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Hudson Pacific Properties vs Millrose Properties: revenue, profit, margins and growth compared

Hudson Pacific Properties brought in $831.1M of revenue in fiscal 2025, Millrose Properties $600.5M in fiscal 2025. Hudson Pacific Properties kept -68.9% of its revenue as net profit, Millrose Properties 63.3%.

Side by side, latest fiscal year

HPPMRP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$831.1M$600.5M
Revenue growth-1.3%n/a
Net income-$572.2M$379.9M
Net margin-68.9%63.3%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)-$12.81$2.44
Cash$138.4M$35M
Debtn/an/a
Price to earningsn/a11.1
Market value$632.2M$4.5B
Dividend yieldn/a9.38%
Rank by revenue in sector#206 of 444 · Finance#229 of 444 · Finance

Over the years

Revenue
HPP FY2018: $728.4MHPP FY2019: $818.2MHPP FY2020: $805MHPP FY2021: $896.8MHPP FY2022: $1BHPP FY2023: $952.3MHPP FY2024: $842.1MHPP FY2025: $831.1MMRP FY2025: $600.5MFY18FY19FY20FY21FY22FY23FY24FY25
HPP $831.1MMRP $600.5M
Net income
HPP FY2018: $98.1MHPP FY2019: $42.7MHPP FY2020: $383KHPP FY2021: $6.1MHPP FY2022: -$56.5MHPP FY2023: -$192.2MHPP FY2024: -$364.1MHPP FY2025: -$572.2MMRP FY2023: -$209.8MMRP FY2025: -$246.2MMRP FY2025: $379.9MFY18FY19FY20FY21FY22FY23FY24FY25
HPP -$572.2MMRP $379.9M
Net margin
HPP FY2018: 13.5%HPP FY2019: 5.2%HPP FY2020: 0.0%HPP FY2021: 0.7%HPP FY2022: -5.5%HPP FY2023: -20.2%HPP FY2024: -43.2%HPP FY2025: -68.9%MRP FY2025: 63.3%FY18FY19FY20FY21FY22FY23FY24FY25
HPP -68.9%MRP 63.3%
Revenue growth
HPP FY2019: +12.3%HPP FY2020: -1.6%HPP FY2021: +11.4%HPP FY2022: +14.4%HPP FY2023: -7.2%HPP FY2024: -11.6%HPP FY2025: -1.3%FY19FY20FY21FY22FY23FY24FY25
HPP -1.3%MRP

Fiscal years as each company reports them; the two may end in different months.

Questions about Hudson Pacific Properties and Millrose Properties

Which is bigger by revenue, Hudson Pacific Properties or Millrose Properties?

Hudson Pacific Properties is bigger by revenue: $831.1M in fiscal 2025, against $600.5M for Millrose Properties in fiscal 2025.

Which keeps more of its revenue as profit, Hudson Pacific Properties or Millrose Properties?

Hudson Pacific Properties had a net margin of -68.9% in fiscal 2025; Millrose Properties had 63.3% in fiscal 2025.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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