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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and Paymentus Holdings, Inc. (PAY). Click either name above to swap in a different company.
Paymentus Holdings, Inc. is the larger business by last-quarter revenue ($330.5M vs $194.9M, roughly 1.7× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 63.0% vs 6.3%, a 56.8% gap on every dollar of revenue. On growth, Millrose Properties, Inc. posted the faster year-over-year revenue change (135.7% vs 28.1%).
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.
Paymentus Holdings, Inc. is a leading cloud-based bill payment and customer engagement technology provider. It offers integrated digital payment solutions, billing automation tools, and self-service portals for enterprises across utilities, financial services, government, healthcare, and telecommunications segments, primarily operating in the North American market.
MRP vs PAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $194.9M | $330.5M |
| Net Profit | $122.9M | $20.7M |
| Gross Margin | — | 25.4% |
| Operating Margin | 85.2% | 7.3% |
| Net Margin | 63.0% | 6.3% |
| Revenue YoY | 135.7% | 28.1% |
| Net Profit YoY | 208.7% | 57.2% |
| EPS (diluted) | $0.74 | $0.16 |
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 | $330.5M | ||
| Q3 25 | $179.3M | $310.7M | ||
| Q2 25 | $149.0M | $280.1M | ||
| Q1 25 | $82.7M | $275.2M | ||
| Q4 24 | — | $257.9M | ||
| Q3 24 | — | $231.6M | ||
| Q2 24 | — | $197.4M |
| Q1 26 | $122.9M | — | ||
| Q4 25 | $122.2M | $20.7M | ||
| Q3 25 | $105.1M | $17.7M | ||
| Q2 25 | $112.8M | $14.7M | ||
| Q1 25 | $39.8M | $13.8M | ||
| Q4 24 | — | $13.1M | ||
| Q3 24 | — | $14.4M | ||
| Q2 24 | — | $9.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 25.4% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 25.5% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | — | 25.6% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 29.8% |
| Q1 26 | 85.2% | — | ||
| Q4 25 | 84.8% | 7.3% | ||
| Q3 25 | 85.3% | 6.4% | ||
| Q2 25 | 85.1% | 5.7% | ||
| Q1 25 | 55.2% | 5.7% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | — | 5.2% |
| Q1 26 | 63.0% | — | ||
| Q4 25 | 64.5% | 6.3% | ||
| Q3 25 | 58.6% | 5.7% | ||
| Q2 25 | 75.7% | 5.3% | ||
| Q1 25 | 48.1% | 5.0% | ||
| Q4 24 | — | 5.1% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 4.7% |
| Q1 26 | $0.74 | — | ||
| Q4 25 | $0.74 | $0.16 | ||
| Q3 25 | $0.63 | $0.14 | ||
| Q2 25 | $0.68 | $0.11 | ||
| Q1 25 | $0.39 | $0.11 | ||
| Q4 24 | — | $0.11 | ||
| Q3 24 | — | $0.11 | ||
| Q2 24 | — | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $320.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.9B | $560.4M |
| Total Assets | $9.6B | $667.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $35.0M | $320.9M | ||
| Q3 25 | $242.6M | $287.9M | ||
| Q2 25 | $66.6M | $266.4M | ||
| Q1 25 | $89.5M | $245.8M | ||
| Q4 24 | — | $205.9M | ||
| Q3 24 | — | $187.5M | ||
| Q2 24 | — | $188.8M |
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $560.4M | ||
| Q3 25 | $5.9B | $537.4M | ||
| Q2 25 | $5.9B | $516.7M | ||
| Q1 25 | $5.9B | $500.4M | ||
| Q4 24 | — | $485.6M | ||
| Q3 24 | — | $468.8M | ||
| Q2 24 | — | $451.6M |
| Q1 26 | $9.6B | — | ||
| Q4 25 | $9.3B | $667.9M | ||
| Q3 25 | $9.0B | $644.4M | ||
| Q2 25 | $8.0B | $609.5M | ||
| Q1 25 | $7.2B | $590.9M | ||
| Q4 24 | — | $576.2M | ||
| Q3 24 | — | $552.9M | ||
| Q2 24 | — | $527.7M |
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 | — | $45.1M |
| Free Cash FlowOCF − Capex | — | $45.0M |
| FCF MarginFCF / Revenue | — | 13.6% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | 2.18× |
| TTM Free Cash FlowTrailing 4 quarters | — | $161.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.7B | $45.1M | ||
| Q3 25 | $123.1M | $35.1M | ||
| Q2 25 | $109.1M | $31.5M | ||
| Q1 25 | $21.3M | $50.4M | ||
| Q4 24 | — | $27.9M | ||
| Q3 24 | — | $6.7M | ||
| Q2 24 | — | $18.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $45.0M | ||
| Q3 25 | — | $35.0M | ||
| Q2 25 | — | $31.4M | ||
| Q1 25 | — | $50.4M | ||
| Q4 24 | — | $27.8M | ||
| Q3 24 | — | $6.7M | ||
| Q2 24 | — | $17.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 11.3% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | 18.3% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 9.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 30.05× | 2.18× | ||
| Q3 25 | 1.17× | 1.98× | ||
| Q2 25 | 0.97× | 2.14× | ||
| Q1 25 | 0.53× | 3.65× | ||
| Q4 24 | — | 2.12× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 1.93× |
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% |
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
