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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $189.5M, roughly 1.1× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs -3.1%, a 67.6% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
MRP vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $189.5M | $207.0M |
| Net Profit | $122.2M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 84.8% | 2.2% |
| Net Margin | 64.5% | -3.1% |
| Revenue YoY | — | -6.7% |
| Net Profit YoY | 285.8% | -531.8% |
| EPS (diluted) | $0.74 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $179.3M | $180.2M | ||
| Q2 25 | $149.0M | $207.4M | ||
| Q1 25 | $82.7M | $211.1M | ||
| Q4 24 | — | $221.9M | ||
| Q3 24 | — | $194.0M | ||
| Q2 24 | — | $172.5M | ||
| Q1 24 | — | $85.0M |
| Q4 25 | $122.2M | $-6.4M | ||
| Q3 25 | $105.1M | $-76.7M | ||
| Q2 25 | $112.8M | $-10.1M | ||
| Q1 25 | $39.8M | $975.0K | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $-9.3M | ||
| Q2 24 | — | $-7.3M | ||
| Q1 24 | — | $-2.1M |
| Q4 25 | 84.8% | 2.2% | ||
| Q3 25 | 85.3% | -4.4% | ||
| Q2 25 | 85.1% | 0.3% | ||
| Q1 25 | 55.2% | 5.1% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | -0.7% |
| Q4 25 | 64.5% | -3.1% | ||
| Q3 25 | 58.6% | -42.6% | ||
| Q2 25 | 75.7% | -4.9% | ||
| Q1 25 | 48.1% | 0.5% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | -4.8% | ||
| Q2 24 | — | -4.3% | ||
| Q1 24 | — | -2.4% |
| Q4 25 | $0.74 | $-0.50 | ||
| Q3 25 | $0.63 | $-2.75 | ||
| Q2 25 | $0.68 | $-0.59 | ||
| Q1 25 | $0.39 | $-0.21 | ||
| Q4 24 | — | $-0.18 | ||
| Q3 24 | — | $-0.53 | ||
| Q2 24 | — | $-0.38 | ||
| Q1 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 | $35.0M | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $5.9B | $-75.8M |
| Total Assets | $9.3B | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.0M | $4.2M | ||
| Q3 25 | $242.6M | $5.5M | ||
| Q2 25 | $66.6M | $4.7M | ||
| Q1 25 | $89.5M | $21.4M | ||
| Q4 24 | — | $27.6M | ||
| Q3 24 | — | $28.2M | ||
| Q2 24 | — | $32.2M | ||
| Q1 24 | — | $15.4M |
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $355.0M | ||
| Q2 25 | — | $347.4M | ||
| Q1 25 | — | $348.3M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M | ||
| Q1 24 | — | $73.5M |
| Q4 25 | $5.9B | $-75.8M | ||
| Q3 25 | $5.9B | $-61.5M | ||
| Q2 25 | $5.9B | $23.0M | ||
| Q1 25 | $5.9B | $40.5M | ||
| Q4 24 | — | $45.9M | ||
| Q3 24 | — | $51.4M | ||
| Q2 24 | — | $68.1M | ||
| Q1 24 | — | $68.3M |
| Q4 25 | $9.3B | $884.2M | ||
| Q3 25 | $9.0B | $879.5M | ||
| Q2 25 | $8.0B | $935.7M | ||
| Q1 25 | $7.2B | $956.0M | ||
| Q4 24 | — | $960.1M | ||
| Q3 24 | — | $953.5M | ||
| Q2 24 | — | $945.9M | ||
| Q1 24 | — | $309.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× | ||
| Q1 24 | — | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | — | $-329.0K |
| FCF MarginFCF / Revenue | — | -0.2% |
| Capex IntensityCapex / Revenue | — | 6.5% |
| Cash ConversionOCF / Net Profit | 30.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | $13.1M | ||
| Q3 25 | $123.1M | $5.9M | ||
| Q2 25 | $109.1M | $2.8M | ||
| Q1 25 | $21.3M | $8.5M | ||
| Q4 24 | — | $18.5M | ||
| Q3 24 | — | $19.1M | ||
| Q2 24 | — | $-3.8M | ||
| Q1 24 | — | $10.4M |
| Q4 25 | — | $-329.0K | ||
| Q3 25 | — | $-6.1M | ||
| Q2 25 | — | $-15.0M | ||
| Q1 25 | — | $-5.8M | ||
| Q4 24 | — | $733.0K | ||
| Q3 24 | — | $287.0K | ||
| Q2 24 | — | $-23.0M | ||
| Q1 24 | — | $-5.4M |
| Q4 25 | — | -0.2% | ||
| Q3 25 | — | -3.4% | ||
| Q2 25 | — | -7.2% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -13.3% | ||
| Q1 24 | — | -6.4% |
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 11.1% | ||
| Q1 24 | — | 18.6% |
| Q4 25 | 30.05× | — | ||
| Q3 25 | 1.17× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 0.53× | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRP
Segment breakdown not available.
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
