Hudson Pacific Properties, Inc. (HPP) intrinsic value & 10-year financials
Hudson Pacific Properties, Inc. (HPP) has a Graham intrinsic value of $0.50 per share. At $10.30 on Oct 17, 2026, the stock trades 1960% above that value. Over the last 10 fiscal years revenue grew 3.0% a year to $831.1M, with an average return on invested capital of -3.1%.
- Graham intrinsic value
- $0.50
- Share price (Oct 17, 2026)
- $10.30
- Price vs Graham value
- 1960% above
- Market cap
- $460.2M
- Revenue (FY2025)
- $831.1M
- Revenue growth (10-yr CAGR)
- 3.0%
- ROIC (10-yr avg)
- -3.1%
- Free cash flow (FY2025)
- —
HPP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $831.1M | -$592.3M | -$12.81 | — | — | -20.3% |
| FY2024 | $842.1M | -$381.4M | -$2.58 | — | — | -12.9% |
| FY2023 | $952.3M | -$170.7M | -$1.36 | — | — | -5.3% |
| FY2022 | $1.0B | -$16.5M | -$0.39 | — | — | -0.5% |
| FY2021 | $896.8M | $29.0M | $0.04 | — | — | 0.8% |
| FY2020 | $805.0M | $16.4M | $0.00 | — | — | 0.5% |
| FY2019 | $818.2M | $55.8M | $0.28 | — | — | 0.9% |
| FY2018 | $728.4M | $111.8M | $0.63 | — | — | 1.8% |
| FY2017 | $728.1M | $94.6M | $0.44 | — | 18.8% | 2.4% |
| FY2016 | $639.6M | $27.2M | $0.25 | — | 14.0% | 1.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Hudson Pacific Properties, Inc. has demonstrated mature, steady growth, with revenue compounding at 3.0% annually over the past decade.
Hudson Pacific Properties, Inc. has historically struggled to out-earn its cost of capital, averaging just 1.7% ROIC.
Over the decade, Hudson Pacific Properties, Inc. shows that management has aggressively returned capital to shareholders by retiring 59.5% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Hudson Pacific Properties, Inc. is modeled at 3.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.50 per share.