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Side-by-side financial comparison of Howard Hughes Holdings Inc. (HHH) and NORTHERN OIL & GAS, INC. (NOG). Click either name above to swap in a different company.
NORTHERN OIL & GAS, INC. is the larger business by last-quarter revenue ($610.2M vs $235.9M, roughly 2.6× Howard Hughes Holdings Inc.). Howard Hughes Holdings Inc. runs the higher net margin — 3.4% vs -11.6%, a 15.0% gap on every dollar of revenue. On growth, Howard Hughes Holdings Inc. posted the faster year-over-year revenue change (18.4% vs -72.6%). Over the past eight quarters, NORTHERN OIL & GAS, INC.'s revenue compounded faster (4.3% 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.
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
HHH vs NOG — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $235.9M | $610.2M |
| Net Profit | $8.1M | $-70.7M |
| Gross Margin | — | — |
| Operating Margin | 121.6% | — |
| Net Margin | 3.4% | -11.6% |
| Revenue YoY | 18.4% | -72.6% |
| Net Profit YoY | -25.6% | -198.7% |
| EPS (diluted) | $0.14 | $-0.73 |
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 | $610.2M | ||
| Q4 25 | $624.4M | $610.2M | ||
| Q3 25 | $390.2M | $556.6M | ||
| Q2 25 | $260.9M | $706.8M | ||
| Q1 25 | $199.3M | $602.1M | ||
| Q4 24 | $935.0M | $515.0M | ||
| Q3 24 | $327.1M | $753.6M | ||
| Q2 24 | $317.4M | $560.8M |
| Q1 26 | $8.1M | $-70.7M | ||
| Q4 25 | $6.0M | $-70.7M | ||
| Q3 25 | $119.5M | $-129.1M | ||
| Q2 25 | $-12.1M | $99.6M | ||
| Q1 25 | $10.5M | $139.0M | ||
| Q4 24 | $156.3M | $71.7M | ||
| Q3 24 | $72.8M | $298.4M | ||
| Q2 24 | $21.1M | $138.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 80.4% | ||
| Q3 25 | — | 78.7% | ||
| Q2 25 | — | 82.8% | ||
| Q1 25 | — | 81.1% | ||
| Q4 24 | — | 77.4% | ||
| Q3 24 | — | 85.8% | ||
| Q2 24 | — | 82.0% |
| Q1 26 | 121.6% | — | ||
| Q4 25 | 4.2% | -5.5% | ||
| Q3 25 | 48.6% | -22.6% | ||
| Q2 25 | 26.0% | 24.9% | ||
| Q1 25 | 24.0% | 38.1% | ||
| Q4 24 | 33.5% | 25.8% | ||
| Q3 24 | 60.6% | 57.6% | ||
| Q2 24 | 20.4% | 39.0% |
| Q1 26 | 3.4% | -11.6% | ||
| Q4 25 | 1.0% | -11.6% | ||
| Q3 25 | 30.6% | -23.2% | ||
| Q2 25 | -4.7% | 14.1% | ||
| Q1 25 | 5.3% | 23.1% | ||
| Q4 24 | 16.7% | 13.9% | ||
| Q3 24 | 22.2% | 39.6% | ||
| Q2 24 | 6.6% | 24.7% |
| Q1 26 | $0.14 | $-0.73 | ||
| Q4 25 | $0.20 | $-0.67 | ||
| Q3 25 | $2.02 | $-1.33 | ||
| Q2 25 | $-0.22 | $1.00 | ||
| Q1 25 | $0.21 | $1.39 | ||
| Q4 24 | $3.14 | $0.71 | ||
| Q3 24 | $1.46 | $2.96 | ||
| Q2 24 | $0.42 | $1.36 |
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 | $14.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $2.1B |
| Total Assets | $11.2B | $5.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | $14.3M | ||
| Q4 25 | $1.5B | $14.3M | ||
| Q3 25 | $1.5B | $31.6M | ||
| Q2 25 | $1.4B | $25.9M | ||
| Q1 25 | $493.7M | $33.6M | ||
| Q4 24 | $596.1M | $8.9M | ||
| Q3 24 | $400.7M | $34.4M | ||
| Q2 24 | $436.8M | $7.8M |
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $2.4B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | $5.1B | $2.4B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | $3.8B | $2.1B | ||
| Q4 25 | $3.8B | $2.1B | ||
| Q3 25 | $3.8B | $2.2B | ||
| Q2 25 | $3.6B | $2.4B | ||
| Q1 25 | $2.8B | $2.4B | ||
| Q4 24 | $2.8B | $2.3B | ||
| Q3 24 | $2.6B | $2.3B | ||
| Q2 24 | $3.0B | $2.1B |
| Q1 26 | $11.2B | $5.4B | ||
| Q4 25 | $10.6B | $5.4B | ||
| Q3 25 | $10.7B | $5.5B | ||
| Q2 25 | $10.3B | $5.7B | ||
| Q1 25 | $9.3B | $5.7B | ||
| Q4 24 | $9.2B | $5.6B | ||
| Q3 24 | $9.4B | $5.1B | ||
| Q2 24 | $9.9B | $4.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.35× | 1.13× | ||
| Q3 25 | — | 1.05× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.96× | ||
| Q4 24 | 1.85× | 1.02× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.91× |
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 | — | $312.6M |
| Free Cash FlowOCF − Capex | — | $43.2M |
| FCF MarginFCF / Revenue | — | 7.1% |
| Capex IntensityCapex / Revenue | — | 31.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $312.6M | ||
| Q4 25 | $360.3M | $312.6M | ||
| Q3 25 | $149.8M | $423.1M | ||
| Q2 25 | $177.3M | $362.1M | ||
| Q1 25 | $-224.9M | $407.4M | ||
| Q4 24 | $337.1M | $290.3M | ||
| Q3 24 | $248.3M | $385.8M | ||
| Q2 24 | $-17.5M | $340.5M |
| Q1 26 | — | $43.2M | ||
| 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 | — | 7.1% | ||
| 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 | — | 31.5% | ||
| 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× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | — | 3.64× | ||
| Q1 25 | -21.35× | 2.93× | ||
| Q4 24 | 2.16× | 4.05× | ||
| Q3 24 | 3.41× | 1.29× | ||
| Q2 24 | -0.83× | 2.46× |
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% |
NOG
| Oil and Gas Sales | $447.7M | 73% |
| Gain on Commodity Derivatives, Net | $159.3M | 26% |
| Other Revenue | $3.1M | 1% |
