NYSE:MLR

Stock Analysis Report

Executive Summary

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

Rewards

PE ratio (10x) is below the US market (18.3x)

Earnings grew by 18.5% over the past year

Pays a reliable dividend of 2.14%

Risk Analysis

No risks detected for MLR from our risk checks.


Snowflake Analysis

Excellent balance sheet with proven track record 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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.0%

MLR

-1.4%

US Machinery

0.5%

US Market


1 Year Return

3.0%

MLR

9.4%

US Machinery

20.3%

US Market

Return vs Industry: MLR underperformed the US Machinery industry which returned 9.4% over the past year.

Return vs Market: MLR underperformed the US Market which returned 20.3% over the past year.


Shareholder returns

MLRIndustryMarket
7 Day-2.0%-1.4%0.5%
30 Day-5.5%-1.7%2.0%
90 Day-5.9%1.4%9.4%
1 Year5.4%3.0%11.4%9.4%22.8%20.3%
3 Year42.7%32.0%37.8%29.0%50.1%40.4%
5 Year76.0%53.3%61.4%42.3%73.1%54.1%

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?

10.04x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MLR ($33.67) is trading above our estimate of fair value ($14.52)

Significantly Below Fair Value: MLR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MLR is good value based on its PE Ratio (10x) compared to the Machinery industry average (21.3x).

PE vs Market: MLR is good value based on its PE Ratio (10x) compared to the US market (18.3x).


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 (1.5x) compared to the US Machinery industry average (2.2x).


Next Steps

Future Growth

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

9.2%

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?

21.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MLR has high quality earnings.

Growing Profit Margin: MLR's current net profit margins (4.8%) are higher than last year (4.7%).


Past Earnings Growth Analysis

Earnings Trend: MLR's earnings have grown significantly by 21.6% per year over the past 5 years.

Accelerating Growth: MLR's earnings growth over the past year (18.5%) is below its 5-year average (21.6% per year).

Earnings vs Industry: MLR earnings growth over the past year (18.5%) exceeded the Machinery industry 1.5%.


Return on Equity

High ROE: MLR's Return on Equity (15.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Miller Industries's financial position?


Financial Position Analysis

Short Term Liabilities: MLR's short term assets ($296.1M) exceed its short term liabilities ($140.4M).

Long Term Liabilities: MLR's short term assets ($296.1M) exceed its long term liabilities ($13.0M).


Debt to Equity History and Analysis

Debt Level: MLR's debt to equity ratio (4.2%) 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 (330.3%).

Interest Coverage: MLR's interest payments on its debt are well covered by EBIT (21.8x coverage).


Balance Sheet

Inventory Level: MLR has a high level of physical assets or inventory.

Debt Coverage by Assets: MLR's debt is covered by short term assets (assets are 28.3x debt).


Next Steps

Dividend

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

2.14%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MLR's dividend (2.14%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: MLR's dividend (2.14%) is low compared to the top 25% of dividend payers in the US market (3.73%).


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 low payout ratio (21.5%), 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?

6.2yrs

Average management tenure


CEO

Jeffrey Badgley (67yo)

6.2yrs

Tenure

US$638,020

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 ($USD638.02K) is below average for companies of similar size in the US market ($USD1.66M).

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


Leadership Team

NamePositionTenureCompensationOwnership
William Miller
Founder & Executive Chairman25.8yrsUS$321.31k2.59% $10.0m
Jeffrey Badgley
Co-Chief Executive Officer6.2yrsUS$638.02kno data
William Miller
President5.8yrsUS$638.02kno data
Deborah Whitmire
Executive VP0yrsUS$379.80kno data
Josias Reyneke
Chief Information Officer3.1yrsUS$274.25kno data
Frank Madonia
Executive VP21.4yrsUS$324.39k0.000010% $38.5

6.2yrs

Average Tenure

64.5yo

Average Age

Experienced Management: MLR's management team is seasoned and experienced (6.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Miller
Founder & Executive Chairman25.8yrsUS$321.31k2.59% $10.0m
William Miller
President5.8yrsUS$638.02kno data
Deborah Whitmire
Executive VP0yrsUS$379.80kno data
Richard Roberts
Independent Director25.8yrsUS$132.00k0.31% $1.2m
A. Chandler
Independent Director25.8yrsUS$112.00k0.60% $2.3m
Leigh Walton
Director0yrsno data0.012% $44.8k
Theodore Ashford
Independent Director9.8yrsUS$112.00k0.090% $346.4k

25.8yrs

Average Tenure

59.5yo

Average Age

Experienced Board: MLR's board of directors are seasoned and experienced ( 25.8 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.


Recent Insider Transactions

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$385.323m
  • Shares outstanding: 11.40m
  • 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

Biography

Miller Industries, Inc., together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. It 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. The company also provides transport trailers for moving various vehicles for auto auctions, car dealerships, leasing companies, and other related applications. It markets its products under the Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige, and Boniface brands. The company 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. Miller Industries, Inc. was founded in 1990 and is based in Ooltewah, Tennessee. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 23:52
End of Day Share Price2020/02/19 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.