profit from every $100 of sales.
$0$100
Millrose Properties
$26.12-1.84% today
-16.4% in 1 year
1-year low $21.221-year high $32.14
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average.
0%20% a year
You pay $11.42 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Millrose Properties sold, what it kept, and what it did with the cash.
Sales went from $0 in 2023 to $600 million in 2025, with $380 million of profit last year.
SalesProfit
Millrose Properties handed back 8% of the cash it generated last year.
$299M
Free cash flow 2025$3.7B
Bought back its own shares–
Paid as dividends$299M
Cash vs. debt$35M vs. $2.1B
Millrose Properties vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Millrose Properties | 11.4× · Cheap | ||
 AvalonBay Communities | 25.0× · Fair price | ||
 Equity Residential | 22.0× · Fair price | ||
 Essex Property | 28.4× · Fair price | ||
 Invitation Homes | 26.6× · Fair price |
AI analysis
An AI analyst reads Millrose Properties's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2023 | 2024 | 2025 |
|---|---|---|---|
| 0 | 0 | 600 | |
| 0 | 0 | 513 | |
| -210 | -246 | 486 | |
| -210 | -246 | 492 | |
| -210 | -246 | 380 | |
| -1.55 | -1.48 | 2.44 | |
| – | – | 85.4% | |
| – | – | 80.9% | |
| – | – | 63.3% |
Balance sheet
| In millions of USD | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total assets | 0 | 5,465 | 9,258 |
| Cash | 0 | 0 | 35 |
| Total debt | – | 24 | 2,112 |
| Total liabilities | 0 | 307 | 3,402 |
| 0 | 5,158 | 5,856 | |
| 135 | 166 | 166 | |
| -165,735,680.0% | -3.8% | 4.9% | |
| -209,792,000.0% | -4.8% | 6.5% |
Cash flow
| In millions of USD | 2023 | 2024 | 2025 |
|---|---|---|---|
| -865 | -917 | 3,673 | |
| – | – | – | |
| -865 | -917 | 3,673 | |
| Dividends paid | 0 | 0 | 299 |
| – | – | – | |
| 10 | 15 | 1 |
Valuation
- 11.4×
- 8.3×
- –
- 0.8×
- 7.2×
- 1.2×
- 13.0×
- 84.7%
- 8.8%
- 11.0%
Profitability
- 85.4%
- 80.9%
- 63.3%
- 85.6%
- 155.7%
- -1.6%
- 7.9%
- 4.8%
- 6.3%
- –
Growth
- –
- –
- +500.4%
- –
- +7.1%
Financial health
- 3.9×
- 0.42
- 25.4%
- 5.1×
- 28.65
- 28.65
- 0.07
How it ranks in Real Estate
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 1%of 742
Top 3%of 748
Top 31%of 664
Top 1%of 759
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 6, 2026 | 0.74 | 0.77 | −3.5% |
| Feb 26, 2026 | 0.74 | 0.74 | +0.0% |
| Oct 23, 2025 | 0.63 | 0.74 | −14.9% |
| Jul 31, 2025 | 0.68 | 0.74 | −8.1% |
| May 14, 2025 | 0.39 | – | – |
| Mar 31, 2025 | -2.71 | – | – |
| Sep 30, 2024 | 0.16 | – | – |
11.0%of the share price, paid each year
On $1,000 invested$110a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
78.7% of its profit
Room to growStretchedMore than it earns: 8.1%
News
Howard Hughes, Millrose Properties lead list of undervalued real estate stocksSeeking Alpha · Oct 23, 2026Millrose Properties announces pricing of $1B senior notes offeringSeeking Alpha · Sep 23, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
4/7Passes 4 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
55No pass
Benjamin Graham
25No pass
Philip Fisher
61Pass
Peter Lynch
57No pass
Joel Greenblatt
67Pass
Charlie Munger
68Pass
Terry Smith
65Pass
Questions about Millrose Properties
Is Millrose Properties a good stock to buy?
A business with weak numbers, and the price looks low. 4 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Millrose Properties AI analysis
What does Millrose Properties do?
Millrose Properties is a Homesite Option Purchase Platform (HOPP'R), an evolution of residential land banking, accelerating homebuilders' capital-efficient growth of controlled land positions. It is in REIT - Residential, based in Miami, FL, United States.
Does Millrose Properties pay a dividend?
Yes. At today's price the dividend is 11.0% a year, about 79% of its yearly profit. In 2025 it paid out $299 million in dividends.
Is Millrose Properties stock halal?
No. Millrose Properties does not pass our halal screen: its debt is 49% of its market value, at or above the 33% limit. How we check
How has Millrose Properties stock done over the past year?
Down 16.4% over the past twelve months, to $26.12. It traded between $21.22 and $32.14 and is 18.7% below its high.
Who are Millrose Properties's competitors?
The largest listed companies in the same industry are AvalonBay Communities, Equity Residential, Essex Property and Invitation Homes. The peers table on this page compares their profit, growth and price with Millrose Properties's.
Prices: daily closes to Nov 10, 2026. Fundamentals: company reports via invest-like data.