Millrose Properties, Inc.
Real EstateNYSE:MRP · New York Stock Exchange
-$0.15 today
Vol 1.13M · Avg 1.47M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$712.7M of revenue converted into $462.9M of net income for the selected period. Gross margin is 96.3% and net margin is 65.5%, showing how much revenue survives after costs and taxes. EPS is $2.79, tying the income statement back to per-share earnings.
Income Statement
Annual data · 4 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $600.5M | $0 | $0 | $0 | $1.0B | $809.6M | $921.6M |
| Cost of Revenue | $87.8M | $0 | $0 | $0 | $344.8M | $725.6M | $804.0M |
| Gross Profit | $512.7M | $0 | $0 | $0 | $10.3B | $8.9B | $7.6B |
| Gross Margin | 85.4% | — | — | — | 45.5% | 9.8% | 28.9% |
| Research & Development | $0 | $0 | $0 | $0 | $378.4M | $983.2M | $1.3B |
| Selling, General & Admin | $25.6M -89.6% | $246.2M +17.4% | $209.8M +8.6% | $193.1M | $1.4B | $620.6M | $923.0M |
| Operating Expenses | $26.6M -89.2% | $246.2M +17.4% | $209.8M +8.6% | $193.1M | $3.6B | $5.3B | $7.0B |
| Depreciation & Amortization | $0 | $0 | $0 -100.0% | $193.1M | $1.2B | $374.2M | $1.2B |
| EBITDA | $492.2M +299.9% | -$246.2M -17.4% | -$209.8M | $0 | $12.6B | -$15.2B | $6.8B |
| EBITDA Margin | 82.0% | — | — | — | 10.0% | 5.6% | 46.3% |
| Operating Income | $486.1M +297.4% | -$246.2M -17.4% | -$209.8M -8.6% | -$193.1M | $10.6B | $12.3B | $14.0B |
| Operating Margin | 80.9% | — | — | — | 18.7% | 16.6% | 24.1% |
| Interest Income | $7.7M | $0 | $0 | $0 | $1.3B | -$1.5B | -$1.6B |
| Interest Expense | $91.8M | $0 | $0 | $0 | $969.2M | $1.1B | $1.0B |
| Other Income / Expenses | -$85.7M | $0 | $0 | $0 | -$1.6B | -$1.5B | $1.4B |
| Income Before Tax | $400.4M +262.6% | -$246.2M -17.4% | -$209.8M -8.6% | -$193.1M | -$15.6B | $3.3B | $4.9B |
| Pre-Tax Margin | 66.7% | — | — | — | 13.3% | 20.8% | 18.7% |
| Income Tax Expense | $20.5M | $0 | $0 +100.0% | -$48.9M | $666.8M | $1.3B | -$1.6B |
| Net Income | $379.9M +254.3% | -$246.2M -17.4% | -$209.8M -45.4% | -$144.3M | $5.0B | $4.9B | $4.8B |
| Net Margin | 63.3% | — | — | — | 7.4% | 12.4% | 17.5% |
| EPS (Basic) | $2 +264.9% | -$1 +4.5% | -$2 | $0 | $1.2B | $400.8M | $703.2M |
| EPS (Diluted) | $2 +264.9% | -$1 +4.5% | -$2 | $0 | $620.6M | $766.2M | $609.4M |
| Weighted Avg Shares | $166.0M +0.0% | $166.0M +23.0% | $135.0M +0.0% | $135.0M | $892.2M | $757.8M | $925.8M |
| Weighted Avg Shares (Diluted) | $166.0M +0.0% | $166.0M +23.0% | $135.0M +0.0% | $135.0M | $319.6M | $1.2B | $924.4M |
Older periods hidden.
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SEC Filings
Recent regulatory filings
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How much revenue does MRP generate?
Millrose Properties, Inc. (MRP) reported $600.46M of revenue in fiscal 2025.
Is MRP profitable?
Millrose Properties, Inc. (MRP) reported $379.86M of net income, with a net margin of 63.3%.
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