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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and Strategic Education, Inc. (STRA). Click either name above to swap in a different company.
Strategic Education, Inc. is the larger business by last-quarter revenue ($305.9M vs $189.5M, roughly 1.6× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs 10.7%, a 53.8% 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.
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
MRP vs STRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $189.5M | $305.9M |
| Net Profit | $122.2M | $32.8M |
| Gross Margin | — | — |
| Operating Margin | 84.8% | 13.4% |
| Net Margin | 64.5% | 10.7% |
| Revenue YoY | — | 0.8% |
| Net Profit YoY | 285.8% | 10.3% |
| EPS (diluted) | $0.74 | $1.48 |
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 | — | $305.9M | ||
| Q4 25 | $189.5M | $323.2M | ||
| Q3 25 | $179.3M | $319.9M | ||
| Q2 25 | $149.0M | $321.5M | ||
| Q1 25 | $82.7M | $303.6M | ||
| Q4 24 | — | $311.5M | ||
| Q3 24 | — | $306.0M | ||
| Q2 24 | — | $312.3M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $122.2M | $37.9M | ||
| Q3 25 | $105.1M | $26.6M | ||
| Q2 25 | $112.8M | $32.3M | ||
| Q1 25 | $39.8M | $29.7M | ||
| Q4 24 | — | $25.3M | ||
| Q3 24 | — | $27.7M | ||
| Q2 24 | — | $29.9M |
| Q1 26 | — | 13.4% | ||
| Q4 25 | 84.8% | 16.0% | ||
| Q3 25 | 85.3% | 11.6% | ||
| Q2 25 | 85.1% | 14.2% | ||
| Q1 25 | 55.2% | 13.1% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 13.4% |
| Q1 26 | — | 10.7% | ||
| Q4 25 | 64.5% | 11.7% | ||
| Q3 25 | 58.6% | 8.3% | ||
| Q2 25 | 75.7% | 10.1% | ||
| Q1 25 | 48.1% | 9.8% | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 9.6% |
| Q1 26 | — | $1.48 | ||
| Q4 25 | $0.74 | $1.65 | ||
| Q3 25 | $0.63 | $1.15 | ||
| Q2 25 | $0.68 | $1.37 | ||
| Q1 25 | $0.39 | $1.24 | ||
| Q4 24 | — | $1.05 | ||
| Q3 24 | — | $1.15 | ||
| Q2 24 | — | $1.24 |
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 | $150.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.9B | $1.6B |
| Total Assets | $9.3B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $150.3M | ||
| Q4 25 | $35.0M | $148.1M | ||
| Q3 25 | $242.6M | $172.6M | ||
| Q2 25 | $66.6M | $164.9M | ||
| Q1 25 | $89.5M | $182.6M | ||
| Q4 24 | — | $184.0M | ||
| Q3 24 | — | $222.1M | ||
| Q2 24 | — | $256.2M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $5.9B | $1.6B | ||
| Q3 25 | $5.9B | $1.7B | ||
| Q2 25 | $5.9B | $1.7B | ||
| Q1 25 | $5.9B | $1.6B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $9.3B | $2.0B | ||
| Q3 25 | $9.0B | $2.1B | ||
| Q2 25 | $8.0B | $2.1B | ||
| Q1 25 | $7.2B | $2.1B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B |
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 | $87.4M |
| Free Cash FlowOCF − Capex | — | $77.3M |
| FCF MarginFCF / Revenue | — | 25.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 30.05× | 2.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $173.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $87.4M | ||
| Q4 25 | $3.7B | $39.2M | ||
| Q3 25 | $123.1M | $60.1M | ||
| Q2 25 | $109.1M | $31.2M | ||
| Q1 25 | $21.3M | $67.7M | ||
| Q4 24 | — | $15.9M | ||
| Q3 24 | — | $51.5M | ||
| Q2 24 | — | $24.3M |
| Q1 26 | — | $77.3M | ||
| Q4 25 | — | $27.0M | ||
| Q3 25 | — | $49.3M | ||
| Q2 25 | — | $20.4M | ||
| Q1 25 | — | $57.3M | ||
| Q4 24 | — | $4.7M | ||
| Q3 24 | — | $42.1M | ||
| Q2 24 | — | $13.6M |
| Q1 26 | — | 25.3% | ||
| Q4 25 | — | 8.3% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 18.9% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | — | 3.4% |
| Q1 26 | — | 2.66× | ||
| Q4 25 | 30.05× | 1.03× | ||
| Q3 25 | 1.17× | 2.26× | ||
| Q2 25 | 0.97× | 0.97× | ||
| Q1 25 | 0.53× | 2.27× | ||
| Q4 24 | — | 0.63× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 0.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRP
Segment breakdown not available.
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
