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Miller Industries, Inc.

MLR Consumer Cyclical Auto Parts

Miller Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $790.3 million, down 37.2% from fiscal 2024.

Revenue
+18.8%
EPS
+100.0%
Free cash flow
+22.1%
Total debt
−92.2%

Quarter to September 2026, against a year earlier

44.57 7.50 −14.40%
Market cap
$511.5M
P/E
29.1×
Fwd P/E
25.9×
Dividend yield
1.86%
F-score
7/9
Altman Z
4.29
Beneish M
−3.32
Dividend safety
90/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 5.03%

Capital & Financial Ratios $m

Size
Market Cap 511.53
Revenue ttm 805.00
Net income ttm 17.31
Free cash flow ttm 135.50
Net debt Q (56.91)
Valuation
P/E 29.13
Forward P/E 25.90
Price / sales 0.63
Forward P/S Powerpack
Price / FCF 4.28
Price / book 1.20
Financial health
Current ratio Q 2.50 (at or above 1.5: strong)
Debt / equity Q 0.01 (at or below 0.5: strong)
Interest coverage Q 21.68
Growth
Revenue growth Q +18.78% (above 0%: growing)
Operating income growth Q +90.50% (above 0%: growing)
EPS, this year −0.76% (below 0%: weak)
EPS, next year A +46.56% (at or above 15%: strong)
Revenue, next year A +15.96% (at or above 10%: strong)
EPS, past 5 yrs −5.45% (below 0%: weak)
EPS, next 5 yrs A +19.63% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.5×; over the ten years it ranged from 0.3× in 2022 to 0.8× in 2026.
P/E against its own 10 years 94.43%
10-year low 10-year high
P/S against its own 10 years 88.08%
10-year low 10-year high
P/B against its own 10 years 16.76%
10-year low 10-year high
EV/Sales against its own 10 years 80.71%
10-year low 10-year high
EV/FCF against its own 10 years 0.06%
10-year low 10-year high

Dividends raised 2 years running

Yield
1.86%
Annual rate
0.83
Payout ratio
55.3%
Growth, 2017–25
+1.33%/yr
  1. 0.72 ’17
  2. 0.90 ’18 +25
  3. 0.72 ’19 −20
  4. 0.72 ’20 +0
  5. 0.72 ’21 +0
  6. 0.72 ’22 +0
  7. 0.72 ’23 +0
  8. 0.76 ’24 +6
  9. 0.80 ’25 +5
  10. 0.84 ’26e +5
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 30 24 45 60
Receivables 286 313 198 198
Inventory 190 186 184 164
Other — — — —
510 530 440 437
2023 2024 2025 Q'26
Payables 192 146 79 115
ST’ Debt — — 2 2
Other — — — —
235 198 137 175

Compound Annual Growth %

10y 5y 3y
Sales 3.86% 3.94% (2.34%)
Cash Flow 17.21% 10.21% 0.00%
Earnings 3.72% (5.06%) 4.19%
Book Value 9.24% 8.29% 12.75%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.64 Actual 0.53

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.03 0.29 Beat by 0.26
Q1 FY26 0.22 0.05 Miss by 0.17
Q2 FY26 0.41 0.63 Beat by 0.22
Q3 FY26 0.64 0.53 Miss by 0.11

EPS $

Mar Jun Sep Dec Year
’26 0.05 0.63 0.53 — —
’25 0.69 0.73 0.27 0.29 1.98
’24 1.47 1.78 1.33 0.91 5.47
’23 0.81 1.29 1.52 1.45 5.07
’22 0.18 0.33 0.46 0.81 1.78
’21 0.28 0.57 0.34 0.24 1.42
’20 0.48 0.51 0.57 1.05 2.62
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 181 240 212 — —
’25 226 214 179 172 790
’24 350 371 314 222 1,258
’23 282 300 275 296 1,153
’22 216 202 206 226 848
’21 170 181 165 202 717
’20 176 129 168 178 651
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 31 32 24 — —
’25 3 27 20 49 99
’24 9 (11) 30 (12) 17
’23 (7) 10 1 7 11
’22 (29) (6) 3 12 (19)
’21 3 2 2 8 15
’20 (2) 25 21 17 61
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 23 28 24 — —
’25 (2) 26 19 44 87
’24 4 (14) 24 (13) 2
’23 (9) 5 (2) 5 (1)
’22 (33) (25) 1 9 (48)
’21 0 (1) (1) 7 6
’20 (5) 21 16 12 43
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 601 615 712 818 651 717 848 1,153 1,258 790 805 +3.1% 916 1,021 1,112 +12.1%
Gross margin, % 10.69 10.91 11.71 11.79 12.03 9.74 9.71 13.17 13.58 15.23 14.65 +4.5 pt
EBT 31 30 42 50 38 22 26 74 80 31 24 +0.1%
EBT margin, % 5.17 4.93 5.85 6.16 5.85 3.03 3.03 6.40 6.37 3.99 3.01 (1.2) pt
Net income 20 23 34 39 30 16 20 58 63 23 17 +1.6%
Per share, $
Per share, $ Revenue 52.98 54.11 62.50 71.77 57.11 62.88 74.32 100.83 109.83 69.04 71.05 +3.0%
Earnings 1.76 2.02 2.96 3.43 2.62 1.42 1.78 5.10 5.55 2.01 1.53 +1.5%
Cash flow 1.84 1.23 1.92 3.08 5.32 1.34 (1.68) 0.96 1.47 8.62 11.96 +18.7%
Capex (2.21) (2.06) (1.16) (1.50) (1.51) (0.79) (2.53) (1.02) (1.34) (1.06) 0.00 (7.8%)
Free cash flow (0.36) (0.83) 0.76 1.59 3.81 0.54 (4.21) (0.06) 0.14 7.56 11.96 n/m
Book value 16.27 17.87 19.98 22.63 24.77 24.94 25.70 30.42 35.02 36.74 37.23 +9.5%
Shares, m 11 11 11 11 11 11 11 11 11 11 11 +0.1%
Valuation, ×
Valuation, × P/E 15.00 12.65 9.09 10.79 14.57 23.36 14.89 8.14 11.78 18.59 29.13 13.9
P/S 0.50 0.47 0.43 0.52 0.67 0.53 0.36 0.41 0.60 0.54 0.63 0.5
P/B 1.62 1.43 1.35 1.64 1.54 1.34 1.03 1.37 1.87 1.02 1.20 1.4
EV/Sales 0.45 0.45 0.42 0.49 0.58 0.46 0.36 0.44 0.63 0.53 0.56 0.5
EV/FCF (66.74) (29.58) 34.07 22.28 8.66 52.83 (6.40) (686.58) 500.52 4.81 3.80 (16.6)
Cash, $m
Cash, $m Operating cash flow 21 14 22 35 61 15 (19) 11 17 99 136 +18.8%
Capex (25) (23) (13) (17) (17) (9) (29) (12) (15) (12) (17) (7.7%)
Free cash flow (4) (9) 9 18 43 6 (48) (1) 2 87 136 n/m
Balance, $m
Balance, $m Working capital 120 126 150 163 176 182 220 276 332 303 262 +10.9%
Net debt (26) (11) (11) (21) (57) (53) 5 30 41 (11) (57) (8.8%)
Shareholders’ equity 185 203 228 258 282 285 293 348 401 421 422 +9.6%
Returns, %
Returns, % ROA 7.04 7.49 9.85 10.29 7.55 3.89 4.33 10.15 9.66 3.66 2.87 (3.4) pt
ROIC 12.71 10.40 12.65 13.90 10.90 6.38 6.19 13.02 11.95 4.80 4.41 (7.9) pt
ROE 11.12 11.87 15.67 16.11 11.04 5.73 7.04 18.18 16.96 5.60 4.11 (5.5) pt
People
People Employees 1,103 1,120 1,240 1,310 1,280 1,450 1,450 1,821 1,711 1,535 — +3.7%
Revenue/emp, $m 0.54 0.55 0.57 0.62 0.51 0.49 0.59 0.63 0.73 0.51 — (0.6%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

Miller Industries, Inc. vs peers in Auto Parts (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DCH Dauch Corporation $1.1B — (loss-making) — (loss-making) +92.40% (above 0%: growing) n/m −59.49% (below 0%: shrinking) 11.44% 3.37% Compare
SMP Standard Motor Products, Inc. $1.0B 14.6× 19.7× +1.80% (above 0%: growing) n/m +72.08% (above 0%: growing) 32.61% 9.88% Compare
PLOW Douglas Dynamics, Inc. $849.9M 13.2× 14.0× +34.48% (above 0%: growing) +169.65% (above 0%: growing) −129.22% (below 0%: shrinking) 27.44% 14.35% Compare
FOXF Fox Factory Holding Corp. $711.2M — (loss-making) — (loss-making) −4.47% (below 0%: shrinking) +42.86% (above 0%: growing) +13.54% (above 0%: growing) 30.63% 4.89% Compare
MLR Miller Industries, Inc. $511.5M 29.1× 25.9× +18.78% (above 0%: growing) +100.00% (above 0%: growing) +22.07% (above 0%: growing) 14.03% 3.67%
SLDP Solid Power, Inc. $465.5M — (loss-making) — (loss-making) −73.16% (below 0%: shrinking) n/m −13.54% (below 0%: shrinking) 0.00% (2,437.91%) Compare
MNRO Monro Muffler Brake, Inc. $354.3M — (loss-making) 79.7× −1.83% (below 0%: shrinking) n/m −1.25% (below 0%: shrinking) 35.24% 0.91% Compare
CPS Cooper-Standard Holdings Inc. $317.2M — (loss-making) 13.9× +1.88% (above 0%: growing) n/m −139.18% (below 0%: shrinking) 10.98% 1.47% Compare
HLLY Holley Inc. $257.1M 13.3× 11.8× +2.30% (above 0%: growing) n/m +633.75% (above 0%: growing) 43.97% 13.82% Compare
Median of peers $588.3M 13.3× 14.0× +1.84% — −7.39% 29.04% 4.13%

All 55 Auto Parts stocks →

Pay and ownership Proxy statement filed 8 April 2026

Ownership

Directors and executive officers, together 4.50%
FMR LLC 11.70%
BlackRock, Inc 7.60%
Dimensional Fund Advisors LP 6.70%
Neuberger Berman Group LLC 6.70%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Miller Industries, Inc. (MLR) Latest News

6 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · GuruFocus.com transcript

5 Nov

Impact 4 · · Associated Press Finance
Impact 3 · · The Motley Fool transcript

4 Nov

Impact 3 · · PR Newswire

9 Sep

Impact 3 ·

28 Aug

Impact 4 · · MarketBeat

25 Aug

Impact 3 ·

12 Aug

Impact 3 · · The Motley Fool transcript

8 Aug

Impact 3 · · MarketBeat transcript

6 Aug

Impact 3 · · Moby transcript

5 Aug

Impact 4 ·

4 Aug

Impact 4 · · Trefis

11 May

Impact 4 · · MarketBeat

6 May

Impact 4 · · PR Newswire

6 Mar

Impact 4 · · MarketBeat

5 Mar

Impact 4 ·
Impact 4 · · Moby

4 Mar

Impact 4 · · PR Newswire
Impact 3 · · Associated Press Finance

5 Feb

Impact 4 · · Simply Wall St.

16 Jan

Impact 3 · · Simply Wall St.

7 Jan

Impact 3 · · Zacks

26 Dec

Impact 3 · · Simply Wall St.

22 Dec

Impact 4 · · ZacksZacks

6 Dec

Impact 3 · · Simply Wall St.

2 Dec

Impact 4 · · PR Newswire

28 Nov

Impact 3 · · ZacksGuruFocus.comZacksAssociated Press FinanceZacks

15 Nov

Impact 3 · · Simply Wall St.

12 Nov

Impact 3 · · Zacks
stockrow.com/MLR · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com