Miller Industries Inc (MLR) stock analysis

P/E above its 5-year median

Miller Industries's P/E of 32.4 is above its own 5-year median of 14.6.

P/E above the industry

Miller Industries's P/E of 32.4 is above the Motor Vehicles and Motor Vehicle Equipment median of 18.7.

EV/EBITDA above its 5-year median

Miller Industries's EV/EBITDA of 12.3 is above its 5-year median of 7.6.

P/S above the industry

Miller Industries's price-to-sales of 0.69 is above the Motor Vehicles and Motor Vehicle Equipment median of 0.67 (book value is negative, so we use sales).

Trading above fair value

The share price of $48.90 is above our fair value estimate of $29.10.

Margin of safety under 20%

The price is 68.0% above fair value, so there is no margin of safety.

Revenue growing under 10% a year

Revenue grew -2.3% a year over the last three fiscal years, short of the 10% we look for.

EPS growing under 10% a year

Diluted EPS grew 3.6% a year over the last three fiscal years.

Earnings growth not accelerating

Net income grew -42.6% over the last twelve months, against a 5-year average of -5.1% a year.

Growing slower than the industry

Revenue grew -4.2% over the last twelve months; the Motor Vehicles and Motor Vehicle Equipment median is 5.5%.

Guidance unchanged

The latest outlook (full year 2026 revenue guidance, Aug 5, 2026) was maintained, so it neither adds nor takes away points.

Gross margin slipping

Gross margin was 14.6% over the last twelve months, against 15.2% a year earlier.

Return on equity

Needs positive equity and five years of results.

Return on invested capital

Needs operating income and invested capital.

Return on equity against the industry

Needs positive equity.

Earnings shrank over 5 years

Net income shrank 5.1% a year on average over the last five fiscal years.

Net margin below its 5-year average

Net margin was 2.2% over the last twelve months, against a 5-year average of 3.5%.

Net margin above the industry

Miller Industries's net margin of 2.2% is above the Motor Vehicles and Motor Vehicle Equipment median of 1.9%.

Debt level

Needs debt and equity figures.

Debt trend

Needs a balance sheet from five years ago with positive equity.

Debt covered by cash flow

Operating cash flow over the last twelve months equals 3883% of total debt.

Interest coverage

Interest expense is not reported separately.

Short-term assets cover short-term debts

Current assets are 2.50 times current liabilities.

Low bankruptcy risk

The Altman Z-score is 4.33; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

Miller Industries paid dividends worth 1.7% of the share price over the last twelve months.

Yield below Treasuries

The 1.7% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; Miller Industries yields 1.7%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 10 fiscal years.

Covered by earnings

Dividends take 54.7% of net income.

Covered by free cash flow

Dividends take 8.8% of free cash flow.