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Howard Hughes (HHH) Financials

Howard Hughes logo
$63.38 +1.64 (+2.65%)
Closing price 03:59 PM Eastern
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$63.34 -0.03 (-0.06%)
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Annual Income Statements for Howard Hughes

Annual Income Statements for Howard Hughes

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

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 56 185 -552 198 124
Consolidated Net Income / (Loss)		 49 185 -552 197 124
Net Income / (Loss) Continuing Operations		 49 253 83 285 124
Total Pre-Tax Income 		64 335 110 365 161
Total Revenue		 1,288 1,408 801 1,634 1,381
Net Interest Income / (Expense)		 -130 -109 -132 -140 -123
Total Interest Income		 0.11 3.82 26 25 47
Investment Securities Interest Income		 0.11 3.82 26 25 47
Total Interest Expense		 130 112 158 165 170
Long-Term Debt Interest Expense		 130 112 158 165 170
Total Non-Interest Income		 1,418 1,517 933 1,773 1,504
Net Realized & Unrealized Capital Gains on Investments		 -38 27 24 22 29
Other Non-Interest Income		 1,428 1,489 909 1,751 1,475
Provision for Credit Losses		 - 0.63 -2.76 0.50 0.23
Total Non-Interest Expense		 1,215 1,096 725 1,354 1,205
Other Operating Expenses		 1,009 941 557 1,125 974
Depreciation Expense		 205 155 169 180 183
Other Special Charges		 - 0.00 0.00 49 48
Nonoperating Income / (Expense), net		 -9.85 23 32 86 -14
Income Tax Expense		 15 82 26 80 38
Net Income / (Loss) Discontinued Operations		 - -68 -635 -88 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 -7.18 0.10 0.24 -0.71 -0.05
Basic Earnings per Share		 $1.03 $3.65 ($11.13) $3.98 $2.22
Weighted Average Basic Shares Outstanding		 - - 50.26M 50.41M 59.64M
Diluted Earnings per Share		 $1.03 $3.65 ($11.12) $3.96 $2.21
Weighted Average Diluted Shares Outstanding		 - - 50.26M 50.41M 59.64M
Weighted Average Basic & Diluted Shares Outstanding		 - - 50.26M 50.41M 59.64M

Quarterly Income Statements for Howard Hughes

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -19 -544 34 -52 21 73 156 11 -12 120 6.00
Consolidated Net Income / (Loss)		 -19 -544 34 -52 21 72 156 11 -12 119 5.68
Net Income / (Loss) Continuing Operations		 -19 32 93 -21 47 97 220 11 -12 119 5.68
Total Pre-Tax Income 		-35 43 125 -28 61 107 301 14 -16 158 4.78
Total Revenue		 227 213 194 130 250 292 876 178 229 376 598
Net Interest Income / (Expense)		 4.99 -32 -71 -31 -34 -38 -74 -35 -33 -29 -26
Total Interest Income		 4.99 7.68 8.73 7.93 6.00 5.34 5.71 6.12 10 15 15
Investment Securities Interest Income		 4.99 7.68 8.73 7.93 6.00 5.34 5.71 6.12 10 15 15
Total Interest Expense		 0.00 39 80 39 40 44 79 41 44 44 41
Long-Term Debt Interest Expense		 - 39 - 39 40 44 - 41 44 44 41
Total Non-Interest Income		 222 245 265 161 284 330 949 213 262 405 624
Net Realized & Unrealized Capital Gains on Investments		 0.00 16 3.05 4.79 -0.20 3.17 15 14 1.35 14 -0.23
Other Non-Interest Income		 223 228 261 156 283 327 935 199 261 390 624
Provision for Credit Losses		 -0.03 1.40 -1.72 -0.12 0.26 0.19 -2.08 -0.16 0.54 -0.35 0.19
Total Non-Interest Expense		 255 184 93 150 195 274 593 164 243 218 580
Other Operating Expenses		 202 141 72 106 149 178 565 119 151 172 533
Depreciation Expense		 53 43 21 44 47 44 31 45 44 46 47
Nonoperating Income / (Expense), net		 -6.19 16 22 -7.96 6.75 89 16 -0.05 -1.00 -0.08 -13
Income Tax Expense		 -15 11 32 -6.50 14 10 81 3.44 -3.82 39 -0.90
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.05 0.08 0.01 -0.03 -0.27 -0.41 0.31 0.07 -0.11 -0.32
Basic Earnings per Share		 ($0.39) ($10.97) $0.68 ($1.06) $0.42 $1.46 $3.10 $0.21 ($0.22) $2.03 $0.10
Weighted Average Basic Shares Outstanding		 - - 50.26M 50.26M 50.24M 50.14M 50.41M 50.39M 59.40M 59.39M 59.64M
Diluted Earnings per Share		 ($0.39) ($10.96) $0.68 ($1.06) $0.42 $1.46 $3.10 $0.21 ($0.22) $2.02 $0.10
Weighted Average Diluted Shares Outstanding		 - - 50.26M 50.26M 50.24M 50.14M 50.41M 50.39M 59.40M 59.39M 59.64M
Basic & Diluted Earnings per Share		 - - $0.68 - - - $3.10 - - - $0.10
Weighted Average Basic & Diluted Shares Outstanding		 - - 50.26M 50.26M 50.24M 50.14M 50.41M 50.39M 59.40M 59.39M 59.64M

Annual Cash Flow Statements for Howard Hughes

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

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -26 -118 -46 -55 1,099
Net Cash From Operating Activities		 -284 325 -258 397 462
Net Cash From Continuing Operating Activities		 -284 342 -215 448 462
Net Income / (Loss) Continuing Operations		 49 253 -1,103 197 124
Consolidated Net Income / (Loss)		 49 185 -468 285 124
Net Income / (Loss) Discontinued Operations		 - -68 -635 -88 0.00
Provision For Loan Losses		 -2.03 0.03 8.27 -0.50 3.41
Depreciation Expense		 185 138 152 161 164
Amortization Expense		 30 27 12 32 32
Non-Cash Adjustments to Reconcile Net Income		 -639 -140 -39 -108 -213
Changes in Operating Assets and Liabilities, net		 92 64 160 78 353
Net Cash From Discontinued Operating Activities		 - -17 -43 -51 0.00
Net Cash From Investing Activities		 101 -221 -336 -301 -219
Net Cash From Continuing Investing Activities		 101 -249 -346 -431 -219
Purchase of Property, Leasehold Improvements and Equipment		 -38 -45 -40 -50 -48
Purchase of Investment Securities		 -276 -494 -237 -444 -194
Sale and/or Maturity of Investments		 415 289 53 55 17
Other Investing Activities, net		 0.67 0.13 110 8.72 6.58
Net Cash From Discontinued Investing Activities		 - 29 9.52 130 0.00
Net Cash From Financing Activities		 156 -222 549 -150 855
Net Cash From Continuing Financing Activities		 156 -220 538 -28 855
Issuance of Debt		 2,423 1,236 677 761 760
Issuance of Preferred Equity		 - 0.00 0.00 9.85 0.00
Issuance of Common Equity		 - - 0.00 0.00 863
Repayment of Debt		 -2,170 -1,063 -148 -808 -783
Other Financing Activities, Net		 -15 11 -3.27 8.52 16
Net Cash From Discontinued Financing Activities		 - -2.20 11 -123 0.00
Cash Interest Paid		 254 295 240 450 432
Cash Income Taxes Paid		 1.79 25 - 0.00 0.00

Quarterly Cash Flow Statements for Howard Hughes

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 -46 93 117 -161 14 15 78 -160 961 175 123
Net Cash From Operating Activities		 -106 -109 101 -171 -18 248 337 -225 177 150 360
Net Cash From Continuing Operating Activities		 -106 -89 125 -156 -18 300 337 -225 177 150 360
Net Income / (Loss) Continuing Operations		 -19 -575 -487 -21 21 154 271 11 -12 119 5.68
Consolidated Net Income / (Loss)		 -19 - - -52 21 72 441 11 -12 119 5.68
Provision For Loan Losses		 1.61 2.31 3.89 0.64 0.29 -2.95 0.52 0.62 1.26 0.21 1.33
Depreciation Expense		 48 - - 39 47 27 40 40 40 42 43
Amortization Expense		 7.95 - - 8.59 8.31 5.71 8.26 8.35 7.67 7.97 7.95
Non-Cash Adjustments to Reconcile Net Income		 -162 351 -45 -166 -184 27 -9.08 -217 42 -153 115
Changes in Operating Assets and Liabilities, net		 17 -75 212 -17 89 89 -91 -68 99 134 188
Net Cash From Investing Activities		 -106 -54 -82 -74 -95 -78 -54 -64 -59 -39 -57
Net Cash From Continuing Investing Activities		 -106 -46 -99 -89 -95 -208 -54 -64 -59 -39 -57
Purchase of Property, Leasehold Improvements and Equipment		 -21 0.53 -9.27 -9.39 -7.78 -9.89 -21 -14 -7.75 -13 -14
Purchase of Investment Securities		 -92 3.39 -62 -96 -91 -204 99 -53 -60 -35 -46
Sale and/or Maturity of Investments		 6.33 22 21 13 0.68 4.59 37 3.57 8.18 8.24 -3.27
Other Investing Activities, net		 - - - 3.57 3.45 1.24 0.46 0.01 0.01 0.01 6.55
Net Cash From Financing Activities		 166 256 98 84 126 -155 -205 128 843 65 -180
Net Cash From Continuing Financing Activities		 166 256 87 84 126 -33 -205 128 843 65 -180
Issuance of Debt		 169 243 233 89 250 137 285 133 250 218 159
Repayment of Debt		 -4.06 -2.61 -138 -3.70 -125 -195 -484 -12 -277 -154 -340
Other Financing Activities, Net		 0.96 -3.42 -0.62 -1.68 0.32 15 -5.21 7.28 6.41 0.75 1.46
Cash Interest Paid		 66 21 47 133 93 136 84 129 81 137 85
Cash Income Taxes Paid		 - - 6.34 0.00 - 0.10 -0.02 -0.06 8.05 2.24 -10

Annual Balance Sheets for Howard Hughes

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 9,603 9,577 9,211 10,639
Cash and Due from Banks		 627 630 596 1,469
Restricted Cash		 472 379 402 629
Trading Account Securities		 312 294 302 308
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 4,504 3,990 4,233 4,424
Deferred Acquisition Cost		 129 138 139 161
Other Assets		 3,560 4,145 3,538 3,649
Total Liabilities & Shareholders' Equity		 9,603 9,577 9,211 10,639
Total Liabilities		 5,997 6,518 6,369 6,797
Long-Term Debt		 4,747 5,147 5,127 5,110
Other Long-Term Liabilities		 1,250 1,371 1,242 1,687
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,606 3,059 2,842 3,842
Total Preferred & Common Equity		 3,540 2,993 2,776 3,775
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 3,540 2,993 2,776 3,775
Common Stock		 3,973 3,989 3,577 4,459
Retained Earnings		 168 -384 -186 -62
Treasury Stock		 -611 -614 -617 -620
Accumulated Other Comprehensive Income / (Loss)		 10 1.27 1.97 -1.83
Noncontrolling Interest		 66 66 66 67

Quarterly Balance Sheets for Howard Hughes

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

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 9,636 9,903 9,439 9,289 10,298 10,696
Cash and Due from Banks		 463 437 401 494 1,441 1,457
Restricted Cash		 429 469 520 344 358 517
Trading Account Securities		 303 310 299 301 304 304
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 4,576 4,757 4,585 4,410 4,563 4,709
Deferred Acquisition Cost		 146 153 153 139 141 162
Other Assets		 3,719 3,778 3,481 3,601 3,491 3,548
Total Liabilities & Shareholders' Equity		 9,636 9,903 9,439 9,289 10,298 10,696
Total Liabilities		 6,623 6,867 6,758 6,434 6,586 6,862
Long-Term Debt		 5,391 5,512 5,299 5,249 5,224 5,287
Other Long-Term Liabilities		 1,232 1,355 1,460 1,185 1,362 1,574
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,013 3,037 2,680 2,855 3,712 3,835
Total Preferred & Common Equity		 2,947 2,971 2,614 2,788 3,645 3,768
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,947 2,971 2,614 2,788 3,645 3,768
Common Stock		 3,994 3,997 3,573 3,581 4,452 4,456
Retained Earnings		 -436 -415 -342 -175 -188 -68
Treasury Stock		 -615 -615 -615 -618 -619 -619
Accumulated Other Comprehensive Income / (Loss)		 3.90 3.94 -1.38 0.15 -0.72 -1.42
Noncontrolling Interest		 66 66 66 67 67 67

Annual Metrics And Ratios for Howard Hughes

This table displays calculated financial ratios and metrics derived from Howard Hughes' official financial filings.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - -
Profitability Metrics		 - - - - -
Valuation Ratios		 - - - - -
Leverage & Solvency		 - - - - -
Liquidity Ratios		 - - - - -
Cash Flow Metrics		 - - - - -
Efficiency Ratios		 - - - - -
Capital & Investment Metrics		 - - - - -
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($10.60) $3.98 $2.22
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 52.75M 50.41M 59.64M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($10.60) $3.96 $2.21
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 52.75M 50.41M 59.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 52.75M 50.41M 59.64M
Debt Service Ratios		 - - - - -
Payout Ratios		 - - - - -

Quarterly Metrics And Ratios for Howard Hughes

This table displays calculated financial ratios and metrics derived from Howard Hughes' official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.65 ($1.01) $0.40 $1.46 $3.10 $0.21 ($0.22) $2.03 $0.10
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 52.75M 52.75M 52.72M 50.14M 50.41M 50.39M 59.40M 59.39M 59.64M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.65 ($1.01) $0.40 $1.46 $3.10 $0.21 ($0.22) $2.02 $0.10
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 52.75M 52.75M 52.72M 50.14M 50.41M 50.39M 59.40M 59.39M 59.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.65 $0.00 $0.00 $0.00 $3.10 $0.00 $0.00 $0.00 $0.10
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 52.75M 52.75M 52.72M 50.14M 50.41M 50.39M 59.40M 59.39M 59.64M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Howard Hughes Holdings Inc. (HHH) shows a mix of revenue drivers, cash flow volatility, and a sizable balance sheet footprint across the last four years of quarterly data. The standout pattern is a heavy reliance on non-interest income in certain quarters, plus notable cash flow improvement in late 2025. Below are the most consequential takeaways for retail investors, categorized by potential impact.

  • Operating cash flow has swung positive in 2025, climbing to 360.3 million in Q4 2025 after 149.8 million in Q3 2025 and 177.3 million in Q2 2025, signaling improving liquidity and cash-generation capacity.
  • Non-interest income has been a major revenue driver in some quarters, with Other Non-Interest Income at 934.995 million in Q4 2024 and 624.222 million in Q4 2025 helping lift total revenue above core lending/interest activities.
  • Net income attributable to common shareholders has been positive in several key quarters (e.g., Q3 2025 at 119.508 million and Q4 2024 at 156.318 million), indicating periods of meaningful profitability despite volatility elsewhere.
  • The asset base and equity base have grown, with total assets around 10.70 billion and total equity around 3.83 billion by Q3 2025, reflecting a larger capital base to support operations and potential investments.
  • Some quarters show solid earnings per share on a diluted basis (e.g., Q3 2025 Diluted EPS of 2.02 and Q4 2024 Diluted EPS of 3.10), suggesting earnings power when conditions align.
  • Non-interest income and other gains are volatile and sometimes driven by non-core items, making quarterly results less predictable.
  • Discontinued operations and certain one-time accounting items contribute to year-to-year variability in reported net income.
  • Net interest income is negative in every quarter shown (example: Q4 2025 -26.0 million; Q3 2025 -28.6 million; Q2 2025 -33.4 million; Q1 2025 -34.95 million), indicating ongoing pressure from interest margins.
  • Total non-interest expenses remain high (examples include 592.9 million in Q4 2024 and 580.1 million in Q4 2025), which compresses profitability when non-interest income doesn’t fully offset them.
  • Long-term debt remains substantial (roughly 5.24–5.29 billion by 2025 Q3) and has edged higher, highlighting leverage risk amid rising interest rates.
  • Cash flow from operating activities was negative in early 2025 (e.g., Q1 2025 and Q2 2025), signaling near-term liquidity volatility before improving later in the year.
05/05/26 04:29 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Howard Hughes' Financials

When does Howard Hughes' fiscal year end?

According to the most recent income statement we have on file, Howard Hughes' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Howard Hughes' net income changed over the last 4 years?

Howard Hughes' net income appears to be on an upward trend, with a most recent value of $123.84 million in 2025, rising from $48.92 million in 2021. The previous period was $196.99 million in 2024. See Howard Hughes' forecast for analyst expectations on what’s next for the company.

How has Howard Hughes' revenue changed over the last 4 years?

Over the last 4 years, Howard Hughes' total revenue changed from $1.29 billion in 2021 to $1.38 billion in 2025, a change of 7.2%.

How much debt does Howard Hughes have?

Howard Hughes' total liabilities were at $6.80 billion at the end of 2025, a 6.7% increase from 2024, and a 13.3% increase since 2022.

How much cash does Howard Hughes have?

In the past 3 years, Howard Hughes' cash and equivalents has ranged from $596.08 million in 2024 to $1.47 billion in 2025, and is currently $1.47 billion as of their latest financial filing in 2025.


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Financial statements for NYSE:HHH last updated on 2/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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