Miller Industries, Inc. (MLR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.38	$0.63	+65.8%	—	$240M	—
Q1 26	$0.22	$0.05	-77.3%	—	$180.9M	—
Q3 25	$0.02	$0.27	+1250.0%	—	$178.7M	—
Q2 25	$0.55	$0.73	+32.7%	—	$214M	—
Q1 25	$0.6	$0.69	+15.0%	—	$225.7M	—
Q4 24	$1.09	$0.91	-16.5%	—	$221.9M	—
Q3 24	$1.33	$1.33	0.0%	—	$314.3M	—
Q1 23	—	$0.81	—	—	$282.3M	—
Q4 22	—	$0.81	—	—	$225.9M	—
Q3 22	—	$0.46	—	—	$205.6M	—
Q2 22	—	$0.33	—	—	$201.5M	—
Q1 22	—	$0.18	—	—	$215.5M	—
Q4 21	—	$0.24	—	—	$201.7M	—
Q3 21	—	$0.34	—	—	$164.7M	—
Q2 21	—	$0.57	—	—	$181.2M	—
Q1 21	—	$0.28	—	—	$169.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.01	—	—	$790.3M	—
FY24	—	$5.55	—	—	$1.3B	—
FY23	—	$5.1	—	—	$1.2B	—
FY22	—	$1.78	—	—	$848.5M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$601.1M	$615.1M	$711.7M	$818.2M	$651.3M	$717.5M	$848.5M	$1.2B	$1.3B	$790.3M
YoY change	+11.1%	+2.33%	+15.7%	+15%	-20.4%	+10.2%	+18.3%	+35.9%	+9.03%	-37.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	601.1M	615.1M	711.7M	818.2M	651.3M	717.5M	848.5M	1.2B	1.3B	790.3M
Cost of revenue	536.8M	548M	628.4M	721.7M	572.9M	647.6M	766M	1B	1.1B	669.9M
Gross profit	64.3M	67.1M	83.3M	96.5M	78.4M	69.9M	82.4M	151.9M	170.8M	120.4M
Gross margin	10.7%	10.9%	11.7%	11.8%	12%	9.74%	9.71%	13.2%	13.6%	15.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	32.3M	35.6M	39.5M	43.4M	39.7M	46.2M	52.8M	73.1M	86.3M	89M
Operating expenses	32M	35.2M	39.5M	43.4M	39.7M	46.2M	52.8M	73.1M	86.3M	89M
Operating income	32M	31.5M	43.8M	53.1M	38.6M	23.6M	29.6M	78.8M	84.5M	31.4M
Operating margin	5.32%	5.13%	6.15%	6.49%	5.93%	3.29%	3.49%	6.83%	6.72%	3.97%
Non-operating income, net	277K	387K	-253K	-331K	668K	-498K	-481K	991K	-425K	745K
Pretax income	31.1M	30.3M	41.7M	50.4M	38.1M	21.8M	25.7M	73.8M	80.1M	31.5M
Income tax	11.2M	7.3M	7.9M	11.3M	8.3M	5.5M	5.4M	15.5M	16.6M	8.5M
Net income	19.9M	23M	33.7M	39.1M	29.8M	16.3M	20.3M	58.3M	63.5M	23M
Net margin	3.31%	3.74%	4.74%	4.78%	4.58%	2.27%	2.4%	5.05%	5.05%	2.91%
EBITDA	37.1M	38.1M	51.3M	61.9M	48.9M	34.2M	40.9M	93M	98.1M	46.8M
EPS	1.76	2.02	2.96	3.43	2.62	1.42	1.78	5.1	5.55	2.01
Diluted EPS	1.75	2.02	2.96	3.43	2.62	1.42	1.78	5.07	5.47	1.98

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	274.6M	296.2M	349.9M	371.5M	314.3M	221.9M	225.7M	214M	178.7M	171.9M	180.9M	240M
Cost of revenue	231.7M	257.6M	305.6M	320.4M	272.2M	188.4M	191.7M	179.4M	153.3M	145.4M	155.2M	204.1M
Gross profit	42.9M	38.6M	44.2M	51.1M	42M	33.5M	33.9M	34.6M	25.3M	26.5M	25.7M	35.9M
Gross margin	15.6%	13%	12.6%	13.8%	13.4%	15.1%	15%	16.2%	14.2%	15.4%	14.2%	15%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	19.3M	16.4M	21.5M	22.8M	22.3M	19.7M	23.3M	23.4M	21.2M	21.1M	23.9M	25.2M
Operating expenses	19.3M	16.4M	21.5M	22.8M	22.3M	19.7M	23.3M	23.4M	21.2M	21.1M	23.9M	25.2M
Operating income	23.6M	22.3M	22.7M	28.3M	19.7M	13.8M	10.7M	11.2M	4.1M	5.5M	1.7M	10.8M
Operating margin	8.58%	7.52%	6.49%	7.62%	6.27%	6.21%	4.73%	5.22%	2.29%	3.18%	0.96%	4.48%
Non-operating income, net	294K	149K	33K	-13K	321K	-766K	202K	479K	312K	-249K	15K	-338K
Pretax income	22M	21M	21.5M	26.2M	19.8M	12.6M	10.8M	11.4M	4.3M	5M	1.6M	10.1M
Income tax	4.6M	4.3M	4.5M	5.7M	4.3M	2.1M	2.7M	2.9M	1.2M	1.6M	1M	2.8M
Net income	17.5M	16.7M	17M	20.5M	15.4M	10.5M	8.1M	8.5M	3.1M	3.4M	555K	7.3M
Net margin	6.36%	5.64%	4.87%	5.52%	4.91%	4.75%	3.57%	3.95%	1.72%	1.98%	0.31%	3.03%
EBITDA	27.2M	26M	26.2M	31.8M	23.7M	16.4M	14.5M	15.4M	7.9M	9M	6M	14.4M
EPS	1.53	—	1.49	1.79	1.35	0.92	0.7	0.74	0.27	0.3	0.05	0.64
Diluted EPS	1.52	—	1.47	1.78	1.33	0.91	0.69	0.73	0.27	0.29	0.05	0.63

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	300.1M	293.3M	307.5M	423.3M	433.6M	381.1M	304.4M	483.8M	748.4M	427.8M	613.4M
Enterprise value	274M	282M	296.3M	404.3M	377.6M	328M	310.1M	514.7M	789.6M	416.7M	563.6M
Shares outstanding	11.3M	11.4M	11.4M	11.4M	11.4M	11.4M	11.4M	11.4M	11.4M	11.4M	11.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	15.1	12.7	9.11	10.8	14.5	23.4	15	8.3	11.8	18.6	43.5
P/S	0.5	0.48	0.43	0.52	0.67	0.53	0.36	0.42	0.6	0.54	0.79
P/B	1.63	1.44	1.35	1.64	1.54	1.34	1.04	1.39	1.87	1.02	1.46
EV/EBITDA	7.39	7.41	5.78	6.53	7.72	9.6	7.59	5.53	8.05	8.9	15
EV/Sales	0.46	0.46	0.42	0.49	0.58	0.46	0.37	0.45	0.63	0.53	0.73
Earnings yield	6.64%	7.85%	11%	9.24%	6.88%	4.26%	6.68%	12%	8.48%	5.38%	2.3%
FCF yield	-1.37%	-3.66%	2.78%	4.19%	9.96%	1.61%	-15.8%	-0.23%	0.2%	19.9%	16.7%
PEG	—	—	—	—	—	—	—	—	—	—	-3.22

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	10.7%	10.9%	11.7%	11.8%	12%	9.74%	9.71%	13.2%	13.6%	15.2%	15%
Operating margin	5.32%	5.13%	6.15%	6.49%	5.93%	3.29%	3.49%	6.83%	6.72%	3.97%	4.48%
Net margin	3.31%	3.74%	4.74%	4.78%	4.58%	2.27%	2.4%	5.05%	5.05%	2.91%	1.86%
ROE	10.8%	11.3%	14.8%	15.2%	10.6%	5.71%	6.93%	16.8%	15.8%	5.47%	3.41%
ROA	6.7%	7.26%	9.17%	9.98%	7.49%	3.71%	4.06%	9.01%	9.52%	3.9%	2.24%
ROIC	12.9%	12.5%	16.4%	17.3%	13.4%	7.62%	7.82%	16.4%	15.1%	5.61%	4.06%
Return on tangible assets	7.27%	7.83%	9.78%	10.6%	7.95%	3.92%	4.25%	9.6%	10.1%	4.19%	2.52%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.13	2.24	2.21	2.31	2.59	2.24	2.41	2.17	2.68	3.22	2.46
Quick ratio	1.53	1.56	1.45	1.61	1.83	1.46	1.42	1.37	1.74	1.87	1.61
Debt / equity	0.03	0.05	0.07	0.03	0.01	0	0.16	0.17	0.16	0.08	0.01
Debt / assets	0.02	0.03	0.04	0.02	0	0	0.09	0.09	0.1	0.06	0.01
Net debt / EBITDA	-0.7	-0.3	-0.22	-0.31	-1.15	-1.55	0.14	0.33	0.42	-0.24	-1.34
Interest coverage	27.8	20.1	23.2	22.2	32.4	17.1	8.62	13.4	21.4	48.7	28.4
Effective tax rate	35.9%	24.1%	19%	22.4%	21.7%	25.3%	20.9%	21%	20.8%	26.9%	31.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	53	54.1	62.5	71.8	57.1	62.9	74.3	100.8	109.8	69	67.6
EPS (basic)	1.76	2.02	2.96	3.43	2.62	1.42	1.78	5.1	5.55	2.01	2.01
EPS (diluted)	1.75	2.02	2.96	3.43	2.62	1.42	1.78	5.07	5.47	1.98	1.24
Book value per share	16.3	17.9	20	22.6	24.8	24.9	25.7	30.4	35	36.7	37
FCF per share	-0.36	-0.94	0.75	1.56	3.79	0.54	-4.21	-0.1	0.13	7.43	9.78
Cash per share	2.74	1.93	2.37	2.29	5.04	4.76	3.52	2.61	2.13	3.9	4.9
Capex per share	2.21	2.06	1.16	1.5	1.51	0.79	2.53	1.02	1.34	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.16%	3.8%	1.85%	2.09%	2.64%	1.26%	3.41%	1.01%	1.22%	—	—
Capex / operating cash flow	101.2%	176%	70.6%	48.8%	27.4%	51%	-109.3%	-2.4K%	182.3%	—	—
Payout ratio	38.7%	35.6%	24.3%	21%	27.5%	50.5%	40.4%	14.2%	13.7%	39.8%	66.1%
Dividend yield	2.57%	2.79%	2.67%	1.94%	1.89%	2.16%	2.7%	1.71%	1.17%	2.14%	1.55%

Yield

1.55%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.21

ex-dividend Sep 8, 2026

Payout ratio

66%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 8, 2026	$0.21
Jun 1, 2026	$0.21
Mar 16, 2026	$0.21

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$274.6M	$296.2M	$349.9M	$371.5M	$314.3M	$221.9M	$225.7M	$214M	$178.7M	$171.9M	$180.9M	$240M
YoY change	+33.6%	+31.2%	+23.9%	+23.7%	+14.5%	-25.1%	-35.5%	-42.4%	-43.1%	-22.5%	-19.8%	+12.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	31.1M	21.9M	27M	26.1M	57.5M	54.3M	40.2M	29.9M	24.3M	44.7M
Receivables	125.4M	132.7M	149.1M	168.6M	141.6M	154M	177.7M	286.1M	313.4M	198.3M
Inventory	64.1M	68.6M	93.8M	88M	83.9M	114.9M	153.7M	189.8M	186.2M	184.2M
Total current assets	225.6M	227.4M	273.2M	287.5M	286.3M	329M	376M	510.5M	529.8M	439.6M
Property, plant & equipment	1.9M	10.8M	14.1M	19.3M	16.8M	18.4M	29.8M	29.6M	30.5M	28.9M
Goodwill & intangibles	23.2M	23.2M	23.2M	23.2M	23.2M	23.2M	23.2M	40M	40M	40.1M
Total assets	297.4M	317.2M	368.2M	392M	398.4M	437.6M	501.4M	647.2M	667M	589.7M
Accounts payable	85.1M	79.3M	98.2M	95.8M	85.5M	121.7M	125.5M	191.8M	145.9M	78.5M
Short-term debt	—	394K	305K	719K	375K	376K	311K	320K	318K	2.4M
Total current liabilities	105.8M	101.7M	123.4M	124.3M	110.7M	147M	156.1M	234.7M	197.9M	136.6M
Long-term debt	5M	10.2M	15.5M	6.3M	1.1M	870K	45.6M	60.5M	65.2M	31.2M
Total liabilities	112.8M	114.1M	140.6M	134M	116M	153M	208M	299.3M	266M	169.1M
Shareholders' equity	184.6M	203.1M	227.6M	257.9M	282.5M	284.6M	293.5M	347.9M	401M	420.6M
Total debt	5M	10.6M	15.8M	7.1M	1.5M	1.2M	45.9M	60.8M	65.5M	33.6M
Net debt	-26.1M	-11.3M	-11.2M	-19M	-56M	-53.1M	5.8M	30.9M	41.2M	-11.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	38.4M	44.7M	53M	55.6M
Receivables	—	—	—	—	—	—	—	—	232.6M	198.3M	186.6M	225M
Inventory	—	—	—	—	—	—	—	—	180.7M	184.2M	172.5M	157.3M
Total current assets	—	—	—	—	—	—	—	—	469.5M	439.6M	430.1M	453.7M
Property, plant & equipment	—	—	—	—	—	—	—	—	22.2M	28.9M	27.9M	26.2M
Goodwill & intangibles	—	—	—	—	—	—	—	—	40M	40.1M	40.5M	40.5M
Total assets	—	—	—	—	—	—	—	—	604.3M	589.7M	585.6M	609.1M
Accounts payable	—	—	—	—	—	—	—	—	82.2M	78.5M	85.8M	127.4M
Short-term debt	—	—	—	—	—	—	—	—	242K	2.4M	2.5M	2.9M
Total current liabilities	—	—	—	—	—	—	—	—	135.8M	136.6M	144.5M	184.5M
Long-term debt	—	—	—	—	—	—	—	—	45.1M	31.2M	22.5M	2.8M
Total liabilities	—	—	—	—	—	—	—	—	183.7M	169.1M	168.3M	189M
Shareholders' equity	—	—	—	—	—	—	—	—	420.7M	420.6M	417.3M	420.1M
Total debt	—	—	—	—	—	—	—	—	45.4M	33.6M	25M	5.7M
Net debt	—	—	—	—	—	—	—	—	7M	-11.1M	-28M	-49.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	19.9M	23M	33.7M	39.1M	29.8M	16.3M	20.3M	58.3M	63.5M	23M
Depreciation & amortization	4.8M	6.1M	7.7M	9.1M	9.6M	11M	11.8M	13.2M	14.1M	14.7M
Stock-based compensation	96K	150K	150K	—	0	0	743K	1.1M	3.2M	5.3M
Change in working capital	-3.4M	-15.3M	-23.7M	-15.1M	22.6M	-10.7M	-60.6M	-71M	-71M	67.5M
Operating cash flow	24.7M	13.3M	18.7M	35M	63M	17.8M	-26.5M	-486K	8.4M	98.7M
Capital expenditure	-25M	-23.4M	-13.2M	-17.1M	-17.2M	-9.1M	-28.9M	-11.7M	-15.3M	—
Investing cash flow	-25M	-23.4M	-13.2M	-17.1M	-17.2M	-9.1M	-28.9M	-29.1M	-15.3M	-18.6M
Dividends paid	-7.7M	-8.2M	-8.2M	-8.2M	-8.2M	-8.2M	-8.2M	-8.2M	-8.7M	-9.2M
Share repurchases	—	—	—	—	—	—	—	—	-2.9M	-6M
Financing cash flow	2.3M	2M	1.9M	-28.6M	-18.6M	-8.2M	36.8M	6.8M	-6.6M	-50.7M
Net change in cash	2M	-8.1M	7.3M	-10.7M	27.1M	467K	-18.6M	-22.8M	-13.5M	29.4M
Free cash flow	-4.1M	-10.7M	8.6M	17.7M	43.2M	6.1M	-48.1M	-1.1M	1.5M	85M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	17.5M	16.7M	17M	20.5M	15.4M	10.5M	8.1M	8.5M	3.1M	3.4M	555K	7.3M
Depreciation & amortization	3.3M	3.6M	3.5M	3.5M	3.7M	3.4M	3.7M	3.7M	3.5M	3.8M	4.2M	4M
Stock-based compensation	569K	259K	383K	1.3M	572K	969K	1.9M	1.2M	1.1M	1.1M	-43K	1.4M
Change in working capital	-26.6M	-13.4M	-10.3M	-41.8M	7.3M	-26.3M	9.8M	9.8M	9.4M	40.4M	29.1M	16.8M
Operating cash flow	-5.4M	5M	10.5M	-16.5M	26.9M	-12.5M	23.2M	27.2M	19.9M	48.9M	30.7M	32.2M
Capital expenditure	-3.3M	-2M	-4.7M	-3.1M	-6.3M	-1.3M	-5.1M	—	—	—	—	—
Investing cash flow	-3.3M	-1.6M	-4.7M	-3.1M	-6.3M	-1.3M	-5.1M	—	0	-18.6M	—	—
Dividends paid	-2.1M	-2.1M	-2.2M	-2.2M	-2.2M	-2.2M	-2.3M	-2.3M	-2.3M	-2.3M	-2.4M	-2.4M
Share repurchases	0	—	—	-2M	-851K	0	-2.1M	-500K	-1.2M	-2.2M	-2.2M	-2.5M
Financing cash flow	-2.1M	-2.1M	-7.2M	-4.2M	-8M	-2.2M	-4.4M	-2.8M	-13.4M	-20.1M	-4.6M	-4.9M
Net change in cash	-10.8M	1.4M	-1.4M	-23.8M	12.6M	-16M	13.7M	24.4M	6.5M	10.1M	26.2M	27.4M
Free cash flow	-1.8M	4.4M	4.3M	-13.8M	24M	-13M	-2.4M	25.6M	18.1M	43.8M	22.8M	28M

Date	Ratio
Oct 1, 2001	1:5
Dec 31, 1996	3:2
Oct 1, 1996	2:1
Apr 15, 1996	3:2

Miller Industries, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history