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How Millrose Properties (MRP) makes money
Millrose Properties (MRP) made $211M of revenue in the third quarter 2026 (Q3 2026), +18% from a year earlier. Of every dollar of revenue, 86¢ was left as operating profit, 62¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $211M | 100.0% |
| Operating profit | $180M | 85.5% |
| Income tax | $4.9M | 2.3% |
| Net earnings | $130M | 61.6% |
| Operating cash flow | $875M | 414.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $211M | +18% |
| Q2 2026 | $197M | +32% |
| Q1 2026 | $195M | +136% |
| Q4 2025 | $190M | — |
| Q3 2025 | $179M | — |
| Q2 2025 | $149M | — |
| Q1 2025 | $82.7M | — |
From Millrose Properties' 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Millrose Properties make money?
Millrose Properties (MRP) made $211M of revenue in the third quarter 2026 (Q3 2026), +18% from a year earlier. Of every dollar of revenue, 86¢ was left as operating profit, 62¢ was left as net earnings.
What is Millrose Properties' profit margin?
Net earnings were $130M, 61.6% of revenue, in the third quarter 2026; the operating margin was 85.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.