A Business at a Glance
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SUMMARY OF RISK FACTORS Investing in our Common Stock involves a high degree of risk. You should carefully review “Part I, Item 1A. Risk Factors” of this Form 10-K which contains a detailed discussion of the material risks that you should consider before you invest in our Common Stock. The following is a summary of the principal risks that could adversely affect our business, results of operations, financial condition and cash flows: •We are a recently formed company with limited operating history, and you have a limited basis on which to evaluate our ability to achieve our business objectives or to perform as a standalone and separate business. •Our recycled capital business model is contingent on our counterparties electing to exercise their land purchase options. •Our agreements with Lennar involve conflicts of interest, and we might have received better terms from unaffiliated third parties than the terms we received in these agreements.
| Metric | TTM | FY2025 |
|---|---|---|
| Revenue | 600M | 600M |
| Net Income | 405M | 405M |
| EPS | $2.44 | $2.44 |
| Free Cash Flow | 3.7B | 3.7B |
| ROIC | 6.3% | 7.6% |
| Gross Margin | - | - |
| Debt/Equity | 0.34 | 0.34 |
| Dividends/Share | $1.80 | $2.55 |
| Operating Income | 517M | 517M |
| Operating Margin | 86.1% | 86.1% |
| ROE | 6.9% | 7.4% |
| Shares Outstanding | 166M | 166M |
| Metric | 2025 | TTM |
|---|---|---|
| Income Statement | ||
| Revenue | 600M | 600M |
| Gross Margin | N/A | N/A |
| R&D | N/A | N/A |
| SG&A | 25M | 25M |
| EBIT | 517M | 517M |
| Op. Margin | 86.1% | 86.1% |
| Net Income | 405M | 405M |
| Net Margin | 67.4% | 67.4% |
| Non-Recurring | 0 | 0 |
| Returns on Capital | ||
| ROIC | 7.6% | 6.3% |
| ROE | 7.4% | 6.9% |
| ROA | 5.5% | 4.4% |
| Cash Flow | ||
| Op. Cash Flow | 3.7B | 3.7B |
| Free Cash Flow | 3.7B | 3.7B |
| Owner Earnings | 3.7B | 3.7B |
| CapEx | 0 | 0 |
| Maint. CapEx | 0 | 0 |
| Growth CapEx | N/A | 0 |
| D&A | 0 | 0 |
| CapEx/OCF | N/A | 0.0% |
| Capital Allocation | ||
| Dividends Paid | 299M | 299M |
| Dividend Yield | 6.6% | 5.9% |
| Share Buybacks | 0 | 0 |
| Buyback Yield | N/A | 0.0% |
| Stock-Based Comp | 677K | 677K |
| Debt Repayment | 0 | 0 |
| Balance Sheet | ||
| Net Debt | 2.0B | 2.0B |
| Cash & Equiv. | 35M | 35M |
| Long-Term Debt | 2.0B | 2.0B |
| Debt/Equity | 0.34 | 0.34 |
| Interest Coverage | 5.6 | 5.6 |
| Equity | 5.9B | 5.9B |
| Total Assets | 9.3B | 9.3B |
| Total Liabilities | 3.4B | 3.4B |
| Intangibles | N/A | N/A |
| Retained Earnings | N/A | N/A |
| Working Capital | N/A | N/A |
| Current Assets | N/A | N/A |
| Current Liabilities | N/A | N/A |
| Per Share Data | ||
| EPS | 2.44 | 2.44 |
| Owner EPS | 22.13 | 22.13 |
| Book Value | 35.30 | 35.30 |
| Cash Flow/Share | 22.14 | 2.44 |
| Dividends/Share | 2.55 | 1.80 |
| Shares Out. | 165.9M | 165.9M |
| Valuation | ||
| P/E Ratio | 12.1 | 12.6 |
| P/FCF | 1.3 | 1.4 |
| EV/EBIT | 14.3 | 13.7 |
| Price/Book | 0.8 | 0.9 |
| Price/Sales | 7.6 | 8.5 |
| FCF Yield | 74.7% | 72.1% |
| Market Cap | 4.9B | 5.1B |
| Avg. Price | 27.45 | 30.72 |
| Year-End Price | 29.63 | 30.72 |
Millrose Properties, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
Millrose Properties, Inc. trades at 12.6x trailing earnings, compared to its 15-year median P/E of 12.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 1.4x vs a median of 1.3x. The company's 5-year average ROIC is 7.6%. Total shareholder yield (dividends) is 5.9%.
Millrose Properties, Inc. (MRP) has a current P/E ratio of 12.6, compared to its historical median P/E of 12.1. The stock is currently considered Expensive based on its historical valuation range.
Millrose Properties, Inc. (MRP) has a 5-year average return on invested capital (ROIC) of 7.6%. This is below average and may indicate limited pricing power.
Millrose Properties, Inc. (MRP) has a market capitalization of $5.1B. It is classified as a mid-cap stock.
Yes, Millrose Properties, Inc. (MRP) pays a dividend with a trailing twelve-month yield of 5.86%.
Based on historical P/E analysis, Millrose Properties, Inc. (MRP) appears expensive. The current P/E of 12.6 is 4% above its historical median of 12.1.
Millrose Properties, Inc. (MRP) operates in the Real Estate industry, within the Real Estate sector.
Millrose Properties, Inc. (MRP) reported annual revenue of $600 million in its most recent fiscal year, based on SEC EDGAR filings.
Millrose Properties, Inc. (MRP) has a net profit margin of 67.4%. This is a strong margin indicating high profitability.
Millrose Properties, Inc. (MRP) generated $3.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Millrose Properties, Inc. (MRP) has a debt-to-equity ratio of 0.34. This indicates a conservatively financed balance sheet.
Millrose Properties, Inc. (MRP) reported earnings per share (EPS) of $2.44 in its most recent fiscal year.
Millrose Properties, Inc. (MRP) has a return on equity (ROE) of 7.4%. This indicates moderate shareholder returns.
The Ledger Terminal provides 1 years of financial data for Millrose Properties, Inc. (MRP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Millrose Properties, Inc. (MRP) has a book value per share of $35.30, based on its most recent annual SEC filing.