Update shared on 17 Nov 2025
Fair value Decreased 14%Narrative Update: Miller Industries Price Target Adjustment
Analysts have lowered their fair value estimate for Miller Industries from $57 to $49 in response to changes in revenue growth expectations and a notable contraction in profit margins.
What's in the News
- Miller Industries reaffirmed its revenue guidance for the fiscal year 2025, maintaining its target range of $750 to $800 million (Key Developments).
- Between July 1, 2025 and September 30, 2025, the company repurchased 26,707 shares for $1.16 million and has now completed the repurchase of 134,182 shares totaling $6.73 million under the share buyback program announced on April 2, 2024 (Key Developments).
Valuation Changes
- Fair Value Estimate: Reduced from $57 to $49, reflecting a significant revision in the company’s valuation.
- Discount Rate: Increased modestly from 8.21% to 8.52%, which signals a higher risk premium used in calculations.
- Revenue Growth Projection: Raised sharply from 3.64% to 11.12%, indicating more optimistic expectations for top-line expansion.
- Net Profit Margin: Declined substantially from 6.19% to 2.67%, suggesting a notable contraction in profitability.
- Future P/E Ratio: Increased from 11.8x to 22.4x, which implies a higher valuation relative to forecasted earnings despite margin pressures.
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