Millrose Properties, Inc. (MRP) Revenue History
Annual and quarterly revenue from 2022 to present
MRP Revenue Over Time (2022–2025)
MRP Revenue Growth History
- FY2022 revenue growth
- N/A
- FY2023 revenue growth
- N/A
- FY2024 revenue growth
- N/A
- FY2025 revenue growth
- N/A
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $194.9M | +135.7% |
| Q4 2025 | $189.5M | +154.4% |
| Q3 2025 | $179.3M | +44.9% |
| Q2 2025 | $149.0M | -33.6% |
| Q1 2025 | $82.7M | — |
| Q4 2024 | $-348,063,000 | — |
| Q3 2024 | $123.7M | — |
| Q2 2024 | $224.4M | — |
Multi-year avg. share of annual revenue by fiscal quarter
MRP Revenue Analysis (2022–2025)
Current Revenue & Growth
As of June 13, 2026, Millrose Properties, Inc. (MRP) generated trailing twelve-month (TTM) revenue of $712.7 million, reflecting explosive growth of +135.7% year-over-year. The most recent quarter (Q1 2026) recorded $194.9 million in revenue, up 2.9% sequentially.
Historical Growth Trajectory
MRP's historical revenue data shows various trends over time. Millrose Properties, Inc.'s highest annual revenue of $600.5 million was recorded in 2025, an all-time high.
Peer Comparison
Compared to Real Estate sector peers — including SAFE (+5.4% YoY), PINE (+19.9% YoY), and NTST (+22.2% YoY) — MRP has outperformed the peer group in revenue growth. Compare MRP vs SAFE →
MRP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
 MRPCurrent | $713M | +135.7% | - | 80.9% | |
 SAFE | $386M | +5.4% | +19.4% | 79.8% | |
 PINE | $61M | +19.9% | +25.8% | 30.5% | |
 NTST | $181M | +22.2% | +40.4% | 30.4% | |
 FCPT | $294M | +10.2% | +11.5% | 55.7% | |
 LAND | $88M | +7.7% | +9.1% | 27.2% |
MRP Historical Revenue Data (2022–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $600.5M | - | $512.7M | 85.4% | $486.1M | 80.9% |
| 2024 | $0 | - | $0 | - | $-246,221,000 | - |
| 2023 | $0 | - | $0 | - | $-209,792,000 | - |
| 2022 | $0 | - | $0 | - | $-193,110,000 | - |
What if you invested $1,000 in MRP back in 2022?
Total return with dividends reinvested · 4+ years of data
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Run the NumbersIs MRP Undervalued Right Now?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
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Compare NowMRP — Frequently Asked Questions
Quick answers to the most common questions about buying MRP stock.
Is MRP's revenue growth accelerating or slowing?
MRP revenue growth is accelerating. TTM revenue reached $713M, up +135.7% year-over-year — ahead of the 5-year CAGR of N/A. This indicates the business is expanding faster than its historical baseline.
What is MRP's revenue history from 2022 to 2026?
Millrose Properties, Inc. (MRP) revenue history spans 2022 to 2026. TTM revenue as of 2026 is $713M, growing at +135.7% YoY. The 5-year CAGR is N/A. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is MRP's long-term revenue growth rate (CAGR)?
Millrose Properties, Inc.'s 5-year revenue CAGR of N/A reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +135.7% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for MRP.
Why does MRP's quarterly revenue fluctuate?
MRP quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Millrose Properties, Inc.'s revenue data from 2022 to 2026 shows full historical quarterly detail on this page.
How is MRP's revenue distributed by segment?
MRP reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does MRP's revenue compare to industry peers?
Millrose Properties, Inc. (MRP) with TTM revenue of $713M and +135.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.