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Hudson Pacific Properties (HPP) Financials

Hudson Pacific Properties logo
$13.26 -0.22 (-1.59%)
Closing price 06/3/2026 03:58 PM Eastern
Extended Trading
$13.24 -0.02 (-0.15%)
As of 06/3/2026 05:38 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 Massive. Learn more.
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Annual Income Statements for Hudson Pacific Properties

Annual Income Statements for Hudson Pacific Properties

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -16 27 68 98 43 0.38 8.96 -56 -192 -364 -572
Consolidated Net Income / (Loss)		 -16 44 95 112 56 16 29 -17 -171 -381 -592
Net Income / (Loss) Continuing Operations		 762 704 95 112 56 16 29 -17 -171 -381 -592
Total Pre-Tax Income 		805 674 95 112 56 16 29 -17 -164 -380 -593
Total Operating Income		 47 750 137 149 163 128 146 160 29 -46 -45
Total Gross Profit		 1,563 1,071 728 461 818 805 561 1,026 952 842 831
Total Revenue		 1,563 1,071 728 728 818 805 897 1,026 952 842 831
Operating Revenue		 1,520 1,071 728 728 818 805 897 1,026 952 842 831
Total Cost of Revenue		 0.00 0.00 0.00 268 0.00 0.00 336 0.00 0.00 0.00 0.00
Operating Cost of Revenue		 - 0.00 - 268 - 0.00 336 0.00 0.00 0.00 0.00
Total Operating Expenses		 707 321 592 312 656 677 415 867 923 888 876
Selling, General & Admin Expense		 418 52 308 61 373 378 71 493 525 534 501
Depreciation Expense		 245 269 284 251 282 300 344 373 398 354 375
Total Other Income / (Expense), net		 -51 -76 -42 -37 -107 -111 -117 -176 -193 -334 -548
Interest Expense		 51 76 90 83 106 116 128 150 204 177 183
Interest & Investment Income		 0.12 0.26 0.10 1.72 3.30 4.83 5.62 3.28 -1.72 -4.84 6.17
Other Income / (Expense), net		 -0.06 -0.25 48 45 -4.23 0.46 5.57 -30 13 -152 -372
Income Tax Expense		 - - - - - - 0.00 0.00 6.80 1.64 -0.27
Preferred Stock Dividends Declared		 5.97 - 0.64 0.62 0.61 0.61 0.00 21 21 21 21
Net Income / (Loss) Attributable to Noncontrolling Interest		 -5.66 17 26 13 13 15 20 19 0.68 -38 -41
Weighted Average Basic Shares Outstanding		 343.82M 106.19M 307.77M 155.45M 154.40M 153.13M 151.62M 143.73M 20.14M 20.17M 44.68M
Weighted Average Diluted Shares Outstanding		 343.82M 110.37M 308.55M 155.70M 156.60M 153.17M 151.94M 143.73M 20.14M 20.17M 44.68M
Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 0.00 151.20M 141.06M 141.11M 141.35M 54.24M
Cash Dividends to Common per Share		 $0.58 $0.80 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 - - $0.00

Quarterly Income Statements for Hudson Pacific Properties

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -38 -98 -52 -47 -98 -167 -75 -83 -136 -278 -53
Consolidated Net Income / (Loss)		 -36 -89 -53 -48 -107 -173 -80 -88 -144 -280 -51
Net Income / (Loss) Continuing Operations		 -36 -89 -53 -48 -107 -173 -80 -88 -144 -280 -51
Total Pre-Tax Income 		-36 -88 -53 -47 -105 -175 -80 -87 -144 -281 -51
Total Operating Income		 3.18 -15 -7.60 -2.76 -21 -15 -26 -41 -25 48 -13
Total Gross Profit		 231 223 214 218 200 210 198 190 187 256 182
Total Revenue		 231 223 214 218 200 210 198 190 187 256 182
Operating Revenue		 231 223 214 218 200 210 198 190 187 256 182
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 228 239 222 221 221 225 225 231 212 209 195
Selling, General & Admin Expense		 130 135 130 134 134 135 132 136 118 115 114
Depreciation Expense		 99 103 92 87 87 89 93 95 94 93 81
Total Other Income / (Expense), net		 -39 -73 -46 -44 -84 -160 -54 -47 -119 -329 -38
Interest Expense		 54 52 44 44 45 44 45 50 42 46 38
Interest & Investment Income		 0.04 -0.91 0.11 -1.90 -2.68 -0.37 -0.82 1.92 1.47 3.60 1.21
Other Income / (Expense), net		 14 -19 -1.78 1.77 -36 -115 -7.54 1.13 -78 -287 -0.80
Income Tax Expense		 -0.43 0.92 0.00 0.51 2.18 -1.05 0.19 0.45 0.02 -0.95 0.35
Preferred Stock Dividends Declared		 5.20 5.20 5.20 5.20 5.20 5.20 5.19 5.17 5.10 5.09 5.09
Net Income / (Loss) Attributable to Noncontrolling Interest		 -3.36 4.14 -6.35 -5.73 -14 -12 -11 -9.78 -13 -7.34 -2.86
Weighted Average Basic Shares Outstanding		 140.94M 140.95M 141.12M 141.18M 141.23M 141.19M 20.20M 202.67M 451.03M 44.68M 64.46M
Weighted Average Diluted Shares Outstanding		 140.94M 140.95M 141.12M 141.18M 141.23M 141.19M 20.20M 202.67M 451.03M 44.68M 64.46M
Weighted Average Basic & Diluted Shares Outstanding		 140.94M 141.11M 141.14M 141.23M 141.23M 141.35M 141.39M 379.15M 379.50M 54.24M 54.24M
Cash Dividends to Common per Share		 $0.00 - $0.05 $0.05 $0.00 - $0.00 $0.00 $0.00 $0.27 $0.00

Annual Cash Flow Statements for Hudson Pacific Properties

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 37 37 -6.91 -33 -9.93 91 47 89 -167 -20 63
Net Cash From Operating Activities		 176 227 293 215 288 302 315 370 232 165 121
Net Cash From Continuing Operating Activities		 176 227 293 215 288 302 315 370 232 165 121
Net Income / (Loss) Continuing Operations		 -16 44 95 112 56 16 29 -17 -171 -381 -592
Consolidated Net Income / (Loss)		 -16 44 95 112 56 16 29 -17 -171 -381 -592
Depreciation Expense		 245 269 284 251 282 300 344 373 398 354 375
Amortization Expense		 -15 -16 -7.98 -14 -8.61 -5.37 -7.16 -3.76 -2.37 -0.64 5.28
Non-Cash Adjustments To Reconcile Net Income		 -4.70 -30 -99 -52 -49 -2.19 -1.59 25 36 184 364
Changes in Operating Assets and Liabilities, net		 -33 -40 22 -82 7.74 -6.52 -49 -8.31 -29 8.73 -31
Net Cash From Investing Activities		 -1,798 -525 -333 -392 -316 -1,007 -754 -378 468 -251 43
Net Cash From Continuing Investing Activities		 -1,798 -525 -333 -392 -316 -1,007 -754 -378 468 -251 43
Purchase of Property, Plant & Equipment		 -1,975 -889 -258 - 0.00 -594 -6.32 -20 -5.74 -23 -22
Acquisitions		 0.00 -37 -1.07 0.00 -85 -17 -285 -239 -69 -48 -18
Purchase of Investments		 - 0.00 0.00 -149 0.00 -3.40 -12 -17 -4.92 -5.94 -4.31
Sale of Property, Plant & Equipment		 177 372 212 455 148 0.00 0.00 138 843 21 236
Sale and/or Maturity of Investments		 0.00 29 16 16 6.52 9.54 7.49 133 3.03 0.40 5.09
Other Investing Activities, net		 - - -302 -714 -386 -402 -458 -372 -299 -196 -154
Net Cash From Financing Activities		 1,659 335 33 145 18 796 487 97 -867 66 -101
Net Cash From Continuing Financing Activities		 1,659 335 33 145 18 796 487 97 -867 66 -101
Repayment of Debt		 -934 -893 -824 -457 -1,033 -1,168 -1,133 -517 -1,204 -38 -2,031
Repurchase of Preferred Equity		 -145 0.00 0.00 -0.36 - 0.00 0.00 -200 0.00 0.00 -7.02
Repurchase of Common Equity		 0.00 -1,446 -311 -50 -0.53 -96 -47 -38 -1.37 -0.08 -5.99
Payment of Dividends		 -90 -120 -234 -162 -171 -182 -266 -241 -217 -69 -43
Issuance of Debt		 2,235 1,318 767 650 1,216 1,737 1,451 1,198 382 181 1,291
Issuance of Common Equity		 598 1,484 651 0.00 0.00 506 70 24 26 34 696
Other Financing Activities, net		 -5.13 -8.43 -16 164 6.44 -0.38 -1.21 -128 147 -42 -0.58

Quarterly Cash Flow Statements for Hudson Pacific Properties

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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 3/31/2026
Net Change in Cash & Equivalents		 -34 25 14 -34 14 -15 35 133 -53 -52 0.31
Net Cash From Operating Activities		 71 9.22 65 36 64 0.16 31 -2.04 33 59 44
Net Cash From Continuing Operating Activities		 71 9.22 65 36 64 0.16 31 -2.04 33 59 44
Net Income / (Loss) Continuing Operations		 -36 -89 -53 -48 -107 -173 -80 -88 -144 -280 -51
Consolidated Net Income / (Loss)		 -36 -89 -53 -48 -107 -173 -80 -88 -144 -280 -51
Depreciation Expense		 99 103 92 87 87 89 93 95 94 93 81
Amortization Expense		 -0.55 -0.56 -0.62 -0.26 -0.02 0.26 0.45 1.03 1.48 2.33 2.45
Non-Cash Adjustments To Reconcile Net Income		 -6.44 12 13 10 58 134 11 31 79 243 9.11
Changes in Operating Assets and Liabilities, net		 16 -17 15 -14 26 -50 6.27 -41 2.54 0.98 2.92
Net Cash From Investing Activities		 -31 592 -71 -50 -75 -55 16 -24 -56 107 -34
Net Cash From Continuing Investing Activities		 -31 592 -71 -50 -75 -55 16 -24 -56 107 -34
Purchase of Property, Plant & Equipment		 -2.80 -1.29 -5.08 -5.29 -7.95 -4.75 -4.74 -5.82 -5.32 -6.20 -3.95
Acquisitions		 -21 -13 -21 -9.56 -11 -6.09 -4.49 -4.83 -5.50 -3.53 -5.78
Purchase of Investments		 -0.85 -0.73 -0.55 -0.37 -2.02 -3.00 -1.30 -0.95 -0.78 -1.28 -0.59
Sale of Property, Plant & Equipment		 67 676 0.00 - - 21 63 25 - 148 0.00
Sale and/or Maturity of Investments		 - 0.63 0.00 - 0.06 0.35 0.38 0.92 0.46 3.33 0.41
Other Investing Activities, net		 -73 -70 -45 -34 -54 -63 -37 -38 -45 -33 -24
Net Cash From Financing Activities		 -74 -577 21 -20 25 40 -12 159 -30 -219 -9.67
Net Cash From Continuing Financing Activities		 -75 -575 21 -20 25 40 -12 159 -30 -219 -9.67
Repayment of Debt		 -133 -687 -10 -20 - -8.00 -497 -1,003 -324 -208 -2.50
Repurchase of Preferred Equity		 - - 0.00 - - - -1.42 -2.50 -3.10 - 0.00
Repurchase of Common Equity		 - - - -0.08 - - 0.00 - -0.61 -0.03 -0.08
Payment of Dividends		 -24 -84 -31 -17 -10 -11 -10 -12 -8.62 -12 -9.60
Issuance of Debt		 75 44 98 14 24 44 494 512 285 - 0.00
Issuance of Common Equity		 7.33 4.95 4.70 8.48 6.40 14 2.99 669 20 4.36 2.60
Other Financing Activities, net		 - 148 -41 -5.00 4.55 -0.07 -0.20 1.42 1.31 -3.11 -0.08

Annual Balance Sheets for Hudson Pacific Properties

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 6,254 6,679 6,622 7,071 7,467 8,350 8,990 9,319 8,282 8,132 7,268
Total Current Assets		 465 808 579 138 140 227 341 401 238 287 264
Cash & Equivalents		 54 83 79 54 46 114 97 256 100 63 138
Restricted Cash		 - 25 22 14 12 36 100 30 19 36 24
Accounts Receivable		 21 7.01 4.23 14 13 22 25 17 25 15 15
Prepaid Expenses		 27 77 61 56 69 55 119 99 94 90 87
Plant, Property, & Equipment, net		 5,187 -375 -521 -696 -898 8.44 58 130 119 127 72
Accumulated Depreciation		 264 375 521 696 898 1,103 1,284 1,541 1,728 1,791 1,953
Total Noncurrent Assets		 602 6,247 6,565 7,629 8,225 9,217 9,874 10,329 9,654 9,509 8,885
Long-Term Investments		 0.00 - - 0.00 65 82 155 181 253 221 247
Noncurrent Note & Lease Receivables		 29 79 106 - 195 226 240 280 221 200 195
Goodwill		 8.75 - - - - 8.75 109 264 264 157 8.75
Intangible Assets		 - 289 239 280 285 286 341 394 327 328 307
Other Noncurrent Operating Assets		 565 5,878 6,219 7,349 7,679 8,615 9,028 9,211 8,589 8,604 8,127
Total Liabilities & Shareholders' Equity		 6,254 6,679 6,622 7,071 7,467 8,350 8,990 9,319 8,282 8,132 7,268
Total Liabilities		 2,515 2,966 2,701 3,118 3,622 4,245 4,654 5,434 4,721 4,955 4,063
Total Current Liabilities		 82 351 167 175 213 236 301 264 204 225 209
Accounts Payable		 82 115 162 175 213 236 301 264 204 194 209
Total Noncurrent Liabilities		 2,433 2,615 2,534 2,942 3,409 4,009 4,353 5,170 4,517 4,730 3,854
Long-Term Debt		 2,261 2,473 2,421 2,828 3,019 3,597 3,928 4,652 4,011 4,243 3,418
Other Noncurrent Operating Liabilities		 22 68 63 - 359 411 421 518 506 465 436
Commitments & Contingencies		 - - - - - - 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 20 10 10 123 135 138 139 135 67 59 53
Total Equity & Noncontrolling Interests		 7,458 3,703 3,911 3,830 3,709 3,968 4,197 3,750 3,494 3,119 3,152
Total Preferred & Common Equity		 1,666 3,103 3,638 3,544 3,417 3,463 3,742 3,305 3,078 2,855 2,972
Preferred Stock		 - - - - - 0.00 425 425 425 425 425
Total Common Equity		 5,132 3,103 3,638 3,544 3,417 3,463 3,317 2,880 2,653 2,430 2,547
Common Stock		 -1,755 3,111 3,625 3,526 3,417 3,471 3,319 2,891 2,653 2,439 2,549
Accumulated Other Comprehensive Income / (Loss)		 -1.08 9.50 13 18 -0.56 -8.13 -1.76 -11 -0.19 -8.42 -1.86
Noncontrolling Interest		 2,326 599 273 287 293 505 455 445 416 263 179

Quarterly Balance Sheets for Hudson Pacific Properties

This table presents Hudson Pacific 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 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 9,320 9,124 9,106 8,987 8,251 8,353 8,317 7,998 8,126 7,796 7,230
Total Current Assets		 330 299 276 233 248 227 264 257 378 324 254
Cash & Equivalents		 162 163 109 75 114 78 91 86 236 190 138
Restricted Cash		 42 20 19 19 19 21 23 47 31 24 24
Accounts Receivable		 20 15 19 19 24 18 15 11 13 14 14
Prepaid Expenses		 107 101 129 119 91 109 96 86 97 95 77
Plant, Property, & Equipment, net		 129 124 120 116 120 121 123 128 129 132 73
Accumulated Depreciation		 1,478 1,619 1,687 1,736 1,737 1,777 1,769 1,833 1,895 1,928 2,021
Total Noncurrent Assets		 10,340 10,320 10,398 10,374 9,620 9,781 9,699 9,446 9,514 9,268 8,925
Long-Term Investments		 154 194 218 236 270 212 227 228 243 243 248
Noncurrent Note & Lease Receivables		 276 291 294 291 218 218 206 200 204 205 200
Goodwill		 261 264 264 264 264 264 264 157 157 157 8.75
Intangible Assets		 405 382 372 360 319 329 324 318 351 362 308
Other Noncurrent Operating Assets		 9,244 9,189 9,250 9,223 8,549 8,758 8,677 8,543 8,559 8,302 8,159
Total Liabilities & Shareholders' Equity		 9,320 9,124 9,106 8,987 8,251 8,353 8,317 7,998 8,126 7,796 7,230
Total Liabilities		 5,393 5,294 5,332 5,261 4,801 4,896 4,971 4,903 4,441 4,310 4,083
Total Current Liabilities		 356 272 274 267 203 228 296 193 223 244 229
Accounts Payable		 356 272 274 267 203 228 265 193 223 244 229
Total Noncurrent Liabilities		 5,037 5,023 5,057 4,993 4,598 4,668 4,675 4,710 4,218 4,067 3,854
Long-Term Debt		 4,515 4,500 4,539 4,483 4,100 4,180 4,206 4,244 3,757 3,621 3,416
Other Noncurrent Operating Liabilities		 519 523 518 510 497 488 470 465 462 445 438
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 135 131 129 125 62 61 60 57 55 52 53
Total Equity & Noncontrolling Interests		 3,792 3,699 3,645 3,601 3,389 3,396 3,286 3,038 3,630 3,433 3,095
Total Preferred & Common Equity		 3,345 3,253 3,217 3,179 3,183 3,130 3,027 2,782 3,366 3,248 2,917
Preferred Stock		 425 425 425 425 425 425 425 425 425 425 425
Total Common Equity		 2,920 2,828 2,792 2,754 2,758 2,705 2,602 2,357 2,941 2,823 2,492
Common Stock		 2,937 2,836 2,785 2,750 2,755 2,702 2,605 2,364 2,939 2,826 2,496
Accumulated Other Comprehensive Income / (Loss)		 -17 -8.15 6.41 4.18 3.03 2.82 -2.34 -7.07 2.16 -3.26 -3.62
Noncontrolling Interest		 448 446 429 422 205 266 259 256 264 185 177

Annual Metrics And Ratios for Hudson Pacific Properties

This table displays calculated financial ratios and metrics derived from Hudson Pacific Properties' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 379,497,228.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 54,213,890.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -10.56
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 105.53% -31.43% -32.04% 0.08% 12.32% -1.62% 11.41% 14.43% -7.20% -11.57% -1.30%
EBITDA Growth		 137.22% 261.54% -54.11% 807.58% -125.47% -51.10% 15.54% 2.36% -12.38% -64.30% -122.93%
EBIT Growth		 -2.80% 1,483.98% -75.39% 1,798.14% -82.81% -59.57% 18.36% -14.18% -67.54% -567.74% -110.64%
NOPAT Growth		 -2.65% 1,482.44% -81.78% 0.00% 0.00% -60.76% 14.42% -23.45% -81.82% -258.03% 2.87%
Net Income Growth		 -168.37% 372.09% 116.10% 18.21% -50.04% -70.58% 76.58% -156.93% -933.48% -123.44% -55.29%
EPS Growth		 -300.00% 183.33% 252.00% -28.41% -111.11% -100.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 178.28% 29.01% 29.19% -53.48% 34.19% 4.87% 4.25% 17.35% -37.14% -29.11% -26.53%
Free Cash Flow Firm Growth		 -1,602.12% 119.86% -96.19% 0.00% 0.00% 0.00% -108.01% 37.56% 334.51% -91.77% 1,739.01%
Invested Capital Growth		 151.55% 1.37% 1.92% 31.25% -130.63% -40.63% 7.31% 4.48% -7.11% -1.01% -7.84%
Revenue Q/Q Growth		 132.00% -54.15% 114.53% 54.35% 4.54% -1.56% 4.26% 2.95% -4.66% -1.61% 5.91%
EBITDA Q/Q Growth		 371.72% 67.02% -51.39% 213.66% -46.51% -2.67% 6.73% 1.84% -14.24% -41.06% -153.26%
EBIT Q/Q Growth		 139.34% 123.15% -72.78% 3,169.16% -94.58% -13.43% 16.06% -0.65% -65.29% -93.73% -35.54%
NOPAT Q/Q Growth		 169.66% 152.50% -70.41% 0.00% 0.00% -12.85% 13.68% -31.45% -65.14% 0.52% 58.33%
Net Income Q/Q Growth		 15.98% 250.54% 27.53% -20.99% -3.95% -55.06% 219.13% -380.33% -94.64% -28.60% -21.97%
EPS Q/Q Growth		 -42.86% 247.06% 109.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 39.55% -11.24% 10.33% -29.14% 15.05% -0.09% -7.30% 3.24% -12.02% -5.21% 95.64%
Free Cash Flow Firm Q/Q Growth		 14.17% 72.79% -84.90% 0.00% 0.00% -20.56% -106.34% 97.01% 7,514.84% -90.53% 107.54%
Invested Capital Q/Q Growth		 -6.14% -3.40% -6.13% 152.67% 19.53% 25.71% 1,554.91% 0.49% -7.13% -1.47% -4.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 126.50% 200.00% 100.00% 62.55% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 17.75% 93.57% 63.19% 59.10% 105.57% 52.47% 54.42% 48.68% 45.96% 18.56% -4.31%
Operating Margin		 3.03% 69.99% 18.76% 20.41% 39.75% 15.85% 16.28% 15.56% 3.05% -5.45% -5.36%
EBIT Margin		 3.03% 69.97% 25.34% 26.53% 38.72% 15.91% 16.90% 12.68% 4.43% -23.46% -50.06%
Profit (Net Income) Margin		 -1.03% 4.08% 12.99% 15.35% 13.65% 2.04% 3.23% -1.61% -17.93% -45.29% -71.27%
Tax Burden Percent		 -2.00% 6.49% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 104.15% 100.43% 99.95%
Interest Burden Percent		 1,701.58% 89.89% 51.25% 57.85% 70.52% 12.83% 19.14% -12.70% -388.11% 192.26% 142.42%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 1.19% 13.08% 2.34% 2.35% 0.80% 1.11% 1.64% 1.19% 0.22% -0.36% -0.37%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.26% -498.13% 0.25% 1.72% -1.52% -0.56% -0.86% -1.23% -3.22% -6.70% -10.91%
Return on Net Nonoperating Assets (RNNOA)		 -1.51% -12.30% 0.13% 0.49% -1.53% -0.94% -0.96% -1.59% -4.80% -10.96% -18.19%
Return on Equity (ROE)		 -0.32% 0.78% 2.48% 8.37% 0.43% 0.17% 0.69% -0.40% -4.59% -11.32% -18.56%
Cash Return on Invested Capital (CROIC)		 -85.03% 11.72% 0.44% 0.00% 97.79% 52.10% -5.41% -3.19% 7.59% 0.65% 7.79%
Operating Return on Assets (OROA)		 1.10% 11.59% 2.77% 5.64% 2.18% 1.62% 1.75% 1.42% 0.48% -2.41% -5.40%
Return on Assets (ROA)		 -0.37% 0.68% 1.42% 1.63% 1.54% 0.21% 0.33% -0.18% -1.94% -4.65% -7.69%
Return on Common Equity (ROCE)		 -0.23% 0.58% 2.19% 7.56% -0.89% 0.15% 0.55% -0.30% -3.41% -8.54% -14.47%
Return on Equity Simple (ROE_SIMPLE)		 -0.97% 1.41% 2.60% 6.31% 3.27% 0.47% 0.78% -0.50% -5.55% -13.36% 0.00%
Net Operating Profit after Tax (NOPAT)		 47 750 137 0.00 325 128 146 112 20 -32 -31
NOPAT Margin		 3.03% 69.99% 18.76% 20.41% 19.88% 15.85% 16.28% 10.89% 2.13% -3.81% -3.75%
Net Nonoperating Expense Percent (NNEP)		 -6.07% 511.20% 2.09% 3.10% 0.00% 1.67% 2.51% 2.42% 3.44% 6.33% 10.54%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 1.33% 0.27% -0.44% -0.47%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 36.75% 0.00% 0.00% 37.45% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 26.77% 4.89% 42.29% 8.38% 45.65% 46.92% 7.96% 48.07% 55.17% 63.36% 60.24%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 45.22% 30.01% 81.24% 42.84% 80.12% 84.15% 46.27% 84.44% 96.95% 105.45% 105.36%
Earnings before Interest and Taxes (EBIT)		 47 750 185 1,843 317 128 152 130 42 -198 -416
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 277 1,003 460 2,318 864 422 488 500 438 156 -36
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.35 0.73 1.10 2.14 1.36 0.88 0.98 0.44 0.49 0.18 0.23
Price to Tangible Book Value (P/TBV)		 0.35 0.81 1.18 2.32 1.48 0.96 1.13 0.57 0.63 0.22 0.26
Price to Revenue (P/Rev)		 1.14 2.12 5.50 10.40 5.67 3.77 3.62 1.23 1.35 0.51 0.71
Price to Earnings (P/E)		 0.00 83.64 59.28 77.25 108.66 7,926.57 362.74 0.00 0.00 0.00 0.00
Dividend Yield		 2.88% 3.16% 3.90% 8.82% 6.62% 5.01% 4.69% 11.14% 9.57% 3.30% 0.00%
Earnings Yield		 0.00% 1.20% 1.69% 5.54% 1.81% 0.01% 0.28% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.13 0.92 1.13 2.07 2.49 0.82 0.85 0.67 0.65 0.58 0.52
Enterprise Value to Revenue (EV/Rev)		 4.12 4.97 9.15 19.29 9.78 8.75 8.75 6.29 6.13 6.05 5.12
Enterprise Value to EBITDA (EV/EBITDA)		 23.20 5.31 14.47 32.54 51.59 16.68 16.07 12.92 13.33 32.62 0.00
Enterprise Value to EBIT (EV/EBIT)		 135.93 7.10 36.10 72.49 106.38 55.00 51.75 49.62 138.20 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 135.75 7.10 48.75 94.21 49.18 55.20 53.72 57.75 287.23 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 36.60 23.48 22.73 65.27 58.50 23.32 24.92 17.47 25.13 30.96 35.16
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 7.92 259.87 0.00 0.40 1.17 0.00 0.00 8.30 88.04 6.41
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.31 0.69 0.63 24.10 1.60 0.88 0.91 1.20 1.13 1.34 1.07
Long-Term Debt to Equity		 0.31 0.69 0.63 24.10 0.79 0.88 0.91 1.20 1.13 1.34 1.07
Financial Leverage		 -0.21 0.02 0.53 1.37 5.11 1.68 1.11 1.29 1.49 1.64 1.67
Leverage Ratio		 0.85 1.16 1.74 5.12 5.53 1.99 2.05 2.23 2.36 2.44 2.41
Compound Leverage Factor		 14.54 1.04 0.89 2.01 1.31 0.26 0.39 -0.28 -9.17 4.68 3.44
Debt to Total Capital		 23.95% 40.68% 38.66% 137.99% 88.80% 46.70% 47.53% 54.49% 52.97% 57.18% 51.61%
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% 0.00%
Long-Term Debt to Total Capital		 23.95% 40.68% 38.66% 137.99% 88.80% 46.70% 47.53% 54.49% 52.97% 57.18% 51.61%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.09% 0.09% 0.00% 5.14% 4.98% 5.61% 5.73% 6.42%
Noncontrolling Interests to Total Capital		 23.86% 9.74% 4.43% 12.00% 45.16% 8.34% 7.19% 6.79% 6.38% 4.34% 3.52%
Common Equity to Total Capital		 52.19% 49.58% 56.91% 103.81% 99.11% 44.96% 40.13% 33.74% 35.03% 32.75% 38.46%
Debt to EBITDA		 8.49 2.54 5.37 20.03 7.06 8.52 8.05 9.31 9.16 27.15 -95.40
Net Debt to EBITDA		 8.30 2.43 5.15 19.21 6.78 7.97 7.33 8.38 8.32 25.10 -83.99
Long-Term Debt to EBITDA		 8.49 2.54 5.37 20.03 7.06 8.52 8.05 9.31 9.16 27.15 -95.40
Debt to NOPAT		 49.70 3.40 18.09 19.33 18.76 28.19 26.90 41.62 197.42 -132.13 -109.57
Net Debt to NOPAT		 48.57 3.25 17.35 37.74 18.00 26.37 24.49 37.45 179.12 -122.15 -96.46
Long-Term Debt to NOPAT		 49.70 3.40 18.09 38.66 18.76 28.19 26.90 41.62 197.42 -132.13 -109.57
Altman Z-Score		 0.76 1.07 1.17 2.21 2.01 0.57 0.58 0.31 0.30 0.08 0.02
Noncontrolling Interest Sharing Ratio		 27.82% 26.41% 11.70% 108.80% 110.74% 13.46% 19.69% 24.62% 25.69% 24.57% 22.01%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 5.70 2.30 3.46 0.00 0.00 0.96 1.13 1.52 1.17 1.28 1.26
Quick Ratio		 0.91 0.26 0.50 2.42 2.14 0.58 0.41 1.03 0.61 0.35 0.73
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,384 672 26 0.00 0.00 5,995 -480 -300 703 58 663
Operating Cash Flow to CapEx		 9.78% 43.90% 644.09% 0.00% 0.00% 50.85% 4,981.22% 0.00% 0.00% 9,842.02% 0.00%
Free Cash Flow to Firm to Interest Expense		 -66.78 8.84 0.28 0.00 188.81 51.47 -3.75 -2.00 3.44 0.33 3.63
Operating Cash Flow to Interest Expense		 3.47 2.98 3.25 2.58 2.72 2.59 2.46 2.47 1.14 0.93 0.66
Operating Cash Flow Less CapEx to Interest Expense		 -32.01 -3.81 2.75 8.05 4.12 -2.51 2.41 3.25 5.23 0.92 1.83
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.36 0.17 0.11 0.11 0.11 0.10 0.10 0.11 0.11 0.10 0.11
Accounts Receivable Turnover		 83.91 76.52 129.55 79.88 60.58 45.85 37.81 48.68 45.97 43.06 56.48
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.44 0.00 0.00 0.00 0.00 0.00 26.81 10.87 7.65 6.85 8.33
Accounts Payable Turnover		 0.00 0.00 0.00 1.59 0.00 0.00 1.25 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 4.35 4.77 2.82 4.57 6.03 7.96 9.65 7.50 7.94 8.48 6.46
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 460.35 0.00 0.00 291.71 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 4.35 4.77 2.82 -451.21 12.05 7.96 -282.05 7.50 7.94 8.48 6.46
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,695 5,773 5,884 34,101 14,442 8,574 9,201 9,612 8,929 8,839 8,167
Invested Capital Turnover		 0.39 0.19 0.12 0.12 0.08 0.07 0.10 0.11 0.10 0.09 0.10
Increase / (Decrease) in Invested Capital		 3,431 78 111 56,610 -33,286 -5,868 626 412 -683 -90 -694
Enterprise Value (EV)		 6,433 5,325 6,660 14,008 29,259 7,044 7,845 6,455 5,836 5,098 4,254
Market Capitalization		 1,785 2,276 4,007 3,521 4,643 3,036 3,249 1,265 1,289 428 587
Book Value per Share		 $57.35 $34.51 $23.31 $22.61 $22.05 $22.76 $21.75 $20.44 $18.82 $17.21 $6.71
Tangible Book Value per Share		 $57.25 $31.30 $21.78 $41.65 $40.42 $20.83 $18.80 $15.77 $14.63 $13.78 $5.88
Total Capital		 9,834 6,260 6,392 6,827 20,518 7,703 8,265 8,537 7,573 7,421 6,623
Total Debt		 2,355 2,547 2,471 8,621 9,120 3,597 3,928 4,652 4,011 4,243 3,418
Total Long-Term Debt		 2,355 2,547 2,471 8,621 9,120 3,597 3,928 4,652 4,011 4,243 3,418
Net Debt		 2,302 2,438 2,370 8,270 8,874 3,366 3,577 4,186 3,640 3,922 3,009
Capital Expenditures (CapEx)		 1,798 517 45 -909 -296 594 6.32 -118 -837 1.67 -214
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 330 348 310 -69 -189 -158 -157 -148 -85 -37 -108
Debt-free Net Working Capital (DFNWC)		 384 456 411 -75 -72 -8.75 40 137 34 62 54
Net Working Capital (NWC)		 384 456 411 -75 -72 -8.75 40 137 34 62 54
Net Nonoperating Expense (NNE)		 63 706 42 74 0.00 111 117 128 191 349 561
Net Nonoperating Obligations (NNO)		 -1,784 2,060 1,963 6,307 8,874 4,468 4,864 5,728 5,368 5,661 4,962
Total Depreciation and Amortization (D&A)		 230 253 276 475 547 294 336 369 395 354 380
Debt-free, Cash-free Net Working Capital to Revenue		 21.12% 32.49% 42.58% -14.51% -15.97% -19.66% -17.46% -14.46% -8.92% -4.42% -12.98%
Debt-free Net Working Capital to Revenue		 24.55% 42.59% 56.49% -5.14% -8.85% -1.09% 4.49% 13.38% 3.59% 7.35% 6.53%
Net Working Capital to Revenue		 24.55% 42.59% 56.49% -5.14% -8.85% -1.09% 4.49% 13.38% 3.59% 7.35% 6.53%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.19) $0.49 $0.44 $0.63 $0.56 $0.00 $0.04 ($0.39) $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 85.93M 251.78M 307.77M 311.46M 619.00M 153.13M 151.62M 143.73M 140.95M 141.19M 44.68M
Adjusted Diluted Earnings per Share		 ($0.49) $0.48 $0.44 $0.63 $0.56 $0.00 $0.04 ($0.39) $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 85.93M 257.11M 308.55M 623.92M 625.43M 153.17M 151.94M 143.73M 140.95M 141.19M 44.68M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 257.90M 0.00 0.00 0.00 0.00 0.00 151.20M 141.06M 141.11M 141.35M 54.24M
Normalized Net Operating Profit after Tax (NOPAT)		 64 525 96 208 228 89 102 112 20 -32 -31
Normalized NOPAT Margin		 4.06% 49.00% 13.13% 14.29% 27.83% 11.10% 11.40% 10.89% 2.13% -3.81% -3.75%
Pre Tax Income Margin		 51.54% 62.90% 12.99% 15.35% 6.83% 2.04% 3.23% -1.61% -17.21% -45.10% -71.30%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.93 9.86 2.05 2.32 2.99 1.10 1.18 0.87 0.21 -1.11 -2.28
NOPAT to Interest Expense		 0.94 9.86 1.52 3.58 1.54 1.10 1.14 0.75 0.10 -0.18 -0.17
EBIT Less CapEx to Interest Expense		 -34.55 3.07 1.54 7.79 5.79 -4.00 1.13 1.65 4.30 -1.12 -1.11
NOPAT Less CapEx to Interest Expense		 -34.55 3.07 1.01 7.25 2.93 -4.00 1.09 1.53 4.20 -0.19 1.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -559.38% 273.68% 247.48% 145.24% 305.42% 1,109.06% 916.00% -1,459.79% -127.21% -18.17% -7.28%
Augmented Payout Ratio		 -559.38% 3,578.31% 576.21% 189.97% 306.36% 1,694.94% 1,076.40% -1,688.51% -128.01% -18.19% -8.29%

Quarterly Metrics And Ratios for Hudson Pacific Properties

This table displays calculated financial ratios and metrics derived from Hudson Pacific Properties' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 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 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 379,497,228.00 54,242,024.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 54,213,890.00 54,242,024.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -5.13 -0.98
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -11.10% -17.23% -15.16% -11.08% -13.42% -6.16% -7.27% -12.84% -6.87% 22.11% -8.37%
EBITDA Growth		 -5.21% -51.60% -39.76% -27.65% -74.43% -159.64% -27.15% -34.16% -127.23% -253.51% 16.37%
EBIT Growth		 -40.78% -176.61% -123.82% -104.94% -429.14% -277.41% -261.54% -3,901.01% -81.28% -83.91% 59.37%
NOPAT Growth		 -92.52% -138.55% -130.26% -117.41% -750.83% 1.60% -247.07% -1,370.75% -21.64% 419.96% 50.79%
Net Income Growth		 -426.38% -1,467.49% -260.09% -51.10% -199.32% -95.68% -50.46% -84.54% -34.64% -61.50% 36.59%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24.88% 0.00%
Operating Cash Flow Growth		 -48.45% -77.49% -29.60% -39.79% -10.67% -98.24% -53.11% -105.73% -47.95% 36,507.41% 45.05%
Free Cash Flow Firm Growth		 99.54% 274.99% 356.04% 238.55% 1,443.58% -88.16% -88.30% -55.25% -40.12% 1,159.42% 653.91%
Invested Capital Growth		 0.51% -7.11% -7.19% -5.72% -6.70% -1.01% -1.11% -3.02% -4.40% -7.84% -6.96%
Revenue Q/Q Growth		 -5.60% -3.47% -4.21% 1.86% -8.08% 4.63% -5.35% -4.26% -1.78% 37.19% -28.97%
EBITDA Q/Q Growth		 -2.42% -40.91% 20.06% 4.52% -65.51% -237.81% 246.65% -5.54% -114.26% -1,689.06% 148.28%
EBIT Q/Q Growth		 -12.99% -298.42% 72.78% 89.48% -5,695.94% -127.51% 73.93% -16.36% -162.60% -130.82% 94.24%
NOPAT Q/Q Growth		 -79.96% -575.43% 49.67% 63.68% -648.97% 28.12% -77.52% -53.90% 38.06% 289.07% -127.30%
Net Income Q/Q Growth		 -13.59% -147.98% 39.82% 10.87% -125.02% -62.11% 53.73% -9.32% -64.18% -94.45% 81.83%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 20.60% -87.08% 606.53% -45.30% 78.95% -99.75% 18,749.38% -106.68% 1,726.32% 78.75% -25.31%
Free Cash Flow Firm Q/Q Growth		 88.22% 1,536.08% 1.47% -19.31% 14.27% -87.35% 0.33% 208.49% 52.92% 93.11% -17.24%
Invested Capital Q/Q Growth		 -0.41% -7.13% -0.51% 2.45% -1.44% -1.47% -0.61% 0.47% -2.83% -4.78% 0.09%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 49.86% 30.52% 38.25% 39.24% 14.73% -19.39% 30.05% 29.65% -4.31% -56.15% 38.16%
Operating Margin		 1.37% -6.76% -3.55% -1.27% -10.31% -7.08% -13.29% -21.36% -13.47% 18.56% -7.14%
EBIT Margin		 7.50% -15.42% -4.38% -0.45% -28.52% -62.01% -17.08% -20.76% -55.51% -93.40% -7.57%
Profit (Net Income) Margin		 -15.45% -39.68% -24.93% -21.82% -53.40% -82.74% -40.45% -46.19% -77.21% -109.43% -27.99%
Tax Burden Percent		 98.83% 101.05% 100.00% 101.08% 102.08% 99.40% 100.24% 100.52% 100.02% 99.66% 100.69%
Interest Burden Percent		 -208.36% 254.67% 569.00% 4,771.50% 183.44% 134.24% 236.22% 221.31% 139.06% 117.56% 367.04%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.10% -0.49% -0.25% -0.08% -0.66% -0.47% -0.87% -1.33% -0.84% 1.27% -0.48%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.56% -1.89% -1.11% -0.88% -2.27% -3.43% -1.98% -2.43% -3.20% -4.62% -1.26%
Return on Net Nonoperating Assets (RNNOA)		 -0.84% -2.82% -1.70% -1.40% -3.70% -5.61% -3.37% -3.67% -5.03% -7.71% -2.16%
Return on Equity (ROE)		 -0.74% -3.31% -1.94% -1.48% -4.36% -6.08% -4.24% -5.01% -5.87% -6.44% -2.64%
Cash Return on Invested Capital (CROIC)		 0.10% 7.59% 7.43% 5.73% 6.58% 0.65% 0.60% 2.27% 3.64% 7.79% 6.95%
Operating Return on Assets (OROA)		 0.82% -1.67% -0.46% -0.05% -2.82% -6.36% -1.74% -2.01% -5.41% -10.08% -0.81%
Return on Assets (ROA)		 -1.69% -4.29% -2.62% -2.22% -5.28% -8.49% -4.11% -4.48% -7.52% -11.81% -2.99%
Return on Common Equity (ROCE)		 -0.55% -2.46% -1.49% -1.12% -3.31% -4.59% -3.31% -3.96% -4.66% -5.02% -2.05%
Return on Equity Simple (ROE_SIMPLE)		 -2.76% 0.00% -6.57% -7.20% -9.80% 0.00% -14.68% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 2.22 -11 -5.32 -1.93 -14 -10 -18 -28 -18 33 -9.08
NOPAT Margin		 0.96% -4.73% -2.48% -0.89% -7.22% -4.96% -9.30% -14.95% -9.43% 12.99% -4.99%
Net Nonoperating Expense Percent (NNEP)		 0.66% 1.41% 0.86% 0.79% 1.61% 2.96% 1.11% 1.10% 2.36% 5.89% 0.78%
Return On Investment Capital (ROIC_SIMPLE)		 - -0.14% - - - -0.14% -0.25% -0.38% -0.25% 0.51% -0.14%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 56.03% 60.57% 60.63% 61.45% 67.06% 64.59% 66.38% 71.49% 63.05% 45.10% 62.75%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 98.63% 106.76% 103.55% 101.27% 110.31% 107.08% 113.29% 121.36% 113.47% 81.44% 107.14%
Earnings before Interest and Taxes (EBIT)		 17 -34 -9.38 -0.99 -57 -130 -34 -39 -104 -239 -14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 115 68 82 86 30 -41 60 56 -8.04 -144 69
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.33 0.49 0.33 0.25 0.26 0.18 0.18 0.13 0.37 0.23 0.13
Price to Tangible Book Value (P/TBV)		 0.43 0.63 0.41 0.32 0.34 0.22 0.22 0.16 0.45 0.26 0.15
Price to Revenue (P/Rev)		 0.92 1.35 0.98 0.77 0.79 0.51 0.50 0.49 1.33 0.71 0.39
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 13.40% 9.57% 2.74% 2.08% 2.09% 3.30% 3.39% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.63 0.65 0.60 0.58 0.59 0.58 0.57 0.50 0.57 0.52 0.49
Enterprise Value to Revenue (EV/Rev)		 6.05 6.13 5.79 5.97 6.17 6.05 6.10 5.48 6.21 5.12 4.89
Enterprise Value to EBITDA (EV/EBITDA)		 11.85 13.33 13.78 15.10 19.93 32.62 37.59 41.77 72.43 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 49.69 138.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 103.71 287.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 22.90 25.13 25.82 29.22 30.41 30.96 38.73 47.38 78.79 35.16 29.55
Enterprise Value to Free Cash Flow (EV/FCFF)		 654.43 8.30 7.72 9.87 8.64 88.04 94.90 21.56 15.25 6.41 6.75
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.20 1.13 1.19 1.21 1.26 1.34 1.37 1.02 1.04 1.07 1.09
Long-Term Debt to Equity		 1.20 1.13 1.19 1.21 1.26 1.34 1.37 1.02 1.04 1.07 1.09
Financial Leverage		 1.51 1.49 1.54 1.59 1.63 1.64 1.70 1.51 1.57 1.67 1.72
Leverage Ratio		 2.39 2.36 2.39 2.41 2.45 2.44 2.48 2.31 2.36 2.41 2.44
Compound Leverage Factor		 -4.98 6.02 13.58 115.20 4.49 3.27 5.86 5.11 3.28 2.84 8.95
Debt to Total Capital		 54.61% 52.97% 54.30% 54.74% 55.69% 57.18% 57.83% 50.48% 50.96% 51.61% 52.05%
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% 0.00%
Long-Term Debt to Total Capital		 54.61% 52.97% 54.30% 54.74% 55.69% 57.18% 57.83% 50.48% 50.96% 51.61% 52.05%
Preferred Equity to Total Capital		 5.18% 5.61% 5.63% 5.57% 5.63% 5.73% 5.79% 5.71% 5.98% 6.42% 6.48%
Noncontrolling Interests to Total Capital		 6.67% 6.38% 3.54% 4.28% 4.22% 4.34% 4.26% 4.28% 3.34% 3.52% 3.51%
Common Equity to Total Capital		 33.55% 35.03% 36.53% 35.42% 34.46% 32.75% 32.12% 39.53% 39.73% 38.46% 37.97%
Debt to EBITDA		 8.78 9.16 10.69 11.91 15.87 27.15 31.67 35.84 53.84 -95.40 -131.10
Net Debt to EBITDA		 8.14 8.32 9.63 11.02 14.58 25.10 28.97 30.98 47.03 -83.99 -115.34
Long-Term Debt to EBITDA		 8.78 9.16 10.69 11.91 15.87 27.15 31.67 35.84 53.84 -95.40 -131.10
Debt to NOPAT		 76.91 197.42 -1,595.69 -268.08 -130.29 -132.13 -93.80 -52.38 -48.38 -109.57 -156.59
Net Debt to NOPAT		 71.24 179.12 -1,438.47 -248.07 -119.72 -122.15 -85.81 -45.27 -42.26 -96.46 -137.77
Long-Term Debt to NOPAT		 76.91 197.42 -1,595.69 -268.08 -130.29 -132.13 -93.80 -52.38 -48.38 -109.57 -156.59
Altman Z-Score		 0.22 0.27 0.23 0.19 0.16 0.11 0.15 0.16 0.21 0.10 0.16
Noncontrolling Interest Sharing Ratio		 25.87% 25.69% 23.26% 23.98% 24.27% 24.57% 21.85% 20.94% 20.58% 22.01% 22.31%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.87 1.17 1.22 1.00 0.89 1.28 1.33 1.70 1.33 1.26 1.11
Quick Ratio		 0.35 0.61 0.68 0.42 0.36 0.35 0.51 1.12 0.84 0.73 0.66
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -47 673 682 551 629 80 80 246 377 728 602
Operating Cash Flow to CapEx		 0.00% 0.00% 1,283.31% 673.51% 801.72% 0.00% 0.00% 0.00% 623.39% 0.00% 1,120.75%
Free Cash Flow to Firm to Interest Expense		 -0.87 12.84 15.48 12.47 13.98 1.80 1.76 4.95 8.99 15.96 15.85
Operating Cash Flow to Interest Expense		 1.33 0.18 1.48 0.81 1.42 0.00 0.67 -0.04 0.79 1.30 1.17
Operating Cash Flow Less CapEx to Interest Expense		 2.52 13.06 1.36 0.69 1.24 0.38 1.96 0.34 0.66 4.41 1.06
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.11 0.11 0.10 0.10 0.10 0.10 0.10 0.10 0.11 0.11
Accounts Receivable Turnover		 51.19 45.97 46.69 47.72 49.88 43.06 46.66 50.37 54.00 56.48 63.71
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 8.17 7.65 7.49 7.38 7.17 6.85 6.66 6.39 6.16 8.33 8.09
Accounts Payable Turnover		 1.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 7.13 7.94 7.82 7.65 7.32 8.48 7.82 7.25 6.76 6.46 5.73
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 274.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -267.61 7.94 7.82 7.65 7.32 8.48 7.82 7.25 6.76 6.46 5.73
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 9,615 8,929 8,884 9,102 8,971 8,839 8,785 8,827 8,577 8,167 8,174
Invested Capital Turnover		 0.10 0.10 0.10 0.09 0.09 0.09 0.09 0.09 0.09 0.10 0.10
Increase / (Decrease) in Invested Capital		 49 -683 -688 -553 -644 -90 -98 -275 -394 -694 -611
Enterprise Value (EV)		 6,046 5,836 5,289 5,299 5,283 5,098 5,038 4,378 4,872 4,254 3,981
Market Capitalization		 920 1,289 900 679 675 428 417 387 1,046 587 321
Book Value per Share		 $19.54 $18.82 $19.54 $19.17 $18.43 $17.21 $16.68 $20.80 $7.45 $6.71 $45.95
Tangible Book Value per Share		 $15.12 $14.63 $15.41 $14.96 $14.26 $13.78 $13.32 $17.21 $6.08 $5.88 $40.11
Total Capital		 8,209 7,573 7,551 7,637 7,552 7,421 7,340 7,442 7,107 6,623 6,564
Total Debt		 4,483 4,011 4,100 4,180 4,206 4,243 4,244 3,757 3,621 3,418 3,416
Total Long-Term Debt		 4,483 4,011 4,100 4,180 4,206 4,243 4,244 3,757 3,621 3,418 3,416
Net Debt		 4,153 3,640 3,696 3,868 3,864 3,922 3,883 3,247 3,163 3,009 3,006
Capital Expenditures (CapEx)		 -64 -675 5.08 5.29 7.95 -17 -58 -19 5.32 -142 3.95
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -129 -85 -88 -101 -145 -37 -70 -112 -134 -108 -138
Debt-free Net Working Capital (DFNWC)		 -35 34 45 -0.80 -31 62 64 155 80 54 25
Net Working Capital (NWC)		 -35 34 45 -0.80 -31 62 64 155 80 54 25
Net Nonoperating Expense (NNE)		 38 78 48 46 93 163 62 59 126 313 42
Net Nonoperating Obligations (NNO)		 5,889 5,368 5,433 5,645 5,625 5,661 5,690 5,142 5,091 4,962 5,027
Total Depreciation and Amortization (D&A)		 98 103 91 87 87 89 94 96 96 95 83
Debt-free, Cash-free Net Working Capital to Revenue		 -12.88% -8.92% -9.67% -11.36% -16.97% -4.42% -8.50% -13.99% -17.13% -12.98% -16.92%
Debt-free Net Working Capital to Revenue		 -3.45% 3.59% 4.94% -0.09% -3.66% 7.35% 7.70% 19.46% 10.19% 6.53% 3.02%
Net Working Capital to Revenue		 -3.45% 3.59% 4.94% -0.09% -3.66% 7.35% 7.70% 19.46% 10.19% 6.53% 3.02%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($6.22) $0.00
Adjusted Weighted Average Basic Shares Outstanding		 140.94M 140.95M 141.12M 141.18M 141.23M 141.19M 141.39M 202.67M 451.03M 44.68M 64.46M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($6.22) $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 140.94M 140.95M 141.12M 141.18M 141.23M 141.19M 141.39M 202.67M 451.03M 44.68M 64.46M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($6.22) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 140.94M 141.11M 141.14M 141.23M 141.23M 141.35M 141.39M 379.15M 379.50M 54.24M 54.24M
Normalized Net Operating Profit after Tax (NOPAT)		 2.22 -11 -5.32 -1.93 -14 -10 -18 -28 -18 33 -9.08
Normalized NOPAT Margin		 0.96% -4.73% -2.48% -0.89% -7.22% -4.96% -9.30% -14.95% -9.43% 12.99% -4.99%
Pre Tax Income Margin		 -15.63% -39.27% -24.93% -21.58% -52.31% -83.24% -40.35% -45.95% -77.20% -109.80% -27.80%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.32 -0.66 -0.21 -0.02 -1.27 -2.95 -0.75 -0.79 -2.47 -5.24 -0.36
NOPAT to Interest Expense		 0.04 -0.20 -0.12 -0.04 -0.32 -0.24 -0.41 -0.57 -0.42 0.73 -0.24
EBIT Less CapEx to Interest Expense		 1.51 12.22 -0.33 -0.14 -1.45 -2.57 0.54 -0.41 -2.60 -2.13 -0.47
NOPAT Less CapEx to Interest Expense		 1.23 12.68 -0.24 -0.16 -0.50 0.14 0.88 -0.18 -0.55 3.84 -0.34
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -216.57% -127.21% -92.50% -69.78% -48.28% -18.17% -11.90% -9.67% -8.58% -7.28% -7.53%
Augmented Payout Ratio		 -218.13% -128.01% -92.50% -69.82% -48.30% -18.19% -11.90% -10.87% -9.80% -8.29% -8.61%

Financials Breakdown Chart

Key Financial Trends

Hudson Pacific Properties (NYSE: HPP) continues to show the kind of pressure that has defined the last several years: weak earnings, inconsistent operating cash flow, and a balance sheet that still leans heavily on debt. The Q1 2026 results were better than the immediately prior quarter on several operating measures, but the company is still not producing meaningful profits, and leverage remains a major investor concern.

What stands out most in Q1 2026: revenue held relatively steady, operating cash flow was positive, and cash on hand improved slightly. However, the company still posted a net loss, and interest expense remains large relative to operating income.

  • Operating cash flow was positive at $44.3 million in Q1 2026, showing the core business can still generate cash despite accounting losses.
  • Cash & equivalents increased slightly to $138.0 million from $190.4 million at Q3 2025, supported by a small positive net change in cash for the quarter.
  • Total revenue in Q1 2026 was $181.9 million, roughly in line with recent quarters, suggesting some revenue stability.
  • Operating loss improved versus Q4 2025, with operating income at -$13.0 million compared with $47.5 million of operating income in Q4 2025, but the quarter was still far better than the much larger losses seen earlier in 2025.
  • The company reduced long-term debt from $3.62 billion in Q3 2025 to $3.42 billion in Q1 2026, which is a constructive step.
  • Revenue in Q1 2026 was down modestly from $186.6 million in Q3 2025 and $256.0 million in Q4 2025, but the business remains within a relatively narrow quarterly range recently.
  • Q1 2026 included $5.8 million of acquisitions and $4.0 million of capital spending, so the company is still investing, but on a limited scale.
  • Share count remains elevated after repeated equity issuance, which helps liquidity but dilutes existing shareholders over time.
  • Hudson Pacific posted a net loss of $50.9 million in Q1 2026, or -$53.1 million attributable to common shareholders.
  • Interest expense was still very high at $38.0 million in Q1 2026, limiting the company’s ability to convert operating income into net profit.
  • The balance sheet remains debt-heavy, with $3.42 billion of long-term debt versus $3.09 billion of total equity and noncontrolling interests.
  • Over the last four years, profitability has been consistently weak: the company has posted losses in essentially every quarter shown, with several large quarterly losses in 2024 and 2025.
  • Operating performance has been volatile, with quarterly revenue falling from the low $200 million range in 2024 to the high $100 million range in 2025 and Q1 2026.

Longer-term trend: Hudson Pacific appears to be in a slow recovery phase, but not yet a healthy one. The company has shown it can produce positive operating cash flow, and debt has come down from earlier peaks, but earnings remain deeply negative and financing costs are still heavy. For retail investors, the main question is whether management can stabilize office and studio cash flows enough to support the balance sheet without continued dilution or asset sales.

Bottom line: Q1 2026 was not a turnaround quarter, but it did show some signs of stabilization. Investors should watch for sustained revenue improvement, further debt reduction, and a continued return to positive operating cash flow before calling the stock fundamentally fixed.

06/04/26 02:47 AM ETAI Generated. May Contain Errors.

Hudson Pacific Properties Financials - Frequently Asked Questions

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

Hudson Pacific Properties' net income appears to be on an upward trend, with a most recent value of -$592.30 million in 2025, rising from -$16.08 million in 2015. The previous period was -$381.41 million in 2024. View Hudson Pacific Properties' forecast to see where analysts expect Hudson Pacific Properties to go next.

Hudson Pacific Properties' total operating income in 2025 was -$44.56 million, based on the following breakdown:
  • Total Gross Profit: $831.11 million
  • Total Operating Expenses: $875.66 million

Over the last 10 years, Hudson Pacific Properties' total revenue changed from $1.56 billion in 2015 to $831.11 million in 2025, a change of -46.8%.

Hudson Pacific Properties' total liabilities were at $4.06 billion at the end of 2025, a 18.0% decrease from 2024, and a 61.6% increase since 2015.

In the past 10 years, Hudson Pacific Properties' cash and equivalents has ranged from $46.22 million in 2019 to $255.76 million in 2022, and is currently $138.36 million as of their latest financial filing in 2025.

Over the last 10 years, Hudson Pacific Properties' book value per share changed from 57.35 in 2015 to 6.71 in 2025, a change of -88.3%.


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Financial statements for NYSE:HPP last updated on 6/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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