vs
Side-by-side financial comparison of Howard Hughes Holdings Inc. (HHH) and Royalty Pharma plc (RPRX). 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 $622.0M, roughly 1.0× Royalty Pharma plc). Royalty Pharma plc runs the higher net margin — 34.4% vs 1.0%, a 33.5% gap on every dollar of revenue. On growth, Royalty Pharma plc posted the faster year-over-year revenue change (4.8% vs -33.2%). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% CAGR vs 4.6%).
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.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
HHH vs RPRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $624.4M | $622.0M |
| Net Profit | $6.0M | $214.2M |
| Gross Margin | — | — |
| Operating Margin | 4.2% | 62.4% |
| Net Margin | 1.0% | 34.4% |
| Revenue YoY | -33.2% | 4.8% |
| Net Profit YoY | -96.2% | 2.9% |
| EPS (diluted) | $0.20 | $0.49 |
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 | $624.4M | $622.0M | ||
| Q3 25 | $390.2M | $609.3M | ||
| Q2 25 | $260.9M | $578.7M | ||
| Q1 25 | $199.3M | $568.2M | ||
| Q4 24 | $935.0M | $593.6M | ||
| Q3 24 | $327.1M | $564.7M | ||
| Q2 24 | $317.4M | $537.3M | ||
| Q1 24 | $171.1M | $568.0M |
| Q4 25 | $6.0M | $214.2M | ||
| Q3 25 | $119.5M | $288.2M | ||
| Q2 25 | $-12.1M | $30.2M | ||
| Q1 25 | $10.5M | $238.3M | ||
| Q4 24 | $156.3M | $208.2M | ||
| Q3 24 | $72.8M | $544.0M | ||
| Q2 24 | $21.1M | $102.0M | ||
| Q1 24 | $-52.5M | $4.8M |
| Q4 25 | 4.2% | 62.4% | ||
| Q3 25 | 48.6% | 70.1% | ||
| Q2 25 | 26.0% | 36.3% | ||
| Q1 25 | 24.0% | 94.0% | ||
| Q4 24 | 33.5% | 60.9% | ||
| Q3 24 | 60.6% | — | ||
| Q2 24 | 20.4% | 50.2% | ||
| Q1 24 | -9.8% | -13.0% |
| Q4 25 | 1.0% | 34.4% | ||
| Q3 25 | 30.6% | 47.3% | ||
| Q2 25 | -4.7% | 5.2% | ||
| Q1 25 | 5.3% | 41.9% | ||
| Q4 24 | 16.7% | 35.1% | ||
| Q3 24 | 22.2% | 96.3% | ||
| Q2 24 | 6.6% | 19.0% | ||
| Q1 24 | -30.7% | 0.8% |
| Q4 25 | $0.20 | $0.49 | ||
| Q3 25 | $2.02 | $0.67 | ||
| Q2 25 | $-0.22 | $0.07 | ||
| Q1 25 | $0.21 | $0.55 | ||
| Q4 24 | $3.14 | $0.46 | ||
| Q3 24 | $1.46 | $1.21 | ||
| Q2 24 | $0.42 | $0.23 | ||
| Q1 24 | $-1.06 | $0.01 |
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 | $618.7M |
| Total DebtLower is stronger | $5.1B | $9.0B |
| Stockholders' EquityBook value | $3.8B | $9.7B |
| Total Assets | $10.6B | $19.6B |
| Debt / EquityLower = less leverage | 1.35× | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $618.7M | ||
| Q3 25 | $1.5B | $938.9M | ||
| Q2 25 | $1.4B | $631.9M | ||
| Q1 25 | $493.7M | $1.1B | ||
| Q4 24 | $596.1M | $929.0M | ||
| Q3 24 | $400.7M | $950.1M | ||
| Q2 24 | $436.8M | $1.8B | ||
| Q1 24 | $462.7M | $843.0M |
| Q4 25 | $5.1B | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $5.1B | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
| Q4 25 | $3.8B | $9.7B | ||
| Q3 25 | $3.8B | $9.6B | ||
| Q2 25 | $3.6B | $9.5B | ||
| Q1 25 | $2.8B | $9.8B | ||
| Q4 24 | $2.8B | $10.3B | ||
| Q3 24 | $2.6B | $10.3B | ||
| Q2 24 | $3.0B | $9.8B | ||
| Q1 24 | $2.9B | $9.9B |
| Q4 25 | $10.6B | $19.6B | ||
| Q3 25 | $10.7B | $19.3B | ||
| Q2 25 | $10.3B | $18.3B | ||
| Q1 25 | $9.3B | $17.6B | ||
| Q4 24 | $9.2B | $18.2B | ||
| Q3 24 | $9.4B | $18.0B | ||
| Q2 24 | $9.9B | $17.7B | ||
| Q1 24 | $9.6B | $16.1B |
| Q4 25 | 1.35× | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | 1.85× | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| Free Cash FlowOCF − Capex | $348.6M | — |
| FCF MarginFCF / Revenue | 55.8% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | 60.04× | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $417.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $360.3M | $827.1M | ||
| Q3 25 | $149.8M | $702.6M | ||
| Q2 25 | $177.3M | $364.0M | ||
| Q1 25 | $-224.9M | $596.1M | ||
| Q4 24 | $337.1M | $742.5M | ||
| Q3 24 | $248.3M | $703.6M | ||
| Q2 24 | $-17.5M | $658.2M | ||
| Q1 24 | $-171.2M | $664.6M |
| 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 24 | $-182.0M | — |
| 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 24 | -106.4% | — |
| 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 24 | 6.3% | — |
| Q4 25 | 60.04× | 3.86× | ||
| Q3 25 | 1.25× | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | -21.35× | 2.50× | ||
| Q4 24 | 2.16× | 3.57× | ||
| Q3 24 | 3.41× | 1.29× | ||
| Q2 24 | -0.83× | 6.45× | ||
| Q1 24 | — | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
