HUDSON PACIFIC PROPERTIES INC (HPP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	-$0.73	-$1.62	-121.9%	—	$188.3M	—
Q1 26	-$0.94	-$0.82	+12.8%	—	$181.9M	—
Q4 25	-$0.47	-$4.31	-817.0%	—	$256M	—
Q3 25	-$1.54	-$0.84	+45.5%	—	$186.6M	—
Q2 25	-$1.75	-$2.87	-64.0%	—	$190M	—
Q1 25	-$2.89	-$3.71	-28.4%	—	$198.5M	—
Q4 24	-$3.04	-$8.26	-171.7%	—	$209.7M	—
Q3 24	-$2.73	-$2.97	-8.8%	—	$200.4M	—
Q2 24	-$2.66	-$2.22	+16.5%	—	$218M	—
Q1 24	-$3.36	-$2.5	+25.6%	—	$214M	—
Q4 23	-$2.62	-$4.9	-87.0%	—	$223.4M	—
Q3 23	-$0.31	-$0.27	+12.9%	—	$231.4M	—
Q2 23	-$0.32	-$0.26	+18.8%	—	$245.2M	—
Q1 23	-$0.15	-$0.14	+6.7%	—	$252.3M	—
Q4 22	-$0.01	-$0.09	-800.0%	—	$269.9M	—
Q3 22	-$0.01	-$0.12	-1100.0%	—	$260.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$12.8	—	—	$831.1M	—
FY24	—	-$18.1	—	—	$842.1M	—
FY23	—	-$1.36	—	—	$952.3M	—
FY22	—	-$0.39	—	—	$1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$639.6M	$728.1M	$728.4M	$818.2M	$805M	$896.8M	$1B	$952.3M	$842.1M	$831.1M
YoY change	+22.8%	+13.8%	+0.04%	+12.3%	-1.62%	+11.4%	+14.4%	-7.2%	-11.6%	-1.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	639.6M	728.1M	728.4M	818.2M	805M	896.8M	1B	952.3M	842.1M	831.1M
Cost of revenue	228.7M	253.5M	267.7M	301.5M	299.8M	337M	418M	454.6M	454.1M	427.7M
Gross profit	410.9M	474.6M	460.7M	516.7M	505.2M	559.9M	608.2M	497.7M	388M	403.4M
Gross margin	64.2%	65.2%	63.2%	63.1%	62.8%	62.4%	59.3%	52.3%	46.1%	48.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	52.4M	54.5M	61M	71.9M	77.9M	71.3M	79.5M	75M	79.5M	73M
Operating expenses	52.4M	54.5M	61M	71.9M	77.9M	71.3M	79.5M	75M	79.5M	73M
Operating income	89.4M	136.6M	148.7M	162.6M	127.6M	144.9M	155.5M	24.9M	-45.9M	-44.6M
Operating margin	14%	18.8%	20.4%	19.9%	15.9%	16.2%	15.2%	2.62%	-5.45%	-5.36%
Non-operating income, net	30.1M	47.9M	44.6M	-5.7M	-1.5M	2.3M	-24.5M	23.4M	-159M	-382M
Pretax income	43.8M	94.6M	111.8M	55.8M	16.4M	29M	-16.5M	-163.9M	-379.8M	-592.6M
Income tax	—	—	—	—	—	0	0	6.8M	1.6M	-273K
Net income	43.8M	94.6M	111.8M	55.8M	16.4M	29M	-16.5M	-170.7M	-381.4M	-592.3M
Net margin	6.84%	13%	15.3%	6.83%	2.04%	3.23%	-1.61%	-17.9%	-45.3%	-71.3%
EBITDA	355.8M	417.2M	396.3M	444M	428.6M	495.9M	553.1M	431.3M	310.6M	340.2M
EPS	0.26	0.44	0.63	0.28	0	0.04	-0.39	-1.36	-18.1	-12.8
Diluted EPS	0.25	0.44	0.63	0.28	0	0.04	-0.39	-1.36	-18.1	-12.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	231.4M	223.4M	214M	218M	200.4M	209.7M	198.5M	190M	186.6M	256M	181.9M	188.3M
Cost of revenue	113.2M	116.5M	110.1M	113.3M	114.8M	115.9M	113.3M	108.1M	104M	102.5M	101.5M	103.7M
Gross profit	118.3M	106.9M	104M	104.7M	85.6M	93.7M	85.2M	81.9M	82.7M	153.6M	80.3M	84.6M
Gross margin	51.1%	47.8%	48.6%	48%	42.7%	44.7%	42.9%	43.1%	44.3%	60%	44.2%	44.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	17.5M	19.8M	19.7M	20.7M	19.5M	19.5M	18.5M	27.8M	13.7M	13M	12.6M	12M
Operating expenses	17.5M	19.8M	19.7M	20.7M	19.5M	19.5M	18.5M	27.8M	13.7M	13M	12.6M	12M
Operating income	2.2M	-16.1M	-7.6M	-2.8M	-20.7M	-14.9M	-26.4M	-40.6M	-25.1M	47.5M	-13M	-9.5M
Operating margin	0.93%	-7.2%	-3.55%	-1.27%	-10.3%	-7.08%	-13.3%	-21.4%	-13.5%	18.6%	-7.14%	-5.05%
Non-operating income, net	14.4M	-14.9M	-2.5M	-708K	-39.7M	-116M	-10.6M	-714K	-79.4M	-291.3M	-1.2M	-56.9M
Pretax income	-36.2M	-82.6M	-53.4M	-47M	-104.8M	-174.5M	-80.1M	-87.3M	-144.1M	-281.1M	-50.6M	-104.3M
Income tax	-425K	6.1M	0	510K	2.2M	-1.1M	194K	454K	24K	-945K	348K	394K
Net income	-35.8M	-88.7M	-53.4M	-47.6M	-107M	-173.5M	-80.3M	-87.8M	-144.1M	-280.2M	-50.9M	-104.7M
Net margin	-15.4%	-39.7%	-24.9%	-21.8%	-53.4%	-82.7%	-40.5%	-46.2%	-77.2%	-109.4%	-28%	-55.6%
EBITDA	102.1M	88.2M	83.7M	84.8M	64.7M	75.4M	62.8M	57.5M	72.1M	143.3M	68.7M	68.3M
EPS	-0.27	-0.7	-0.37	-0.33	-0.69	-8.26	-3.71	-2.87	-2.1	-4.31	-0.82	-1.62
Diluted EPS	-0.27	-0.7	-0.37	-0.33	-0.69	-8.26	-3.71	-2.87	-2.1	-4.31	-0.82	-1.62

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	31.6B	40.7B	25.7B	26.2B	9.8B	9.2B	—	—	624.1M
Enterprise value	—	—	34.2B	43.8B	29.4B	30.2B	14.6B	13.5B	—	—	4.9B
Shares outstanding	106.2M	153.5M	155.4M	154.4M	153.1M	151.6M	143.7M	141M	20.2M	44.7M	44.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	282.9	728.7	1.6K	904	—	—	—	—	-0.9
P/S	—	—	43.4	49.7	32	29.2	9.54	9.65	—	—	0.78
P/B	—	—	8.02	10.6	6.29	6.06	2.53	2.59	—	—	0.26
EV/EBITDA	—	—	86.4	98.6	68.5	60.9	26.4	31.3	—	—	15.6
EV/Sales	—	—	47	53.5	36.5	33.7	14.2	14.2	—	—	6.07
Earnings yield	—	—	0.35%	0.14%	0.06%	0.11%	—	—	—	—	-111.4%
FCF yield	—	—	-0.47%	0.66%	-1.13%	0.72%	2.58%	2.47%	—	—	52.2%
PEG	—	—	—	—	—	—	—	—	—	—	0.02

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	64.2%	65.2%	63.2%	63.1%	62.8%	62.4%	59.3%	52.3%	46.1%	48.5%	44.9%
Operating margin	14%	18.8%	20.4%	19.9%	15.9%	16.2%	15.2%	2.62%	-5.45%	-5.36%	-5.95%
Net margin	6.84%	13%	15.3%	6.83%	2.04%	3.23%	-1.61%	-17.9%	-45.3%	-71.3%	-67.9%
ROE	1.18%	2.42%	2.83%	1.46%	0.4%	0.67%	-0.43%	-4.81%	-12%	-18.5%	-17.2%
ROA	0.66%	1.43%	1.58%	0.75%	0.2%	0.32%	-0.18%	-2.06%	-4.69%	-8.15%	-0.01%
ROIC	—	—	—	—	—	1.74%	1.79%	0.32%	-0.59%	-0.65%	-0%
Return on tangible assets	0.66%	1.43%	1.58%	0.81%	0.21%	0.36%	-0.21%	-2.4%	-5.32%	-8.93%	-9.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.3	3.73	0.66	1.51	2.41	2.09	1.05	0.95	0.51	1.83	0.27
Quick ratio	2.3	3.73	0.66	1.51	2.41	2.09	1.05	0.95	0.51	1.83	1.23
Debt / equity	0.67	0.62	0.72	0.86	0.94	0.98	1.3	1.24	1.46	1.17	1.23
Debt / assets	0.37	0.37	0.4	0.44	0.46	0.47	0.54	0.53	0.57	0.52	0.52
Net debt / EBITDA	6.72	5.61	6.63	6.99	8.44	8.06	8.67	9.97	14.7	10.7	10.4
Interest coverage	1.61	2.13	2.45	1.56	1.15	1.24	0.89	0.24	-1.14	-2.44	-2.73
Effective tax rate	—	—	—	—	—	0%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	6.02	4.74	4.69	5.3	5.26	5.92	7.14	6.76	41.7	18.6	12.6
EPS (basic)	0.26	0.44	0.63	0.28	0	0.04	-0.39	-1.36	-18.1	-12.8	-12.8
EPS (diluted)	0.25	0.44	0.63	0.28	0	0.04	-0.39	-1.36	-18.1	-12.8	-8.84
Book value per share	34.9	25.5	25.4	24.8	26.7	28.5	27	25.2	157.1	71.7	44.1
FCF per share	-3.8	0.23	-0.95	1.73	-1.91	1.25	1.76	1.61	7.02	2.21	1.74
Cash per share	0.78	0.51	1.29	1.21	1.62	1.49	1.78	0.71	3.14	3.1	1.55
Capex per share	5.93	1.68	2.33	0.13	3.88	0.83	0.81	0.04	1.14	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	98.5%	35.4%	49.8%	2.51%	73.8%	14%	11.4%	0.6%	2.74%	—	—
Capex / operating cash flow	247%	74.5%	140.3%	7.45%	197.5%	34.8%	34.2%	2.28%	224.2%	—	—
Payout ratio	270.7%	168.3%	141%	283.7%	947.1%	534.9%	-1K%	-44.4%	-9.49%	-3.53%	0%
Dividend yield	—	—	0.5%	0.39%	0.6%	0.59%	1.72%	0.82%	—	—	12.2%

Yield

12.2%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.05

ex-dividend Jun 17, 2024

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 17, 2024	$0.05
Mar 15, 2024	$0.05
Jun 16, 2023	$0.125
Mar 17, 2023	$0.25
Dec 16, 2022

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$231.4M	$223.4M	$214M	$218M	$200.4M	$209.7M	$198.5M	$190M	$186.6M	$256M	$181.9M	$188.3M
YoY change	-11.1%	-17.2%	-15.2%	-11.1%	-13.4%	-6.16%	-7.27%	-12.8%	-6.87%	+22.1%	-8.37%	-0.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	83M	78.9M	200.6M	187M	248.8M	225.9M	255.8M	100.4M	63.3M	138.4M
Receivables	86.2M	110.7M	156.4M	208.3M	247.8M	265.6M	296.7M	245.4M	214.3M	210.3M
Inventory	—	—	—	—	0	1.6M	4.9M	—	—	—
Total current assets	809.6M	623.9M	378.1M	434.5M	568.2M	899.2M	684.3M	377.2M	408.7M	383M
Property, plant & equipment	—	397M	510.2M	269M	273.3M	345.5M	531.3M	495.1M	497.9M	405.7M
Goodwill & intangibles	17.5M	17.5M	17.5M	588.4M	589.2M	901.8M	1.3B	1.2B	968.1M	632.3M
Total assets	6.7B	6.6B	7.1B	7.5B	8.4B	9B	9.3B	8.3B	8.1B	7.3B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	—	—	400M	75M	—	125M	385M	192M	579M	—
Total current liabilities	351.3M	167.2M	575.3M	287.7M	235.9M	429.9M	649.8M	395.7M	804M	209.4M
Long-term debt	2.5B	2.4B	2.4B	3.2B	3.9B	4.1B	4.7B	4.2B	4B	3.8B
Total liabilities	3B	2.7B	3.1B	3.6B	4.3B	4.7B	5.4B	4.7B	5B	4.1B
Shareholders' equity	3.7B	3.9B	3.9B	3.8B	4.1B	4.3B	3.9B	3.6B	3.2B	3.2B
Total debt	2.5B	2.4B	2.8B	3.3B	3.9B	4.2B	5.1B	4.4B	4.6B	3.8B
Net debt	2.4B	2.3B	2.8B	3.2B	3.8B	4.1B	4.8B	4.3B	4.6B	3.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	75M	100.4M	114.3M	78.5M	90.7M	63.3M	86.5M	236M	190.4M	138.4M	138M	80.8M
Receivables	310.3M	245.4M	241.7M	235.8M	220.8M	214.3M	211.5M	217.5M	219M	210.3M	214.5M	226.7M
Inventory	6M	—	—	—	—	—	—	—	—	—	—	—
Total current assets	431.2M	377.2M	377.7M	356.1M	394.1M	408.7M	374.4M	501.6M	450.4M	383M	379.7M	367.8M
Property, plant & equipment	507.1M	495.1M	489.8M	484.6M	482.2M	497.9M	482.1M	477M	470M	405.7M	400.9M	359M
Goodwill & intangibles	1.2B	1.2B	1.2B	1.2B	1.2B	968.1M	949.6M	1B	1B	632.3M	633.3M	795.3M
Total assets	9B	8.3B	8.3B	8.4B	8.3B	8.1B	8B	8.1B	7.8B	7.3B	7.2B	7.2B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	520M	192M	—	2.4B	295M	579M	282M	—	—	—	—	—
Total current liabilities	787.4M	395.7M	203.2M	2.6B	590.7M	804M	475.5M	222.6M	243.8M	209.4M	229.1M	299.6M
Long-term debt	4.4B	4.2B	4.5B	2.2B	4.3B	4B	4.3B	4.1B	4B	3.8B	3.8B	3.7B
Total liabilities	5.3B	4.7B	4.8B	4.9B	5B	5B	4.9B	4.4B	4.3B	4.1B	4.1B	4.1B
Shareholders' equity	3.7B	3.6B	3.4B	3.4B	3.3B	3.2B	3.1B	3.7B	3.5B	3.2B	3.1B	3B
Total debt	4.9B	4.4B	4.5B	4.6B	4.6B	4.6B	4.6B	4.1B	4B	3.8B	3.8B	3.7B
Net debt	4.8B	4.3B	4.4B	4.5B	4.5B	4.6B	4.5B	3.9B	3.8B	3.6B	3.6B	3.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	43.8M	94.6M	111.8M	55.8M	16.4M	29M	-16.5M	-170.7M	-381.4M	-592.3M
Depreciation & amortization	251.5M	268M	235.8M	271.7M	292.4M	334.6M	367.9M	394.4M	352.1M	373.7M
Stock-based compensation	14.1M	15.1M	17M	19.5M	22.7M	21.2M	24.3M	23.9M	26M	30.4M
Change in working capital	-32.8M	-10.9M	-79.3M	-27.7M	-10.7M	-16.3M	-6.1M	-24.9M	-16.7M	-84.1M
Operating cash flow	255.1M	346M	258.6M	275.1M	300.8M	360.3M	341.6M	252.3M	10.3M	121M
Capital expenditure	-630.1M	-257.7M	-362.7M	-20.5M	-593.9M	-125.2M	-116.7M	-5.7M	-23.1M	—
Investing cash flow	-638.5M	-259.9M	-509.6M	-143.3M	-607.4M	-417.3M	-242.4M	-78.9M	-72.9M	-32.4M
Dividends paid	-118.5M	-159.2M	-157.6M	-158.4M	-155.6M	-155.2M	-168.8M	-75.8M	-36.2M	-20.9M
Share repurchases	-1.4B	-310.9M	-50.4M	-525K	-80.2M	-46.1M	-237.2M	-1.4M	0	-7.3M
Financing cash flow	334.8M	33.2M	210.8M	18.5M	796.1M	486.7M	97.4M	-866.7M	65.9M	-239.3M
Net change in cash	-48.6M	119.3M	-40.3M	150.3M	489.5M	429.7M	196.7M	-693.3M	3.2M	-150.7M
Free cash flow	-403.4M	35.2M	-148.1M	267.5M	-291.9M	189.6M	252.8M	226.5M	141.6M	98.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-35.8M	-88.7M	-53.4M	-47.6M	-107M	-173.5M	-80.3M	-87.8M	-144.1M	-280.2M	-50.9M	-104.7M
Depreciation & amortization	97.7M	102.4M	91.1M	86.2M	86.1M	88.7M	92.9M	94.4M	93.7M	92.7M	80.4M	81.8M
Stock-based compensation	5.5M	6.8M	6.6M	6.9M	6M	6.6M	5.1M	17.9M	3.6M	3.8M	1.9M	1.3M
Change in working capital	10.8M	-47.1M	7M	5.6M	24.6M	-53.9M	5.4M	-23.5M	3.1M	-69.1M	-5.5M	-30.3M
Operating cash flow	86.9M	-7.3M	57.5M	55.1M	26.3M	-128.6M	28.9M	-2M	33.2M	59.3M	44.3M	-8M
Capital expenditure	-2.8M	-1.3M	-5.1M	-5.3M	-8M	-4.7M	-4.7M	—	—	—	—	—
Investing cash flow	-24.3M	-14.7M	-26.6M	-6.4M	-21.1M	-13.8M	-10.5M	-5.8M	-18.7M	-3.3M	-6.4M	-5.7M
Dividends paid	-5.2M	-5.2M	-13.1M	-12.7M	-5M	-5.4M	-5.5M	-5.2M	-5.1M	-5.1M	-5.6M	-5.1M
Share repurchases	0	0	0	0	0	0	-1.4M	-2.8M	-3.1M	0	0	0
Financing cash flow	-74M	-576.5M	20.6M	-19.6M	25M	39.9M	-11.7M	-502.6M	-29.8M	-218.6M	-9.7M	-9.1M
Net change in cash	-11.4M	-598.5M	51.6M	29.1M	30.1M	-102.6M	6.6M	-510.4M	-15.4M	-162.5M	28.3M	-22.9M
Free cash flow	68.6M	7.9M	60.1M	30.3M	55.8M	-4.6M	25.8M	-7.9M	27.9M	53.1M	40.3M	-9.1M

HUDSON PACIFIC PROPERTIES INC Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history