NYSE : HOV
Hovnanian Enterprises, Inc. — Financial statements
Consumer Discretionary · Residential Construction · United States
Last price 102.45 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 610.59M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Hovnanian Enterprises, Inc. (HOV) reported revenue of 2.82B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year November - October; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 2.73B | 2.88B | 2.93B | 2.70B | 2.86B | 2.70B |
| Other Revenue | 94.23M | 94.97M | 74.06M | 60.09M | 61.54M | 81.69M |
| Revenue | 2.82B | 2.98B | 3.00B | 2.76B | 2.92B | 2.78B |
| Cost of Revenue | 2.36B | 2.46B | 2.35B | 2.13B | 2.22B | 2.19B |
| Gross Profit | 412.45M | 460.24M | 601.79M | 581.67M | 657.51M | 544.43M |
| Selling, General & Admin | 346.39M | 349.84M | 342.23M | 304.77M | 296.15M | 276.59M |
| Other Operating Expenses | 7.29M | 4.17M | -550.00K | 1.95M | 2.42M | 1.74M |
| Operating Expenses | 353.69M | 354.00M | 341.68M | 306.73M | 298.57M | 278.33M |
| Operating Income | 58.76M | 106.24M | 260.11M | 274.94M | 358.93M | 266.11M |
| Interest Expense | -45.66M | -35.44M | -30.75M | -54.08M | -47.34M | -77.72M |
| Earnings From Equity Investments | 18.41M | 46.44M | 52.26M | 43.16M | 29.03M | 8.85M |
| EBT Excluding Unusual Items | 31.52M | 117.23M | 281.62M | 264.02M | 340.62M | 197.24M |
| Gain (Loss) on Sale of Investments | 9.50M | 22.68M | ||||
| Asset Writedown | -31.03M | -39.57M | -11.56M | -1.54M | -14.08M | -3.63M |
| Other Unusual Items | 12.17M | -14.26M | 47.02M | -6.54M | -6.79M | -3.75M |
| Pretax Income | 22.16M | 86.09M | 317.09M | 255.95M | 319.75M | 189.86M |
| Income Tax Expense | 4.78M | 22.22M | 75.08M | 50.06M | 94.26M | -417.96M |
| Net Income | 18.11M | 63.87M | 242.01M | 205.89M | 225.49M | 607.82M |
| Preferred Dividends & Other Adjustments | 11.36M | 12.62M | 19.13M | 26.70M | 30.38M | 57.68M |
| Net Income to Common | 6.75M | 51.24M | 222.88M | 179.19M | 195.11M | 550.14M |
| Shares Outstanding (Basic) | 6.45M | 6.45M | 6.48M | 6.23M | 6.44M | 6.29M |
| Shares Outstanding (Diluted) | 6.82M | 6.89M | 7.01M | 6.67M | 6.73M | 6.39M |
| EPS (Basic) | 1.05 | 7.95 | 34.40 | 28.76 | 30.31 | 87.50 |
| EPS (Diluted) | 0.99 | 7.43 | 31.79 | 26.88 | 29.00 | 85.87 |
| Free Cash Flow | 197.78M | 166.18M | 5.78M | 416.45M | 76.87M | 204.27M |
| Free Cash Flow Per Share | 29.00 | 24.11 | 0.82 | 62.47 | 11.43 | 31.94 |
| Gross Margin | 14.61% | 15.45% | 20.03% | 21.11% | 22.50% | 19.56% |
| Operating Margin | 2.08% | 3.57% | 8.66% | 9.98% | 12.28% | 9.56% |
| Profit Margin | 0.24% | 1.72% | 7.42% | 6.50% | 6.68% | 19.77% |
| Free Cash Flow Margin | 7.01% | 5.58% | 0.19% | 15.11% | 2.63% | 7.34% |
| EBITDA | 74.65M | 120.10M | 267.84M | 283.74M | 364.39M | 271.39M |
| EBITDA Margin | 2.64% | 4.03% | 8.91% | 10.29% | 12.47% | 9.75% |
| D&A For EBITDA | 15.89M | 13.86M | 7.73M | 8.80M | 5.46M | 5.28M |
| EBIT | 58.76M | 106.24M | 260.11M | 274.94M | 358.93M | 266.11M |
| EBIT Margin | 2.08% | 3.57% | 8.66% | 9.98% | 12.28% | 9.56% |
| Effective Tax Rate | 21.55% | 25.81% | 23.68% | 19.56% | 29.48% | |
| Revenue as Reported | 2.82B | 2.98B | 3.00B | 2.76B | 2.92B | 2.78B |
| Advertising Expenses | 22.80M | 17.20M | 15.40M | 10.60M | 9.80M |
Balance sheet
Fiscal year November - October; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 249.09M | 272.77M | 209.98M | 434.12M | 326.20M | 245.97M |
| Cash & Short-Term Investments | 249.09M | 272.77M | 209.98M | 434.12M | 326.20M | 245.97M |
| Accounts Receivable | 49.60M | 26.45M | 29.40M | 27.98M | 37.84M | 39.93M |
| Receivables | 49.60M | 26.45M | 29.40M | 27.98M | 37.84M | 39.93M |
| Inventory | 1.79B | 1.64B | 1.64B | 1.35B | 1.52B | 1.25B |
| Finance Div. Loans and Leases | 120.50M | 109.80M | 147.20M | 127.60M | 108.60M | 149.20M |
| Finance Div. Other Current Assets | 32.68M | 33.27M | 48.91M | 34.97M | 42.61M | 49.34M |
| Prepaid Expenses | 94.51M | 66.10M | 53.76M | 44.14M | 45.98M | 38.34M |
| Restricted Cash | 9.21M | 12.61M | 7.88M | 8.43M | 13.38M | 16.09M |
| Total Current Assets | 2.35B | 2.16B | 2.14B | 2.03B | 2.09B | 1.79B |
| Property, Plant & Equipment | 90.25M | 74.21M | 72.20M | 59.69M | 43.72M | 36.58M |
| Long-Term Investments | 155.09M | 163.47M | 142.91M | 97.89M | 74.94M | 60.90M |
| Long-Term Deferred Tax Assets | 224.44M | 229.62M | 241.06M | 302.83M | 344.79M | 425.68M |
| Total Assets | 2.86B | 2.63B | 2.61B | 2.49B | 2.56B | 2.32B |
| Accounts Payable | 426.50M | 411.61M | 433.27M | 389.01M | 421.09M | 407.43M |
| Accrued Expenses | 33.02M | 11.87M | 14.51M | 26.93M | 32.41M | 28.15M |
| Current Portion of Leases | 2.89M | 10.96M | ||||
| Finance Div. Debt Current | 101.70M | 94.30M | 131.40M | 110.80M | 94.30M | 134.90M |
| Current Income Taxes Payable | 222.00K | 5.48M | 1.86M | 3.17M | 3.85M | |
| Total Current Liabilities | 564.10M | 528.96M | 584.66M | 528.60M | 550.97M | 574.33M |
| Long-Term Debt | 934.90M | 930.21M | 986.89M | 1.14B | 1.29B | 1.37B |
| Finance Div. Other Long-Term Liabilities | 40.00M | 36.57M | 51.73M | 37.38M | 41.28M | 47.32M |
| Long-Term Leases | 37.12M | 16.13M | 26.47M | 18.86M | 18.95M | |
| Other Long-Term Liabilities | 463.98M | 291.10M | 181.94M | 175.67M | 276.51M | 131.06M |
| Total Liabilities | 2.04B | 1.80B | 1.81B | 1.91B | 2.18B | 2.15B |
| Common Stock | 75.00K | 73.00K | 72.00K | 70.00K | 69.00K | 68.00K |
| Additional Paid-In Capital | 752.82M | 757.39M | 749.75M | 735.95M | 727.66M | 722.12M |
| Retained Earnings | 138.09M | 127.33M | 74.14M | -157.20M | -352.41M | -567.23M |
| Treasury Stock | -207.62M | -189.15M | -158.91M | -132.38M | -127.58M | -115.36M |
| Total Common Equity | 683.37M | 695.64M | 665.05M | 446.44M | 247.74M | 39.60M |
| Minority Interest | 2.29M | 53.00K | 15.00K | 487.00K | ||
| Shareholders' Equity | 820.96M | 830.93M | 800.35M | 581.79M | 383.05M | 175.38M |
| Total Liabilities & Equity | 2.86B | 2.63B | 2.61B | 2.49B | 2.56B | 2.32B |
| Total Debt | 1.08B | 1.05B | 1.12B | 1.28B | 1.40B | 1.53B |
| Net Cash (Debt) | -827.52M | -778.83M | -908.32M | -846.18M | -1.08B | -1.28B |
| Net Cash Per Share | -121.34 | -113.00 | -129.63 | -126.94 | -160.27 | -200.37 |
| Filing Date Shares Outstanding | 5.96M | 5.95M | 6.06M | 6.10M | 5.96M | 6.25M |
| Total Common Shares Outstanding | 5.96M | 5.94M | 6.05M | 6.10M | 6.08M | 6.25M |
| Working Capital | 1.79B | 1.63B | 1.56B | 1.50B | 1.54B | 1.22B |
| Book Value Per Share | 114.68 | 117.10 | 109.84 | 73.25 | 40.73 | 6.33 |
| Tangible Book Value | 651.66M | 695.64M | 665.05M | 446.44M | 247.74M | 39.60M |
| Tangible Book Value Per Share | 109.36 | 117.10 | 109.84 | 73.25 | 40.73 | 6.33 |
| Land | 292.00K | 1.29M | 1.56M | 1.64M | 1.64M | |
| Buildings | 22.58M | 22.04M | 23.89M | 31.72M | 24.98M | |
| Machinery | 14.56M | 13.87M | 12.92M | 15.10M | 40.68M | |
| Order Backlog | 726.55M | 936.83M |
Cash flow statement
Fiscal year November - October; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 18.11M | 63.87M | 242.01M | 205.89M | 225.49M | 607.82M |
| Depreciation & Amortization | 15.89M | 13.86M | 7.73M | 8.80M | 5.46M | 5.28M |
| Other Amortization | 8.85M | 242.00K | ||||
| Loss (Gain) From Sale of Assets | -3.32M | -535.00K | -1.14M | -1.11M | -34.00K | 92.00K |
| Asset Writedown & Restructuring Costs | 31.03M | 39.57M | 11.56M | 1.54M | 14.08M | 3.63M |
| Loss (Gain) From Sale of Investments | 1.00K | -22.68M | ||||
| Loss (Gain) on Equity Investments | -17.46M | -42.03M | -48.34M | -24.51M | -25.04M | 860.00K |
| Stock-Based Compensation | 11.45M | 16.67M | 25.27M | 14.23M | 10.28M | 7.67M |
| Other Operating Activities | -14.28M | 12.88M | -48.06M | 8.18M | 7.17M | 3.75M |
| Change in Accounts Receivable | -32.19M | 5.51M | -11.90M | 11.30M | -2.63M | -3.02M |
| Change in Inventory | 162.17M | 91.64M | -183.52M | 278.67M | -279.00M | -35.51M |
| Change in Accounts Payable | -23.43M | -36.40M | -349.00K | -59.55M | 7.71M | 71.37M |
| Change in Income Taxes | -5.26M | -5.26M | 3.62M | -1.31M | -684.00K | 19.00K |
| Change in Other Net Operating Assets | 70.88M | 39.73M | -34.99M | -48.85M | 45.53M | -26.73M |
| Operating Cash Flow | 218.84M | 188.28M | 23.64M | 435.27M | 89.47M | 210.21M |
| Capital Expenditures | -21.05M | -22.10M | -17.86M | -18.82M | -12.59M | -5.94M |
| Sale of Property, Plant & Equipment | 4.47M | 1.81M | 1.42M | 1.96M | 63.00K | 32.00K |
| Investment in Securities | -58.64M | -45.72M | -30.03M | -61.38M | 10.38M | 14.91M |
| Investing Cash Flow | -43.69M | -66.01M | -46.47M | -78.23M | -2.15M | 9.00M |
| Short-Term Debt Issued | 20.64M | 16.43M | 47.74M | |||
| Long-Term Debt Issued | 1.30B | 426.89M | 1.03B | 663.87M | 295.82M | |
| Total Debt Issued | 1.11B | 1.30B | 447.53M | 1.05B | 663.87M | 343.56M |
| Short-Term Debt Repaid | -37.05M | -40.62M | ||||
| Long-Term Debt Repaid | -1.27B | -594.28M | -1.28B | -605.86M | -557.47M | |
| Total Debt Repaid | -1.14B | -1.31B | -594.28M | -1.28B | -646.48M | -557.47M |
| Net Debt Issued (Repaid) | -26.69M | -3.18M | -146.75M | -232.37M | 17.39M | -213.91M |
| Repurchase of Common Stock | -18.41M | -30.24M | -26.53M | -4.80M | -12.22M | |
| Preferred Dividends Paid | -10.68M | -10.68M | -10.68M | -10.68M | -10.68M | |
| Dividends Paid | -10.68M | -10.68M | -10.68M | -10.68M | -10.68M | |
| Other Financing Activities | -23.21M | -26.28M | -3.97M | -13.87M | -11.01M | -3.37M |
| Financing Cash Flow | -78.98M | -70.39M | -187.93M | -261.71M | -16.52M | -217.27M |
| Net Cash Flow | 96.16M | 51.89M | -210.76M | 95.33M | 70.79M | 1.94M |
| Free Cash Flow | 197.78M | 166.18M | 5.78M | 416.45M | 76.87M | 204.27M |
| Free Cash Flow Margin | 7.01% | 5.58% | 0.19% | 15.11% | 2.63% | 7.34% |
| Free Cash Flow Per Share | 29.00 | 24.11 | 0.82 | 62.47 | 11.43 | 31.94 |
| Levered Free Cash Flow | -93.52M | 32.28M | -125.09M | 295.16M | -45.91M | 185.65M |
| Unlevered Free Cash Flow | -73.84M | 54.43M | -105.87M | 328.96M | -16.32M | 233.98M |
| Cash Interest Paid | 45.41M | 45.41M | 47.80M | 62.58M | 44.87M | 87.23M |
| Cash Income Tax Paid | 16.03M | 16.03M | 9.69M | 9.41M | 14.06M | 7.67M |
| Change in Working Capital | 168.56M | 106.67M | -165.37M | 222.22M | -148.20M | -419.55M |
Ratios
Fiscal year November - October; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 625.31M | 760.70M | 1.07B | 437.37M | 275.31M | 479.73M |
| Enterprise Value | 1.45B | 1.80B | 2.25B | 1.50B | 1.61B | 2.01B |
| Last Close Price | 99.41 | 120.23 | 176.04 | 69.48 | 40.33 | 84.26 |
| PE Ratio | 106.12 | 14.85 | 4.78 | 2.44 | 1.41 | 0.87 |
| Forward PE | 40.20 | 15.53 | 6.89 | 6.89 | 6.89 | 6.89 |
| PS Ratio | 0.22 | 0.26 | 0.35 | 0.16 | 0.09 | 0.17 |
| PB Ratio | 0.87 | 0.92 | 1.33 | 0.75 | 0.72 | 2.73 |
| P/TBV Ratio | 0.96 | 1.09 | 1.60 | 0.98 | 1.11 | 12.12 |
| P/FCF Ratio | 3.15 | 4.58 | 184.24 | 1.05 | 3.58 | 2.35 |
| P/OCF Ratio | 2.85 | 4.04 | 45.06 | 1.00 | 3.08 | 2.28 |
| PEG Ratio | 1.10 | 1.10 | 1.10 | 1.10 | 1.10 | |
| EV/Sales Ratio | 0.51 | 0.60 | 0.75 | 0.55 | 0.55 | 0.72 |
| EV/EBITDA Ratio | 19.44 | 14.99 | 8.41 | 5.30 | 4.42 | 7.42 |
| EV/EBIT Ratio | 24.70 | 16.95 | 8.66 | 5.47 | 4.49 | 7.57 |
| EV/FCF Ratio | 7.34 | 10.84 | 389.87 | 3.61 | 20.97 | 9.86 |
| Debt / Equity Ratio | 1.31 | 1.27 | 1.40 | 2.20 | 3.67 | 8.71 |
| Debt / EBITDA Ratio | 12.37 | 7.99 | 4.18 | 4.34 | 3.75 | 5.42 |
| Debt / FCF Ratio | 5.44 | 6.33 | 193.44 | 3.07 | 18.27 | 7.48 |
| Net Debt / Equity Ratio | 1.01 | 0.94 | 1.14 | 1.45 | 2.81 | 7.31 |
| Net Debt / EBITDA Ratio | 11.09 | 6.49 | 3.39 | 2.98 | 2.96 | 4.72 |
| Net Debt / FCF Ratio | 4.18 | 4.69 | 157.12 | 2.03 | 14.03 | 6.27 |
| Asset Turnover | 1.03 | 1.14 | 1.18 | 1.09 | 1.20 | 1.34 |
| Inventory Turnover | 1.35 | 1.50 | 1.57 | 1.49 | 1.60 | 1.79 |
| Quick Ratio | 0.54 | 0.58 | 0.42 | 0.88 | 0.67 | 0.51 |
| Current Ratio | 4.17 | 4.08 | 3.66 | 3.83 | 3.80 | 3.12 |
| Return on Equity (ROE) | 2.10% | 7.83% | 35.02% | 42.68% | 80.76% | |
| Return on Assets (ROA) | 1.34% | 2.54% | 6.38% | 6.80% | 9.19% | 8.02% |
| Return on Invested Capital (ROIC) | 2.84% | 4.75% | 12.66% | 15.31% | 17.35% | 18.17% |
| Return on Capital Employed (ROCE) | 2.60% | 5.00% | 12.90% | 14.00% | 17.80% | 15.20% |
| Earnings Yield | 0.94% | 8.40% | 22.72% | 47.07% | 81.90% | 126.70% |
| FCF Yield | 31.70% | 21.85% | 0.54% | 95.22% | 27.92% | 42.58% |
| Payout Ratio | 16.71% | 4.41% | 5.18% | 4.73% | ||
| Buyback Yield / Dilution | 1.49% | 1.64% | -5.12% | 0.92% | -5.21% | 2.87% |