What is Armada Hoffler Pptys Inc's earnings per share (EPS)?

Armada Hoffler Pptys Inc (AHH) reported diluted earnings per share of $-0.08 for fiscal year 2026. This represents a -60.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Armada Hoffler Pptys Inc Financials

AHH

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Armada Hoffler Pptys Inc (AHH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AHH FY2025 2026-05-07

Operating cash flow no longer fully funds dividends, forcing a more balance-sheet-dependent model as leverage climbs.

In FY2025, even after a smaller payout, dividends paid of $75.2M exceeded operating cash flow of $64.2M. Cash still rose because financing added $52.5M, a clear shift from FY2024 when operating cash flow of $112.0M covered the payout and left room to self-fund the dividend.

The balance sheet is carrying more strain: debt to equity returned to 2.4x in FY2025 while return on assets slipped to 0.2%, so added leverage is not translating into stronger bottom-line productivity from a very large asset base. Liabilities have also grown faster than equity since FY2022, which means the asset base is being supported more by creditors than by retained earnings and less by accumulated profit.

Revenue volatility is overstating the change in earnings capacity: sales fell to $285.2M in FY2025, but EBITDA remained $153.3M, suggesting the asset base's earning power moved far less than the top line. With depreciation still running at $72.5M, reported net income of just $3.9M says more about heavy noncash charges and financing structure than about whether the asset base is still generating meaningful operating earnings.

Financial Health Signals

Financial Profile 25/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Armada Hoffler Pptys Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Armada Hoffler Pptys Inc has an operating margin of 23.1%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is up from 14.8% the prior year.

Growth

Armada Hoffler Pptys Inc's revenue declined 49.2% year-over-year, from $413.1M to $209.9M. This contraction results in a growth score of 0/100.

Leverage

Armada Hoffler Pptys Inc has a moderate D/E ratio of 2.05. This balance of debt and equity financing earns a leverage score of 60/100.

Returns

Armada Hoffler Pptys Inc generates a 0.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is down from 1.3% the prior year.

Piotroski F-Score Neutral

4/9

Armada Hoffler Pptys Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

16.47x

For every $1 of reported earnings, Armada Hoffler Pptys Inc generates $16.47 in operating cash flow ($64.2M OCF vs $3.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

6.1x

Armada Hoffler Pptys Inc earns $6.1 in operating income for every $1 of interest expense ($48.5M vs $8.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$209.9M

YoY-49.2%

5Y CAGR-4.0%

10Y CAGR+2.2%

Armada Hoffler Pptys Inc generated $209.9M in revenue in fiscal year 2026. This represents a decrease of 49.2% from the prior year.

EBITDA

$121.0M

YoY-3.8%

5Y CAGR+4.5%

10Y CAGR+12.0%

Armada Hoffler Pptys Inc's EBITDA was $121.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.8% from the prior year.

Net Income

$3.9M

YoY-49.4%

5Y CAGR-30.5%

10Y CAGR-6.6%

Armada Hoffler Pptys Inc reported $3.9M in net income in fiscal year 2026. This represents a decrease of 49.4% from the prior year.

EPS (Diluted)

$-0.08

YoY-60.0%

Armada Hoffler Pptys Inc earned $-0.08 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 60.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$40.7M

YoY+103.5%

5Y CAGR+0.8%

10Y CAGR+4.6%

Armada Hoffler Pptys Inc held $40.7M in cash against $1.3B in long-term debt as of fiscal year 2026.

Dividends Per Share

$0.56

YoY-27.7%

5Y CAGR-7.8%

10Y CAGR-1.3%

Armada Hoffler Pptys Inc paid $0.56 per share in dividends in fiscal year 2026. This represents a decrease of 27.7% from the prior year.

Shares Outstanding

80M

YoY+20.0%

5Y CAGR+7.3%

10Y CAGR+12.3%

Armada Hoffler Pptys Inc had 80M shares outstanding in fiscal year 2026. This represents an increase of 20.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

23.1%

YoY+8.3pp

5Y CAGR+6.5pp

10Y CAGR+10.4pp

Armada Hoffler Pptys Inc's operating margin was 23.1% in fiscal year 2026, reflecting core business profitability. This is up 8.3 percentage points from the prior year.

Net Margin

1.9%

YoY+0.0pp

5Y CAGR-7.5pp

10Y CAGR-2.7pp

Armada Hoffler Pptys Inc's net profit margin was 1.9% in fiscal year 2026, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.

Return on Equity

0.6%

YoY-0.7pp

5Y CAGR-5.3pp

Armada Hoffler Pptys Inc's ROE was 0.6% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 0.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Armada Hoffler Pptys Inc spent $0 on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

N/A

AHH Income Statement

Metric	FY26	FY23	FY22	FY21	FY20	FY19
Revenue	$209.9M-49.2%	$413.1M-12.3%	$471.1M+55.7%	$302.5M-21.1%	$383.6M+49.2%	$257.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	$101.5M
Gross Profit	N/A	$184.0M+10.1%	$167.2M+17.0%	$142.8M+22.0%	$117.1M+10.1%	$106.4M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$20.3M+18.3%	$17.2M+9.6%	$15.7M+7.4%	$14.6M+13.2%	$12.9M+4.1%	$12.4M
Operating Income	$48.5M-20.5%	$61.1M-54.6%	$134.4M+127.2%	$59.2M+21.4%	$48.7M+14.3%	$42.6M
Interest Expense	$8.0M-86.2%	$57.8M+45.7%	$39.7M+17.0%	$33.9M+9.2%	$31.0M-1.0%	$31.3M
Income Tax	-$482K-136.3%	$1.3M+1016.6%	-$145K+80.5%	-$742K-162.2%	-$283K+42.4%	-$491K
Net Income	$3.9M-49.4%	$7.7M-92.3%	$100.0M+292.2%	$25.5M-12.5%	$29.2M+21.2%	$24.1M
EPS (Diluted)	$-0.08-60.0%	$-0.05-105.3%	$0.94+452.9%	$0.17-55.3%	$0.38-7.3%	$0.41

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$52.3M-6.5%	$55.9M+5.3%	$53.1M+4.7%	$50.7M+1.1%	$50.2M+1.3%	$49.5M-56.7%	$114.4M-2.1%	$116.8M
Cost of Revenue	$700K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$51.6M	N/A	N/A	N/A	N/A	N/A	$51.5M+5.4%	$48.8M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$4.7M	N/A	$4.4M-25.9%	$6.0M-16.2%	$7.2M	N/A	$5.2M+15.2%	$4.5M
Operating Income	$11.6M-27.0%	$15.9M+42.9%	$11.1M-18.2%	$13.6M+73.4%	$7.9M-73.4%	$29.5M+115.4%	$13.7M+148.7%	$5.5M
Interest Expense	$13.8M	N/A	$2.2M+11.6%	$1.9M+12.4%	$1.7M	N/A	$1.7M-2.4%	$1.8M
Income Tax	N/A	N/A	$192K+133.9%	-$567K-398.4%	$190K	N/A	$592K+147.5%	-$1.2M
Net Income	-$23.2M-1119.5%	$2.3M+2740.0%	$80K-98.7%	$5.9M+312.1%	-$2.8M-109.7%	$29.0M+676.3%	-$5.0M-258.8%	$3.2M
EPS (Diluted)	$-0.33-3200.0%	$-0.01+75.0%	$-0.04-200.0%	$0.04+157.1%	$-0.07-126.9%	$0.26+316.7%	$-0.12	$0.00

AHH Balance Sheet

Metric	FY26	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.6B+1.3%	$2.6B+14.3%	$2.2B+15.7%	$1.9B+1.1%	$1.9B+6.2%	$1.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$40.7M+103.5%	$20.0M-57.8%	$47.5M+34.8%	$35.2M-14.0%	$41.0M+4.5%	$39.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$64.7M+42.2%	$45.5M+16.2%	$39.2M+32.5%	$29.6M+4.7%	$28.3M+20.4%	$23.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.8B+0.5%	$1.8B+31.3%	$1.3B+15.5%	$1.2B-0.2%	$1.2B+0.9%	$1.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.3B-8.1%	$1.4B+30.8%	$1.1B+16.4%	$917.6M-4.8%	$963.8M+1.4%	$950.5M
Total Equity	$627.8M+9.6%	$572.6M-11.6%	$647.5M+16.6%	$555.4M+6.1%	$523.2M+28.1%	$408.6M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$2.5B-4.8%	$2.6B+0.8%	$2.6B0.0%	$2.6B+4.5%	$2.5B-1.9%	$2.5B-1.9%	$2.6B-0.3%	$2.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$28.5M-29.9%	$40.7M-12.4%	$46.5M-10.7%	$52.1M+105.8%	$25.3M+15.2%	$22.0M-49.9%	$43.9M+116.0%	$20.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$63.2M-2.4%	$64.7M+11.1%	$58.3M+7.9%	$54.0M+4.0%	$51.9M-1.8%	$52.8M+2.8%	$51.4M+16.4%	$44.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.7B-3.1%	$1.8B+2.0%	$1.7B+1.0%	$1.7B+7.5%	$1.6B-1.6%	$1.6B-3.4%	$1.7B-5.7%	$1.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.2B-3.0%	$1.3B-13.6%	$1.5B+2.7%	$1.4B+9.6%	$1.3B+1.9%	$1.3B-2.4%	$1.3B-6.4%	$1.4B
Total Equity	$569.5M-9.3%	$627.8M-1.7%	$638.8M-2.0%	$652.0M-0.8%	$657.4M-2.0%	$670.6M+1.0%	$663.9M+18.0%	$562.7M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AHH Cash Flow Statement

Metric	FY26	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$64.2M-31.1%	$93.3M-20.1%	$116.9M+28.2%	$91.2M0.0%	$91.2M+34.6%	$67.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$26.7M+88.7%	-$237.3M-613.8%	-$33.2M+42.3%	-$57.6M-119.7%	-$26.2M+91.1%	-$295.1M
Financing Cash Flow	$52.5M-57.0%	$122.3M+269.3%	-$72.2M-65.8%	-$43.5M+25.1%	-$58.1M-123.5%	$246.9M
Dividends Paid	$75.2M-6.4%	$80.4M+10.8%	$72.6M+23.6%	$58.7M+23.3%	$47.6M-22.6%	$61.5M
Share Buybacks	$0-100.0%	$12.6M	$0	$0	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$12.5M-53.4%	$26.7M+1.7%	$26.3M+136.8%	$11.1M+10276.6%	$107K-99.5%	$20.8M-23.9%	$27.3M+57.2%	$17.4M
Capital Expenditures	$2.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	$10.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	-$40.5M-131.8%	-$17.5M+18.6%	-$21.5M-152.6%	$40.9M+383.9%	-$14.4M-17.7%	-$12.2M
Financing Cash Flow	N/A	$32.9M+247.1%	$9.5M-23.7%	$12.4M+646.2%	-$2.3M+93.5%	-$35.2M-417.2%	$11.1M+140.6%	-$27.3M
Dividends Paid	$27.7M+360.8%	$6.0M-78.8%	$28.4M+65.4%	$17.2M-27.5%	$23.7M+9.8%	$21.5M+1.8%	$21.2M+0.4%	$21.1M
Share Buybacks	$21.0M	N/A	N/A	N/A	$0	N/A	N/A	N/A

AHH Financial Ratios

Metric	FY26	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	44.5%+9.1pp	35.5%-11.7pp	47.2%+16.7pp	30.5%-10.8pp	41.4%
Operating Margin	23.1%+8.3pp	14.8%-13.8pp	28.5%+9.0pp	19.6%+6.8pp	12.7%-3.9pp	16.6%
Net Margin	1.9%0.0pp	1.9%-19.4pp	21.2%+12.8pp	8.4%+0.8pp	7.6%-1.8pp	9.3%
Return on Equity	0.6%-0.7pp	1.3%-14.1pp	15.4%+10.9pp	4.6%-1.0pp	5.6%-0.3pp	5.9%
Return on Assets	0.1%-0.1pp	0.3%-4.2pp	4.5%+3.1pp	1.3%-0.2pp	1.5%+0.2pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.05-0.4	2.44+0.8	1.650.0	1.65-0.2	1.84-0.5	2.33
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	98.7%	N/A	N/A	N/A	N/A	N/A	45.0%+3.2pp	41.8%
Operating Margin	22.2%-6.3pp	28.5%+7.5pp	21.0%-5.9pp	26.9%+11.2pp	15.7%-44.0pp	59.6%+47.6pp	12.0%+7.3pp	4.7%
Net Margin	-44.3%-48.3pp	4.1%+3.9pp	0.1%-11.6pp	11.7%+17.3pp	-5.6%-64.2pp	58.6%+63.0pp	-4.4%-7.1pp	2.7%
Return on Equity	-4.1%-4.4pp	0.4%+0.4pp	0.0%-0.9pp	0.9%+1.3pp	-0.4%-4.8pp	4.3%+5.1pp	-0.8%-1.3pp	0.6%
Return on Assets	-0.9%-1.0pp	0.1%+0.1pp	0.0%-0.2pp	0.2%+0.3pp	-0.1%-1.3pp	1.2%+1.4pp	-0.2%-0.3pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.19+0.1	2.05-0.3	2.33+0.1	2.22+0.2	2.01+0.1	1.93-0.1	2.00-0.5	2.52
FCF Margin	20.0%	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Armada Hoffler Pptys Inc's annual revenue?

Armada Hoffler Pptys Inc (AHH) reported $209.9M in total revenue for fiscal year 2026. This represents a -49.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Armada Hoffler Pptys Inc's revenue growing?

Armada Hoffler Pptys Inc (AHH) revenue declined by 49.2% year-over-year, from $413.1M to $209.9M in fiscal year 2026.

Is Armada Hoffler Pptys Inc profitable?

Yes, Armada Hoffler Pptys Inc (AHH) reported a net income of $3.9M in fiscal year 2026, with a net profit margin of 1.9%.

What is Armada Hoffler Pptys Inc's EBITDA?

Armada Hoffler Pptys Inc (AHH) had EBITDA of $121.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Armada Hoffler Pptys Inc have?

As of fiscal year 2026, Armada Hoffler Pptys Inc (AHH) had $40.7M in cash and equivalents against $1.3B in long-term debt.

What is Armada Hoffler Pptys Inc's operating margin?

Armada Hoffler Pptys Inc (AHH) had an operating margin of 23.1% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Armada Hoffler Pptys Inc's net profit margin?

Armada Hoffler Pptys Inc (AHH) had a net profit margin of 1.9% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Does Armada Hoffler Pptys Inc pay dividends?

Yes, Armada Hoffler Pptys Inc (AHH) paid $0.56 per share in dividends during fiscal year 2026.

What is Armada Hoffler Pptys Inc's return on equity (ROE)?

Armada Hoffler Pptys Inc (AHH) has a return on equity of 0.6% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Armada Hoffler Pptys Inc's operating cash flow?

Armada Hoffler Pptys Inc (AHH) generated $64.2M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Armada Hoffler Pptys Inc's total assets?

Armada Hoffler Pptys Inc (AHH) had $2.6B in total assets as of fiscal year 2026, including both current and long-term assets.

How many shares does Armada Hoffler Pptys Inc have outstanding?

Armada Hoffler Pptys Inc (AHH) had 80M shares outstanding as of fiscal year 2026.

What is Armada Hoffler Pptys Inc's debt-to-equity ratio?

Armada Hoffler Pptys Inc (AHH) had a debt-to-equity ratio of 2.05 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Armada Hoffler Pptys Inc's return on assets (ROA)?

Armada Hoffler Pptys Inc (AHH) had a return on assets of 0.1% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Armada Hoffler Pptys Inc's Piotroski F-Score?

Armada Hoffler Pptys Inc (AHH) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Armada Hoffler Pptys Inc's earnings high quality?

Armada Hoffler Pptys Inc (AHH) has an earnings quality ratio of 16.47x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Armada Hoffler Pptys Inc cover its interest payments?

Armada Hoffler Pptys Inc (AHH) has an interest coverage ratio of 6.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Armada Hoffler Pptys Inc?

Armada Hoffler Pptys Inc (AHH) scores 25 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.