Millrose Properties, Inc.(MRP)— Stock Profile, AI Score & Financials
Real Estate · NYSE · AI-powered stock analysis, 32-signal quality score, SEC EDGAR financials, and institutional holdings. Updated .
Millrose Properties, Inc. (MRP) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores MRP at 82.3/100 on a 32-signal composite quality model, placing it at rank #15 of 2,960 stocks — the top 1% of the AI-ranked universe. MRP scores in the top quartile across free cash flow (100.0), profitability (98.6), earnings quality (92.2). Based on the latest XBRL financial filings (Q2 2026), Millrose Properties, Inc. reports quarterly revenue of $196.9M, net income of $125.9M, an operating margin of 85.2%. Top institutional holders of MRP by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, FMR, based on the most recent SEC filings. MRP trades on the NYSE exchange and files with the SEC under CIK 2017206. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MRP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Millrose Properties, Inc. directly from SEC EDGAR.
AI Quality Score
82.3/100
AI Rank
#15
Revenue
$196.9M
Net Income
$125.9M
Operating Margin
85.2%
MRP key financials by period
Millrose Properties, Inc. reported revenue, net income and margins by fiscal period, from SEC filings.
Period
Form
Revenue
Net income
Operating margin
FY 2025
10-K
$600.5M
$379.9M
81.0%
Institutions holding MRP
Institutional investors reporting a position in Millrose Properties, Inc. on SEC Form 13F.
AI-extracted from the 10-Q filed 2026-08-04 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Millrose generated $196.9M in total revenue for Q2 2026, up 32% YoY, driven by 38% growth in option fee revenues to $195.4M as the homesite portfolio expanded.
Biggest Revenue Drivers
Option fee revenues$195.4M+38% YoY
Reflects continued growth from geographic expansion and counterparty diversification, with Lennar representing 72% of total revenues.
Development loan income$1.5M-82% YoY
$284M payoff of development loan on April 1, 2026 with unaffiliated third party reduced interest income earned.
Biggest Revenue Drivers
Total revenue: $196.9M+32% YoY
Option fee revenues$195.4M+38% YoY
Reflects continued growth from geographic expansion and counterparty diversification, with Lennar representing 72% of total revenues.
Development loan income$1.5M-82% YoY
$284M payoff of development loan on April 1, 2026 with unaffiliated third party reduced interest income earned.
Largest Expense Items
Management Fee expense$29.9M+36% YoY
Calculated as 1.25% per annum of Tangible Assets; higher due to increased homesites under option contracts.
Watch Items from the Filing
Lennar concentration: Lennar represented 72% of Q2 2026 total revenues ($141.5M) and 72% of option fee revenues, with 74% of invested capital deployed through Master Program Agreement.
Debt obligations increased to $2.52B as of June 30, 2026 from $2.14B at year-end 2025. Senior Notes total $2.0B at fixed rates 6.25-6.375%; Revolving Credit Facility had $485M drawn of $1.335B available.
Development loan portfolio reduced significantly: receivables fell from $329M to $50M following $284M payoff on April 1, 2026; allowance for credit losses reduced by $0.9M related to payoff.
REIT status intent: Company intends to elect REIT taxation for year ended December 31, 2025; must distribute 90% of REIT taxable income. Current effective tax rate on TRS activities is 24.9%.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
