Elme Communities (ELME) vs Millrose Properties, Inc. (MRP)

Elme Communities and Millrose Properties, Inc. are both Reit Residential companies. Millrose Properties, Inc. is the larger, with a market value of $3.4B against $155.5M — 22.1× the size. Elme Communities has negative trailing earnings, so its P/E is not meaningful; Millrose Properties, Inc. trades at 7.8×. Millrose Properties, Inc. has the higher net margin (62.6% vs −54.6%) and the higher return on invested capital (4.35% vs −3.76%). Both pay a dividend; Elme Communities yields more (833.5% vs 13.6%). Across the 17 metrics below, Millrose Properties, Inc. leads on 9 and Elme Communities on 8.

Valuation

Metric ELME MRP Reit Residential median
P/E n/m 7.84 29.43
P/S 0.63 4.91 5.21
P/B 0.17 0.64 1.83
Price to free cash flow 3.15 n/m 17.92
EV/EBITDA 472.91 10.70 15.85
EV/Sales 3.46 9.44 8.04
Earnings yield (86.36%) 12.76% 2.39%
Free cash flow yield 31.72% (33.16%) 4.10%

Profitability

Metric ELME MRP Reit Residential median
Gross margin 52.75% 85.31% 58.73%
Operating margin (39.18%) 85.11% 20.57%
Net margin (54.57%) 62.60% 20.81%
Free cash flow margin 19.92% (162.90%) 20.24%
Return on equity (13.42%) 8.12% 6.86%
Return on assets (7.61%) 5.39% 3.17%
Return on invested capital (3.76%) 4.35% 2.03%

Growth

Metric ELME MRP Reit Residential median
Revenue growth (TTM) 3.10% — 2.66%
EPS growth (last fiscal year) 75.41% — 19.50%
Revenue growth, 5-year CAGR 6.48% — 7.53%
Net income growth, 5-year CAGR 0.00% — 3.76%

Health

Metric ELME MRP Reit Residential median
Debt to equity 0.78 0.59 0.78
Current ratio 0.54 0.08 0.54
Net debt to EBITDA 5.58 5.93 4.27

Dividend

Metric ELME MRP Reit Residential median
Dividend yield 833.52% 13.64% 5.06%
Payout ratio — 1.07 1.22

Size

Metric ELME MRP Reit Residential median
Market cap 155.50m 3.43b 3.55b

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