Millrose Properties, Inc. Financials
This page shows Millrose Properties, Inc. (MRP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
For every $1 of reported earnings, Millrose Properties, Inc. generates $9.67 in operating cash flow ($3.7B OCF vs $379.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Millrose Properties, Inc. earns $33.8 in operating income for every $1 of interest expense ($486.1M vs $14.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Millrose Properties, Inc. generated $600.5M in revenue in fiscal year 2025.
Millrose Properties, Inc. reported $379.9M in net income in fiscal year 2025.
Millrose Properties, Inc. earned $2.44 per diluted share (EPS) in fiscal year 2025.
Millrose Properties, Inc. held $35.0M in cash against $0 in long-term debt as of fiscal year 2025.
Millrose Properties, Inc. paid $2.55 per share in dividends in fiscal year 2025.
Millrose Properties, Inc. had 154M shares outstanding in fiscal year 2025.
Millrose Properties, Inc.'s operating margin was 81.0% in fiscal year 2025, reflecting core business profitability.
Millrose Properties, Inc.'s net profit margin was 63.3% in fiscal year 2025, showing the share of revenue converted to profit.
Millrose Properties, Inc.'s ROE was 6.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
MRP Income Statement
| Metric | Q3'26 | Q2'26 | Q1'25 | Q3'25 | Q3'25 | Q2'25 | Q1'24 |
|---|---|---|---|---|---|---|---|
| Revenue | $179.3M+20.3% | $149.0M+80.2% | $82.7M | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | $63.7M+6.5% | $59.8M+5.1% | $56.9M |
| Operating Income | $152.8M+20.5% | $126.9M+178.0% | $45.6M | N/A | -$63.7M-6.5% | -$59.8M-4.9% | -$57.0M |
| Interest Expense | $43.7M+325.4% | $10.3M+305.6% | $2.5M | N/A | N/A | N/A | N/A |
| Income Tax | $5.9M+22.9% | $4.8M+8.9% | $4.4M | N/A | $0 | $0 | $0 |
| Net Income | $105.1M-6.8% | $112.8M+183.3% | $39.8M | N/A | -$63.7M-6.5% | -$59.8M-4.9% | -$57.0M |
| EPS (Diluted) | $0.63-7.4% | $0.68+74.4% | $0.39 | N/A | N/A | N/A | N/A |
MRP Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'25 | Q3'25 | Q3'25 | Q2'25 | Q1'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $9.0B+13.2% | $8.0B+11.5% | $7.2B+30.9% | $5.5B | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $242.6M+264.4% | $66.6M-25.6% | $89.5M | $0 | N/A | N/A | N/A |
| Inventory | $8.4B+6.6% | $7.8B+12.1% | $7.0B+28.1% | $5.5B | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.2B+50.8% | $2.1B+64.5% | $1.3B+315.9% | $306.9M | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $5.9B-0.3% | $5.9B0.0% | $5.9B+13.9% | $5.2B+27.6% | $4.0B+7.3% | $3.8B-11.2% | $4.2B |
| Retained Earnings | N/A | -$98K-105.8% | $1.7M | N/A | N/A | N/A | N/A |
MRP Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'25 | Q3'25 | Q3'25 | Q2'25 | Q1'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $123.1M+12.9% | $109.1M+412.5% | $21.3M | N/A | -$339.7M-181.4% | $417.5M+129.0% | $182.4M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$775.1M-6.6% | -$726.8M-19.9% | -$606.2M | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $827.9M+39.2% | $594.7M-11.8% | $674.4M | N/A | $339.7M+181.4% | -$417.5M-129.0% | -$182.4M |
| Dividends Paid | $121.2M+5.8% | $114.5M+81.6% | $63.1M | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MRP Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'25 | Q3'25 | Q3'25 | Q2'25 | Q1'24 |
|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 85.3%+0.1pp | 85.1%+30.0pp | 55.2% | N/A | N/A | N/A | N/A |
| Net Margin | 58.6%-17.1pp | 75.7%+27.6pp | 48.1% | N/A | N/A | N/A | N/A |
| Return on Equity | 1.8%-0.1pp | 1.9%+1.2pp | 0.7% | N/A | N/A | N/A | N/A |
| Return on Assets | 1.2%-0.3pp | 1.4%+0.9pp | 0.6% | N/A | N/A | N/A | N/A |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.54+0.2 | 0.36+0.1 | 0.22+0.2 | 0.06 | N/A | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Millrose Properties, Inc.'s annual revenue?
Millrose Properties, Inc. (MRP) reported $600.5M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Millrose Properties, Inc. profitable?
Yes, Millrose Properties, Inc. (MRP) reported a net income of $379.9M in fiscal year 2025, with a net profit margin of 63.3%.
What is Millrose Properties, Inc.'s earnings per share (EPS)?
Millrose Properties, Inc. (MRP) reported diluted earnings per share of $2.44 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Millrose Properties, Inc.'s operating margin?
Millrose Properties, Inc. (MRP) had an operating margin of 81.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Millrose Properties, Inc.'s net profit margin?
Millrose Properties, Inc. (MRP) had a net profit margin of 63.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Millrose Properties, Inc. pay dividends?
Yes, Millrose Properties, Inc. (MRP) paid $2.55 per share in dividends during fiscal year 2025.
What is Millrose Properties, Inc.'s return on equity (ROE)?
Millrose Properties, Inc. (MRP) has a return on equity of 6.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Millrose Properties, Inc.'s operating cash flow?
Millrose Properties, Inc. (MRP) generated $3.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Millrose Properties, Inc.'s total assets?
Millrose Properties, Inc. (MRP) had $9.3B in total assets as of fiscal year 2025, including both current and long-term assets.
How many shares does Millrose Properties, Inc. have outstanding?
Millrose Properties, Inc. (MRP) had 154M shares outstanding as of fiscal year 2025.
What is Millrose Properties, Inc.'s debt-to-equity ratio?
Millrose Properties, Inc. (MRP) had a debt-to-equity ratio of 0.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Millrose Properties, Inc.'s return on assets (ROA)?
Millrose Properties, Inc. (MRP) had a return on assets of 4.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Are Millrose Properties, Inc.'s earnings high quality?
Millrose Properties, Inc. (MRP) has an earnings quality ratio of 9.67x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Millrose Properties, Inc. cover its interest payments?
Millrose Properties, Inc. (MRP) has an interest coverage ratio of 33.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.