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Side-by-side financial comparison of Krispy Kreme, Inc. (DNUT) and Howard Hughes Holdings Inc. (HHH). Click either name above to swap in a different company.
Howard Hughes Holdings Inc. is the larger business by last-quarter revenue ($624.4M vs $392.4M, roughly 1.6× Krispy Kreme, Inc.). Howard Hughes Holdings Inc. runs the higher net margin — 1.0% vs -7.1%, a 8.0% gap on every dollar of revenue. On growth, Krispy Kreme, Inc. posted the faster year-over-year revenue change (-2.9% vs -33.2%). Howard Hughes Holdings Inc. produced more free cash flow last quarter ($348.6M vs $27.9M). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% CAGR vs -5.9%).
Krispy Kreme, Inc. is an American multinational doughnut company and coffeehouse chain. Krispy Kreme was founded by Vernon Rudolph (1915–1973), who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores. Steady growth preceded an ambitious expansion as a public company in the period 2000 to 2016, which ultimately proved unprofitable. In 2016, the company retur...
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.
DNUT vs HHH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $392.4M | $624.4M |
| Net Profit | $-27.8M | $6.0M |
| Gross Margin | — | — |
| Operating Margin | -1.9% | 4.2% |
| Net Margin | -7.1% | 1.0% |
| Revenue YoY | -2.9% | -33.2% |
| Net Profit YoY | -23.8% | -96.2% |
| EPS (diluted) | $-0.18 | $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 | $392.4M | $624.4M | ||
| Q3 25 | $375.3M | $390.2M | ||
| Q2 25 | $379.8M | $260.9M | ||
| Q1 25 | $375.2M | $199.3M | ||
| Q4 24 | $404.0M | $935.0M | ||
| Q3 24 | $379.9M | $327.1M | ||
| Q2 24 | $438.8M | $317.4M | ||
| Q1 24 | $442.7M | $171.1M |
| Q4 25 | $-27.8M | $6.0M | ||
| Q3 25 | $-19.4M | $119.5M | ||
| Q2 25 | $-435.3M | $-12.1M | ||
| Q1 25 | $-33.3M | $10.5M | ||
| Q4 24 | $-22.4M | $156.3M | ||
| Q3 24 | $39.6M | $72.8M | ||
| Q2 24 | $-5.5M | $21.1M | ||
| Q1 24 | $-8.5M | $-52.5M |
| Q4 25 | -1.9% | 4.2% | ||
| Q3 25 | -1.9% | 48.6% | ||
| Q2 25 | -114.4% | 26.0% | ||
| Q1 25 | -5.4% | 24.0% | ||
| Q4 24 | -2.8% | 33.5% | ||
| Q3 24 | -4.2% | 60.6% | ||
| Q2 24 | 1.6% | 20.4% | ||
| Q1 24 | 2.7% | -9.8% |
| Q4 25 | -7.1% | 1.0% | ||
| Q3 25 | -5.2% | 30.6% | ||
| Q2 25 | -114.6% | -4.7% | ||
| Q1 25 | -8.9% | 5.3% | ||
| Q4 24 | -5.6% | 16.7% | ||
| Q3 24 | 10.4% | 22.2% | ||
| Q2 24 | -1.3% | 6.6% | ||
| Q1 24 | -1.9% | -30.7% |
| Q4 25 | $-0.18 | $0.20 | ||
| Q3 25 | $-0.11 | $2.02 | ||
| Q2 25 | $-2.55 | $-0.22 | ||
| Q1 25 | $-0.20 | $0.21 | ||
| Q4 24 | $-0.13 | $3.14 | ||
| Q3 24 | $0.23 | $1.46 | ||
| Q2 24 | $-0.03 | $0.42 | ||
| Q1 24 | $-0.05 | $-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 | $42.4M | $1.5B |
| Total DebtLower is stronger | $911.9M | $5.1B |
| Stockholders' EquityBook value | $650.1M | $3.8B |
| Total Assets | $2.6B | $10.6B |
| Debt / EquityLower = less leverage | 1.40× | 1.35× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.4M | $1.5B | ||
| Q3 25 | $30.7M | $1.5B | ||
| Q2 25 | $21.3M | $1.4B | ||
| Q1 25 | $18.7M | $493.7M | ||
| Q4 24 | $29.0M | $596.1M | ||
| Q3 24 | $25.4M | $400.7M | ||
| Q2 24 | $28.6M | $436.8M | ||
| Q1 24 | $33.1M | $462.7M |
| Q4 25 | $911.9M | $5.1B | ||
| Q3 25 | $906.2M | — | ||
| Q2 25 | $889.4M | — | ||
| Q1 25 | $935.0M | — | ||
| Q4 24 | $844.5M | $5.1B | ||
| Q3 24 | $804.6M | — | ||
| Q2 24 | $895.0M | — | ||
| Q1 24 | $881.8M | — |
| Q4 25 | $650.1M | $3.8B | ||
| Q3 25 | $670.3M | $3.8B | ||
| Q2 25 | $693.6M | $3.6B | ||
| Q1 25 | $1.1B | $2.8B | ||
| Q4 24 | $1.1B | $2.8B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $1.1B | $3.0B | ||
| Q1 24 | $1.2B | $2.9B |
| Q4 25 | $2.6B | $10.6B | ||
| Q3 25 | $2.6B | $10.7B | ||
| Q2 25 | $2.6B | $10.3B | ||
| Q1 25 | $3.1B | $9.3B | ||
| Q4 24 | $3.1B | $9.2B | ||
| Q3 24 | $3.1B | $9.4B | ||
| Q2 24 | $3.2B | $9.9B | ||
| Q1 24 | $3.2B | $9.6B |
| Q4 25 | 1.40× | 1.35× | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 0.74× | 1.85× | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.79× | — | ||
| Q1 24 | 0.76× | — |
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 | $45.0M | $360.3M |
| Free Cash FlowOCF − Capex | $27.9M | $348.6M |
| FCF MarginFCF / Revenue | 7.1% | 55.8% |
| Capex IntensityCapex / Revenue | 4.4% | 1.9% |
| Cash ConversionOCF / Net Profit | — | 60.04× |
| TTM Free Cash FlowTrailing 4 quarters | $-64.0M | $417.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.0M | $360.3M | ||
| Q3 25 | $42.3M | $149.8M | ||
| Q2 25 | $-32.5M | $177.3M | ||
| Q1 25 | $-20.8M | $-224.9M | ||
| Q4 24 | $27.0M | $337.1M | ||
| Q3 24 | $3.3M | $248.3M | ||
| Q2 24 | $33.2M | $-17.5M | ||
| Q1 24 | $-17.7M | $-171.2M |
| Q4 25 | $27.9M | $348.6M | ||
| Q3 25 | $15.5M | $137.7M | ||
| Q2 25 | $-60.8M | $169.7M | ||
| Q1 25 | $-46.7M | $-238.4M | ||
| Q4 24 | $-6.9M | $317.1M | ||
| Q3 24 | $-22.9M | $238.7M | ||
| Q2 24 | $1.6M | $-25.1M | ||
| Q1 24 | $-46.8M | $-182.0M |
| Q4 25 | 7.1% | 55.8% | ||
| Q3 25 | 4.1% | 35.3% | ||
| Q2 25 | -16.0% | 65.1% | ||
| Q1 25 | -12.5% | -119.6% | ||
| Q4 24 | -1.7% | 33.9% | ||
| Q3 24 | -6.0% | 73.0% | ||
| Q2 24 | 0.4% | -7.9% | ||
| Q1 24 | -10.6% | -106.4% |
| Q4 25 | 4.4% | 1.9% | ||
| Q3 25 | 7.1% | 3.1% | ||
| Q2 25 | 7.4% | 2.9% | ||
| Q1 25 | 6.9% | 6.8% | ||
| Q4 24 | 8.4% | 2.1% | ||
| Q3 24 | 6.9% | 2.9% | ||
| Q2 24 | 7.2% | 2.4% | ||
| Q1 24 | 6.6% | 6.3% |
| Q4 25 | — | 60.04× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.35× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | 0.08× | 3.41× | ||
| Q2 24 | — | -0.83× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DNUT
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% |
