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Side-by-side financial comparison of Howard Hughes Holdings Inc. (HHH) and LANDSTAR SYSTEM INC (LSTR). Click either name above to swap in a different company.
LANDSTAR SYSTEM INC is the larger business by last-quarter revenue ($1.2B vs $624.4M, roughly 1.9× Howard Hughes Holdings Inc.). LANDSTAR SYSTEM INC runs the higher net margin — 3.4% vs 1.0%, a 2.4% gap on every dollar of revenue. On growth, LANDSTAR SYSTEM INC posted the faster year-over-year revenue change (1.6% vs -33.2%). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% CAGR vs -2.2%).
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.
Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, ...
HHH vs LSTR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $624.4M | $1.2B |
| Net Profit | $6.0M | $39.4M |
| Gross Margin | — | 9.6% |
| Operating Margin | 4.2% | 4.5% |
| Net Margin | 1.0% | 3.4% |
| Revenue YoY | -33.2% | 1.6% |
| Net Profit YoY | -96.2% | 32.3% |
| EPS (diluted) | $0.20 | $1.16 |
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 | — | $1.2B | ||
| Q4 25 | $624.4M | $1.2B | ||
| Q3 25 | $390.2M | $1.2B | ||
| Q2 25 | $260.9M | $1.2B | ||
| Q1 25 | $199.3M | $1.2B | ||
| Q4 24 | $935.0M | $1.2B | ||
| Q3 24 | $327.1M | $1.2B | ||
| Q2 24 | $317.4M | $1.2B |
| Q1 26 | — | $39.4M | ||
| Q4 25 | $6.0M | $23.9M | ||
| Q3 25 | $119.5M | $19.4M | ||
| Q2 25 | $-12.1M | $41.9M | ||
| Q1 25 | $10.5M | $29.8M | ||
| Q4 24 | $156.3M | $46.2M | ||
| Q3 24 | $72.8M | $50.0M | ||
| Q2 24 | $21.1M | $52.6M |
| Q1 26 | — | 9.6% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 4.5% | ||
| Q4 25 | 4.2% | 2.5% | ||
| Q3 25 | 48.6% | 2.2% | ||
| Q2 25 | 26.0% | 4.6% | ||
| Q1 25 | 24.0% | 3.4% | ||
| Q4 24 | 33.5% | 4.8% | ||
| Q3 24 | 60.6% | 5.2% | ||
| Q2 24 | 20.4% | 5.6% |
| Q1 26 | — | 3.4% | ||
| Q4 25 | 1.0% | 2.0% | ||
| Q3 25 | 30.6% | 1.6% | ||
| Q2 25 | -4.7% | 3.5% | ||
| Q1 25 | 5.3% | 2.6% | ||
| Q4 24 | 16.7% | 3.8% | ||
| Q3 24 | 22.2% | 4.1% | ||
| Q2 24 | 6.6% | 4.3% |
| Q1 26 | — | $1.16 | ||
| Q4 25 | $0.20 | $0.70 | ||
| Q3 25 | $2.02 | $0.56 | ||
| Q2 25 | $-0.22 | $1.20 | ||
| Q1 25 | $0.21 | $0.85 | ||
| Q4 24 | $3.14 | $1.30 | ||
| Q3 24 | $1.46 | $1.41 | ||
| Q2 24 | $0.42 | $1.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5B | $411.0M |
| Total DebtLower is stronger | $5.1B | $26.1M |
| Stockholders' EquityBook value | $3.8B | $799.0M |
| Total Assets | $10.6B | $1.6B |
| Debt / EquityLower = less leverage | 1.35× | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $411.0M | ||
| Q4 25 | $1.5B | $452.2M | ||
| Q3 25 | $1.5B | $434.4M | ||
| Q2 25 | $1.4B | $426.2M | ||
| Q1 25 | $493.7M | $473.4M | ||
| Q4 24 | $596.1M | $566.6M | ||
| Q3 24 | $400.7M | $531.3M | ||
| Q2 24 | $436.8M | $504.0M |
| Q1 26 | — | $26.1M | ||
| Q4 25 | $5.1B | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $5.1B | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 |
| Q1 26 | — | $799.0M | ||
| Q4 25 | $3.8B | $795.7M | ||
| Q3 25 | $3.8B | $888.7M | ||
| Q2 25 | $3.6B | $921.8M | ||
| Q1 25 | $2.8B | $930.8M | ||
| Q4 24 | $2.8B | $972.4M | ||
| Q3 24 | $2.6B | $1.0B | ||
| Q2 24 | $3.0B | $1.0B |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $10.6B | $1.6B | ||
| Q3 25 | $10.7B | $1.7B | ||
| Q2 25 | $10.3B | $1.7B | ||
| Q1 25 | $9.3B | $1.7B | ||
| Q4 24 | $9.2B | $1.8B | ||
| Q3 24 | $9.4B | $1.8B | ||
| Q2 24 | $9.9B | $1.8B |
| Q1 26 | — | 0.03× | ||
| Q4 25 | 1.35× | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 1.85× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
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 | $360.3M | — |
| Free Cash FlowOCF − Capex | $348.6M | — |
| FCF MarginFCF / Revenue | 55.8% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | 60.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $417.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $360.3M | $72.7M | ||
| Q3 25 | $149.8M | $89.3M | ||
| Q2 25 | $177.3M | $7.1M | ||
| Q1 25 | $-224.9M | $55.7M | ||
| Q4 24 | $337.1M | $61.1M | ||
| Q3 24 | $248.3M | $83.1M | ||
| Q2 24 | $-17.5M | $48.1M |
| Q1 26 | — | — | ||
| Q4 25 | $348.6M | $70.5M | ||
| Q3 25 | $137.7M | $86.0M | ||
| Q2 25 | $169.7M | $4.7M | ||
| Q1 25 | $-238.4M | $53.8M | ||
| Q4 24 | $317.1M | $54.4M | ||
| Q3 24 | $238.7M | $75.6M | ||
| Q2 24 | $-25.1M | $40.6M |
| Q1 26 | — | — | ||
| Q4 25 | 55.8% | 6.0% | ||
| Q3 25 | 35.3% | 7.1% | ||
| Q2 25 | 65.1% | 0.4% | ||
| Q1 25 | -119.6% | 4.7% | ||
| Q4 24 | 33.9% | 4.5% | ||
| Q3 24 | 73.0% | 6.2% | ||
| Q2 24 | -7.9% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 0.2% | ||
| Q3 25 | 3.1% | 0.3% | ||
| Q2 25 | 2.9% | 0.2% | ||
| Q1 25 | 6.8% | 0.2% | ||
| Q4 24 | 2.1% | 0.6% | ||
| Q3 24 | 2.9% | 0.6% | ||
| Q2 24 | 2.4% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 60.04× | 3.04× | ||
| Q3 25 | 1.25× | 4.61× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | -21.35× | 1.87× | ||
| Q4 24 | 2.16× | 1.32× | ||
| Q3 24 | 3.41× | 1.66× | ||
| Q2 24 | -0.83× | 0.91× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HHH
| Transferred At Point In Time | $499.8M | 80% |
| Operating Assets Segment | $117.9M | 19% |
| Builder Price Participation | $12.9M | 2% |
LSTR
Segment breakdown not available.
