NYSE:MLR

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Miller Industries, Inc., together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. More Details

Rewards

Trading at 78.7% below our estimate of its fair value

Pays a reliable dividend of 1.72%

Risk Analysis

No risks detected for MLR from our risk checks.


Snowflake Analysis

Undervalued with excellent balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Miller Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MLR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: MLR's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

4.7%

MLR

5.2%

US Machinery

-1.4%

US Market


1 Year Return

36.4%

MLR

44.6%

US Machinery

37.1%

US Market

Return vs Industry: MLR underperformed the US Machinery industry which returned 40.7% over the past year.

Return vs Market: MLR exceeded the US Market which returned 34.1% over the past year.


Shareholder returns

MLRIndustryMarket
7 Day4.7%5.2%-1.4%
30 Day0.2%7.1%1.6%
90 Day22.3%13.3%7.3%
1 Year39.6%36.4%48.2%44.6%40.2%37.1%
3 Year85.4%72.3%49.2%38.5%62.5%52.1%
5 Year145.5%115.2%164.8%136.1%133.9%108.0%

Long-Term Price Volatility Vs. Market

How volatile is Miller Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Miller Industries undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MLR ($41.96) is trading below our estimate of fair value ($196.54)

Significantly Below Fair Value: MLR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MLR is good value based on its PE Ratio (16.2x) compared to the US Machinery industry average (34.1x).

PE vs Market: MLR is good value based on its PE Ratio (16.2x) compared to the US market (21.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MLR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MLR is good value based on its PB Ratio (1.8x) compared to the US Machinery industry average (3.1x).


Next Steps

Future Growth

How is Miller Industries forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

19.9%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Miller Industries has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Miller Industries performed over the past 5 years?

17.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MLR has high quality earnings.

Growing Profit Margin: MLR's current net profit margins (4.4%) are lower than last year (4.8%).


Past Earnings Growth Analysis

Earnings Trend: MLR's earnings have grown by 17.9% per year over the past 5 years.

Accelerating Growth: MLR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MLR had negative earnings growth (-22.8%) over the past year, making it difficult to compare to the Machinery industry average (-14.1%).


Return on Equity

High ROE: MLR's Return on Equity (10.8%) is considered low.


Next Steps

Financial Health

How is Miller Industries's financial position?


Financial Position Analysis

Short Term Liabilities: MLR's short term assets ($289.1M) exceed its short term liabilities ($122.1M).

Long Term Liabilities: MLR's short term assets ($289.1M) exceed its long term liabilities ($5.0M).


Debt to Equity History and Analysis

Debt Level: MLR's debt to equity ratio (0.04%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if MLR's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: MLR's debt is well covered by operating cash flow (51237%).

Interest Coverage: MLR's interest payments on its debt are well covered by EBIT (24.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Miller Industries's current dividend yield, its reliability and sustainability?

1.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MLR's dividend (1.72%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: MLR's dividend (1.72%) is low compared to the top 25% of dividend payers in the US market (3.75%).


Stability and Growth of Payments

Stable Dividend: MLR's dividends per share have been stable in the past 10 years.

Growing Dividend: MLR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.8%), MLR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.2yrs

Average management tenure


CEO

Jeffrey Badgley (68 yo)

7.17yrs

Tenure

US$929,877

Compensation

Mr. Jeffrey I. Badgley has been Co-Chief Executive Officer of Miller Industries Inc. since December 2013. Mr. Badgley served as Co-Chief Executive Officer and President of Miller Industries Inc. from Octob...


CEO Compensation Analysis

Compensation vs Market: Jeffrey's total compensation ($USD929.88K) is below average for companies of similar size in the US market ($USD1.53M).

Compensation vs Earnings: Jeffrey's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
William Miller
Founder & Executive Chairman26.83yrsUS$320.95k2.59%
$ 11.9m
Jeffrey Badgley
Co-Chief Executive Officer7.17yrsUS$929.88kno data
William Miller
President6.75yrsUS$929.88kno data
Deborah Whitmire
Executive VP1yrUS$407.65kno data
Josias Reyneke
Chief Information Officer4.08yrsUS$300.51kno data
Frank Madonia
Executive VP22.42yrsUS$346.77k0.000010%
$ 46.1

7.2yrs

Average Tenure

65.5yo

Average Age

Experienced Management: MLR's management team is seasoned and experienced (7.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Miller
Founder & Executive Chairman26.83yrsUS$320.95k2.59%
$ 11.9m
William Miller
President6.75yrsUS$929.88kno data
Deborah Whitmire
Executive VP1yrUS$407.65kno data
Richard Roberts
Independent Director26.83yrsUS$132.00k0.33%
$ 1.5m
A. Chandler
Independent Director26.83yrsUS$112.00k0.61%
$ 2.8m
Leigh Walton
Independent Director1yrno data0.023%
$ 106.7k
Theodore Ashford
Independent Director10.83yrsUS$112.00k0.10%
$ 467.2k

10.8yrs

Average Tenure

65yo

Average Age

Experienced Board: MLR's board of directors are seasoned and experienced ( 10.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Miller Industries, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Miller Industries, Inc.
  • Ticker: MLR
  • Exchange: NYSE
  • Founded: 1990
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: US$460.781m
  • Shares outstanding: 11.41m
  • Website: https://www.millerind.com

Number of Employees


Location

  • Miller Industries, Inc.
  • 8503 Hilltop Drive
  • Ooltewah
  • Tennessee
  • 37363
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MLRNYSE (New York Stock Exchange)YesCommon StockUSUSDDec 1995
5OJDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1995

Biography

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...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/24 23:18
End of Day Share Price2021/02/24 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.