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Hovnanian Enterprises (HOV)

Market Price (6/6/2026): $109.24 | Market Cap: $700.9 MilSector: Consumer Discretionary | Industry: Homebuilding

Hovnanian Enterprises (HOV)

Market Price (6/6/2026): $109.24
Market Cap: $700.9 Mil
Sector: Consumer Discretionary
Industry: Homebuilding

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 39%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%

Megatrend and thematic drivers
Megatrends include Sustainable & Green Buildings. Themes include Energy Efficient Building Materials, Renewable Integration in Buildings, and Green Building Certification.

Weak multi-year price returns
2Y Excs Rtn is -64%, 3Y Excs Rtn is -47%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 89%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7%, Rev Chg QQuarterly Revenue Change % is -2.7%

Key risks
HOV key risks include [1] high leverage and financing constraints due to its significant debt burden.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 39%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%
2 Megatrend and thematic drivers
Megatrends include Sustainable & Green Buildings. Themes include Energy Efficient Building Materials, Renewable Integration in Buildings, and Green Building Certification.
3 Weak multi-year price returns
2Y Excs Rtn is -64%, 3Y Excs Rtn is -47%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 89%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.7%, Rev Chg QQuarterly Revenue Change % is -2.7%
6 Key risks
HOV key risks include [1] high leverage and financing constraints due to its significant debt burden.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 6/1/2026

Hovnanian Enterprises (HOV) stock has lost about 15% since 2/28/2026 because of the following key factors:

1. Weak Fiscal Q1 2026 Performance and Disappointing Outlook.

Hovnanian Enterprises reported its fiscal first-quarter 2026 results on February 25, 2026, revealing a year-over-year decline in key financial metrics. Total revenues decreased to $632.0 million from $673.6 million in Q1 fiscal 2025, and net income fell to $20.9 million from $28.2 million. The homebuilding gross margin also saw a significant reduction, dropping from 15.2% to 10.1% year-over-year. Management further indicated dissatisfaction with the projected profits for the upcoming fiscal second quarter.

2. Fiscal Q2 2026 Earnings Miss.

For the fiscal second quarter ended April 30, 2026, Hovnanian Enterprises reported a net loss of $0.6 million, a notable downturn from a net income of $19.7 million in the same period of the prior year. The company's earnings per share (EPS) of -$0.46 significantly missed analyst forecasts of -$0.29 by 58.62%. Additionally, revenue of $667.65 million fell short of the projected $763.6 million, missing expectations by 12.57%.

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Stock Movement Drivers

Fundamental Drivers

The -13.2% change in HOV stock from 2/28/2026 to 6/5/2026 was primarily driven by a -41.6% change in the company's Net Income Margin (%).
(LTM values as of)22820266052026Change
Stock Price ($)125.62109.00-13.2%
Change Contribution By: 
Total Revenues ($ Mil)2,9792,918-2.0%
Net Income Margin (%)2.1%1.3%-41.6%
P/E Multiple12.719.150.5%
Shares Outstanding (Mil)660.8%
Cumulative Contribution-13.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/5/2026
ReturnCorrelation
HOV-13.2% 
Market (SPY)7.8%40.5%
Sector (XLY)-1.5%43.3%

Fundamental Drivers

The -17.2% change in HOV stock from 11/30/2025 to 6/5/2026 was primarily driven by a -75.3% change in the company's Net Income Margin (%).
(LTM values as of)113020256052026Change
Stock Price ($)131.58109.00-17.2%
Change Contribution By: 
Total Revenues ($ Mil)3,1402,918-7.1%
Net Income Margin (%)5.1%1.3%-75.3%
P/E Multiple5.319.1261.3%
Shares Outstanding (Mil)66-0.3%
Cumulative Contribution-17.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/5/2026
ReturnCorrelation
HOV-17.2% 
Market (SPY)8.5%30.2%
Sector (XLY)-2.5%39.2%

Fundamental Drivers

The 20.7% change in HOV stock from 5/31/2025 to 6/5/2026 was primarily driven by a 611.9% change in the company's P/E Multiple.
(LTM values as of)53120256052026Change
Stock Price ($)90.28109.0020.7%
Change Contribution By: 
Total Revenues ($ Mil)3,0622,918-4.7%
Net Income Margin (%)7.0%1.3%-82.2%
P/E Multiple2.719.1611.9%
Shares Outstanding (Mil)66-0.1%
Cumulative Contribution20.7%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/5/2026
ReturnCorrelation
HOV20.7% 
Market (SPY)26.6%35.4%
Sector (XLY)8.3%45.9%

Fundamental Drivers

The 29.8% change in HOV stock from 5/31/2023 to 6/5/2026 was primarily driven by a 708.9% change in the company's P/E Multiple.
(LTM values as of)53120236052026Change
Stock Price ($)83.96109.0029.8%
Change Contribution By: 
Total Revenues ($ Mil)2,8722,9181.6%
Net Income Margin (%)7.6%1.3%-83.6%
P/E Multiple2.419.1708.9%
Shares Outstanding (Mil)66-3.6%
Cumulative Contribution29.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/5/2026
ReturnCorrelation
HOV29.8% 
Market (SPY)83.4%38.9%
Sector (XLY)55.3%44.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HOV Return287%-67%270%-14%-27%15%240%
Peers Return50%-23%95%4%-3%-2%124%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
HOV Win Rate67%33%75%42%42%67% 
Peers Win Rate72%43%63%58%47%63% 
S&P 500 Win Rate75%42%67%75%67%67% 

Max Drawdowns [4]
HOV Max Drawdown-43%-74%-47%-44%-38%-28% 
Peers Max Drawdown-21%-43%-21%-28%-28%-27% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: DHI, LEN, PHM, TOL, KBH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)

How Low Can It Go

EventHOVS&P 500
2025 US Tariff Shock
  % Loss-31.2%-18.8%
  % Gain to Breakeven45.3%23.1%
  Time to Breakeven74 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.9%-9.5%
  % Gain to Breakeven51.4%10.5%
  Time to Breakeven39 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-72.3%-24.5%
  % Gain to Breakeven260.8%32.4%
  Time to Breakeven316 days427 days
2020 COVID-19 Crash
  % Loss-81.9%-33.7%
  % Gain to Breakeven451.0%50.9%
  Time to Breakeven152 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-58.8%-19.2%
  % Gain to Breakeven142.4%23.8%
  Time to Breakeven696 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-17.7%-12.2%
  % Gain to Breakeven21.5%13.9%
  Time to Breakeven17 days62 days

Compare to DHI, LEN, PHM, TOL, KBH

In The Past

Hovnanian Enterprises's stock fell -31.2% during the 2025 US Tariff Shock. Such a loss loss requires a 45.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventHOVS&P 500
2025 US Tariff Shock
  % Loss-31.2%-18.8%
  % Gain to Breakeven45.3%23.1%
  Time to Breakeven74 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.9%-9.5%
  % Gain to Breakeven51.4%10.5%
  Time to Breakeven39 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-72.3%-24.5%
  % Gain to Breakeven260.8%32.4%
  Time to Breakeven316 days427 days
2020 COVID-19 Crash
  % Loss-81.9%-33.7%
  % Gain to Breakeven451.0%50.9%
  Time to Breakeven152 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-58.8%-19.2%
  % Gain to Breakeven142.4%23.8%
  Time to Breakeven696 days105 days
2014-2016 Oil Price Collapse
  % Loss-69.0%-6.8%
  % Gain to Breakeven223.1%7.3%
  Time to Breakeven1863 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-55.6%-17.9%
  % Gain to Breakeven125.2%21.8%
  Time to Breakeven96 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-52.0%-15.4%
  % Gain to Breakeven108.4%18.2%
  Time to Breakeven5062 days125 days
2008-2009 Global Financial Crisis
  % Loss-91.7%-53.4%
  % Gain to Breakeven1110.3%114.4%
  Time to Breakeven413 days1085 days

Compare to DHI, LEN, PHM, TOL, KBH

In The Past

Hovnanian Enterprises's stock fell -31.2% during the 2025 US Tariff Shock. Such a loss loss requires a 45.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Hovnanian Enterprises (HOV)

Hovnanian Enterprises, Inc. engages in the design, construction, marketing, and sale of 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, first-time and second-time move-up buyers, luxury buyers, active lifestyle buyers, and empty nesters. It also provides mortgage loans and title insurance services. The company was founded in 1959 and is headquartered in Matawan, New Jersey.

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Think of Hovnanian as the Ford or General Motors of new home construction, offering a diverse lineup of residential styles for various buyers, from first-timers to luxury seekers.

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  • Residential Homes: Hovnanian Enterprises designs, constructs, markets, and sells a variety of residential homes including single-family detached homes, attached townhomes, and condominiums for diverse buyer segments.
  • Mortgage Loans: The company provides mortgage loans to assist customers with financing their home purchases.
  • Title Insurance Services: Hovnanian Enterprises offers title insurance services to ensure clear and marketable title for its homebuyers.

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Hovnanian Enterprises (HOV) primarily sells residential homes directly to individual consumers. Based on the company's description, it serves the following categories of customers:

  • First-time Buyers: Individuals purchasing their initial home.
  • Move-Up Buyers: Individuals buying their second or subsequent home, including both first-time and second-time move-up buyers.
  • Specialty Lifestyle Buyers: This category encompasses customers seeking specific living arrangements such as luxury homes, active lifestyle communities (often with amenities), and empty nesters looking for homes suited to their changing needs.

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Ara K. Hovnanian, Chief Executive Officer and Chairman of the Board

Ara K. Hovnanian is the son of the company's founder, Kevork S. Hovnanian. He joined Hovnanian Enterprises in 1979, became president in 1988, and assumed the role of Chief Executive Officer in 1997, a position he has held since. He also serves as the Chairman of the Board. Under his leadership, the company has expanded its portfolio and market reach. Ara K. Hovnanian directly holds approximately 16.71% of the company's shares.

Brad G. O'Connor, Chief Financial Officer

Brad G. O'Connor was appointed Chief Financial Officer of Hovnanian Enterprises, Inc. effective November 1, 2023. Prior to this role, he held positions within the company as Senior Vice President, Chief Accounting Officer, and Treasurer. Before joining Hovnanian Enterprises, he was a Senior Manager in the Audit Practice at PricewaterhouseCoopers LLP from 1992 to 2001 and served as Controller at Global Life Sciences Solutions USA LLC from 2001 to 2004. Mr. O'Connor earned an MBA from Columbia University and an undergraduate degree from The Pennsylvania State University. As CFO, he is responsible for overseeing Enterprise Risk Management.

Alexander A. Hovnanian, President

Alexander A. Hovnanian, the grandson of the founder Kevork S. Hovnanian and son of Ara K. Hovnanian, joined the company in 2008. He was appointed President, effective November 1, 2025.

Michael P. Wyatt, Chief Operating Officer

Michael P. Wyatt was appointed Chief Operating Officer, effective November 1, 2025.

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The key risks to Hovnanian Enterprises (HOV) are primarily concentrated in the cyclical nature of the homebuilding industry, its financial structure, and macroeconomic factors:

  1. Macroeconomic and Industry Sensitivity: Hovnanian Enterprises is highly susceptible to fluctuations in interest rates, which directly impact buyer affordability and demand for new homes. Persistent macroeconomic risks, including inflation, can lead to increased costs for raw materials and labor, further pressuring the company's operations. A significant downturn in the homebuilding industry due to broader economic conditions could severely affect its business.

  2. Profitability and Margin Compression: The company faces an immediate financial risk from significant drops in profitability and margin compression. This is primarily driven by the need for aggressive buyer incentives to maintain sales volume in a challenging market, coupled with higher land-related costs. This "pace over price" strategy has resulted in a notable decline in homebuilding gross margins.

  3. High Leverage and Liquidity Concerns: Hovnanian Enterprises carries a substantial amount of debt and total liabilities, which poses a significant risk to its financial health. While the company has adopted a "land-light" strategy to reduce capital exposure and associated liquidity risk during housing downturns, its overall debt load remains a concern and could potentially restrict its operational flexibility.

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Hovnanian Enterprises (symbol: HOV) operates within the residential housing and related financial services markets in the United States.

The addressable markets for its main products and services in the U.S. are as follows:

  • Residential Housing Market (Overall): The U.S. housing market was valued at a record $55.1 trillion in June 2025. Another estimate placed the U.S. Housing Market at approximately USD 52.14 trillion in 2025, with projections to reach USD 72.88 trillion by 2032. The U.S. residential real estate market size is estimated at USD 3.81 trillion in 2026 and is expected to grow to USD 4.21 trillion by 2031.
  • Single-Family Detached Homes: This segment is anticipated to be a leading part of the U.S. housing market, holding an estimated share of 64.2% in 2025. The market size for single-family housing construction was approximately $804.08 billion in 2025 and is projected to reach $1.09 trillion by 2030. In December 2025, new single-family houses were sold at a seasonally-adjusted annual rate of 745,000.
  • Attached Townhomes and Condominiums: The U.S. apartment and condominium construction market was valued at USD 91.1 billion in 2024, with an expected increase to USD 124.2 billion by 2032. The overall Condominiums and Apartments Market size was estimated at USD 1144.42 billion in 2024 and is projected to grow to USD 1499.97 billion by 2035. This segment represented 81.50% of the U.S. residential real estate market share in 2025.
  • Active Lifestyle Homes (Active Adult Community): The U.S. active adults (55+) community market size was estimated at USD 635.5 billion in 2024 and is projected to reach USD 906.6 billion by 2033. In 2022, the U.S. Active Adult market was valued at $587.7 billion and is projected to grow at a compound annual growth rate (CAGR) of 4.02% by 2030.
  • Mortgage Loans: The U.S. home mortgage market size was approximately USD 180.91 billion in 2023 and is predicted to grow to about USD 501.67 billion by 2032. Total single-family mortgage origination volume is expected to increase to $2.2 trillion in 2026, up from $2.0 trillion in 2025.
  • Title Insurance Services: The title insurance industry in the U.S. conducted over $16.5 billion in business in 2023. In the second quarter of 2025, the industry generated $4.5 billion in title insurance premiums in the U.S. The North American title insurance market, estimated at $2 billion in 2023, is projected to reach $2.8 billion by 2032.

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Hovnanian Enterprises (HOV) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Growth in Community Count and Controlled Lots: The company plans to increase its number of active communities, providing a larger base for home sales. Hovnanian ended Q2 FY2025 with 148 open-for-sale communities, a 12% year-over-year increase, and anticipates further community count growth in fiscal 2025. This expansion is supported by a substantial controlled land pipeline of 42,440 lots, representing a 7.7-year supply.
  2. Increased Home Deliveries and Average Sales Price: Hovnanian projects revenue growth driven by a higher volume of home deliveries and an increase in the average sales price of its homes. The company's "pace-over-price" strategy, which prioritizes sales volume, contributes to increased deliveries, thereby supporting revenue despite potential impacts on gross margins.
  3. Expansion through Joint Ventures and International Operations: Hovnanian's acquisition of a controlling interest in a previously unconsolidated joint venture in the Kingdom of Saudi Arabia (KSA), effective January 1, 2026, is expected to contribute to consolidated revenues, marking an expansion into international markets.
  4. Strategic Shift Towards Higher-Margin, To-Be-Built Homes: While currently utilizing incentives and quick move-in (QMI) homes to maintain sales pace, management expects improved profitability and revenue contribution in the latter half of 2026 from an increasing number of higher-margin, "to-be-built" homes. This strategic shift, along with operational innovations, is expected to help drive overall revenue to $3.32 billion by FY2027.

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Share Repurchases

  • Hovnanian Enterprises repurchased 188,800 shares of its Class A common stock with an aggregate market value of $26.5 million in fiscal 2024.
  • During the second quarter of fiscal 2025, the company repurchased 126,448 shares of common stock for $12.2 million.
  • As of April 11, 2025, the Board of Directors authorized up to $30.6 million for repurchases of Class A common stock, which includes any remaining funds from prior authorizations.

Share Issuance

  • Between October 31, 2024, and October 31, 2025, the number of Class A common shares outstanding increased by 87,928, from 6,415,794 to 6,503,722.
  • Between October 31, 2024, and October 31, 2025, Class B common shares outstanding increased by 55,387, from 757,023 to 812,410.
  • In December 2025, company officers and directors acquired Class A and Class B common stock through long-term incentive plan (LTIP) awards, following the satisfaction of financial performance criteria.

Outbound Investments

  • Hovnanian Enterprises continually makes investments in and advances to unconsolidated joint ventures.
  • The company's subsidiary, K. Hovnanian M.E. Investments, signed a Memorandum of Understanding with the Saudi Arabia Tourism Development Fund and Emaar, The Economic City to develop tourism and lifestyle residential projects in King Abdullah Economic City.
  • The company's focus includes increasing its land position, which has grown by almost 50% since the second quarter of fiscal 2023.

Capital Expenditures

  • Capital expenditures were $20 million in fiscal 2025, $16 million in fiscal 2024, and $17 million in fiscal 2023.
  • Spending on land and land development, a significant component of capital expenditures, totaled $859.4 million in fiscal 2025 and $995.4 million in fiscal 2024.
  • The primary focus of capital expenditures includes strategic land acquisitions and putting lots under option or acquiring them in consolidated communities. The company is also investing in process and technology improvements for future efficiency.

Better Bets vs. Hovnanian Enterprises (HOV)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Hovnanian Enterprises Earnings Notes12/16/2025
2Why Hovnanian Enterprises Stock Moved: HOV Stock Has Gained 142% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)08/08/2025
3HOV Dip Buy Analysis07/10/2025
4null05/16/2025
5Hovnanian Enterprises (HOV) Valuation Ratios Comparison05/15/2025
6Hovnanian Enterprises Total Shareholder Return (TSR): 153.4% in 2024 and 28.0% 3-yr compounded annual returns (above peer average)03/07/2025
7Hovnanian Enterprises (HOV) Operating Cash Flow Comparison02/17/2025
8Hovnanian Enterprises (HOV) Net Income Comparison02/15/2025
9Hovnanian Enterprises (HOV) Operating Income Comparison02/14/2025
10Hovnanian Enterprises (HOV) Revenue Comparison02/13/2025
11ARTICLES 
12Market Movers | Winners: TGL, IMG, MTVA | Losers: GCO, KITT, HOV12/04/2025
13Market Movers | Winners: SSII, BLND, TYRA | Losers: COTY, NVAX, HOV08/21/2025

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Peer Comparisons

Peers to compare with:

Financials

HOVDHILENPHMTOLKBHMedian
NameHovnania.D.R. Hor.Lennar PulteGro.Toll Bro.KB Home  
Mkt Price109.00145.6090.49118.40137.9152.04113.70
Mkt Cap0.741.922.122.713.13.317.6
Rev LTM2,91833,34833,17516,82811,0455,92113,937
Op Inc LTM453,9202,2702,7471,6174311,944
FCF LTM2713,498-901,7781,215494855
FCF 3Y Avg1972,8151,9681,6211,0504781,335
CFO LTM2963,652721,8971,312545928
CFO 3Y Avg2182,9612,1291,7321,1285211,430

Growth & Margins

HOVDHILENPHMTOLKBHMedian
NameHovnania.D.R. Hor.Lennar PulteGro.Toll Bro.KB Home  
Rev Chg LTM-4.7%-5.6%-7.2%-5.9%3.6%-13.6%-5.8%
Rev Chg 3Y Avg0.7%-0.1%-0.7%1.0%1.7%-4.6%0.3%
Rev Chg Q-2.7%-2.3%-13.3%-12.4%-7.6%-22.6%-10.0%
QoQ Delta Rev Chg LTM-0.6%-0.5%-3.0%-2.8%-1.8%-5.0%-2.3%
Op Inc Chg LTM-77.7%-26.7%-51.1%-26.8%-9.0%-42.8%-34.8%
Op Inc Chg 3Y Avg-36.2%-15.7%-27.5%-6.9%-0.9%-23.4%-19.5%
Op Mgn LTM1.5%11.8%6.8%16.3%14.6%7.3%9.5%
Op Mgn 3Y Avg6.1%14.6%11.9%19.6%16.8%9.9%13.2%
QoQ Delta Op Mgn LTM-0.4%-0.5%-1.2%-0.9%-0.6%-1.1%-0.8%
CFO/Rev LTM10.1%11.0%0.2%11.3%11.9%9.2%10.5%
CFO/Rev 3Y Avg7.6%8.5%6.0%10.2%10.5%8.3%8.4%
FCF/Rev LTM9.3%10.5%-0.3%10.6%11.0%8.3%9.9%
FCF/Rev 3Y Avg6.9%8.1%5.6%9.5%9.8%7.6%7.8%

Valuation

HOVDHILENPHMTOLKBHMedian
NameHovnania.D.R. Hor.Lennar PulteGro.Toll Bro.KB Home  
Mkt Cap0.741.922.122.713.13.317.6
P/S0.21.30.71.41.20.60.9
P/Op Inc15.510.79.78.38.17.69.0
P/EBIT7.810.79.78.58.17.68.3
P/E19.113.212.411.110.29.211.8
P/CFO2.411.5305.712.010.06.010.7
Total Yield5.2%8.8%10.4%9.8%10.2%11.3%10.0%
Dividend Yield0.0%1.2%2.3%0.8%0.4%0.5%0.7%
FCF Yield 3Y Avg22.8%6.6%4.7%7.1%8.4%10.8%7.7%
D/E1.30.20.20.10.20.60.2
Net D/E0.90.10.1-0.00.10.50.1

Returns

HOVDHILENPHMTOLKBHMedian
NameHovnania.D.R. Hor.Lennar PulteGro.Toll Bro.KB Home  
1M Rtn-0.5%-2.1%-0.1%-1.4%-2.6%5.3%-0.9%
3M Rtn-3.4%-0.8%-10.1%-7.2%-6.4%-9.5%-6.8%
6M Rtn5.2%-7.7%-26.3%-6.4%-0.4%-17.1%-7.0%
12M Rtn13.4%20.0%-16.3%17.4%27.9%0.0%15.4%
3Y Rtn20.3%30.2%-18.3%67.9%91.0%12.8%25.3%
1M Excs Rtn-0.7%-2.4%-0.3%-1.7%-2.9%5.0%-1.2%
3M Excs Rtn-13.0%-10.4%-19.6%-16.7%-16.0%-19.0%-16.4%
6M Excs Rtn-26.4%-19.0%-39.2%-16.6%-10.8%-28.0%-22.7%
12M Excs Rtn-9.9%-4.4%-40.1%-6.5%4.8%-23.8%-8.2%
3Y Excs Rtn-46.8%-36.2%-88.2%6.7%32.3%-50.8%-41.5%

Comparison Analyses

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Financials

Segment Financials

Assets by Segment
$ Mil20252024202320222021
Homebuilding1,8501,5041,6641,3921,371
Corporate and unallocated552820742726316
Financial services204169156203141
Total2,6062,4932,5622,3211,827


Price Behavior

Price Behavior
Market Price$109.00 
Market Cap ($ Bil)0.7 
First Trading Date03/17/1992 
Distance from 52W High-30.2% 
   50 Days200 Days
DMA Price$109.60$119.16
DMA Trenddowndown
Distance from DMA-0.5%-8.5%
 3M1YR
Volatility66.9%65.9%
Downside Capture267.64184.26
Upside Capture162.13149.21
Correlation (SPY)40.7%35.4%
HOV Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta3.933.091.851.581.941.65
Up Beta0.753.142.502.752.961.61
Down Beta4.881.880.671.361.580.99
Up Capture274%159%123%71%193%991%
Bmk +ve Days13283667141432
Stock +ve Days8192757124367
Down Capture724%579%233%142%149%113%
Bmk -ve Days7132757109318
Stock -ve Days12223667125383

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with HOV
HOV21.8%65.6%0.57-
Sector ETF (XLY)7.8%18.3%0.2745.7%
Equity (SPY)25.3%12.1%1.5735.0%
Gold (GLD)27.6%26.9%0.889.9%
Commodities (DBC)36.9%19.0%1.52-19.9%
Real Estate (VNQ)12.5%13.3%0.6345.1%
Bitcoin (BTCUSD)-39.7%42.2%-1.0816.6%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with HOV
HOV-3.9%65.8%0.21-
Sector ETF (XLY)6.7%23.8%0.2450.4%
Equity (SPY)13.5%17.1%0.6246.7%
Gold (GLD)17.3%18.1%0.787.2%
Commodities (DBC)9.5%19.4%0.384.7%
Real Estate (VNQ)3.2%18.8%0.0746.0%
Bitcoin (BTCUSD)12.1%54.6%0.4219.7%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with HOV
HOV9.9%75.7%0.46-
Sector ETF (XLY)12.5%22.0%0.5247.1%
Equity (SPY)15.3%17.9%0.7343.8%
Gold (GLD)13.0%16.0%0.675.6%
Commodities (DBC)7.1%18.0%0.3214.3%
Real Estate (VNQ)5.6%20.7%0.2442.9%
Bitcoin (BTCUSD)63.9%66.9%1.0311.5%

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Short Interest

Short Interest: As Of Date5152026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 430202614.6%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest3.3 days
Basic Shares Quantity6.4 Mil
Short % of Basic Shares5.6%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/21/202617.8%13.7% 
2/25/20262.6%-2.3%-8.6%
12/4/2025-22.5%-24.9%-25.1%
8/21/2025-11.5%-6.2%-3.4%
5/20/2025-12.5%-11.3%-16.7%
2/24/2025-12.4%-16.3%-6.8%
12/5/2024-6.7%-13.8%-33.1%
8/22/202414.8%3.7%3.5%
...
SUMMARY STATS   
# Positive12108
# Negative131516
Median Positive11.4%13.8%4.7%
Median Negative-11.5%-12.3%-13.5%
Max Positive27.5%52.2%49.6%
Max Negative-22.5%-28.8%-33.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
04/30/202606/02/202610-Q
01/31/202603/02/202610-Q
10/31/202512/22/202510-K
07/31/202508/29/202510-Q
04/30/202505/30/202510-Q
01/31/202502/28/202510-Q
10/31/202412/18/202410-K
07/31/202408/30/202410-Q
04/30/202405/31/202410-Q
01/31/202403/01/202410-Q
10/31/202312/18/202310-K
07/31/202309/01/202310-Q
04/30/202306/05/202310-Q
01/31/202303/06/202310-Q
10/31/202212/19/202210-K
07/31/202209/06/202210-Q

Recent Forward Guidance

Updated 6/1/2026

Latest: Q2 2026 Earnings Reported 5/21/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Total Revenues650.00 Mil700.00 Mil750.00 Mil3.7% Higher NewGuidance: 675.00 Mil for Q2 2026
Q3 2026 Adjusted Homebuilding Gross Margin14.0%14.5%15.0%7.4%1.0%Higher NewGuidance: 13.5% for Q2 2026
Q3 2026 Adjusted Income Before Income Taxes05.00 Mil10.00 Mil0 Same NewGuidance: 5.00 Mil for Q2 2026
Q3 2026 Adjusted EBITDA30.00 Mil35.00 Mil40.00 Mil0 Same NewGuidance: 35.00 Mil for Q2 2026

Prior: Q1 2026 Earnings Reported 2/25/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Total Revenues625.00 Mil675.00 Mil725.00 Mil12.5% Higher NewActual: 600.00 Mil for Q1 2026
Q2 2026 Adjusted Homebuilding Gross Margin13.0%13.5%14.0%00Same NewActual: 13.5% for Q1 2026
Q2 2026 Adjusted Income Before Income Taxes05.00 Mil10.00 Mil-66.7% Lower NewActual: 15.00 Mil for Q1 2026
Q2 2026 Adjusted EBITDA30.00 Mil35.00 Mil40.00 Mil-12.5% Lower NewActual: 40.00 Mil for Q1 2026

Insider Activity

Updated 5/29/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Hovnanian, Ara KChairman of Bd., Pres. & CEOHeld as trustee of trusts for Nadia K. Rodriguez's familySell8292025138.3160984,2308,699,090Form
2Sellers, Robin Stone DirectSell7092025113.2675084,9431,996,730Form
3Sellers, Robin Stone DirectSell7092025109.9975082,4912,021,572Form
4Kangas, Edward A DirectSell7012025107.125,500589,166571,812Form

Industry Resources

External Quote Links


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Core Cache Last Updated: 6/5/2026