Mirion’s stock price has taken a beating over the past six months, shedding 20.3% of its value and falling to $18.93 per share. This might have investors contemplating their next move.
Following the drawdown, is this a buying opportunity for MIR? Find out in our full research report, it’s free.
Why Are We Positive on MIR?
With its technology protecting workers in over 130 countries and equipment used in 80% of cancer centers worldwide, Mirion Technologies (NYSE: MIR) provides radiation detection, measurement, and monitoring solutions for medical, nuclear energy, defense, and scientific research applications.
1. Skyrocketing Revenue Shows Strong Momentum
A company’s long-term sales performance can indicate its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Luckily, Mirion’s sales grew at an impressive 10.8% compounded annual growth rate over the last five years. Its growth surpassed the average business services company and shows its offerings resonate with customers.
2. Adjusted Operating Margin Rising, Profits Up
Adjusted operating margin is a key measure of profitability. Think of it as net income (the bottom line) excluding the impact of non-recurring expenses, taxes, and interest on debt - metrics less connected to business fundamentals.
Mirion’s adjusted operating margin rose by 10.5 percentage points over the last five years, as its sales growth gave it immense operating leverage. Its adjusted operating margin for the trailing 12 months was 7.9%.
3. Increasing Free Cash Flow Margin Juices Financials
Free cash flow isn’t a prominently featured metric in company financials and earnings releases, but we think it’s telling because it accounts for all operating and capital expenses, making it tough to manipulate. Cash is king.
As you can see below, Mirion’s margin expanded by 8.7 percentage points over the last five years. This is encouraging because it gives the company more optionality. Mirion’s free cash flow margin for the trailing 12 months was 9.1%.
Final Judgment
These are just a few reasons why we think Mirion is a great business. After the recent drawdown, the stock trades at 33× forward P/E (or $18.93 per share). Is now the right time to buy? See for yourself in our comprehensive research report, it’s free.
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