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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $189.5M, roughly 1.3× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs 5.0%, a 59.5% gap on every dollar of revenue.
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.
MRP vs OSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $189.5M | $242.1M |
| Net Profit | $122.2M | $12.1M |
| Gross Margin | — | — |
| Operating Margin | 84.8% | 6.8% |
| Net Margin | 64.5% | 5.0% |
| Revenue YoY | — | 11.5% |
| Net Profit YoY | 285.8% | -16.2% |
| EPS (diluted) | $0.74 | $0.12 |
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 | $242.1M | ||
| Q3 25 | $179.3M | $258.5M | ||
| Q2 25 | $149.0M | $240.7M | ||
| Q1 25 | $82.7M | $219.6M | ||
| Q4 24 | — | $217.2M | ||
| Q3 24 | — | $241.7M | ||
| Q2 24 | — | $224.9M | ||
| Q1 24 | — | $211.2M |
| Q4 25 | $122.2M | $12.1M | ||
| Q3 25 | $105.1M | $24.3M | ||
| Q2 25 | $112.8M | $19.9M | ||
| Q1 25 | $39.8M | $15.3M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | — | $21.6M | ||
| Q2 24 | — | $15.8M | ||
| Q1 24 | — | $21.2M |
| Q4 25 | 84.8% | 6.8% | ||
| Q3 25 | 85.3% | 10.2% | ||
| Q2 25 | 85.1% | 9.2% | ||
| Q1 25 | 55.2% | 7.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 8.4% | ||
| Q1 24 | — | 8.0% |
| Q4 25 | 64.5% | 5.0% | ||
| Q3 25 | 58.6% | 9.4% | ||
| Q2 25 | 75.7% | 8.3% | ||
| Q1 25 | 48.1% | 7.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | 7.0% | ||
| Q1 24 | — | 10.0% |
| Q4 25 | $0.74 | $0.12 | ||
| Q3 25 | $0.63 | $0.23 | ||
| Q2 25 | $0.68 | $0.19 | ||
| Q1 25 | $0.39 | $0.15 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.15 | ||
| Q1 24 | — | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $35.0M | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $5.9B | $542.6M |
| Total Assets | $9.3B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.0M | $16.3M | ||
| Q3 25 | $242.6M | $29.6M | ||
| Q2 25 | $66.6M | $35.0M | ||
| Q1 25 | $89.5M | $22.6M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | — | $48.8M | ||
| Q2 24 | — | $62.5M | ||
| Q1 24 | — | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
| Q4 25 | $5.9B | $542.6M | ||
| Q3 25 | $5.9B | $552.8M | ||
| Q2 25 | $5.9B | $548.3M | ||
| Q1 25 | $5.9B | $530.6M | ||
| Q4 24 | — | $554.5M | ||
| Q3 24 | — | $540.1M | ||
| Q2 24 | — | $532.7M | ||
| Q1 24 | — | $515.5M |
| Q4 25 | $9.3B | $707.1M | ||
| Q3 25 | $9.0B | $732.6M | ||
| Q2 25 | $8.0B | $731.8M | ||
| Q1 25 | $7.2B | $708.7M | ||
| Q4 24 | — | $746.4M | ||
| Q3 24 | — | $734.0M | ||
| Q2 24 | — | $756.8M | ||
| Q1 24 | — | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $3.7B | $20.0M |
| Free Cash FlowOCF − Capex | — | $14.9M |
| FCF MarginFCF / Revenue | — | 6.2% |
| Capex IntensityCapex / Revenue | — | 2.1% |
| Cash ConversionOCF / Net Profit | 30.05× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | $20.0M | ||
| Q3 25 | $123.1M | $33.2M | ||
| Q2 25 | $109.1M | $20.3M | ||
| Q1 25 | $21.3M | $10.1M | ||
| Q4 24 | — | $16.6M | ||
| Q3 24 | — | $28.6M | ||
| Q2 24 | — | $18.7M | ||
| Q1 24 | — | $15.0M |
| Q4 25 | — | $14.9M | ||
| Q3 25 | — | $27.6M | ||
| Q2 25 | — | $17.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | — | $17.6M | ||
| Q1 24 | — | $13.7M |
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 6.5% |
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.6% |
| Q4 25 | 30.05× | 1.65× | ||
| Q3 25 | 1.17× | 1.36× | ||
| Q2 25 | 0.97× | 1.02× | ||
| Q1 25 | 0.53× | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRP
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
