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Hudson Pacific Properties Inc (HPP) Fair Value & Analysis

Real Estate · US · Market cap $6.4B · ISIN US4440971095

What is Hudson Pacific Properties Inc really worth?

HP Hudson Pacific Properties Inc logo Hudson Pacific Properties Inc HPP · US
Price$12.74
Fair Value$3.64
Upside−71.4%
Quality28/100

Below-average quality, and trading another 250% above our fair value of $3.64.

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Strengths

Moderate debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +0.6 %/yr)
!Loss-making · -65.0% net margin
!Trails peers (0/14)
!Narrow moat 3/100
!Evidence only medium, so the estimate is less certain
!The models disagree: range $1.01 to $6.26
!Weak on dividend: 7 out of 100
Evidence: Medium Range $1.01 – $6.26

Fair value as of: Sep 5, 2026

From 7 valuation models · updated today

Share price −8.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($6.26). The favourable scenario is already priced in.
  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide ($1.01 to $6.26). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

$177.65 $5.51 Fair Value $3.64 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range $5.51 – $177.65 · fair‑value band $1.01 – $6.26 · the $12.74 price screens above the $3.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Hudson Pacific Properties Inc (HPP) currently trades at $12.74, while our model-based Fair Value estimate is $3.64, implying the stock looks roughly 250.1% overvalued today. The Quality Score stands at 28/100 (below-average quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of $4.49 per share, and 0 of the 6 models we run sit above the $12.74 price. Bear case: the Dividend Discount group reads lowest at $0.6300, and 6 of the 6 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Hudson Pacific Properties Inc generated revenue of $815M at a net margin of −65.0%. Revenue declined 8.0% year over year. It earns a return on equity of −18.0%. Net debt stands at $3.6B. Fundamentals as of Sep 5, 2026

Our scenario range runs from $1.01 (bear case) to $6.26 (bull case); at $12.74, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 41% below its 52-week high and 142% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −22% fair-value upside, at −71%, HPP screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence $0.2800 77
5Y EBITDA Exit $4.51 $11.10 72
Gordon GGM $0.3600 $0.7300 $1.10 67
All 7 models by family
DCF Models
FCF DCF best evidence $0.2800 77
5Y EBITDA Exit $4.51 $11.10 72
10Y EBITDA Exit $2.27 $8.77 65
Dividend Discount
Gordon GGM $0.3600 $0.7300 $1.10 67
DDM Multi-Stage $0.3600 $0.6300 $0.7700 67
Multiples
EV/EBITDA $1.74 $4.49 $7.24 62
Asset-Based
NCAV (Graham) $2.95 $3.95 $5.90 54

Widest divergence: Multiples ($4.49) versus Dividend Discount ($0.6300). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/S ratio 7.88 TTM
EPS (TTM) $−9.93
Dividend yield 0.3%
Net margin −66.4% FY2025
Return on equity −18.0% TTM
Return on assets (EBIT) 0.5% avg 5y
More key figures
Profitability
Operating margin −7.5% TTM
Growth
Revenue (TTM) $815M TTM
Revenue growth (YoY) −8.0% 3y avg −6.8%
EPS growth (YoY) −36.3%
Balance sheet & cash flow
Free cash flow $98.9M FY2025
Net debt $3.6B FY2025 · ≈ 36.6 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 28/100

Of which business quality 33 · Market factors (momentum, volatility) 28

Profitability 0
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Hudson Pacific Properties, Inc. is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries.

Full company description

Hudson Pacific Properties, Inc. is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. Hudson Pacific Properties, Inc. was incorporated in 1997 and is based in Los Angeles, United States.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hudson Pacific Properties Inc reported revenue of $831M in FY2025 versus $897M in FY2021, a compound −1.9%/yr. Reported net income was −$552M in FY2025.

Growth Quality 21/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$831M
Latest YoY
−1.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−6.8%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.6%
Avg. revenue growth/yr (18Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+30.4%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −1.9%/yr
FY21 $897M
FY22 $1.0B
FY23 $952M
FY24 $842M
FY25 $831M
Net income
FY21 $10.1M
FY22 −$35.0M
FY23 −$174M
FY24 −$343M
FY25 −$552M

HPP screens 250% overvalued. Compare with MERLIN Properties SOCIMI, S.A →

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Cite: Fair Value Calculator (2026). "Hudson Pacific Properties Inc Fair Value". https://www.fairvalue-calculator.com/stock/HPP

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

REIT - Office · 69 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 29 · Bottom 25%
Fair Value upside −71% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) −65% · Bottom 25%
Operating margin (TTM) −7% · Bottom 25%
Revenue growth −8% · Bottom 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 1.15× · Higher than 75% of peers

Valuation Multiples vs REIT - Office median · lower = cheaper

P/B 2.16× · Pricier than 75% of peers
P/S (TTM) 7.88× · Pricier than 75% of peers
P/FCF 64.9× · Pricier than 75% of peers
EV/EBITDA 32.5× · Pricier than 75% of peers
PEG 6.93× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 24
FUTURE0 · sector 0
PAST0 · sector 11
HEALTH43 · sector 66
DIVIDEND7 · sector 100

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
MERLIN Properties SOCIMI, S.A MRL €13.51 €5.66 −58%
BXP, Inc BXP $67.95 $53.27 −22%
Vornado Realty Trust VNORP $51.00 $40.45 −21%
Alexandria Real Estate Equities, Inc ARE $51.63 $58.69 +14%
Gecina GFC €67.25 €75.35 +12%
Mapletree Pan Asia Commercial Trust N2IU 1.27 SGD 1.14 SGD −10%
Cousins Properties Incorporated CUZ $29.25 $17.46 −40%
EMBASSYRR EMBASSYRR ₹449.01 ₹134.34 −70%
Embassy Office Parks REIT owns, EMBASSY ₹435.90 ₹141.82 −67%
DEXUS DXS A$5.96 A$4.49 −25%

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Frequently asked questions

Is Hudson Pacific Properties Inc (HPP) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of $3.64 versus a price of $12.74, about −71% upside (overvalued).
What is the fair value of HPP?
Our model-based fair value for Hudson Pacific Properties Inc is $3.64 (as of Sep 5, 2026), built from audited fundamentals. The current price: $12.74.
What is the quality score of HPP?
Hudson Pacific Properties Inc has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Hudson Pacific Properties Inc (HPP)?
Hudson Pacific Properties Inc reported trailing-twelve-month revenue of about $815M (latest available figure, as of Sep 5, 2026).
What is the net profit margin of HPP?
The net profit margin of Hudson Pacific Properties Inc is about −65.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Hudson Pacific Properties Inc pay a dividend?
Hudson Pacific Properties Inc currently shows a dividend yield of about 0.33% relative to its recent price (as of Sep 5, 2026).
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