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Miller Industries, Inc., together with its subsidiaries, manufactures and sells towing and recovery equipment. It provides wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment. The company also offers transport trailers for moving multiple vehicles for auto auctions, car dealerships, leasing companies, and other similar operations. It markets its products under the Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface, Omars, Titan, and Eagle brand names. The company sells its products through independent distributors in North America, and Canada, Mexico; and through prime contractors to governmental entities. Miller Industries, Inc. was founded in 1990 and is headquartered in Ooltewah, Tennessee.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $790M | $47M | $23M | $85M | 5.5% | -37.2% | -63.8% |
| 2024 | $1.3B | $98M | $63M | $2M | 15.8% | 9.0% | 8.9% |
| 2023 | $1.2B | $93M | $58M | $-1M | 16.8% | 35.9% | 186.5% |
| 2022 | $848M | $41M | $20M | $-48M | 6.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 848.46 | 1,153.35 | 1,257.50 | 790.27 |
| Operating Revenue | - | 848.46 | 1,153.35 | 1,257.50 | 790.27 |
| Cost Of Revenue | - | 766.04 | 1,001.50 | 1,086.70 | 669.88 |
| Gross Profit | - | 82.42 | 151.85 | 170.80 | 120.39 |
| Operating Expense | - | 52.83 | 73.09 | 86.32 | 88.98 |
| Selling General And Administration | - | 52.83 | 73.09 | 86.32 | 88.98 |
| Total Expenses | - | 818.86 | 1,074.59 | 1,173.02 | 758.86 |
| Operating Income | - | 29.59 | 78.77 | 84.48 | 31.41 |
| EBITDA | - | 40.87 | 93 | 98.13 | 46.84 |
| Normalized EBITDA | - | 40.87 | 93 | 98.13 | 46.84 |
| EBIT | - | 29.11 | 79.76 | 84.06 | 32.15 |
| Interest Expense | - | 3.38 | 5.97 | 3.93 | 0.66 |
| Net Interest Income | - | -3.38 | -5.97 | -3.93 | -0.66 |
| Other Non Operating Income Expenses | - | -0.48 | 0.99 | -0.42 | 0.74 |
| Other Income Expense | - | -0.48 | 0.99 | -0.42 | 0.74 |
| Interest Expense Non Operating | - | 3.38 | 5.97 | 3.93 | 0.66 |
| Net Non Operating Interest Income Expense | - | -3.38 | -5.97 | -3.93 | -0.66 |
| Pretax Income | - | 25.73 | 73.78 | 80.13 | 31.49 |
| Tax Provision | - | 5.39 | 15.49 | 16.64 | 8.48 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Net Income From Continuing And Discontinued Operation | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Net Income From Continuing Operation Net Minority Interest | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Net Income | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Net Income Common Stockholders | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Net Income Including Noncontrolling Interests | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Normalized Income | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Diluted NI Availto Com Stockholders | - | 20.35 | 58.29 | 63.49 | 23.01 |
| Basic Average Shares | - | 11.42 | 11.44 | 11.45 | 11.45 |
| Diluted Average Shares | - | 11.42 | 11.51 | 11.60 | 11.62 |
| Reconciled Depreciation | - | 11.76 | 13.24 | 14.07 | 14.68 |
| Reconciled Cost Of Revenue | - | 766.04 | 1,001.50 | 1,086.70 | 669.88 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Miller Industries, Inc.this co. | MLR | $553M | 24.04↑ premium | 1.32 | 5.5% | 11.57 |
| Ranpak Holdings Corp. | PACK | $589M | -15.37 | 1.10 | -7.2% | 17.86 |
| Karat Packaging Inc. | KRT | $561M | 17.83 | 3.68 | 20.6% | 11.43 |
| Legacy Housing Corporation | LEGH | $557M | 13.33 | 1.05 | 7.9% | 10.31 |
| Kura Sushi USA, Inc. | KRUS | $556M |
| - |
| - |
| - |
| - |
| - |
| - |
| 2.41 |
| -0.8% |
| 53.56 |
| Cooper-Standard Holdings Inc. | CPS | $548M | -131.68 | -6.57 | 5.0% | 8.19 |
| MasterCraft Boat Holdings, Inc. | MCFT | $542M | 76.93 | 2.95 | 3.8% | 21.07 |
| Malibu Boats, Inc. | MBUU | $532M | 35.72 | 1.03 | 2.9% | 8.48 |
| Ethan Allen Interiors Inc. | ETD | $529M | 10.25 | 1.10 | 10.7% | 6.81 |
| Peer Median | - | 13.33 | 1.10 | 4.4% | 10.87 | |