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MIR: Equity Offering Will Drive Future Upside Despite Lower Margin Assumptions

MIR: Expect Opportunities As New Partnerships And Index Inclusions Shape Outlook

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MIR
AnalystConsensusTarget
Not Invested
Published 21 Mar 2025

Update shared on 15 Dec 2025

Fair value Decreased 0.81%
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AnalystConsensusTarget's Fair Value
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1Y
29.8%
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-5.9%

Analysts have slightly reduced their price target on Mirion Technologies, from approximately $31.00 to $30.75 per share. They cite expectations for somewhat lower profit margins, which are only partly offset by modestly stronger revenue growth and a higher assumed future earnings multiple.

What's in the News

  • Mirion reaffirmed full year 2025 guidance, targeting total revenue growth of approximately 7.0% to 9.0%, including an expected foreign exchange tailwind and acquisition contribution, and organic revenue growth of about 4.5% to 6.0% (company guidance).
  • The company completed a follow on equity offering of Class A common stock totaling approximately $369.6 million, issuing 17,309,846 shares at a price of $21.35 per share (follow on equity offering).
  • Mirion previously filed a separate follow on equity offering for roughly $350.0 million, covering 14,227,642 shares of Class A common stock at a reference price of $24.60 (follow on equity filing).
  • The company updated its share repurchase activity, confirming that it bought back 1.16 million shares for $18.56 million under the buyback program announced in December 2024, with no additional shares repurchased in the July to September 2025 tranche (buyback tranche update).
  • Mirion entered into a partnership and practical arrangements with the International Atomic Energy Agency to collaborate on radiation detection and measurement, including training, data sharing, and in kind technology support for the IAEA TERC Laboratory (client announcement).

Valuation Changes

  • Fair Value: reduced slightly from $31.00 to $30.75 per share, reflecting a modest downgrade in intrinsic valuation.
  • Discount Rate: increased marginally from 8.96% to about 8.99%, indicating a slightly higher perceived risk or required return.
  • Revenue Growth: nudged higher from roughly 13.54% to about 13.59%, signaling a small upward revision in long term growth expectations.
  • Net Profit Margin: lowered significantly from approximately 16.31% to about 14.00%, marking a notable downgrade in long run profitability assumptions.
  • Future P/E: raised meaningfully from about 52.1x to roughly 60.2x, implying a higher expected valuation multiple on future earnings.

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Disclaimer

AnalystConsensusTarget is a tool utilizing a Large Language Model (LLM) that ingests data on consensus price targets, forecasted revenue and earnings figures, as well as the transcripts of earnings calls to produce qualitative analysis. The narratives produced by AnalystConsensusTarget are general in nature and are based solely on analyst data and publicly-available material published by the respective companies. These scenarios are not indicative of the company's future performance and are exploratory in nature. Simply Wall St has no position in the company(s) mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The price targets and estimates used are consensus data, and do not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that AnalystConsensusTarget's analysis may not factor in the latest price-sensitive company announcements or qualitative material.