Howard Hughes Holdings Inc. (HHH) Key Metrics
HHH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.10B
- Enterprise value
- $6.60B
- P/E (TTM)
- 13.9 10-yr median 35.0
- Forward P/E
- —
- PEG ratio
- 5.55
- Price / sales
- 1.7 10-yr median 3.9
- Price / book
- 1.0 10-yr median 1.4
- EV / EBITDA
- 8.5 10-yr median 21.3
- Dividend yield
- —
- Beta
- 1.14
HHH key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsHHH valuation Price multiples at each fiscal year-end price.
HHH returns How much profit the business earns on the capital it uses.
HHH per-share figures Results divided by the shares outstanding at year-end.
HHH financial health Debt, liquidity and how easily interest is covered.
HHH efficiency & capital use Working capital cycle and where the cash goes.
HHH valuation history
HHH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HHH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HHH cash returned to shareholders
HHH price vs earnings per share
HHH key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.72B | $3.85B | $4.04B | $3.68B | $5.30B | $3.94B | $5.23B | $4.02B | $5.39B | $4.65B |
| Enterprise value | $8.36B | $8.39B | $8.57B | $12.38B | $9.39B | $7.63B | $9.19B | $7.03B | $7.68B | $6.90B |
| P/E ratio | 38.1 | 19.5 | — | 20.0 | 94.5 | — | 70.8 | 70.6 | 32.0 | 23.0 |
| Price / sales | 3.2 | 2.2 | 3.9 | 2.5 | 3.7 | 5.6 | 4.0 | 3.8 | 4.9 | 4.5 |
| Price / book | 1.2 | 1.4 | 1.4 | 1.0 | 1.4 | 1.1 | 1.6 | 1.2 | 1.7 | 1.8 |
| Price / free cash flow | 10.3 | 11.0 | — | 11.4 | — | — | 26.1 | 19.5 | 17.3 | 94.4 |
| Price / operating cash flow | 10.2 | 9.6 | — | 11.3 | — | — | 25.2 | 19.1 | 16.9 | 78.9 |
| EV / sales | 5.7 | 4.8 | 8.4 | 8.3 | 6.6 | 10.9 | 7.1 | 6.6 | 7.0 | 6.7 |
| EV / EBITDA | 16.2 | 11.8 | — | 20.6 | 23.5 | 21.3 | 25.2 | 29.9 | 24.3 | 14.4 |
| EV / free cash flow | 18.2 | 23.9 | — | 38.3 | — | — | 45.8 | 34.1 | 24.6 | 140.2 |
| Earnings yield | 2.6% | 5.1% | −13.6% | 5.0% | 1.1% | −0.7% | 1.4% | 1.4% | 3.1% | 4.4% |
| Free cash flow yield | 9.7% | 9.1% | −7.3% | 8.8% | −5.4% | −1.9% | 3.8% | 5.1% | 5.8% | 1.1% |
| Dividend yield | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.1% | 0.0% | 0.0% | 11.0% | 1.5% | 0.0% | 1.0% | 1.5% | 0.0% | 0.0% |
| Share price at fiscal year-end | $79.77 | $76.92 | $81.55 | $72.85 | $97.03 | $75.24 | $120.88 | $93.06 | $125.14 | $108.77 |
| Per share | ||||||||||
| Revenue per share | $24.95 | $34.93 | $20.66 | $29.46 | $26.13 | $13.37 | $30.03 | $24.62 | $25.53 | $24.22 |
| Earnings per share | $2.10 | $3.94 | −$11.13 | $3.65 | $1.03 | −$0.50 | $1.71 | $1.32 | $3.91 | $4.73 |
| Operating cash flow per share | $7.82 | $8.00 | −$5.01 | $6.43 | −$5.20 | −$1.39 | $4.80 | $4.87 | $7.40 | $1.38 |
| Free cash flow per share | $7.76 | $7.00 | −$5.97 | $6.39 | −$5.23 | −$1.42 | $4.64 | $4.77 | $7.24 | $1.15 |
| Cash per share | $24.84 | $11.89 | $12.70 | $12.39 | $15.43 | $19.40 | $9.76 | $11.56 | $19.98 | $15.58 |
| Book value per share | $63.86 | $55.40 | $60.37 | $71.33 | $68.31 | $71.02 | $76.96 | $74.89 | $74.00 | $60.18 |
| Tangible book value per share | $63.68 | $54.67 | $59.63 | $70.04 | $66.96 | $69.45 | $74.89 | $73.48 | $72.44 | $59.21 |
| Dividends per share | — | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 |
| Capex per share | $0.06 | $1.00 | $0.96 | $0.04 | $0.03 | $0.03 | $0.16 | $0.10 | $0.16 | $0.23 |
| Debt per share | $86.51 | $102.42 | $103.93 | $184.51 | $90.15 | $90.02 | $101.11 | $81.15 | $73.19 | $68.37 |
| Shares outstanding | 59.1M | 50.1M | 49.6M | 50.6M | 54.6M | 52.3M | 43.3M | 43.2M | 43.1M | 42.7M |
| Change in shares outstanding | +18.0% | +1.1% | −1.9% | −7.5% | +4.5% | +20.8% | +0.2% | +0.3% | +0.8% | +8.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 3.8% | 6.9% | −16.7% | 5.0% | 1.5% | −0.7% | 2.3% | 1.8% | 5.8% | 8.2% |
| Return on invested capital (ROIC) | 2.6% | 5.9% | −4.2% | 3.2% | 2.4% | −0.8% | 1.6% | 1.4% | 4.2% | 4.4% |
| Return on assets (ROA) | 1.2% | 2.1% | −5.8% | 1.9% | 0.6% | −0.3% | 0.9% | 0.8% | 2.6% | 3.3% |
| Return on tangible assets | 1.2% | 2.2% | −5.8% | 1.9% | 0.6% | −0.3% | 0.9% | 0.8% | 2.5% | 3.2% |
| Free cash flow margin | 31.1% | 20.0% | −28.9% | 21.7% | −20.0% | −10.6% | 15.4% | 19.4% | 28.4% | 4.8% |
| Income quality (OCF / net income) | 3.73 | 2.03 | — | 1.76 | −5.06 | — | 2.81 | 3.69 | 1.89 | 0.29 |
| Financial health | ||||||||||
| Total debt | $5.11B | $5.13B | $5.15B | $9.33B | $4.93B | $4.71B | $4.38B | $3.51B | $3.15B | $2.92B |
| Cash & short-term investments | $1.47B | $596.1M | $629.7M | $626.7M | $843.2M | $1.01B | $422.9M | $499.7M | $861.1M | $665.5M |
| Net debt | $3.65B | $4.54B | $4.52B | $8.70B | $4.08B | $3.69B | $3.96B | $3.01B | $2.29B | $2.26B |
| Debt / equity | 1.35 | 1.85 | 1.72 | 2.59 | 1.32 | 1.27 | 1.31 | 1.08 | 0.99 | 1.14 |
| Debt / assets | 0.48 | 0.56 | 0.54 | 0.97 | 0.51 | 0.52 | 0.52 | 0.48 | 0.47 | 0.46 |
| Net debt / EBITDA | 7.04 | 6.39 | — | 14.45 | 10.23 | 10.31 | 10.85 | 12.80 | 7.25 | 4.69 |
| Current ratio | 8.59 | 3.02 | 3.28 | 2.07 | 2.03 | 2.24 | 1.70 | 1.76 | 3.03 | 2.61 |
| Quick ratio | 8.57 | 3.02 | 3.28 | 2.04 | 1.97 | 2.17 | 1.62 | 1.51 | 17.38 | 2.61 |
| Interest coverage | 1.5 | 3.4 | -3.4 | 3.8 | 1.9 | -0.9 | 1.4 | 1.3 | 3.4 | 5.0 |
| Working capital | $1.42B | $1.19B | $1.71B | $1.01B | $1.02B | $1.05B | $516.8M | $596.1M | $932.5M | $920.4M |
| Invested capital | $7.42B | $7.31B | $7.52B | $12.31B | $7.82B | $7.41B | $7.29B | $6.25B | $5.48B | $4.83B |
| Tangible asset value | $3.83B | $2.81B | $3.02B | $3.54B | $3.66B | $3.63B | $3.24B | $3.18B | $3.12B | $2.53B |
| Net current asset value | −$5.19B | −$4.59B | −$4.06B | −$4.05B | −$3.85B | −$3.52B | −$3.83B | −$2.74B | −$2.15B | −$2.30B |
| Graham number | $54.87 | $70.12 | — | $76.53 | $39.72 | — | $54.38 | $47.14 | $80.67 | $80.07 |
| Graham net-net per share | −$88.76 | −$104.91 | −$107.44 | −$97.40 | −$84.45 | −$79.15 | −$101.15 | −$77.23 | −$131.79 | −$70.45 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | $0 | $0 | $12,000 | $0 |
| Share buybacks (net) | $3.6M | $0 | $0 | $403.9M | $81.1M | $0 | $53.9M | $58.7M | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 0.8% | 0.0% | — | 124.9% | — | — | 26.9% | 28.5% | 0.0% | 0.0% |
| Capex / revenue | 0.2% | 2.9% | 4.6% | 0.1% | 0.1% | 0.2% | 0.5% | 0.4% | 0.6% | 0.9% |
| Capex / operating cash flow | 0.8% | 12.5% | — | 0.6% | — | — | 3.3% | 2.1% | 2.2% | 16.4% |
| Capex / depreciation | 0.02 | 0.28 | 0.28 | 0.01 | 0.01 | 0.01 | 0.04 | 0.03 | 0.05 | 0.10 |
| Stock-based compensation / revenue | 1.3% | — | 70.7% | −0.4% | 3.5% | −32.0% | −3.6% | −1.8% | 0.4% | −9.0% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 8.3% | 5.2% | 8.9% | 5.5% | 6.5% | 16.8% | 14.3% | 9.8% | 8.2% | 8.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 98.0 | 149.7 | 236.7 | 130.0 | 102.7 | 170.1 | 79.8 | 109.5 | 92.9 | 58.9 |
| Days of inventory on hand | 0.7 | 0.2 | 7.4 | 17.6 | 23.0 | 43.9 | 54.5 | -1,623.0 | -1,692.4 | — |
| Days payables outstanding | 17.9 | 17.2 | 25.9 | 23.5 | 20.2 | 284.1 | 318.4 | 206.8 | 156.0 | 311.8 |
| Cash conversion cycle (days) | 80.8 | 132.7 | 218.3 | 124.2 | 105.5 | -70.1 | -184.0 | -1,720.2 | -1,755.5 | -252.9 |
| Receivables turnover | 3.72 | 2.44 | 1.54 | 2.81 | 3.55 | 2.15 | 4.57 | 3.33 | 3.93 | 6.19 |
| Payables turnover | 20.43 | 21.24 | 14.09 | 15.55 | 18.09 | 1.28 | 1.15 | 1.77 | 2.34 | 1.17 |
| Inventory turnover | 537.33 | 1,703.58 | 49.19 | 20.70 | 15.88 | 8.32 | 6.69 | — | — | — |
| Asset turnover | 0.15 | 0.19 | 0.11 | 0.16 | 0.15 | 0.08 | 0.16 | 0.15 | 0.17 | 0.17 |
| Average receivables | $396.1M | $717.8M | $664.3M | $530.5M | $401.8M | $325.9M | $284.5M | $319.4M | $279.9M | $167.1M |
| Average payables | $58.7M | $48.0M | $41.9M | $54.5M | $50.7M | $380.9M | $756.2M | $407.6M | $303.9M | $543.7M |
| Average inventory | $2.2M | $598,000 | $12.0M | $40.9M | $57.7M | $58.8M | $129.5M | −$3.20B | −$3.30B | $0 |
| Intangibles / total assets | 0.1% | 0.4% | 0.4% | 0.7% | 0.8% | 0.9% | 1.1% | 0.8% | 1.0% | 0.7% |
Computed from HHH's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
HHH valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Howard Hughes traded at 38.1 times earnings, against a 10-year median of 35.0. Based on the latest twelve months, the trailing P/E is 13.9. Howard Hughes earned a return on equity of 3.8% and a return on invested capital of 2.6% in fiscal 2025. It ended the year with $5.1 billion of debt and $1.5 billion in cash and short-term investments, net debt of $3.6 billion. It returned $3.6 million to shareholders: $0 in dividends and $3.6 million in share buybacks, 1% of free cash flow. The share count rose 38.4% from 42.7M to 59.1M over 9 years.
See the HHH income statement, the HHH chart for price history, or the HHH stock overview for the latest quote and news.
HHH key metrics FAQ
What is Howard Hughes's P/E ratio?
Howard Hughes's trailing P/E ratio is 13.9 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 38.1, compared with a 10-year median of 35.0.
What is Howard Hughes's EV/EBITDA?
Howard Hughes's enterprise value was 16.2 times EBITDA at the end of fiscal 2025 (enterprise value $8.4 billion, EBITDA $517.8 million); the current EV/EBITDA is 8.5.
What is Howard Hughes's return on equity?
Howard Hughes's return on equity (ROE) was 3.8% in fiscal 2025: net income of $123.9 million on average shareholders' equity of $3.3 billion.
What is Howard Hughes's ROIC?
Howard Hughes's return on invested capital was 2.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Howard Hughes have?
Howard Hughes had total debt of $5.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.35 and $3.6 billion of net debt (7.04 times EBITDA).
Does Howard Hughes buy back its shares?
Yes. Howard Hughes spent $3.6 million on net share repurchases in fiscal 2025 Shares outstanding changed +18.0% over the year, to 59.1M..
What is Howard Hughes's free cash flow yield?
Howard Hughes generated $458.9 million of free cash flow in fiscal 2025, a free cash flow yield of 9.7% on its market value at year-end ($4.7 billion).
What is Howard Hughes's current ratio?
Howard Hughes's current ratio was 8.59 at the end of fiscal 2025: current assets were 8.59 times current liabilities.