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Side-by-side financial comparison of Howard Hughes Holdings Inc. (HHH) and VinFast Auto Ltd. (VFS). Click either name above to swap in a different company.
VinFast Auto Ltd. is the larger business by last-quarter revenue ($718.6M vs $624.4M, roughly 1.2× Howard Hughes Holdings Inc.). Howard Hughes Holdings Inc. runs the higher net margin — 1.0% vs -2.8%, a 3.7% gap on every dollar of revenue.
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.
VinFast Auto Ltd. is a Vietnamese multinational automotive company founded by Vingroup, one of the largest private conglomerates in Vietnam that was founded by Phạm Nhật Vượng.
HHH vs VFS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $624.4M | $718.6M |
| Net Profit | $6.0M | $-20.0M |
| Gross Margin | — | — |
| Operating Margin | 4.2% | -96.1% |
| Net Margin | 1.0% | -2.8% |
| Revenue YoY | -33.2% | — |
| Net Profit YoY | -96.2% | — |
| EPS (diluted) | $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 | $624.4M | — | ||
| Q3 25 | $390.2M | $718.6M | ||
| Q2 25 | $260.9M | $663.0M | ||
| Q1 25 | $199.3M | $656.5M | ||
| Q4 24 | $935.0M | — | ||
| Q3 24 | $327.1M | $511.6M | ||
| Q2 24 | $317.4M | — | ||
| Q1 24 | $171.1M | $302.6M |
| Q4 25 | $6.0M | — | ||
| Q3 25 | $119.5M | $-20.0M | ||
| Q2 25 | $-12.1M | $-51.8M | ||
| Q1 25 | $10.5M | $-26.1M | ||
| Q4 24 | $156.3M | — | ||
| Q3 24 | $72.8M | $-10.4M | ||
| Q2 24 | $21.1M | — | ||
| Q1 24 | $-52.5M | $-618.3M |
| Q4 25 | 4.2% | — | ||
| Q3 25 | 48.6% | -96.1% | ||
| Q2 25 | 26.0% | -79.0% | ||
| Q1 25 | 24.0% | -74.0% | ||
| Q4 24 | 33.5% | — | ||
| Q3 24 | 60.6% | -65.9% | ||
| Q2 24 | 20.4% | — | ||
| Q1 24 | -9.8% | -139.4% |
| Q4 25 | 1.0% | — | ||
| Q3 25 | 30.6% | -2.8% | ||
| Q2 25 | -4.7% | -7.8% | ||
| Q1 25 | 5.3% | -4.0% | ||
| Q4 24 | 16.7% | — | ||
| Q3 24 | 22.2% | -2.0% | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | -30.7% | -204.3% |
| Q4 25 | $0.20 | — | ||
| Q3 25 | $2.02 | — | ||
| Q2 25 | $-0.22 | — | ||
| Q1 25 | $0.21 | — | ||
| Q4 24 | $3.14 | — | ||
| Q3 24 | $1.46 | — | ||
| Q2 24 | $0.42 | — | ||
| Q1 24 | $-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 | $1.5B | $8.8M |
| Total DebtLower is stronger | $5.1B | — |
| Stockholders' EquityBook value | $3.8B | — |
| Total Assets | $10.6B | $183.2M |
| Debt / EquityLower = less leverage | 1.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $8.8M | ||
| Q2 25 | $1.4B | $650.0M | ||
| Q1 25 | $493.7M | $2.4M | ||
| Q4 24 | $596.1M | — | ||
| Q3 24 | $400.7M | $1.9M | ||
| Q2 24 | $436.8M | — | ||
| Q1 24 | $462.7M | $3.0M |
| Q4 25 | $5.1B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $3.6B | $-7.2B | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $10.6B | — | ||
| Q3 25 | $10.7B | $183.2M | ||
| Q2 25 | $10.3B | $7.2B | ||
| Q1 25 | $9.3B | $158.2M | ||
| Q4 24 | $9.2B | — | ||
| Q3 24 | $9.4B | $151.8M | ||
| Q2 24 | $9.9B | — | ||
| Q1 24 | $9.6B | $145.6M |
| Q4 25 | 1.35× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.85× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $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.
| Q4 25 | $360.3M | — | ||
| Q3 25 | $149.8M | — | ||
| Q2 25 | $177.3M | — | ||
| Q1 25 | $-224.9M | — | ||
| Q4 24 | $337.1M | — | ||
| Q3 24 | $248.3M | — | ||
| Q2 24 | $-17.5M | — | ||
| Q1 24 | $-171.2M | — |
| 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 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× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -21.35× | — | ||
| Q4 24 | 2.16× | — | ||
| Q3 24 | 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
HHH
| Transferred At Point In Time | $499.8M | 80% |
| Operating Assets Segment | $117.9M | 19% |
| Builder Price Participation | $12.9M | 2% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
