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Hovnanian Enterprises (HOV) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 28, 2026 · Hovnanian Enterprises (HOV) Q3 FY26 earnings results →

Q3 FY26 Revenue down 12% year over year to $706M · 0¢ of every $1 of revenue lost · operating margin -0.9%

Hovnanian Enterprises made $706M in Q3 FY26 (-12% Y/Y): Home Building $682M, Financial Services $23.7M. Operating margin -0.9%, net loss $2.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 28, 2026.

Revenue$706M
Year over year-12%
Operating margin-0.9%
Net earnings−$2.2M
Operating cash flow−$24.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $705.7M in Q3 FY26, down 12% year over year and up 6% from the previous quarter. Home Building was the largest line at 97% of revenue. Home Building lost $89.9M year over year (down 12%), 95% of the total change.

Operating costs exceeded revenue by $6.2M, an operating margin of -0.9%. Total costs fell 10% while revenue fell 12%. The quarter ended with a net loss of $2.2M, wider than the previous quarter's $595K loss. Non-operating items added $3.4M, -122% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$24.0M. Non-cash charges added back $3.7M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items used $31.0M. Capital expenditures of $3.8M exceeded it, leaving free cash flow of −$27.9M.

Quarterly history

Hovnanian Enterprises revenue by quarterHovnanian Enterprises revenue by quarter$980MQ4 FY24$686MQ2 FY25$801MQ3 FY25$818MQ4 FY25$632MQ1 FY26$668MQ2 FY26$706MQ3 FY26
Hovnanian Enterprises net earnings by quarterHovnanian Enterprises net earnings by quarter$87.9MQ4 FY24$19.7MQ2 FY25$16.6MQ3 FY25−$667KQ4 FY25$18.2MQ1 FY26−$595KQ2 FY26−$2.2MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 28, 2026$706M-12%-0.9%−$2.2M−$24.0M
Q2 FY2610-QJun 2, 2026$668M-3%0.2%−$595K−$67.1M
Q1 FY2610-QMar 2, 2026$632M-6%4.0%$18.2M$141M
Q4 FY2510-KDec 22, 2025$818M-16%2.0%−$667K$169M
Q3 FY2510-QAug 29, 2025$801M+11%1.0%$16.6M$52.8M
Q2 FY2510-QMay 30, 2025$686M-3%2.5%$19.7M$22.3M
Q4 FY2410-KDec 18, 2024$980M+10%10.5%$87.9M$116M

Charts

Hovnanian Enterprises: revenue growth, year over year and quarter over quarterHovnanian Enterprises: revenue growth, year over year and quarter over quarterY/YQ/Q+10%Q4 FY24-3%-30%Q2 FY25+11%+17%Q3 FY25-16%+2%Q4 FY25-6%-23%Q1 FY26-3%+6%Q2 FY26-12%+6%Q3 FY26
Latest (Q3 FY26): Y/Y -12%, Q/Q +6%.
Hovnanian Enterprises: where the cash came from (+) and went (−), TTM to Q3 FY26Hovnanian Enterprises: where the cash came from (+) and went (−), TTM to Q3 FY26Net borrowing (+) / repaid (−)−$818MOther financing$757MOperating cash flow$219MCash drawn (+) / kept (−)−$96.2MOther investing−$27.1MCapital spending−$21.1MBuybacks−$18.4MAsset & business sales$4.5M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Hovnanian Enterprises: profit against cash, quarter by quarterHovnanian Enterprises: profit against cash, quarter by quarterNet incomeOperating cash flow$94.3M$116MQ4 FY24$28.2M−$55.9MQ1 FY25$19.7M$22.3MQ2 FY25$16.6M$52.8MQ3 FY25−$667K$169MQ4 FY25$20.9M$141MQ1 FY26−$595K−$67.1MQ2 FY26−$2.2M−$24.0MQ3 FY26
Latest (Q3 FY26): Net income −$2.2M, Operating cash flow −$24.0M.
Hovnanian Enterprises: diluted shares by fiscal yearHovnanian Enterprises: diluted shares by fiscal year7MFY206MFY217MFY227MFY237MFY247MFY25
+4.7% since FY20: more shares outstanding (issuance, stock pay).
Hovnanian Enterprises in its industry: growth against margin (15 companies, SIC 1531)Hovnanian Enterprises in its industry: growth against margin (15 companies, SIC 1531)revenue growth, year over year →↑ operating marginmedian -8%median 8%DHIPHMTOLNVRECGKBHMHODFHCCSTri Pointe Homes, Inc.BZHGRBKLGIHSDHCHOV (-12%, -1%)
Operative Builders; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Hovnanian Enterprises

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company’s homes are marketed and sold under the trade name K. Hovnanian  Homes. Additionally, the Company’s subsidiaries, as developers of K. Hovnanian’s  Four Seasons communities, make the Company one of the nation’s largest builders of active lifestyle communities. Additional information on Hovnanian Enterprises, Inc. can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com .

In its own words, from its 8-K, filed Aug 20, 2026.

Hovnanian Enterprises against its Operative Builders peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -12% against the peers' median -8%. Operating margin: -0.9% against the peers' median 8.8%.

CompanyQuarterRevenueY/YOp. margin
HOV Hovnanian EnterprisesQ3 FY26$706M-12%-0.9%
DHI Horton D RQ4 FY26$9.4B-3%10.8%
PHM PultegroupQ3 2026$4.0B-10%15.7%
TOL Toll BrothersQ3 FY26$2.7B-10%13.5%
NVR NVRQ3 2026$2.4B-8%13.9%
ECG Everus Construction GroupQ3 2026$1.4B+40%8.8%
KBH KB HomeQ3 FY26$1.3B-20%6.3%
MHO M/I HomesQ3 2026$1.1B-5%7.7%
DFH Dream Finders HomesQ3 2026$996M+3%1.3%

Source: Hovnanian Enterprises 10-Q on SEC EDGAR · CIK 357294 · Operative Builders

13F: who owns HOV and who is buying

Largest holders of HOV (13F)Largest holders of HOV (13F)BlackRock$60.4MState Street$30.2MVanguard Capital Management LLC$28.0MVanguard Group$27.2MDimensional Fund Advisors LP$25.0MAmerican Century Companies$23.4MRenaissance Technologies LLC$23.0MForager Capital Management, LLC$21.3MGeode Capital Management, LLC$17.2MD. E. Shaw$16.4M
Funds' net buying of HOV by quarter (13F)Funds' net buying of HOV by quarter (13F)$47.9M2024-09−$10.7M2024-12−$19.9M2025-03$1.5M2025-06$11.4M2025-09$191K2025-12−$2.0M2026-03$7.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on HOV

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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