Howard Hughes vs Newmark Group
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KIRA’s take AI analyst
I put Howard Hughes and Newmark Group side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
- Howard Hughes turned more of its sales into free cash flow (28.3% FCF margin, against 4.3%).
- Newmark Group earned a higher return on the capital invested in it (8.6%, against 3.4%).
- Investors pay more for each dollar of Howard Hughes’s earnings: a P/E of 15.0x against 14.2x for Newmark Group.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Howard Hughes
HHH
4/8
Operating marginNet marginFCF marginShare count change
Newmark Group
NMRK
4/8
Revenue growthReturn on capitalReturn on equityNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | HHH FY25 | NMRK FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.3B | $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 | 15.0x | 14.2x |
| Piotroski F-score | — | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

