JOHN HANCOCK PREFERRED INCOME FUND III (HPS)
The John Hancock Preferred Income Fund III (HPS) functions as a closed-end investment vehicle, primarily focused on fixed-income securities. Its overall management falls under John Hancock Investment Management LLC, with additional co-management provided by John Hancock Asset Management. The fund strategically allocates capital within the United States' fixed-income markets, aiming to acquire debt instruments from companies operating across a diverse array of sectors. A significant portion of its portfolio is dedicated to preferred securities and other fixed-income instruments that possess an investment-grade credit rating or higher from either Moody's or Standard & Poor's. To assess its performance, the fund measures itself against both the Bank of America Merrill Lynch Hybrid Preferred Securities Index and the Barclays U.S. Aggregate Bond Index. This U.S.-domiciled fund was originally established on June 19, 2003.
Industry: Asset Management - Income
John Hancock Preferred Income Fund III
NYSE:HPSFinancial Services · Asset Management - Income
+0.69%$11.74
AH Close$11.74+0.00%vs close
AH$11.74+0.00%vs close
Mkt Cap$377.66M
Float32.13M
O/S32.17M
Inst Own13.7%
Div Yield11.24%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$56.51M
Net Income$17.71M
Total Assets$712.61M
Free Cash Flow$33.63M
Debt & Equity
Debt 39%
Equity 61%
Total Debt$274.3M
Total Equity$435.72M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in HPS's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$712.61M
Liabilities$276.89M
Accounts Receivable$6.48M
Accounts Payable$1.39M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | 2020-07-31 | 2019-07-31 | 2018-07-31 | 2017-07-31 | 2016-07-31 | 2015-07-31 | 2014-07-31 | 2013-07-31 |
| Revenue | $56.51M | $46.31M | $51.81M | -$30.21M | -$33.52M | $109.76M | -$37.5M | $44.2M | $25.45M | $30.77M | $53.75M | $55.59M | $55.93M | $57.32M |
| YoY Growth | 22.0% | -10.6% | -271.5% | -9.9% | -130.5% | -392.7% | -184.8% | 73.7% | -17.3% | -42.7% | -3.3% | -0.6% | -2.4% | - |
| Cost of Revenue | $5.63M | $5.69M | $16.92M | $5.61M | $3.35M | $6.24M | $6.45M | $6.81M | $6.83M | $6.95M | $6.93M | $0 | $0 | $0 |
| Gross Profit | $50.88M | $40.62M | $51.81M | -$35.82M | -$33.52M | $103.52M | -$43.96M | $37.39M | $18.62M | $23.82M | $46.81M | $55.59M | $55.93M | $57.32M |
| Gross Margin | 90.0% | 87.7% | 100.0% | 118.6% | 100.0% | 94.3% | 117.2% | 84.6% | 73.2% | 77.4% | 87.1% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | -$2 | $0 | $2 | -$1 | $1 | $0 | $0 | $1 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $5.92M | $402K | $454K | $414K | $548K | $479K | $550K | $572K | $639K | $1 | $7.33M | $7.1M | $7.39M |
| Other | $20.5M | $0 | $0 | $31.9M | $34K | -$41K | -$32K | $25K | $404K | $660K | $31.57M | $0 | $0 | $0 |
| Total Operating Expenses | $20.5M | $5.92M | $561K | $540K | $449K | $507K | $447K | $575K | $976K | $1.3M | $26.97M | $3.29M | $18.2M | $39.94M |
| Operating Income (EBIT) | $30.38M | $53.7M | $46.09M | -$30.75M | -$30.61M | $109.26M | -$37.95M | $43.63M | $31.75M | $34.21M | $47.73M | $48.26M | $48.83M | $49.93M |
| Operating Margin | 53.8% | 116.0% | 89.0% | 101.8% | 91.3% | 99.5% | 101.2% | 98.7% | 124.8% | 111.2% | 88.8% | 86.8% | 87.3% | 87.1% |
| Interest Expense | $12.67M | $0 | $16.92M | $13.75M | $3.35M | $2.18M | $5.93M | $9.63M | $7.28M | $4.74M | $0 | $0 | $0 | $0 |
| Interest Income | $49.92M | -$13.57M | $21.36M | $19.36M | $13.84M | $9.63M | $8.75M | $7.74M | $2.06M | $920K | $3.7M | $4.28M | $3.75M | $1.96M |
| Other Income (Expense) | -$12.67M | -$14.77M | $19.45M | $5.61M | $0 | $0 | $6.45M | $0 | -$24.8M | -$20.42M | $30.68M | $6.34M | $21.55M | -$34.51M |
| Income Before Tax (EBT) | $17.71M | $38.93M | $65.54M | -$30.75M | -$33.96M | $109.26M | -$37.95M | $43.63M | $24.47M | $29.47M | $78.41M | $54.6M | $70.38M | $15.42M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$161K | $34.21M | $0 | $0 | $0 | $0 |
| Net Income | $17.71M | $38.93M | $65.54M | -$30.75M | -$33.96M | $109.26M | -$37.95M | $43.63M | $24.47M | $29.47M | $81.73M | $54.6M | $70.38M | $15.42M |
| Net Income Margin | 31.3% | 84.1% | 126.5% | 101.8% | 101.3% | 99.5% | 101.2% | 98.7% | 96.2% | 95.8% | 152.1% | 98.2% | 125.8% | 26.9% |
| Supplementary Data | ||||||||||||||
| EPS | 0.55 | 1.21 | 2.05 | -0.96 | -1.07 | 3.44 | -1.20 | 1.38 | 0.78 | 0.94 | 2.59 | 1.73 | 2.23 | 0.49 |
| Diluted EPS | 0.55 | 1.21 | 2.05 | -0.96 | -1.07 | 3.44 | -1.20 | 1.38 | 0.78 | 0.94 | 2.59 | 1.73 | 2.23 | 0.49 |
| Weighted Average OS | 32.20M | 32.11M | 31.97M | 31.90M | 31.76M | 31.73M | 31.63M | 31.62M | 31.38M | 31.35M | 31.57M | 31.56M | 31.56M | 31.56M |
| EBITDA | $30.38M | $53.7M | $46.09M | -$53.36M | -$64.58M | $111.44M | -$76.42M | $43.63M | $49.27M | $49.89M | $47.73M | $48.26M | $48.83M | $0 |
| EBITDA Margin | 53.8% | 116.0% | 89.0% | 176.6% | 192.7% | 101.5% | 203.8% | 98.7% | 193.6% | 162.1% | 88.8% | 86.8% | 87.3% | - |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | 2020-07-31 | 2019-07-31 | 2018-07-31 | 2017-07-31 | 2016-07-31 | 2015-07-31 | 2014-07-31 | 2013-07-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $225K | $0 | $362K | $0 | $257K | $102K | $108K | $0 | $480 | $157 | $861 | $507 | $156 | $919K |
| Short-Term Investments | $2.22M | $2.78M | $0 | $2.85M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $594K | $729K |
| Cash and Short-Term Investments | $2.44M | $2.78M | $362K | $2.85M | $257K | $102K | $108K | $0 | $480 | $157 | $861 | $507 | $594K | $1.65M |
| Accounts Receivable | $6.48M | $7.24M | $12M | $12.48M | $7.12M | $11.07M | $4.52M | $8.08M | $3.3M | $6.42M | $2.36M | $2M | $1.35M | $1.43M |
| Inventory | $0 | $0 | $0 | -$6.48M | $0 | $0 | $5.3M | $0 | $6.23M | $15.84M | $0 | $0 | -$594K | -$729K |
| Other Current Assets | $141K | $1.41M | $5.32M | $3.63M | $1.17M | $1.62M | $2.18M | $1.5M | $1.79M | $1.84M | $3.76M | $11.38M | $3.94M | $2.3M |
| Total Current Assets | $9.06M | $11.43M | $17.68M | $12.48M | $7.39M | $11.17M | $4.63M | $8.08M | $5.39M | $8.06M | $6.13M | $13.38M | $5.88M | $4.66M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $703.52M | $67.8M | $63.06M | $701.64M | $780.61M | $840.14M | $760.08M | $899.04M | $900.57M | $919.95M | $447.23M | $391.12M | $405.94M | $621.59M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $34K | $655.17M | $658.79M | -$701.64M | -$780.61M | -$840.14M | -$760.08M | -$899.04M | -$900.57M | -$919.95M | $494.09M | $508.28M | $492.15M | $254.43M |
| Total Long-Term Assets | $703.55M | $722.97M | $721.84M | $701.64M | $780.61M | $840.14M | $760.08M | $899.04M | $900.57M | $919.95M | $941.32M | $899.39M | $898.09M | $876.03M |
| Other Assets | $0 | $734.4M | -$2.56M | $912K | $1.22M | $1.23M | $1.42M | $854K | $788K | $782K | $0 | $0 | $0 | $0 |
| Total Assets | $712.61M | $734.4M | $736.96M | $715.03M | $789.22M | $852.54M | $766.12M | $907.97M | $906.75M | $928.79M | $947.45M | $912.77M | $903.97M | $880.68M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $1.39M | $0 | $642K | $1.38M | $6.8M | $4.07M | $189K | $4.07M | $2M | $2.33M | $3.62M | $445K | $0 | $379K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14K | $0 | $0 | $465K | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.99M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | -$4.84M | -$6.92M | -$4.45M | -$255K | -$4.22M | -$2.17M | -$2.46M | $329K | $404K | $0 | $50K |
| Total Current Liabilities | $2.45M | $1.22M | $642K | $1.38M | $7.57M | $4.43M | $189K | $5.01M | $2.12M | $2.43M | $4.51M | $875K | $44K | $429K |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $274.3M | $274.3M | $274.3M | $274.3M | $274.3M | $266M | $252M | $309.5M | $309.5M | $309.5M | $309.5M | $310.65M | $311.02M | $311.43M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $2.59M | $141K | $138K | -$274.3M | $162K | -$266M | -$252M | -$309.5M | -$309.5M | -$309.5M | $100K | $122K | $102K | $111K |
| Total Long-Term Liabilities | $276.89M | $274.44M | $274.44M | $274.3M | $7.57M | $266M | $252M | $309.5M | $309.5M | $309.5M | $309.6M | $310.77M | $311.12M | $311.54M |
| Other Liabilities | $0 | $274.44M | $1.45M | $3.59M | $267M | $399K | $183K | $281K | $267K | $173K | $0 | $0 | $0 | $0 |
| Total Liabilities | $276.89M | $275.66M | $276.53M | $279.27M | $282.15M | $270.83M | $252.37M | $314.79M | $311.89M | $312.1M | $314.11M | $311.65M | $311.16M | $311.97M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $552.33M | $560.66M | $567.87M | $574.61M | $580.31M | $582.3M | $585.14M | $586.77M | $599.35M | $663.73M | $705.85M | $740.06M | $740.06M | $740.06M |
| Retained Earnings | -$116.61M | -$101.91M | -$107.44M | -$138.86M | -$73.23M | -$591K | -$71.39M | $6.41M | -$109K | -$47.05M | -$72.51M | -$138.93M | -$147.24M | -$171.34M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$4.38M | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $435.72M | $458.75M | $460.44M | $435.75M | $507.07M | $581.71M | $513.75M | $593.18M | $594.86M | $616.69M | $633.34M | $601.13M | $592.81M | $568.72M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $712.61M | $734.4M | $736.96M | $715.03M | $789.22M | $852.54M | $766.12M | $907.97M | $906.75M | $928.79M | $947.45M | $912.77M | $903.97M | $880.68M |
| Supplementary Data | ||||||||||||||
| Total Debt | $274.3M | $274.3M | $274.3M | $274.3M | $274.3M | $266M | $252M | $309.5M | $309.5M | $309.5M | $309.97M | $310.65M | $311.02M | $311.43M |
| Net Debt | $274.08M | $274.3M | $273.94M | $274.3M | $274.04M | $265.9M | $251.89M | $309.5M | $309.5M | $309.5M | $309.96M | $310.65M | $311.02M | $310.51M |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-07-31 | 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | 2020-07-31 | 2019-07-31 | 2018-07-31 | 2017-07-31 | 2016-07-31 | 2015-07-31 | 2014-07-31 | 2013-07-31 |
| Operating Activities | ||||||||||||||
| Net Income | $17.71M | $38.93M | $65.54M | -$30.75M | -$33.96M | $109.26M | -$37.95M | $43.63M | $24.47M | $29.47M | $78.41M | $54.6M | $70.38M | $15.42M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $675K | $3.49M | $477K | -$1.73M | $3.49M | -$6.91M | $3.56M | -$2.69M | $2.6M | -$5.58M | -$367K | -$645K | $83K | $971K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $75K | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | -$642K | $642K | -$6.92M | $2.67M | $4.25M | -$4.26M | $2.16M | -$287K | -$1.26M | -$74K | $0 | $0 | $0 |
| Other Working Capital | $1.5M | -$160K | $914K | -$9.61M | $3.47M | $5.01M | -$1.21M | $661K | $138K | -$183K | $3.12M | $537K | -$1.2M | $20K |
| Total Working Capital Change | $2.18M | $2.69M | $2.03M | -$11.34M | $6.96M | -$1.9M | -$1.91M | $201K | $2.38M | -$7.06M | $2.68M | -$108K | -$1.12M | $991K |
| Other Non-Cash Items | $13.74M | -$6.99M | -$22.93M | $78.98M | $59.53M | -$80.06M | $138.96M | $1.46M | $19.45M | $23.72M | -$36.1M | -$8.21M | -$23.9M | $14M |
| Net Cash from Operating | $33.63M | $34.63M | $44.64M | $36.89M | $32.53M | $27.29M | $99.1M | $45.29M | $46.3M | $46.13M | $44.54M | $46.29M | $45.37M | $30.41M |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$236.43M | -$255.03M | -$233.49M | -$207.83M | -$192.99M | -$245.81M | -$279.23M | -$314.66M | -$216.33M | -$187.31M | -$138.05M | $0 | $0 | $0 |
| Sales of Investments | $243.21M | $260.81M | $244.06M | $212.61M | $161.82M | $244.34M | $351.17M | $326.48M | $204.79M | $192.87M | $137.75M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $6.78M | $5.79M | $10.58M | $4.78M | -$31.17M | -$1.47M | $71.94M | $11.82M | -$11.54M | $5.56M | -$296K | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | - | - | - | - | -$8.3M | -$14M | $57.5M | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | -$40.62M | -$40.85M | -$40.57M | -$40.67M | -$41.3M | -$41.48M | -$45.31M | -$46.3M | -$46.13M | -$46.2M | -$46.29M | -$46.29M | -$46.25M |
| Other Financing Activities | -$16K | -$139K | -$3.43M | $3.43M | $1 | $0 | -$14K | $14K | $0 | $0 | $0 | $0 | $0 | $16.5M |
| Net Cash from Financing | -$40.75M | -$40.76M | -$44.28M | -$37.15M | -$32.37M | -$27.3M | -$98.99M | -$45.29M | -$46.3M | -$46.13M | -$46.2M | -$46.29M | -$46.29M | -$29.76M |
| Forex Effect | $568K | -$19K | $0 | $0 | $0 | $0 | -$71.94M | -$11.82M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $225K | -$362K | $362K | $4.52M | $154K | -$5K | $108K | -$480 | $323 | -$704 | $354 | $351 | -$919K | $655K |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $33.63M | $34.63M | $44.64M | $36.89M | $32.53M | $27.29M | $99.1M | $45.29M | $46.3M | $46.13M | $44.54M | $46.29M | $45.37M | $30.41M |
| Capital Expenditure | $0 | $0 | -$2 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $33.63M | $34.63M | $44.64M | $36.89M | $32.53M | $27.29M | $99.1M | $45.29M | $46.3M | $46.13M | $44.54M | $46.29M | $45.37M | $30.41M |
| Cash at Beginning | $0 | $362K | $0 | $257K | $102K | $108K | $0 | $480 | $157 | $861 | $507 | $156 | $919K | $264K |
| Cash at End | $225K | $0 | $362K | $4.78M | $257K | $102K | $108K | $0 | $480 | $157 | $861 | $507 | $156 | $919K |