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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and PicoCELA Inc. (PCLA). Click either name above to swap in a different company.
PicoCELA Inc. is the larger business by last-quarter revenue ($252.6M vs $189.5M, roughly 1.3× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs -125.2%, a 189.7% 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.
PicoCELA Inc. is a global technology company specializing in low-power, high-reliability wireless connectivity solutions, including Wi-Fi HaLow modules and edge network infrastructure. It caters to industrial IoT, smart city, retail, and smart home segments, with a primary operational footprint across Asia, North America, and European markets.
MRP vs PCLA — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $189.5M | $252.6M |
| Net Profit | $122.2M | $-316.2M |
| Gross Margin | — | — |
| Operating Margin | 84.8% | -114.8% |
| Net Margin | 64.5% | -125.2% |
| Revenue YoY | — | — |
| Net Profit YoY | 285.8% | — |
| EPS (diluted) | $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 | $189.5M | — | ||
| Q3 25 | $179.3M | — | ||
| Q2 25 | $149.0M | — | ||
| Q1 25 | $82.7M | $252.6M |
| Q4 25 | $122.2M | — | ||
| Q3 25 | $105.1M | — | ||
| Q2 25 | $112.8M | — | ||
| Q1 25 | $39.8M | $-316.2M |
| Q4 25 | 84.8% | — | ||
| Q3 25 | 85.3% | — | ||
| Q2 25 | 85.1% | — | ||
| Q1 25 | 55.2% | -114.8% |
| Q4 25 | 64.5% | — | ||
| Q3 25 | 58.6% | — | ||
| Q2 25 | 75.7% | — | ||
| Q1 25 | 48.1% | -125.2% |
| Q4 25 | $0.74 | — | ||
| Q3 25 | $0.63 | — | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $0.39 | — |
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 | $456.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.9B | $354.8M |
| Total Assets | $9.3B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.0M | — | ||
| Q3 25 | $242.6M | — | ||
| Q2 25 | $66.6M | — | ||
| Q1 25 | $89.5M | $456.8M |
| Q4 25 | $5.9B | — | ||
| Q3 25 | $5.9B | — | ||
| Q2 25 | $5.9B | — | ||
| Q1 25 | $5.9B | $354.8M |
| Q4 25 | $9.3B | — | ||
| Q3 25 | $9.0B | — | ||
| Q2 25 | $8.0B | — | ||
| Q1 25 | $7.2B | $1.2B |
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 | $-245.6M |
| Free Cash FlowOCF − Capex | — | $-256.6M |
| FCF MarginFCF / Revenue | — | -101.6% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | 30.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | — | ||
| Q3 25 | $123.1M | — | ||
| Q2 25 | $109.1M | — | ||
| Q1 25 | $21.3M | $-245.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-256.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -101.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 4.3% |
| Q4 25 | 30.05× | — | ||
| Q3 25 | 1.17× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 0.53× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRP
Segment breakdown not available.
PCLA
| Revenue from product | $179.1M | 71% |
| Revenue from SaaS, Maintenance and others | $42.4M | 17% |
| Revenue from product – related party | $31.0M | 12% |
