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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
New Fortress Energy Inc. is the larger business by last-quarter revenue ($326.2M vs $194.9M, roughly 1.7× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 63.0% vs -259.7%, a 322.7% gap on every dollar of revenue. On growth, Millrose Properties, Inc. posted the faster year-over-year revenue change (135.7% vs -7.0%).
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.
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
MRP vs NFE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $194.9M | $326.2M |
| Net Profit | $122.9M | $-847.1M |
| Gross Margin | — | 35.5% |
| Operating Margin | 85.2% | -193.0% |
| Net Margin | 63.0% | -259.7% |
| Revenue YoY | 135.7% | -7.0% |
| Net Profit YoY | 208.7% | -277.4% |
| EPS (diluted) | $0.74 | $-3.03 |
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 | $189.5M | $326.2M | ||
| Q3 25 | $179.3M | $240.3M | ||
| Q2 25 | $149.0M | $228.1M | ||
| Q1 25 | $82.7M | $384.9M | ||
| Q4 24 | — | $350.7M | ||
| Q3 24 | — | $446.0M | ||
| Q2 24 | — | $291.2M |
| Q1 26 | $122.9M | — | ||
| Q4 25 | $122.2M | $-847.1M | ||
| Q3 25 | $105.1M | $-263.0M | ||
| Q2 25 | $112.8M | $-546.5M | ||
| Q1 25 | $39.8M | $-175.4M | ||
| Q4 24 | — | $-224.4M | ||
| Q3 24 | — | $9.3M | ||
| Q2 24 | — | $-88.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 21.4% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 23.8% |
| Q1 26 | 85.2% | — | ||
| Q4 25 | 84.8% | -193.0% | ||
| Q3 25 | 85.3% | -37.4% | ||
| Q2 25 | 85.1% | -170.3% | ||
| Q1 25 | 55.2% | -3.3% | ||
| Q4 24 | — | 65.0% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | 12.3% |
| Q1 26 | 63.0% | — | ||
| Q4 25 | 64.5% | -259.7% | ||
| Q3 25 | 58.6% | -109.4% | ||
| Q2 25 | 75.7% | -239.6% | ||
| Q1 25 | 48.1% | -45.6% | ||
| Q4 24 | — | -64.0% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | -30.5% |
| Q1 26 | $0.74 | — | ||
| Q4 25 | $0.74 | $-3.03 | ||
| Q3 25 | $0.63 | $-0.96 | ||
| Q2 25 | $0.68 | $-1.99 | ||
| Q1 25 | $0.39 | $-0.65 | ||
| Q4 24 | — | $-1.10 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $226.5M |
| Total DebtLower is stronger | — | $8.2B |
| Stockholders' EquityBook value | $5.9B | $182.6M |
| Total Assets | $9.6B | $10.6B |
| Debt / EquityLower = less leverage | — | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $35.0M | $226.5M | ||
| Q3 25 | $242.6M | $145.2M | ||
| Q2 25 | $66.6M | $551.1M | ||
| Q1 25 | $89.5M | $447.9M | ||
| Q4 24 | — | $492.9M | ||
| Q3 24 | — | $90.8M | ||
| Q2 24 | — | $133.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $8.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $182.6M | ||
| Q3 25 | $5.9B | $1.1B | ||
| Q2 25 | $5.9B | $1.3B | ||
| Q1 25 | $5.9B | $1.8B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | $9.6B | — | ||
| Q4 25 | $9.3B | $10.6B | ||
| Q3 25 | $9.0B | $12.0B | ||
| Q2 25 | $8.0B | $12.0B | ||
| Q1 25 | $7.2B | $13.1B | ||
| Q4 24 | — | $12.9B | ||
| Q3 24 | — | $12.0B | ||
| Q2 24 | — | $11.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 44.78× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.74× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $-76.2M |
| Free Cash FlowOCF − Capex | — | $-134.8M |
| FCF MarginFCF / Revenue | — | -41.3% |
| Capex IntensityCapex / Revenue | — | 18.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.7B | $-76.2M | ||
| Q3 25 | $123.1M | $-171.0M | ||
| Q2 25 | $109.1M | $-329.0M | ||
| Q1 25 | $21.3M | $-7.2M | ||
| Q4 24 | — | $445.3M | ||
| Q3 24 | — | $-20.0M | ||
| Q2 24 | — | $113.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-134.8M | ||
| Q3 25 | — | $-231.6M | ||
| Q2 25 | — | $-726.7M | ||
| Q1 25 | — | $-262.3M | ||
| Q4 24 | — | $-210.3M | ||
| Q3 24 | — | $-367.0M | ||
| Q2 24 | — | $-493.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | -41.3% | ||
| Q3 25 | — | -96.4% | ||
| Q2 25 | — | -318.6% | ||
| Q1 25 | — | -68.2% | ||
| Q4 24 | — | -60.0% | ||
| Q3 24 | — | -82.3% | ||
| Q2 24 | — | -169.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 18.0% | ||
| Q3 25 | — | 25.2% | ||
| Q2 25 | — | 174.4% | ||
| Q1 25 | — | 66.3% | ||
| Q4 24 | — | 187.0% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 208.4% |
| Q1 26 | — | — | ||
| Q4 25 | 30.05× | — | ||
| Q3 25 | 1.17× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -2.15× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRP
| Option fee revenues | $185.3M | 95% |
| Development loan income | $9.6M | 5% |
NFE
Segment breakdown not available.
