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Mirion Technologies (MIR)
NYSE:MIR
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Mirion Technologies (MIR) AI Stock Analysis

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Mirion Technologies

(NYSE:MIR)

Rating:66Neutral
Price Target:
$21.50
▲(1.03%Upside)
Mirion Technologies' overall stock score reflects strong financial performance and strategic corporate actions enhancing financial stability. However, profitability challenges and a high valuation offset the positives, while robust technical indicators suggest strong market momentum.
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.
Market Position
Favorable demand drivers and MIR’s strong position within its end markets could be durable growth drivers.
Mergers and Acquisitions
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.
Negative Factors
Market Demand
Nuclear power generation could continue to be viewed increasingly favorably, driving solid underlying demand for MIR’s commercial nuclear business.
Operational Challenges
An increased focus on operational execution and continuous improvement is contributing to ongoing margin expansion potential.
Strategic Focus
MIR Medical strategy seems to be maturing in Medical where increased focus on integrating software with hardware, continued emphasis on independent quality assurance, and greater focus on lean/value analysis and value engineering should drive continued improvements in MIR Medical’s performance.

Mirion Technologies (MIR) vs. SPDR S&P 500 ETF (SPY)

Mirion Technologies Business Overview & Revenue Model

Company DescriptionMirion Technologies (MIR) is a global leader in radiation detection, measurement, and monitoring solutions. The company operates in sectors such as nuclear power, medical, military, and homeland security, providing a range of products and services designed to ensure safety and efficiency in environments where radiation is present. Its core offerings include radiation detection and monitoring equipment, nuclear measurement devices, dosimetry services, and contamination control systems.
How the Company Makes MoneyMirion Technologies generates revenue through the sale of its diverse range of radiation detection and monitoring products and services to multiple industries, including nuclear power plants, hospitals, military, and government agencies. A significant portion of its earnings comes from product sales, which include radiation monitoring equipment and nuclear measurement devices. The company also offers services like dosimetry, where it provides personal radiation monitoring and reporting services, contributing to a steady stream of recurring revenue. Additionally, Mirion leverages strategic partnerships and contracts with government and private entities to enhance its market reach and bolster its revenue streams.

Mirion Technologies Earnings Call Summary

Earnings Call Date:Apr 29, 2025
(Q1-2025)
|
% Change Since: 36.24%|
Next Earnings Date:Aug 01, 2025
Earnings Call Sentiment Positive
Mirion Technologies demonstrated strong financial and operational performance in Q1 2025, with significant growth in revenue, orders, and adjusted EPS. The acquisition of Oncospace and the nuclear power segment's robust growth are notable positives. However, challenges remain in the medical segment and tariff impacts, particularly concerning China. Despite these challenges, the company's strategic initiatives and market opportunities position it well for future growth.
Q1-2025 Updates
Positive Updates
Strong Start to Fiscal Year 2025
Mirion Technologies reported a 6% organic revenue growth in Q1 2025, with adjusted EBITDA totaling $47 million, which is an 18.2% increase from last year. Adjusted EPS grew by 67% to $0.10 per share.
Significant Order Growth
The company experienced an 11.5% increase in orders, driven largely by nuclear power orders, marking the best first quarter performance since going public.
Acquisition of Oncospace
Mirion acquired Oncospace, a cloud-native data analytics platform, enhancing its cancer care portfolio despite the acquisition being small in initial revenue and adjusted EBITDA contribution.
Nuclear Power Segment Growth
Nuclear power revenue grew by 17.6%, supported by both the existing installed base and new builds, indicating a strong market momentum.
Positive Cash Flow and Share Repurchase
The company generated $29 million in adjusted free cash flow with a 62% conversion of adjusted EBITDA and repurchased 1.2 million shares for $18.6 million.
Negative Updates
Medical Segment Challenges
The medical segment saw a decline in orders due to timing shifts in recurring dosimetry services orders. Revenue in China decreased by approximately $2 million year-over-year.
Tariff and China Exposure
China's retaliatory tariffs pose a $7 million to $9 million headwind for 2025, particularly affecting medical segment products historically produced in the U.S. and sold into China.
Labs and Research Revenue Decline
Revenue from the labs and research business decreased by approximately 19%, partially due to high comparables from a 15% growth in the previous year.
Company Guidance
During the Mirion Technologies First Quarter 2025 Earnings Conference Call, the company reported robust financial and operational performance. Key metrics included a 6% organic revenue growth and an 18.2% increase in adjusted EBITDA to $47 million, with margins rising by 260 basis points to 23.1%. The company also achieved an 11.5% growth in first-quarter orders, largely driven by nuclear power orders, and reported an adjusted free cash flow of $29 million, with a 62% conversion of adjusted EBITDA. Additionally, Mirion repurchased 1.2 million shares for $18.6 million. The company reaffirmed its full-year 2025 guidance for organic revenue growth, adjusted EBITDA, adjusted EPS, and adjusted free cash flow, while slightly adjusting revenue growth expectations upwards to account for favorable foreign exchange rates.

Mirion Technologies Financial Statement Overview

Summary
Mirion Technologies demonstrates strong revenue growth and improved gross profit margins, along with significant debt reduction and positive cash flows. However, challenges remain in achieving consistent profitability, which tempers the score.
Income Statement
65
Positive
Mirion Technologies shows a consistent revenue growth trajectory, increasing from $322.1 million in 2021 to $870.2 million in the TTM, indicating strong market demand. Gross profit margin has improved to 50% in the TTM, suggesting effective cost management. However, the net profit margin remains negative, indicating ongoing challenges in achieving profitability. EBIT and EBITDA margins show signs of recovery, but further improvements are needed to ensure sustainable profitability.
Balance Sheet
70
Positive
The company's balance sheet displays improving financial health with a reduction in total debt from $1,698 million in 2020 to $33.6 million in the TTM. The debt-to-equity ratio has significantly improved, reflecting reduced leverage. Stockholders' equity has turned positive, indicating a stronger equity base. However, the equity ratio remains moderate, and further strengthening of the equity position is recommended.
Cash Flow
78
Positive
Mirion Technologies shows strong cash flow management with positive operating and free cash flows in the TTM. The operating cash flow to net income ratio is robust, indicating effective cash generation relative to earnings. Free cash flow has grown substantially, highlighting efficient capital expenditure management. These factors suggest good liquidity and operational efficiency.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue860.80M800.90M717.80M322.10M478.20M
Gross Profit399.70M356.40M317.20M81.10M197.00M
EBITDA174.40M114.30M-90.80M-19.20M22.88M
Net Income-36.10M-96.90M-324.80M-127.90M-1.04M
Balance Sheet
Total Assets2.64B2.72B2.74B3.12B751.32M
Cash, Cash Equivalents and Short-Term Investments181.10M134.10M77.80M84.00M383.25K
Total Debt719.90M721.00M849.60M860.60M1.70B
Total Liabilities1.08B1.17B1.27B1.33B27.59M
Stockholders Equity1.56B1.48B-408.50M1.69B723.72M
Cash Flow
Free Cash Flow50.30M58.10M5.20M-16.70M-20.85M
Operating Cash Flow99.10M95.20M39.40M900.00K-945.35K
Investing Cash Flow-43.70M-64.70M-40.80M-2.20B-75.60M
Financing Cash Flow-3.30M22.60M-7.00M1.54B751.39M

Mirion Technologies Technical Analysis

Technical Analysis Sentiment
Positive
Last Price21.28
Price Trends
50DMA
19.44
Positive
100DMA
17.03
Positive
200DMA
16.38
Positive
Market Momentum
MACD
0.46
Positive
RSI
64.66
Neutral
STOCH
85.41
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIR, the sentiment is Positive. The current price of 21.28 is above the 20-day moving average (MA) of 20.74, above the 50-day MA of 19.44, and above the 200-day MA of 16.38, indicating a bullish trend. The MACD of 0.46 indicates Positive momentum. The RSI at 64.66 is Neutral, neither overbought nor oversold. The STOCH value of 85.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (58)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
NPNPO
75
Outperform
$4.24B50.225.90%0.61%2.92%
MWMWA
74
Outperform
$3.95B27.5317.68%1.06%10.96%43.44%
74
Outperform
$4.08B23.4014.11%1.18%-1.26%-4.84%
KAKAI
68
Neutral
$3.74B33.7313.38%0.43%6.83%-1.84%
MIMIR
66
Neutral
$4.81B-0.68%7.25%87.34%
CXCXT
66
Neutral
$3.23B19.3916.23%1.21%9.28%-8.45%
58
Neutral
HK$14.16B4.53-3.01%6.82%3.67%-54.16%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
MIR
Mirion Technologies
21.73
11.16
105.58%
CXT
Crane NXT
56.45
-2.09
-3.57%
NPO
Enpro
205.79
44.83
27.85%
FELE
Franklin Electric Co
91.56
-9.90
-9.76%
KAI
Kadant
334.59
4.11
1.24%
MWA
Mueller Water Products
25.37
5.88
30.17%

Mirion Technologies Corporate Events

Private Placements and FinancingBusiness Operations and Strategy
Mirion Technologies Secures New $450 Million Loan Tranche
Positive
Jun 5, 2025

On June 5, 2025, Mirion Technologies entered into Amendment No. 5 to its Credit Agreement, introducing a new $450 million tranche of term loans maturing in 2032. This amendment allows for refinancing of existing loans and offers favorable terms such as reduced interest rates contingent on achieving certain credit ratings, alongside increased flexibility for financial operations, potentially enhancing the company’s financial stability and operational capacity.

The most recent analyst rating on (MIR) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Mirion Technologies stock, see the MIR Stock Forecast page.

Private Placements and Financing
Mirion Technologies Initiates $450M Refinancing Process
Neutral
May 29, 2025

On May 29, 2025, Mirion Technologies initiated a refinancing process involving a $450 million tranche of replacement term loans. These loans are expected to mature in 2032 and will be used to refinance existing term loans under a previous credit agreement. The refinancing is anticipated to close in the second quarter of 2025, although its completion is subject to certain conditions.

The most recent analyst rating on (MIR) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Mirion Technologies stock, see the MIR Stock Forecast page.

Private Placements and FinancingStock BuybackBusiness Operations and Strategy
Mirion Technologies Completes $400M Convertible Notes Offering
Positive
May 23, 2025

On May 23, 2025, Mirion Technologies completed a private offering of $400 million in 0.25% Convertible Senior Notes due 2030, which was increased from the initially planned $300 million. The proceeds will be used for capped call transactions, repaying term loans, repurchasing shares, and general corporate purposes. The notes are convertible under specific conditions and include capped call transactions to mitigate potential stock dilution. This strategic financial move aims to strengthen Mirion’s capital structure and enhance its market positioning.

The most recent analyst rating on (MIR) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Mirion Technologies stock, see the MIR Stock Forecast page.

Private Placements and FinancingStock Buyback
Mirion Technologies Announces $300M Convertible Notes Offering
Neutral
May 20, 2025

On May 20, 2025, Mirion Technologies announced its plan to offer $300 million in Convertible Senior Notes due 2030 in a private placement to qualified institutional buyers. The proceeds from this offering will be used to refinance existing loans, repurchase shares, and for general corporate purposes, potentially impacting the company’s market positioning by providing greater financial flexibility.

The most recent analyst rating on (MIR) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Mirion Technologies stock, see the MIR Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Mirion Technologies Elects Directors at Annual Meeting
Neutral
May 16, 2025

On May 15, 2025, Mirion Technologies held its 2025 Annual Meeting of Stockholders where eight directors were elected to the Board for a one-year term. Additionally, the stockholders ratified Deloitte & Touche, LLP as the independent public accounting firm for the fiscal year ending December 31, 2025, and approved the 2024 compensation for the company’s executive officers.

The most recent analyst rating on (MIR) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Mirion Technologies stock, see the MIR Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

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.Date of analysis: Jun 06, 2025