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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. In the quarter to June 2026, revenue grew 12.1%, EPS fell 13.5%, free cash flow grew 9.55% and total debt fell 94.2%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, operating cash flow growth for three.

51.47 0.20 +0.39%
Market cap
$582.0M
P/E
40.8×
Fwd P/E
26.2×
Dividend yield
1.61%
F-score
7/9
Altman Z
4.29
Beneish M
−3.32
Dividend safety
90/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 5.42%

Capital & Financial Ratios $m

Market Cap 582.03
Revenue 771.44
Net Income 14.31
Free Cash Flow 114.27
Net Debt (52.47)
Current Ratio 2.46 (at or above 1.5: strong)
Debt/Equity 0.01 (at or below 0.5: strong)
P/E ratio 40.85 (above 35: high)
Fwd P/E 26.20
P/S ratio 0.76
P/B ratio 1.39
Past 5Y EPS Growth (5.45%) (below 0%: weak)
This Y EPS Growth (0.76%) (below 0%: weak)
Next Y EPS Growth 46.56% (at or above 15%: strong)
Next Y revenue growth 15.96% (at or above 10%: strong)
Next 5Y EPS Growth 19.63% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, 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 98.19%
10-year low 10-year high
P/S against its own 10 years 96.20%
10-year low 10-year high
P/B against its own 10 years 50.06%
10-year low 10-year high
EV/Sales against its own 10 years 95.80%
10-year low 10-year high
EV/FCF against its own 10 years 4.19%
10-year low 10-year high

Dividends

Payout Ratio 0.67
Annual Dividend Rate 0.83
Annual Dividend Yield 1.61%
total individual payouts
2027 Powerpack
2026 0.84
0.21
0.21
0.21
2025 0.80
0.20
0.20
0.20
0.20
2024 0.76
0.19
0.19
0.19
0.19
2023 0.72
0.18
0.18
0.18
0.18
2022 0.72
0.18
0.18
0.18
0.18
2021 0.72
0.18
0.18
0.18
0.18
2020 0.72
0.18
0.18
0.18
0.18
2019 0.72
0.18
0.18
0.18
0.18
2018 0.90
0.18
0.18
0.18
0.18
0.18
2017 0.72
0.18
0.18
0.18
0.18
2016 0.68
0.17
0.17
0.17
0.17
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 30 24 45 56
Receivables 286 313 198 225
Inventory 190 186 184 157
Other — — — —
510 530 440 454
2023 2024 2025 Q'26
Payables 192 146 79 127
ST’ Debt — — 2 2
Other — — — —
235 198 137 185

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%

Revenue $m

Mar Jun Sep Dec Year
’26 181 240 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.05 0.63 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 18.93 22.80 22.80 25.91 25.25 31.51 21.00 26.30 38.33 33.81

Analyst estimates 2026–2028

Powerpack
High 28.85 29.00 29.40 38.18 38.47 47.57 34.95 43.50 78.25 70.06
People
People Employees 1,103 1,120 1,240 1,310 1,280 1,450 1,450 1,821 1,711 1,535
Revenue/emp, $m 0.54 0.55 0.57 0.62 0.51 0.49 0.59 0.63 0.73 0.51
Income, $m
Income, $m Revenue 601 615 712 818 651 717 848 1,153 1,258 790
Gross margin, % 10.69 10.91 11.71 11.79 12.03 9.74 9.71 13.17 13.58 15.23
EBT 31 30 42 50 38 22 26 74 80 31
EBT margin, % 5.17 4.93 5.85 6.16 5.85 3.03 3.03 6.40 6.37 3.99
Net income 20 23 34 39 30 16 20 58 63 23
Depreciation 5 6 8 9 10 11 12 13 14 15
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
Earnings 1.76 2.02 2.96 3.43 2.62 1.42 1.78 5.10 5.55 2.01
Cash flow 1.84 1.23 1.92 3.08 5.32 1.34 (1.68) 0.96 1.47 8.62
Capex (2.21) (2.06) (1.16) (1.50) (1.51) (0.79) (2.53) (1.02) (1.34) (1.06)
Free cash flow (0.36) (0.83) 0.76 1.59 3.81 0.54 (4.21) (0.06) 0.14 7.56
Book value 16.27 17.87 19.98 22.63 24.77 24.94 25.70 30.42 35.02 36.74
Shares, m 11 11 11 11 11 11 11 11 11 11
Valuation, ×
Valuation, × P/E 15.00 12.65 9.09 10.79 14.57 23.36 14.89 8.14 11.78 18.59
P/S 0.50 0.47 0.43 0.52 0.67 0.53 0.36 0.41 0.60 0.54
P/B 1.62 1.43 1.35 1.64 1.54 1.34 1.03 1.37 1.87 1.02
EV/Sales 0.45 0.45 0.42 0.49 0.58 0.46 0.36 0.44 0.63 0.53
EV/FCF (66.74) (29.58) 34.07 22.28 8.66 52.83 (6.40) (686.58) 500.52 4.81
Cash, $m
Cash, $m Operating cash flow 21 14 22 35 61 15 (19) 11 17 99
Capex (25) (23) (13) (17) (17) (9) (29) (12) (15) (12)
Free cash flow (4) (9) 9 18 43 6 (48) (1) 2 87
Balance, $m
Balance, $m Working capital 120 126 150 163 176 182 220 276 332 303
Total debt 5 11 16 5 0 1 45 60 65 33
Net debt (26) (11) (11) (21) (57) (53) 5 30 41 (11)
Shareholders’ equity 185 203 228 258 282 285 293 348 401 421
Returns, %
Returns, % ROA 7.04 7.49 9.85 10.29 7.55 3.89 4.33 10.15 9.66 3.66
ROIC 12.71 10.40 12.65 13.90 10.90 6.38 6.19 13.02 11.95 4.80
ROE 11.12 11.87 15.67 16.11 11.04 5.73 7.04 18.18 16.96 5.60
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
PLOW Douglas Dynamics, Inc. $915.2M 17.7× 16.8× +10.46% (above 0%: growing) −1.82% (below 0%: shrinking) −97.51% (below 0%: shrinking) 31.12% 16.51% Compare
SMP Standard Motor Products, Inc. $829.7M 16.2× 19.7× +1.57% (above 0%: growing) +18.26% (above 0%: growing) +108.33% (above 0%: growing) 32.82% 10.14% Compare
FOXF Fox Factory Holding Corp. $777.6M — (loss-making) 53.3× −4.47% (below 0%: shrinking) +42.86% (above 0%: growing) +13.54% (above 0%: growing) 30.63% 4.89% Compare
MLR Miller Industries, Inc. $582.0M 40.8× 26.2× +12.13% (above 0%: growing) −13.51% (below 0%: shrinking) +9.55% (above 0%: growing) 14.97% 4.48%
SLDP Solid Power, Inc. $486.0M — (loss-making) — (loss-making) −103.55% (below 0%: shrinking) n/m +15.13% (above 0%: growing) 890.67% 11,301.87% Compare
MNRO Monro Muffler Brake, Inc. $449.0M 62.0× 47.6× −4.62% (below 0%: shrinking) n/m −349.08% (below 0%: shrinking) 34.97% 1.29% Compare
CPS Cooper-Standard Holdings Inc. $381.7M — (loss-making) 13.9× +2.18% (above 0%: growing) n/m +169.83% (above 0%: growing) 11.61% 1.78% Compare
ECX ECARX Holdings, Inc. $333.8M — (loss-making) 242× +44.73% (above 0%: growing) n/m +46.10% (above 0%: growing) 19.76% (2.75%) Compare
SES SES AI Corporation $328.1M — (loss-making) — (loss-making) +43.80% (above 0%: growing) n/m −24.58% (below 0%: shrinking) 22.61% (378.47%) Compare
Median of peers $467.5M 17.7× 33.7× +1.88% +18.26% +14.33% 30.87% 3.34%

All 53 Auto Parts stocks →

Miller Industries, Inc. (MLR) key facts

  • Concern: Miller Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $790.3 million, down 37.2% from fiscal 2024.
  • Concern: Net income was $23.0 million, or $2.01 per share (basic), a net margin of 2.91%.
  • Miller Industries, Inc. (MLR) is an Auto Parts company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, MLR traded at $51.47, a market capitalization of $582.0 million.
  • At that price the stock trades at 40.8× trailing-twelve-month earnings and 0.8× sales; its P/E is higher than 98% of its own readings over the past ten years.
  • Miller Industries, Inc. pays an annual dividend of $0.83 per share, a yield of 1.61%, with a payout ratio of 66.9%.
  • Return on equity was 5.60% and debt-to-equity 0.01.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 4.29 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Miller Industries, Inc. (MLR) Latest News

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stockrow.com/MLR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com