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Armada Hoffler Properties (AHH) Financials

Armada Hoffler Properties logo
$6.85 +0.03 (+0.44%)
Closing price 05/22/2025 03:59 PM Eastern
Extended Trading
$6.84 -0.01 (-0.22%)
As of 05/22/2025 07:41 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Armada Hoffler Properties

Annual Income Statements for Armada Hoffler Properties

This table shows Armada Hoffler Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Income / (Loss) Attributable to Common Shareholders
24 -3.26 63
Consolidated Net Income / (Loss)
42 7.66 100
Net Income / (Loss) Continuing Operations
42 8.29 100
Total Pre-Tax Income
42 8.99 100
Total Operating Income
107 74 134
Total Gross Profit
227 211 193
Total Revenue
708 667 471
Operating Revenue
708 667 471
Total Cost of Revenue
482 456 278
Operating Cost of Revenue
482 456 278
Total Operating Expenses
120 137 59
Selling, General & Admin Expense
20 18 16
Research & Development Expense
5.53 0.08 0.04
Depreciation Expense
91 97 74
Other Operating Expenses / (Income)
23 22 22
Impairment Charge
1.49 0.10 0.42
Other Special Charges / (Income)
-21 -0.74 -53
Total Other Income / (Expense), net
-65 -65 -34
Interest Expense
79 58 43
Interest & Investment Income
0.25 0.00 0.00
Other Income / (Expense), net
14 -6.79 9.08
Income Tax Expense
-0.61 1.33 -0.15
Preferred Stock Dividends Declared
12 12 12
Net Income / (Loss) Attributable to Noncontrolling Interest
6.85 - 25
Basic Earnings per Share
$0.34 ($0.05) $0.94
Weighted Average Basic Shares Outstanding
70.66M 67.69M 67.58M
Diluted Earnings per Share
$0.34 ($0.05) $0.94
Weighted Average Diluted Shares Outstanding
70.66M 67.69M 67.58M
Weighted Average Basic & Diluted Shares Outstanding
79.92M 133.59M 135.43M
Cash Dividends to Common per Share
$0.82 $0.78 $0.72

Quarterly Income Statements for Armada Hoffler Properties

This table shows Armada Hoffler Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
21 -7.93 0.29 11 -18 4.05 8.98 1.82 8.83 26
Consolidated Net Income / (Loss)
29 -7.55 3.28 18 -21 8.42 15 5.42 15 42
Net Income / (Loss) Continuing Operations
27 -5.04 3.17 18 -18 6.94 15 4.71 38 29
Total Pre-Tax Income
29 -6.95 2.03 18 -21 8.73 15 5.61 15 43
Total Operating Income
40 25 19 23 7.13 22 24 20 25 54
Total Gross Profit
-74 188 57 56 -152 166 53 144 55 47
Total Revenue
143 188 185 193 191 166 166 144 162 126
Operating Revenue
143 188 185 193 191 166 166 144 162 126
Total Cost of Revenue
217 0.00 128 138 343 0.00 113 0.00 106 79
Total Operating Expenses
-114 163 39 33 -159 144 29 124 27 -6.82
Selling, General & Admin Expense
4.66 5.19 4.50 5.87 4.34 4.29 4.05 5.45 3.51 3.85
Depreciation Expense
26 23 21 21 37 22 20 18 19 18
Other Operating Expenses / (Income)
-122 134 5.89 5.93 -199 117 5.63 100 5.36 5.45
Total Other Income / (Expense), net
-14 -29 -17 -5.01 -26 -15 -8.46 -15 -10 -12
Interest Expense
19 22 21 18 16 15 14 12 11 12
Other Income / (Expense), net
4.71 -7.92 4.71 13 -9.52 0.55 5.17 -2.99 1.11 0.94
Income Tax Expense
-0.49 0.59 -1.25 0.53 0.50 0.31 0.34 0.19 -0.01 0.18
Preferred Stock Dividends Declared
2.89 2.89 2.89 2.89 2.89 2.89 2.89 2.89 2.89 2.89
Basic Earnings per Share
$0.28 ($0.11) $0.00 $0.17 ($0.27) $0.06 $0.13 $0.03 $0.14 $0.38
Weighted Average Basic Shares Outstanding
70.66M 68.93M 67.11M 66.84M 67.69M 67.95M 67.90M 67.79M 67.58M 67.73M
Diluted Earnings per Share
$0.28 ($0.11) $0.00 $0.17 ($0.27) $0.06 $0.13 $0.03 $0.14 $0.38
Weighted Average Diluted Shares Outstanding
70.66M 68.93M 67.11M 66.84M 67.69M 67.95M 67.90M 67.79M 67.58M 67.73M
Weighted Average Basic & Diluted Shares Outstanding
79.92M 79.69M 135.75M 67.07M 133.59M 67.40M 67.90M 67.94M 135.43M 67.73M

Annual Cash Flow Statements for Armada Hoffler Properties

This table details how cash moves in and out of Armada Hoffler Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Change in Cash & Equivalents
42 -22 11
Net Cash From Operating Activities
112 93 117
Net Cash From Continuing Operating Activities
112 93 117
Net Income / (Loss) Continuing Operations
42 7.66 100
Consolidated Net Income / (Loss)
42 7.66 100
Depreciation Expense
68 63 55
Amortization Expense
25 39 25
Non-Cash Adjustments To Reconcile Net Income
-38 -6.53 -51
Changes in Operating Assets and Liabilities, net
15 -10 -12
Net Cash From Investing Activities
-27 -237 -33
Net Cash From Continuing Investing Activities
-27 -237 -33
Purchase of Property, Plant & Equipment
59 0.25 252
Acquisitions
-16 -70 -63
Purchase of Investments
0.00 -40 -120
Sale and/or Maturity of Investments
43 7.95 36
Other Investing Activities, net
-113 -136 -139
Net Cash From Financing Activities
-43 122 -72
Net Cash From Continuing Financing Activities
-43 122 -72
Repayment of Debt
-356 -184 -732
Repurchase of Common Equity
0.00 -13 0.00
Payment of Dividends
-85 -82 -78
Issuance of Debt
269 403 679
Issuance of Common Equity
129 -0.21 65
Other Financing Activities, net
-1.77 -1.82 -5.56
Cash Interest Paid
72 45 30
Cash Income Taxes Paid
-1.15 0.03 -0.00

Quarterly Cash Flow Statements for Armada Hoffler Properties

This table details how cash moves in and out of Armada Hoffler Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
26 24 -22 14 -4.84 -1.09 -0.34 -15 -7.70 -17
Net Cash From Operating Activities
21 27 17 46 15 38 27 13 39 28
Net Cash From Continuing Operating Activities
21 27 17 46 15 38 27 13 39 28
Net Income / (Loss) Continuing Operations
29 -7.55 3.28 18 -21 8.42 15 5.42 15 42
Consolidated Net Income / (Loss)
29 -7.55 3.28 18 -21 8.42 15 5.42 15 42
Depreciation Expense
18 18 16 16 17 17 15 14 14 13
Amortization Expense
7.67 5.81 5.54 5.73 20 6.33 6.16 6.60 6.79 6.61
Non-Cash Adjustments To Reconcile Net Income
-38 4.58 0.65 -5.71 -3.12 -3.28 -0.97 0.84 -0.70 -33
Changes in Operating Assets and Liabilities, net
3.74 6.14 -8.33 13 2.69 8.87 -7.81 -14 4.18 -1.57
Net Cash From Investing Activities
41 -14 -12 -41 -60 -74 -52 -51 -51 104
Net Cash From Continuing Investing Activities
41 -14 -12 -41 -60 -74 -52 -51 -51 104
Purchase of Property, Plant & Equipment
59 - - - - 0.27 - - 0.78 -
Acquisitions
-2.58 -2.72 -0.43 -10 -16 -23 -9.29 -21 -11 -11
Sale and/or Maturity of Investments
10 20 5.51 7.50 4.79 3.16 - 0.00 23 1.69
Other Investing Activities, net
-25 -32 -17 -38 -34 -37 -34 -30 -37 -137
Net Cash From Financing Activities
-35 11 -27 8.16 40 35 24 23 4.50 -149
Net Cash From Continuing Financing Activities
-35 11 -27 8.16 40 35 24 23 4.50 -149
Repayment of Debt
-67 -308 32 -12 -18 -25 -138 -2.42 -162 -293
Payment of Dividends
-22 -21 -21 -20 -21 -21 -20 -20 -20 -23
Issuance of Debt
54 - - 42 92 81 183 47 187 167
Issuance of Common Equity
-0.05 125 4.26 -0.01 -0.00 -0.06 - -0.15 - -
Other Financing Activities, net
-0.45 -0.23 - -1.10 - -0.12 -0.59 -1.11 -0.75 -0.13

Annual Balance Sheets for Armada Hoffler Properties

This table presents Armada Hoffler Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Total Assets
2,513 2,563 2,242
Total Current Assets
125 76 91
Cash & Equivalents
71 28 48
Restricted Cash
1.58 2.25 3.73
Accounts Receivable
53 46 39
Plant, Property, & Equipment, net
-452 -393 -330
Accumulated Depreciation
452 393 330
Total Noncurrent Assets
2,840 2,880 2,481
Long-Term Investments
163 142 72
Noncurrent Note & Lease Receivables
306 311 253
Intangible Assets
90 109 104
Other Noncurrent Operating Assets
2,281 2,318 2,053
Total Liabilities & Shareholders' Equity
2,513 2,563 2,242
Total Liabilities
1,623 1,758 1,338
Total Current Liabilities
39 31 27
Accounts Payable
39 31 27
Total Noncurrent Liabilities
1,584 1,727 1,311
Long-Term Debt
1,296 1,397 1,068
Capital Lease Obligations
93 92 46
Other Noncurrent Operating Liabilities
196 238 197
Total Equity & Noncontrolling Interests
890 805 904
Total Preferred & Common Equity
671 573 647
Preferred Stock
171 171 171
Total Common Equity
500 402 476
Common Stock
715 581 589
Accumulated Other Comprehensive Income / (Loss)
2.74 4.91 15
Other Equity Adjustments
-219 -185 -127
Noncontrolling Interest
219 233 257

Quarterly Balance Sheets for Armada Hoffler Properties

This table presents Armada Hoffler Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets
2,561 2,570 2,601 2,533 2,471 2,232 2,188
Total Current Assets
97 66 87 79 78 75 95
Cash & Equivalents
44 20 42 33 34 34 55
Restricted Cash
1.87 1.39 1.93 2.34 2.04 2.62 4.87
Accounts Receivable
51 44 43 44 41 38 35
Plant, Property, & Equipment, net
-444 -425 -409 -376 -359 -344 -316
Accumulated Depreciation
444 425 409 376 359 344 316
Total Noncurrent Assets
2,908 2,929 2,923 2,831 2,753 2,501 2,409
Long-Term Investments
155 153 152 126 102 93 64
Noncurrent Note & Lease Receivables
313 320 320 264 247 245 236
Intangible Assets
98 101 105 127 131 100 103
Other Noncurrent Operating Assets
2,341 2,355 2,345 2,314 2,272 2,063 2,005
Total Liabilities & Shareholders' Equity
2,561 2,570 2,601 2,533 2,471 2,232 2,188
Total Liabilities
1,680 1,781 1,798 1,666 1,589 1,358 1,277
Total Current Liabilities
45 40 33 32 24 19 24
Accounts Payable
45 40 33 32 24 19 24
Total Noncurrent Liabilities
1,635 1,741 1,765 1,635 1,565 1,339 1,252
Long-Term Debt
1,328 1,419 1,428 1,322 1,265 1,113 1,042
Capital Lease Obligations
92 92 92 93 93 47 46
Other Noncurrent Operating Liabilities
214 230 245 220 207 179 164
Total Equity & Noncontrolling Interests
881 789 803 867 882 874 911
Total Preferred & Common Equity
664 563 571 621 632 635 653
Preferred Stock
171 171 171 171 171 171 171
Total Common Equity
493 392 400 450 461 464 482
Common Stock
715 588 583 590 590 589 589
Accumulated Other Comprehensive Income / (Loss)
1.00 4.56 4.87 11 13 12 15
Other Equity Adjustments
-223 -201 -187 -152 -142 -138 -123
Noncontrolling Interest
218 227 231 246 250 239 258

Annual Metrics And Ratios for Armada Hoffler Properties

This table displays calculated financial ratios and metrics derived from Armada Hoffler Properties' official financial filings.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Growth Metrics
- - -
Revenue Growth
6.19% 41.61% 55.73%
EBITDA Growth
26.55% -24.26% 66.52%
EBIT Growth
81.14% -53.44% 129.85%
NOPAT Growth
72.39% -53.41% 120.93%
Net Income Growth
454.53% -92.33% 292.67%
EPS Growth
780.00% -105.32% 452.94%
Operating Cash Flow Growth
20.05% -20.15% 28.16%
Free Cash Flow Firm Growth
214.02% -50.27% -238.24%
Invested Capital Growth
-3.73% 11.97% 14.77%
Revenue Q/Q Growth
-6.40% 4.59% 18.44%
EBITDA Q/Q Growth
20.13% -6.68% -0.55%
EBIT Q/Q Growth
63.02% -29.58% -2.95%
NOPAT Q/Q Growth
108.72% -29.78% -2.80%
Net Income Q/Q Growth
658.84% -82.29% 12.74%
EPS Q/Q Growth
261.90% -113.89% 17.50%
Operating Cash Flow Q/Q Growth
5.44% -20.16% 16.59%
Free Cash Flow Firm Q/Q Growth
159.64% -4.58% -266.35%
Invested Capital Q/Q Growth
-2.77% 0.03% 1.07%
Profitability Metrics
- - -
Gross Margin
32.01% 31.63% 41.01%
EBITDA Margin
30.21% 25.35% 47.40%
Operating Margin
15.04% 11.03% 28.53%
EBIT Margin
17.08% 10.01% 30.46%
Profit (Net Income) Margin
6.00% 1.15% 21.22%
Tax Burden Percent
101.47% 85.22% 100.15%
Interest Burden Percent
34.61% 13.46% 69.56%
Effective Tax Rate
-1.47% 14.78% -0.15%
Return on Invested Capital (ROIC)
5.19% 3.12% 7.59%
ROIC Less NNEP Spread (ROIC-NNEP)
-0.12% -1.65% 3.87%
Return on Net Nonoperating Assets (RNNOA)
-0.18% -2.23% 4.28%
Return on Equity (ROE)
5.01% 0.90% 11.87%
Cash Return on Invested Capital (CROIC)
8.99% -8.18% -6.16%
Operating Return on Assets (OROA)
4.77% 2.78% 6.86%
Return on Assets (ROA)
1.67% 0.32% 4.78%
Return on Common Equity (ROCE)
2.67% 0.46% 6.07%
Return on Equity Simple (ROE_SIMPLE)
6.34% 1.34% 15.44%
Net Operating Profit after Tax (NOPAT)
108 63 135
NOPAT Margin
15.26% 9.40% 28.57%
Net Nonoperating Expense Percent (NNEP)
5.31% 4.77% 3.72%
Return On Investment Capital (ROIC_SIMPLE)
4.75% 2.73% 6.67%
Cost of Revenue to Revenue
67.99% 68.37% 58.99%
SG&A Expenses to Revenue
2.85% 2.72% 3.33%
R&D to Revenue
0.78% 0.01% 0.01%
Operating Expenses to Revenue
16.97% 20.60% 12.48%
Earnings before Interest and Taxes (EBIT)
121 67 143
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
214 169 223
Valuation Ratios
- - -
Price to Book Value (P/BV)
1.63 1.93 1.42
Price to Tangible Book Value (P/TBV)
1.99 2.64 1.81
Price to Revenue (P/Rev)
1.15 1.16 1.43
Price to Earnings (P/E)
33.83 0.00 10.68
Dividend Yield
8.02% 6.76% 7.22%
Earnings Yield
2.96% 0.00% 9.36%
Enterprise Value to Invested Capital (EV/IC)
1.15 1.18 1.10
Enterprise Value to Revenue (EV/Rev)
3.33 3.74 4.44
Enterprise Value to EBITDA (EV/EBITDA)
11.02 14.74 9.37
Enterprise Value to EBIT (EV/EBIT)
19.49 37.32 14.59
Enterprise Value to NOPAT (EV/NOPAT)
21.82 39.76 15.55
Enterprise Value to Operating Cash Flow (EV/OCF)
21.05 26.72 17.92
Enterprise Value to Free Cash Flow (EV/FCFF)
12.60 0.00 0.00
Leverage & Solvency
- - -
Debt to Equity
1.56 1.85 1.23
Long-Term Debt to Equity
1.56 1.85 1.23
Financial Leverage
1.46 1.35 1.11
Leverage Ratio
2.99 2.81 2.48
Compound Leverage Factor
1.04 0.38 1.73
Debt to Total Capital
60.94% 64.90% 55.22%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
60.94% 64.90% 55.22%
Preferred Equity to Total Capital
7.51% 7.46% 8.47%
Noncontrolling Interests to Total Capital
9.62% 10.14% 12.71%
Common Equity to Total Capital
21.93% 17.50% 23.60%
Debt to EBITDA
6.49 8.80 4.99
Net Debt to EBITDA
5.39 7.78 4.44
Long-Term Debt to EBITDA
6.49 8.80 4.99
Debt to NOPAT
12.84 23.74 8.28
Net Debt to NOPAT
10.67 21.00 7.36
Long-Term Debt to NOPAT
12.84 23.74 8.28
Altman Z-Score
0.78 0.63 0.76
Noncontrolling Interest Sharing Ratio
46.83% 48.64% 48.89%
Liquidity Ratios
- - -
Current Ratio
3.22 2.44 3.39
Quick Ratio
3.18 2.37 3.25
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
187 -164 -109
Operating Cash Flow to CapEx
0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
2.36 -2.84 -2.54
Operating Cash Flow to Interest Expense
1.41 1.61 2.71
Operating Cash Flow Less CapEx to Interest Expense
2.15 1.62 8.57
Efficiency Ratios
- - -
Asset Turnover
0.28 0.28 0.23
Accounts Receivable Turnover
14.40 15.75 13.70
Inventory Turnover
0.00 0.00 0.00
Fixed Asset Turnover
0.00 0.00 0.00
Accounts Payable Turnover
13.79 15.76 9.85
Days Sales Outstanding (DSO)
25.34 23.17 26.64
Days Inventory Outstanding (DIO)
0.00 0.00 0.00
Days Payable Outstanding (DPO)
26.47 23.16 37.06
Cash Conversion Cycle (CCC)
-1.13 0.02 -10.42
Capital & Investment Metrics
- - -
Invested Capital
2,043 2,122 1,895
Invested Capital Turnover
0.34 0.33 0.27
Increase / (Decrease) in Invested Capital
-79 227 244
Enterprise Value (EV)
2,358 2,493 2,094
Market Capitalization
815 773 675
Book Value per Share
$6.27 $5.96 $7.03
Tangible Book Value per Share
$5.14 $4.34 $5.50
Total Capital
2,278 2,294 2,019
Total Debt
1,388 1,489 1,115
Total Long-Term Debt
1,388 1,489 1,115
Net Debt
1,153 1,317 991
Capital Expenditures (CapEx)
-59 -0.25 -252
Debt-free, Cash-free Net Working Capital (DFCFNWC)
14 14 12
Debt-free Net Working Capital (DFNWC)
86 45 64
Net Working Capital (NWC)
86 45 64
Net Nonoperating Expense (NNE)
66 55 35
Net Nonoperating Obligations (NNO)
1,153 1,317 991
Total Depreciation and Amortization (D&A)
93 102 80
Debt-free, Cash-free Net Working Capital to Revenue
1.98% 2.17% 2.62%
Debt-free Net Working Capital to Revenue
12.17% 6.69% 13.63%
Net Working Capital to Revenue
12.17% 6.69% 13.63%
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
$0.34 ($0.05) $0.94
Adjusted Weighted Average Basic Shares Outstanding
70.66M 67.69M 67.58M
Adjusted Diluted Earnings per Share
$0.34 ($0.05) $0.94
Adjusted Weighted Average Diluted Shares Outstanding
70.66M 67.69M 67.58M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
79.92M 133.59M 135.43M
Normalized Net Operating Profit after Tax (NOPAT)
61 62 57
Normalized NOPAT Margin
8.57% 9.32% 12.09%
Pre Tax Income Margin
5.91% 1.35% 21.18%
Debt Service Ratios
- - -
EBIT to Interest Expense
1.53 1.16 3.33
NOPAT to Interest Expense
1.36 1.08 3.13
EBIT Less CapEx to Interest Expense
2.27 1.16 9.19
NOPAT Less CapEx to Interest Expense
2.10 1.09 8.99
Payout Ratios
- - -
Dividend Payout Ratio
199.33% 1,069.49% 78.37%
Augmented Payout Ratio
199.33% 1,234.28% 78.37%

Quarterly Metrics And Ratios for Armada Hoffler Properties

This table displays calculated financial ratios and metrics derived from Armada Hoffler Properties' official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - -
Revenue Growth
-25.35% 13.04% 11.33% 34.20% 18.11% 31.49% 59.79% 81.84% 83.00% 88.27%
EBITDA Growth
105.10% -11.77% -10.36% 51.83% -26.19% -37.56% -17.70% -7.71% -2.60% 145.23%
EBIT Growth
1,958.84% -25.56% -19.65% 109.28% -109.30% -58.40% -29.44% -20.29% -14.51% 326.93%
NOPAT Growth
708.83% -18.93% 28.71% 15.32% -79.69% -59.98% -39.51% 10.46% -18.41% 341.72%
Net Income Growth
237.86% -189.59% -77.97% 227.21% -244.85% -80.12% -51.62% -55.87% 348.38% 446.84%
EPS Growth
203.70% -283.33% -100.00% 466.67% -292.86% -84.21% -58.06% -72.73% 0.00% 533.33%
Operating Cash Flow Growth
38.47% -27.74% -36.53% 256.08% -61.07% 35.78% 38.24% -57.31% 75.72% -2.53%
Free Cash Flow Firm Growth
153.84% 116.81% 103.99% -295.72% -1.19% -1,086.03% 45.43% 147.16% -554.70% 90.87%
Invested Capital Growth
-3.73% -0.96% 1.22% 11.70% 11.97% 13.14% 6.78% -4.16% 14.77% 4.04%
Revenue Q/Q Growth
-24.01% 1.58% -4.52% 1.28% 15.07% 0.04% 15.10% -10.86% 28.10% 21.58%
EBITDA Q/Q Growth
69.89% -8.55% -22.05% 76.02% -26.92% -7.09% 32.03% -17.66% -38.17% 22.46%
EBIT Q/Q Growth
160.54% -26.75% -35.95% 1,087.41% -110.43% -20.94% 66.83% -32.40% -53.34% 34.09%
NOPAT Q/Q Growth
131.09% -41.63% 32.03% 354.16% -76.84% -7.33% 18.30% -20.01% -54.37% 40.08%
Net Income Q/Q Growth
484.79% -330.13% -81.50% 184.16% -350.05% -43.41% 174.78% -62.75% -65.68% 37.71%
EPS Q/Q Growth
354.55% 0.00% -100.00% 162.96% -550.00% -53.85% 333.33% -78.57% -63.16% 22.58%
Operating Cash Flow Q/Q Growth
-23.90% 57.16% -62.58% 209.41% -60.28% 38.03% 109.93% -66.17% 38.52% 40.53%
Free Cash Flow Firm Q/Q Growth
216.24% 759.27% 102.20% 9.79% 1.27% -104.15% -207.63% 146.64% -1,057.24% 90.61%
Invested Capital Q/Q Growth
-2.77% -1.21% -0.02% 0.24% 0.03% 0.96% 10.34% 0.49% 1.07% -4.72%
Profitability Metrics
- - - - - - - - - -
Gross Margin
-51.91% 100.00% 30.94% 28.93% -79.75% 100.00% 32.06% 100.00% 34.27% 37.43%
EBITDA Margin
49.08% 21.96% 24.39% 29.87% 17.86% 28.13% 30.29% 26.40% 28.59% 59.23%
Operating Margin
27.83% 13.30% 10.04% 12.07% 3.73% 13.46% 14.33% 14.11% 15.19% 42.83%
EBIT Margin
31.13% 9.08% 12.59% 18.77% -1.25% 13.79% 17.45% 12.04% 15.87% 43.58%
Profit (Net Income) Margin
20.36% -4.02% 1.78% 9.16% -11.03% 5.07% 8.97% 3.76% 8.99% 33.56%
Tax Burden Percent
101.73% 108.51% 161.29% 97.08% 102.41% 96.45% 97.79% 96.65% 100.03% 99.57%
Interest Burden Percent
64.30% -40.82% 8.74% 50.28% 861.26% 38.16% 52.58% 32.30% 56.63% 77.34%
Effective Tax Rate
-1.73% 0.00% -61.29% 2.92% 0.00% 3.55% 2.21% 3.35% -0.03% 0.43%
Return on Invested Capital (ROIC)
9.63% 3.34% 5.63% 4.16% 0.87% 4.14% 4.12% 3.76% 4.04% 9.23%
ROIC Less NNEP Spread (ROIC-NNEP)
8.71% 1.32% 3.55% 3.74% -1.39% 2.96% 3.39% 2.43% 2.96% 8.08%
Return on Net Nonoperating Assets (RNNOA)
12.70% 1.86% 5.43% 5.26% -1.88% 3.70% 4.41% 3.00% 3.27% 9.65%
Return on Equity (ROE)
22.33% 5.20% 11.07% 9.42% -1.01% 7.84% 8.53% 6.76% 7.31% 18.88%
Cash Return on Invested Capital (CROIC)
8.99% 3.42% 2.13% -7.55% -8.18% -7.86% -0.58% 11.28% -6.16% 3.57%
Operating Return on Assets (OROA)
8.69% 2.70% 3.67% 5.57% -0.35% 3.73% 4.41% 2.88% 3.58% 8.31%
Return on Assets (ROA)
5.68% -1.20% 0.52% 2.72% -3.06% 1.37% 2.27% 0.90% 2.03% 6.40%
Return on Common Equity (ROCE)
11.87% 2.80% 5.65% 4.86% -0.52% 4.11% 4.46% 3.54% 3.74% 9.54%
Return on Equity Simple (ROE_SIMPLE)
0.00% -1.15% 1.49% 3.50% 0.00% 6.97% 12.22% 14.67% 0.00% 13.58%
Net Operating Profit after Tax (NOPAT)
40 17 30 23 4.99 22 23 20 25 54
NOPAT Margin
28.31% 9.31% 16.20% 11.72% 2.61% 12.98% 14.01% 13.63% 15.19% 42.65%
Net Nonoperating Expense Percent (NNEP)
0.92% 2.02% 2.08% 0.42% 2.26% 1.18% 0.73% 1.33% 1.08% 1.15%
Return On Investment Capital (ROIC_SIMPLE)
1.77% - - - 0.22% - - - 1.22% -
Cost of Revenue to Revenue
151.91% 0.00% 69.06% 71.07% 179.75% 0.00% 67.94% 0.00% 65.73% 62.57%
SG&A Expenses to Revenue
3.27% 2.76% 2.44% 3.04% 2.27% 2.58% 2.44% 3.78% 2.17% 3.05%
R&D to Revenue
0.00% 0.00% 2.99% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
-79.74% 86.70% 20.89% 16.86% -83.48% 86.54% 17.73% 85.89% 16.88% -5.40%
Earnings before Interest and Taxes (EBIT)
44 17 23 36 -2.39 23 29 17 26 55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
70 41 45 58 34 47 50 38 46 75
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
1.63 1.49 1.90 1.70 1.93 1.44 1.60 1.58 1.42 1.29
Price to Tangible Book Value (P/TBV)
1.99 1.86 2.56 2.31 2.64 2.01 2.24 2.01 1.81 1.64
Price to Revenue (P/Rev)
1.15 0.97 1.01 0.95 1.16 1.02 1.23 1.36 1.43 1.56
Price to Earnings (P/E)
33.83 0.00 0.00 111.70 0.00 27.37 16.18 12.63 10.68 11.38
Dividend Yield
8.02% 7.48% 7.21% 7.74% 6.76% 8.07% 7.04% 6.85% 7.22% 7.62%
Earnings Yield
2.96% 0.00% 0.00% 0.90% 0.00% 3.65% 6.18% 7.92% 9.36% 8.78%
Enterprise Value to Invested Capital (EV/IC)
1.15 1.12 1.17 1.13 1.18 1.09 1.13 1.14 1.10 1.07
Enterprise Value to Revenue (EV/Rev)
3.33 3.10 3.37 3.36 3.74 3.64 3.98 4.05 4.44 5.07
Enterprise Value to EBITDA (EV/EBITDA)
11.02 13.15 13.50 12.75 14.74 12.80 11.36 9.87 9.37 8.97
Enterprise Value to EBIT (EV/EBIT)
19.49 31.57 30.96 28.08 37.32 24.45 18.73 15.62 14.59 13.63
Enterprise Value to NOPAT (EV/NOPAT)
21.82 45.24 35.11 34.08 39.76 25.97 19.55 15.87 15.55 14.55
Enterprise Value to Operating Cash Flow (EV/OCF)
21.05 22.06 21.23 19.00 26.72 19.84 22.24 21.87 17.92 20.11
Enterprise Value to Free Cash Flow (EV/FCFF)
12.60 32.50 55.01 0.00 0.00 0.00 0.00 9.89 0.00 30.68
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
1.56 1.61 1.91 1.89 1.85 1.63 1.54 1.33 1.23 1.19
Long-Term Debt to Equity
1.56 1.61 1.91 1.89 1.85 1.63 1.54 1.33 1.23 1.19
Financial Leverage
1.46 1.42 1.53 1.40 1.35 1.25 1.30 1.23 1.11 1.19
Leverage Ratio
2.99 2.91 3.02 2.88 2.81 2.66 2.68 2.57 2.48 2.49
Compound Leverage Factor
1.93 -1.19 0.26 1.45 24.21 1.01 1.41 0.83 1.41 1.93
Debt to Total Capital
60.94% 61.71% 65.69% 65.45% 64.90% 62.02% 60.63% 57.03% 55.22% 54.43%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
60.94% 61.71% 65.69% 65.45% 64.90% 62.02% 60.63% 57.03% 55.22% 54.43%
Preferred Equity to Total Capital
7.51% 7.43% 7.44% 7.36% 7.46% 7.50% 7.64% 8.41% 8.47% 8.56%
Noncontrolling Interests to Total Capital
9.62% 9.45% 9.85% 9.96% 10.14% 10.77% 11.15% 11.76% 12.71% 12.91%
Common Equity to Total Capital
21.93% 21.41% 17.02% 17.23% 17.50% 19.72% 20.58% 22.79% 23.60% 24.10%
Debt to EBITDA
6.49 7.97 8.23 8.05 8.80 7.81 6.49 5.27 4.99 4.84
Net Debt to EBITDA
5.39 6.84 7.28 7.01 7.78 6.92 5.82 4.68 4.44 4.29
Long-Term Debt to EBITDA
6.49 7.97 8.23 8.05 8.80 7.81 6.49 5.27 4.99 4.84
Debt to NOPAT
12.84 27.42 21.41 21.51 23.74 15.85 11.16 8.47 8.28 7.86
Net Debt to NOPAT
10.67 23.54 18.94 18.74 21.00 14.05 10.02 7.53 7.36 6.96
Long-Term Debt to NOPAT
12.84 27.42 21.41 21.51 23.74 15.85 11.16 8.47 8.28 7.86
Altman Z-Score
0.68 0.60 0.58 0.57 0.54 0.54 0.59 0.62 0.58 0.60
Noncontrolling Interest Sharing Ratio
46.83% 46.08% 48.98% 48.47% 48.64% 47.59% 47.75% 47.62% 48.89% 49.46%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
3.22 2.17 1.67 2.62 2.44 2.49 3.20 3.92 3.39 3.91
Quick Ratio
3.18 2.13 1.63 2.56 2.37 2.42 3.11 3.78 3.25 3.71
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
119 38 4.40 -200 -222 -225 -110 102 -219 -19
Operating Cash Flow to CapEx
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
6.46 1.76 0.21 -11.14 -13.50 -14.55 -8.08 8.32 -19.22 -1.52
Operating Cash Flow to Interest Expense
1.12 1.27 0.82 2.59 0.91 2.45 2.01 1.06 3.38 2.23
Operating Cash Flow Less CapEx to Interest Expense
4.29 1.27 0.82 2.59 0.91 2.47 2.01 1.06 3.45 2.23
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.28 0.30 0.29 0.30 0.28 0.27 0.25 0.24 0.23 0.19
Accounts Receivable Turnover
14.40 15.90 17.18 17.62 15.75 16.11 16.24 15.68 13.70 12.06
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover
13.79 15.93 19.07 22.70 15.76 7.84 12.64 11.26 9.85 7.98
Days Sales Outstanding (DSO)
25.34 22.96 21.25 20.72 23.17 22.66 22.48 23.27 26.64 30.27
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
26.47 22.92 19.14 16.08 23.16 46.58 28.87 32.42 37.06 45.72
Cash Conversion Cycle (CCC)
-1.13 0.04 2.11 4.64 0.02 -23.92 -6.39 -9.15 -10.42 -15.45
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
2,043 2,101 2,127 2,127 2,122 2,121 2,101 1,904 1,895 1,875
Invested Capital Turnover
0.34 0.36 0.35 0.36 0.33 0.32 0.29 0.28 0.27 0.22
Increase / (Decrease) in Invested Capital
-79 -20 26 223 227 246 133 -83 244 73
Enterprise Value (EV)
2,358 2,343 2,479 2,408 2,493 2,319 2,378 2,172 2,094 2,015
Market Capitalization
815 735 744 682 773 648 738 731 675 622
Book Value per Share
$6.27 $7.26 $5.84 $5.99 $5.96 $6.62 $6.79 $6.85 $7.03 $7.11
Tangible Book Value per Share
$5.14 $5.82 $4.33 $4.42 $4.34 $4.75 $4.85 $5.37 $5.50 $5.59
Total Capital
2,278 2,302 2,301 2,323 2,294 2,282 2,240 2,034 2,019 1,999
Total Debt
1,388 1,420 1,511 1,520 1,489 1,415 1,358 1,160 1,115 1,088
Total Long-Term Debt
1,388 1,420 1,511 1,520 1,489 1,415 1,358 1,160 1,115 1,088
Net Debt
1,153 1,219 1,337 1,324 1,317 1,255 1,219 1,030 991 964
Capital Expenditures (CapEx)
-59 0.00 0.00 0.00 0.00 -0.27 0.00 0.00 -0.78 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)
14 6.61 4.63 9.90 14 12 17 19 12 11
Debt-free Net Working Capital (DFNWC)
86 52 26 54 45 47 53 56 64 71
Net Working Capital (NWC)
86 52 26 54 45 47 53 56 64 71
Net Nonoperating Expense (NNE)
11 25 27 4.94 26 13 8.37 14 10 11
Net Nonoperating Obligations (NNO)
1,153 1,219 1,337 1,324 1,317 1,255 1,219 1,030 991 964
Total Depreciation and Amortization (D&A)
26 24 22 21 37 24 21 21 21 20
Debt-free, Cash-free Net Working Capital to Revenue
1.98% 0.87% 0.63% 1.38% 2.17% 1.91% 2.87% 3.57% 2.62% 2.79%
Debt-free Net Working Capital to Revenue
12.17% 6.91% 3.58% 7.50% 6.69% 7.40% 8.91% 10.37% 13.63% 17.77%
Net Working Capital to Revenue
12.17% 6.91% 3.58% 7.50% 6.69% 7.40% 8.91% 10.37% 13.63% 17.77%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$0.28 ($0.11) $0.00 $0.17 ($0.27) $0.06 $0.13 $0.03 $0.14 $0.38
Adjusted Weighted Average Basic Shares Outstanding
70.66M 68.93M 67.11M 66.84M 67.69M 67.95M 67.90M 67.79M 67.58M 67.73M
Adjusted Diluted Earnings per Share
$0.28 ($0.11) $0.00 $0.17 ($0.27) $0.06 $0.13 $0.03 $0.14 $0.38
Adjusted Weighted Average Diluted Shares Outstanding
70.66M 68.93M 67.11M 66.84M 67.69M 67.95M 67.90M 67.79M 67.58M 67.73M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
79.92M 79.69M 135.75M 67.07M 133.59M 67.40M 67.95M 67.94M 135.43M 67.73M
Normalized Net Operating Profit after Tax (NOPAT)
28 17 14 23 4.99 21 23 20 17 20
Normalized NOPAT Margin
19.48% 9.31% 7.60% 11.72% 2.61% 12.85% 13.71% 13.70% 10.67% 15.89%
Pre Tax Income Margin
20.02% -3.71% 1.10% 9.44% -10.77% 5.26% 9.17% 3.89% 8.99% 33.70%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
2.40 0.79 1.10 2.02 -0.15 1.48 2.12 1.41 2.25 4.41
NOPAT to Interest Expense
2.18 0.81 1.41 1.26 0.30 1.40 1.71 1.60 2.15 4.32
EBIT Less CapEx to Interest Expense
5.56 0.79 1.10 2.02 -0.15 1.50 2.12 1.41 2.32 4.41
NOPAT Less CapEx to Interest Expense
5.35 0.81 1.41 1.26 0.30 1.41 1.71 1.60 2.22 4.32
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
199.33% -1,103.68% 996.01% 411.76% 1,069.49% 186.97% 108.23% 87.46% 78.37% 83.99%
Augmented Payout Ratio
199.33% -1,103.68% 1,146.97% 411.76% 1,234.28% 186.97% 108.23% 87.46% 78.37% 83.99%

Frequently Asked Questions About Armada Hoffler Properties' Financials

When does Armada Hoffler Properties's fiscal year end?

According to the most recent income statement we have on file, Armada Hoffler Properties' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Armada Hoffler Properties' net income changed over the last 2 years?

Armada Hoffler Properties' net income appears to be on a downward trend, with a most recent value of $42.49 million in 2024, falling from $99.95 million in 2022. The previous period was $7.66 million in 2023. View Armada Hoffler Properties' forecast to see where analysts expect Armada Hoffler Properties to go next.

What is Armada Hoffler Properties's operating income?
Armada Hoffler Properties's total operating income in 2024 was $106.54 million, based on the following breakdown:
  • Total Gross Profit: $226.76 million
  • Total Operating Expenses: $120.22 million
How has Armada Hoffler Properties revenue changed over the last 2 years?

Over the last 2 years, Armada Hoffler Properties' total revenue changed from $471.13 million in 2022 to $708.47 million in 2024, a change of 50.4%.

How much debt does Armada Hoffler Properties have?

Armada Hoffler Properties' total liabilities were at $1.62 billion at the end of 2024, a 7.7% decrease from 2023, and a 21.3% increase since 2022.

How much cash does Armada Hoffler Properties have?

In the past 2 years, Armada Hoffler Properties' cash and equivalents has ranged from $27.92 million in 2023 to $70.64 million in 2024, and is currently $70.64 million as of their latest financial filing in 2024.

How has Armada Hoffler Properties' book value per share changed over the last 2 years?

Over the last 2 years, Armada Hoffler Properties' book value per share changed from 7.03 in 2022 to 6.27 in 2024, a change of -10.9%.



This page (NYSE:AHH) was last updated on 5/23/2025 by MarketBeat.com Staff
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