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Millrose Properties vs Hudson Pacific Properties: MRP and HPP compared
Millrose Properties is the larger company: $211M of revenue in its latest quarter (Q3 2026) against $188M for Hudson Pacific Properties (Q2 2026). Millrose Properties is growing faster (+18% against -0.9% a year earlier). Millrose Properties is more profitable, with an operating margin of 85.5% against -55.4%.
Where the money goes: MRP and HPP
Millrose Properties (MRP) · Q3 2026
Millrose Properties, Q3 2026: revenue $211M (+18% year over year), operating margin 85.5%, net earnings $130M, operating cash flow $875M. The chart follows the revenue to costs, profit and cash.
Hudson Pacific Properties (HPP) · Q2 2026
Hudson Pacific Properties, Q2 2026: revenue $188M (-0.9% year over year), operating margin -55.4%, net loss $105M, operating cash flow −$8.0M. The chart follows the revenue to costs, profit and cash.
| Millrose Properties (MRP) | Hudson Pacific Properties (HPP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $211M | $188M |
| Revenue growth, Y/Y | +18% | -0.9% |
| Operating margin | 85.5% | -55.4% |
| Net earnings | $130M | −$105M |
| Net margin | 61.6% | -55.6% |
| Operating cash flow | $875M | −$8.0M |
Where the revenue comes from
Hudson Pacific Properties
- Office: $153M (81%)
- Studio: $35.2M (19%)
Questions
Which is bigger, Millrose Properties or Hudson Pacific Properties?
Millrose Properties is the larger company: $211M of revenue in its latest quarter (Q3 2026) against $188M for Hudson Pacific Properties (Q2 2026).
Is Millrose Properties or Hudson Pacific Properties growing faster?
Millrose Properties is growing faster (+18% against -0.9% a year earlier).
Which is more profitable, Millrose Properties or Hudson Pacific Properties?
Millrose Properties is more profitable, with an operating margin of 85.5% against -55.4%.
More: Millrose Properties earnings · how Millrose Properties makes money · Hudson Pacific Properties earnings · how Hudson Pacific Properties makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.