Millrose Properties, Inc. (MRP) Key Metrics
MRP valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.74B
- Enterprise value
- $6.90B
- P/E (TTM)
- 7.8
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 4.9
- Price / book
- 0.8
- EV / EBITDA
- 10.6
- Dividend yield
- 13.04% $3.16 a year
- Beta
- —
MRP key metrics, 2022–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMRP returns How much profit the business earns on the capital it uses.
MRP per-share figures Results divided by the shares outstanding at year-end.
MRP financial health Debt, liquidity and how easily interest is covered.
MRP valuation history
MRP returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MRP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MRP cash returned to shareholders
MRP price vs earnings per share
MRP key metrics
2022–2025| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Valuation | ||||
| Market capitalization | $4.96B | — | — | — |
| Enterprise value | $7.04B | — | — | — |
| P/E ratio | 13.1 | — | — | — |
| Price / sales | 8.3 | — | — | — |
| Price / book | 0.8 | — | — | — |
| Price / free cash flow | 1.4 | — | — | — |
| Price / operating cash flow | 1.4 | — | — | — |
| EV / sales | 11.7 | — | — | — |
| EV / EBITDA | 14.3 | — | — | — |
| EV / free cash flow | 1.9 | — | — | — |
| Earnings yield | 7.7% | — | — | — |
| Free cash flow yield | 74.1% | — | — | — |
| Dividend yield | 6.0% | — | — | — |
| Shareholder yield (dividends + buybacks) | 6.0% | — | — | — |
| Share price at fiscal year-end | $29.87 | — | — | — |
| Per share | ||||
| Revenue per share | $3.62 | $0.00 | $0.00 | $0.00 |
| Earnings per share | $2.29 | −$1.48 | −$1.55 | −$1.07 |
| Operating cash flow per share | $22.12 | −$5.53 | −$6.41 | −$2.43 |
| Free cash flow per share | $22.12 | −$5.53 | −$6.41 | −$2.43 |
| Cash per share | $0.21 | $0.00 | $0.00 | — |
| Book value per share | $35.27 | $31.07 | $33.03 | $56.51 |
| Tangible book value per share | $35.27 | $31.07 | $33.03 | $56.51 |
| Dividends per share | $1.80 | $0.00 | $0.00 | — |
| Capex per share | $5.17 | $0.00 | $0.00 | $0.00 |
| Debt per share | $12.72 | $0.15 | $0.24 | $0.87 |
| Shares outstanding | 166.0M | 166.0M | 135.0M | 135.0M |
| Change in shares outstanding | +0.0% | +23.0% | 0.0% | — |
| Returns & profitability | ||||
| Return on equity (ROE) | 6.9% | −5.1% | −3.5% | −1.9% |
| Return on invested capital (ROIC) | 7.0% | −4.0% | −2.7% | −2.0% |
| Return on assets (ROA) | 5.2% | −4.8% | −3.3% | −1.8% |
| Return on tangible assets | 4.1% | −4.5% | −4.4% | −1.8% |
| Free cash flow margin | 611.7% | — | — | — |
| Income quality (OCF / net income) | 9.67 | — | — | — |
| Financial health | ||||
| Total debt | $2.11B | $24.2M | $32.6M | $117.5M |
| Cash & short-term investments | $35.0M | $100 | $100 | — |
| Net debt | $2.08B | $24.2M | $32.6M | $117.5M |
| Debt / equity | 0.36 | 0.00 | 0.01 | 0.02 |
| Debt / assets | 0.23 | 0.00 | 0.01 | 0.01 |
| Net debt / EBITDA | 4.22 | — | — | — |
| Current ratio | 1.96 | 19.33 | 18.78 | 28.88 |
| Quick ratio | 1.96 | 0.00 | 0.00 | 0.00 |
| Interest coverage | 5.3 | — | — | — |
| Working capital | $178.6M | $5.18B | $4.49B | $7.70B |
| Invested capital | $7.93B | $5.18B | $4.49B | $7.75B |
| Tangible asset value | $5.86B | $5.16B | $4.46B | $7.63B |
| Net current asset value | −$3.04B | $5.16B | $4.46B | $7.58B |
| Graham number | $42.61 | — | — | — |
| Graham net-net per share | −$18.79 | $14.61 | $15.46 | $26.62 |
| Capital allocation | ||||
| Dividends paid | $298.8M | $0 | $0 | — |
| Share buybacks (net) | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 78.7% | — | — | — |
| Dividends + buybacks / free cash flow | 8.1% | — | — | — |
| Capex / revenue | 143.0% | — | — | — |
| Capex / operating cash flow | 23.4% | — | — | — |
| Capex / depreciation | 42.37 | — | — | 0.00 |
| Stock-based compensation / revenue | 0.1% | — | — | — |
| SG&A / revenue | 4.3% | — | — | — |
| Efficiency | ||||
| Days sales outstanding | 200.0 | — | — | — |
| Receivables turnover | 1.83 | — | — | — |
| Payables turnover | — | 0.00 | 0.00 | 0.00 |
| Inventory turnover | — | 0.00 | 0.00 | 0.00 |
| Asset turnover | 0.08 | 0.00 | 0.00 | 0.00 |
| Average receivables | $329.0M | — | — | — |
| Average payables | — | $267.6M | $264.3M | $276.1M |
| Average inventory | $2.73B | $5.10B | $6.36B | $7.97B |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from MRP's annual financial statements (latest annual report filed March 2, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MRP valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Millrose Properties traded at 13.1 times earnings. Based on the latest twelve months, the trailing P/E is 7.8. Millrose Properties earned a return on equity of 6.9% and a return on invested capital of 7.0% in fiscal 2025. It ended the year with $2.1 billion of debt and $35.0 million in cash and short-term investments, net debt of $2.1 billion. It returned $298.8 million to shareholders: $298.8 million in dividends and $0 in share buybacks, 8% of free cash flow.
See the MRP income statement, the MRP chart for price history, or the MRP stock overview for the latest quote and news.
MRP key metrics FAQ
What is Millrose Properties's P/E ratio?
Millrose Properties's trailing P/E ratio is 7.8 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 13.1.
What is Millrose Properties's EV/EBITDA?
Millrose Properties's enterprise value was 14.3 times EBITDA at the end of fiscal 2025 (enterprise value $7.0 billion, EBITDA $492.2 million); the current EV/EBITDA is 10.6.
What is Millrose Properties's return on equity?
Millrose Properties's return on equity (ROE) was 6.9% in fiscal 2025: net income of $379.9 million on average shareholders' equity of $5.5 billion.
What is Millrose Properties's ROIC?
Millrose Properties's return on invested capital was 7.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Millrose Properties have?
Millrose Properties had total debt of $2.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.36 and $2.1 billion of net debt (4.22 times EBITDA).
What is Millrose Properties's dividend yield?
Millrose Properties's forward dividend yield is 13.04%. Millrose Properties paid $298.8 million in dividends in fiscal 2025 ($1.80 per share), a payout ratio of 78.7%.
What is Millrose Properties's free cash flow yield?
Millrose Properties generated $3.7 billion of free cash flow in fiscal 2025, a free cash flow yield of 74.1% on its market value at year-end ($5.0 billion).
What is Millrose Properties's current ratio?
Millrose Properties's current ratio was 1.96 at the end of fiscal 2025: current assets were 1.96 times current liabilities.