Howard Hughes Holdings Inc. cash flow statement

In fiscal 2025, Howard Hughes Holdings Inc.'s operations generated $462m of cash; it spent $44.8m on capital projects, leaving free cash flow of $418m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Howard Hughes Holdings Inc.: cash flow statement, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash from operations	−284	325	−258	397	462	787
Depreciation and amortisation	205	155	169	180	183	199
Stock-based pay	10	12	16	16	20	16
Capital spending	36	43	40	48	45	47
Free cash flow	−320	282	−299	349	418	740
Free cash flow after stock pay	−330	270	−315	333	398	724
Share buybacks	81	404	0	0	—	—
Shares issued	—	—	0	0	863	—

US$ millions unless shown otherwise. Fiscal quarters.

Howard Hughes Holdings Inc.: cash flow statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Cash from operations	248	337	−225	177	150	360	−229	507
Depreciation and amortisation	44	45	45	44	46	47	49	57
Stock-based pay	5	4	4	7	4	4	4	4
Capital spending	12	20	14	8	12	12	15	8
Free cash flow	236	317	−238	170	138	349	−244	498
Free cash flow after stock pay	232	313	−243	162	133	345	−248	494
Shares issued	0	0	—	—	−0	0	—	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Howard Hughes Holdings Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Howard Hughes Holdings Inc.