M | $2.5M | $4.6M | $6.3M | $8.5M |
| Deferred revenue | $235,355 | $206.1M | $176.8M | $46.4M | $35.5M | $45.7M | $42.6M | $41.6M | $48.8M | $45.6M | $51.8M | $51.4M |
| Total current liabilities | $876.6M | $676.2M | $628.6M | $497.2M | $618.5M | $599.1M | $441.9M | $494.9M | $663.0M | $544.1M | $565.6M | $495.7M |
| Long-term debt | $934.9M | $934.6M | $929.9M | $930.2M | $915.4M | $942.4M | $981.3M | $986.9M | $1.01B | $1.02B | $1.03B | $1.14B |
| Other long-term liabilities | $228.6M | $390.5M | $338.6M | $375.6M | $260.0M | $191.3M | $298.6M | $323.4M | $160.0M | $107.9M | $229.9M | $272.4M |
| Total liabilities | $2.04B | $2.00B | $1.90B | $1.80B | $1.79B | $1.73B | $1.72B | $1.81B | $1.84B | $1.67B | $1.73B | $1.91B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $75,000 | $74,000 | $74,000 | $73,000 | $73,000 | $72,000 | $72,000 | $72,000 | $72,000 | $70,000 | $70,000 | $70,000 |
| Retained earnings (deficit) | $138.1M | $142.6M | $145.5M | $127.3M | $130.7M | $116.7M | $99.7M | $74.1M | −$17.5M | −$87.8M | −$136.0M | −$157.2M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | −$72,000 | $0 | −$70,000 | −$135.3M |
| Minority interest | $2.3M | $2.7M | $1.9M | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $818.7M | $824.9M | $835.7M | $830.9M | $835.4M | $820.4M | $811.4M | $800.3M | $703.4M | $647.0M | $607.1M | $581.7M |
| Key figures | ||||||||||||
| Total debt | $934.9M | $934.6M | $929.9M | $930.2M | $941.3M | $965.7M | $981.3M | $986.9M | $1.04B | $1.04B | $1.06B | $1.14B |
| Net cash (debt) | −$676.6M | −$623.7M | −$589.9M | −$657.4M | −$794.7M | −$891.8M | −$887.1M | −$776.9M | −$919.0M | −$862.4M | −$876.2M | −$708.9M |
| Working capital | $1.18B | $1.42B | $1.41B | $1.45B | $1.43B | $1.39B | $1.40B | $1.40B | $1.17B | $1.21B | $1.24B | $1.32B |
| Tangible book value | $787.0M | $793.2M | $804.0M | $830.9M | $835.4M | $820.4M | $811.4M | $800.3M | $703.4M | $647.0M | $607.1M | $581.7M |
| Book value per share | $127.68 | $128.57 | $128.77 | $128.47 | $130.55 | $118.02 | $114.75 | $114.06 | $99.80 | $93.75 | $87.51 | $86.00 |
| Shares outstanding | 6.4M | 6.4M | 6.5M | 6.5M | 6.4M | 7.0M | 7.1M | 7.0M | 7.0M | 6.9M | 6.9M | 6.8M |
| Current ratio | 2.34 | 3.09 | 3.24 | 3.92 | 3.31 | 3.32 | 4.17 | 3.82 | 2.76 | 3.22 | 3.19 | 3.67 |
| Quick ratio | 0.29 | 0.53 | 0.60 | 0.60 | 0.28 | 0.16 | 0.38 | 0.48 | 0.26 | 0.38 | 0.37 | 0.93 |
| Debt / equity | 1.14 | 1.13 | 1.11 | 1.12 | 1.13 | 1.18 | 1.21 | 1.23 | 1.48 | 1.61 | 1.74 | 1.96 |
| Equity / assets | 28.6% | 29.2% | 30.6% | 31.5% | 31.8% | 32.1% | 32.0% | 30.7% | 27.7% | 27.9% | 25.9% | 23.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 22, 2025); data from EODHD.
HOV financial position
At the end of fiscal 2025 (October 31, 2025), Hovnanian Enterprises had total assets of $2.6 billion (up 1.1% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $830.9 million. It held $272.8 million in cash and short-term investments against $930.2 million of debt, net debt of $657.4 million. Its current ratio was 3.92. In the latest quarter (ended July 31, 2026) total assets were $2.9 billion and equity $818.7 million.
Related: HOV income statement, HOV cash flow statement, HOV key metrics. See the HOV stock overview for the latest quote and news.
HOV balance sheet FAQ
What are Hovnanian Enterprises's total assets?
Hovnanian Enterprises reported total assets of $2.6 billion at the end of fiscal 2025 (October 31, 2025), compared with $2.6 billion a year earlier.
How much debt does Hovnanian Enterprises have?
Hovnanian Enterprises had $930.2 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.12.
How much cash does Hovnanian Enterprises have?
Hovnanian Enterprises held $272.8 million in cash and short-term investments at the end of fiscal 2025; with $930.2 million of debt that is net debt of $657.4 million.
What is Hovnanian Enterprises's book value?
Hovnanian Enterprises's shareholders' equity (book value) was $830.9 million at the end of fiscal 2025, or $128.85 per share.
What is Hovnanian Enterprises's current ratio?
Hovnanian Enterprises had current assets of $1.9 billion and current liabilities of $497.2 million, a current ratio of 3.92 (it can cover its short-term obligations).