Camden Property Trust (CPT) vs Millrose Properties, Inc. (MRP)

Camden Property Trust and Millrose Properties, Inc. are both Reit Residential companies. Camden Property Trust is the larger, with a market value of $13.2B against $4.2B — 3.2× the size. Millrose Properties, Inc. trades at the lower P/E: 9.5× against 32.6×. Millrose Properties, Inc. has the higher net margin (62.6% vs 20.8%) and the higher return on invested capital (4.35% vs 2.03%). Across the 17 metrics below, Millrose Properties, Inc. leads on 12 and Camden Property Trust on 5.

Valuation

Metric CPT MRP Reit Residential median
P/E 32.59 9.48 28.48
P/S 6.42 5.94 5.52
P/B 2.60 0.77 1.89
Price to free cash flow 57.68 n/m 18.04
EV/EBITDA 16.56 11.87 15.74
EV/Sales 9.48 10.47 8.08
Earnings yield 3.07% 10.55% 2.37%
Free cash flow yield 1.73% (27.43%) 4.03%

Profitability

Metric CPT MRP Reit Residential median
Gross margin 63.99% 85.31% 58.73%
Operating margin 17.93% 85.11% 20.57%
Net margin 20.81% 62.60% 20.81%
Free cash flow margin 11.14% (162.90%) 20.24%
Return on equity 7.64% 8.12% 6.86%
Return on assets 3.51% 5.39% 3.17%
Return on invested capital 2.03% 4.35% 2.03%

Growth

Metric CPT MRP Reit Residential median
Revenue growth (TTM) 0.48% — 2.66%
EPS growth (last fiscal year) 136.00% — —
Revenue growth, 5-year CAGR 8.55% — 7.53%
Net income growth, 5-year CAGR 25.41% — 3.76%

Health

Metric CPT MRP Reit Residential median
Debt to equity 1.25 0.59 0.78
Current ratio 0.18 0.08 0.54
Net debt to EBITDA 4.26 5.93 4.27

Dividend

Metric CPT MRP Reit Residential median
Dividend yield 4.07% — 4.63%
Payout ratio 2.06 — 1.35

Size

Metric CPT MRP Reit Residential median
Market cap 13.17b 4.17b 4.17b

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