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Side-by-side financial comparison of Millrose Properties, Inc. (MRP) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($208.0M vs $189.5M, roughly 1.1× Millrose Properties, Inc.). Millrose Properties, Inc. runs the higher net margin — 64.5% vs 16.3%, a 48.2% 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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
MRP vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $189.5M | $208.0M |
| Net Profit | $122.2M | $33.9M |
| Gross Margin | — | — |
| Operating Margin | 84.8% | 19.1% |
| Net Margin | 64.5% | 16.3% |
| Revenue YoY | — | -10.9% |
| Net Profit YoY | 285.8% | -14.2% |
| EPS (diluted) | $0.74 | $5.15 |
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 | $208.0M | ||
| Q3 25 | $179.3M | $216.4M | ||
| Q2 25 | $149.0M | $210.5M | ||
| Q1 25 | $82.7M | $217.9M | ||
| Q4 24 | — | $233.5M | ||
| Q3 24 | — | $227.0M | ||
| Q2 24 | — | $224.4M | ||
| Q1 24 | — | $222.0M |
| Q4 25 | $122.2M | $33.9M | ||
| Q3 25 | $105.1M | $31.3M | ||
| Q2 25 | $112.8M | $42.7M | ||
| Q1 25 | $39.8M | $28.1M | ||
| Q4 24 | — | $39.5M | ||
| Q3 24 | — | $49.1M | ||
| Q2 24 | — | $26.0M | ||
| Q1 24 | — | $37.9M |
| Q4 25 | 84.8% | 19.1% | ||
| Q3 25 | 85.3% | 21.7% | ||
| Q2 25 | 85.1% | 21.5% | ||
| Q1 25 | 55.2% | 16.8% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | — | 24.3% | ||
| Q2 24 | — | 19.7% | ||
| Q1 24 | — | 14.5% |
| Q4 25 | 64.5% | 16.3% | ||
| Q3 25 | 58.6% | 14.5% | ||
| Q2 25 | 75.7% | 20.3% | ||
| Q1 25 | 48.1% | 12.9% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 21.6% | ||
| Q2 24 | — | 11.6% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | $0.74 | $5.15 | ||
| Q3 25 | $0.63 | $4.65 | ||
| Q2 25 | $0.68 | $6.12 | ||
| Q1 25 | $0.39 | $4.05 | ||
| Q4 24 | — | $4.65 | ||
| Q3 24 | — | $5.71 | ||
| Q2 24 | — | $2.43 | ||
| Q1 24 | — | $4.10 |
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 | — |
| Total DebtLower is stronger | — | $390.0M |
| Stockholders' EquityBook value | $5.9B | $934.0M |
| Total Assets | $9.3B | $4.3B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.0M | — | ||
| Q3 25 | $242.6M | — | ||
| Q2 25 | $66.6M | — | ||
| Q1 25 | $89.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M | ||
| Q1 24 | — | $253.0M |
| Q4 25 | $5.9B | $934.0M | ||
| Q3 25 | $5.9B | $918.7M | ||
| Q2 25 | $5.9B | $896.4M | ||
| Q1 25 | $5.9B | $893.7M | ||
| Q4 24 | — | $897.5M | ||
| Q3 24 | — | $889.0M | ||
| Q2 24 | — | $868.7M | ||
| Q1 24 | — | $871.7M |
| Q4 25 | $9.3B | $4.3B | ||
| Q3 25 | $9.0B | $3.9B | ||
| Q2 25 | $8.0B | $3.7B | ||
| Q1 25 | $7.2B | $3.7B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | 0.29× |
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 | $-67.2M |
| Free Cash FlowOCF − Capex | — | $-74.1M |
| FCF MarginFCF / Revenue | — | -35.6% |
| Capex IntensityCapex / Revenue | — | 3.3% |
| Cash ConversionOCF / Net Profit | 30.05× | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | $-67.2M | ||
| Q3 25 | $123.1M | $108.3M | ||
| Q2 25 | $109.1M | $75.8M | ||
| Q1 25 | $21.3M | $-3.8M | ||
| Q4 24 | — | $1.8M | ||
| Q3 24 | — | $69.1M | ||
| Q2 24 | — | $70.0M | ||
| Q1 24 | — | $-34.5M |
| Q4 25 | — | $-74.1M | ||
| Q3 25 | — | $106.9M | ||
| Q2 25 | — | $74.2M | ||
| Q1 25 | — | $-6.8M | ||
| Q4 24 | — | $-3.8M | ||
| Q3 24 | — | $68.7M | ||
| Q2 24 | — | $68.6M | ||
| Q1 24 | — | $-36.5M |
| Q4 25 | — | -35.6% | ||
| Q3 25 | — | 49.4% | ||
| Q2 25 | — | 35.2% | ||
| Q1 25 | — | -3.1% | ||
| Q4 24 | — | -1.6% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | — | 30.6% | ||
| Q1 24 | — | -16.4% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 30.05× | -1.99× | ||
| Q3 25 | 1.17× | 3.45× | ||
| Q2 25 | 0.97× | 1.77× | ||
| Q1 25 | 0.53× | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× | ||
| Q1 24 | — | -0.91× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MRP
Segment breakdown not available.
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
