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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $189.5M, roughly 1.3× Millrose Properties, Inc.).
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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
MRP vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $189.5M | $253.4M |
| Net Profit | $122.2M | — |
| Gross Margin | — | — |
| Operating Margin | 84.8% | 28.7% |
| Net Margin | 64.5% | — |
| Revenue YoY | — | 62.7% |
| Net Profit YoY | 285.8% | — |
| EPS (diluted) | $0.74 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $179.3M | $244.7M | ||
| Q2 25 | $149.0M | $203.3M | ||
| Q1 25 | $82.7M | $174.6M | ||
| Q4 24 | — | $155.8M | ||
| Q3 24 | — | $148.5M | ||
| Q2 24 | — | $131.1M | ||
| Q1 24 | — | $118.5M |
| Q4 25 | $122.2M | — | ||
| Q3 25 | $105.1M | $51.5M | ||
| Q2 25 | $112.8M | $46.5M | ||
| Q1 25 | $39.8M | $42.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $30.5M | ||
| Q2 24 | — | $25.7M | ||
| Q1 24 | — | $26.4M |
| Q4 25 | 84.8% | 28.7% | ||
| Q3 25 | 85.3% | 27.4% | ||
| Q2 25 | 85.1% | 29.5% | ||
| Q1 25 | 55.2% | 30.8% | ||
| Q4 24 | — | 28.9% | ||
| Q3 24 | — | 25.9% | ||
| Q2 24 | — | 25.5% | ||
| Q1 24 | — | 29.0% |
| Q4 25 | 64.5% | — | ||
| Q3 25 | 58.6% | 21.0% | ||
| Q2 25 | 75.7% | 22.9% | ||
| Q1 25 | 48.1% | 24.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 20.5% | ||
| Q2 24 | — | 19.6% | ||
| Q1 24 | — | 22.3% |
| Q4 25 | $0.74 | $2.05 | ||
| Q3 25 | $0.63 | $1.87 | ||
| Q2 25 | $0.68 | $1.68 | ||
| Q1 25 | $0.39 | $1.57 | ||
| Q4 24 | — | $1.29 | ||
| Q3 24 | — | $1.15 | ||
| Q2 24 | — | $1.00 | ||
| Q1 24 | — | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.9B | $942.7M |
| Total Assets | $9.3B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.0M | $106.9M | ||
| Q3 25 | $242.6M | $111.7M | ||
| Q2 25 | $66.6M | $81.3M | ||
| Q1 25 | $89.5M | $119.3M | ||
| Q4 24 | — | $80.4M | ||
| Q3 24 | — | $86.5M | ||
| Q2 24 | — | $47.8M | ||
| Q1 24 | — | $61.4M |
| Q4 25 | $5.9B | $942.7M | ||
| Q3 25 | $5.9B | $878.1M | ||
| Q2 25 | $5.9B | $847.2M | ||
| Q1 25 | $5.9B | $790.4M | ||
| Q4 24 | — | $729.0M | ||
| Q3 24 | — | $703.3M | ||
| Q2 24 | — | $532.6M | ||
| Q1 24 | — | $501.7M |
| Q4 25 | $9.3B | $3.1B | ||
| Q3 25 | $9.0B | $2.9B | ||
| Q2 25 | $8.0B | $2.8B | ||
| Q1 25 | $7.2B | $2.4B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | — | $409.0M |
| FCF MarginFCF / Revenue | — | 161.4% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 30.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | $409.1M | ||
| Q3 25 | $123.1M | $83.6M | ||
| Q2 25 | $109.1M | $120.9M | ||
| Q1 25 | $21.3M | $87.2M | ||
| Q4 24 | — | $261.2M | ||
| Q3 24 | — | $100.3M | ||
| Q2 24 | — | $55.1M | ||
| Q1 24 | — | $33.1M |
| Q4 25 | — | $409.0M | ||
| Q3 25 | — | $83.6M | ||
| Q2 25 | — | $120.8M | ||
| Q1 25 | — | $87.1M | ||
| Q4 24 | — | $260.9M | ||
| Q3 24 | — | $100.1M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 161.4% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 59.4% | ||
| Q1 25 | — | 49.9% | ||
| Q4 24 | — | 167.5% | ||
| Q3 24 | — | 67.4% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | 30.05× | — | ||
| Q3 25 | 1.17× | 1.63× | ||
| Q2 25 | 0.97× | 2.60× | ||
| Q1 25 | 0.53× | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 2.14× | ||
| Q1 24 | — | 1.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
