Gather your mise en place; get together all of the equipment needed for the recipe and gather your ingredients.

Measure out all ingredients carefully.

Put the water, rice and cinnamon stick in a large pot and place over medium-high heat. Bring to a boil, uncovered, and cook until the rice is tender, about 15 to 20 minutes.

Strain out any excess liquid, discard the cinnamon stick and return the rice to the pot. Stir in the evaporated milk, condensed milk, and milk. Continue cooking over medium-high heat until the mixture comes to a boil, then turn to a simmer. Continue to cook until the mixture thickens, about 10 minutes.

Transfer to bowls, top with ground cinnamon and serve warm.