This work is concerned with the gradient flow of absolutely p-homogeneous convex functionals on a Hilbert space, which we show to exhibit finite (p < 2) or infinite extinction time (p ≥ 2). We give upper bounds for the finite extinction time and establish convergence rates of the flow. Moreover, we study next order asymptotics and prove that asymptotic profiles of the solution are eigenfunctions of the subdifferential operator of the functional. To this end, we compare with solutions of an ordinary differential equation which describes the evolution of eigenfunction under the flow. Our work applies, for instance, to local and nonlocal versions of PDEs like p-Laplacian evolution equations, the porous medium equation, and fast diffusion equations, herewith generalizing many results from the literature to an abstract setting.We also demonstrate how our theory extends to general homogeneous evolution equations which are not necessarily a gradient flow. Here we discover an interesting integrability condition which characterizes whether or not asymptotic profiles are eigenfunctions.These equations can also be studied as a fourth order gradient flow in H −1 , i.e.,Another class of examples are the fast diffusion equations for 1 < p < 2, the linear heat equation for p = 2, and the porous medium equation for p > 2, i.e.which, complemented with suitable boundary conditions, can also be interpreted as Hilbert space gradient flows (cf. [29] for the porous medium / fast diffusion case). Furthermore, as long as homogeneity is preserved, our general model covers non-local versions of the equations above, as well. Remarkably, we can also address an eigenvalue problem of the ∞-Laplacian operator [24,31] with our framework by regarding it from an purely energetic point of view. That means we set J(u) = ∇u ∞ for u ∈ W 1,∞ ∩ L 2 and J(u) = ∞ else, which meets all our assumptions under sufficient regularity of the domain, and interpret the ∞-Laplacian as L 2 -subdifferential operator of J.The main objective of this work is to prove that asymptotic profiles of the gradient flow (GF) are eigenfunctions of the subdifferential operator ∂J. By an asymptotic profile we refer to a suitably rescaled version of the actual solution u(t) of the gradient flow. More precisely, we look for a rescaling a(t) such that u(t)/a(t) converges to some w * as t tends to the extinction time of the flow (respectively t → ∞). Here w * is an eigenfunction of ∂J, meaning that λw * ∈ ∂J(w * ) for some λ ∈ R and by "extinction time" we refer to the (finite or infinite) time where the solution of the gradient flow stops changing, meaning ∂ t u(t) = 0 (respectively the minimal time such that that J(u(t)) = 0).The rescaling is chosen in such a way that it amplifies the shape of u(t) immediately before it reaches the state of lowest energy as described by the functional J. Furthermore, it should be noted that eigenfunctions of ∂J are self-similar in the sense that they only shrink under the gradient flow (GF) without changing their shape.If the energy is a quadratic ...