Millrose Properties, Inc.
Millrose purchases and develops residential land and sells finished homesites to homebuilders by way of option contracts with predetermined costs and takedown schedules. Millrose serves as a solution for homebuilders seeking to expand access to finished homesites while implementing an asset-light strategy. As fully developed homesites are sold by Millrose, capital is recycled into future land acq… Read more
Millrose Properties, Inc. (MRP) - Net Assets
Latest net assets as of September 2025: $5.86 Billion USD
Based on the latest financial reports, Millrose Properties, Inc. (MRP) has net assets worth $5.86 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($9.02 Billion) and total liabilities ($3.17 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $5.86 Billion |
| % of Total Assets | 64.92% |
| Annual Growth Rate | -17.76% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 28.62 |
Millrose Properties, Inc. - Net Assets Trend (2022–2024)
This chart illustrates how Millrose Properties, Inc.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Millrose Properties, Inc. (2022–2024)
The table below shows the annual net assets of Millrose Properties, Inc. from 2022 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $5.16 Billion | +15.69% |
| 2023-12-31 | $4.46 Billion | -41.55% |
| 2022-12-31 | $7.63 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Millrose Properties, Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $5.16 Billion | 100.00% |
| Total Equity | $5.16 Billion | 100.00% |
Millrose Properties, Inc. Competitors by Market Cap
The table below lists competitors of Millrose Properties, Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
China Satellite Communications Co Ltd
SHG:601698
|
$4.53 Billion |
|
Ringkjoebing Landbobank A/S
CO:RILBA
|
$4.53 Billion |
|
CMS ENERGY PRF.SH.C DL25
F:CSG0
|
$4.53 Billion |
|
Asia Potash International Investment Guangzhou Co Ltd
SHE:000893
|
$4.53 Billion |
|
Energy Fuels Inc
NYSE MKT:UUUU
|
$4.52 Billion |
|
Bank Ozk
NASDAQ:OZK
|
$4.52 Billion |
|
Lundin Mining Corporation
PINK:LUNMF
|
$4.52 Billion |
|
A2A S.p.A
OTCGREY:AEMMF
|
$4.51 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Millrose Properties, Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,458,961,000 to 5,158,372,000, a change of 699,411,000 (15.7%).
- Net loss of 246,221,000 reduced equity.
- Share repurchases of 930,695,000 reduced equity.
- Other factors increased equity by 1,876,327,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-246.22 Million | -4.77% |
| Share Repurchases | $930.70 Million | -18.04% |
| Other Changes | $1.88 Billion | +36.37% |
| Total Change | $- | 15.69% |
Book Value vs Market Value Analysis
This analysis compares Millrose Properties, Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.95x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.52x to 0.95x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2022-12-31 | $56.51 | $29.51 | x |
| 2023-12-31 | $33.03 | $29.51 | x |
| 2024-12-31 | $31.07 | $29.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Millrose Properties, Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -4.77%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.06x
- Recent ROE (-4.77%) is below the historical average (-3.79%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | -1.89% | 0.00% | 0.00x | 1.05x | $-907.13 Million |
| 2023 | -4.70% | 0.00% | 0.00x | 1.06x | $-655.69 Million |
| 2024 | -4.77% | 0.00% | 0.00x | 1.06x | $-762.06 Million |
Industry Comparison
This section compares Millrose Properties, Inc.'s net assets metrics with peer companies in the REIT - Residential industry.
Industry Context
- Industry: REIT - Residential
- Average net assets among peers: $1,567,460,600
- Average return on equity (ROE) among peers: 0.30%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Millrose Properties, Inc. (MRP) | $5.86 Billion | -1.89% | 0.54x | $4.53 Billion |
| Apartment Investment and Management Co (AIV) | $1.90 Billion | 3.39% | 1.24x | $560.76 Million |
| American Homes 4 Rent (AMH) | $3.47 Million | -1.21% | 0.01x | $9.13 Billion |
| Altarea SCA (ATRRF) | $807.10 Million | -58.59% | 3.65x | $599.60 Million |
| AvalonBay Communities Inc (AVB) | $10.99 Billion | 7.15% | 0.74x | $22.59 Billion |
| Bluerock Homes Trust Inc. (BHM) | $461.97 Million | 7.43% | 0.17x | $26.77 Million |
| Boardwalk Real Estate Investment Trust (BOWFF) | $8.10 Million | 4.94% | 13.70x | $1.81 Billion |
| BRT Realty Trust (BRT) | $132.06 Million | 9.09% | 0.50x | $165.50 Million |
| BSR Real Estate Investment Trust (BSRTF) | $975.75 Million | 23.29% | 1.11x | $404.42 Million |
| Canadian Apartment Properties REIT (CDPYF) | $204.11 Million | 8.76% | 1.59x | $4.34 Billion |
| Clipper Realty Inc (CLPR) | $185.59 Million | -1.27% | 4.67x | $39.85 Million |