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Mirion Technologies, Inc. (MIR)
:MIR
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Mirion Technologies
(NYSE:MIR)
52Neutral
Positive Factors
Business Growth
MIR’s Nuclear & Safety business continues to have significant growth tailwinds that should be supportive of MIR’s targeted +6%-8% organic growth in the business with still meaningful margin expansion potential.
M&A Activity
Management noted reduced net leverage at 2.5x and indicated a 'very strong' M&A pipeline, viewing acquisition-oriented capital deployment as likely to accelerate.
Market Position
Favorable demand drivers and MIR’s strong position within its end markets could be durable growth drivers.
Negative Factors
Debt Levels
Reduced debt leverage has improved M&A optionality; successful M&A history/platform.
Market Dynamics
The bullish outlook on nuclear energy development is expected to ultimately benefit Mirion Technologies.
Operational Challenges
An increased focus on operational execution and continuous improvement is contributing to ongoing margin expansion potential.
Mirion Technologies (MIR) vs. S&P 500 (SPY)
Market Cap
$3.40B
Dividend YieldN/A
Average Volume (3M)1.85M
Price to Earnings (P/E)―
Beta (1Y)1.68
Revenue Growth7.48%
EPS Growth63.59%
CountryUS
Employees2,860
SectorIndustrials
Sector Strength66
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-0.18
Shares Outstanding226,035,630
10 Day Avg. Volume1,859,435
30 Day Avg. Volume1,853,990
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.11
Price to Cash Flow (P/CF)14.60
P/FCF Ratio14.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$20.00Price Target Upside36.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Mirion Technologies Business Overview & Revenue Model
Company DescriptionMirion Technologies (MIR) is a leading provider of radiation detection, measurement, and monitoring solutions. The company operates across various sectors including nuclear power, medical, military, and homeland security. Its core products and services include radiation monitoring systems, dosimetry services, and specialized medical imaging solutions, designed to ensure safety and operational efficiency in environments where radiation is a concern.
How the Company Makes MoneyMirion Technologies generates revenue through the sale of its radiation detection, measurement, and monitoring products and services. Key revenue streams include sales of radiation monitoring equipment to nuclear power plants and government agencies, dosimetry services for medical and industrial applications, and the provision of safety and training solutions for military and homeland security sectors. The company benefits significantly from long-term contracts and partnerships with governmental and private entities seeking compliance with safety regulations and enhanced operational safety in radiation-prone environments.
Mirion Technologies Financial Statement Overview
Summary
Mirion Technologies demonstrates revenue growth and improved cost management, but struggles with profitability, indicated by a negative net profit margin. The balance sheet shows a healthy equity ratio and reduced leverage, contributing to long-term stability. Positive cash flows highlight operational resilience despite these challenges.Income Statement
Mirion Technologies shows a positive revenue growth from the previous year with a 7.48% increase. However, the company remains unprofitable with a negative net profit margin of -4.19% and a low EBIT margin of 2.88%. The gross profit margin improved to 46.44%, indicating better cost management but overall profitability remains a concern.50
Neutral
Balance Sheet
The company's balance sheet is relatively stable with a healthy equity ratio of 59.13%. The debt-to-equity ratio improved significantly from previous years, reflecting lower leverage. However, historical equity fluctuations suggest potential volatility in financial stability.60
Neutral
Cash Flow
Cash flow is positive with a strong operating cash flow to net income ratio indicating efficient cash management. Free cash flow decreased slightly from the previous year, but remains positive, highlighting operational resilience despite profitability challenges.55
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 860.80M | 800.90M | 717.80M | 322.10M | 478.20M | Gross Profit |
| 399.70M | 356.40M | 317.20M | 81.10M | 197.00M | EBIT |
| 24.80M | -21.90M | 266.90M | -61.60M | -1.37M | EBITDA |
| 24.80M | 114.30M | -90.80M | -19.20M | 22.88M | Net Income Common Stockholders |
| -36.10M | -96.90M | -324.80M | -127.90M | -1.04M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 175.20M | 134.10M | 77.80M | 84.00M | 383.25K | Total Assets |
| 2.64B | 2.72B | 2.74B | 3.12B | 751.32M | Total Debt |
| 34.70M | 721.00M | 849.60M | 860.60M | 1.70B | Net Debt |
| -140.50M | 592.20M | 776.10M | 776.60M | 1.70B | Total Liabilities |
| 1.08B | 1.17B | 1.27B | 1.33B | 27.59M | Stockholders Equity |
| 1.56B | 1.48B | -408.50M | 1.69B | 723.72M |
| Cash Flow | Free Cash Flow | |||
| 50.30M | 58.10M | 5.20M | -16.70M | -20.85M | Operating Cash Flow |
| 99.10M | 95.20M | 39.40M | 900.00K | -945.35K | Investing Cash Flow |
| -43.70M | -64.70M | -40.80M | -2.20B | -75.60M | Financing Cash Flow |
| -3.30M | 22.60M | -7.00M | 1.54B | 751.39M |
Mirion Technologies Technical Analysis
Negative
14.63
Price Trends
15.58
Negative
16.14
Negative
13.66
Positive
Market Momentum
-0.13
Negative
43.95
Neutral
38.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIR, the sentiment is Negative. The current price of 14.63 is below the 20-day moving average (MA) of 14.73, below the 50-day MA of 15.58, and above the 200-day MA of 13.66, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 43.95 is Neutral, neither overbought nor oversold. The STOCH value of 38.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MIR.
Mirion Technologies Risk Analysis
Mirion Technologies disclosed 45 risk factors in its most recent earnings report. Mirion Technologies reported the most risks in the “Legal & Regulatory” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Mirion Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $23.21B | 28.77 | 8.73% | ― | 0.53% | -7.18% | |
68 Neutral | $33.27B | 26.82 | 20.61% | 0.82% | -3.00% | 3.67% | |
68 Neutral | $74.46B | 29.53 | 35.88% | 1.01% | 12.22% | 28.13% | |
66 Neutral | $1.59B | 14.80 | 11.60% | 0.65% | 2.88% | 33.76% | |
66 Neutral | $8.67B | 107.27 | 2.27% | ― | 0.66% | ― | |
62 Neutral | $8.06B | 13.61 | 3.91% | 3.11% | 3.80% | -14.06% | |
52 Neutral | $3.40B | ― | -2.41% | ― | 7.48% | 63.59% |
* Industrials Sector Average
Performance Comparison
MIR
Mirion Technologies
14.63
3.47
31.09%
A
Agilent
116.69
-28.10
-19.41%
ICFI
Icf International
86.17
-62.87
-42.18%
TT
Trane Technologies
332.00
38.19
13.00%
QGEN
Qiagen
39.85
-2.63
-6.19%
TDY
Teledyne Technologies
495.52
70.59
16.61%
Mirion Technologies Earnings Call Summary
Earnings Call Date: Feb 11, 2025 | % Change Since: -9.52% | Next Earnings Date: Apr 30, 2025
Earnings Call Sentiment Positive
Mirion Technologies has demonstrated strong performance with record revenues and strategic expansions in nuclear power and medical segments. However, challenges remain with foreign exchange impacts and headwinds in the Chinese market. Overall, the company is well-positioned for continued growth with a strong backlog and strategic partnerships.Highlights
Record Fourth Quarter and Full Year Performance
Mirion Technologies reported record fourth quarter and full year 2024 performance, with revenue, adjusted EBITDA, and adjusted earnings per share reaching new highs. Adjusted EPS increased from $0.34 to $0.41 per share for the year.
Strong Nuclear Power and Nuclear Medicine Growth
Fourth quarter organic growth was driven by nuclear power (approximately 7%), nuclear medicine (21%), and dosimetry (14%). Full year nuclear power activity was up 8.5%, and nuclear medicine grew by an impressive 7.5%.
Improved Capital Structure
Mirion completed the redemption of outstanding public warrants, repriced its term credit facility, and had all three tranches of founder shares fully vested, resulting in a cleaner capital structure entering 2025.
Expansion in Strategic Partnerships
Mirion signed a strategic alliance with Siemens Healthineers and a partnership agreement with EDF, the largest operator of nuclear power plants, to become an exclusive supplier for new build projects for the next 20 years.
Positive Pipeline and Backlog
The company starts 2025 with 49% of expected revenue already in backlog, up from 46% at the start of 2024, and a healthy pipeline of new order opportunities worth $300 million to $400 million.
Lowlights
Foreign Exchange Headwinds
Despite record performance, results were impacted by sizable foreign exchange headwinds, affecting revenue growth.
Challenges in China
The radiation therapy quality assurance business faced headwinds primarily driven by a 40% decline in the Chinese market, impacting total medical revenue by approximately 210 basis points.
Limited Growth in Medical Segment
Medical segment organic revenue grew only 2.6% for the year, with challenges from the Chinese market and the purposeful exit of the lasers business.
Company Guidance
During Mirion Technologies, Inc.'s fourth quarter and full year 2024 earnings call, the company provided guidance that highlighted several key metrics and strategic initiatives. The company reported a record fourth quarter revenue of $254.3 million, reflecting a 10.4% year-over-year growth, and a full year revenue of $860.8 million, which grew 7.5% compared to 2023. Adjusted EBITDA for the quarter was $69.6 million, with an adjusted EBITDA margin of 23.7% for the year, representing a 110 basis point improvement. The adjusted earnings per share (EPS) increased from $0.34 to $0.41 for the year. Looking forward to 2025, Mirion reiterated its guidance for revenue growth between 4% and 6%, with organic growth expected between 5.5% and 7.5%. The company also aims to achieve an adjusted EBITDA margin of 24.5% to 25.5% and expects adjusted free cash flow to be between $85 million and $110 million. Mirion emphasized its strong backlog, covering approximately 49% of the expected 2025 revenue, and noted continued momentum in both nuclear power and nuclear medicine sectors.Mirion Technologies Corporate Events
Stock BuybackBusiness Operations and StrategyFinancial Disclosures
Mirion Technologies Sets Ambitious Growth and Strategic Plans
Positive
Dec 3, 2024
Mirion Technologies is poised for growth as it unveils its ambitious 2028 financial outlook and initial 2025 guidance, alongside a strategic partnership with Electronics Corporation of India Ltd to boost India’s nuclear sector. The company plans a $100 million share repurchase program to enhance shareholder value and maintain capital flexibility, while navigating opportunities in the growing nuclear and cancer care markets. Mirion’s leadership emphasizes its unique positioning to leverage market tailwinds, aiming for robust growth and operational excellence.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.