MILLER INDUSTRIES INC/TENN (MLR) Stock Fundamental Analysis
NYSE:MLR - New York Stock Exchange, Inc. - US6005512040 - Common Stock - Currency: USD
MLR gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 129 industry peers in the Machinery industry. MLR has only an average score on both its financial health and profitability. An interesting combination arises when we look at growth and value: MLR is growing strongly while it also seems undervalued. These ratings would make MLR suitable for value and growth investing!
1. Profitability
1.1 Basic Checks
In the past year MLR was profitable.
MLR had a positive operating cash flow in the past year.
MLR had positive earnings in each of the past 5 years.
Of the past 5 years MLR 4 years had a positive operating cash flow.
1.2 Ratios
MLR's Return On Assets of 9.22% is fine compared to the rest of the industry. MLR outperforms 76.80% of its industry peers.
MLR's Return On Equity of 17.63% is fine compared to the rest of the industry. MLR outperforms 76.80% of its industry peers.
With an excellent Return On Invested Capital value of 15.81%, MLR belongs to the best of the industry, outperforming 88.00% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for MLR is in line with the industry average of 11.00%.
The last Return On Invested Capital (15.81%) for MLR is above the 3 year average (9.42%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.22% | ||
| ROE | 17.63% | ||
| ROIC | 15.81% |
ROA(3y)5.59%
ROA(5y)6.85%
ROE(3y)9.8%
ROE(5y)11.02%
ROIC(3y)9.42%
ROIC(5y)10.91%
1.3 Margins
MLR has a Profit Margin (5.23%) which is in line with its industry peers.
In the last couple of years the Profit Margin of MLR has remained more or less at the same level.
MLR has a Operating Margin (6.98%) which is in line with its industry peers.
In the last couple of years the Operating Margin of MLR has grown nicely.
MLR has a worse Gross Margin (13.21%) than 87.20% of its industry peers.
In the last couple of years the Gross Margin of MLR has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.98% | ||
| PM (TTM) | 5.23% | ||
| GM | 13.21% |
OM growth 3Y4.84%
OM growth 5Y2.06%
PM growth 3Y3.37%
PM growth 5Y1.31%
GM growth 3Y3.03%
GM growth 5Y2.38%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), MLR is creating some value.
MLR has more shares outstanding than it did 1 year ago.
MLR has more shares outstanding than it did 5 years ago.
MLR has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 4.29 indicates that MLR is not in any danger for bankruptcy at the moment.
With a decent Altman-Z score value of 4.29, MLR is doing good in the industry, outperforming 68.80% of the companies in the same industry.
The Debt to FCF ratio of MLR is 3.44, which is a good value as it means it would take MLR, 3.44 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 3.44, MLR is doing good in the industry, outperforming 63.20% of the companies in the same industry.
A Debt/Equity ratio of 0.16 indicates that MLR is not too dependend on debt financing.
MLR has a Debt to Equity ratio of 0.16. This is in the better half of the industry: MLR outperforms 72.80% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.44 | ||
| Altman-Z | 4.29 |
ROIC/WACC1.43
WACC11.06%
2.3 Liquidity
A Current Ratio of 2.12 indicates that MLR has no problem at all paying its short term obligations.
MLR has a Current ratio (2.12) which is comparable to the rest of the industry.
A Quick Ratio of 1.46 indicates that MLR should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.46, MLR is in the better half of the industry, outperforming 60.80% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.12 | ||
| Quick Ratio | 1.46 |
3. Growth
3.1 Past
MLR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 36.12%, which is quite impressive.
Measured over the past years, MLR shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.42% on average per year.
The Revenue has grown by 22.97% in the past year. This is a very strong growth!
Measured over the past years, MLR shows a quite strong growth in Revenue. The Revenue has been growing by 10.14% on average per year.
EPS 1Y (TTM)36.12%
EPS 3Y24.58%
EPS 5Y11.42%
EPS Q2Q%-12.5%
Revenue 1Y (TTM)22.97%
Revenue growth 3Y20.98%
Revenue growth 5Y10.14%
Sales Q2Q%14.46%
3.2 Future
MLR is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.75% yearly.
MLR is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.78% yearly.
EPS Next Y14.94%
EPS Next 2Y11.05%
EPS Next 3Y12.75%
EPS Next 5YN/A
Revenue Next Year16.1%
Revenue Next 2Y11.31%
Revenue Next 3Y9.78%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 9.97, which indicates a very decent valuation of MLR.
MLR's Price/Earnings ratio is rather cheap when compared to the industry. MLR is cheaper than 90.40% of the companies in the same industry.
When comparing the Price/Earnings ratio of MLR to the average of the S&P500 Index (29.63), we can say MLR is valued rather cheaply.
MLR is valuated reasonably with a Price/Forward Earnings ratio of 9.61.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MLR indicates a rather cheap valuation: MLR is cheaper than 93.60% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of MLR to the average of the S&P500 Index (22.68), we can say MLR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.97 | ||
| Fwd PE | 9.61 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, MLR is valued cheaper than 88.00% of the companies in the same industry.
MLR's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 36.4 | ||
| EV/EBITDA | 6.64 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
MLR has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as MLR's earnings are expected to grow with 12.75% in the coming years.
PEG (NY)0.67
PEG (5Y)0.87
EPS Next 2Y11.05%
EPS Next 3Y12.75%
5. Dividend
5.1 Amount
MLR has a Yearly Dividend Yield of 1.25%.
MLR's Dividend Yield is a higher than the industry average which is at 1.65.
With a Dividend Yield of 1.25, MLR pays less dividend than the S&P500 average, which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.25% |
5.2 History
The dividend of MLR has a limited annual growth rate of 0.08%.
MLR has paid a dividend for at least 10 years, which is a reliable track record.
MLR has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)0.08%
Div Incr Years1
Div Non Decr Years14
5.3 Sustainability
MLR pays out 12.37% of its income as dividend. This is a sustainable payout ratio.
MLR's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP12.37%
EPS Next 2Y11.05%
EPS Next 3Y12.75%
60.11
-0.79 (-1.3%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)
Earnings (Next)
Inst Owners93.96%
Inst Owner Change-84.87%
Ins Owners3.96%
Ins Owner Change0%
Market Cap687.66M
Analysts76.67
Price Target79.56 (32.36%)
Short Float %8.38%
Short Ratio11.45
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.25% |
Yearly Dividend0.72
Dividend Growth(5Y)0.08%
DP12.37%
Div Incr Years1
Div Non Decr Years14
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0.26%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.22%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.97 | ||
| Fwd PE | 9.61 | ||
| P/S | 0.52 | ||
| P/FCF | 36.4 | ||
| P/OCF | 19.46 | ||
| P/B | 1.74 | ||
| P/tB | 1.83 | ||
| EV/EBITDA | 6.64 |
EPS(TTM)6.03
EY10.03%
EPS(NY)6.25
Fwd EY10.4%
FCF(TTM)1.65
FCFY2.75%
OCF(TTM)3.09
OCFY5.14%
SpS116.42
BVpS34.54
TBVpS32.8
PEG (NY)0.67
PEG (5Y)0.87
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.22% | ||
| ROE | 17.63% | ||
| ROCE | 20.01% | ||
| ROIC | 15.81% | ||
| ROICexc | 17.32% | ||
| ROICexgc | 18.18% | ||
| OM | 6.98% | ||
| PM (TTM) | 5.23% | ||
| GM | 13.21% | ||
| FCFM | 1.42% |
ROA(3y)5.59%
ROA(5y)6.85%
ROE(3y)9.8%
ROE(5y)11.02%
ROIC(3y)9.42%
ROIC(5y)10.91%
ROICexc(3y)10.61%
ROICexc(5y)12.49%
ROICexgc(3y)11.14%
ROICexgc(5y)13.13%
ROCE(3y)11.93%
ROCE(5y)13.82%
ROICexcg growth 3Y7.15%
ROICexcg growth 5Y0.41%
ROICexc growth 3Y7.08%
ROICexc growth 5Y0.42%
OM growth 3Y4.84%
OM growth 5Y2.06%
PM growth 3Y3.37%
PM growth 5Y1.31%
GM growth 3Y3.03%
GM growth 5Y2.38%
F-Score5
Asset Turnover1.76
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 3.44 | ||
| Debt/EBITDA | 0.61 | ||
| Cap/Depr | 115.88% | ||
| Cap/Sales | 1.24% | ||
| Interest Coverage | 9.57 | ||
| Cash Conversion | 32.98% | ||
| Profit Quality | 27.12% | ||
| Current Ratio | 2.12 | ||
| Quick Ratio | 1.46 | ||
| Altman-Z | 4.29 |
F-Score5
WACC11.06%
ROIC/WACC1.43
Cap/Depr(3y)140.1%
Cap/Depr(5y)158.62%
Cap/Sales(3y)1.91%
Cap/Sales(5y)2.11%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)36.12%
EPS 3Y24.58%
EPS 5Y11.42%
EPS Q2Q%-12.5%
EPS Next Y14.94%
EPS Next 2Y11.05%
EPS Next 3Y12.75%
EPS Next 5YN/A
Revenue 1Y (TTM)22.97%
Revenue growth 3Y20.98%
Revenue growth 5Y10.14%
Sales Q2Q%14.46%
Revenue Next Year16.1%
Revenue Next 2Y11.31%
Revenue Next 3Y9.78%
Revenue Next 5YN/A
EBIT growth 1Y34.95%
EBIT growth 3Y26.84%
EBIT growth 5Y12.4%
EBIT Next Year34%
EBIT Next 3Y16.61%
EBIT Next 5YN/A
FCF growth 1Y137.94%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y251.23%
OCF growth 3Y-43.48%
OCF growth 5Y-12.92%