Howard Hughes Holdings Inc. Common Stock (HHH)

FairStock Score: 39/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Howard Hughes as a real estate man would: land, entitlements, and patient capital. The company develops master planned communities and owns operating assets. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $1.1B and net income $158.4M, a sharp rebound from fiscal Q2 2025 when revenue was $260.9M and it lost $12.1M. That volatility is the nature of land sales. For the full fiscal year 2025, revenue was $1.5B and net income $123.9M, down from $197.7M in fiscal 2024, after a $551.8M loss in fiscal 2023. The Lynch category labels it a turnaround, and the recent quarter supports that. At $72.49 on 2026-10-13, market cap $4.3B, FairStock's P/B is 1.08 and P/E 14.33. Graham Number $86.94 implies 16.62% margin of safety. FCF yield 18.0% is attractive. But the balance sheet worries me: debt-to-equity 1.35 and Altman Z 0.65 suggest financial fragility. ROE 7.49% and ROCE 2.82% are pedestrian; real estate deserves leverage only when returns exceed cost of capital. Piotroski 6/9 is middling, FairStock score 39/100. The moat, if any, lies in long-dated land positions and barriers to entitlement, not in pricing power. I want assets bought cheap, but cyclical developers can look cheap just before earnings normalize. The price is fair-to-modestly-cheap versus asset value, not a fat pitch given leverage and lumpy profits.

In plain English: Howard Hughes Holdings develops large planned communities and owns some retail, office, and apartment properties, mostly in the United States. The business is uneven: it lost money in fiscal 2023 but has recently returned to profit, with a very strong fiscal Q2 2026. At $72.49 on 2026-10-13, the stock looks fair to modestly cheap compared with its assets, but debt is high and profits can swing sharply.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer