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Friday 6 November 2026
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Millrose Properties, Inc.
MRP Real Estate Reit Residential
Millrose Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $600.5 million.
- Revenue
- +17.7%
- EPS
- +24.3%
- Free cash flow
- +61.3%
- Total debt
- +45.4%
Quarter to September 2026, against a year earlier
26.03
0.47
−1.77%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | — | 600 | 792 | — | 830 | 921 | 898 | +14.3% | |
| Gross margin, % | — | — | — | — | — | — | — | — | — | 85.39 | 85.34 | — | ||||||
| EBT | — | — | — | — | — | — | — | (210) | (246) | 400 | 519 | n/m | ||||||
| EBT margin, % | — | — | — | — | — | — | — | 0.00 | 0.00 | 66.68 | 65.49 | +66.7 pt | ||||||
| Net income | — | — | — | — | — | — | — | (210) | (246) | 380 | 476 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | — | — | 3.62 | 4.77 | — | |||||
| Earnings | — | — | — | — | — | — | — | — | — | 2.44 | 3.02 | — | ||||||
| Cash flow | — | — | — | — | — | — | — | 0.00 | 0.00 | 22.13 | 0.00 | n/m | ||||||
| Capex | — | — | — | — | — | — | — | — | — | (31.02) | 0.00 | — | ||||||
| Free cash flow | — | — | — | — | — | — | — | 0.00 | 0.00 | (8.89) | 0.00 | n/m | ||||||
| Book value | — | — | — | — | — | — | — | 0.00 | 0.00 | 35.28 | 35.24 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | — | — | 166 | 166 | — | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | 12.24 | 8.73 | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | 8.26 | 5.53 | — | ||||||
| P/B | — | — | — | — | — | — | — | — | — | 0.85 | 0.75 | — | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | — | 13.26 | 10.67 | — | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | — | (5.39) | (6.82) | — | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | (865) | (917) | 3,673 | 3,746 | n/m | |||||
| Capex | — | — | — | — | — | — | — | — | — | (5,149) | (4,985) | — | ||||||
| Free cash flow | — | — | — | — | — | — | — | (865) | (917) | (1,477) | (1,239) | +30.6% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | (253) | (283) | (563) | (886) | +49.3% | |||||
| Net debt | — | — | — | — | — | — | — | 33 | 24 | 3,004 | 4,066 | +859.8% | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | 4,459 | 5,158 | 5,856 | 5,851 | +14.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | (4.82) | 5.50 | 5.12 | +5.5 pt | |||||
| ROIC | — | — | — | — | — | — | — | (2.92) | (2.97) | 3.43 | 4.25 | +6.4 pt | ||||||
| ROE | — | — | — | — | — | — | — | 0.00 | (5.12) | 7.35 | 8.56 | +7.4 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | — | — | 0.00 | — | — | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
Millrose Properties, Inc. vs peers in Reit Residential (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| SUI Sun Communities, Inc. | $14.6B | — (loss-making) | — (loss-making) | +12.56% (above 0%: growing) | +1,411.29% (above 0%: growing) | +42.90% (above 0%: growing) | 63.45% | 28.16% | Compare |
| CPT Camden Property Trust | $14.0B | 34.2× | 66.4× | −0.90% (below 0%: shrinking) | −75.68% (below 0%: shrinking) | −1,195.62% (below 0%: shrinking) | 64.13% | 12.20% | Compare |
| ELS Equity Lifestyle Properties, Inc. | $12.7B | 31.0× | 28.8× | +4.22% (above 0%: growing) | −10.00% (below 0%: shrinking) | +33.46% (above 0%: growing) | 52.10% | 33.35% | Compare |
| UDR United Dominion Realty Trust, Inc. | $12.5B | 16.9× | 30.1× | −0.88% (below 0%: shrinking) | +500.08% (above 0%: growing) | −180.36% (below 0%: shrinking) | 62.20% | 63.12% | Compare |
| AMH American Homes 4 Rent | $11.9B | 27.0× | 32.4× | +4.10% (above 0%: growing) | −14.81% (below 0%: shrinking) | −25.98% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| JAN Janus Living, Inc. | $9.5B | — (loss-making) | — | +78.32% (above 0%: growing) | n/m | +592.48% (above 0%: growing) | 27.91% | (4.66%) | Compare |
| MRP Millrose Properties, Inc. | $4.1B | 8.7× | 8.3× | +17.71% (above 0%: growing) | +24.27% (above 0%: growing) | +61.32% (above 0%: growing) | 85.66% | 85.52% | |
| IRT Independence Realty Trust, Inc. | $3.7B | 57.9× | 92.2× | +2.97% (above 0%: growing) | +264.00% (above 0%: growing) | +235.79% (above 0%: growing) | 58.16% | 16.71% | Compare |
| UMH UMH Properties, Inc. | $1.3B | 143× | 99.7× | +10.78% (above 0%: growing) | −27.40% (below 0%: shrinking) | +16.10% (above 0%: growing) | 53.76% | 18.37% | Compare |
| Median of peers | $12.2B | 32.6× | 49.4× | +4.16% | −10.00% | +24.78% | 55.96% | 17.54% |
Pay and ownership Proxy statement filed 2 April 2026
Ownership
Directors and executive officers, together
less than 1% of Class A common stock
The Vanguard Group
13.70% of Class A common stock
BlackRock, Inc.
11.87% of Class A common stock
Brave Warrior Advisors, LLC
5.58% of Class A common stock
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement