Howard Hughes
HHH · Real Estate Services
$70.19
1.0%Newmark Group
NMRK · Real Estate Services
$11.52
2.5%The short version
- Newmark Group is the larger business, with $3.3B of revenue in fiscal 2025 against $1.5B for Howard Hughes, about 2.2 times as much.
- Newmark Group grew revenue faster (20.3%, against −15.8%).
- Howard Hughes kept more of each dollar of sales as operating profit (22.5% operating margin, against 7.1% operating margin).
- Howard Hughes turned more of its sales into free cash flow (28.3% FCF margin, against 4.3% FCF margin).
- Newmark Group earned a higher return on the capital invested in it (8.6%, against 3.4%).
- Investors pay more for each dollar of Newmark Group’s earnings: a P/E of 14.4x against 14.3x for Howard Hughes.
| Latest fiscal year | HHH · FY25 | NMRK · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.2B | $2.9B |
| Revenue | $1.5B | $3.3B |
| Free cash flow | $418M | $143M |
| Net income | $124M | $126M |
| Growth | ||
| Revenue growth | −15.8% | 20.3% |
| 5-year growth | — | 11.6% |
| Share count change | 12.3% | 42.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 22.5% | 7.1% |
| Net margin | 8.4% | 3.8% |
| FCF margin | 28.3% | 4.3% |
| Return on capital | 3.4% | 8.6% |
| Return on equity | 3.8% | 9.5% |
| Balance sheet | ||
| Net debt | $3.6B | $443M |
| Net debt / EBITDA | 7.1x | 1.1x |
| Dividends and buybacks | $0.0M | $127M |
| Valuation & quality | ||
| P/E | 14.3x | 14.4x |
| Piotroski F-score | — | 7 |
FY16
HHH —
NMRK $1.4B
FY17
HHH —
NMRK $1.6B
FY18
HHH —
NMRK $2.0B
FY19
HHH —
NMRK $2.2B
FY20
HHH —
NMRK $1.9B
FY21
HHH $1.4B
NMRK $2.9B
FY22
HHH $1.5B
NMRK $2.7B
FY23
HHH $909M
NMRK $2.5B
FY24
HHH $1.8B
NMRK $2.7B
FY25
HHH $1.5B
NMRK $3.3B
HHH
NMRK
FY16
HHH —
NMRK 12.4%
FY17
HHH —
NMRK 12.5%
FY18
HHH —
NMRK 16.2%
FY19
HHH —
NMRK 11.1%
FY20
HHH —
NMRK 9.7%
FY21
HHH 16.9%
NMRK 43.2%
FY22
HHH 28.5%
NMRK 6.9%
FY23
HHH 23.8%
NMRK 5.1%
FY24
HHH 32.0%
NMRK 6.0%
FY25
HHH 22.5%
NMRK 7.1%
HHH
NMRK
FY16
HHH —
NMRK −$671M
FY17
HHH —
NMRK $835M
FY18
HHH —
NMRK −$353M
FY19
HHH —
NMRK $952M
FY20
HHH —
NMRK −$797M
FY21
HHH −$320M
NMRK −$68.4M
FY22
HHH $282M
NMRK $1.1B
FY23
HHH −$299M
NMRK −$321M
FY24
HHH $349M
NMRK −$41.5M
FY25
HHH $418M
NMRK $143M
HHH
NMRK
FY16
HHH —
NMRK —
FY17
HHH —
NMRK —
FY18
HHH —
NMRK 21.2%
FY19
HHH —
NMRK 13.5%
FY20
HHH —
NMRK 10.2%
FY21
HHH —
NMRK 70.0%
FY22
HHH —
NMRK 8.1%
FY23
HHH —
NMRK 4.0%
FY24
HHH 5.8%
NMRK 5.4%
FY25
HHH 3.4%
NMRK 8.6%
HHH
NMRK
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.