Hovnanian Enterprises, Inc.

HOV

Consumer CyclicalSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Hovnanian Enterprises, Inc., through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas. The company markets and builds homes for first-time buyers, move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters. It also provides mortgage loans and title services. Hovnanian Enterprises, Inc. was founded in 1959 and is based in Matawan, New Jersey.

Valuation

Market Cap$662M

Current Price$111.46

P/E Ratio17.25

P/B Ratio0.94

EV / EBITDA12.98

EV / Sales0.51

Profitability

Operating Margin-

Net Profit Margin2.1%

EBITDA Margin4.5%

Returns

ROE7.7%

ROCE-

ROIC %6.1%

ROA2.4%

Solvency

Current Ratio4.57

Debt / Equity1.12

Debt / Assets0.35

CFO / Net Profit2.95

Price History▲ 15.45% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$3.0B▼ 0.9%

EBITDA$135M

Net Profit$64M▼ 73.6%

Cash from Ops (CFO)$188M

Free Cash Flow (FCF)$166M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$3.0B	$135M	$64M	$166M	7.7%	-0.9%	-73.6%
2024	$3.0B	$356M	$242M	$6M	30.2%	9.0%	17.5%
2023	$2.8B	$319M	$206M	$416M	35.4%	-5.7%	-8.7%
2022	$2.9B	$373M	$225M	$77M	58.9%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	2,922.23	2,756.02	3,004.92	2,978.58
Cost Of Revenue	2,278.80	2,175.88	2,414.69	2,557.91
Gross Profit	643.43	580.14	590.23	420.67
Operating Expense	296.15	304.77	342.23	349.84
Operating Income	347.28	275.36	248	70.83
EBITDA	372.55	318.83	355.57	135.39
EBIT	367.10	310.03	347.84	121.53
Pretax Income	319.75	255.95	317.09	86.09
Tax Provision	94.26	50.06	75.08	22.22
Net Income	225.49	205.89	242.01	63.87
Net Income Common Stockholders	195.11	179.19	222.88	51.25
Total Expenses	2,574.95	2,480.65	2,756.91	2,907.75
Interest Expense	47.34	54.08	30.75	35.44
Selling General And Administration	296.15	304.77	342.23	349.84
Normalized EBITDA	379.35	344.47	354.20	168.50
Normalized Income	230.28	226.50	240.96	88.43
Basic EPS	30.31	28.76	34.40	7.95
Diluted EPS	29	26.88	31.79	7.43
Tax Effect Of Unusual Items	-2	-5.03	0.32	-8.54
Tax Rate For Calcs	0.29	0.20	0.24	0.26
Total Unusual Items	-6.79	-25.64	1.37	-33.11
Total Unusual Items Excluding Goodwill	-6.79	-25.64	1.37	-33.11
Net Income From Continuing Operation Net Minority Interest	225.49	205.89	242.01	63.87
Reconciled Depreciation	5.46	8.80	7.73	13.86
Reconciled Cost Of Revenue	2,278.80	2,175.88	2,414.69	2,557.91
Net Interest Income	-47.34	-54.08	-30.75	-35.44
Net Income From Continuing And Discontinued Operation	225.49	205.89	242.01	63.87
Diluted Average Shares	6.73	6.67	7.01	6.89
Basic Average Shares	6.44	6.23	6.48	6.45
Diluted NI Availto Com Stockholders	195.10	179.16	222.73	51.24
Average Dilution Earnings	-0.01	-0.03	-0.15	-0.01
Otherunder Preferred Stock Dividend	19.70	16.03	8.45	1.94
Preferred Stock Dividends	10.68	10.68	10.68	10.68
Net Income Including Noncontrolling Interests	225.49	205.89	242.01	63.87
Net Income Continuous Operations	225.49	205.89	242.01	63.87
Other Income Expense	19.82	34.67	99.84	50.70
Other Non Operating Income Expenses	-2.42	17.15	46.20	37.37
Special Income Charges	-6.79	-25.64	1.37	-33.11
Other Special Charges	6.79	25.64	-1.37	33.11
Earnings From Equity Interest	29.03	43.16	52.26	46.44
Net Non Operating Interest Income Expense	-47.34	-54.08	-30.75	-35.44
Interest Expense Non Operating	47.34	54.08	30.75	35.44
Other Operating Expenses	0	0	0	0
General And Administrative Expense	296.15	304.77	342.23	349.84
Other Gand A	296.15	304.77	342.23	349.84
Operating Revenue	2,922.23	2,756.02	3,004.92	2,978.58

Peer Comparison

Consumer Cyclical sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Hovnanian Enterprises, Inc.this co.	HOV	$662M	17.25↓ discount	0.94	7.7%	12.98
Arko Corp.	ARKO	$706M	41.93	2.61	6.2%	13.13
American Woodmark Corporation	AMWD	$663M	6.65	0.72	10.9%	5.83
EVgo, Inc.	EVGO	$659M	-	-2.43	-10.8%	-32.08
Kura Sushi USA, Inc.	KRUS	$656M

Learn while you research

Hand-picked academy chapters to deepen your understanding of Hovnanian Enterprises, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Stock Market Risks

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$3.0B

$135M

$64M

$166M

7.7%

-0.9%

-73.6%

2024

$3.0B

$356M

$242M

$6M

30.2%

9.0%

17.5%

2023

$2.8B

$319M

$206M

$416M

35.4%

-5.7%

-8.7%

2022

$2.9B

$373M

$225M

$77M

58.9%

Metric

2022

2023

2024

2025

Total Revenue

2,922.23

2,756.02

3,004.92

2,978.58

Cost Of Revenue

2,278.80

2,175.88

2,414.69

2,557.91

Gross Profit

643.43

580.14

590.23

420.67

Operating Expense

296.15

304.77

342.23

349.84

Operating Income

347.28

275.36

248

70.83

EBITDA

372.55

318.83

355.57

135.39

EBIT

367.10

310.03

347.84

121.53

Pretax Income

319.75

255.95

317.09

86.09

Tax Provision

94.26

50.06

75.08

22.22

Net Income

225.49

205.89

242.01

63.87

Net Income Common Stockholders

195.11

179.19

222.88

51.25

Total Expenses

2,574.95

2,480.65

2,756.91

2,907.75

Interest Expense

47.34

54.08

30.75

35.44

Selling General And Administration

296.15

304.77

342.23

349.84

Normalized EBITDA

379.35

344.47

354.20

168.50

Normalized Income

230.28

226.50

240.96

88.43

Basic EPS

30.31

28.76

34.40

7.95

Diluted EPS

26.88

31.79

7.43

Tax Effect Of Unusual Items

-2

-5.03

0.32

-8.54

Tax Rate For Calcs

0.29

0.20

0.24

0.26

Total Unusual Items

-6.79

-25.64

1.37

-33.11

Total Unusual Items Excluding Goodwill

-6.79

-25.64

1.37

-33.11

Net Income From Continuing Operation Net Minority Interest

225.49

205.89

242.01

63.87

Reconciled Depreciation

5.46

8.80

7.73

13.86

Reconciled Cost Of Revenue

2,278.80

2,175.88

2,414.69

2,557.91

Net Interest Income

-47.34

-54.08

-30.75

-35.44

Net Income From Continuing And Discontinued Operation

225.49

205.89

242.01

63.87

Diluted Average Shares

6.73

6.67

7.01

6.89

Basic Average Shares

6.44

6.23

6.48

6.45

Diluted NI Availto Com Stockholders

195.10

179.16

222.73

51.24

Average Dilution Earnings

-0.01

-0.03

-0.15

-0.01

Otherunder Preferred Stock Dividend

19.70

16.03

8.45

1.94

Preferred Stock Dividends

10.68

Net Income Including Noncontrolling Interests

225.49

205.89

242.01

63.87

Net Income Continuous Operations

225.49

205.89

242.01

63.87

Other Income Expense

19.82

34.67

99.84

50.70

Other Non Operating Income Expenses

-2.42

17.15

46.20

37.37

Special Income Charges

-6.79

-25.64

1.37

-33.11

Other Special Charges

6.79

25.64

-1.37

33.11

Earnings From Equity Interest

29.03

43.16

52.26

46.44

Net Non Operating Interest Income Expense

-47.34

-54.08

-30.75

-35.44

Interest Expense Non Operating

47.34

54.08

30.75

35.44

Other Operating Expenses

General And Administrative Expense

296.15

304.77

342.23

349.84

Other Gand A

296.15

304.77

342.23

349.84

Operating Revenue

2,922.23

2,756.02

3,004.92

2,978.58

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Hovnanian Enterprises, Inc.this co.

HOV

$662M

17.25↓ discount

0.94

7.7%

12.98

Arko Corp.

ARKO

$706M

41.93

2.61

6.2%

13.13

American Woodmark Corporation

AMWD

$663M

6.65

0.72

10.9%

5.83

EVgo, Inc.

EVGO

$659M

-2.43

-10.8%

-32.08

Kura Sushi USA, Inc.

KRUS

$656M

Hovnanian Enterprises, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Hovnanian Enterprises, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on