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$655M

Current Price$127.34as of Jun 23, 2026

P/E Ratio10.26

P/B Ratio0.94

EV / EBITDA9.69

EV / Sales0.44

Profitability

Operating Margin2.4%

Net Profit Margin2.1%

EBITDA Margin4.5%

Returns

ROE9.2%

ROCE3.3%

ROIC %6.1%

ROA2.4%

Solvency

Current Ratio3.92

Debt / Equity1.34

Debt / Assets0.35

CFO / Net Profit2.95

Price History▲ 23.19% 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▼ 61.9%

Net Profit$64M▼ 73.6%

Cash from Ops (CFO)$188M▲ 696.4%

Free Cash Flow (FCF)$166M▲ 2774.6%

Revenue CAGR 3Y0.6%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-34.3%

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	9.2%	-0.9%	-73.6%
2024	$3.0B	$356M	$242M	$6M	36.4%	9.0%	17.5%
2023	$2.8B	$319M	$206M	$416M	46.1%	-5.7%	-8.7%
2022	$2.9B	$373M	$225M	$77M	91.0%	-	-
2021	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	2,922.23	2,756.02	3,004.92	2,978.58
Operating 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
Selling General And Administration	-	296.15	304.77	342.23	349.84
Total Expenses	-	2,574.95	2,480.65	2,756.91	2,907.75
Operating Income	-	347.28	275.36	248	70.83
EBITDA	-	372.55	318.83	355.57	135.39
Normalized EBITDA	-	379.35	344.47	354.20	168.50
EBIT	-	367.10	310.03	347.84	121.53
Interest Expense	-	47.34	54.08	30.75	35.44
Net Interest Income	-	-47.34	-54.08	-30.75	-35.44
Other Non Operating Income Expenses	-	-2.42	17.15	46.20	37.37
Other Income Expense	-	19.82	34.67	99.84	50.70
Interest Expense Non Operating	-	47.34	54.08	30.75	35.44
Net Non Operating Interest Income Expense	-	-47.34	-54.08	-30.75	-35.44
Pretax Income	-	319.75	255.95	317.09	86.09
Tax Provision	-	94.26	50.06	75.08	22.22
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-2	-5.03	0.32	-8.54
Net Income Continuous Operations	-	225.49	205.89	242.01	63.86
Net Income From Continuing And Discontinued Operation	-	225.49	205.89	242.01	63.86
Net Income From Continuing Operation Net Minority Interest	-	225.49	205.89	242.01	63.86
Net Income	-	225.49	205.89	242.01	63.86
Net Income Common Stockholders	-	195.11	179.19	222.88	51.25
Net Income Including Noncontrolling Interests	-	225.49	205.89	242.01	63.86
Normalized Income	-	230.28	226.50	240.96	88.43
Diluted NI Availto Com Stockholders	-	195.10	179.16	222.73	51.24
Basic Average Shares	-	6.44	6.23	6.48	6.45
Diluted Average Shares	-	6.73	6.67	7.01	6.89
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
Total Unusual Items	-	-6.80	-25.64	1.37	-33.11
Total Unusual Items Excluding Goodwill	-	-6.80	-25.64	1.37	-33.11
Preferred Stock Dividends	-	10.68	10.68	10.68	10.68
Special Income Charges	-	-6.80	-25.64	1.37	-33.11
Other Special Charges	-	6.80	25.64	-1.37	33.11
General And Administrative Expense	-	296.15	304.77	342.23	349.84
Other Gand A	-	296.15	304.77	342.23	349.84
Other Operating Expenses	1.74	-	-	-	-
Otherunder Preferred Stock Dividend	-	19.70	16.03	8.45	1.94
Earnings From Equity Interest	-	29.03	43.16	52.26	46.44
Average Dilution Earnings	-	-0.02	-0.03	-0.15	0

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	$655M	10.26↓ discount	0.94	9.2%	9.69
American Woodmark Corporation	AMWD	$701M	7.04	0.76	10.9%	6.03
Oxford Industries, Inc.	OXM	$675M	-	1.31	-5.4%	35.55
Bally's Corporation	BALY	$663M	-	0.67	-57.1%	53.99
Envela Corporation	ELA	$644M

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 Value Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$3.0B

$135M

$64M

$166M

9.2%

-0.9%

-73.6%

2024

$3.0B

$356M

$242M

$6M

36.4%

9.0%

17.5%

2023

$2.8B

$319M

$206M

$416M

46.1%

-5.7%

-8.7%

2022

$2.9B

$373M

$225M

$77M

91.0%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

2,922.23

2,756.02

3,004.92

2,978.58

Operating 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

Selling General And Administration

296.15

304.77

342.23

349.84

Total Expenses

2,574.95

2,480.65

2,756.91

2,907.75

Operating Income

347.28

275.36

248

70.83

EBITDA

372.55

318.83

355.57

135.39

Normalized EBITDA

379.35

344.47

354.20

168.50

EBIT

367.10

310.03

347.84

121.53

Interest Expense

47.34

54.08

30.75

35.44

Net Interest Income

-47.34

-54.08

-30.75

-35.44

Other Non Operating Income Expenses

-2.42

17.15

46.20

37.37

Other Income Expense

19.82

34.67

99.84

50.70

Interest Expense Non Operating

47.34

54.08

30.75

35.44

Net Non Operating Interest Income Expense

-47.34

-54.08

-30.75

-35.44

Pretax Income

319.75

255.95

317.09

86.09

Tax Provision

94.26

50.06

75.08

22.22

Tax Rate For Calcs

Tax Effect Of Unusual Items

-2

-5.03

0.32

-8.54

Net Income Continuous Operations

225.49

205.89

242.01

63.86

Net Income From Continuing And Discontinued Operation

225.49

205.89

242.01

63.86

Net Income From Continuing Operation Net Minority Interest

225.49

205.89

242.01

63.86

Net Income

225.49

205.89

242.01

63.86

Net Income Common Stockholders

195.11

179.19

222.88

51.25

Net Income Including Noncontrolling Interests

225.49

205.89

242.01

63.86

Normalized Income

230.28

226.50

240.96

88.43

Diluted NI Availto Com Stockholders

195.10

179.16

222.73

51.24

Basic Average Shares

6.44

6.23

6.48

6.45

Diluted Average Shares

6.73

6.67

7.01

6.89

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

Total Unusual Items

-6.80

-25.64

1.37

-33.11

Total Unusual Items Excluding Goodwill

-6.80

-25.64

1.37

-33.11

Preferred Stock Dividends

10.68

Special Income Charges

-6.80

-25.64

1.37

-33.11

Other Special Charges

6.80

25.64

-1.37

33.11

General And Administrative Expense

296.15

304.77

342.23

349.84

Other Gand A

296.15

304.77

342.23

349.84

Other Operating Expenses

1.74

Otherunder Preferred Stock Dividend

19.70

16.03

8.45

1.94

Earnings From Equity Interest

29.03

43.16

52.26

46.44

Average Dilution Earnings

-0.02

-0.03

-0.15

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Hovnanian Enterprises, Inc.this co.

HOV

$655M

10.26↓ discount

0.94

9.2%

9.69

American Woodmark Corporation

AMWD

$701M

7.04

0.76

10.9%

6.03

Oxford Industries, Inc.

OXM

$675M

1.31

-5.4%

35.55

Bally's Corporation

BALY

$663M

0.67

-57.1%

53.99

Envela Corporation

ELA

$644M

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