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Miller Industries (MLR) Financials

Miller Industries logo
$49.20 +0.19 (+0.38%)
Closing price 07/2/2026 03:58 PM Eastern
Extended Trading
$49.06 -0.14 (-0.28%)
As of 07/2/2026 05:39 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Miller Industries

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 16 20 23 34 39 30 16 20 58 63 23
Consolidated Net Income / (Loss)		 16 20 23 34 39 30 16 20 58 63 23
Net Income / (Loss) Continuing Operations		 16 20 23 34 39 30 16 20 58 63 23
Total Pre-Tax Income 		25 31 30 42 50 38 22 26 74 80 31
Total Operating Income		 26 32 32 44 53 39 23 29 80 84 32
Total Gross Profit		 58 64 67 83 96 78 70 82 152 171 120
Total Revenue		 541 601 615 712 818 651 717 848 1,153 1,258 790
Operating Revenue		 541 601 615 712 818 651 717 848 1,153 1,258 790
Total Cost of Revenue		 483 537 548 628 722 573 648 766 1,002 1,087 670
Operating Cost of Revenue		 483 537 548 628 722 573 648 766 1,002 1,087 670
Total Operating Expenses		 32 32 35 40 44 39 47 53 72 87 88
Selling, General & Admin Expense		 31 32 36 40 43 40 46 53 73 86 89
Other Operating Expenses / (Income)		 0.34 -0.28 -0.39 0.25 0.33 -0.67 0.50 0.48 -0.99 0.43 -0.75
Total Other Income / (Expense), net		 -0.92 -1.16 -1.59 -1.88 -2.38 -1.22 -1.36 -3.38 -5.97 -3.93 -0.66
Interest Expense		 - - 1.59 1.88 2.38 1.22 1.36 3.38 5.97 3.93 0.66
Income Tax Expense		 8.89 11 7.32 7.92 11 8.27 5.51 5.39 15 17 8.48
Basic Earnings per Share		 $1.41 $1.76 $2.02 $2.96 $3.43 $2.62 $1.42 $1.78 $5.10 $5.55 $2.01
Weighted Average Basic Shares Outstanding		 11.32M 11.35M 11.37M 11.39M 11.40M 11.41M 11.41M 11.42M 11.44M 11.45M 11.45M
Diluted Earnings per Share		 $1.41 $1.75 $2.02 $2.96 $3.43 $2.62 $1.42 $1.78 $5.07 $5.47 $1.98
Weighted Average Diluted Shares Outstanding		 11.36M 11.37M 11.39M 11.39M 11.40M 11.41M 11.41M 11.42M 11.51M 11.60M 11.61M
Weighted Average Basic & Diluted Shares Outstanding		 11.30M 11.30M 11.40M 11.40M 11.41M 11.41M 11.42M 11.42M 11.45M 11.44M 11.37M
Cash Dividends to Common per Share		 $0.64 $0.68 $0.72 $0.72 $0.72 $0.72 $0.72 $0.72 $0.72 $0.76 $0.80

Quarterly Income Statements for Miller Industries

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 17 17 17 21 15 11 8.07 8.46 3.08 3.41 0.56
Consolidated Net Income / (Loss)		 17 17 17 21 15 11 8.07 8.46 3.08 3.41 0.56
Net Income / (Loss) Continuing Operations		 17 17 17 21 15 11 8.07 8.46 3.08 3.41 0.56
Total Pre-Tax Income 		22 21 21 26 20 13 11 11 4.30 5.03 1.60
Total Operating Income		 22 26 23 28 20 10 11 11 4.40 5.98 1.59
Total Gross Profit		 43 39 44 51 42 33 34 35 25 27 26
Total Revenue		 275 296 350 371 314 222 226 214 179 172 181
Operating Revenue		 275 296 350 371 314 222 226 214 179 172 181
Total Cost of Revenue		 232 258 306 320 272 188 192 179 153 145 155
Operating Cost of Revenue		 232 258 306 320 272 188 192 179 153 145 155
Total Operating Expenses		 21 13 22 23 22 23 23 24 21 21 24
Selling, General & Admin Expense		 19 16 22 23 22 20 23 23 21 21 24
Other Operating Expenses / (Income)		 1.81 -3.59 -0.03 0.01 -0.32 3.70 -0.20 0.29 -0.31 -0.53 0.15
Total Other Income / (Expense), net		 0.29 -4.89 -1.25 -2.05 -0.25 2.55 -0.10 0.48 -0.09 -0.95 0.02
Other Income / (Expense), net		 0.29 - - - - - - 0.48 - - 0.02
Income Tax Expense		 4.57 4.28 4.47 5.73 4.35 2.10 2.73 2.91 1.22 1.62 1.05
Basic Earnings per Share		 $1.53 $1.46 $1.49 $1.79 $1.35 $0.92 $0.70 $0.74 $0.27 $0.30 $0.05
Weighted Average Basic Shares Outstanding		 11.45M 11.44M 11.45M 11.46M 11.45M 11.45M 11.45M 11.46M 11.45M 11.45M 11.39M
Diluted Earnings per Share		 $1.52 $1.45 $1.47 $1.78 $1.33 $0.89 $0.69 $0.73 $0.27 $0.29 $0.05
Weighted Average Diluted Shares Outstanding		 11.52M 11.51M 11.56M 11.55M 11.60M 11.60M 11.61M 11.60M 11.59M 11.61M 11.53M
Weighted Average Basic & Diluted Shares Outstanding		 11.45M 11.45M 11.47M 11.45M 11.44M 11.44M 11.46M 11.46M 11.43M 11.37M 11.40M
Cash Dividends to Common per Share		 $0.18 $0.18 $0.19 $0.19 $0.19 $0.19 $0.20 $0.20 $0.20 $0.20 $0.21

Annual Cash Flow Statements for Miller Industries

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -1.15 -7.33 -9.22 5.14 -0.97 31 -3.19 -14 -10 -5.57 20
Net Cash From Operating Activities		 20 21 14 22 35 61 15 -19 11 17 99
Net Cash From Continuing Operating Activities		 20 21 14 22 35 61 15 -19 11 17 99
Net Income / (Loss) Continuing Operations		 16 20 23 34 39 30 16 20 58 63 23
Consolidated Net Income / (Loss)		 16 20 23 34 39 30 16 20 58 63 23
Depreciation Expense		 4.32 4.83 6.15 7.75 9.13 9.60 11 12 13 14 15
Non-Cash Adjustments To Reconcile Net Income		 0.45 -0.35 -0.37 0.52 0.14 0.41 0.03 1.06 1.13 3.48 4.84
Changes in Operating Assets and Liabilities, net		 -0.58 -3.48 -15 -20 -13 21 -12 -52 -62 -64 56
Net Cash From Investing Activities		 -12 -25 -23 -13 -17 -17 -9.06 -29 -29 -15 -31
Net Cash From Continuing Investing Activities		 -12 -25 -23 -13 -17 -17 -9.06 -29 -29 -15 -31
Purchase of Property, Plant & Equipment		 -12 -25 -25 -13 -17 -18 -9.15 -29 -12 -15 -14
Acquisitions		 - - - - - - 0.00 0.00 -17 0.02 -19
Sale of Property, Plant & Equipment		 0.00 0.00 1.30 0.14 0.33 0.28 0.09 0.01 0.40 0.06 1.54
Net Cash From Financing Activities		 -7.07 -2.71 -2.44 -2.97 -19 -14 -8.24 37 6.75 -6.62 -51
Net Cash From Continuing Financing Activities		 -7.07 -2.71 -2.44 -2.97 -19 -14 -8.24 37 6.75 -6.62 -51
Repayment of Debt		 - - - - -0.37 -5.40 0.00 45 15 5.00 -36
Repurchase of Common Equity		 - - - - - - - 0.00 0.00 -2.90 -5.99
Payment of Dividends		 -7.25 -7.72 -8.19 -8.20 -8.21 -8.21 -8.22 -8.22 -8.25 -8.72 -9.15
Effect of Exchange Rate Changes		 -2.35 -0.53 2.65 -0.59 -0.44 1.60 -1.16 -2.86 1.12 -0.55 3.16
Cash Interest Paid		 1.43 1.88 1.88 2.44 3.25 2.05 1.57 3.33 8.09 9.71 7.05
Cash Income Taxes Paid		 8.57 12 12 7.46 10 6.72 5.89 1.81 18 24 7.50

Quarterly Cash Flow Statements for Miller Industries

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -3.66 3.06 -3.10 -2.99 17 -16 3.02 4.46 6.58 6.28 8.29
Net Cash From Operating Activities		 1.30 6.75 8.98 -11 30 -12 2.71 27 20 49 31
Net Cash From Continuing Operating Activities		 1.30 6.75 8.98 -11 30 -12 2.71 27 20 49 31
Net Income / (Loss) Continuing Operations		 17 17 17 21 15 11 8.07 8.46 3.08 3.41 0.56
Consolidated Net Income / (Loss)		 17 17 17 21 15 11 8.07 8.46 3.08 3.41 0.56
Depreciation Expense		 3.32 3.56 3.51 3.47 3.66 3.44 3.66 3.72 3.51 3.80 4.22
Non-Cash Adjustments To Reconcile Net Income		 0.46 0.23 0.21 1.37 0.83 1.07 1.96 1.22 0.73 0.93 0.08
Changes in Operating Assets and Liabilities, net		 -20 -14 -12 -36 10 -27 -11 14 13 41 26
Net Cash From Investing Activities		 -3.34 -1.57 -4.66 -3.03 -6.29 -1.29 -5.13 -1.68 -0.52 -23 -7.89
Net Cash From Continuing Investing Activities		 -3.34 -1.57 -4.66 -3.03 -6.29 -1.29 -5.13 -1.68 -0.52 -23 -7.89
Purchase of Property, Plant & Equipment		 -3.12 -2.36 -4.67 -3.12 -6.29 -1.27 -5.13 -1.68 -1.80 -5.11 -7.92
Acquisitions		 - 0.43 - 0.02 - - 0.00 - - -19 0.00
Sale of Property, Plant & Equipment		 -0.21 0.37 0.01 0.07 - -0.02 0.00 - 1.28 0.26 0.04
Net Cash From Financing Activities		 -2.06 -2.07 -7.18 11 -8.03 -2.17 5.61 -23 -13 -20 -15
Net Cash From Continuing Financing Activities		 -2.06 -2.07 -7.18 11 -8.03 -2.17 5.61 -23 -13 -20 -15
Repayment of Debt		 - - -5.00 - - - 10 -10 -10 -16 -10
Repurchase of Common Equity		 - - 0.00 - -0.85 - -2.10 -0.50 -1.16 -2.22 -2.18
Payment of Dividends		 -2.06 -2.07 -2.18 -2.19 -2.18 -2.17 -2.29 -2.29 -2.29 -2.29 -2.39
Effect of Exchange Rate Changes		 0.44 -0.05 -0.24 -0.04 0.81 -1.09 -0.17 1.69 0.64 1.00 -0.01
Cash Interest Paid		 2.29 2.33 1.00 3.89 2.50 2.33 0.96 3.50 1.41 1.18 0.82
Cash Income Taxes Paid		 4.71 5.07 0.28 11 7.30 5.19 0.76 2.72 3.16 0.86 0.69

Annual Balance Sheets for Miller Industries

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 268 297 317 368 392 398 438 501 647 667 590
Total Current Assets		 216 226 227 273 287 286 329 376 510 530 440
Cash & Equivalents		 38 31 22 27 26 58 54 40 30 24 45
Note & Lease Receivable		 109 125 133 149 169 142 154 178 286 313 198
Inventories, net		 66 64 69 94 88 84 115 154 190 186 184
Prepaid Expenses		 1.69 5.01 4.27 3.27 4.80 3.17 5.75 4.58 4.62 5.85 12
Plant, Property, & Equipment, net		 39 60 78 83 91 99 95 112 115 116 124
Total Noncurrent Assets		 13 12 12 12 14 14 13 13 22 21 26
Goodwill		 12 12 12 12 12 12 12 12 20 20 20
Other Noncurrent Operating Assets		 0.50 0.57 0.56 0.50 2.16 1.90 1.76 1.62 1.65 1.27 6.20
Total Liabilities & Shareholders' Equity		 268 297 317 368 392 398 438 501 647 667 590
Total Liabilities		 94 113 114 141 134 116 153 208 299 266 169
Total Current Liabilities		 94 106 102 123 124 111 147 156 235 198 137
Short-Term Debt		 - - 0.39 0.29 0.37 - - - - 0.00 2.25
Accounts Payable		 73 85 79 98 96 86 122 126 192 146 79
Accrued Expenses		 21 21 22 25 28 25 23 28 41 52 56
Other Current Liabilities		 - - - 0.02 0.35 0.38 0.38 0.31 0.32 0.32 0.18
Total Noncurrent Liabilities		 0.00 6.99 12 17 9.76 5.28 6.04 52 65 68 33
Long-Term Debt		 - 5.00 10 15 5.00 - 0.00 45 60 65 31
Noncurrent Deferred & Payable Income Tax Liabilities		 - 1.99 1.13 1.70 3.42 4.14 5.17 6.23 4.07 2.89 1.37
Other Noncurrent Operating Liabilities		 - - - 0.06 1.34 1.13 0.87 0.60 0.51 0.23 0.10
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 174 185 203 228 258 282 285 293 348 401 421
Total Preferred & Common Equity		 174 185 203 228 258 282 285 293 348 401 421
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 174 185 203 228 258 282 285 293 348 401 421
Common Stock		 150 151 151 151 151 151 152 153 154 154 153
Retained Earnings		 29 41 56 81 112 134 138 150 200 255 269
Accumulated Other Comprehensive Income / (Loss)		 -5.10 -6.67 -3.29 -4.81 -5.50 -2.79 -4.95 -9.17 -5.93 -7.73 -1.39

Quarterly Balance Sheets for Miller Industries

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 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 477 558 607 587 697 748 755 640 623 604 586
Total Current Assets		 352 434 469 449 559 611 615 501 485 469 430
Cash & Equivalents		 33 30 31 27 27 24 41 27 32 38 53
Note & Lease Receivable		 168 233 265 241 339 392 374 293 270 233 187
Inventories, net		 144 164 167 176 184 187 190 165 165 181 172
Prepaid Expenses		 6.05 6.77 6.39 5.34 8.84 8.10 10 16 18 18 18
Plant, Property, & Equipment, net		 113 111 116 116 116 116 119 118 116 114 128
Total Noncurrent Assets		 13 13 22 22 22 21 21 21 22 21 28
Goodwill		 12 12 21 21 20 20 20 20 20 20 20
Other Noncurrent Operating Assets		 1.57 1.53 1.45 1.49 1.52 1.40 1.32 1.26 1.56 1.36 7.39
Total Liabilities & Shareholders' Equity		 477 558 607 587 697 748 755 640 623 604 586
Total Liabilities		 189 256 291 255 334 368 360 233 204 184 168
Total Current Liabilities		 138 205 225 189 275 294 291 155 146 136 145
Short-Term Debt		 - - - - - - - - - - 2.18
Accounts Payable		 107 169 189 147 229 243 234 114 98 82 86
Accrued Expenses		 30 30 35 40 44 50 55 40 47 52 56
Other Current Liabilities		 0.32 0.31 0.31 0.28 0.31 0.31 0.31 0.32 0.31 0.24 0.35
Total Noncurrent Liabilities		 51 52 67 67 60 75 69 78 58 48 24
Long-Term Debt		 45 45 60 60 55 70 65 75 55 45 21
Noncurrent Deferred & Payable Income Tax Liabilities		 5.20 6.16 6.18 6.09 4.11 4.16 4.08 2.78 2.85 2.79 1.34
Other Noncurrent Operating Liabilities		 0.63 0.57 0.50 0.42 0.43 0.35 0.29 0.18 0.14 0.12 1.44
Commitments & Contingencies		 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 289 302 316 332 362 380 395 407 419 421 417
Total Preferred & Common Equity		 289 302 316 332 362 380 395 407 419 421 417
Preferred Stock		 0.00 0.00 0.00 - - - - - 0.00 0.00 0.00
Total Common Equity		 289 302 316 332 362 380 395 407 419 421 417
Common Stock		 152 153 153 153 154 153 153 154 154 154 151
Retained Earnings		 147 157 170 186 215 233 247 261 267 268 267
Accumulated Other Comprehensive Income / (Loss)		 -11 -8.19 -7.28 -6.46 -6.51 -6.57 -4.44 -7.85 -2.58 -1.28 -0.65

Annual Metrics And Ratios for Miller Industries

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 11,341,150.00 11,345,560.00 11,378,482.00 11,394,546.00 11,400,102.00 11,405,468.00 11,410,728.00 - - - 11,431,416.00
DEI Adjusted Shares Outstanding		 11,341,150.00 11,345,560.00 11,378,482.00 11,394,546.00 11,400,102.00 11,405,468.00 11,410,728.00 - - - 11,431,416.00
DEI Earnings Per Adjusted Shares Outstanding		 1.41 1.76 2.02 2.96 3.43 2.62 1.42 - - - 2.01
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.78% 11.12% 2.33% 15.71% 14.96% -20.40% 10.16% 18.26% 35.94% 9.03% -37.16%
EBITDA Growth		 9.40% 23.15% 2.72% 34.70% 20.68% -20.97% -30.16% 19.66% 127.54% 1.29% -52.27%
EBIT Growth		 9.72% 25.04% -0.96% 36.38% 21.18% -25.49% -41.19% 25.91% 173.98% 0.47% -61.75%
NOPAT Growth		 11.65% 24.75% 17.20% 45.61% 16.13% -24.84% -43.90% 33.31% 173.75% 1.30% -64.72%
Net Income Growth		 7.67% 24.70% 15.53% 46.62% 15.90% -23.73% -45.51% 25.17% 186.50% 8.93% -63.75%
EPS Growth		 7.63% 24.11% 15.43% 46.53% 15.88% -23.62% -45.80% 25.35% 184.83% 7.89% -63.80%
Operating Cash Flow Growth		 102.93% 3.77% -33.32% 56.93% 60.44% 72.80% -74.85% -225.46% 157.23% 53.88% 485.18%
Free Cash Flow Firm Growth		 107.26% -124.05% -278.09% 218.55% 85.52% 115.12% -72.34% -477.70% 62.90% 100.89% 1,814.87%
Invested Capital Growth		 5.09% 17.04% 21.03% 12.76% 9.68% -5.18% 2.38% 29.54% 26.72% 16.85% -7.36%
Revenue Q/Q Growth		 -2.05% 2.06% 1.84% 2.93% 2.91% -3.67% 3.36% 2.93% 6.50% -5.58% -5.95%
EBITDA Q/Q Growth		 -5.68% 4.11% 7.78% 3.94% 5.88% -0.27% -23.43% 28.61% 16.27% -14.78% -6.33%
EBIT Q/Q Growth		 -6.98% 4.11% 7.54% 4.19% 6.23% -0.76% -31.60% 43.82% 18.74% -16.82% -9.88%
NOPAT Q/Q Growth		 -6.69% 3.65% 28.07% 5.22% -0.80% 0.17% -34.54% 48.70% 18.79% -15.84% -14.58%
Net Income Q/Q Growth		 -10.02% 2.97% 26.65% 4.66% 2.34% 1.11% -36.40% 47.77% 14.55% -8.85% -23.64%
EPS Q/Q Growth		 -9.62% 2.34% 27.04% 4.59% 0.00% 0.00% 0.00% 48.33% 14.45% -9.29% -23.26%
Operating Cash Flow Q/Q Growth		 -5.28% 305.31% -54.68% 5.90% 1.68% 18.49% -35.35% 18.04% -34.20% -52.26% 158.83%
Free Cash Flow Firm Q/Q Growth		 -35.42% 87.15% -225.88% 135.60% -9.23% 17.48% 1.37% 0.82% -37.10% -99.32% 182.20%
Invested Capital Q/Q Growth		 2.39% -7.28% 5.04% 2.24% 2.80% 0.04% -3.83% -0.67% 3.41% 5.27% -4.23%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 10.65% 10.69% 10.91% 11.71% 11.79% 12.03% 9.74% 9.71% 13.17% 13.58% 15.23%
EBITDA Margin		 5.56% 6.17% 6.19% 7.21% 7.56% 7.51% 4.76% 4.82% 8.06% 7.49% 5.93%
Operating Margin		 4.77% 5.36% 5.19% 6.12% 6.45% 6.04% 3.22% 3.43% 6.92% 6.41% 4.07%
EBIT Margin		 4.77% 5.36% 5.19% 6.12% 6.45% 6.04% 3.22% 3.43% 6.92% 6.37% 4.07%
Profit (Net Income) Margin		 2.95% 3.31% 3.74% 4.74% 4.78% 4.58% 2.27% 2.40% 5.05% 5.05% 2.91%
Tax Burden Percent		 64.26% 64.11% 75.86% 81.00% 77.62% 78.30% 74.68% 79.07% 79.00% 79.24% 73.07%
Interest Burden Percent		 96.44% 96.40% 95.03% 95.69% 95.49% 96.91% 94.14% 88.39% 92.51% 100.00% 97.95%
Effective Tax Rate		 35.74% 35.89% 24.14% 19.00% 22.38% 21.70% 25.32% 20.93% 21.00% 20.76% 26.93%
Return on Invested Capital (ROIC)		 12.54% 14.06% 13.83% 17.28% 18.06% 13.32% 7.59% 8.71% 18.63% 15.57% 5.52%
ROIC Less NNEP Spread (ROIC-NNEP)		 14.05% 16.37% 20.27% 30.77% 29.61% 15.75% 9.40% 19.51% -8.38% 14.62% 2.23%
Return on Net Nonoperating Assets (RNNOA)		 -3.20% -2.95% -1.96% -1.61% -1.95% -2.28% -1.85% -1.67% -0.46% 1.38% 0.08%
Return on Equity (ROE)		 9.33% 11.12% 11.87% 15.67% 16.11% 11.04% 5.73% 7.04% 18.18% 16.96% 5.60%
Cash Return on Invested Capital (CROIC)		 7.58% -1.64% -5.20% 5.29% 8.83% 18.64% 5.23% -17.03% -4.94% 0.04% 13.16%
Operating Return on Assets (OROA)		 9.72% 11.40% 10.39% 12.70% 13.88% 9.95% 5.53% 6.20% 13.89% 12.19% 5.12%
Return on Assets (ROA)		 6.02% 7.04% 7.49% 9.85% 10.29% 7.55% 3.89% 4.33% 10.15% 9.66% 3.66%
Return on Common Equity (ROCE)		 9.33% 11.12% 11.87% 15.67% 16.11% 11.04% 5.73% 7.04% 18.18% 16.96% 5.60%
Return on Equity Simple (ROE_SIMPLE)		 9.19% 10.79% 11.33% 14.83% 15.16% 10.56% 5.71% 6.93% 16.75% 15.83% 0.00%
Net Operating Profit after Tax (NOPAT)		 17 21 24 35 41 31 17 23 63 64 23
NOPAT Margin		 3.06% 3.44% 3.94% 4.96% 5.01% 4.73% 2.41% 2.71% 5.46% 5.08% 2.97%
Net Nonoperating Expense Percent (NNEP)		 -1.51% -2.31% -6.44% -13.48% -11.54% -2.43% -1.81% -10.80% 27.02% 0.95% 3.29%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 6.80% 15.45% 13.70% 5.18%
Cost of Revenue to Revenue		 89.35% 89.31% 89.09% 88.29% 88.21% 87.97% 90.26% 90.29% 86.83% 86.42% 84.77%
SG&A Expenses to Revenue		 5.82% 5.38% 5.78% 5.56% 5.30% 6.10% 6.44% 6.23% 6.34% 6.86% 11.26%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 5.88% 5.33% 5.72% 5.59% 5.34% 6.00% 6.51% 6.28% 6.25% 7.18% 11.17%
Earnings before Interest and Taxes (EBIT)		 26 32 32 44 53 39 23 29 80 80 32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 30 37 38 51 62 49 34 41 93 94 47
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.16 1.37 1.25 1.20 1.49 1.43 1.27 1.00 1.37 1.86 1.01
Price to Tangible Book Value (P/TBV)		 1.24 1.46 1.32 1.26 1.56 1.49 1.32 1.05 1.46 1.96 1.06
Price to Revenue (P/Rev)		 0.37 0.42 0.41 0.38 0.47 0.62 0.50 0.35 0.41 0.59 0.54
Price to Earnings (P/E)		 12.60 12.66 11.02 8.09 9.83 13.51 22.20 14.48 8.20 11.78 18.47
Dividend Yield		 3.61% 3.06% 3.23% 3.00% 2.14% 2.04% 2.28% 2.79% 1.72% 1.16% 2.15%
Earnings Yield		 7.94% 7.90% 9.07% 12.36% 10.18% 7.40% 4.50% 6.91% 12.20% 8.49% 5.41%
Enterprise Value to Invested Capital (EV/IC)		 1.20 1.43 1.26 1.21 1.53 1.54 1.33 1.00 1.34 1.78 1.01
Enterprise Value to Revenue (EV/Rev)		 0.30 0.38 0.39 0.37 0.44 0.53 0.43 0.35 0.44 0.63 0.52
Enterprise Value to EBITDA (EV/EBITDA)		 5.41 6.10 6.37 5.10 5.87 7.06 8.97 7.33 5.46 8.37 8.83
Enterprise Value to EBIT (EV/EBIT)		 6.31 7.01 7.59 6.01 6.89 8.79 13.26 10.29 6.37 9.84 12.87
Enterprise Value to NOPAT (EV/NOPAT)		 9.83 10.94 10.01 7.42 8.88 11.22 17.75 13.01 8.06 12.35 17.61
Enterprise Value to Operating Cash Flow (EV/OCF)		 8.07 10.80 17.37 11.95 10.35 5.69 20.08 0.00 46.33 46.73 4.19
Enterprise Value to Free Cash Flow (EV/FCFF)		 16.26 0.00 0.00 24.25 18.16 8.02 25.73 0.00 0.00 5,299.21 7.39
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.03 0.05 0.07 0.02 0.00 0.00 0.15 0.17 0.16 0.08
Long-Term Debt to Equity		 0.00 0.03 0.05 0.07 0.02 0.00 0.00 0.15 0.17 0.16 0.07
Financial Leverage		 -0.23 -0.18 -0.10 -0.05 -0.07 -0.14 -0.20 -0.09 0.05 0.09 0.04
Leverage Ratio		 1.55 1.58 1.59 1.59 1.57 1.46 1.47 1.62 1.79 1.75 1.53
Compound Leverage Factor		 1.50 1.52 1.51 1.52 1.50 1.42 1.39 1.44 1.66 1.75 1.50
Debt to Total Capital		 0.00% 2.64% 4.96% 6.48% 2.04% 0.00% 0.00% 13.30% 14.71% 13.95% 7.34%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.18% 0.12% 0.14% 0.00% 0.00% 0.00% 0.00% 0.00% 0.49%
Long-Term Debt to Total Capital		 0.00% 2.64% 4.78% 6.36% 1.90% 0.00% 0.00% 13.30% 14.71% 13.95% 6.84%
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% 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% 0.00%
Common Equity to Total Capital		 100.00% 97.36% 95.04% 93.52% 97.96% 100.00% 100.00% 86.70% 85.29% 86.05% 92.66%
Debt to EBITDA		 0.00 0.13 0.28 0.31 0.09 0.00 0.00 1.10 0.65 0.69 0.71
Net Debt to EBITDA		 0.00 -0.70 -0.30 -0.22 -0.33 0.00 0.00 0.12 0.32 0.43 -0.24
Long-Term Debt to EBITDA		 0.00 0.13 0.27 0.30 0.08 0.00 0.00 1.10 0.65 0.69 0.66
Debt to NOPAT		 0.00 0.24 0.44 0.45 0.13 0.00 0.00 1.96 0.95 1.02 1.42
Net Debt to NOPAT		 0.00 -1.26 -0.47 -0.32 -0.51 0.00 0.00 0.21 0.48 0.64 -0.48
Long-Term Debt to NOPAT		 0.00 0.24 0.42 0.44 0.12 0.00 0.00 1.96 0.95 1.02 1.32
Altman Z-Score		 4.30 4.39 4.33 4.29 5.15 5.05 4.17 3.68 4.09 5.10 4.28
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.28 2.13 2.24 2.21 2.31 2.59 2.24 2.41 2.17 2.68 3.22
Quick Ratio		 1.56 1.48 1.52 1.43 1.57 1.80 1.42 1.40 1.35 1.71 1.78
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 10 -2.41 -9.10 11 20 43 12 -45 -17 0.15 56
Operating Cash Flow to CapEx		 169.47% 83.63% 59.65% 165.87% 205.90% 352.47% 168.54% -66.21% 93.71% 110.31% 811.18%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -5.73 5.75 8.42 35.45 8.79 -13.32 -2.79 0.00 84.85
Operating Cash Flow to Interest Expense		 0.00 0.00 8.79 11.66 14.77 49.97 11.27 -5.67 1.84 0.00 149.58
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -5.94 4.63 7.60 35.79 4.58 -14.23 -0.12 0.00 131.14
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.04 2.12 2.00 2.08 2.15 1.65 1.72 1.81 2.01 1.91 1.26
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 7.88 8.24 8.26 7.74 7.94 6.67 6.51 5.70 5.83 5.78 3.62
Fixed Asset Turnover		 15.13 12.13 8.96 8.87 9.43 6.88 7.40 8.18 10.15 10.89 6.59
Accounts Payable Turnover		 6.71 6.77 6.67 7.08 7.44 6.32 6.25 6.20 6.31 6.44 5.97
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 46.32 44.32 44.19 47.15 45.96 54.76 56.03 63.98 62.59 63.14 100.91
Days Payable Outstanding (DPO)		 54.38 53.89 54.76 51.56 49.05 57.75 58.41 58.90 57.82 56.70 61.14
Cash Conversion Cycle (CCC)		 -8.05 -9.57 -10.56 -4.41 -3.09 -2.99 -2.38 5.08 4.77 6.44 39.78
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 135 158 192 216 237 225 230 298 378 442 409
Invested Capital Turnover		 4.09 4.09 3.51 3.49 3.61 2.82 3.15 3.21 3.41 3.07 1.86
Increase / (Decrease) in Invested Capital		 6.56 23 33 24 21 -12 5.35 68 80 64 -33
Enterprise Value (EV)		 163 226 242 262 364 346 307 299 508 788 414
Market Capitalization		 201 252 254 273 384 403 361 295 478 748 425
Book Value per Share		 $15.33 $16.27 $17.85 $19.97 $22.63 $24.76 $24.94 $25.70 $30.40 $35.06 $36.79
Tangible Book Value per Share		 $14.31 $15.25 $16.83 $18.95 $21.61 $23.75 $23.92 $24.69 $28.65 $33.31 $35.03
Total Capital		 174 190 214 243 263 282 285 338 408 466 454
Total Debt		 0.00 5.00 11 16 5.37 0.00 0.00 45 60 65 33
Total Long-Term Debt		 0.00 5.00 10 15 5.00 0.00 0.00 45 60 65 31
Net Debt		 -38 -26 -11 -11 -21 -58 -54 4.85 30 41 -11
Capital Expenditures (CapEx)		 12 25 23 13 17 17 9.06 29 12 15 12
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 83 89 104 123 137 118 128 180 246 308 261
Debt-free Net Working Capital (DFNWC)		 121 120 126 150 164 176 182 220 276 332 305
Net Working Capital (NWC)		 121 120 126 150 163 176 182 220 276 332 303
Net Nonoperating Expense (NNE)		 0.59 0.74 1.20 1.52 1.85 0.95 1.01 2.67 4.72 0.34 0.48
Net Nonoperating Obligations (NNO)		 -38 -26 -11 -11 -21 -58 -54 4.85 30 41 -11
Total Depreciation and Amortization (D&A)		 4.32 4.83 6.15 7.75 9.13 9.60 11 12 13 14 15
Debt-free, Cash-free Net Working Capital to Revenue		 15.27% 14.75% 16.95% 17.29% 16.80% 18.13% 17.79% 21.19% 21.32% 24.46% 32.97%
Debt-free Net Working Capital to Revenue		 22.38% 19.93% 20.51% 21.09% 19.99% 26.96% 25.36% 25.92% 23.91% 26.39% 38.63%
Net Working Capital to Revenue		 22.38% 19.93% 20.44% 21.05% 19.94% 26.96% 25.36% 25.92% 23.91% 26.39% 38.34%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.41 $1.76 $2.02 $2.96 $3.43 $2.62 $1.42 $1.78 $5.10 $5.55 $2.01
Adjusted Weighted Average Basic Shares Outstanding		 11.32M 11.35M 11.37M 11.39M 11.40M 11.41M 11.41M 11.42M 11.44M 11.45M 11.45M
Adjusted Diluted Earnings per Share		 $1.41 $1.75 $2.02 $2.96 $3.43 $2.62 $1.42 $1.78 $5.07 $5.47 $1.98
Adjusted Weighted Average Diluted Shares Outstanding		 11.36M 11.37M 11.39M 11.39M 11.40M 11.41M 11.41M 11.42M 11.51M 11.60M 11.61M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 11.35M 11.35M 11.38M 11.40M 11.41M 11.41M 11.42M 11.42M 11.45M 11.44M 11.37M
Normalized Net Operating Profit after Tax (NOPAT)		 17 21 24 35 41 31 17 23 63 64 23
Normalized NOPAT Margin		 3.06% 3.44% 3.94% 4.96% 5.01% 4.73% 2.41% 2.71% 5.46% 5.08% 2.97%
Pre Tax Income Margin		 4.60% 5.17% 4.93% 5.85% 6.16% 5.85% 3.03% 3.03% 6.40% 6.37% 3.99%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 20.11 23.18 22.19 32.36 17.06 8.62 13.35 0.00 48.72
NOPAT to Interest Expense		 0.00 0.00 15.25 18.78 17.22 25.33 12.74 6.81 10.55 0.00 35.60
EBIT Less CapEx to Interest Expense		 0.00 0.00 5.38 16.16 15.01 18.18 10.38 0.05 11.39 0.00 30.28
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.52 11.75 10.05 11.16 6.06 -1.75 8.59 0.00 17.16
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 45.40% 38.73% 35.58% 24.30% 20.99% 27.53% 50.54% 40.40% 14.15% 13.74% 39.78%
Augmented Payout Ratio		 45.40% 38.73% 35.58% 24.30% 20.99% 27.53% 50.54% 40.40% 14.15% 18.30% 65.79%

Quarterly Metrics And Ratios for Miller Industries

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 11,439,292.00 11,459,278.00 11,458,123.00 11,431,416.00 11,371,730.00
DEI Adjusted Shares Outstanding		 - - - - - - 11,439,292.00 11,459,278.00 11,458,123.00 11,431,416.00 11,371,730.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.71 0.74 0.27 0.30 0.05
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 33.57% 31.17% 23.95% 23.71% 14.46% -25.09% -35.50% -42.38% -43.15% -22.53% -19.85%
EBITDA Growth		 133.74% 79.34% 75.55% 32.92% -7.56% -54.06% -44.57% -52.49% -66.61% -40.55% -59.95%
EBIT Growth		 180.97% 94.85% 92.67% 36.82% -10.26% -61.02% -52.11% -59.82% -78.04% -54.02% -85.27%
NOPAT Growth		 185.49% 94.11% 100.74% 36.08% -11.91% -59.16% -54.82% -63.37% -79.84% -62.65% -93.24%
Net Income Growth		 233.70% 79.69% 84.63% 37.54% -11.65% -36.92% -52.62% -58.77% -80.02% -67.63% -93.12%
EPS Growth		 230.43% 79.01% 81.48% 37.98% -12.50% -38.62% -53.06% -58.99% -79.70% -67.42% -92.75%
Operating Cash Flow Growth		 -59.60% -45.77% 232.72% -210.44% 2,225.10% -273.61% -69.77% 354.98% -34.30% 516.93% 1,032.90%
Free Cash Flow Firm Growth		 12.45% -2.97% -44.69% -85.72% 19.00% 6.51% 0.24% 87.06% 88.25% 169.20% 221.18%
Invested Capital Growth		 21.72% 26.72% 23.22% 23.42% 14.79% 16.85% 16.28% 3.69% 1.83% -7.36% -14.68%
Revenue Q/Q Growth		 -8.56% 7.90% 18.10% 6.17% -15.39% -29.39% 1.69% -5.15% -16.52% -3.78% 5.20%
EBITDA Q/Q Growth		 6.11% 16.07% -3.95% 21.03% -26.21% -42.32% -11.58% 3.75% -47.58% 23.63% -40.43%
EBIT Q/Q Growth		 6.54% 17.39% -4.30% 24.45% -30.12% -49.01% -16.34% 4.42% -61.32% 36.07% -73.21%
NOPAT Q/Q Growth		 6.00% 19.51% -4.76% 22.80% -31.38% -44.59% -25.03% -0.42% -61.14% 28.73% -86.44%
Net Income Q/Q Growth		 17.06% -4.36% 1.95% 20.51% -24.81% -31.72% -23.42% 4.87% -63.56% 10.61% -83.72%
EPS Q/Q Growth		 17.83% -4.61% 1.38% 21.09% -25.28% -33.08% -22.47% 5.80% -63.01% 7.41% -82.76%
Operating Cash Flow Q/Q Growth		 -86.53% 418.04% 32.99% -219.02% 383.56% -138.68% 123.16% 903.76% -26.94% 145.48% -37.07%
Free Cash Flow Firm Q/Q Growth		 -51.75% -23.18% 8.56% -5.66% 33.81% -42.18% -4.98% 86.30% 40.59% 909.61% 83.84%
Invested Capital Q/Q Growth		 5.89% 3.41% 3.32% 9.10% -1.52% 5.27% 2.82% -2.72% -3.29% -4.23% -5.30%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 15.61% 13.04% 12.65% 13.75% 13.37% 15.08% 15.04% 16.16% 14.18% 15.43% 14.20%
EBITDA Margin		 9.23% 9.93% 7.50% 8.55% 7.46% 6.09% 6.44% 7.05% 4.43% 5.69% 3.22%
Operating Margin		 7.92% 8.73% 6.50% 7.62% 6.19% 4.54% 4.82% 5.09% 2.46% 3.48% 0.88%
EBIT Margin		 8.02% 8.73% 6.50% 7.62% 6.29% 4.54% 4.82% 5.31% 2.46% 3.48% 0.89%
Profit (Net Income) Margin		 6.36% 5.64% 4.87% 5.52% 4.91% 4.75% 3.57% 3.95% 1.73% 1.98% 0.31%
Tax Burden Percent		 79.25% 79.60% 79.22% 78.17% 78.02% 83.40% 74.74% 74.41% 71.61% 67.75% 34.62%
Interest Burden Percent		 100.00% 81.11% 94.52% 92.76% 100.00% 125.27% 99.13% 100.00% 97.88% 84.11% 100.00%
Effective Tax Rate		 20.75% 20.40% 20.78% 21.83% 21.98% 16.60% 25.26% 25.59% 28.39% 32.25% 65.38%
Return on Invested Capital (ROIC)		 20.41% 23.70% 17.77% 19.95% 16.38% 11.62% 9.67% 8.51% 3.50% 4.38% 0.54%
ROIC Less NNEP Spread (ROIC-NNEP)		 21.44% 1.44% 13.23% 15.72% 17.25% 17.63% 9.49% 9.54% 3.07% -0.02% 0.60%
Return on Net Nonoperating Assets (RNNOA)		 1.55% 0.08% 0.87% 1.71% 1.36% 1.67% 0.94% 0.83% 0.12% 0.00% 0.01%
Return on Equity (ROE)		 21.96% 23.78% 18.63% 21.66% 17.75% 13.29% 10.61% 9.34% 3.61% 4.38% 0.55%
Cash Return on Invested Capital (CROIC)		 -3.66% -4.94% -0.44% -0.76% 5.55% 0.04% -1.63% 5.59% 4.69% 13.16% 19.61%
Operating Return on Assets (OROA)		 16.32% 17.53% 12.65% 14.52% 12.48% 8.69% 8.18% 7.56% 3.04% 4.38% 1.08%
Return on Assets (ROA)		 12.94% 11.32% 9.47% 10.53% 9.74% 9.08% 6.06% 5.63% 2.13% 2.49% 0.37%
Return on Common Equity (ROCE)		 21.96% 23.78% 18.63% 21.66% 17.75% 13.29% 10.61% 9.34% 3.61% 4.38% 0.55%
Return on Equity Simple (ROE_SIMPLE)		 15.31% 0.00% 18.24% 18.87% 17.63% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 17 21 18 22 15 8.41 8.14 8.10 3.15 4.05 0.55
NOPAT Margin		 6.27% 6.95% 5.15% 5.95% 4.83% 3.79% 3.61% 3.79% 1.76% 2.36% 0.30%
Net Nonoperating Expense Percent (NNEP)		 -1.04% 22.26% 4.54% 4.23% -0.87% -6.00% 0.19% -1.03% 0.43% 4.40% -0.06%
Return On Investment Capital (ROIC_SIMPLE)		 - 5.05% - - - 1.80% 1.69% 1.71% 0.68% 0.89% 0.12%
Cost of Revenue to Revenue		 84.39% 86.96% 87.35% 86.25% 86.63% 84.92% 84.96% 83.84% 85.82% 84.57% 85.80%
SG&A Expenses to Revenue		 7.04% 5.52% 6.16% 6.13% 7.10% 8.87% 10.31% 10.93% 11.89% 12.26% 13.24%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 7.70% 4.31% 6.15% 6.13% 7.18% 10.53% 10.22% 11.07% 11.72% 11.95% 13.32%
Earnings before Interest and Taxes (EBIT)		 22 26 23 28 20 10 11 11 4.40 5.98 1.60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 25 29 26 32 23 14 15 15 7.91 9.78 5.83
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.33 1.37 1.58 1.66 1.77 1.86 1.17 1.22 1.10 1.01 1.24
Price to Tangible Book Value (P/TBV)		 1.42 1.46 1.67 1.75 1.86 1.96 1.23 1.28 1.16 1.06 1.30
Price to Revenue (P/Rev)		 0.41 0.41 0.47 0.49 0.52 0.59 0.42 0.52 0.55 0.54 0.69
Price to Earnings (P/E)		 8.69 8.20 8.65 8.80 10.03 11.78 8.72 11.99 15.37 18.47 33.41
Dividend Yield		 1.86% 1.72% 1.46% 1.35% 1.23% 1.16% 1.85% 1.75% 1.95% 2.15% 1.78%
Earnings Yield		 11.51% 12.20% 11.56% 11.36% 9.97% 8.49% 11.47% 8.34% 6.51% 5.41% 2.99%
Enterprise Value to Invested Capital (EV/IC)		 1.30 1.34 1.54 1.59 1.72 1.78 1.15 1.21 1.10 1.01 1.26
Enterprise Value to Revenue (EV/Rev)		 0.44 0.44 0.49 0.52 0.54 0.63 0.46 0.55 0.56 0.52 0.65
Enterprise Value to EBITDA (EV/EBITDA)		 5.94 5.46 5.73 6.02 6.54 8.37 6.05 8.10 9.39 8.83 12.81
Enterprise Value to EBIT (EV/EBIT)		 7.08 6.37 6.59 6.87 7.51 9.84 7.24 10.38 13.17 12.87 21.36
Enterprise Value to NOPAT (EV/NOPAT)		 8.96 8.06 8.32 8.69 9.53 12.35 9.22 13.33 17.08 17.61 30.73
Enterprise Value to Operating Cash Flow (EV/OCF)		 28.53 46.33 22.46 106.72 20.46 46.73 49.31 10.98 12.32 4.19 3.85
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 33.18 5,299.21 0.00 21.97 23.67 7.39 5.91
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.18 0.17 0.15 0.18 0.16 0.16 0.18 0.13 0.11 0.08 0.06
Long-Term Debt to Equity		 0.18 0.17 0.15 0.18 0.16 0.16 0.18 0.13 0.11 0.07 0.05
Financial Leverage		 0.07 0.05 0.07 0.11 0.08 0.09 0.10 0.09 0.04 0.04 0.02
Leverage Ratio		 1.71 1.79 1.89 1.95 1.85 1.75 1.74 1.72 1.67 1.53 1.49
Compound Leverage Factor		 1.71 1.45 1.79 1.81 1.85 2.20 1.72 1.72 1.63 1.29 1.49
Debt to Total Capital		 15.29% 14.71% 13.18% 15.56% 14.12% 13.95% 15.58% 11.61% 9.66% 7.34% 5.27%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.49% 0.49%
Long-Term Debt to Total Capital		 15.29% 14.71% 13.18% 15.56% 14.12% 13.95% 15.58% 11.61% 9.66% 6.84% 4.77%
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% 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% 0.00%
Common Equity to Total Capital		 84.71% 85.29% 86.82% 84.44% 85.88% 86.05% 84.42% 88.39% 90.34% 92.66% 94.73%
Debt to EBITDA		 0.75 0.65 0.53 0.62 0.59 0.69 0.87 0.84 0.90 0.71 0.61
Net Debt to EBITDA		 0.41 0.32 0.27 0.41 0.22 0.43 0.55 0.35 0.13 -0.24 -0.78
Long-Term Debt to EBITDA		 0.75 0.65 0.53 0.62 0.59 0.69 0.87 0.84 0.90 0.66 0.55
Debt to NOPAT		 1.13 0.95 0.76 0.90 0.86 1.02 1.32 1.38 1.64 1.42 1.46
Net Debt to NOPAT		 0.63 0.48 0.39 0.59 0.32 0.64 0.84 0.58 0.24 -0.48 -1.87
Long-Term Debt to NOPAT		 1.13 0.95 0.76 0.90 0.86 1.02 1.32 1.38 1.64 1.32 1.32
Altman Z-Score		 3.98 3.82 3.81 3.83 3.99 4.75 4.27 4.38 4.21 4.14 4.35
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.38 2.17 2.03 2.08 2.12 2.68 3.23 3.32 3.46 3.22 2.98
Quick Ratio		 1.42 1.35 1.33 1.41 1.43 1.71 2.06 2.07 2.00 1.78 1.66
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -48 -59 -56 -59 -39 -55 -55 -7.60 -4.52 37 67
Operating Cash Flow to CapEx		 39.07% 338.69% 192.52% -349.84% 481.58% -911.98% 52.93% 1,625.42% 3,842.47% 1,007.84% 389.94%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -44.65 -28.68 0.00 0.00 -583.79 0.00 -48.55 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 7.21 -5.22 0.00 0.00 28.57 0.00 214.02 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 3.47 -6.71 0.00 0.00 -25.41 0.00 208.45 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.03 2.01 1.95 1.91 1.98 1.91 1.70 1.42 1.24 1.26 1.22
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 5.89 5.83 6.05 6.29 6.30 5.78 5.57 4.72 3.84 3.62 3.75
Fixed Asset Turnover		 9.47 10.15 10.75 11.15 11.35 10.89 9.70 8.42 7.24 6.59 6.08
Accounts Payable Turnover		 7.43 6.31 5.30 5.16 6.07 6.44 5.68 4.88 4.51 5.97 6.36
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 61.99 62.59 60.31 58.05 57.89 63.14 65.51 77.39 94.98 100.91 97.22
Days Payable Outstanding (DPO)		 49.14 57.82 68.92 70.69 60.16 56.70 64.27 74.85 81.01 61.14 57.43
Cash Conversion Cycle (CCC)		 12.84 4.77 -8.61 -12.64 -2.26 6.44 1.24 2.54 13.98 39.78 39.79
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 366 378 391 426 420 442 454 442 427 409 387
Invested Capital Turnover		 3.25 3.41 3.45 3.35 3.39 3.07 2.68 2.25 1.98 1.86 1.77
Increase / (Decrease) in Invested Capital		 65 80 74 81 54 64 64 16 7.66 -33 -67
Enterprise Value (EV)		 475 508 600 677 723 788 523 533 470 414 488
Market Capitalization		 442 478 572 631 699 748 475 509 463 425 518
Book Value per Share		 $29.04 $30.40 $31.66 $33.12 $34.50 $35.06 $35.54 $36.53 $36.71 $36.79 $36.69
Tangible Book Value per Share		 $27.24 $28.65 $29.91 $31.38 $32.76 $33.31 $33.79 $34.78 $34.97 $35.03 $34.91
Total Capital		 392 408 417 450 460 466 482 474 466 454 440
Total Debt		 60 60 55 70 65 65 75 55 45 33 23
Total Long-Term Debt		 60 60 55 70 65 65 75 55 45 31 21
Net Debt		 33 30 28 46 24 41 48 23 6.60 -11 -30
Capital Expenditures (CapEx)		 3.34 1.99 4.66 3.05 6.29 1.29 5.13 1.68 0.52 4.85 7.89
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 234 246 257 293 284 308 318 307 295 261 235
Debt-free Net Working Capital (DFNWC)		 261 276 284 317 325 332 346 339 334 305 288
Net Working Capital (NWC)		 261 276 284 317 325 332 346 339 334 303 286
Net Nonoperating Expense (NNE)		 -0.23 3.89 0.99 1.60 -0.25 -2.12 0.07 -0.36 0.07 0.64 -0.01
Net Nonoperating Obligations (NNO)		 33 30 28 46 24 41 48 23 6.60 -11 -30
Total Depreciation and Amortization (D&A)		 3.32 3.56 3.51 3.47 3.66 3.44 3.66 3.72 3.51 3.80 4.22
Debt-free, Cash-free Net Working Capital to Revenue		 21.58% 21.32% 21.08% 22.71% 21.33% 24.46% 28.09% 31.48% 35.14% 32.97% 31.49%
Debt-free Net Working Capital to Revenue		 24.06% 23.91% 23.28% 24.55% 24.38% 26.39% 30.51% 34.75% 39.71% 38.63% 38.60%
Net Working Capital to Revenue		 24.06% 23.91% 23.28% 24.55% 24.38% 26.39% 30.51% 34.75% 39.71% 38.34% 38.31%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.53 $1.46 $1.49 $1.79 $1.35 $0.92 $0.70 $0.74 $0.27 $0.30 $0.05
Adjusted Weighted Average Basic Shares Outstanding		 11.45M 11.44M 11.45M 11.46M 11.45M 11.45M 11.45M 11.46M 11.45M 11.45M 11.39M
Adjusted Diluted Earnings per Share		 $1.52 $1.45 $1.47 $1.78 $1.33 $0.89 $0.69 $0.73 $0.27 $0.29 $0.05
Adjusted Weighted Average Diluted Shares Outstanding		 11.52M 11.51M 11.56M 11.55M 11.60M 11.60M 11.61M 11.60M 11.59M 11.61M 11.53M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 11.45M 11.45M 11.47M 11.45M 11.44M 11.44M 11.46M 11.46M 11.43M 11.37M 11.40M
Normalized Net Operating Profit after Tax (NOPAT)		 17 21 18 22 15 8.41 8.14 8.10 3.15 4.05 1.11
Normalized NOPAT Margin		 6.27% 6.95% 5.15% 5.95% 4.83% 3.79% 3.61% 3.79% 1.76% 2.36% 0.61%
Pre Tax Income Margin		 8.02% 7.08% 6.14% 7.07% 6.29% 5.69% 4.78% 5.31% 2.41% 2.93% 0.89%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 18.26 13.81 0.00 0.00 114.59 0.00 47.28 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 14.47 10.80 0.00 0.00 85.64 0.00 33.86 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 14.51 12.32 0.00 0.00 60.61 0.00 41.71 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 10.72 9.31 0.00 0.00 31.66 0.00 28.29 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 16.18% 14.15% 12.66% 11.86% 12.37% 13.74% 16.19% 21.02% 30.00% 39.78% 59.69%
Augmented Payout Ratio		 16.18% 14.15% 12.66% 11.86% 12.37% 18.30% 25.36% 29.15% 42.48% 65.79% 98.78%

Financials Breakdown Chart

Key Financial Trends

Miller Industries (NYSE: MLR) showed a sharp rebound in Q1 2026 profitability and cash generation after a weaker Q4 2025, but the longer-term picture still shows volatility in revenue, working capital, and debt levels.

  • Q1 2026 operating cash flow was strong at $30.7 million, up sharply from $48.9 million in Q4 2025 but still a very healthy quarter and well above net income, indicating solid cash conversion.
  • Cash and equivalents rose to $53.0 million in Q1 2026 from $38.4 million in Q3 2025, improving liquidity.
  • Revenue improved sequentially to $180.9 million in Q1 2026 from $171.9 million in Q4 2025, showing modest top-line recovery.
  • Net income rebounded to $555,000 in Q1 2026 after Q4 2025 net income of $3.4 million, but the bigger story is the return to profitability after a weaker quarter at the start of 2026.
  • Gross margin held up reasonably well in Q1 2026, with gross profit of $25.7 million on $180.9 million of revenue, despite higher cost of revenue.
  • Book equity remained solid at $417.3 million and equity still far exceeded total liabilities, giving the balance sheet some cushion.
  • MLR continues to rely heavily on working capital swings; changes in operating assets and liabilities added $25.9 million to Q1 2026 operating cash flow, so cash generation can be lumpy quarter to quarter.
  • Depreciation remains material at $4.2 million in Q1 2026, reflecting ongoing capital intensity in the business.
  • Dividends continue at $0.21 per share in Q1 2026, which is shareholder-friendly but also uses cash.
  • Share count stayed relatively stable, with diluted shares at 11.5 million in Q1 2026 versus 11.6 million in Q4 2025.
  • Revenue is still below year-ago levels; Q1 2026 revenue of $180.9 million was well under Q1 2025 revenue of $225.7 million.
  • Profitability weakened versus last year, with Q1 2026 net income of $0.6 million versus $8.1 million in Q1 2025 and $17.0 million in Q1 2024.
  • Long-term debt remains meaningful at $21.0 million in Q1 2026, and the company also had $2.2 million of short-term debt.
  • Liabilities rose to $168.3 million from $183.7 million in Q3 2025, but current liabilities still remain elevated relative to cash and near-term earnings power.
  • Working capital pressure is still evident in the receivables and inventory base, with $186.6 million of note and lease receivables and $172.5 million of inventory tied up on the balance sheet.
  • Q4 2025 was notably weaker on the income statement than recent history, with revenue of $171.9 million and operating income of just $6.0 million, highlighting earnings volatility.

Bottom line: Miller Industries looks financially stable enough in the near term, with decent cash, positive operating cash flow, and an improving Q1 2026 quarter. However, investors should watch for continued swings in revenue and margins, since earnings have cooled materially from the stronger quarters seen in 2024 and early 2025.

07/05/26 09:20 PM ETAI Generated. May Contain Errors.

Miller Industries Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Miller Industries' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Miller Industries' net income appears to be on an upward trend, with a most recent value of $23.01 million in 2025, rising from $15.98 million in 2015. The previous period was $63.49 million in 2024. See Miller Industries' forecast for analyst expectations on what's next for the company.

Miller Industries' total operating income in 2025 was $32.15 million, based on the following breakdown:
  • Total Gross Profit: $120.39 million
  • Total Operating Expenses: $88.24 million

Over the last 10 years, Miller Industries' total revenue changed from $540.97 million in 2015 to $790.27 million in 2025, a change of 46.1%.

Miller Industries' total liabilities were at $169.10 million at the end of 2025, a 36.4% decrease from 2024, and a 78.9% increase since 2015.

In the past 10 years, Miller Industries' cash and equivalents has ranged from $21.90 million in 2017 to $57.52 million in 2020, and is currently $44.68 million as of their latest financial filing in 2025.

Over the last 10 years, Miller Industries' book value per share changed from 15.33 in 2015 to 36.79 in 2025, a change of 140.0%.


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Financial statements for NYSE:MLR last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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