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Side-by-side financial comparison of Essent Group Ltd. (ESNT) and Millrose Properties, Inc. (MRP). Click either name above to swap in a different company.
Essent Group Ltd. is the larger business by last-quarter revenue ($312.4M vs $194.9M, roughly 1.6× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 63.0% vs 49.6%, a 13.4% gap on every dollar of revenue. On growth, Millrose Properties, Inc. posted the faster year-over-year revenue change (135.7% vs -0.8%).
Essentra PLC is a supplier of plastic and fibre products. The company operates internationally from headquarters in Kidlington, Oxfordshire. It is listed on the London Stock Exchange.
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.
ESNT vs MRP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $312.4M | $194.9M |
| Net Profit | $155.0M | $122.9M |
| Gross Margin | — | — |
| Operating Margin | 59.1% | 85.2% |
| Net Margin | 49.6% | 63.0% |
| Revenue YoY | -0.8% | 135.7% |
| Net Profit YoY | -7.7% | 208.7% |
| EPS (diluted) | $1.61 | $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.
| Q1 26 | — | $194.9M | ||
| Q4 25 | $312.4M | $189.5M | ||
| Q3 25 | $311.8M | $179.3M | ||
| Q2 25 | $319.1M | $149.0M | ||
| Q1 25 | $317.6M | $82.7M | ||
| Q4 24 | $315.0M | — | ||
| Q3 24 | $316.6M | — | ||
| Q2 24 | $312.9M | — |
| Q1 26 | — | $122.9M | ||
| Q4 25 | $155.0M | $122.2M | ||
| Q3 25 | $164.2M | $105.1M | ||
| Q2 25 | $195.3M | $112.8M | ||
| Q1 25 | $175.4M | $39.8M | ||
| Q4 24 | $167.9M | — | ||
| Q3 24 | $176.2M | — | ||
| Q2 24 | $203.6M | — |
| Q1 26 | — | 85.2% | ||
| Q4 25 | 59.1% | 84.8% | ||
| Q3 25 | 63.9% | 85.3% | ||
| Q2 25 | 72.4% | 85.1% | ||
| Q1 25 | 65.2% | 55.2% | ||
| Q4 24 | 61.9% | — | ||
| Q3 24 | 65.6% | — | ||
| Q2 24 | 76.4% | — |
| Q1 26 | — | 63.0% | ||
| Q4 25 | 49.6% | 64.5% | ||
| Q3 25 | 52.7% | 58.6% | ||
| Q2 25 | 61.2% | 75.7% | ||
| Q1 25 | 55.2% | 48.1% | ||
| Q4 24 | 53.3% | — | ||
| Q3 24 | 55.6% | — | ||
| Q2 24 | 65.1% | — |
| Q1 26 | — | $0.74 | ||
| Q4 25 | $1.61 | $0.74 | ||
| Q3 25 | $1.67 | $0.63 | ||
| Q2 25 | $1.93 | $0.68 | ||
| Q1 25 | $1.69 | $0.39 | ||
| Q4 24 | $1.59 | — | ||
| Q3 24 | $1.65 | — | ||
| Q2 24 | $1.91 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.8B | $5.9B |
| Total Assets | $7.4B | $9.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $35.0M | ||
| Q3 25 | — | $242.6M | ||
| Q2 25 | — | $66.6M | ||
| Q1 25 | — | $89.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $5.9B | ||
| Q4 25 | $5.8B | $5.9B | ||
| Q3 25 | $5.7B | $5.9B | ||
| Q2 25 | $5.7B | $5.9B | ||
| Q1 25 | $5.7B | $5.9B | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.6B | — | ||
| Q2 24 | $5.4B | — |
| Q1 26 | — | $9.6B | ||
| Q4 25 | $7.4B | $9.3B | ||
| Q3 25 | $7.4B | $9.0B | ||
| Q2 25 | $7.2B | $8.0B | ||
| Q1 25 | $7.2B | $7.2B | ||
| Q4 24 | $7.1B | — | ||
| Q3 24 | $7.1B | — | ||
| Q2 24 | $6.7B | — |
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 | $856.1M | — |
| Free Cash FlowOCF − Capex | $848.7M | — |
| FCF MarginFCF / Revenue | 271.7% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | 5.52× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $856.1M | $3.7B | ||
| Q3 25 | $215.9M | $123.1M | ||
| Q2 25 | $189.5M | $109.1M | ||
| Q1 25 | $221.6M | $21.3M | ||
| Q4 24 | $861.5M | — | ||
| Q3 24 | $229.2M | — | ||
| Q2 24 | $188.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | $848.7M | — | ||
| Q3 25 | $210.6M | — | ||
| Q2 25 | $188.8M | — | ||
| Q1 25 | $221.3M | — | ||
| Q4 24 | $854.8M | — | ||
| Q3 24 | $228.7M | — | ||
| Q2 24 | $187.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 271.7% | — | ||
| Q3 25 | 67.5% | — | ||
| Q2 25 | 59.2% | — | ||
| Q1 25 | 69.7% | — | ||
| Q4 24 | 271.3% | — | ||
| Q3 24 | 72.2% | — | ||
| Q2 24 | 60.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.52× | 30.05× | ||
| Q3 25 | 1.31× | 1.17× | ||
| Q2 25 | 0.97× | 0.97× | ||
| Q1 25 | 1.26× | 0.53× | ||
| Q4 24 | 5.13× | — | ||
| Q3 24 | 1.30× | — | ||
| Q2 24 | 0.93× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESNT
| Mortgage Insurance Segment | $192.4M | 62% |
| Other | $120.0M | 38% |
MRP
| Option fee revenues | $185.3M | 95% |
| Development loan income | $9.6M | 5% |
