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Side-by-side financial comparison of AvalonBay Communities (AVB) and Howard Hughes Holdings Inc. (HHH). Click either name above to swap in a different company.
AvalonBay Communities is the larger business by last-quarter revenue ($767.9M vs $624.4M, roughly 1.2× Howard Hughes Holdings Inc.). AvalonBay Communities runs the higher net margin — 9040.6% vs 1.0%, a 9039.6% gap on every dollar of revenue. On growth, AvalonBay Communities posted the faster year-over-year revenue change (3.7% vs -33.2%). AvalonBay Communities produced more free cash flow last quarter ($1.4B vs $348.6M). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% CAGR vs 3.8%).
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
Howard Hughes Holdings Inc., formerly the Howard Hughes Corporation, is a real estate development and management company based in The Woodlands, Texas. It was formed in 2010 as a spin-off from General Growth Properties (GGP). Most of its holdings are focused on several master-planned communities. It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.
AVB vs HHH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $767.9M | $624.4M |
| Net Profit | $166.0M | $6.0M |
| Gross Margin | — | — |
| Operating Margin | 64.2% | 4.2% |
| Net Margin | 9040.6% | 1.0% |
| Revenue YoY | 3.7% | -33.2% |
| Net Profit YoY | -41.2% | -96.2% |
| EPS (diluted) | $1.18 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $767.9M | $624.4M | ||
| Q3 25 | $766.8M | $390.2M | ||
| Q2 25 | $760.2M | $260.9M | ||
| Q1 25 | $745.9M | $199.3M | ||
| Q4 24 | $740.5M | $935.0M | ||
| Q3 24 | $734.3M | $327.1M | ||
| Q2 24 | $726.0M | $317.4M | ||
| Q1 24 | $712.9M | $171.1M |
| Q4 25 | $166.0M | $6.0M | ||
| Q3 25 | $381.3M | $119.5M | ||
| Q2 25 | $268.7M | $-12.1M | ||
| Q1 25 | $236.6M | $10.5M | ||
| Q4 24 | $282.1M | $156.3M | ||
| Q3 24 | $372.5M | $72.8M | ||
| Q2 24 | $253.9M | $21.1M | ||
| Q1 24 | $173.4M | $-52.5M |
| Q4 25 | 64.2% | 4.2% | ||
| Q3 25 | 65.7% | 48.6% | ||
| Q2 25 | 67.6% | 26.0% | ||
| Q1 25 | 68.5% | 24.0% | ||
| Q4 24 | 63.1% | 33.5% | ||
| Q3 24 | 65.4% | 60.6% | ||
| Q2 24 | 66.6% | 20.4% | ||
| Q1 24 | 67.2% | -9.8% |
| Q4 25 | 9040.6% | 1.0% | ||
| Q3 25 | 49.7% | 30.6% | ||
| Q2 25 | 35.3% | -4.7% | ||
| Q1 25 | 31.7% | 5.3% | ||
| Q4 24 | 38.1% | 16.7% | ||
| Q3 24 | 50.7% | 22.2% | ||
| Q2 24 | 35.0% | 6.6% | ||
| Q1 24 | 24.3% | -30.7% |
| Q4 25 | $1.18 | $0.20 | ||
| Q3 25 | $2.68 | $2.02 | ||
| Q2 25 | $1.88 | $-0.22 | ||
| Q1 25 | $1.66 | $0.21 | ||
| Q4 24 | $1.99 | $3.14 | ||
| Q3 24 | $2.61 | $1.46 | ||
| Q2 24 | $1.78 | $0.42 | ||
| Q1 24 | $1.22 | $-1.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $187.2M | $1.5B |
| Total DebtLower is stronger | $9.3B | $5.1B |
| Stockholders' EquityBook value | $11.6B | $3.8B |
| Total Assets | $22.2B | $10.6B |
| Debt / EquityLower = less leverage | 0.80× | 1.35× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $1.5B | ||
| Q3 25 | $123.3M | $1.5B | ||
| Q2 25 | $102.8M | $1.4B | ||
| Q1 25 | $53.3M | $493.7M | ||
| Q4 24 | $108.6M | $596.1M | ||
| Q3 24 | $552.4M | $400.7M | ||
| Q2 24 | $545.8M | $436.8M | ||
| Q1 24 | $287.9M | $462.7M |
| Q4 25 | $9.3B | $5.1B | ||
| Q3 25 | $8.7B | — | ||
| Q2 25 | $8.7B | — | ||
| Q1 25 | $8.3B | — | ||
| Q4 24 | $8.1B | $5.1B | ||
| Q3 24 | $8.4B | — | ||
| Q2 24 | $8.4B | — | ||
| Q1 24 | $8.0B | — |
| Q4 25 | $11.6B | $3.8B | ||
| Q3 25 | $11.9B | $3.8B | ||
| Q2 25 | $11.9B | $3.6B | ||
| Q1 25 | $11.9B | $2.8B | ||
| Q4 24 | $11.9B | $2.8B | ||
| Q3 24 | $11.9B | $2.6B | ||
| Q2 24 | $11.7B | $3.0B | ||
| Q1 24 | $11.7B | $2.9B |
| Q4 25 | $22.2B | $10.6B | ||
| Q3 25 | $21.9B | $10.7B | ||
| Q2 25 | $21.8B | $10.3B | ||
| Q1 25 | $21.2B | $9.3B | ||
| Q4 24 | $21.0B | $9.2B | ||
| Q3 24 | $21.3B | $9.4B | ||
| Q2 24 | $21.0B | $9.9B | ||
| Q1 24 | $20.6B | $9.6B |
| Q4 25 | 0.80× | 1.35× | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.68× | 1.85× | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.68× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7B | $360.3M |
| Free Cash FlowOCF − Capex | $1.4B | $348.6M |
| FCF MarginFCF / Revenue | 183.5% | 55.8% |
| Capex IntensityCapex / Revenue | 34.1% | 1.9% |
| Cash ConversionOCF / Net Profit | 10.07× | 60.04× |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $417.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $360.3M | ||
| Q3 25 | $477.0M | $149.8M | ||
| Q2 25 | $377.8M | $177.3M | ||
| Q1 25 | $415.9M | $-224.9M | ||
| Q4 24 | $1.6B | $337.1M | ||
| Q3 24 | $486.2M | $248.3M | ||
| Q2 24 | $380.0M | $-17.5M | ||
| Q1 24 | $412.9M | $-171.2M |
| Q4 25 | $1.4B | $348.6M | ||
| Q3 25 | $402.2M | $137.7M | ||
| Q2 25 | $317.1M | $169.7M | ||
| Q1 25 | $367.5M | $-238.4M | ||
| Q4 24 | $1.4B | $317.1M | ||
| Q3 24 | $434.2M | $238.7M | ||
| Q2 24 | $333.0M | $-25.1M | ||
| Q1 24 | $375.4M | $-182.0M |
| Q4 25 | 183.5% | 55.8% | ||
| Q3 25 | 52.5% | 35.3% | ||
| Q2 25 | 41.7% | 65.1% | ||
| Q1 25 | 49.3% | -119.6% | ||
| Q4 24 | 191.0% | 33.9% | ||
| Q3 24 | 59.1% | 73.0% | ||
| Q2 24 | 45.9% | -7.9% | ||
| Q1 24 | 52.7% | -106.4% |
| Q4 25 | 34.1% | 1.9% | ||
| Q3 25 | 9.8% | 3.1% | ||
| Q2 25 | 8.0% | 2.9% | ||
| Q1 25 | 6.5% | 6.8% | ||
| Q4 24 | 26.1% | 2.1% | ||
| Q3 24 | 7.1% | 2.9% | ||
| Q2 24 | 6.5% | 2.4% | ||
| Q1 24 | 5.3% | 6.3% |
| Q4 25 | 10.07× | 60.04× | ||
| Q3 25 | 1.25× | 1.25× | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 1.76× | -21.35× | ||
| Q4 24 | 5.70× | 2.16× | ||
| Q3 24 | 1.31× | 3.41× | ||
| Q2 24 | 1.50× | -0.83× | ||
| Q1 24 | 2.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVB
Segment breakdown not available.
HHH
| Transferred At Point In Time | $499.8M | 80% |
| Operating Assets Segment | $117.9M | 19% |
| Builder Price Participation | $12.9M | 2% |
