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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and Millrose Properties, Inc. (MRP). Click either name above to swap in a different company.
Millrose Properties, Inc. is the larger business by last-quarter revenue ($189.5M vs $162.5M, roughly 1.2× Bitcoin Depot Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs 3.4%, a 61.1% gap on every dollar of revenue.
Bitcoin Depot Inc. is one of the largest cryptocurrency ATM operators across North America. It provides retail consumers with accessible in-person kiosks to buy and sell Bitcoin and other leading digital assets, alongside online crypto purchase services via bank transfer. Its self-service kiosks are located in high-traffic retail spaces including grocery stores, gas stations and convenience stores.
Millrose Properties, Inc. is a U.S.-based real estate enterprise primarily focused on the acquisition, ownership, operation, and management of income-generating multi-family residential assets. Its core markets span the U.S. Mid-Atlantic and Southeast regions, and it also offers professional property management services to select third-party property owners.
BTM vs MRP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $189.5M |
| Net Profit | $5.5M | $122.2M |
| Gross Margin | — | — |
| Operating Margin | 7.3% | 84.8% |
| Net Margin | 3.4% | 64.5% |
| Revenue YoY | 20.1% | — |
| Net Profit YoY | 690.4% | 285.8% |
| EPS (diluted) | $0.08 | $0.74 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $189.5M | ||
| Q3 25 | $162.5M | $179.3M | ||
| Q2 25 | $172.1M | $149.0M | ||
| Q1 25 | $164.2M | $82.7M | ||
| Q3 24 | $135.3M | — | ||
| Q2 24 | $163.1M | — | ||
| Q1 24 | $138.5M | — | ||
| Q4 23 | $148.4M | — |
| Q4 25 | — | $122.2M | ||
| Q3 25 | $5.5M | $105.1M | ||
| Q2 25 | $6.1M | $112.8M | ||
| Q1 25 | $4.2M | $39.8M | ||
| Q3 24 | $-939.0K | — | ||
| Q2 24 | $-2.6M | — | ||
| Q1 24 | $-1.5M | — | ||
| Q4 23 | $-8.3M | — |
| Q4 25 | — | 84.8% | ||
| Q3 25 | 7.3% | 85.3% | ||
| Q2 25 | 9.2% | 85.1% | ||
| Q1 25 | 10.8% | 55.2% | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 0.5% | — | ||
| Q4 23 | 2.6% | — |
| Q4 25 | — | 64.5% | ||
| Q3 25 | 3.4% | 58.6% | ||
| Q2 25 | 3.5% | 75.7% | ||
| Q1 25 | 2.6% | 48.1% | ||
| Q3 24 | -0.7% | — | ||
| Q2 24 | -1.6% | — | ||
| Q1 24 | -1.1% | — | ||
| Q4 23 | -5.6% | — |
| Q4 25 | — | $0.74 | ||
| Q3 25 | $0.08 | $0.63 | ||
| Q2 25 | $0.16 | $0.68 | ||
| Q1 25 | $0.20 | $0.39 | ||
| Q3 24 | $-0.05 | — | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.25 | — | ||
| Q4 23 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $59.3M | $35.0M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $5.9B |
| Total Assets | $125.3M | $9.3B |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $35.0M | ||
| Q3 25 | $59.3M | $242.6M | ||
| Q2 25 | $48.0M | $66.6M | ||
| Q1 25 | $35.0M | $89.5M | ||
| Q3 24 | $32.2M | — | ||
| Q2 24 | $43.9M | — | ||
| Q1 24 | $42.2M | — | ||
| Q4 23 | $29.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — | ||
| Q4 23 | $22.5M | — |
| Q4 25 | — | $5.9B | ||
| Q3 25 | $21.0M | $5.9B | ||
| Q2 25 | $4.7M | $5.9B | ||
| Q1 25 | $-4.6M | $5.9B | ||
| Q3 24 | $-7.9M | — | ||
| Q2 24 | $4.4M | — | ||
| Q1 24 | $5.0M | — | ||
| Q4 23 | — | — |
| Q4 25 | — | $9.3B | ||
| Q3 25 | $125.3M | $9.0B | ||
| Q2 25 | $109.1M | $8.0B | ||
| Q1 25 | $89.7M | $7.2B | ||
| Q3 24 | $87.4M | — | ||
| Q2 24 | $97.5M | — | ||
| Q1 24 | $90.1M | — | ||
| Q4 23 | $74.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — | ||
| Q4 23 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.6M | $3.7B |
| Free Cash FlowOCF − Capex | $2.5M | — |
| FCF MarginFCF / Revenue | 1.6% | — |
| Capex IntensityCapex / Revenue | 2.5% | — |
| Cash ConversionOCF / Net Profit | 1.20× | 30.05× |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $3.7B | ||
| Q3 25 | $6.6M | $123.1M | ||
| Q2 25 | $10.2M | $109.1M | ||
| Q1 25 | $16.3M | $21.3M | ||
| Q3 24 | $5.8M | — | ||
| Q2 24 | $10.1M | — | ||
| Q1 24 | $1.3M | — | ||
| Q4 23 | $7.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | $2.5M | — | ||
| Q2 25 | $9.8M | — | ||
| Q1 25 | $15.9M | — | ||
| Q3 24 | $-1.0M | — | ||
| Q2 24 | $7.6M | — | ||
| Q1 24 | $789.0K | — | ||
| Q4 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 5.7% | — | ||
| Q1 25 | 9.7% | — | ||
| Q3 24 | -0.8% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 0.6% | — | ||
| Q4 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 0.4% | — | ||
| Q4 23 | — | — |
| Q4 25 | — | 30.05× | ||
| Q3 25 | 1.20× | 1.17× | ||
| Q2 25 | 1.67× | 0.97× | ||
| Q1 25 | 3.88× | 0.53× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
