Janus Living, Inc. (JAN) vs Millrose Properties, Inc. (MRP)

Janus Living, Inc. and Millrose Properties, Inc. are both Reit Residential companies. Janus Living, Inc. is the larger, with a market value of $9.1B against $4.0B — 2.3× the size. Millrose Properties, Inc. has the higher net margin (63.2% vs −0.35%) and the higher return on invested capital (4.25% vs −0.56%). Across the 15 metrics below, Millrose Properties, Inc. leads on 9 and Janus Living, Inc. on 6.

Valuation

Metric JAN MRP Reit Residential median
P/E — 8.56 26.83
P/S 8.07 5.42 5.42
P/B 1.56 0.73 1.73
Price to free cash flow 42.63 n/m 23.00
EV/EBITDA 81.67 12.47 15.65
EV/Sales 5.76 10.56 7.85
Earnings yield — 11.68% 2.91%
Free cash flow yield 2.35% (28.83%) 3.93%

Profitability

Metric JAN MRP Reit Residential median
Gross margin 26.42% 85.34% 58.22%
Operating margin (2.59%) 85.18% 21.71%
Net margin (0.35%) 63.24% 17.26%
Free cash flow margin 18.92% 0.00% 29.94%
Return on equity 0.00% 8.56% 6.07%
Return on assets (0.11%) 5.12% 2.67%
Return on invested capital (0.56%) 4.25% 2.99%

Growth

Metric JAN MRP Reit Residential median
Revenue growth (TTM) — — 3.11%
EPS growth (last fiscal year) — — 9.26%
Revenue growth, 5-year CAGR — — 8.41%
Net income growth, 5-year CAGR — — 4.20%

Health

Metric JAN MRP Reit Residential median
Debt to equity 0.00 0.71 0.71
Current ratio 5.46 0.12 0.54
Net debt to EBITDA (2.07) 5.93 4.26

Dividend

Metric JAN MRP Reit Residential median
Dividend yield — 11.86% 4.78%
Payout ratio — 1.02 1.06

Size

Metric JAN MRP Reit Residential median
Market cap 9.11b 3.99b 6.45b

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