Millrose Properties, Inc. (MRP)
Millrose Properties, Inc. is the premier permanent capital solution for residential homebuilders and developers. The company specializes in the acquisition, financing and development of residential land through long-term, capital-efficient structures. The company also provides homebuilders with a predictable, just-in-time supply of finished homesites the scarcest and mission-critical resource in the homebuilding industry. Millrose utilizes a proprietary technology platform that provides real-time feedback and data analytics to drive acquisition decisions. Every transaction in the Millrose portfolio undergoes rigorous independent due diligence to ensure attractive yields and long-term viability. By enabling an asset-light model, Millrose provides its diverse roster of homebuilder partners with the strategic flexibility to maintain production volumes and optimize balance sheet efficiency across all market environments. Millrose Properties, Inc.is based in Miami, United States.
- Symbol
- MRP
- Exchange
- NYSE
- Sector
- Real Estate
- Industry
- REIT - Residential
- Market cap
- $4.59B
- 52 week range
- 26.3 - 35.1
Valuation
- Share price
- $26.81 (close of 2026-09-23)
- P/E (TTM)
- 9.63x
- Price to book
- 0.78x
- Price to free cash flow
- 1.22x
- Enterprise value
- $7.03B
- Book value per share
- $35.24
Price performance
| Period | Change |
|---|
| 1 day | -6.52% |
| 5 days | -8.93% |
| 1 month | -11.78% |
| 3 months | -7.52% |
| 6 months | -6.36% |
| Year to date | -10.24% |
| 1 year | -22.54% |
| All time | +22.20% |
Profitability and growth
- Return on equity
- 6.49%
- Return on invested capital
- 5.87%
- Return on assets
- 4.10%
- Gross margin
- 85.11%
- Net margin
- 63.26%
- EBITDA margin
- 80.95%
- Net income growth
- 254.28%
- Free cash flow growth
- 500.44%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 81.65%
- Net debt to EBITDA
- 3.75x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $600.46M
- Cost of revenue
- $89.39M
- Gross profit
- $511.07M
- EBITDA
- $486.07M
- Net income
- $379.86M
- Earnings per share
- $2.44
- Shares outstanding
- 166.00M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $600.46M | $511.07M | $379.86M | $2.44 |
| 2024-12-31 | - | - | $-246.22M | $-1.48 |
| 2023-12-31 | - | - | $-209.79M | $-1.55 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 85.11% | 63.26% | 6.49% | 5.87% |
| 2024-12-31 | - | - | -4.77% | -4.75% |
| 2023-12-31 | - | - | -4.70% | -4.70% |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $35.05M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $3.67B | $677.00K |
| 2024-12-31 | $-917.19M | $14.94M |
| 2023-12-31 | $-865.12M | $10.09M |
Dividend history
- Most recent payment
- 2026-07-06
- Paid in the last twelve months
- $3.01
| Payment date | Dividend per share |
|---|
| 2026-07-06 | $0.77 |
| 2026-04-02 | $0.76 |
| 2026-01-05 | $0.75 |
| 2025-10-03 | $0.73 |
| 2025-07-03 | $0.69 |
| 2025-04-04 | $0.38 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-22
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-04 | Jun/2026 | - |
| 2026-05-06 | - | - |
| 2026-02-26 | - | - |
| 2025-10-23 | - | - |
| 2025-07-31 | - | - |
| 2025-05-14 | - | - |
Filings and sources
- Company website
- millroseproperties.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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