Millrose Properties, Inc. (MRP) Form 10-Q — Nov 4, 2026
Millrose Properties reported Q3 2026 revenue of $211.0 million, up 17.7% from $179.3 million a year earlier, with net income of $130.0 million and EPS of $0.78 versus $0.63 in Q3 2025. Nine-month revenue reached $602.8 million with net income of $378.8 million. The homesite option platform grew to $9.9 billion under option contracts, with Invested Capital of $9.2 billion at a 9.3% weighted average yield. Lennar remained the dominant customer at 69% of Q3 revenues, a concentration risk as Millrose diversifies via Dream Finders, JPI, and other counterparties.
Key figures
- Eps
- 0.78
- Revenue
- 211004000
- Net Income
- 130002000
- Revenue Yoy
- 17.7%
- Total Assets
- 10555895000
- Cash Position
- 64535000
- Shares Outstanding
- 166047927
- Q3 2025 eps
- 0.63
- Nine month eps
- 2.28
- Q3 2025 revenue
- 179260000
- Invested capital
- 9245400000
- Nine month revenue
- 602785000
- Weighted avg yield
- 9.3%
- Buyback authorization
- 250000000
- Dividend per share q3
- 0.79
- Nine month net income
- 378767000
- Senior notes offering
- 1000000000
- Option fee revenues q3
- 209480000
- Sfr properties acquired
- 1233
- Future development commitments
- 6700000000
- Lennar revenue concentration q3
- 69%
- Homesites under option contracts
- 9902361000
AI analysis
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