Hudson Pacific Properties, Inc. (HPP.PC) stock analysis

HPP.PCNYSEReal EstateFiscal year ends December 31Also trades as HPP

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026Score 5/3067% below fair value

$13.73−0.08 (-0.58%)

Close on Oct 30, 2026Market cap $745.11MP/E –Yield 0.00%

StockData Score

Prices as of Oct 30, 2026How the score works

Weak5 of 30 checks passed

Hudson Pacific Properties passes 5 of the 30 checks behind our score; 21 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation: 3/6
Growth: 2/6
Past performance: 0/6
Financial health: 0/6
Dividend: 0/6

What stands out

Margin of safety over 20%
The price is 67.2% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $10.54 is below our fair value estimate of $32.10.
Guidance raised
Hudson Pacific Properties raised its full-year 2026 Core FFO per diluted share outlook on Aug 5, 2026.
P/B below the industry
Hudson Pacific Properties's price-to-book of 0.20 is below the Real estate median of 0.81.

What to watch

Revenue growing under 10% a year
Revenue grew -6.8% a year over the last three fiscal years, short of the 10% we look for.
Elevated bankruptcy risk
The Altman Z-score is 0.20; above 3 is the safe zone and below 1.8 the distress zone.
Growing slower than the industry
Revenue grew 1.8% over the last twelve months; the Real estate median is 5.3%.
No dividend
Hudson Pacific Properties has not paid a dividend in the last twelve months.

Valuation3/6

P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B below the industry
Hudson Pacific Properties's price-to-book of 0.20 is below the Real estate median of 0.81.
Trading below fair value
The share price of $10.54 is below our fair value estimate of $32.10.
Margin of safety over 20%
The price is 67.2% below fair value, more than the 20% cushion we look for.

Growth2/6

Revenue growing under 10% a year
Revenue grew -6.8% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 1.8% over the last twelve months; the Real estate median is 5.3%.
Guidance raised
Hudson Pacific Properties raised its full-year 2026 Core FFO per diluted share outlook on Aug 5, 2026.
Gross margin improving
Gross margin was 49.4% over the last twelve months, against 43.4% a year earlier.

Past performance0/6

Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity against the industry
Needs positive equity.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin against the industry
Needs revenue and net income.

Financial health0/6

Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest coverage
Interest expense is not reported separately.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Elevated bankruptcy risk
The Altman Z-score is 0.20; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

No dividend
Hudson Pacific Properties has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$32.10

The share price is 67% below this estimate.

20%+ below

Near fair value

20%+ above

$10.54Price$32.10Fair value

Method	Multiple used	Own 5Y median	Industry median	Value per share	Weight
P/B	0.5×	0.3×	0.8×	$27.62	29%
P/S	2.9×	0.9×	4.9×	$42.79	29%
Earnings power	11.4% cost of equity	–	–	$27.96	43%
Fair value				$32.10	100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

P/E at month end
Real estate median 17.1

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Medium risk

Average value traded per day: $8.46M
Value traded per 1% price move: $2.94M

Downside

High risk

Typical loss in a bad month: 32.5%
Volatility (annualized): 72%
Sharpe ratio, 1 year: -0.56
Beta to the S&P 500 (5Y): 1.28

Typical bad-month loss, week by week

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

48.5%−14.2 pts over 5 years

Operating margin

–

Net margin

–

Per year	1 year	3 years	5 years	10 years	Five-year pace
Revenue	-1.3%	-6.8%	+0.6%	+4.8%
Gross profit	+4.0%	-13.0%	-4.4%	–

Measure	FY2016	FY2020	FY2025
Interest coverage	1.2×	–	–
Inventory turnover	–	–	–
Diluted shares	16M	22M	45M

DuPont analysis

Return on equity split into margin, efficiency and leverage

Net margin4.3%

Asset turnover0.10×

Equity multiplier2.71×

Return on equity, FY20161.1%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2016	4.3%	0.10×	2.71×	1.1%

Where these numbers come from

Parsed from the XBRL in Hudson Pacific Properties's annual and quarterly filings with the SEC
Per-share figures adjusted for the 1-for-7 reverse split on Dec 2, 2025
Fourth quarters derived from the annual report minus nine months
Every figure in the statements links to its source filing