vs
Side-by-side financial comparison of Howard Hughes Holdings Inc. (HHH) and H2O AMERICA (HTO). Click either name above to swap in a different company.
Howard Hughes Holdings Inc. is the larger business by last-quarter revenue ($235.9M vs $199.4M, roughly 1.2× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs 3.4%, a 4.7% gap on every dollar of revenue. On growth, Howard Hughes Holdings Inc. posted the faster year-over-year revenue change (18.4% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -13.8%).
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.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
HHH vs HTO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $235.9M | $199.4M |
| Net Profit | $8.1M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 121.6% | 16.6% |
| Net Margin | 3.4% | 8.1% |
| Revenue YoY | 18.4% | 1.5% |
| Net Profit YoY | -25.6% | -29.2% |
| EPS (diluted) | $0.14 | $0.45 |
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.
| Q1 26 | $235.9M | — | ||
| Q4 25 | $624.4M | $199.4M | ||
| Q3 25 | $390.2M | $243.5M | ||
| Q2 25 | $260.9M | $197.8M | ||
| Q1 25 | $199.3M | $164.9M | ||
| Q4 24 | $935.0M | $196.5M | ||
| Q3 24 | $327.1M | $216.7M | ||
| Q2 24 | $317.4M | $173.1M |
| Q1 26 | $8.1M | — | ||
| Q4 25 | $6.0M | $16.2M | ||
| Q3 25 | $119.5M | $45.1M | ||
| Q2 25 | $-12.1M | $24.7M | ||
| Q1 25 | $10.5M | $16.6M | ||
| Q4 24 | $156.3M | $22.9M | ||
| Q3 24 | $72.8M | $38.7M | ||
| Q2 24 | $21.1M | $20.7M |
| Q1 26 | 121.6% | — | ||
| Q4 25 | 4.2% | 16.6% | ||
| Q3 25 | 48.6% | 26.5% | ||
| Q2 25 | 26.0% | 22.2% | ||
| Q1 25 | 24.0% | 21.8% | ||
| Q4 24 | 33.5% | 22.2% | ||
| Q3 24 | 60.6% | 26.9% | ||
| Q2 24 | 20.4% | 23.4% |
| Q1 26 | 3.4% | — | ||
| Q4 25 | 1.0% | 8.1% | ||
| Q3 25 | 30.6% | 18.5% | ||
| Q2 25 | -4.7% | 12.5% | ||
| Q1 25 | 5.3% | 10.0% | ||
| Q4 24 | 16.7% | 11.7% | ||
| Q3 24 | 22.2% | 17.8% | ||
| Q2 24 | 6.6% | 12.0% |
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.20 | $0.45 | ||
| Q3 25 | $2.02 | $1.27 | ||
| Q2 25 | $-0.22 | $0.71 | ||
| Q1 25 | $0.21 | $0.49 | ||
| Q4 24 | $3.14 | $0.70 | ||
| Q3 24 | $1.46 | $1.17 | ||
| Q2 24 | $0.42 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.8B | $20.7M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $3.8B | $1.5B |
| Total Assets | $11.2B | $5.1B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.5B | $20.7M | ||
| Q3 25 | $1.5B | $11.3M | ||
| Q2 25 | $1.4B | $19.8M | ||
| Q1 25 | $493.7M | $23.7M | ||
| Q4 24 | $596.1M | $11.1M | ||
| Q3 24 | $400.7M | $4.0M | ||
| Q2 24 | $436.8M | $22.8M |
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.1B | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.8B | $1.5B | ||
| Q3 25 | $3.8B | $1.5B | ||
| Q2 25 | $3.6B | $1.5B | ||
| Q1 25 | $2.8B | $1.4B | ||
| Q4 24 | $2.8B | $1.4B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $3.0B | $1.3B |
| Q1 26 | $11.2B | — | ||
| Q4 25 | $10.6B | $5.1B | ||
| Q3 25 | $10.7B | $5.0B | ||
| Q2 25 | $10.3B | $4.8B | ||
| Q1 25 | $9.3B | $4.7B | ||
| Q4 24 | $9.2B | $4.7B | ||
| Q3 24 | $9.4B | $4.6B | ||
| Q2 24 | $9.9B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 1.35× | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.85× | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $63.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $360.3M | $63.5M | ||
| Q3 25 | $149.8M | $77.3M | ||
| Q2 25 | $177.3M | $60.8M | ||
| Q1 25 | $-224.9M | $43.2M | ||
| Q4 24 | $337.1M | $41.5M | ||
| Q3 24 | $248.3M | $53.5M | ||
| Q2 24 | $-17.5M | $49.3M |
| Q1 26 | — | — | ||
| Q4 25 | $348.6M | — | ||
| Q3 25 | $137.7M | — | ||
| Q2 25 | $169.7M | — | ||
| Q1 25 | $-238.4M | — | ||
| Q4 24 | $317.1M | — | ||
| Q3 24 | $238.7M | — | ||
| Q2 24 | $-25.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | 55.8% | — | ||
| Q3 25 | 35.3% | — | ||
| Q2 25 | 65.1% | — | ||
| Q1 25 | -119.6% | — | ||
| Q4 24 | 33.9% | — | ||
| Q3 24 | 73.0% | — | ||
| Q2 24 | -7.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 2.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 60.04× | 3.92× | ||
| Q3 25 | 1.25× | 1.71× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | -21.35× | 2.61× | ||
| Q4 24 | 2.16× | 1.81× | ||
| Q3 24 | 3.41× | 1.39× | ||
| Q2 24 | -0.83× | 2.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HHH
| Rental revenue | $113.5M | 48% |
| Master Planned Communities land sales | $99.6M | 42% |
| Other revenues | $11.0M | 5% |
| Builder price participation | $8.7M | 4% |
| Condominium rights and unit sales | $3.1M | 1% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
