SequelSEC

Millrose Properties, Inc. MRP

Real Estate · CIK 0002017206 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$600.46M
Fiscal year ended 2025-12-31
Operating income
$486.07M
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$3.79BMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float / net income10.0×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue6.3×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity0.6×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Real Estate filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Operating margin80.9%100th
SBC / revenue0.1%6th
Net margin63.3%88th
Effective tax rate5.1%45th

Millrose Properties, Inc. (MRP) reported revenue of $600.46M and net income of $379.86M for the fiscal year ended 2025-12-31. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from Millrose Properties, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate.

Income

Millrose Properties, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-31
Revenue$600.46M
Cost of revenueUnavailable
Gross profitUnavailable
Operating income$486.07M
Net income$379.86M
Research & developmentUnavailable
Weighted-average diluted sharesshares 166.03M
Pretax income$400.37M
Income tax expense$20.51M
Diluted EPS$2.44
Selling, general & administrative$25.00M
General & administrativeUnavailable
Selling & marketingUnavailable

Balance

Millrose Properties, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-31
Cash & equivalents$35.05M
Total assets$9.26B
Current assetsUnavailable
Total liabilities$3.40B
Current liabilitiesUnavailable
Total equity incl. NCI$5.86B
Temporary (mezzanine) equityUnavailable
InventoryUnavailable
Accounts receivableUnavailable
GoodwillUnavailable
Long-term debtUnavailable
Accounts payableUnavailable

Cash flow

Millrose Properties, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-31
Operating cash flow$3.67B
Capital expendituresUnavailable
Investing cash flow-$5.72B
Financing cash flow$2.08B
Net change in cash$35.05M
Stock-based compensation$677.00K
Common dividends paid$298.81M
Common share repurchasesUnavailable
Depreciation & amortizationUnavailable

Derived

Millrose Properties, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-31
Free cash flowUnavailable
Gross marginUnavailable
Operating margin80.9%
FCF marginUnavailable
SBC / revenue0.1%
Current ratioUnavailable
Revenue YoY growthUnavailable
Net margin63.3%
R&D / revenueUnavailable
CapEx / revenueUnavailable
Long-term debt / equityUnavailable
Effective tax rate5.1%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MRP in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-04View SEC filing
10-Q · Filed 2026-05-06View SEC filing
10-K · Filed 2026-03-02View SEC filing
10-Q · Filed 2025-10-23View SEC filing
10-Q · Filed 2025-07-31View SEC filing
10-Q · Filed 2025-05-14View SEC filing

Companies in the same industry

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.