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MARKETS / NYSE / HHH
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Howard Hughes Holdings Inc. HHH

5 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.5B
▼ 15.8% YoY
$123.9M
▼ 37.3% YoY
$291.4M
▲ 102.9% YoY
In brief

What this company does

Through The Howard Hughes Corporation, Howard Hughes Holdings Inc. operates a large-scale, mixed-use real estate platform focused on the development of master planned communities, the investment in strategic real estate development opportunities, and the ownership and operation of income-producing properties. HHH operates through three business segments: Operating Assets, MPCs, and Strategic Developments. As of December 31, 2025, it had 77 Operating Assets, including investments in unconsolidated ventures, consisting of 13 retail properties, 37 office properties, 18 multifamily properties, and 9 other operating properties or investments. As of December 31, 2025, its portfolio of MPCs was comprised of Summerlin in Las Vegas; The Woodlands, The Woodlands Hills and Bridgeland in the Houston region; and Teravalis in the Phoenix region. As of December 31, 2025, the Company employed approximately 500 individuals, with the majority serving in full-time roles across various U.S. locations. HHH was incorporated in Delaware on August 11, 2023, and its predecessor, The Howard Hughes Corporation, was incorporated in Delaware on July 1, 2010.

Written from the business description in HOWARD HUGHES HOLDINGS INC.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.5B
Revenue, FY2025 · full 5-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.5 · Net income 0.1
0.8B1.6B-0.2B-0.4B20212022202320242025
Compound annual growth
−0.3%
−12.4%
−15.4%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 22.5% · Net 8.4%
10%20%30%-20%-40%-60%20212022202320242025
ROE
FY2025 · ROE 3.8%
2%4%6%-5%-10%-15%20212022202320242025

Each USD of equity produced 4 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 291.4
100M200M-200M-400M20212022202320242025
Net buybacks $M Dividends $M
FY2024 · Dividends — · Net buybacks 0.0
200M400M2021202220232024

Total assetsUSD 10.6B
EquityUSD 3.8B
CashUSD 1.5B
Gross debtUSD 5.1B
Net debtUSD 3.6B

Net debt stands at 96% of equity.

The 5-year record
5 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021
Revenue $B1.51.80.91.51.4
Operating income $B0.30.60.20.40.2
EBITDA $B0.50.70.40.60.4
Income tax $B0.00.10.00.10.0
Net income $B0.10.2−0.60.20.0
Free cash flow $B0.30.1−0.50.1−0.6
EPS, diluted $2.213.96−11.123.651.03
Dividend / sh $·····
Payout %·····
ROE %3.86.9−16.95.2·
Shares out B0.060.050.050.05·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 14 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 43 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2021

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