Howard Hughes Holdings Inc. key statistics and ratios
In fiscal 2025, Howard Hughes Holdings Inc. had return on equity of 3.8%, an operating margin of 22.5% and debt equal to 136.3% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|
| Operating margin | 16.9% | 28.5% | 23.8% | 32.0% | 22.5% | 21.3% |
| Net margin | 3.9% | 12.4% | −60.7% | 11.3% | 8.4% | 12.3% |
| Free-cash-flow margin | −22.4% | 18.9% | −32.9% | 19.9% | 28.3% | 31.2% |
| Return on equity | 1.5% | 5.1% | −16.9% | 6.9% | 3.8% | 7.6% |
| Return on assets | — | 1.9% | −5.8% | 2.1% | 1.2% | 2.2% |
| Asset turnover | — | 0.16 | 0.09 | 0.19 | 0.15 | 0.18 |
| Debt to equity | 0.0% | 0.0% | 178.8% | 186.2% | 136.3% | 129.9% |
| Interest cover (operating income ÷ interest) | 1.9x | 3.8x | 1.4x | 3.4x | 2.0x | 2.9x |
| Effective tax rate | 23.6% | 24.5% | 24.1% | 21.9% | 23.3% | 23.8% |
| Capital spending as % of revenue | 2.5% | 2.9% | 4.4% | 2.7% | 3.0% | 2.0% |
| Free cash flow ÷ net income | −570.2% | 152.9% | — | 176.3% | 337.1% | 253.5% |
| Dividends and buybacks ÷ free cash flow | — | 143.2% | — | 0.0% | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 29.7% | −18.0% | 24.0% | 26.0% | 48.6% | 4.2% | 21.5% | 21.3% |
| Net margin | 22.2% | 72.2% | 5.3% | −4.7% | 30.6% | 1.0% | 3.5% | 14.1% |
| Free-cash-flow margin | 72.2% | 146.5% | −119.6% | 65.1% | 35.3% | 55.8% | −103.5% | 44.4% |
| Debt to equity | — | 184.7% | — | — | — | 135.3% | — | — |
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
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