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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $194.9M, roughly 1.3× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 63.0% vs 1.4%, a 61.7% gap on every dollar of revenue. On growth, Millrose Properties, Inc. posted the faster year-over-year revenue change (135.7% vs -9.4%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
MRP vs SDHC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $194.9M | $260.4M |
| Net Profit | $122.9M | $3.5M |
| Gross Margin | — | 19.9% |
| Operating Margin | 85.2% | 6.5% |
| Net Margin | 63.0% | 1.4% |
| Revenue YoY | 135.7% | -9.4% |
| Net Profit YoY | 208.7% | -14.3% |
| EPS (diluted) | $0.74 | $0.39 |
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 | $260.4M | ||
| Q3 25 | $179.3M | $262.0M | ||
| Q2 25 | $149.0M | $223.9M | ||
| Q1 25 | $82.7M | $224.7M | ||
| Q4 24 | — | $287.5M | ||
| Q3 24 | — | $277.8M | ||
| Q2 24 | — | $220.9M |
| Q1 26 | $122.9M | — | ||
| Q4 25 | $122.2M | $3.5M | ||
| Q3 25 | $105.1M | $2.1M | ||
| Q2 25 | $112.8M | $2.4M | ||
| Q1 25 | $39.8M | $2.7M | ||
| Q4 24 | — | $4.1M | ||
| Q3 24 | — | $5.3M | ||
| Q2 24 | — | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 25.5% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | 26.7% |
| Q1 26 | 85.2% | — | ||
| Q4 25 | 84.8% | 6.5% | ||
| Q3 25 | 85.3% | 6.6% | ||
| Q2 25 | 85.1% | 7.7% | ||
| Q1 25 | 55.2% | 8.7% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | — | 14.2% | ||
| Q2 24 | — | 11.7% |
| Q1 26 | 63.0% | — | ||
| Q4 25 | 64.5% | 1.4% | ||
| Q3 25 | 58.6% | 0.8% | ||
| Q2 25 | 75.7% | 1.1% | ||
| Q1 25 | 48.1% | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 1.7% |
| Q1 26 | $0.74 | — | ||
| Q4 25 | $0.74 | $0.39 | ||
| Q3 25 | $0.63 | $0.24 | ||
| Q2 25 | $0.68 | $0.26 | ||
| Q1 25 | $0.39 | $0.30 | ||
| Q4 24 | — | $0.50 | ||
| Q3 24 | — | $0.58 | ||
| Q2 24 | — | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.9B | $86.7M |
| Total Assets | $9.6B | $557.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $35.0M | $12.7M | ||
| Q3 25 | $242.6M | $14.8M | ||
| Q2 25 | $66.6M | $16.8M | ||
| Q1 25 | $89.5M | $12.7M | ||
| Q4 24 | — | $22.4M | ||
| Q3 24 | — | $23.7M | ||
| Q2 24 | — | $17.3M |
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $86.7M | ||
| Q3 25 | $5.9B | $82.2M | ||
| Q2 25 | $5.9B | $80.0M | ||
| Q1 25 | $5.9B | $76.9M | ||
| Q4 24 | — | $73.6M | ||
| Q3 24 | — | $68.4M | ||
| Q2 24 | — | $62.1M |
| Q1 26 | $9.6B | — | ||
| Q4 25 | $9.3B | $557.6M | ||
| Q3 25 | $9.0B | $571.6M | ||
| Q2 25 | $8.0B | $570.2M | ||
| Q1 25 | $7.2B | $513.9M | ||
| Q4 24 | — | $475.9M | ||
| Q3 24 | — | $460.1M | ||
| Q2 24 | — | $429.3M |
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 | — | $9.8M |
| Free Cash FlowOCF − Capex | — | $8.7M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.7B | $9.8M | ||
| Q3 25 | $123.1M | $22.8M | ||
| Q2 25 | $109.1M | $-28.9M | ||
| Q1 25 | $21.3M | $-34.9M | ||
| Q4 24 | — | $5.5M | ||
| Q3 24 | — | $22.9M | ||
| Q2 24 | — | $39.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | $8.7M | ||
| Q3 25 | — | $21.4M | ||
| Q2 25 | — | $-31.1M | ||
| Q1 25 | — | $-35.9M | ||
| Q4 24 | — | $4.8M | ||
| Q3 24 | — | $22.3M | ||
| Q2 24 | — | $-2.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | -13.9% | ||
| Q1 25 | — | -16.0% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | -1.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 30.05× | 2.77× | ||
| Q3 25 | 1.17× | 10.70× | ||
| Q2 25 | 0.97× | -12.24× | ||
| Q1 25 | 0.53× | -13.01× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | — | 0.01× |
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% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
