EPR Properties vs Millrose Properties
EPR Properties is the larger business, with $718m of revenue in fiscal 2025 against $600m for Millrose Properties (1.2 times as much). Millrose Properties kept more of each dollar of sales as profit: a net margin of 63.3% against 38.3%. Millrose Properties carries less debt relative to equity (36.1% against 125.8%).
| Latest fiscal year | EPR PropertiesEPR, 2025 | Millrose PropertiesMRP, 2025 |
|---|---|---|
| Revenue | $718m | $600m |
| Revenue growth | 2.9% | — |
| Net income | $275m | $380m |
| Operating margin | 57.7% | 80.9% |
| Net margin | 38.3% | 63.3% |
| Return on equity | 11.8% | 6.5% |
| Free cash flow | $269m | — |
| Cash | $90.6m | $35.0m |
| Total debt | $2.93bn | $2.11bn |
| Debt to equity | 125.8% | 36.1% |
| Dividend per share | $3.52 | $2.55 |
| Dividend yield | 6.5% | — |
| Share buybacks | $9.9m | — |
| Employees | 54 | — |
| Market value | $4.57bn | $4.31bn |
| Price vs our value range | — | — |
| Moat score | 69 (Moderate) | — |
| Insider trades, 12 months | 0 buys, 20 sales | 12 buys, 0 sales |