ECARX Holdings, Inc. (ECX) vs Miller Industries, Inc. (MLR)

ECARX Holdings, Inc. and Miller Industries, Inc. are both Auto Parts companies. Miller Industries, Inc. is the larger, with a market value of $611.2M against $392.4M — 1.6× the size. ECARX Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Miller Industries, Inc. trades at 42.9×. ECARX Holdings, Inc. grew revenue faster over the last twelve months: 11.1% against −21.0%. Miller Industries, Inc. has the higher net margin (1.86% vs −2.25%) and the higher return on invested capital (3.75% vs −2.71%). Across the 17 metrics below, Miller Industries, Inc. leads on 9 and ECARX Holdings, Inc. on 8.

Valuation

Metric ECX MLR Auto Parts median
P/E n/m 42.89 17.92
P/S 0.46 0.80 0.64
P/B n/m 1.46 1.15
Price to free cash flow n/m 5.38 12.82
EV/EBITDA n/m 14.98 7.66
EV/Sales 0.99 0.73 0.73
Earnings yield (4.73%) 2.33% 2.73%
Free cash flow yield (81.91%) 18.59% 3.47%

Profitability

Metric ECX MLR Auto Parts median
Gross margin 20.87% 14.71% 22.64%
Operating margin (1.01%) 2.86% 3.67%
Net margin (2.25%) 1.86% 1.68%
Free cash flow margin 0.00% 14.81% 2.31%
Return on equity 7.07% 3.41% 2.35%
Return on assets (2.68%) 2.32% 0.89%
Return on invested capital (2.71%) 3.75% 4.55%

Growth

Metric ECX MLR Auto Parts median
Revenue growth (TTM) 11.13% (20.95%) 5.00%
EPS growth (last fiscal year) 50.00% (63.80%) —
Revenue growth, 5-year CAGR — 3.94% 7.78%
Net income growth, 5-year CAGR 0.00% (5.06%) 0.00%

Health

Metric ECX MLR Auto Parts median
Debt to equity (2.57) 0.01 0.38
Current ratio 0.72 2.46 1.78
Net debt to EBITDA (7.22) (0.25) 1.26

Dividend

Metric ECX MLR Auto Parts median
Dividend yield — 1.69% 2.37%
Payout ratio 0.00 0.21 0.00

Size

Metric ECX MLR Auto Parts median
Market cap 392.42m 611.20m 914.31m

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