Miller Industries, Inc. (MLR) vs Standard Motor Products, Inc. (SMP)

Miller Industries, Inc. and Standard Motor Products, Inc. are both Auto Parts companies. Standard Motor Products, Inc. is the larger, with a market value of $834.0M against $611.2M — 1.4× the size. Standard Motor Products, Inc. trades at the lower P/E: 16.5× against 42.9×. Standard Motor Products, Inc. grew revenue faster over the last twelve months: 11.3% against −21.0%. Standard Motor Products, Inc. has the higher net margin (2.78% vs 1.86%) and the higher return on invested capital (7.98% vs 3.75%). Both pay a dividend; Standard Motor Products, Inc. yields more (2.86% vs 1.69%). Across the 23 metrics below, Standard Motor Products, Inc. leads on 16 and Miller Industries, Inc. on 7.

Valuation

Metric MLR SMP Auto Parts median
P/E 42.89 16.46 17.92
P/S 0.80 0.46 0.64
P/B 1.46 1.15 1.15
Price to free cash flow 5.38 9.63 12.82
EV/EBITDA 14.98 6.55 7.66
EV/Sales 0.73 0.72 0.73
Earnings yield 2.33% 6.08% 2.73%
Free cash flow yield 18.59% 10.38% 3.47%

Profitability

Metric MLR SMP Auto Parts median
Gross margin 14.71% 31.99% 22.64%
Operating margin 2.86% 8.39% 3.67%
Net margin 1.86% 2.78% 1.68%
Free cash flow margin 14.81% 4.75% 2.31%
Return on equity 3.41% 7.11% 2.35%
Return on assets 2.32% 2.51% 0.89%
Return on invested capital 3.75% 7.98% 4.55%

Growth

Metric MLR SMP Auto Parts median
Revenue growth (TTM) (20.95%) 11.32% 5.00%
EPS growth (last fiscal year) (63.80%) 48.39% —
Revenue growth, 5-year CAGR 3.94% 9.68% 7.78%
Net income growth, 5-year CAGR (5.06%) (6.35%) 0.00%

Health

Metric MLR SMP Auto Parts median
Debt to equity 0.01 0.76 0.38
Current ratio 2.46 2.00 1.78
Net debt to EBITDA (0.25) 2.85 1.26

Dividend

Metric MLR SMP Auto Parts median
Dividend yield 1.69% 2.86% 2.37%
Payout ratio 0.21 0.39 0.00

Size

Metric MLR SMP Auto Parts median
Market cap 611.20m 833.96m 914.31m

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