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General information

Country: UNITED STATES

Sector: Auto Parts

Miller Industries, Inc., together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms that are used to transport new or disabled vehicles and other equipment. It also provides transport trailers for moving various vehicles for auto auctions, car dealerships, leasing companies, and other related applications. The company markets its products under the Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige, and Boniface brands. It sells its products through independent distributors in the United States, Canada, Mexico, Europe, the Pacific Rim, the Middle East, South America, and Africa; and through prime contractors to governmental entities. The company was founded in 1990 and is based in Ooltewah, Tennessee.
Website: millerind.com



Growth: Good revenue growth rate 33.5%, there is acceleration compared to average historical growth rates 18.7%. The revenue growth dynamics is moderately stable

Profitability: LTM EBITDA margin is positive, +94.7%. On average the margin is improving unsteadily. Gross margin is low, +15.6%.

Cash Flow Generation: Dividend yield for the last twelve months 1.5%. Free cash flow yield 0.0% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 130.5% higher than minimum and 7.6% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 7.3x by EV / Sales multiple , the company can be >100% undervalued

Key Financials (Download financials)

Ticker: MLR
Share price, USD:  (+0.2%)49.08
year average price 40.29  


year start price 33.99 2023-05-01

min close price 32.83 2023-06-01

max close price 53.13 2024-04-09

current price 49.08 2024-04-29
Common stocks: 11 446 000

Dividend Yield:  1.5%
EV / LTM EBITDA: 0.5x
EV / EBITDA annualized: 0.5x
Last revenue growth (y/y):  33.5%
Last growth of EBITDA (y/y):  33.5%
Historical revenue growth:  18.7%
Historical growth of EBITDA:  59.6%
EV / Sales: 0.5x
Margin (EBITDA LTM / Revenue): 94.7%
Fundamental value created in LTM:
Market Cap ($m): 562
Net Debt ($m): -26
EV (Enterprise Value): 536
Price to Book: 1.6x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2024-04-01InvestorPlace

Under the Radar: 3 Little-Known Stocks That Are Beating the Market in 2024

2024-01-23Seeking Alpha

Miller Industries: Remains Underfollowed And Undervalued

2023-11-14PRNewsWire

Miller Industries to Host 1x1 Meetings with Investors at the Southwest IDEAS Investor Conference

2023-10-09Seeking Alpha

Miller Industries: Elevated Working Capital Needs Suggest More Share-Price Consolidation

2023-08-10Seeking Alpha

Miller Industries, Inc. (MLR) Q2 2023 Earnings Call Transcript

2023-07-22Seeking Alpha

Miller Industries: The Market Is Missing This Operating Leverage Story

2023-04-26Seeking Alpha

Miller Industries Looks Poised For An Upward Movement
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol MLR MLR MLR MLR MLR MLR
reportedCurrency USD USD USD USD USD USD
cik 924 822 924 822 924 822 924 822 924 822 924 822
fillingDate 2024-03-06 2023-11-08 2023-08-09 2023-05-03 2023-03-08 2022-11-09
acceptedDate 2024-03-06 16:55:34 2023-11-08 16:01:30 2023-08-09 13:59:16 2023-05-03 16:59:37 2023-03-08 17:28:47 2022-11-09 16:34:04
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 296M 275M 300M 282M 226M 206M
costOfRevenue 258M 232M 260M 252M 200M 182M
grossProfit 39M 43M 40M 30M 26M 23M
grossProfitRatio 0.130 0.156 0.133 0.108 0.113 0.113
researchAndDevelopmentExpenses 6M 0 0 0 0 0
generalAndAdministrativeExpenses 1M 0 0 0 0 0
sellingAndMarketingExpenses 15M 0 0 0 0 0
sellingGeneralAndAdministrativeExpenses 16M 19M 19M 18M 13M 15M
otherExpenses 149 000 294 000 229 000 318 000 512 000 0
operatingExpenses 16M 19M 19M 18M 13M 15M
costAndExpenses 274M 251M 280M 270M 213M 197M
interestIncome 0 0 2M 0 0 0
interestExpense 1M 2M 2M 1M 1M 1M
depreciationAndAmortization 4M 3M 3M 3M 3M 3M
ebitda 26M 27M 24M 13M 13M 11M
ebitdaratio 0.087 0.099 0.080 0.045 0.057 0.053
operatingIncome 22M 24M 20M 10M 10M 8M
operatingIncomeRatio 0.075 0.086 0.068 0.034 0.043 0.038
totalOtherIncomeExpensesNet -1M 294 000 229 000 2M 2M -1M
incomeBeforeTax 21M 22M 19M 12M 12M 7M
incomeBeforeTaxRatio 0.071 0.080 0.063 0.042 0.051 0.033
incomeTaxExpense 4M 5M 4M 3M 2M 2M
netIncome 17M 17M 15M 9M 9M 5M
netIncomeRatio 0.056 0.064 0.050 0.033 0.041 0.025
eps 1.460 1.530 1.300 0.810 0.810 0.460
epsdiluted 1.450 1.520 1.290 0.810 0.810 0.460
weightedAverageShsOut 11M 11M 12M 11M 11M 11M
weightedAverageShsOutDil 12M 12M 12M 11M 11M 11M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol MLR MLR MLR MLR MLR MLR
reportedCurrency USD USD USD USD USD USD
cik 924 822 924 822 924 822 924 822 924 822 924 822
fillingDate 2024-03-06 2023-11-08 2023-08-09 2023-05-03 2023-03-08 2022-11-09
acceptedDate 2024-03-06 16:55:34 2023-11-08 16:01:30 2023-08-09 13:59:16 2023-05-03 16:59:37 2023-03-08 17:28:47 2022-11-09 16:34:04
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 30M 27M -807 000 30M 40M -944 000
shortTermInvestments 0 0 31M 0 40M 0
cashAndShortTermInvestments 30M 27M 31M 30M 40M 33M
netReceivables 286M 241M 265M 233M 178M 168M
inventory 190M 176M 167M 164M 154M 144M
otherCurrentAssets 5M 5M 6M 7M -36M 6M
totalCurrentAssets 510M 449M 469M 434M 376M 352M
propertyPlantEquipmentNet 116M 117M 117M 112M 113M 113M
goodwill 20M 21M 21M 12M 12M 12M
intangibleAssets 0 0 0 0 0 0
goodwillAndIntangibleAssets 20M 21M 21M 12M 12M 12M
longTermInvestments 0 -6M 0 0 0 0
taxAssets 7M 6M 0 6M 6M 0
otherNonCurrentAssets 819 000 782 000 681 000 -5M -6M 626 000
totalNonCurrentAssets 144M 138M 138M 124M 125M 126M
otherAssets 0 0 0 0 0 0
totalAssets 654M 587M 607M 558M 501M 477M
accountPayables 192M 147M 189M 169M 126M 107M
shortTermDebt 320 000 282 000 311 000 307 000 311 000 316 000
taxPayables 2M 1M 882 000 5M 2M 0
deferredRevenue 6M 1M 242 000 0 0 0
otherCurrentLiabilities 37M 40M 35M 35M 30M 30M
totalCurrentLiabilities 235M 189M 225M 205M 156M 138M
longTermDebt 60M 60M 60M 46M 46M 46M
deferredRevenueNonCurrent 0 -6M 60M -6M -6M 0
deferredTaxLiabilitiesNonCurrent 11M 6M 6M 6M 6M 5M
otherNonCurrentLiabilities 505 999 6M -60M 6M 6M -57M
totalNonCurrentLiabilities 71M 67M 67M 52M 52M 51M
otherLiabilities 1.000 0 0 0 0 0
capitalLeaseObligations 506 000 704 000 807 000 876 000 908 000 944 000
totalLiabilities 306M 255M 291M 256M 208M 189M
preferredStock 0 0 0 0 0 0
commonStock 114 000 114 000 114 000 114 000 114 000 114 000
retainedEarnings 200M 186M 170M 157M 150M 147M
accumulatedOtherComprehensiveIncomeLoss -6M -6M -7M -8M -9M -11M
othertotalStockholdersEquity 154M 153M 153M 152M 152M 152M
totalStockholdersEquity 348M 332M 316M 302M 293M 289M
totalEquity 348M 332M 316M 302M 293M 289M
totalLiabilitiesAndStockholdersEquity 654M 587M 607M 558M 501M 477M
minorityInterest 0 0 0 0 0 0
totalLiabilitiesAndTotalEquity 654M 587M 607M 558M 501M 477M
totalInvestments 0 -6M 31M 0 40M 0
totalDebt 61M 61M 61M 46M 46M 46M
netDebt 31M 34M 62M 16M 5M 47M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol MLR MLR MLR MLR MLR MLR
reportedCurrency USD USD USD USD USD USD
cik 924 822 924 822 924 822 924 822 924 822 924 822
fillingDate 2024-03-06 2023-11-08 2023-08-09 2023-05-03 2023-03-08 2022-11-09
acceptedDate 2024-03-06 16:55:34 2023-11-08 16:01:30 2023-08-09 13:59:16 2023-05-03 16:59:37 2023-03-08 17:28:47 2022-11-09 16:34:04
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
netIncome 17M 17M 15M 9M 9M 5M
depreciationAndAmortization 4M 3M 3M 3M 3M 3M
deferredIncomeTax -2M -98 000 22 000 -66 000 1M -37 000
stockBasedCompensation 259 000 569 000 8000.000 223 000 223 000 223 000
changeInWorkingCapital -12M -20M -9M -19M -1M -5M
accountsReceivables -46M 24M -29M -55M -9M 23M
inventory -13M -8M 913 000 -10M -8M -5M
accountsPayables 45M -43M 19M 44M 15M -29M
otherWorkingCapital 2M 7M 982 000 22M 1M 7M
otherNonCashItems -29 000 -110 000 108 000 106 000 47 000 29 000
netCashProvidedByOperatingActivities 7M 1M 10M -7M 12M 3M
investmentsInPropertyPlantAndEquipment -2M -3M -5M -2M -4M -2M
acquisitionsNet 796 000 -211 000 -18M 0 0 0
purchasesOfInvestments 0 0 0 0 0 0
salesMaturitiesOfInvestments 0 0 0 0 0 0
otherInvestingActivites 370 000 -211 000 0 0 0 0
netCashUsedForInvestingActivites -2M -3M -22M -2M -4M -2M
debtRepayment 0 0 -15M 0 0 -4000.000
commonStockIssued 0 0 0 0 0 0
commonStockRepurchased 0 0 0 0 0 0
dividendsPaid -2M -2M -2M -2M -2M -2M
otherFinancingActivites 0 0 30M 0 0 5M
netCashUsedProvidedByFinancingActivities -2M -2M 13M -2M -2M 3M
effectOfForexChangesOnCash -50 000 436 000 592 000 139 000 365 000 -2M
netChangeInCash 3M -4M 782 000 -10M 7M 2M
cashAtEndOfPeriod 30M 27M 31M 30M 40M 33M
cashAtBeginningOfPeriod 27M 31M 30M 40M 33M 31M
operatingCashFlow 7M 1M 10M -7M 12M 3M
capitalExpenditure -2M -3M -5M -2M -4M -2M
freeCashFlow 4M -2M 5M -9M 9M 938 000
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

2023 q4
2024-03-07 ET (fiscal 2023 q4)
2023 q3
2023-11-09 ET (fiscal 2023 q3)
2023 q2
2023-08-10 ET (fiscal 2023 q2)
2023 q1
2023-05-05 ET (fiscal 2023 q1)
2022 q4
2023-03-09 ET (fiscal 2022 q4)
2022 q3
2022-11-10 ET (fiscal 2022 q3)
2022 q2
2022-08-07 ET (fiscal 2022 q2)
2022 q1
2022-05-08 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-03-06 21:43 ET
MILLER INDUSTRIES REPORTS 2023 FOURTH QUARTER AND FULL YEAR RESULTS
2024-03-06 21:42 ET
MILLER INDUSTRIES BOARD INCREASES DIVIDEND
2024-02-28 21:30 ET
MILLER INDUSTRIES TO ANNOUNCE FOURTH QUARTER AND FULL YEAR 2023 RESULTS ON WEDNESDAY MARCH 6, 2024
2024-02-26 14:00 ET
MILLER INDUSTRIES ANNOUNCES DATE OF THE ANNUAL MEETING OF SHAREHOLDERS
2024-02-06 21:30 ET
MILLER INDUSTRIES REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2023 RESULTS
2023-11-14 18:48 ET
Miller Industries to Host 1x1 Meetings with Investors at the Southwest IDEAS Investor Conference
2023-11-08 21:15 ET
MILLER INDUSTRIES REPORTS 2023 THIRD QUARTER RESULTS
2023-11-01 20:15 ET
MILLER INDUSTRIES TO ANNOUNCE THIRD QUARTER 2023 RESULTS ON WEDNESDAY NOVEMBER 8, 2023
2023-09-20 22:18 ET
Miller Industries to Host 1x1 Meetings with Investors at the D.A. Davidson 22nd Annual Diversified Industrials and Services Conference
2023-08-09 18:53 ET
MILLER INDUSTRIES REPORTS 2023 SECOND QUARTER RESULTS
2023-08-02 20:15 ET
MILLER INDUSTRIES TO ANNOUNCE SECOND QUARTER 2023 RESULTS ON WEDNESDAY AUGUST 9, 2023
2023-05-31 20:15 ET
MILLER INDUSTRIES ANNOUNCES ACQUISITION OF SOUTHERN HYDRAULIC CYLINDER
2023-05-03 20:15 ET
MILLER INDUSTRIES REPORTS 2023 FIRST QUARTER RESULTS
2023-04-26 20:15 ET
MILLER INDUSTRIES TO ANNOUNCE FIRST QUARTER 2023 RESULTS ON WEDNESDAY MAY 3, 2023
2023-03-10 14:05 ET
MILLER INDUSTRIES APPOINTS NEW MEMBERS TO BOARD OF DIRECTORS AND REACHES AGREEMENT WITH LAKEVIEW
2023-03-08 23:49 ET
MILLER INDUSTRIES REPORTS 2022 FOURTH QUARTER AND FULL YEAR RESULTS
2023-03-01 21:15 ET
MILLER INDUSTRIES TO ANNOUNCE FOURTH QUARTER AND FULL YEAR 2022 RESULTS ON WEDNESDAY MARCH 8, 2023
2022-11-09 21:23 ET
MILLER INDUSTRIES REPORTS 2022 THIRD QUARTER RESULTS
2022-11-02 20:15 ET
MILLER INDUSTRIES TO ANNOUNCE THIRD QUARTER 2022 RESULTS ON WEDNESDAY NOVEMBER 9, 2022
2022-08-03 20:15 ET
MILLER INDUSTRIES REPORTS 2022 SECOND QUARTER RESULTS
2022-07-28 20:15 ET
MILLER INDUSTRIES TO ANNOUNCE SECOND QUARTER 2022 RESULTS ON AUGUST 3, 2022
2022-05-04 20:15 ET
MILLER INDUSTRIES REPORTS 2022 FIRST QUARTER RESULTS
2022-04-28 20:05 ET
MILLER INDUSTRIES TO ANNOUNCE FIRST QUARTER 2022 RESULTS ON MAY 4, 2022
2022-03-09 21:05 ET
MILLER INDUSTRIES REPORTS 2021 FOURTH QUARTER AND FULL YEAR RESULTS
2022-03-02 21:05 ET
MILLER INDUSTRIES TO ANNOUNCE FOURTH QUARTER AND FULL YEAR 2021 RESULTS ON MARCH 9, 2022
2022-03-02 21:05 ET
MILLER INDUSTRIES GRANTS EQUITY AWARDS TO EXECUTIVE OFFICERS
2021-11-03 20:15 ET
Miller Industries Reports 2021 Third Quarter Results
2021-10-28 20:15 ET
Miller Industries To Announce Third Quarter 2021 Results On November 3, 2021
2021-08-04 20:15 ET
Miller Industries Reports 2021 Second Quarter Results
2021-07-28 20:15 ET
Miller Industries To Announce Second Quarter 2021 Results On August 4, 2021
2021-05-05 20:15 ET
Miller Industries Reports 2021 First Quarter Results
2021-04-28 20:15 ET
Miller Industries To Announce First Quarter 2021 Results On May 5, 2021
2021-03-03 21:15 ET
Miller Industries Reports 2020 Fourth Quarter And Full Year Results
2021-02-24 21:15 ET
Miller Industries To Announce Fourth Quarter And Full Year Results On March 3, 2021
2020-11-04 21:15 ET
Miller Industries Reports 2020 Third Quarter Results
2020-10-28 20:15 ET
Miller Industries to Announce Third Quarter Results on November 4, 2020
2020-08-05 20:15 ET
Miller Industries Reports 2020 Second Quarter Results
2020-07-29 20:15 ET
Miller Industries To Announce Second Quarter Results On August 5, 2020
2019-11-06 21:15 ET
Miller Industries Reports 2019 Third Quarter Results

SEC forms

Show financial reports only

SEC form 8
2024-03-06 16:56 ET
Miller Industries published news for 2023 q4
SEC form 8
2024-03-06 16:56 ET
Miller Industries reported for 2023 q4
SEC form 10
2024-03-06 16:55 ET
Miller Industries published news for 2023 q4
SEC form 10
2024-03-06 00:00 ET
Miller Industries published news for 2023 q4
SEC form 8
2024-02-06 00:00 ET
Miller Industries published news for 2023 q4
SEC form 8
2024-02-06 00:00 ET
Miller Industries published news for 2023 q4
SEC form 8
2023-11-08 16:02 ET
Miller Industries published news for 2023 q3
SEC form 10
2023-11-08 16:01 ET
Miller Industries reported for 2023 q3
SEC form 10
2023-11-08 00:00 ET
Miller Industries published news for 2023 q3
SEC form 6
2023-08-09 14:00 ET
Miller Industries published news for 2023 q2
SEC form 10
2023-08-09 13:59 ET
Miller Industries reported for 2023 q2
SEC form 10
2023-08-09 00:00 ET
Miller Industries published news for 2023 q2
SEC form 8
2023-08-09 00:00 ET
Miller Industries published news for 2023 q2
SEC form 8
2023-05-03 00:00 ET
Miller Industries published news for 2023 q1
SEC form 10
2023-05-03 00:00 ET
Miller Industries published news for 2023 q1
SEC form 6
2023-03-10 09:28 ET
Miller Industries published news for 2022 q4
SEC form 8
2023-03-09 00:00 ET
Miller Industries reported for 2022 q4
SEC form 6
2023-03-08 17:59 ET
Miller Industries published news for 2022 q4
SEC form 10
2023-03-08 17:28 ET
Miller Industries reported for 2022 q4
SEC form 10
2023-03-08 00:00 ET
Miller Industries published news for 2022 q4
SEC form 10
2022-11-09 16:34 ET
Miller Industries reported for 2022 q3
SEC form 6
2022-11-09 16:29 ET
Miller Industries published news for 2022 q3
SEC form 8
2022-11-09 00:00 ET
Miller Industries published news for 2022 q3
SEC form 10
2022-11-09 00:00 ET
Miller Industries reported for 2022 q3
SEC form 6
2022-11-03 16:29 ET
Miller Industries published news for 2022 q3
SEC form 6
2022-10-06 16:16 ET
Miller Industries published news for 2022 q3
SEC form 6
2022-10-04 11:50 ET
Miller Industries published news for 2022 q3
SEC form 10
2022-08-03 16:29 ET
Miller Industries reported for 2022 q2
SEC form 6
2022-08-03 16:25 ET
Miller Industries published news for 2022 q2
SEC form 8
2022-08-03 00:00 ET
Miller Industries published news for 2022 q2
SEC form 10
2022-08-03 00:00 ET
Miller Industries reported for 2022 q2
SEC form 10
2022-05-04 17:19 ET
Miller Industries reported for 2022 q1
SEC form 6
2022-05-04 16:26 ET
Miller Industries published news for 2022 q1
SEC form 8
2022-05-04 00:00 ET
Miller Industries published news for 2022 q1
SEC form 10
2022-05-04 00:00 ET
Miller Industries reported for 2022 q1
SEC form 6
2022-04-14 16:14 ET
Miller Industries published news for 2022 q1
SEC form 10
2022-03-09 16:35 ET
Miller Industries published news for 2021 q4
SEC form 6
2022-03-09 16:23 ET
Miller Industries published news for 2021 q4
SEC form 10
2022-03-09 00:00 ET
Miller Industries published news for 2021 q4
SEC form 8
2022-03-09 00:00 ET
Miller Industries published news for 2021 q4
SEC form 6
2022-03-07 16:18 ET
Miller Industries published news for 2021 q4
SEC form 10
2021-11-03 16:30 ET
Miller Industries published news for 2021 q3
SEC form 6
2021-11-03 16:23 ET
Miller Industries published news for 2021 q3
SEC form 10
2021-11-03 00:00 ET
Miller Industries published news for 2021 q3
SEC form 8
2021-11-03 00:00 ET
Miller Industries published news for 2021 q3
SEC form 10
2021-08-04 16:32 ET
Miller Industries published news for 2021 q2
SEC form 6
2021-08-04 16:21 ET
Miller Industries published news for 2021 q2
SEC form 8
2021-08-04 00:00 ET
Miller Industries published news for 2021 q2
SEC form 10
2021-08-04 00:00 ET
Miller Industries published news for 2021 q2
SEC form 6
2021-06-01 16:36 ET
Miller Industries published news for 2021 q1
SEC form 10
2021-05-05 16:31 ET
Miller Industries published news for 2021 q1
SEC form 6
2021-05-05 16:20 ET
Miller Industries published news for 2021 q1
SEC form 8
2021-05-05 00:00 ET
Miller Industries published news for 2021 q1
SEC form 10
2021-05-05 00:00 ET
Miller Industries published news for 2021 q1
SEC form 6
2021-04-16 07:57 ET
Miller Industries published news for 2021 q1
SEC form 6
2021-03-11 16:16 ET
Miller Industries published news for 2020 q4
SEC form 10
2021-03-03 16:55 ET
Miller Industries published news for 2020 q4
SEC form 6
2021-03-03 16:38 ET
Miller Industries published news for 2020 q4
SEC form 6
2020-12-23 16:45 ET
Miller Industries published news for 2020 q3
SEC form 10
2020-11-04 16:33 ET
Miller Industries published news for 2020 q3
SEC form 6
2020-11-04 16:22 ET
Miller Industries published news for 2020 q3