Miller Industries (MLR) Financials

$46.24 -0.43 (-0.92%)

As of 05/20/2025 03:59 PM Eastern

Annual Income Statements for Miller Industries

This table shows Miller Industries' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	63	58	20
Consolidated Net Income / (Loss)	63	58	20
Net Income / (Loss) Continuing Operations	63	58	20
Total Pre-Tax Income	80	74	26
Total Operating Income	81	80	29
Total Gross Profit	171	152	82
Total Revenue	1,258	1,153	848
Operating Revenue	1,258	1,153	848
Total Cost of Revenue	1,087	1,002	766
Operating Cost of Revenue	1,087	1,002	766
Total Operating Expenses	90	72	53
Selling, General & Admin Expense	86	73	53
Other Operating Expenses / (Income)	3.93	-0.99	0.48
Total Other Income / (Expense), net	-0.43	-5.97	-3.38
Other Income / (Expense), net	-0.43	-	-
Income Tax Expense	17	15	5.39
Basic Earnings per Share	$5.55	$5.10	$1.78
Weighted Average Basic Shares Outstanding	11.45M	11.44M	11.42M
Diluted Earnings per Share	$5.47	$5.07	$1.78
Weighted Average Diluted Shares Outstanding	11.60M	11.51M	11.42M
Weighted Average Basic & Diluted Shares Outstanding	11.44M	11.45M	11.42M
Cash Dividends to Common per Share	$0.76	$0.72	$0.72

This table shows Miller Industries' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	11	15	21	17	17	17	15	9.22	9.29	5.23
Consolidated Net Income / (Loss)	11	15	21	17	17	17	15	9.22	9.29	5.23
Net Income / (Loss) Continuing Operations	11	15	21	17	17	17	15	9.22	9.29	5.23
Total Pre-Tax Income	13	20	26	21	21	22	19	12	12	6.80
Total Operating Income	10	19	28	23	26	22	21	11	13	7.84
Total Gross Profit	33	42	51	44	39	43	40	30	26	23
Total Revenue	222	314	371	350	296	275	300	282	226	206
Operating Revenue	222	314	371	350	296	275	300	282	226	206
Total Cost of Revenue	188	272	320	306	258	232	260	252	200	182
Operating Cost of Revenue	188	272	320	306	258	232	260	252	200	182
Total Operating Expenses	23	23	23	22	13	21	19	19	12	15
Selling, General & Admin Expense	20	22	23	22	16	19	19	18	13	15
Other Operating Expenses / (Income)	3.70	0.25	0.01	-0.03	-3.59	1.81	-0.23	1.01	-0.87	0.67
Total Other Income / (Expense), net	2.55	0.32	-2.05	-1.25	-4.89	0.29	-1.70	0.32	-1.64	-1.04
Income Tax Expense	2.10	4.35	5.73	4.47	4.28	4.57	4.06	2.58	2.34	1.57
Basic Earnings per Share	$0.92	$1.35	$1.79	$1.49	$1.46	$1.53	$1.30	$0.81	$0.81	$0.46
Weighted Average Basic Shares Outstanding	11.45M	11.45M	11.46M	11.45M	11.44M	11.45M	11.47M	11.42M	11.42M	11.42M
Diluted Earnings per Share	$0.89	$1.33	$1.78	$1.47	$1.45	$1.52	$1.29	$0.81	$0.81	$0.46
Weighted Average Diluted Shares Outstanding	11.60M	11.60M	11.55M	11.56M	11.51M	11.52M	11.53M	11.43M	11.42M	11.42M
Weighted Average Basic & Diluted Shares Outstanding	11.44M	11.44M	11.45M	11.47M	11.45M	11.45M	11.45M	11.44M	11.42M	11.42M
Cash Dividends to Common per Share	$0.19	$0.19	$0.19	$0.19	$0.18	$0.18	$0.18	$0.18	$0.18	$0.18

This table details how cash moves in and out of Miller Industries' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-5.57	-10	-14
Net Cash From Operating Activities	17	11	-19
Net Cash From Continuing Operating Activities	17	11	-19
Net Income / (Loss) Continuing Operations	63	58	20
Consolidated Net Income / (Loss)	63	58	20
Depreciation Expense	14	13	12
Non-Cash Adjustments To Reconcile Net Income	3.48	1.13	1.06
Changes in Operating Assets and Liabilities, net	-64	-62	-52
Net Cash From Investing Activities	-15	-29	-29
Net Cash From Continuing Investing Activities	-15	-29	-29
Purchase of Property, Plant & Equipment	-15	-12	-29
Acquisitions	0.02	-17	0.00
Sale of Property, Plant & Equipment	0.06	0.40	0.01
Net Cash From Financing Activities	-6.62	6.75	37
Net Cash From Continuing Financing Activities	-6.62	6.75	37
Repayment of Debt	5.00	15	45
Repurchase of Common Equity	-2.90	0.00	0.00
Payment of Dividends	-8.72	-8.25	-8.22
Other Financing Activities, net	0.00	0.00	-0.02
Effect of Exchange Rate Changes	-0.55	1.12	-2.86
Cash Interest Paid	9.71	8.09	3.33
Cash Income Taxes Paid	24	18	1.81

This table details how cash moves in and out of Miller Industries' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-16	17	-2.99	-3.10	3.06	-3.66	0.78	-10	6.95	2.08
Net Cash From Operating Activities	-12	30	-11	8.98	6.75	1.30	9.67	-6.76	12	3.23
Net Cash From Continuing Operating Activities	-12	30	-11	8.98	6.75	1.30	9.67	-6.76	12	3.23
Net Income / (Loss) Continuing Operations	11	15	21	17	17	17	15	9.22	9.29	5.23
Consolidated Net Income / (Loss)	11	15	21	17	17	17	15	9.22	9.29	5.23
Depreciation Expense	3.44	3.66	3.47	3.51	3.56	3.32	3.21	3.15	3.13	3.01
Non-Cash Adjustments To Reconcile Net Income	1.07	0.83	1.37	0.21	0.23	0.46	0.12	0.33	0.27	0.25
Changes in Operating Assets and Liabilities, net	-27	10	-36	-12	-14	-20	-8.57	-19	-0.25	-5.26
Net Cash From Investing Activities	-1.29	-6.29	-3.03	-4.66	-1.57	-3.34	-22	-1.75	-3.81	-2.29
Net Cash From Continuing Investing Activities	-1.29	-6.29	-3.03	-4.66	-1.57	-3.34	-22	-1.75	-3.81	-2.29
Purchase of Property, Plant & Equipment	-1.27	-6.29	-3.12	-4.67	-2.36	-3.12	-4.86	-1.75	-3.81	-2.29
Sale of Property, Plant & Equipment	-0.02	-	0.07	0.01	0.37	-0.21	0.24	0.00	-	-
Net Cash From Financing Activities	-2.17	-8.03	11	-7.18	-2.07	-2.06	13	-2.06	-2.06	2.94
Net Cash From Continuing Financing Activities	-2.17	-8.03	11	-7.18	-2.07	-2.06	13	-2.06	-2.06	2.94
Payment of Dividends	-2.17	-2.18	-2.19	-2.18	-2.07	-2.06	-2.06	-2.06	-2.06	-2.06
Effect of Exchange Rate Changes	-1.09	0.81	-0.04	-0.24	-0.05	0.44	0.59	0.14	0.37	-1.80
Cash Interest Paid	2.33	2.50	3.89	1.00	2.33	2.29	1.98	1.49	1.43	0.88
Cash Income Taxes Paid	5.19	7.30	11	0.28	5.07	4.71	7.77	0.50	0.53	-0.22

This table presents Miller Industries' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	667	647	501
Total Current Assets	530	510	376
Cash & Equivalents	24	30	40
Note & Lease Receivable	313	286	178
Inventories, net	186	190	154
Prepaid Expenses	5.85	4.62	4.58
Plant, Property, & Equipment, net	116	115	112
Total Noncurrent Assets	21	22	13
Goodwill	20	20	12
Other Noncurrent Operating Assets	1.27	1.65	1.62
Total Liabilities & Shareholders' Equity	667	647	501
Total Liabilities	266	299	208
Total Current Liabilities	198	235	156
Accounts Payable	146	192	126
Accrued Expenses	51	41	28
Current Deferred & Payable Income Tax Liabilities	1.08	1.82	2.00
Other Current Liabilities	0.32	0.32	0.31
Total Noncurrent Liabilities	68	65	52
Long-Term Debt	65	60	45
Noncurrent Deferred & Payable Income Tax Liabilities	2.89	4.07	6.23
Other Noncurrent Operating Liabilities	0.23	0.51	0.60
Commitments & Contingencies	0.00	0.00	-
Total Equity & Noncontrolling Interests	401	348	293
Total Preferred & Common Equity	401	348	293
Preferred Stock	0.00	0.00	0.00
Total Common Equity	401	348	293
Common Stock	154	154	153
Retained Earnings	255	200	150
Accumulated Other Comprehensive Income / (Loss)	-7.73	-5.93	-9.17

This table presents Miller Industries' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	755	748	697	587	607	558	477
Total Current Assets	615	611	559	449	469	434	352
Cash & Equivalents	41	24	27	27	31	30	33
Note & Lease Receivable	374	392	339	241	265	233	168
Inventories, net	190	187	184	176	167	164	144
Prepaid Expenses	10	8.10	8.84	5.34	6.39	6.77	6.05
Plant, Property, & Equipment, net	119	116	116	116	116	111	113
Total Noncurrent Assets	21	21	22	22	22	13	13
Goodwill	20	20	20	21	21	12	12
Other Noncurrent Operating Assets	1.32	1.40	1.52	1.49	1.45	1.53	1.57
Total Liabilities & Shareholders' Equity	755	748	697	587	607	558	477
Total Liabilities	360	368	334	255	291	256	189
Total Current Liabilities	291	294	275	189	225	205	138
Accounts Payable	234	243	229	147	189	169	107
Accrued Expenses	55	50	44	40	35	30	30
Current Deferred & Payable Income Tax Liabilities	1.46	0.77	1.77	1.21	0.88	4.74	-
Other Current Liabilities	0.31	0.31	0.31	0.28	0.31	0.31	0.32
Total Noncurrent Liabilities	69	75	60	67	67	52	51
Long-Term Debt	65	70	55	60	60	45	45
Noncurrent Deferred & Payable Income Tax Liabilities	4.08	4.16	4.11	6.09	6.18	6.16	5.20
Other Noncurrent Operating Liabilities	0.29	0.35	0.43	0.42	0.50	0.57	0.63
Commitments & Contingencies	0.00	0.00	0.00	-	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	395	380	362	332	316	302	289
Total Preferred & Common Equity	395	380	362	332	316	302	289
Total Common Equity	395	380	362	332	316	302	289
Common Stock	153	153	154	153	153	153	152
Retained Earnings	247	233	215	186	170	157	147
Accumulated Other Comprehensive Income / (Loss)	-4.44	-6.57	-6.51	-6.46	-7.28	-8.19	-11

This table displays calculated financial ratios and metrics derived from Miller Industries' official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	9.03%	35.94%	18.26%
EBITDA Growth	1.29%	127.54%	19.66%
EBIT Growth	0.47%	173.98%	25.91%
NOPAT Growth	1.30%	173.75%	33.31%
Net Income Growth	8.93%	186.50%	25.17%
EPS Growth	7.89%	184.83%	25.35%
Operating Cash Flow Growth	53.88%	157.23%	-225.46%
Free Cash Flow Firm Growth	100.89%	62.90%	-477.70%
Invested Capital Growth	16.85%	26.72%	29.54%
Revenue Q/Q Growth	-5.58%	6.50%	2.93%
EBITDA Q/Q Growth	-14.78%	16.27%	28.61%
EBIT Q/Q Growth	-16.82%	18.74%	43.82%
NOPAT Q/Q Growth	-15.84%	18.79%	48.70%
Net Income Q/Q Growth	-8.85%	14.55%	47.77%
EPS Q/Q Growth	-9.29%	14.45%	48.33%
Operating Cash Flow Q/Q Growth	-52.26%	-34.20%	18.04%
Free Cash Flow Firm Q/Q Growth	-99.32%	-37.10%	0.82%
Invested Capital Q/Q Growth	5.27%	3.41%	-0.67%
Profitability Metrics	-	-	-
Gross Margin	13.58%	13.17%	9.71%
EBITDA Margin	7.49%	8.06%	4.82%
Operating Margin	6.41%	6.92%	3.43%
EBIT Margin	6.37%	6.92%	3.43%
Profit (Net Income) Margin	5.05%	5.05%	2.40%
Tax Burden Percent	79.24%	79.00%	79.07%
Interest Burden Percent	100.00%	92.51%	88.39%
Effective Tax Rate	20.76%	21.00%	20.93%
Return on Invested Capital (ROIC)	15.57%	18.63%	8.71%
ROIC Less NNEP Spread (ROIC-NNEP)	14.62%	-8.38%	19.51%
Return on Net Nonoperating Assets (RNNOA)	1.38%	-0.46%	-1.67%
Return on Equity (ROE)	16.96%	18.18%	7.04%
Cash Return on Invested Capital (CROIC)	0.04%	-4.94%	-17.03%
Operating Return on Assets (OROA)	12.19%	13.89%	6.20%
Return on Assets (ROA)	9.66%	10.15%	4.33%
Return on Common Equity (ROCE)	16.96%	18.18%	7.04%
Return on Equity Simple (ROE_SIMPLE)	15.83%	16.75%	6.93%
Net Operating Profit after Tax (NOPAT)	64	63	23
NOPAT Margin	5.08%	5.46%	2.71%
Net Nonoperating Expense Percent (NNEP)	0.95%	27.02%	-10.80%
Return On Investment Capital (ROIC_SIMPLE)	13.70%	15.45%	6.80%
Cost of Revenue to Revenue	86.42%	86.83%	90.29%
SG&A Expenses to Revenue	6.86%	6.34%	6.23%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	7.18%	6.25%	6.28%
Earnings before Interest and Taxes (EBIT)	80	80	29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	94	93	41
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.86	1.37	1.00
Price to Tangible Book Value (P/TBV)	1.96	1.46	1.05
Price to Revenue (P/Rev)	0.59	0.41	0.35
Price to Earnings (P/E)	11.78	8.20	14.48
Dividend Yield	1.16%	1.72%	2.79%
Earnings Yield	8.49%	12.20%	6.91%
Enterprise Value to Invested Capital (EV/IC)	1.78	1.34	1.00
Enterprise Value to Revenue (EV/Rev)	0.63	0.44	0.35
Enterprise Value to EBITDA (EV/EBITDA)	8.37	5.46	7.33
Enterprise Value to EBIT (EV/EBIT)	9.84	6.37	10.29
Enterprise Value to NOPAT (EV/NOPAT)	12.35	8.06	13.01
Enterprise Value to Operating Cash Flow (EV/OCF)	46.73	46.33	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	5,299.21	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.16	0.17	0.15
Long-Term Debt to Equity	0.16	0.17	0.15
Financial Leverage	0.09	0.05	-0.09
Leverage Ratio	1.75	1.79	1.62
Compound Leverage Factor	1.75	1.66	1.44
Debt to Total Capital	13.95%	14.71%	13.30%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	13.95%	14.71%	13.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	86.05%	85.29%	86.70%
Debt to EBITDA	0.69	0.65	1.10
Net Debt to EBITDA	0.43	0.32	0.12
Long-Term Debt to EBITDA	0.69	0.65	1.10
Debt to NOPAT	1.02	0.95	1.96
Net Debt to NOPAT	0.64	0.48	0.21
Long-Term Debt to NOPAT	1.02	0.95	1.96
Altman Z-Score	5.10	4.09	3.68
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	2.68	2.17	2.41
Quick Ratio	1.71	1.35	1.40
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.15	-17	-45
Operating Cash Flow to CapEx	110.31%	93.71%	-66.21%
Free Cash Flow to Firm to Interest Expense	0.00	-2.79	-13.32
Operating Cash Flow to Interest Expense	0.00	1.84	-5.67
Operating Cash Flow Less CapEx to Interest Expense	0.00	-0.12	-14.23
Efficiency Ratios	-	-	-
Asset Turnover	1.91	2.01	1.81
Accounts Receivable Turnover	0.00	0.00	0.00
Inventory Turnover	5.78	5.83	5.70
Fixed Asset Turnover	10.89	10.15	8.18
Accounts Payable Turnover	6.44	6.31	6.20
Days Sales Outstanding (DSO)	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	63.14	62.59	63.98
Days Payable Outstanding (DPO)	56.70	57.82	58.90
Cash Conversion Cycle (CCC)	6.44	4.77	5.08
Capital & Investment Metrics	-	-	-
Invested Capital	442	378	298
Invested Capital Turnover	3.07	3.41	3.21
Increase / (Decrease) in Invested Capital	64	80	68
Enterprise Value (EV)	788	508	299
Market Capitalization	748	478	295
Book Value per Share	$35.06	$30.40	$25.70
Tangible Book Value per Share	$33.31	$28.65	$24.69
Total Capital	466	408	338
Total Debt	65	60	45
Total Long-Term Debt	65	60	45
Net Debt	41	30	4.85
Capital Expenditures (CapEx)	15	12	29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	308	246	180
Debt-free Net Working Capital (DFNWC)	332	276	220
Net Working Capital (NWC)	332	276	220
Net Nonoperating Expense (NNE)	0.34	4.72	2.67
Net Nonoperating Obligations (NNO)	41	30	4.85
Total Depreciation and Amortization (D&A)	14	13	12
Debt-free, Cash-free Net Working Capital to Revenue	24.46%	21.32%	21.19%
Debt-free Net Working Capital to Revenue	26.39%	23.91%	25.92%
Net Working Capital to Revenue	26.39%	23.91%	25.92%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$5.55	$5.10	$1.78
Adjusted Weighted Average Basic Shares Outstanding	11.45M	11.44M	11.42M
Adjusted Diluted Earnings per Share	$5.47	$5.07	$1.78
Adjusted Weighted Average Diluted Shares Outstanding	11.60M	11.51M	11.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	11.44M	11.45M	11.42M
Normalized Net Operating Profit after Tax (NOPAT)	64	63	23
Normalized NOPAT Margin	5.08%	5.46%	2.71%
Pre Tax Income Margin	6.37%	6.40%	3.03%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	13.35	8.62
NOPAT to Interest Expense	0.00	10.55	6.81
EBIT Less CapEx to Interest Expense	0.00	11.39	0.05
NOPAT Less CapEx to Interest Expense	0.00	8.59	-1.75
Payout Ratios	-	-	-
Dividend Payout Ratio	13.74%	14.15%	40.40%
Augmented Payout Ratio	18.30%	14.15%	40.40%

This table displays calculated financial ratios and metrics derived from Miller Industries' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-25.09%	14.46%	23.71%	23.95%	31.17%	33.57%	49.01%	30.96%	11.98%	24.80%
EBITDA Growth	-54.06%	-7.56%	32.92%	75.55%	79.34%	133.74%	212.30%	162.46%	124.29%	28.61%
EBIT Growth	-61.02%	-10.26%	36.82%	92.67%	94.85%	180.97%	329.00%	306.58%	201.45%	38.95%
NOPAT Growth	-59.16%	-11.91%	36.08%	100.74%	94.11%	185.49%	309.21%	271.88%	246.09%	48.93%
Net Income Growth	-36.92%	-11.65%	37.54%	84.63%	79.69%	233.70%	296.99%	346.49%	242.25%	36.04%
EPS Growth	-38.62%	-12.50%	37.98%	81.48%	79.01%	230.43%	290.91%	350.00%	252.17%	35.29%
Operating Cash Flow Growth	-273.61%	2,225.10%	-210.44%	232.72%	-45.77%	-59.60%	264.22%	76.62%	51.20%	77.49%
Free Cash Flow Firm Growth	6.51%	19.00%	-85.72%	-44.69%	-2.97%	12.45%	45.21%	0.98%	-2,409.79%	-418.46%
Invested Capital Growth	16.85%	14.79%	23.42%	23.22%	26.72%	21.72%	16.10%	17.58%	29.54%	25.41%
Revenue Q/Q Growth	-29.39%	-15.39%	6.17%	18.10%	7.90%	-8.56%	6.37%	24.98%	9.87%	2.01%
EBITDA Q/Q Growth	-42.32%	-26.21%	21.03%	-3.95%	16.07%	6.11%	59.84%	-8.90%	51.27%	41.78%
EBIT Q/Q Growth	-49.01%	-30.12%	24.45%	-4.30%	17.39%	6.54%	75.25%	-11.11%	69.28%	62.68%
NOPAT Q/Q Growth	-44.59%	-31.38%	22.80%	-4.76%	19.51%	6.00%	81.14%	-15.41%	75.77%	51.93%
Net Income Q/Q Growth	-31.72%	-24.81%	20.51%	1.95%	-4.36%	17.06%	61.77%	-0.77%	77.60%	39.26%
EPS Q/Q Growth	-33.08%	-25.28%	21.09%	1.38%	-4.61%	17.83%	59.26%	0.00%	76.09%	39.39%
Operating Cash Flow Q/Q Growth	-138.68%	383.56%	-219.02%	32.99%	418.04%	-86.53%	243.02%	-154.34%	285.95%	154.74%
Free Cash Flow Firm Q/Q Growth	-42.18%	33.81%	-5.66%	8.56%	-23.18%	-51.75%	17.68%	33.08%	-4.73%	5.03%
Invested Capital Q/Q Growth	5.27%	-1.52%	9.10%	3.32%	3.41%	5.89%	8.92%	6.25%	-0.67%	1.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.08%	13.37%	13.75%	12.65%	13.04%	15.61%	13.30%	10.78%	11.30%	11.28%
EBITDA Margin	6.09%	7.46%	8.55%	7.50%	9.93%	9.23%	7.96%	5.30%	7.26%	5.28%
Operating Margin	4.54%	6.19%	7.62%	6.50%	8.73%	7.92%	6.89%	4.07%	5.88%	3.81%
EBIT Margin	4.54%	6.29%	7.62%	6.50%	8.73%	8.02%	6.89%	4.18%	5.88%	3.81%
Profit (Net Income) Margin	4.75%	4.91%	5.52%	4.87%	5.64%	6.36%	4.97%	3.27%	4.11%	2.55%
Tax Burden Percent	83.40%	78.02%	78.17%	79.22%	79.60%	79.25%	78.59%	78.14%	79.90%	76.95%
Interest Burden Percent	125.27%	100.00%	92.76%	94.52%	81.11%	100.00%	91.78%	100.00%	87.61%	86.71%
Effective Tax Rate	16.60%	21.98%	21.83%	20.78%	20.40%	20.75%	21.41%	21.86%	20.10%	23.05%
Return on Invested Capital (ROIC)	11.62%	16.38%	19.95%	17.77%	23.70%	20.41%	17.08%	9.92%	15.07%	8.97%
ROIC Less NNEP Spread (ROIC-NNEP)	17.63%	17.25%	15.72%	13.23%	1.44%	21.44%	10.12%	-2.47%	20.38%	13.12%
Return on Net Nonoperating Assets (RNNOA)	1.67%	1.36%	1.71%	0.87%	0.08%	1.55%	0.64%	0.02%	-1.74%	-0.88%
Return on Equity (ROE)	13.29%	17.75%	21.66%	18.63%	23.78%	21.96%	17.72%	9.94%	13.33%	8.09%
Cash Return on Invested Capital (CROIC)	0.04%	5.55%	-0.76%	-0.44%	-4.94%	-3.66%	-1.88%	-6.08%	-17.03%	-16.81%
Operating Return on Assets (OROA)	8.69%	12.48%	14.52%	12.65%	17.53%	16.32%	12.64%	7.46%	10.62%	7.10%
Return on Assets (ROA)	9.08%	9.74%	10.53%	9.47%	11.32%	12.94%	9.12%	5.83%	7.43%	4.74%
Return on Common Equity (ROCE)	13.29%	17.75%	21.66%	18.63%	23.78%	21.96%	17.72%	9.94%	13.33%	8.09%
Return on Equity Simple (ROE_SIMPLE)	0.00%	17.63%	18.87%	18.24%	0.00%	15.31%	12.24%	9.12%	0.00%	4.77%
Net Operating Profit after Tax (NOPAT)	8.41	15	22	18	21	17	16	8.97	11	6.03
NOPAT Margin	3.79%	4.83%	5.95%	5.15%	6.95%	6.27%	5.41%	3.18%	4.70%	2.94%
Net Nonoperating Expense Percent (NNEP)	-6.00%	-0.87%	4.23%	4.54%	22.26%	-1.04%	6.96%	12.39%	-5.31%	-4.15%
Return On Investment Capital (ROIC_SIMPLE)	1.80%	-	-	-	5.05%	-	-	-	3.13%	-
Cost of Revenue to Revenue	84.92%	86.63%	86.25%	87.35%	86.96%	84.39%	86.70%	89.22%	88.70%	88.72%
SG&A Expenses to Revenue	8.87%	7.10%	6.13%	6.16%	5.52%	7.04%	6.49%	6.35%	5.81%	7.14%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.53%	7.18%	6.13%	6.15%	4.31%	7.70%	6.41%	6.71%	5.42%	7.46%
Earnings before Interest and Taxes (EBIT)	10	20	28	23	26	22	21	12	13	7.84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	23	32	26	29	25	24	15	16	11
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.86	1.77	1.66	1.58	1.37	1.33	1.26	1.31	1.00	0.81
Price to Tangible Book Value (P/TBV)	1.96	1.86	1.75	1.67	1.46	1.42	1.35	1.36	1.05	0.85
Price to Revenue (P/Rev)	0.59	0.52	0.49	0.47	0.41	0.41	0.39	0.43	0.35	0.29
Price to Earnings (P/E)	11.78	10.03	8.80	8.65	8.20	8.69	10.33	14.36	14.48	17.07
Dividend Yield	1.16%	1.23%	1.35%	1.46%	1.72%	1.86%	2.06%	2.08%	2.79%	3.50%
Earnings Yield	8.49%	9.97%	11.36%	11.56%	12.20%	11.51%	9.68%	6.96%	6.91%	5.86%
Enterprise Value to Invested Capital (EV/IC)	1.78	1.72	1.59	1.54	1.34	1.30	1.24	1.29	1.00	0.82
Enterprise Value to Revenue (EV/Rev)	0.63	0.54	0.52	0.49	0.44	0.44	0.42	0.45	0.35	0.30
Enterprise Value to EBITDA (EV/EBITDA)	8.37	6.54	6.02	5.73	5.46	5.94	6.52	8.24	7.33	7.77
Enterprise Value to EBIT (EV/EBIT)	9.84	7.51	6.87	6.59	6.37	7.08	8.05	10.88	10.29	12.20
Enterprise Value to NOPAT (EV/NOPAT)	12.35	9.53	8.69	8.32	8.06	8.96	10.25	13.87	13.01	15.95
Enterprise Value to Operating Cash Flow (EV/OCF)	46.73	20.46	106.72	22.46	46.33	28.53	23.08	135.97	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	5,299.21	33.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	0.16	0.18	0.15	0.17	0.18	0.19	0.15	0.15	0.16
Long-Term Debt to Equity	0.16	0.16	0.18	0.15	0.17	0.18	0.19	0.15	0.15	0.16
Financial Leverage	0.09	0.08	0.11	0.07	0.05	0.07	0.06	-0.01	-0.09	-0.07
Leverage Ratio	1.75	1.85	1.95	1.89	1.79	1.71	1.83	1.74	1.62	1.53
Compound Leverage Factor	2.20	1.85	1.81	1.79	1.45	1.71	1.68	1.74	1.42	1.33
Debt to Total Capital	13.95%	14.12%	15.56%	13.18%	14.71%	15.29%	15.97%	12.98%	13.30%	13.49%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	13.95%	14.12%	15.56%	13.18%	14.71%	15.29%	15.97%	12.98%	13.30%	13.49%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	86.05%	85.88%	84.44%	86.82%	85.29%	84.71%	84.03%	87.02%	86.70%	86.51%
Debt to EBITDA	0.69	0.59	0.62	0.53	0.65	0.75	0.91	0.90	1.10	1.42
Net Debt to EBITDA	0.43	0.22	0.41	0.27	0.32	0.41	0.45	0.31	0.12	0.37
Long-Term Debt to EBITDA	0.69	0.59	0.62	0.53	0.65	0.75	0.91	0.90	1.10	1.42
Debt to NOPAT	1.02	0.86	0.90	0.76	0.95	1.13	1.43	1.52	1.96	2.91
Net Debt to NOPAT	0.64	0.32	0.59	0.39	0.48	0.63	0.70	0.52	0.21	0.76
Long-Term Debt to NOPAT	1.02	0.86	0.90	0.76	0.95	1.13	1.43	1.52	1.96	2.91
Altman Z-Score	4.75	3.99	3.83	3.81	3.82	3.98	3.48	3.52	3.57	3.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.68	2.12	2.08	2.03	2.17	2.38	2.09	2.12	2.41	2.55
Quick Ratio	1.71	1.43	1.41	1.33	1.35	1.42	1.31	1.28	1.40	1.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-55	-39	-59	-56	-59	-48	-32	-38	-57	-55
Operating Cash Flow to CapEx	-911.98%	481.58%	-349.84%	192.52%	338.69%	39.07%	209.30%	-386.74%	326.52%	141.01%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-28.68	-44.65	0.00	0.00	-18.60	0.00	0.00	-52.61
Operating Cash Flow to Interest Expense	0.00	0.00	-5.22	7.21	0.00	0.00	5.69	0.00	0.00	3.10
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-6.71	3.47	0.00	0.00	2.97	0.00	0.00	0.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.91	1.98	1.91	1.95	2.01	2.03	1.84	1.78	1.81	1.86
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	5.78	6.30	6.29	6.05	5.83	5.89	5.80	5.66	5.70	5.94
Fixed Asset Turnover	10.89	11.35	11.15	10.75	10.15	9.47	8.83	8.77	8.18	7.82
Accounts Payable Turnover	6.44	6.07	5.16	5.30	6.31	7.43	5.48	5.30	6.20	7.70
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	63.14	57.89	58.05	60.31	62.59	61.99	62.94	64.45	63.98	61.47
Days Payable Outstanding (DPO)	56.70	60.16	70.69	68.92	57.82	49.14	66.60	68.91	58.90	47.40
Cash Conversion Cycle (CCC)	6.44	-2.26	-12.64	-8.61	4.77	12.84	-3.65	-4.46	5.08	14.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	442	420	426	391	378	366	345	317	298	300
Invested Capital Turnover	3.07	3.39	3.35	3.45	3.41	3.25	3.16	3.12	3.21	3.05
Increase / (Decrease) in Invested Capital	64	54	81	74	80	65	48	47	68	61
Enterprise Value (EV)	788	723	677	600	508	475	429	410	299	247
Market Capitalization	748	699	631	572	478	442	399	395	295	235
Book Value per Share	$35.06	$34.50	$33.12	$31.66	$30.40	$29.04	$27.60	$26.42	$25.70	$25.27
Tangible Book Value per Share	$33.31	$32.76	$31.38	$29.91	$28.65	$27.24	$25.80	$25.41	$24.69	$24.25
Total Capital	466	460	450	417	408	392	376	347	338	334
Total Debt	65	65	70	55	60	60	60	45	45	45
Total Long-Term Debt	65	65	70	55	60	60	60	45	45	45
Net Debt	41	24	46	28	30	33	29	15	4.85	12
Capital Expenditures (CapEx)	1.29	6.29	3.05	4.66	1.99	3.34	4.62	1.75	3.81	2.29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	308	284	293	257	246	234	214	200	180	180
Debt-free Net Working Capital (DFNWC)	332	325	317	284	276	261	244	229	220	214
Net Working Capital (NWC)	332	325	317	284	276	261	244	229	220	214
Net Nonoperating Expense (NNE)	-2.12	-0.25	1.60	0.99	3.89	-0.23	1.34	-0.25	1.31	0.80
Net Nonoperating Obligations (NNO)	41	24	46	28	30	33	29	15	4.85	12
Total Depreciation and Amortization (D&A)	3.44	3.66	3.47	3.51	3.56	3.32	3.21	3.15	3.13	3.01
Debt-free, Cash-free Net Working Capital to Revenue	24.46%	21.33%	22.71%	21.08%	21.32%	21.58%	21.09%	21.80%	21.19%	21.89%
Debt-free Net Working Capital to Revenue	26.39%	24.38%	24.55%	23.28%	23.91%	24.06%	24.09%	25.05%	25.92%	25.91%
Net Working Capital to Revenue	26.39%	24.38%	24.55%	23.28%	23.91%	24.06%	24.09%	25.05%	25.92%	25.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.92	$1.35	$1.79	$1.49	$1.46	$1.53	$1.30	$0.81	$0.81	$0.46
Adjusted Weighted Average Basic Shares Outstanding	11.45M	11.45M	11.46M	11.45M	11.44M	11.45M	11.47M	11.43M	11.42M	11.42M
Adjusted Diluted Earnings per Share	$0.89	$1.33	$1.78	$1.47	$1.45	$1.52	$1.29	$0.81	$0.81	$0.46
Adjusted Weighted Average Diluted Shares Outstanding	11.60M	11.60M	11.55M	11.56M	11.51M	11.52M	11.53M	11.43M	11.42M	11.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	11.44M	11.44M	11.45M	11.47M	11.45M	11.45M	11.45M	11.44M	11.42M	11.42M
Normalized Net Operating Profit after Tax (NOPAT)	8.41	15	22	18	21	17	16	8.97	11	6.03
Normalized NOPAT Margin	3.79%	4.83%	5.95%	5.15%	6.95%	6.27%	5.41%	3.18%	4.70%	2.94%
Pre Tax Income Margin	5.69%	6.29%	7.07%	6.14%	7.08%	8.02%	6.32%	4.18%	5.15%	3.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	13.81	18.26	0.00	0.00	12.16	0.00	0.00	7.53
NOPAT to Interest Expense	0.00	0.00	10.80	14.47	0.00	0.00	9.56	0.00	0.00	5.79
EBIT Less CapEx to Interest Expense	0.00	0.00	12.32	14.51	0.00	0.00	9.44	0.00	0.00	5.33
NOPAT Less CapEx to Interest Expense	0.00	0.00	9.31	10.72	0.00	0.00	6.84	0.00	0.00	3.60
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	13.74%	12.37%	11.86%	12.66%	14.15%	16.18%	21.29%	29.90%	40.40%	59.69%
Augmented Payout Ratio	18.30%	12.37%	11.86%	12.66%	14.15%	16.18%	21.29%	29.90%	40.40%	59.69%

Frequently Asked Questions About Miller Industries' Financials

When does Miller Industries's fiscal year end?

According to the most recent income statement we have on file, Miller Industries' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Miller Industries' net income changed over the last 2 years?

Miller Industries' net income appears to be on an upward trend, with a most recent value of $63.49 million in 2024, rising from $20.35 million in 2022. The previous period was $58.29 million in 2023. Find out what analysts predict for Miller Industries in the coming months.

What is Miller Industries's operating income?

Miller Industries's total operating income in 2024 was $80.56 million, based on the following breakdown:

Total Gross Profit: $170.81 million
Total Operating Expenses: $90.25 million

How has Miller Industries revenue changed over the last 2 years?

Over the last 2 years, Miller Industries' total revenue changed from $848.46 million in 2022 to $1.26 billion in 2024, a change of 48.2%.

How much debt does Miller Industries have?

Miller Industries' total liabilities were at $265.99 million at the end of 2024, a 11.1% decrease from 2023, and a 27.9% increase since 2022.

How much cash does Miller Industries have?

In the past 2 years, Miller Industries' cash and equivalents has ranged from $24.34 million in 2024 to $40.15 million in 2022, and is currently $24.34 million as of their latest financial filing in 2024.

How has Miller Industries' book value per share changed over the last 2 years?

Over the last 2 years, Miller Industries' book value per share changed from 25.70 in 2022 to 35.06 in 2024, a change of 36.4%.

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This page (NYSE:MLR) was last updated on 5/21/2025 by MarketBeat.com Staff

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Miller Industries (MLR) Financials

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Miller Industries (MLR) Financials

Annual Income Statements for Miller Industries

Quarterly Income Statements for Miller Industries

Annual Cash Flow Statements for Miller Industries

Quarterly Cash Flow Statements for Miller Industries

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