HHH
Howard Hughes Holdings Inc.
Next earnings Aug 4, 2026 · consensus $0.80 EPS, $470M rev
Last earnings -0.9% on 2026-05-07
$72.37
▲ +3.44%$72.37▲ +4.49%
over 1Y
L $61.65EODHDH $89.85
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+3.4%
1W+8.4%
1M+13.3%
3M+16.2%
YTD-8.2%
1Y+4.5%
Hold
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 7 analysts
Buy
Quality MPC franchise pivoting to a Pershing-backed holdco — Vantage insurance deal makes HHH un-modelable until it closes.
The read
Middling fundamentals and a rich price (~77% above fair value) leave little margin of safety — a wait-and-see.
HHH's underlying real estate engine is performing well: the 10-K explicitly calls 2025 'exceptional,' with MPC EBT up 36% YoY to a record $476.1M on heightened homebuilder demand at Summerlin and Bridgeland, and Operating Assets NOI hitting a record $262.0M (+7% ex-dispositions) on office lease-up at The Woodlands, Merriweather, and Summerlin (484,000 sq ft of new/expanded office leases signed). Ward Village's under-construction condos are 93% pre-sold, representing $1.9B of contracted future revenue — meaningful visibility. Operating cash flow grew to $462M (+16.6%) and the balance sheet is liquid: $1.47B cash plus $515M undrawn Bridgeland Notes capacity and $686.6M of undrawn development commitments.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.43B | $1.49B | $909M | $1.75B | $1.47B |
| Gross profit | — | — | — | — | — |
| Operating income | $242M | $424M | $216M | $560M | $332M |
| Net income | — | $185M | -$552M | $198M | $124M |
| Diluted EPS | $1.03 | $3.65 | -$11.12 | $3.96 | $2.21 |
| Net margin | — | 12.4% | -60.7% | 11.3% | 8.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield2.9%
FCF yield—
Quality & risk
ROIC (est.)2.9%
Free cash flow—
Total debt$5.11B
Net cash-$3.64B
Piotroski F-Score4/7
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+18.3%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Material agreement2026-06-05
Closed $2.1B Vantage insurance acquisition; issued preferred to Pershing Square to fund
- 8-K Earnings results2026-05-07
Q1 2026 results filed; Vantage deal pending Q2 close
- 10-Q Quarterly report2026-05-07
Q1 2026 results filed; Vantage deal pending Q2 close
- 10-K/A Restated periodic report2026-04-29
Amended FY2025 10-K, typically Part III proxy disclosures
- 8-K Officer / director change2026-04-21
Officer/board changes plus new agreement and equity issuance ahead of Vantage close
- 8-K/A Amended 8-K2026-03-31
Amended a prior 8-K with supplemental disclosure
- 8-K Other event2026-03-06
Other-events disclosure; informational update only
- 8-K Earnings results2026-02-19
FY25 EPS -44% on workforce-tower mix; pivoting to diversified holdco via Vantage
- 10-K Annual report2026-02-19
FY25 EPS -44% on workforce-tower mix; pivoting to diversified holdco via Vantage
Recent filings
all on EDGAR ↗4Period ending 2026-06-192026-06-24open ↗4Period ending 2026-06-192026-06-24open ↗4Period ending 2026-06-192026-06-24open ↗4Period ending 2026-06-192026-06-24open ↗4Period ending 2026-06-192026-06-24open ↗4Period ending 2026-06-192026-06-24open ↗4Period ending 2026-06-192026-06-24open ↗4Period ending 2026-06-192026-06-24open ↗DFiling2026-06-17open ↗144Filing2026-06-17open ↗3Period ending 2026-06-042026-06-11open ↗144Filing2026-06-10open ↗
Frequently asked
- Is Howard Hughes Holdings Inc. (HHH) a buy?
- HHH currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Quality MPC franchise pivoting to a Pershing-backed holdco — Vantage insurance deal makes HHH un-modelable until it closes.
- What is HHH's fair value?
- A Modified-Graham model based on HHH's SEC fundamentals estimates a fair value of about $16.91. It is an estimate from reported earnings, not a price target.
- Is HHH overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, HHH currently appears overvalued relative to its SEC-grounded earnings power.
- What is Howard Hughes Holdings Inc.'s quality score?
- HHH scores 56.431372549019606/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001981792, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 12:59:14 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.