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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and Service Properties Trust (SVC). Click either name above to swap in a different company.
Service Properties Trust is the larger business by last-quarter revenue ($296.5M vs $189.5M, roughly 1.6× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs -0.3%, a 64.8% 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.
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
MRP vs SVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $189.5M | $296.5M |
| Net Profit | $122.2M | $-782.0K |
| Gross Margin | — | — |
| Operating Margin | 84.8% | -3.9% |
| Net Margin | 64.5% | -0.3% |
| Revenue YoY | — | -17.0% |
| Net Profit YoY | 285.8% | 99.0% |
| EPS (diluted) | $0.74 | $-0.01 |
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 | $296.5M | ||
| Q3 25 | $179.3M | $377.6M | ||
| Q2 25 | $149.0M | $404.4M | ||
| Q1 25 | $82.7M | $335.0M | ||
| Q4 24 | — | $357.0M | ||
| Q3 24 | — | $390.9M | ||
| Q2 24 | — | $412.5M | ||
| Q1 24 | — | $336.2M |
| Q4 25 | $122.2M | $-782.0K | ||
| Q3 25 | $105.1M | $-46.9M | ||
| Q2 25 | $112.8M | $-38.2M | ||
| Q1 25 | $39.8M | $-116.4M | ||
| Q4 24 | — | $-76.4M | ||
| Q3 24 | — | $-46.9M | ||
| Q2 24 | — | $-73.8M | ||
| Q1 24 | — | $-78.4M |
| Q4 25 | 84.8% | -3.9% | ||
| Q3 25 | 85.3% | -12.8% | ||
| Q2 25 | 85.1% | -9.2% | ||
| Q1 25 | 55.2% | -33.3% | ||
| Q4 24 | — | -19.4% | ||
| Q3 24 | — | -12.8% | ||
| Q2 24 | — | -17.1% | ||
| Q1 24 | — | -21.4% |
| Q4 25 | 64.5% | -0.3% | ||
| Q3 25 | 58.6% | -12.4% | ||
| Q2 25 | 75.7% | -9.4% | ||
| Q1 25 | 48.1% | -34.8% | ||
| Q4 24 | — | -21.4% | ||
| Q3 24 | — | -12.0% | ||
| Q2 24 | — | -17.9% | ||
| Q1 24 | — | -23.3% |
| Q4 25 | $0.74 | $-0.01 | ||
| Q3 25 | $0.63 | $-0.28 | ||
| Q2 25 | $0.68 | $-0.23 | ||
| Q1 25 | $0.39 | $-0.70 | ||
| Q4 24 | — | $-0.46 | ||
| Q3 24 | — | $-0.28 | ||
| Q2 24 | — | $-0.45 | ||
| Q1 24 | — | $-0.48 |
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 | $346.8M |
| Total DebtLower is stronger | — | $5.5B |
| Stockholders' EquityBook value | $5.9B | $646.1M |
| Total Assets | $9.3B | $6.5B |
| Debt / EquityLower = less leverage | — | 8.52× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.0M | $346.8M | ||
| Q3 25 | $242.6M | $417.4M | ||
| Q2 25 | $66.6M | $63.2M | ||
| Q1 25 | $89.5M | $80.1M | ||
| Q4 24 | — | $143.5M | ||
| Q3 24 | — | $48.6M | ||
| Q2 24 | — | $14.6M | ||
| Q1 24 | — | $71.3M |
| Q4 25 | — | $5.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $5.9B | $646.1M | ||
| Q3 25 | $5.9B | $647.9M | ||
| Q2 25 | $5.9B | $695.9M | ||
| Q1 25 | $5.9B | $734.6M | ||
| Q4 24 | — | $851.9M | ||
| Q3 24 | — | $929.0M | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $9.3B | $6.5B | ||
| Q3 25 | $9.0B | $7.0B | ||
| Q2 25 | $8.0B | $6.9B | ||
| Q1 25 | $7.2B | $7.0B | ||
| Q4 24 | — | $7.1B | ||
| Q3 24 | — | $7.1B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $7.2B |
| Q4 25 | — | 8.52× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.85× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-18.5M |
| Free Cash FlowOCF − Capex | — | $-95.2M |
| FCF MarginFCF / Revenue | — | -32.1% |
| Capex IntensityCapex / Revenue | — | 25.9% |
| Cash ConversionOCF / Net Profit | 30.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-107.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | $-18.5M | ||
| Q3 25 | $123.1M | $98.1M | ||
| Q2 25 | $109.1M | $-7.0K | ||
| Q1 25 | $21.3M | $38.2M | ||
| Q4 24 | — | $-9.7M | ||
| Q3 24 | — | $106.2M | ||
| Q2 24 | — | $43.8M | ||
| Q1 24 | — | $-926.0K |
| Q4 25 | — | $-95.2M | ||
| Q3 25 | — | $57.9M | ||
| Q2 25 | — | $-46.6M | ||
| Q1 25 | — | $-23.2M | ||
| Q4 24 | — | $-88.9M | ||
| Q3 24 | — | $24.1M | ||
| Q2 24 | — | $-22.3M | ||
| Q1 24 | — | $-77.2M |
| Q4 25 | — | -32.1% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | -11.5% | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | -24.9% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | -5.4% | ||
| Q1 24 | — | -23.0% |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 10.6% | ||
| Q2 25 | — | 11.5% | ||
| Q1 25 | — | 18.3% | ||
| Q4 24 | — | 22.2% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 16.0% | ||
| Q1 24 | — | 22.7% |
| Q4 25 | 30.05× | — | ||
| Q3 25 | 1.17× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
