Millrose Properties Inc. Class A Common Stock (MRP)
TurnaroundFairStock Score: 86/100 — HIGH CONVICTION
Key Financials
| Current Price | $23.86 |
| Market Cap | $4.0B |
| P/E Ratio | 8.31 |
| ROE | 8.12% |
| Dividend Yield | 10.67% |
| Sector | Real Estate |
AI Analysis
AI-generated, general educational analysis — not personal investment advice.
As a long-time student of Buffett and Graham, I start with what Millrose actually owns: land and capital arrangements that supply finished home sites to builders. That can be a decent niche, but it is not a wide-moat franchise unless the proprietary platform and long-term relationships truly lower costs for builders. FairStock's Lynch category is TURNAROUND, and the filed record supports that: FY2023 and FY2024 had net losses of $209.8M and $246.2M, while FY2025 produced revenue of $600.5M, net income of $379.9M, and diluted EPS of $2.44. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $196.9M, net income $125.9M, and diluted EPS $0.76, up from fiscal Q2 2025 revenue of $149.0M and net income of $112.8M. That trend is encouraging.
In plain English: Millrose owns and finances land for homebuilders, providing ready-to-build lots. The business has turned profitable after earlier losses, with rising quarterly sales and a large dividend, and the stock looks inexpensive compared with its profits and net assets. Still, it uses debt and has mixed financial-health signals, so the low price may reflect real risks.
The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.
Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash
Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)
Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer