Millrose Properties Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	462.94	379.86	-246.22	-209.79
Stock-Based Compensation	1.37	0.68	14.94	10.09
Other Adjustments	-8.83	16.73	-0.01	-
Change in Receivables	-34.92	-	-	-
Changes in Inventories	-	-	-716.07	-641.86
Changes in Accounts Payable	-	-	30.18	-23.56
Changes in Other Operating Activities	676.65	3,207	-	-
Operating Cash Flow	4,449	3,673	-917.19	-865.12
Capital Expenditures	-5,148	-6,008	-	-
Sale of Property, Plant & Equipment	1,505	-	-	-
Other Investing Activities	43.75	286.09	-	-
Investing Cash Flow	-6,078	-5,722	-	-
Short-Term Debt Issued	2,735	2,835	-	-
Short-Term Debt Repaid	-2,660	-2,725	-	-
Net Short-Term Debt Issued (Repaid)	75	110	-	-
Long-Term Debt Issued	500	2,000	-	-
Long-Term Debt Repaid	-	-6	-13.5	-18.69
Net Long-Term Debt Issued (Repaid)	500	1,994	-13.5	-18.69
Common Dividends Paid	-423.31	-298.81	-	-
Other Financing Activities	-69.76	279.27	930.7	883.81
Financing Cash Flow	1,589	2,084	917.19	865.12
Net Cash Flow	-40.25	35.05	0	0
Free Cash Flow	-699.49	-2,336	-917.19	-865.12
FCF Margin	-98.15%	-388.95%	-	-
Free Cash Flow Per Share	-4.21	-14.07	-9171940.00	-3.05
Levered Free Cash Flow	-3,434	-292.11	-945.62	-893.9
Unlevered Free Cash Flow	-3,892	-2,340	-932.12	-875.21

Updated May 6, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

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