Miller Industries (MLR) Financials

$40.72 +0.07 (+0.17%)

Closing price 03:59 PM Eastern

Extended Trading

$40.75 +0.03 (+0.07%)

As of 04:05 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	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	20	58	63
Consolidated Net Income / (Loss)	20	58	63
Net Income / (Loss) Continuing Operations	20	58	63
Total Pre-Tax Income	26	74	80
Total Operating Income	29	80	81
Total Gross Profit	82	152	171
Total Revenue	848	1,153	1,258
Operating Revenue	848	1,153	1,258
Total Cost of Revenue	766	1,002	1,087
Operating Cost of Revenue	766	1,002	1,087
Total Operating Expenses	53	72	90
Selling, General & Admin Expense	53	73	86
Other Operating Expenses / (Income)	0.48	-0.99	3.93
Total Other Income / (Expense), net	-3.38	-5.97	-0.43
Other Income / (Expense), net	-	-	-0.43
Income Tax Expense	5.39	15	17
Basic Earnings per Share	$1.78	$5.10	$5.55
Weighted Average Basic Shares Outstanding	11.42M	11.44M	11.45M
Diluted Earnings per Share	$1.78	$5.07	$5.47
Weighted Average Diluted Shares Outstanding	11.42M	11.51M	11.60M
Weighted Average Basic & Diluted Shares Outstanding	11.42M	11.45M	11.44M
Cash Dividends to Common per Share	$0.72	$0.72	$0.76

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

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

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

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

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

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

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

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

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

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.

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 4/15/2025 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

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Quarterly Cash Flow Statements for Miller Industries

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