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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and RLJ Lodging Trust (RLJ). Click either name above to swap in a different company.
RLJ Lodging Trust is the larger business by last-quarter revenue ($340.0M vs $194.9M, roughly 1.7× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 63.0% vs -1.9%, a 64.9% gap on every dollar of revenue. On growth, Millrose Properties, Inc. posted the faster year-over-year revenue change (135.7% vs 3.6%).
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.
The RLJ Companies is an American asset management firm owned by entrepreneur Robert Louis Johnson. After selling Black Entertainment Television in 2001, Johnson's first company, he created RLJ Companies in Bethesda, Maryland. The company's network includes hotel real estate investment, private equity, financial services, asset management, insurance services, car dealerships, sports and entertainment, and video lottery terminal (VLT) gaming. The company is headquartered in Bethesda and has add...
MRP vs RLJ — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $194.9M | $340.0M |
| Net Profit | $122.9M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 85.2% | 8.2% |
| Net Margin | 63.0% | -1.9% |
| Revenue YoY | 135.7% | 3.6% |
| Net Profit YoY | 208.7% | — |
| 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.
| Q1 26 | $194.9M | $340.0M | ||
| Q4 25 | $189.5M | $328.6M | ||
| Q3 25 | $179.3M | $330.0M | ||
| Q2 25 | $149.0M | $363.1M | ||
| Q1 25 | $82.7M | $328.1M | ||
| Q4 24 | — | $330.0M | ||
| Q3 24 | — | $345.7M | ||
| Q2 24 | — | $369.3M |
| Q1 26 | $122.9M | $-6.4M | ||
| Q4 25 | $122.2M | $430.0K | ||
| Q3 25 | $105.1M | $-3.7M | ||
| Q2 25 | $112.8M | $28.5M | ||
| Q1 25 | $39.8M | $3.4M | ||
| Q4 24 | — | $5.4M | ||
| Q3 24 | — | $20.6M | ||
| Q2 24 | — | $37.1M |
| Q1 26 | 85.2% | 8.2% | ||
| Q4 25 | 84.8% | 0.2% | ||
| Q3 25 | 85.3% | -1.0% | ||
| Q2 25 | 85.1% | 8.0% | ||
| Q1 25 | 55.2% | 1.1% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 6.1% | ||
| Q2 24 | — | 10.2% |
| Q1 26 | 63.0% | -1.9% | ||
| Q4 25 | 64.5% | 0.1% | ||
| Q3 25 | 58.6% | -1.1% | ||
| Q2 25 | 75.7% | 7.8% | ||
| Q1 25 | 48.1% | 1.0% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 10.0% |
| Q1 26 | $0.74 | — | ||
| Q4 25 | $0.74 | $-0.05 | ||
| Q3 25 | $0.63 | $-0.07 | ||
| Q2 25 | $0.68 | $0.15 | ||
| Q1 25 | $0.39 | $-0.02 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | — | $0.09 | ||
| Q2 24 | — | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $353.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.9B | $2.1B |
| Total Assets | $9.6B | $4.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $353.1M | ||
| Q4 25 | $35.0M | $410.2M | ||
| Q3 25 | $242.6M | $374.8M | ||
| Q2 25 | $66.6M | $373.9M | ||
| Q1 25 | $89.5M | $347.5M | ||
| Q4 24 | — | $409.8M | ||
| Q3 24 | — | $385.4M | ||
| Q2 24 | — | $371.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B |
| Q1 26 | $5.9B | $2.1B | ||
| Q4 25 | $5.9B | $2.2B | ||
| Q3 25 | $5.9B | $2.2B | ||
| Q2 25 | $5.9B | $2.2B | ||
| Q1 25 | $5.9B | $2.2B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | $9.6B | $4.7B | ||
| Q4 25 | $9.3B | $4.7B | ||
| Q3 25 | $9.0B | $4.8B | ||
| Q2 25 | $8.0B | $4.8B | ||
| Q1 25 | $7.2B | $4.8B | ||
| Q4 24 | — | $4.9B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | — | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | 0.97× | ||
| Q3 24 | — | 0.96× | ||
| Q2 24 | — | 0.95× |
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% |
RLJ
| Room revenue | $275.3M | 81% |
| Food and beverage revenue | $39.7M | 12% |
| Other revenue | $25.0M | 7% |
