Mirion Technologies (MIR)
NYSE:MIR
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Mirion Technologies
(NYSE:MIR)
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Rating:61Neutral
Price Target:
$19.50
▼(-1.12% Downside)
Action:ReiteratedDate:04/29/26
The score is supported primarily by improving fundamentals and a strong, upbeat earnings call featuring accelerating orders/backlog and reaffirmed guidance. These positives are tempered by bearish technicals (price below key moving averages, negative MACD) and weak valuation usefulness (negative P/E and no dividend), along with cash conversion and recent free cash flow softness.
Positive Factors
Strong order growth and backlog
Sustained, large order inflows and a $1.1B backlog provide multi-quarter revenue visibility and support production planning. Durable order momentum in nuclear, SMR and Medical end markets underpins predictable near-term revenue and creates a base for aftermarket and services growth.
Negative Factors
Near-term M&A margin dilution
Recent acquisitions materially boost scale but have diluted consolidated margins in the near term. Integration and realization of targeted low‑20s EBITDA margins at Paragon will take time; lingering dilution could slow consolidated margin improvement and delay hitting long-term profitability targets.
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Positive Factors
Negative Factors
Strong order growth and backlog
Sustained, large order inflows and a $1.1B backlog provide multi-quarter revenue visibility and support production planning. Durable order momentum in nuclear, SMR and Medical end markets underpins predictable near-term revenue and creates a base for aftermarket and services growth.
Read all positive factors
Mirion Technologies (MIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.95B
Dividend YieldN/A
Average Volume (3M)3.48M
Price to Earnings (P/E)―
Beta (1Y)1.55
Revenue Growth12.73%
EPS GrowthN/A
CountryUS
Employees2,800
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)0.10
Shares Outstanding244,655,720
10 Day Avg. Volume2,940,719
30 Day Avg. Volume3,480,390
Financial Highlights & Ratios
PEG Ratio-1.09
Price to Book (P/B)2.89
Price to Sales (P/S)5.82
P/FCF Ratio50.38
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue5.05
Enterprise Value/Gross Profit10.73
Enterprise Value/Ebitda24.60
Forecast
1Y Price Target
$27.71Price Target Upside40.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.55
Revenue Forecast (FY)$1.14B
Mirion Technologies Business Overview & Revenue Model
Company Description
Mirion Technologies, Inc. provides radiation detection, measurement, analysis, and monitoring products and services in the United States, Canada, the United Kingdom, France, Germany, Finland, China, Belgium, Netherlands, Estonia, and Japan. It ope...
How the Company Makes Money
Mirion makes money primarily by selling radiation detection, measurement, and monitoring products and by providing ongoing services tied to those products. Key revenue streams generally include: (1) Product sales of hardware and integrated systems...
Mirion Technologies Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum driven by large order growth, a materially expanded backlog, robust contributions from the Paragon and CertRec acquisitions, and sustained improvement in core end markets (notably nuclear power, SMRs, and Medical RTQA). Financial performance showed healthy revenue (+28%) and adjusted EBITDA (+16%) growth, with management maintaining full-year guidance and forecasting stronger sequential orders. Near-term headwinds were primarily margin dilution from recent M&A, seasonal and timing-related cash flow weakness, and some regional/new-build softness in Asia, but these were framed as manageable and addressable through integration synergies, operational improvements, and expected cash conversion later in the year. Overall, positive operational and market developments materially outweigh the transitory challenges described.Positive Updates
Nuclear Power and SMR Momentum
Nuclear & Safety revenue was $186M, up 39% year-over-year. Nuclear power orders (excluding M&A) grew 15% in Q1 and nuclear power revenue (excluding M&A) increased 4% despite a tough comp; SMR orders booked ~ $15M in Q1 and a $35M SMR award in April. SMR-related revenue represents ~2% of total revenue and is expected to exceed 3% by year-end.
Negative Updates
Quarterly Margin Contraction
Adjusted EBITDA margins contracted in Q1 despite EBITDA growth; management attributed the contraction to margin-dilutive M&A, one-time items in the prior-year quarter, and mix shifts (notably sensing business and North America mix). Half of the contraction was M&A-related.
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Q1-2026 Updates
Positive
Negative
Nuclear Power and SMR Momentum
Nuclear & Safety revenue was $186M, up 39% year-over-year. Nuclear power orders (excluding M&A) grew 15% in Q1 and nuclear power revenue (excluding M&A) increased 4% despite a tough comp; SMR orders booked ~ $15M in Q1 and a $35M SMR award in April. SMR-related revenue represents ~2% of total revenue and is expected to exceed 3% by year-end.
Read all positive updates
Company Guidance
Management reiterated unchanged 2026 guidance (with a small adjusted‑EPS tweak for a CEO retention grant) and highlighted strong Q1 metrics: revenue $258M (+28% YoY; organic +3%), orders $241M excl. M&A (+19%) and $288M incl. M&A (Paragon/CertRec ≈ $47M), backlog $1.1B (+19% excl. M&A; +38% incl.), adjusted EBITDA $54M (+16%), adjusted EPS $0.10 (versus a pro forma $0.08 last year), adjusted free cash flow $11M, and $16M of share repurchases (~700k shares); SMR orders were ~$15M in Q1 plus an additional $35M awarded in April. For Q2 management expects orders to increase sequentially 15%–20%, consolidated organic revenue growth in the low single digits, relatively flat consolidated adjusted EBITDA margins vs. Q2 2025 (Nuclear & Safety margins flat overall but would expand excluding Paragon), Paragon revenue still expected to grow ≈25% for the year with low‑20s EBITDA margins, SMR revenue to rise from ~2% of company revenue toward >3% by year‑end, and they remain on track for full‑year adjusted free cash flow guidance and the longer‑term 30% EBITDA ambition by 2028.Mirion Technologies Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 981.00M | 925.40M | 860.80M | 800.90M | 717.80M | 668.30M |
| Gross Profit | 461.60M | 438.60M | 401.80M | 356.50M | 317.20M | 284.20M |
| EBITDA | 201.30M | 212.90M | 179.00M | 149.00M | 104.30M | 92.60M |
| Net Income | 25.10M | 28.80M | -36.10M | -96.90M | -276.90M | -222.50M |
Balance Sheet | ||||||
| Total Assets | 3.54B | 3.59B | 2.64B | 2.72B | 2.74B | 3.12B |
| Cash, Cash Equivalents and Short-Term Investments | 397.90M | 412.30M | 181.10M | 134.10M | 77.80M | 88.90M |
| Total Debt | 1.23B | 1.26B | 719.90M | 721.00M | 849.60M | 860.60M |
| Total Liabilities | 1.65B | 1.67B | 1.08B | 1.17B | 1.27B | 1.33B |
| Stockholders Equity | 1.84B | 1.87B | 1.51B | 1.48B | 1.40B | 1.69B |
Cash Flow | ||||||
| Free Cash Flow | 89.70M | 106.90M | 50.30M | 58.10M | 5.20M | -16.70M |
| Operating Cash Flow | 127.10M | 143.30M | 99.10M | 95.20M | 39.40M | 900.00K |
| Investing Cash Flow | -696.20M | -694.60M | -43.70M | -64.70M | -39.50M | -2.20B |
| Financing Cash Flow | 776.70M | 775.90M | -3.30M | 22.60M | -7.00M | 1.54B |
Mirion Technologies Technical Analysis
Neutral
19.72
Price Trends
20.40
Negative
22.71
Negative
22.84
Negative
Market Momentum
-0.22
Negative
50.80
Neutral
52.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIR, the sentiment is Neutral. The current price of 19.72 is above the 20-day moving average (MA) of 19.00, below the 50-day MA of 20.40, and below the 200-day MA of 22.84, indicating a neutral trend. The MACD of -0.22 indicates Negative momentum. The RSI at 50.80 is Neutral, neither overbought nor oversold. The STOCH value of 52.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MIR.
Mirion Technologies Risk Analysis
Mirion Technologies disclosed 47 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $4.36B | 21.55 | 21.00% | 1.09% | 5.94% | 45.38% | |
67 Neutral | $3.46B | 33.07 | 10.90% | 0.46% | -0.11% | -8.89% | |
66 Neutral | $4.80B | 118.57 | 11.59% | 0.26% | 16.95% | -10.01% | |
65 Neutral | $9.41B | 28.68 | 15.93% | 1.17% | 0.83% | 26.77% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $4.95B | -334.43 | 1.43% | ― | 12.73% | ― |
* Industrials Sector Average
MIR
Mirion Technologies
19.63
3.68
23.07%
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287.15
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Mirion Technologies Corporate Events
Executive/Board Changes
Mirion Grants CEO Large Performance-Based Stock Option Award
Positive
Apr 13, 2026
On April 9, 2026, Mirion Technologies’ board approved a one-time grant of 2.5 million performance-vesting stock options to founder, chairman and CEO Thomas Logan, structured to vest over three- and four-year performance periods based on rela...
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.