Howard Hughes Holdings Inc.

HHHNYSEReal Estate● Active

$65.13

$-0.13(-0.20%)

Market Cap$3.9B

P/E Ratio—

52W High$91.07

52W Low$61.01

Avg Volume496K

Open$65.58

Beta1.15

Overview

Howard Hughes Holdings Inc. (HHH) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

HHH · free cash flow · updated Jun 8, 2026

Core FCF metrics

HHH · FCF · TTM · margin & CAGR

Free cash flow was $440.8M for FY2025 (fiscal year ending 2025-12-31), up 25.6% year-over-year The FCF margin was 29.9%.

FY2025 Free Cash Flow$440.8M▲ +25.6% YoY

Trailing 12M (TTM)$444.4Mtrailing 4 quarters sum

FCF Margin29.9%$440.8M ÷ revenue

3-Year CAGR+10.9%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

HHH · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$462.4M(22M)$440.8M▲ +25.6%29.9%

FY2024$400.9M(50M)$350.9M▲ +218.6%20.0%

FY2023−$248.2M(48M)−$295.7M▼ 191.5%-28.9%

FY2022$325.3M(2M)$323.3M▲ +213.1%21.7%

FY2021−$284.0M(2M)−$285.8M▼ 283.7%-20.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

HHH · P/FCF · FCF yield · FCF per share

Howard Hughes Holdings Inc. (HHH) trades at a FCF yield of 11.44% and a price-to-free-cash-flow ratio of 8.6x. FCF per share stands at $7.55, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

11.44%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.55

TTM FCF ÷ Shares Outstanding

Price / FCF

x8.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x17.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

HHH · cash flow statement · operating / investing / financing

For FY2025, Howard Hughes Holdings Inc. generated $462.4M in operating cash flow and spent 22M in capital expenditures, yielding $440.8M in free cash flow.

Operating Activities

+$462.4M

Cash from core business operations

2025-12-31

Investing Activities

−$219.1M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$855.4M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($462.4M) − |CapEx| (22M) = FCF ($440.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

HHH vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Howard Hughes Holdings Inc.YOU

HHH

$440.8M+25.6%29.9%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Howard Hughes Holdings Inc. (HHH) reported free cash flow of $440.8M for FY2025 (fiscal year ending 2025-12-31), up 25.6% year-over-year. The FCF margin was 29.9%.

Based on available data, Howard Hughes Holdings Inc. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $440.8M in FY2025.

Howard Hughes Holdings Inc.'s FCF yield is 11.44% and price-to-FCF ratio is 8.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

HHH free cash flow · 8 questions

Howard Hughes Holdings Inc. free cash flow was $440.8M for FY2025, up 25.6% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $444.4M.

HHH free cash flowHHH FCFHHH FCF 2025HHH free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Howard Hughes Holdings Inc. · Howard Hughes Holdings Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026