3 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $600M | $380M | 0.0% | 80.9% | — | $2.1B | $35M |
| 2024 | — | -$246M | — | — | — | $24M | $0 |
| 2023 | — | -$210M | — | — | — | — | — |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $195M | $123M | 0.0% | 85.2% | — | $2.4B | $49M |
| Dec '25 | $190M | $122M | 0.0% | 84.8% | — | $2.1B | $35M |
| Sep '25 | $179M | $105M | 0.0% | 85.3% | — | $2.0B | $243M |
| Jun '25 | $149M | $113M | 0.0% | 85.1% | — | $1.0B | $67M |
| Mar '25 | $83M | $40M | 0.0% | 55.2% | — | $350M | $90M |
| Dec '24 | — | -$66M | — | — | — | $24M | $0 |
| Sep '24 | — | -$64M | — | — | — | — | — |
| Jun '24 | — | -$60M | — | — | — | — | — |
| Mar '24 | — | -$57M | — | — | — | — | — |
How the market has priced MRP against its own fundamentals since 2025-02 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
See the revenue and net-income charts above for Millrose Properties, Inc.'s multi-year trend.
As of FY2025, Millrose Properties, Inc. reported $2.1B of total debt against $35M of cash; operating income covered interest expense 5.3×.
In FY2025, gross margin was —, operating margin 80.9%, and net margin 63.3%.
As of Jun '26, Millrose Properties, Inc. traded at a price-to-earnings ratio of about 13.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.