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CHCI

Comstock Holding Companies, Inc.

CHCI

Comstock Holding Companies, Inc. • NASDAQ
$13.65 ▲ 0.59% (+0.08)
Market Cap $134.69 M
52w High $18.99
52w Low $6.31
Dividend Yield 0%
P/E 8.98
Volume 15.55K
Outstanding Shares 9.87M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $13.317M ▲ $798K ▲ $541K ▼ 4.062% ▼ $0.05 ▼ $1.064M ▼
Q2-2025 $12.972M ▲ $687K ▲ $1.446M ▼ 11.147% ▼ $0.14 ▼ $2.163M ▲
Q1-2025 $12.639M ▼ $615K ▲ $1.589M ▼ 12.572% ▼ $0.16 ▼ $1.817M ▼
Q4-2024 $16.908M ▲ $571K ▼ $10.327M ▲ 61.078% ▲ $1.04 ▲ $5.166M ▲
Q3-2024 $12.995M $584K $2.377M 18.292% $0.24 $2.905M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $26.171M ▼ $67.595M ▲ $11.331M ▲ $56.264M ▲
Q2-2025 $30.483M ▲ $65.24M ▲ $9.789M ▲ $55.451M ▲
Q1-2025 $28.297M ▼ $62.807M ▼ $9.09M ▼ $53.717M ▲
Q4-2024 $28.761M ▲ $64.867M ▲ $12.498M ▲ $52.369M ▲
Q3-2024 $21.051M $52.164M $10.477M $41.687M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $541K ▼ $-3.227M ▼ $-1.102M ▼ $17K ▼ $-4.312M ▼ $-3.262M ▼
Q2-2025 $1.446M ▼ $2.185M ▲ $-38K ▲ $39K ▲ $2.186M ▲ $2.159M ▲
Q1-2025 $1.589M ▼ $582K ▼ $-515K ▼ $-531K ▼ $-464K ▼ $419K ▼
Q4-2024 $10.327M ▲ $7.77M ▲ $-211K ▼ $151K ▲ $7.71M ▲ $7.707M ▲
Q3-2024 $2.377M $3.286M $396K $-62K $3.62M $3.175M

Revenue by Products

Product Q1-2021Q1-2025Q2-2025Q3-2025
FixedPrice Contract
FixedPrice Contract
 $0 ▲$0 ▲$0 ▲$0 ▲
Management Service
Management Service
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown at a steady pace over the past five years, roughly doubling from the early part of the period. Profitability has been consistently positive, with gross profit, operating income, and net income all moving upward along with revenue. Earnings per share have been solid overall, though a bit uneven year to year, which is normal for a project‑driven real estate business. Overall, the income statement suggests a company that has successfully scaled a fee‑based model and is now in a stable, profitable phase rather than a turnaround story.

Balance Sheet

Balance Sheet The balance sheet looks progressively stronger over time. Total assets and shareholders’ equity have grown steadily, showing that the business is building value rather than depleting it. Cash levels have increased meaningfully, giving the company more financial flexibility. Debt has stayed low and relatively flat, which fits with management’s asset‑light, debt‑averse strategy. In simple terms, the company appears to be better capitalized and less financially risky than it was several years ago.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive over the last several years, and free cash flow has closely tracked operating cash flow, since capital spending needs appear modest. This is typical of an asset‑light, management‑fee‑driven model and reduces reliance on borrowing or new capital. The pattern suggests that profits are largely backed by real cash, not just accounting earnings, which is a positive sign for sustainability.

Competitive Edge

Competitive Edge Comstock has carved out a focused niche in transit‑oriented, mixed‑use developments in the Washington, D.C. area, particularly along the Dulles Corridor. Its strength comes less from owning a large property portfolio and more from controlling and managing high‑profile projects like Reston Station and Loudoun Station under long‑term agreements. The integrated service model—from development through ongoing management—creates deep relationships with institutional and public partners and can be hard for more narrowly focused competitors to replicate. The regional concentration is both a strength, through deep local expertise, and a risk, because performance is tied heavily to one market and a few large anchor projects.

Innovation and R&D

Innovation and R&D Although this is not a traditional R&D‑heavy business, Comstock’s innovation is in its business model and project design rather than in laboratories or patents. Its “placemaking” approach focuses on building walkable, transit‑linked communities that blend living, working, and retail, which can command premium tenant interest if executed well. The expansion of service platforms like ParkX, which has grown from parking management into broader facility services, shows a push toward recurring, fee‑based revenue streams. The company is also leaning into ESG‑aligned development and public‑private partnerships, which can differentiate it in winning and operating major projects, even if the innovation is more strategic than technological.

Summary

Overall, Comstock looks like a real estate operator that has successfully reinvented itself from a traditional, capital‑intensive homebuilder into an asset‑light, fee‑driven platform. Revenue and profits have grown steadily, backed by improving cash flow and a stronger, less leveraged balance sheet. Its fortunes are closely tied to a concentrated set of large, transit‑oriented projects in the Washington, D.C. region, which creates both attractive upside and geographic concentration risk. The company’s edge appears to lie in integrated services, long‑term management contracts, and a differentiated approach to mixed‑use, transit‑centric development rather than in hard technology. Future performance will depend heavily on continued leasing success, execution of its development pipeline, and the resilience of demand in its core corridor.

NEWS

November 17, 2025 · 7:35 AM UTC

Comstock Announces Booz Allen in Landmark Reston Station Lease

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November 13, 2025 · 9:01 AM UTC

Comstock Reports Third Quarter 2025 Results

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October 8, 2025 · 2:00 PM UTC

Comstock Welcomes D1 Training to Loudoun Station

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September 24, 2025 · 9:30 AM UTC

Comstock Enters into Purchase Agreement for Rockville Multifamily Property

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September 19, 2025 · 12:00 PM UTC

Comstock CEO Recognized as 50 Most Influential of 2025

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