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Millrose Properties, Inc.

MRPReal EstateNASDAQ

REIT - Residential

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Financials · Annual
Revenue
$600.5M
Net Income
$379.9M
+254.3% YoY
EBITDA
$492.2M
+299.9% YoY
Free Cash Flow
-$2.06B

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About Millrose Properties, Inc.

Headquartered within the real estate sector, Millrose Properties, Inc. focuses on REIT - Residential services and products. Millrose Properties, Inc. is the premier homesite option platform for residential homebuilders. At a $4.69B market cap, Millrose Properties, Inc. ranks as a mid-cap company within real estate. The company specializes in the acquisition and horizontal development of land to provide a predictable, just-in-time supply of finished homesites – the scarcest and mission-critical resource in the homebuilding industry.

Key stats
Market Cap$4.69B
P/E (TTM)10.11
Fwd P/E8.74
EPS$2.79
52W Change+1.9%
Dividend Yield10.77%
ROE7.9%
Analysis

The company holds $49.3M in cash, though total debt stands at $2.43B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. Free cash flow is running at -$2.06B, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. Return on equity stands at 7.9%, which is modest for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 4.5% is on the lower side, which is common in asset-heavy industries.

The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for Millrose Properties, Inc. and its sector.

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