MLRNYSETruck & Bus BodiesFiscal year ends December 31
MILLER INDUSTRIES INC /TN/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$51.46−0.01 (-0.02%)
Close on Oct 19, 2026
- Market cap
- $592.90M
- P/E (TTM)
- 41.2
- Dividend yield
- 1.55%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
15.2%+3.2 pts over 5 years
Operating margin
–
Net margin
2.9%−1.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -37.2% | -2.3% | +3.9% | +3.9% | |
| Gross profit | -29.5% | +13.5% | +9.0% | +7.6% | |
| Net income | -63.8% | +4.2% | -5.1% | +3.7% | |
| EPS, diluted | -63.8% | +3.6% | -5.4% | +3.5% | |
| Free cash flow | +5500.3% | – | +14.5% | +26.2% | |
| Dividend per share | +5.3% | +3.6% | +2.1% | +2.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.1% | – | – | |
| Return on assets | 7.0% | 7.5% | 3.7% | |
| Current ratio | 2.13 | 2.59 | 3.22 | |
| Interest coverage | 27.5× | – | – | |
| Inventory turnover | 8.2× | 6.7× | 3.6× | |
| Capex to revenue | 4.2% | 2.7% | 1.7% | |
| Diluted shares | 11M | 11M | 12M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Miller Industries generated $160.98M from operations and spent $130.69M on capital expenditure, dividends and share buybacks. 61% of that went back into the business.
Generated
$160.98M
Used
$130.69M
Capital expenditure$79.25M61%Dividends$42.56M33%Share buybacks$8.88M7%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.7%
×Asset turnover2.08×
×Equity multiplier1.59×
=Return on equity, FY201815.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2018 | 4.7% | 2.08× | 1.59× | 15.7% |
| FY2017 | 3.7% | 2.00× | 1.59× | 11.9% |
| FY2016 | 3.3% | 2.12× | 1.58× | 11.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$23.01M
- Cash generatingOperating cash flow above zero$98.72M
- Return on assets improvedROA up on the prior year9.8% → 3.5%
- Earnings backed by cashOperating cash flow above net income$98.72M vs $23.01M
- Less leverageLong-term debt to assets fell9.7% → 5.3%
- Better liquidityCurrent ratio rose2.68 → 3.22
- No dilutionShare count did not rise12M → 12M
- Gross margin improvedGross margin up on the prior year13.58% → 15.23%
- More efficientAsset turnover rose1.94 → 1.18