Millrose Properties MRP

Real Estate - Services, Real Estate

$23.86

−0.46%

Market cap: $4B
PE: 8.3×
Forward PE: n/m; not a meaningful number
Price to sales: 5.2×
EV/EBIT: 9.9×
Revenue, 12 months: $760.5M
Net margin: 62.6%
Free cash flow yield: n/m; not a meaningful number

Millrose Properties trades at 8.3× trailing earnings. Revenue was $760.5M over the last twelve months with a 63% net margin.

Charts

Financials

Income statement for MRP, by quarter
Income statement	Q1 FY24	Q3 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
	n/a	n/a	$82.7M	$149M	$179.3M	$189.5M	$194.9M+136%	$196.9M+32%
SG&A	$57M	$63.7M	$25M	$0	$0	$0	n/a	n/a
	−$57M	−$63.7M	$45.6M	$126.9M	$152.8M	$160.7M	$166.1M+264%	$167.6M+32%
Interest expense	n/a	n/a	$2.5M	$10.3M	$43.7M	$35.2M	$39.2M+1446%	$40M+289%
Pre-tax income	−$57M	−$63.7M	$44.2M	$117.5M	$110.9M	$127.7M	$127.9M+190%	$128.3M+9%
	$0	$0	$4.4M	$4.8M	$5.9M	$5.5M	$5M+15%	$2.5M−49%
Net income	−$57M	−$63.7M	$39.8M	$112.8M	$105.1M	$122.2M	$122.9M+209%	$125.9M+12%
	n/a	n/a	$0.39	$0.68	$0.63	$0.74	$0.74+90%	$0.76+12%
	n/a	n/a	166M	166M	166M	166M	166M+0%	166.1M+0%

EPS, diluted: Q4 FY25: quarter's net income to common over its shares, to the cent.

Diluted shares: Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Real Estate - Services nearest Millrose Properties' size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
MRPMillrose Properties	$4B	8.3×	10.4×	5.2×	n/m	62.6%
CURBCurbline Properties	$3.5B	120×	81.5×	14.2×	+51%	11.1%
CWKCushman & Wakefield	$2.8B	40.8×	20.4×	0.3×	+11%	0.6%
UEUrban Edge Properties	$2.4B	35.8×	24.8×	4.9×	+7%	13.7%
TRNOTerreno Realty	$7.1B	17.5×	38.4×	14.1×	+18%	77.3%
COMPCompass	$7.4B	163×	185×	0.7×	+68%	0.6%
NMRKNewmark	$2.1B	16.2×	14.7×	0.6×	+21%	4.1%
GTYGetty Realty	$1.9B	17.1×	22.3×	7.8×	+12%	42.4%
IIPRInnovative Industrial Properties	$1.5B	12.2×	23.1×	5.7×	−8%	52.3%
FORForestar	$1.3B	7.8×	9.4×	0.8×	+12%	9.9%
JLLJones Lang Lasalle	$13.8B	14.4×	18.2×	0.5×	+11%	3.6%
Peer median	$2.6B	17.3×	22.7×	2.9×	+12%	10.5%