Latest Ratios: P/E Ratio 146.0x · EV/EBITDA 25.2x · ROE 1.7%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.9B | $6.1B | $3.6B | $2.0B | $1.2B | $2.2B | $1.6B | — | — |
| Enterprise Value | $4.8B | $7.0B | $4.1B | $2.6B | $2.0B | $3.0B | $3.2B | — | — |
| P/E Ratio → | 146.00 | 212.91 | — | — | — | — | — | — | — |
| P/S Ratio | 4.24 | 6.61 | 4.16 | 2.51 | 1.67 | 3.26 | — | — | — |
| P/B Ratio | 2.19 | 3.19 | 2.29 | 1.30 | 0.82 | 1.22 | — | — | — |
| P/FCF | 36.72 | 57.21 | 71.12 | 34.64 | 230.27 | — | 80.55 | — | — |
| P/OCF | 27.39 | 42.68 | 36.10 | 21.14 | 30.39 | 2420.71 | 39.97 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.53 | 4.79 | 3.25 | 2.75 | 4.42 | — | — | — |
| EV / EBITDA | 25.19 | 36.75 | 23.53 | 18.49 | — | 67.94 | — | — | — |
| EV / EBIT | 92.68 | 92.98 | 144.12 | — | — | — | — | — | — |
| EV / FCF | — | 65.15 | 81.94 | 44.84 | 379.52 | — | 161.14 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.4% | 47.4% | 46.7% | 44.5% | 44.2% | 42.5% | — | 42.8% | 37.9% |
| Operating Margin | 5.6% | 5.6% | 2.9% | -2.7% | -41.5% | -10.3% | — | 6.5% | -1.1% |
| Net Profit Margin | 3.1% | 3.1% | -4.2% | -12.1% | -38.6% | -33.3% | — | -27.7% | -23.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.7% | 1.7% | -2.3% | -6.4% | -17.0% | -41.7% | — | -2690484.1% | -2204038.3% |
| ROA | 0.9% | 0.9% | -1.3% | -3.6% | -9.5% | -10.2% | -7.3% | -2440000.0% | -2074000.0% |
| ROIC | 1.6% | 1.6% | 0.9% | -0.7% | -9.3% | -3.0% | -0.4% | — | — |
| ROCE | 1.8% | 1.8% | 1.0% | -0.9% | -11.0% | -3.5% | -0.5% | 635130.7% | -99893.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.66 | 0.66 | 0.46 | 0.47 | 0.58 | 0.48 | — | — | — |
| Debt / EBITDA | 6.65 | 6.65 | 4.11 | 5.12 | — | 19.78 | — | — | — |
| Net Debt / Equity | — | 0.44 | 0.35 | 0.38 | 0.53 | 0.44 | — | -1.15 | -1.06 |
| Net Debt / EBITDA | 4.48 | 4.48 | 3.11 | 4.20 | — | 17.85 | — | -0.00 | -0.00 |
| Debt / FCF | — | 7.93 | 10.83 | 10.19 | 149.25 | — | 80.59 | — | -0.00 |
| Interest Coverage | 1.77 | 1.77 | 0.49 | -0.22 | -1.65 | -0.33 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.84 | 2.84 | 2.26 | 2.03 | 1.97 | 2.05 | 2.12 | 7.86 | 16.95 |
| Quick Ratio | 2.36 | 2.36 | 1.75 | 1.48 | 1.38 | 1.49 | 1.63 | 7.86 | 16.95 |
| Cash Ratio | 1.30 | 1.30 | 0.69 | 0.50 | 0.32 | 0.40 | 0.65 | 7.86 | 16.95 |
| Asset Turnover | — | 0.26 | 0.33 | 0.29 | 0.26 | 0.21 | — | 88020.00 | 88820.00 |
| Inventory Turnover | 3.20 | 3.20 | 3.45 | 3.08 | 2.80 | 3.11 | — | — | — |
| Days Sales Outstanding | — | 110.52 | 103.76 | 105.00 | 114.72 | 119.99 | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 0.5% | — | — | — | — | — | — | — |
| FCF Yield | 2.7% | 1.7% | 1.4% | 2.9% | 0.4% | — | 1.2% | — | — |
| Buyback Yield | 1.3% | 0.8% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.3% | 0.8% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $261M | $205M | $196M | $181M | $208M | $145M | $20M | $95M |
Acquisition-driven margin dilution
Based on current market data, Mirion trades at a forward P/E of 34.28, which suggests that investors are pricing in significant future earnings expansion that currently remains disconnected from the company's historical GAAP net income volatility and thin operating margins observed in recent quarterly filings.
The valuation premium relative to the broader industrial sector implies a market expectation that the company will successfully transition from an acquisition-heavy model to one of organic margin expansion. Investors should monitor whether the forward earnings growth can justify these multiples, as the current P/FCF of 42.18 indicates that the market is paying a high price for cash flows that are currently lumpy and inconsistent.
As reported in financial statements, Mirion's ROIC has struggled to consistently exceed 1% over the last ten quarters, a trend that indicates the company is currently failing to generate meaningful returns on its invested capital despite its dominant position in niche radiation safety markets.
The persistent low ROIC suggests that the heavy investment in intangible assets and acquisition-related integration costs is currently suppressing the efficiency of capital deployment. Unless management can demonstrate an ability to drive higher returns from the existing asset base, the current capital allocation strategy may continue to dilute shareholder value rather than compound it.
According to recent SEC filings, the company's cash conversion cycle remains elevated at 158 days in 2026Q1, a figure that highlights significant inefficiencies in inventory management and receivables collection that continue to act as a drag on the firm's overall operational cash flow generation.
The high DSO and DIO metrics suggest that Mirion is carrying substantial working capital relative to its revenue, which may be a byproduct of the long lead times inherent in nuclear instrumentation projects. This inefficiency warrants further investigation, as a reduction in the cash conversion cycle would be a primary lever for improving the company's free cash flow profile.
Based on reported figures, Mirion maintains a debt-to-equity ratio of 0.65 as of 2026Q1, which indicates a relatively conservative leverage profile that provides the company with significant financial flexibility to navigate potential industry downturns or fund future strategic initiatives without immediate refinancing pressure.
While the low leverage is a positive indicator of balance sheet health, the thin interest coverage ratio suggests that the company's ability to service debt remains sensitive to operating margin fluctuations. Investors should monitor whether this low leverage is a permanent feature of the capital structure or a temporary result of recent equity-based financing activities.
The market's reliance on Adjusted EBITDA as a primary valuation metric for Mirion obscures the significant impact of acquisition-related amortization and stock-based compensation, which consistently bridge the gap between reported GAAP losses and the company's narrative of operational profitability and cash-generative potential.
Investors should prioritize free cash flow and organic revenue growth over Adjusted EBITDA, as the latter frequently masks the true cost of the company's aggressive inorganic growth strategy. Relying on EBITDA in this context risks overestimating the company's underlying earning power and underestimating the long-term burden of its intangible asset base.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying MIR stock.
Mirion Technologies, Inc.'s current P/E ratio is 146.0x. This places it at the 50th percentile of its historical range.
Mirion Technologies, Inc.'s current EV/EBITDA is 25.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 36.7x.
Mirion Technologies, Inc.'s return on equity (ROE) is 1.7%. The historical average is -13.2%.
Based on historical data, Mirion Technologies, Inc. is trading at a P/E of 146.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mirion Technologies, Inc. has 47.4% gross margin and 5.6% operating margin.
Mirion Technologies, Inc.'s Debt/EBITDA ratio is 6.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.