MRPMillrose Properties, Inc.
Real Estate
- Revenue
- $600M
- Operating margin
- 80.9%
- EBITDA
- $486M
- 297% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 5.0×
- $2.4B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear967% of net incomeCash flow under 80% of net income
- Dilutive SBCClear0% of revenueOver 10% of revenue
- Payouts exceed cash flowClear8% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Revenue | — | — | $600M | |
| Operating income | −$210M | −$246M | $486M | 297% |
| Net income | −$210M | −$246M | $380M | 254% |
| Operating cash flow | −$865M | −$917M | $3.7B | 500% |
| Stock-based comp | $10M | $15M | $677K | 95% |
| Dividends | — | — | $299M |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.