MILLER INDUSTRIES INC/TENN (MLR) Stock Fundamental Analysis
NYSE:MLR - New York Stock Exchange, Inc. - US6005512040 - Common Stock - Currency: USD
Overall MLR gets a fundamental rating of 5 out of 10. We evaluated MLR against 128 industry peers in the Machinery industry. Both the profitability and the financial health of MLR get a neutral evaluation. Nothing too spectacular is happening here. MLR has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
MLR had positive earnings in the past year.
MLR had a positive operating cash flow in the past year.
MLR had positive earnings in each of the past 5 years.
Of the past 5 years MLR 4 years had a positive operating cash flow.
1.2 Ratios
MLR's Return On Assets of 9.52% is fine compared to the rest of the industry. MLR outperforms 77.34% of its industry peers.
MLR has a better Return On Equity (15.83%) than 72.66% of its industry peers.
The Return On Invested Capital of MLR (14.25%) is better than 84.38% of its industry peers.
MLR had an Average Return On Invested Capital over the past 3 years of 12.05%. This is in line with the industry average of 10.75%.
The last Return On Invested Capital (14.25%) for MLR is above the 3 year average (12.05%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.52% | ||
| ROE | 15.83% | ||
| ROIC | 14.25% |
ROA(3y)7.52%
ROA(5y)6.76%
ROE(3y)13.17%
ROE(5y)11.16%
ROIC(3y)12.05%
ROIC(5y)10.64%
1.3 Margins
MLR's Profit Margin of 5.05% is in line compared to the rest of the industry. MLR outperforms 50.78% of its industry peers.
In the last couple of years the Profit Margin of MLR has remained more or less at the same level.
MLR has a Operating Margin (6.72%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of MLR has remained more or less at the same level.
MLR's Gross Margin of 13.58% is on the low side compared to the rest of the industry. MLR is outperformed by 83.59% of its industry peers.
MLR's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.72% | ||
| PM (TTM) | 5.05% | ||
| GM | 13.58% |
OM growth 3Y26.88%
OM growth 5Y0.66%
PM growth 3Y30.5%
PM growth 5Y1.11%
GM growth 3Y11.72%
GM growth 5Y2.86%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so MLR is still creating some value.
Compared to 1 year ago, MLR has about the same amount of shares outstanding.
MLR has more shares outstanding than it did 5 years ago.
The debt/assets ratio for MLR is higher compared to a year ago.
2.2 Solvency
MLR has an Altman-Z score of 4.47. This indicates that MLR is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of MLR (4.47) is better than 74.22% of its industry peers.
MLR has a debt to FCF ratio of 42.82. This is a negative value and a sign of low solvency as MLR would need 42.82 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 42.82, MLR is doing worse than 68.75% of the companies in the same industry.
A Debt/Equity ratio of 0.16 indicates that MLR is not too dependend on debt financing.
MLR has a better Debt to Equity ratio (0.16) than 74.22% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 42.82 | ||
| Altman-Z | 4.47 |
ROIC/WACC1.32
WACC10.8%
2.3 Liquidity
MLR has a Current Ratio of 2.68. This indicates that MLR is financially healthy and has no problem in meeting its short term obligations.
With a decent Current ratio value of 2.68, MLR is doing good in the industry, outperforming 71.09% of the companies in the same industry.
A Quick Ratio of 1.74 indicates that MLR should not have too much problems paying its short term obligations.
With a decent Quick ratio value of 1.74, MLR is doing good in the industry, outperforming 70.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.68 | ||
| Quick Ratio | 1.74 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 8.28% over the past year.
MLR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.79% yearly.
Looking at the last year, MLR shows a quite strong growth in Revenue. The Revenue has grown by 9.02% in the last year.
The Revenue has been growing by 8.98% on average over the past years. This is quite good.
EPS 1Y (TTM)8.28%
EPS 3Y56.79%
EPS 5Y9.79%
EPS Q2Q%-37.24%
Revenue 1Y (TTM)9.02%
Revenue growth 3Y20.57%
Revenue growth 5Y8.98%
Sales Q2Q%-25.09%
3.2 Future
Based on estimates for the next years, MLR will show a small growth in Earnings Per Share. The EPS will grow by 6.09% on average per year.
Based on estimates for the next years, MLR will show a small growth in Revenue. The Revenue will grow by 2.38% on average per year.
EPS Next Y-45.08%
EPS Next 2Y-5.05%
EPS Next 3Y6.09%
EPS Next 5YN/A
Revenue Next Year-22.7%
Revenue Next 2Y-4.27%
Revenue Next 3Y2.38%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
MLR is valuated cheaply with a Price/Earnings ratio of 7.22.
MLR's Price/Earnings ratio is rather cheap when compared to the industry. MLR is cheaper than 92.19% of the companies in the same industry.
When comparing the Price/Earnings ratio of MLR to the average of the S&P500 Index (28.29), we can say MLR is valued rather cheaply.
The Price/Forward Earnings ratio is 13.14, which indicates a correct valuation of MLR.
Based on the Price/Forward Earnings ratio, MLR is valued a bit cheaper than 77.34% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of MLR to the average of the S&P500 Index (21.32), we can say MLR is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.22 | ||
| Fwd PE | 13.14 |
4.2 Price Multiples
92.19% of the companies in the same industry are more expensive than MLR, based on the Enterprise Value to EBITDA ratio.
MLR's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. MLR is more expensive than 69.53% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 299.11 | ||
| EV/EBITDA | 5.09 |
4.3 Compensation for Growth
MLR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.74
EPS Next 2Y-5.05%
EPS Next 3Y6.09%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.99%, MLR has a reasonable but not impressive dividend return.
The stock price of MLR dropped by -40.81% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
MLR's Dividend Yield is a higher than the industry average which is at 2.12.
Compared to the average S&P500 Dividend Yield of 2.51, MLR is paying slightly less dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.99% |
5.2 History
The dividend of MLR has a limited annual growth rate of 1.14%.
MLR has been paying a dividend for at least 10 years, so it has a reliable track record.
MLR has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)1.14%
Div Incr Years1
Div Non Decr Years14
5.3 Sustainability
13.74% of the earnings are spent on dividend by MLR. This is a low number and sustainable payout ratio.
The dividend of MLR is growing, but earnings are growing more, so the dividend growth is sustainable.
DP13.74%
EPS Next 2Y-5.05%
EPS Next 3Y6.09%
39.62
-0.57 (-1.42%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)
Earnings (Next)
Inst Owners93.96%
Inst Owner Change0.15%
Ins Owners3.96%
Ins Owner Change19.05%
Market Cap454.05M
Analysts80
Price Target71.91 (81.5%)
Short Float %9.58%
Short Ratio9.19
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.99% |
Yearly Dividend0.76
Dividend Growth(5Y)1.14%
DP13.74%
Div Incr Years1
Div Non Decr Years14
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-12.48%
Min EPS beat(2)-23.97%
Max EPS beat(2)-0.99%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-9.89%
Min Revenue beat(2)-24.32%
Max Revenue beat(2)4.54%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-9.62%
PT rev (3m)-9.62%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-55.52%
EPS NY rev (1m)-51.78%
EPS NY rev (3m)-51.78%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-34.54%
Revenue NY rev (1m)-27.57%
Revenue NY rev (3m)-27.57%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.22 | ||
| Fwd PE | 13.14 | ||
| P/S | 0.36 | ||
| P/FCF | 299.11 | ||
| P/OCF | 26.91 | ||
| P/B | 1.13 | ||
| P/tB | 1.19 | ||
| EV/EBITDA | 5.09 |
EPS(TTM)5.49
EY13.86%
EPS(NY)3.01
Fwd EY7.61%
FCF(TTM)0.13
FCFY0.33%
OCF(TTM)1.47
OCFY3.72%
SpS109.73
BVpS34.99
TBVpS33.25
PEG (NY)N/A
PEG (5Y)0.74
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.52% | ||
| ROE | 15.83% | ||
| ROCE | 18.01% | ||
| ROIC | 14.25% | ||
| ROICexc | 15.03% | ||
| ROICexgc | 15.74% | ||
| OM | 6.72% | ||
| PM (TTM) | 5.05% | ||
| GM | 13.58% | ||
| FCFM | 0.12% |
ROA(3y)7.52%
ROA(5y)6.76%
ROE(3y)13.17%
ROE(5y)11.16%
ROIC(3y)12.05%
ROIC(5y)10.64%
ROICexc(3y)13%
ROICexc(5y)12.03%
ROICexgc(3y)13.63%
ROICexgc(5y)12.64%
ROCE(3y)15.23%
ROCE(5y)13.44%
ROICexcg growth 3Y23.72%
ROICexcg growth 5Y-2.98%
ROICexc growth 3Y23.89%
ROICexc growth 5Y-2.91%
OM growth 3Y26.88%
OM growth 5Y0.66%
PM growth 3Y30.5%
PM growth 5Y1.11%
GM growth 3Y11.72%
GM growth 5Y2.86%
F-Score7
Asset Turnover1.89
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 42.82 | ||
| Debt/EBITDA | 0.66 | ||
| Cap/Depr | 109.11% | ||
| Cap/Sales | 1.22% | ||
| Interest Coverage | 8.7 | ||
| Cash Conversion | 17.12% | ||
| Profit Quality | 2.39% | ||
| Current Ratio | 2.68 | ||
| Quick Ratio | 1.74 | ||
| Altman-Z | 4.47 |
F-Score7
WACC10.8%
ROIC/WACC1.32
Cap/Depr(3y)148.85%
Cap/Depr(5y)142.34%
Cap/Sales(3y)1.89%
Cap/Sales(5y)1.93%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.28%
EPS 3Y56.79%
EPS 5Y9.79%
EPS Q2Q%-37.24%
EPS Next Y-45.08%
EPS Next 2Y-5.05%
EPS Next 3Y6.09%
EPS Next 5YN/A
Revenue 1Y (TTM)9.02%
Revenue growth 3Y20.57%
Revenue growth 5Y8.98%
Sales Q2Q%-25.09%
Revenue Next Year-22.7%
Revenue Next 2Y-4.27%
Revenue Next 3Y2.38%
Revenue Next 5YN/A
EBIT growth 1Y7.25%
EBIT growth 3Y52.97%
EBIT growth 5Y9.69%
EBIT Next Year-29.38%
EBIT Next 3Y8.04%
EBIT Next 5YN/A
FCF growth 1Y233.86%
FCF growth 3Y-37.17%
FCF growth 5Y-38.84%
OCF growth 1Y53.88%
OCF growth 3Y3.38%
OCF growth 5Y-13.64%