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Side-by-side financial comparison of HCI Group, Inc. (HCI) and Millrose Properties, Inc. (MRP). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $189.5M, roughly 1.3× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs 39.7%, a 24.8% gap on every dollar of revenue.
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
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.
HCI vs MRP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $189.5M |
| Net Profit | $97.7M | $122.2M |
| Gross Margin | — | — |
| Operating Margin | 58.5% | 84.8% |
| Net Margin | 39.7% | 64.5% |
| Revenue YoY | 52.1% | — |
| Net Profit YoY | 3679.2% | 285.8% |
| EPS (diluted) | $7.29 | $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 | $246.2M | $189.5M | ||
| Q3 25 | $216.3M | $179.3M | ||
| Q2 25 | $221.9M | $149.0M | ||
| Q1 25 | $216.4M | $82.7M | ||
| Q4 24 | $161.9M | — | ||
| Q3 24 | $175.3M | — | ||
| Q2 24 | $206.2M | — | ||
| Q1 24 | $206.6M | — |
| Q4 25 | $97.7M | $122.2M | ||
| Q3 25 | $65.5M | $105.1M | ||
| Q2 25 | $66.2M | $112.8M | ||
| Q1 25 | $69.7M | $39.8M | ||
| Q4 24 | $2.6M | — | ||
| Q3 24 | $5.7M | — | ||
| Q2 24 | $54.1M | — | ||
| Q1 24 | $47.6M | — |
| Q4 25 | 58.5% | 84.8% | ||
| Q3 25 | 41.9% | 85.3% | ||
| Q2 25 | 42.5% | 85.1% | ||
| Q1 25 | 46.4% | 55.2% | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | 8.0% | — | ||
| Q2 24 | 36.9% | — | ||
| Q1 24 | 37.5% | — |
| Q4 25 | 39.7% | 64.5% | ||
| Q3 25 | 30.3% | 58.6% | ||
| Q2 25 | 29.8% | 75.7% | ||
| Q1 25 | 32.2% | 48.1% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 23.0% | — |
| Q4 25 | $7.29 | $0.74 | ||
| Q3 25 | $4.90 | $0.63 | ||
| Q2 25 | $5.18 | $0.68 | ||
| Q1 25 | $5.35 | $0.39 | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $0.52 | — | ||
| Q2 24 | $4.24 | — | ||
| Q1 24 | $3.81 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.2B | $35.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $5.9B |
| Total Assets | $2.5B | $9.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $35.0M | ||
| Q3 25 | $987.9M | $242.6M | ||
| Q2 25 | $947.2M | $66.6M | ||
| Q1 25 | $754.5M | $89.5M | ||
| Q4 24 | $532.5M | — | ||
| Q3 24 | $518.8M | — | ||
| Q2 24 | $445.8M | — | ||
| Q1 24 | $655.4M | — |
| Q4 25 | $1.0B | $5.9B | ||
| Q3 25 | $821.8M | $5.9B | ||
| Q2 25 | $758.6M | $5.9B | ||
| Q1 25 | $522.7M | $5.9B | ||
| Q4 24 | $453.3M | — | ||
| Q3 24 | $455.3M | — | ||
| Q2 24 | $447.3M | — | ||
| Q1 24 | $395.7M | — |
| Q4 25 | $2.5B | $9.3B | ||
| Q3 25 | $2.3B | $9.0B | ||
| Q2 25 | $2.4B | $8.0B | ||
| Q1 25 | $2.3B | $7.2B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.8B | — |
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 | $444.4M | $3.7B |
| Free Cash FlowOCF − Capex | $440.8M | — |
| FCF MarginFCF / Revenue | 179.0% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 4.55× | 30.05× |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $3.7B | ||
| Q3 25 | $26.7M | $123.1M | ||
| Q2 25 | $145.0M | $109.1M | ||
| Q1 25 | $162.0M | $21.3M | ||
| Q4 24 | $331.8M | — | ||
| Q3 24 | $104.1M | — | ||
| Q2 24 | $-29.0M | — | ||
| Q1 24 | $182.0M | — |
| Q4 25 | $440.8M | — | ||
| Q3 25 | $25.9M | — | ||
| Q2 25 | $144.5M | — | ||
| Q1 25 | $160.3M | — | ||
| Q4 24 | $327.8M | — | ||
| Q3 24 | $103.2M | — | ||
| Q2 24 | $-30.1M | — | ||
| Q1 24 | $181.0M | — |
| Q4 25 | 179.0% | — | ||
| Q3 25 | 12.0% | — | ||
| Q2 25 | 65.1% | — | ||
| Q1 25 | 74.1% | — | ||
| Q4 24 | 202.5% | — | ||
| Q3 24 | 58.9% | — | ||
| Q2 24 | -14.6% | — | ||
| Q1 24 | 87.6% | — |
| Q4 25 | 1.5% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 2.5% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.5% | — |
| Q4 25 | 4.55× | 30.05× | ||
| Q3 25 | 0.41× | 1.17× | ||
| Q2 25 | 2.19× | 0.97× | ||
| Q1 25 | 2.32× | 0.53× | ||
| Q4 24 | 128.41× | — | ||
| Q3 24 | 18.33× | — | ||
| Q2 24 | -0.54× | — | ||
| Q1 24 | 3.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
MRP
Segment breakdown not available.
