Millrose Properties, Inc. (MRP) Financial Ratios
4 years of historical data (2022–2025) · Real Estate · REIT - Residential
EV/EBITDA
13.35
-7% vs avg
5yr avg: 14.30
30Y Low14.3·High14.3
P/FCF
1.22
-9% vs avg
5yr avg: 1.35
30Y Low1.4·High1.4
P/B Ratio
0.83
-2% vs avg
5yr avg: 0.85
30Y Low0.8·High0.8
ROE
↑
6.9%
↓+870% vs avg
5yr avg: -0.9%
30Y Low-5%·High7%
Debt/EBITDA
4.29
+0% vs avg
5yr avg: 4.29
30Y Low4.3·High4.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MRP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Millrose Properties, Inc. trades at 11.9x earnings, roughly in line with its 5-year average of 12.2x, sitting at the 0th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.6x, the stock trades at a discount of 52%. On a free-cash-flow basis, the stock trades at 1.2x P/FCF, 9% below the 5-year average of 1.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $4.5B | $5.0B | — | — | — |
| Enterprise Value | $6.6B | $7.0B | — | — | — |
| P/E Ratio → | 11.94 | 12.24 | — | — | — |
| P/S Ratio | 7.48 | 8.26 | — | — | — |
| P/B Ratio | 0.83 | 0.85 | — | — | — |
| P/FCF | 1.22 | 1.35 | — | — | — |
| P/OCF | 1.22 | 1.35 | — | — | — |
P/E links to full P/E history page with 30-year chart
MRP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Millrose Properties, Inc.'s enterprise value stands at 13.3x EBITDA, 7% below its 5-year average of 14.3x. The Real Estate sector median is 17.3x, placing the stock at a 23% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 11.72 | — | — | — |
| EV / EBITDA | 13.35 | 14.30 | — | — | — |
| EV / EBIT | 13.51 | 14.30 | — | — | — |
| EV / FCF | — | 1.92 | — | — | — |
MRP Profitability
Margins and return-on-capital ratios measuring operating efficiency
Millrose Properties, Inc. earns an operating margin of 80.9%, significantly above the Real Estate sector average of 24.7%. ROE of 6.9% is modest. ROIC of 5.6% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 85.4% | 85.4% | — | — | — |
| Operating Margin | 80.9% | 80.9% | — | — | — |
| Net Profit Margin | 63.3% | 63.3% | — | — | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 6.9% | 6.9% | -5.1% | -3.5% | -1.9% |
| ROA | 5.2% | 5.2% | -4.8% | -3.3% | -1.8% |
| ROIC | 5.6% | 5.6% | -3.8% | -2.6% | -1.9% |
| ROCE | 6.6% | 6.6% | -5.1% | -3.4% | -2.5% |
MRP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Millrose Properties, Inc. carries a Debt/EBITDA ratio of 4.3x, which is highly leveraged (46% below the sector average of 7.9x). Net debt stands at $2.1B ($2.1B total debt minus $35M cash). Interest coverage of 5.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.36 | 0.00 | 0.01 | 0.02 |
| Debt / EBITDA | 4.29 | 4.29 | — | — | — |
| Net Debt / Equity | — | 0.35 | 0.00 | 0.01 | 0.02 |
| Net Debt / EBITDA | 4.22 | 4.22 | — | — | — |
| Debt / FCF | — | 0.57 | — | — | — |
| Interest Coverage | 5.36 | 5.36 | — | — | — |
MRP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio has improved from 18.78x to 19.33x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | — | — | 19.33 | 18.78 | 28.88 |
| Quick Ratio | — | — | — | — | — |
| Cash Ratio | — | — | — | — | — |
| Asset Turnover | — | 0.06 | — | — | — |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — |
MRP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Millrose Properties, Inc. returns 6.2% to shareholders annually primarily through dividends. The payout ratio of 78.7% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 8.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | 6.2% | 6.0% | — | — | — |
| Payout Ratio | 78.7% | 78.7% | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 8.4% | 8.2% | — | — | — |
| FCF Yield | 81.8% | 74.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 6.2% | 6.0% | — | — | — |
| Shares Outstanding | — | $166M | $166M | $135M | $135M |
Peer Comparison
Compare MRP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MRPYou | $4B | 11.9 | 13.3 | 1.2 | 85.4% | 80.9% | 6.9% | 5.6% | 4.3 |
 SAFE | $1B | 9.9 | 17.7 | 23.7 | 94.3% | 79.8% | 4.8% | 3.4% | 14.2 |
 PINE | $289M | -91.6 | 14.8 | — | -10.9% | 30.5% | -0.9% | 2.2% | 8.6 |
 NTST | $2B | 248.4 | 22.1 | 18.4 | 90.0% | 30.4% | 0.5% | 1.7% | 7.9 |
 FCPT | $3B | 23.2 | 17.7 | 14.4 | 95.4% | 55.7% | 7.3% | 4.5% | 5.4 |
 LAND | $387M | -30.9 | 15.3 | — | -5.7% | 27.2% | 2.0% | 1.5% | 9.2 |
 LEN | $22B | 11.3 | 8.6 | 795.6 | 9.9% | 8.0% | 8.3% | 7.9% | 2.2 |
 DHI | $45B | 13.3 | 10.5 | 13.6 | 23.7% | 12.9% | 14.2% | 12.1% | 1.3 |
 PHM | $24B | 11.1 | 7.7 | 13.5 | 26.4% | 17.3% | 17.7% | 17.2% | 0.8 |
 TOL | $14B | 10.9 | 8.6 | 13.6 | 26.0% | 15.7% | 16.9% | 13.4% | 1.6 |
 TMHC | $7B | 9.3 | 7.2 | 8.3 | 23.0% | 14.0% | 12.8% | 11.0% | 2.1 |
| Real Estate Median | — | 24.6 | 17.3 | 15.8 | 49.3% | 24.7% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Compare NowMRP — Frequently Asked Questions
Quick answers to the most common questions about buying MRP stock.
What is Millrose Properties, Inc.'s P/E ratio?
Millrose Properties, Inc.'s current P/E ratio is 11.9x. The historical average is 12.2x.
What is Millrose Properties, Inc.'s EV/EBITDA?
Millrose Properties, Inc.'s current EV/EBITDA is 13.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
What is Millrose Properties, Inc.'s ROE?
Millrose Properties, Inc.'s return on equity (ROE) is 6.9%. The historical average is -0.9%.
Is MRP stock overvalued?
Based on historical data, Millrose Properties, Inc. is trading at a P/E of 11.9x. Compare with industry peers and growth rates for a complete picture.
What is Millrose Properties, Inc.'s dividend yield?
Millrose Properties, Inc.'s current dividend yield is 6.18% with a payout ratio of 78.7%.
What are Millrose Properties, Inc.'s profit margins?
Millrose Properties, Inc. has 85.4% gross margin and 80.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Millrose Properties, Inc. have?
Millrose Properties, Inc.'s Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.