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    Millrose Properties, Inc.

    Company overview

    Market capitalization
    —
    Employees
    0
    Latest publication
    2026-09-29
    About Millrose Properties, Inc.

    Millrose Properties, Inc. is the premier homesite option platform for residential homebuilders. 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. Unlike traditional land bankers, Millrose utilizes a proprietary technology platform that provides real-time feedback and data analytics to drive acquisition decisions. Every transaction in the Millrose portfolio undergoes rigorous independent due diligence to ensure attractive yields and long-term viability. By enabling an asset-light model, Millrose provides its diverse roster of homebuilder partners with the strategic flexibility to maintain production volumes and optimize balance sheet efficiency across all market environments. Millrose Properties, Inc.is based in Miami, United States.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Revenue196,853,000USD194,929,000USD189,501,000USD179,260,000USD149,002,000USD82,698,000USD-348,063,000USD123,671,000USD
    Total Operating Expenses29,219,000USD28,845,000USD28,763,000USD26,424,000USD181,000USD24,960,000USD178,321,000USD67,900,000USD
    Operating Income167,634,000USD166,084,000USD160,738,000USD152,836,000USD126,861,000USD45,634,000USD-463,589,000USD28,382,000USD
    Total Other Income Expense Net-39,297,000USD-38,163,000USD-33,000,000USD-41,914,000USD-9,333,000USD-1,448,000USD——
    Interest Income1,108,000USD1,128,000USD2,346,000USD41,298,000USD8,467,000USD1,088,000USD——
    Interest Expense40,014,000USD39,212,000USD35,223,000USD43,748,000USD43,748,000USD2,536,000USD——
    Income Before Tax128,337,000USD127,921,000USD127,738,000USD110,922,000USD117,528,000USD44,186,000USD-463,589,000USD28,382,000USD
    Income Tax Expense2,456,000USD5,037,000USD5,500,000USD5,862,000USD4,768,000USD4,380,000USD-14,263,000USD4,813,000USD
    Net Income125,881,000USD122,884,000USD122,238,000USD105,060,000USD112,760,000USD39,806,000USD-449,326,000USD23,569,000USD
    Net Income Applicable To Common Shares125,881,000USD—122,238,000USD105,060,000USD112,760,000USD64,766,000USD-65,803,000USD-93,207,000USD
    Cost Of Revenue—28,153,000USD27,792,000USD—21,960,000USD12,104,000USD-62,795,000USD27,389,000USD
    Gross Profit—194,929,000USD189,501,000USD179,260,000USD127,042,000USD70,594,000USD-285,268,000USD96,282,000USD
    Selling General Administrative—692,000USD307,000USD529,000USD181,000USD24,960,000USD246,221,000USD63,670,000USD
    Other Operating Expenses—28,845,000USD28,763,000USD26,424,000USD————
    Net Interest Income—-38,084,000USD-32,877,000USD—-8,467,000USD-1,448,000USD——
    Tax Provision—5,037,000USD5,500,000USD5,862,000USD4,768,000USD4,380,000USD-14,263,000USD4,813,000USD
    Net Income From Continuing Ops—122,884,000USD122,238,000USD—112,760,000USD39,806,000USD-449,326,000USD23,569,000USD
    Ebitda—167,133,000USD162,961,000USD154,670,000USD118,891,000USD46,722,000USD-463,589,000USD28,427,000USD
    Ebit————117,528,000USD——28,382,000USD
    Depreciation And Amortization————1,363,000USD——45,000USD
    Unclassified Operating Expenses——————-67,900,000USD4,230,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20222022-12-31 · USD
    Total Revenue600,461,000USD0USD0USD
    Cost Of Revenue87,751,000USD0USD0USD
    Gross Profit512,710,000USD0USD0USD
    Selling General Administrative25,637,000USD246,221,000USD193,110,000USD
    Unclassified Operating Expenses1,005,000USD——
    Total Operating Expenses26,642,000USD246,221,000USD193,110,000USD
    Operating Income486,068,000USD-246,221,000USD-193,110,000USD
    Interest Income7,702,000USD0USD—
    Interest Expense91,792,000USD0USD—
    Net Interest Income-84,090,000USD0USD—
    Income Before Tax400,373,000USD-246,221,000USD-193,110,000USD
    Income Tax Expense20,509,000USD—-48,857,000USD
    Tax Provision20,509,000USD0USD—
    Net Income379,864,000USD-246,221,000USD-144,253,000USD
    Net Income From Continuing Ops379,864,000USD-246,221,000USD—
    Ebit492,165,000USD——
    Ebitda492,165,000USD-246,221,000USD—
    Depreciation And Amortization20,273,000USD—193,110,000USD
    Total Other Income Expense Net-85,695,000USD——
    Net Income Applicable To Common Shares404,824,000USD-246,221,000USD-193,110,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets9,707,302,000USD9,570,049,000USD9,258,107,000USD9,023,737,000USD7,973,646,000USD7,152,356,000USD5,465,290,000USD5,268,372,000USD
    Cash And Equivalents34,171,000USD———————
    Total Liabilities3,855,466,000USD———————
    Total Stockholder Equity5,851,836,000USD5,853,629,000USD5,856,262,000USD5,858,316,000USD5,874,249,000USD5,875,851,000USD5,158,372,000USD4,970,284,000USD
    Total Equity Including Noncontrolling Interest5,851,836,000USD———————
    Total Liab—3,716,420,000USD3,401,845,000USD3,165,421,000USD2,099,397,000USD1,276,505,000USD306,918,000USD298,088,000USD
    Common Stock—1,660,000USD1,660,000USD1,660,000USD1,660,000USD1,660,000USD5,158,372,000USD4,970,284,000USD
    Capital Stock—1,660,000USD1,660,000USD—1,660,000USD1,660,000USD1USD—
    Retained Earnings—-21,764,000USD-18,485,000USD-16,219,999USD-98,000USD1,685,000USD0USD—
    Other Assets—9,197,544,000USD8,894,062,000USD9,023,737,000USD28,000USD63,909,000USD——
    Cash—49,276,000USD35,046,000USD242,578,000USD66,575,000USD89,523,000USD100USD510,930,000USD
    Cash And Short Term Investments—49,276,000USD35,046,000USD242,578,000USD66,575,000USD89,523,000USD100USD510,930,000USD
    Total Current Assets—372,505,000USD364,045,000USD641,215,000USD7,960,988,000USD7,135,653,000USD5,465,290,000USD5,268,372,000USD
    Total Current Liabilities—13,000,000USD185,446,000USD1,027,416,999USD131,760,000USD769,615,000USD282,730,000USD254,701,000USD
    Net Debt—2,380,908,000USD2,077,016,000USD1,736,593,000USD944,587,000USD260,477,000USD24,188,000USD43,387,000USD
    Short Term Debt—13,000,000USD13,000,000USD13,000,000USD13,000,000USD363,000,000USD24,188,000USD43,387,000USD
    Short Long Term Debt Total—2,430,184,000USD2,112,062,000USD1,979,171,000USD1,011,162,000USD350,000,000USD24,188,000USD43,387,000USD
    Long Term Debt—2,417,184,000USD2,112,062,000USD1,966,171,000USD1,011,162,000USD350,000,000USD24,188,000USD—
    Net Receivables—323,229,000USD328,999,000USD398,637,000USD46,635,000USD47,206,000USD——
    Common Stock Shares Outstanding—166,003,497shares166,039,595shares166,031,797shares166,031,175shares166,003,497shares166,003,000shares134,117,000shares
    Non Current Assets Total—9,197,544,000USD8,894,062,000USD—12,630,000USD16,703,000USD0USD0USD
    Non Current Liabilities Total—3,703,420,000USD3,216,399,000USD1USD1,967,637,000USD506,890,000USD24,188,000USD43,387,000USD
    Non Current Liabilities Other—1,060,294,000USD1,027,004,000USD—899,562,000USD100,000,000USD——
    Non Currrent Assets Other—-9,177,273,000USD8,894,062,000USD—12,630,000USD16,703,000USD——
    Net Working Capital—215,520,000USD178,599,000USD—7,829,228,000USD6,366,038,000USD5,182,560,000USD5,971,477,000USD
    Unclassified Non Current Liabilities—225,942,000USD77,333,000USD-1,966,170,999USD56,913,000USD56,890,000USD—43,387,000USD
    Unclassified Equity—5,872,073,000USD5,871,427,000USD5,872,875,999USD5,871,027,000USD5,870,846,000USD——
    Other Current Liab——185,446,000USD1,014,416,999USD130,363,000USD80,707,000USD——
    Inventory——0USD8,360,431,000USD7,845,178,000USD6,998,924,000USD5,465,290,000USD5,268,372,000USD
    Unclassified Non Current Assets——-8,894,062,000USD——-63,909,000USD——
    Unclassified Current Liabilities——-13,000,000USD—-11,603,000USD-358,686,000USD-24,188,000USD-711,408,000USD
    Other Current Assets———-641,215,000USD2,600,000USD47,631,000USD——
    Unclassified Current Assets———-8,360,431,000USD———-510,930,000USD
    Accounts Payable————0USD0USD282,730,000USD254,701,000USD
    Current Deferred Revenue—————684,594,000USD—668,021,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Assets9,258,107,000USD5,465,290,000USD4,744,122,000USD8,022,313,000USD
    Total Liab3,401,845,000USD306,918,000USD285,161,000USD393,575,000USD
    Total Stockholder Equity5,856,262,000USD5,158,372,000USD4,458,961,000USD7,628,738,000USD
    Other Current Liab185,446,000USD———
    Common Stock1,660,000USD5,158,372,000USD4,458,961,000USD7,628,738,000USD
    Capital Stock1,660,000USD1USD1USD—
    Retained Earnings-18,485,000USD0USD——
    Other Assets8,894,062,000USD———
    Cash35,046,000USD100USD100USD—
    Cash And Short Term Investments35,046,000USD100USD100USD—
    Total Current Assets364,045,000USD5,465,290,000USD4,744,122,000USD7,973,456,000USD
    Total Current Liabilities185,446,000USD282,730,000USD252,554,000USD276,111,000USD
    Net Debt2,077,016,000USD24,188,000USD32,607,000USD117,464,000USD
    Short Term Debt13,000,000USD24,188,000USD32,607,000USD84,724,000USD
    Short Long Term Debt Total2,112,062,000USD24,188,000USD32,607,000USD117,464,000USD
    Long Term Debt2,112,062,000USD24,188,000USD——
    Net Receivables328,999,000USD———
    Inventory0USD5,465,290,000USD4,744,122,000USD7,973,456,000USD
    Common Stock Shares Outstanding166,026,608shares166,000,265shares135,000,000shares135,000,000shares
    Non Current Assets Total8,894,062,000USD0USD0USD48,857,000USD
    Non Current Liabilities Total3,216,399,000USD24,188,000USD32,607,000USD117,464,000USD
    Non Current Liabilities Other1,027,004,000USD———
    Non Currrent Assets Other8,894,062,000USD——48,857,000USD
    Net Working Capital178,599,000USD5,182,560,000USD——
    Unclassified Non Current Assets-8,894,062,000USD———
    Unclassified Current Liabilities-13,000,000USD-24,188,000USD-32,607,000USD-84,724,000USD
    Unclassified Non Current Liabilities77,333,000USD—32,607,000USD117,464,000USD
    Unclassified Equity5,871,427,000USD———
    Accounts Payable—282,730,000USD252,554,000USD276,111,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ1 20242024-03-31 · USDQ4 20232023-12-31 · USDQ3 20232023-09-30 · USD
    Net Income122,884,000USD122,238,000USD105,060,000USD112,760,000USD39,806,000USD-56,987,000USD-57,103,000USD-83,813,000USD
    Depreciation2,342,000USD2,550,000USD16,360,000USD1,363,000USD157,000USD—-163,000USD51,000USD
    Stock Based Compensation692,000USD307,000USD189,000USD181,000USD0USD7,158,000USD377,000USD1,358,000USD
    Other Non Cash Items-7,287,000USD-14,557,000USD10,657,000USD-3,016,000USD22,500,000USD15,000USD-6,696,000USD11,130,000USD
    Change In Working Capital681,012,000USD3,311,316,000USD7,418,000USD-2,194,000USD-41,018,000USD232,172,000USD-438,575,000USD434,895,000USD
    Total Cash From Operating Activities797,301,000USD3,419,304,000USD123,135,000USD109,094,000USD21,288,000USD182,358,000USD-502,160,000USD363,621,000USD
    Capital Expenditures0USD-858,938,000USD-858,938,000USD-858,938,000USD-858,938,000USD0USD0USD0USD
    Free Cash Flow797,301,000USD3,419,304,000USD123,135,000USD109,094,000USD-837,650,000USD182,358,000USD-502,160,000USD363,621,000USD
    Investments-977,419,000USD——-726,786,000USD-606,209,000USD0USD——
    Total Cashflows From Investing Activities-962,020,000USD-3,614,174,000USD-775,065,000USD-726,786,000USD-606,209,000USD———
    Net Borrowings315,000,000USD110,000,000USD—680,712,000USD334,423,000USD———
    Total Cash From Financing Activities178,949,000USD-12,662,000USD827,933,000USD594,744,000USD674,444,000USD-182,358,000USD502,160,000USD-363,621,000USD
    Dividends Paid-124,503,000USD-121,182,000USD-114,543,000USD-63,081,000USD-63,081,000USD———
    Change In Cash14,230,000USD-207,532,000USD176,003,000USD-22,948,000USD89,523,000USD0USD——
    Begin Period Cash Flow35,046,000USD242,578,000USD66,575,000USD89,523,000USD0USD0USD——
    End Period Cash Flow49,276,000USD35,046,000USD242,578,000USD66,575,000USD89,523,000USD0USD——
    Other Cashflows From Investing Activities-962,020,000USD-3,614,174,000USD-775,065,000USD-726,786,000USD252,729,000USD———
    Other Cashflows From Financing Activities-11,548,000USD-1,480,000USD280,745,000USD-3,105,000USD340,021,000USD-166,279,000USD480,107,000USD-347,851,000USD
    Unclassified Investing Cash Flow977,419,000USD858,938,000USD858,938,000USD1,585,724,000USD606,209,000USD———
    Change To Account Receivables—58,807,000USD-11,601,000USD571,000USD-47,206,000USD———
    Change To Inventory—0USD-3,729,194,000USD4,911,279,000USD4,911,279,000USD232,172,000USD-438,575,000USD434,895,000USD
    Sale Purchase Of Stock—0USD——————
    Unclassified Operating Cash Flow——-16,549,000USD—————
    Unclassified Financing Cash Flow——661,731,000USD-19,782,000USD63,081,000USD-16,079,000USD22,053,000USD-15,770,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Net Income379,864,000USD-246,221,000USD-209,792,000USD-144,253,000USD
    Depreciation20,273,000USD-13,000USD—61,000USD
    Stock Based Compensation677,000USD14,937,000USD10,093,000USD3,813,000USD
    Other Non Cash Items16,734,000USD-13,000USD—-4,682,000USD
    Change To Inventory0USD-716,073,000USD-641,864,000USD-183,584,000USD
    Change In Working Capital3,275,546,000USD-685,897,000USD-665,421,000USD-183,584,000USD
    Total Cash From Operating Activities3,672,821,000USD-917,194,000USD-865,120,000USD-328,645,000USD
    Capital Expenditures-858,938,000USD0USD0USD0USD
    Free Cash Flow3,672,821,000USD-917,194,000USD-865,120,000USD-328,645,000USD
    Investments-5,149,382,000USD0USD0USD—
    Total Cashflows From Investing Activities-5,722,234,000USD———
    Net Borrowings2,104,000,000USD-13,501,000USD-18,687,000USD—
    Total Cash From Financing Activities2,084,459,000USD917,194,000USD865,120,000USD328,645,000USD
    Dividends Paid-298,806,000USD0USD0USD—
    Sale Purchase Of Stock0USD930,695,000USD883,807,000USD429,592,000USD
    Change In Cash35,046,000USD-1,077,545,000USD0USD0USD
    Begin Period Cash Flow0USD1,077,545,000USD0USD—
    End Period Cash Flow35,046,000USD0USD1,077,545,000USD—
    Other Cashflows From Investing Activities286,086,000USD———
    Other Cashflows From Financing Activities279,265,000USD930,695,000USD883,807,000USD344,738,000USD
    Unclassified Financing Cash Flow—-930,695,000USD-883,807,000USD-445,685,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.