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Mirion Technologies

MIR on NYSE. Mirion sells radiation detection and monitoring products to nuclear, medical and research customers. Market value $4.8bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Industrials stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
3.1%fair

For every $100 of what the whole company costs, it produced $3.15 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
78.5×full

You pay 78.5 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
0.1%five-year median

Each dollar kept in the business earns 0 cents a year. Above 10 is good.

Quality score: 60 of 100. Price score: 20 of 100. Our list needs 70 on quality and 60 on price.

$16.27 a share, 16% above its 1-year low

Over the past year the price has ranged from $14.04 to $30.28.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
0.1
0.1
0.1
0.1
2021202220232024202512 monthsto Jun '26
Revenue
n/a$718m$801m$861m$925m
Operating margin
n/a-41.5%-2.7%2.9%5.6%
Debt to equity
0.480.580.460.460.24
Shares outstanding
0.02bn0.18bn0.02bn0.20bn0.26bn

Health checks

  • Free cash flow positive3 of 3 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)7 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.24× equity
  • Revenue growth, five yearsSlow, 8.8% a year
  • Buying back its own sharesNo, 1293% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $267 million last quarter, up 20% on a year ago.
  • Profit: $8 million, about the same as a year ago.
  • It keeps 5 cents of each $1 of sales as operating profit, about the same as a year earlier.
  • Spare cash over the past 12 months: $134 million, up from $84 million.
  • 13% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $27 million more than cash, down from $182 million a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$207m
December 2024$254m
March 2025$202m
June 2025$223m
September 2025$223m
December 2025$277m
March 2026$258m
June 2026$267m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$14m
December 2024$15m
March 2025$300,000
June 2025$8m
September 2025$3m
December 2025$17m
March 2026-$3m
June 2026$8m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
19 February 2026
Next quarterly (estimated, 10-Q)
28 October 2026

Who owns it

4 long-term investors we follow own it, down from 5 last quarter. 351 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

  • BlackRock, Inc.
    Passive investor
    14.8%
    Since 30 September 2025
  • 7.4%
    Since 31 March 2026
  • 6.1%
    Since 31 December 2025
  • 5.0%
    Since 31 March 2026
  • at least 2.3%
    (filed with 2 related holders)
    Since 17 December 2024
    What they said

    Item 4 is hereby amended by the addition of the following: On December 17, 2024, the vesting conditions were satisfied in respect of the last of three tranches of the Founder Shares of Class A Common Stock previously reported in the Initial Filing. In connection with such…

    Read the filing
  • Kuwait Investment Authority, acting for and on behalf of the Government of the State of Kuwait (KIA)
    Passive investor
    Sold down below 5%
    Since 29 July 2022
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $312,000 of shares on the open market. 5 sold $20m.

  • Schopfer Brian
    Chief Financial Officer
    Bought
    Date
    2 September 2026
    Shares
    20,000
    Price
    $15.60
    Value
    $312,000
  • Moore Christopher A.
    Chief Accounting Officer (PAO)
    Sold
    Date
    7 May 2026
    Shares
    8,400
    Price
    $19.64
    Value
    $164,976
  • Kingsley Lawrence D
    Director
    Sold
    Date
    10 December 2025
    Shares
    350,000
    Price
    $24.73
    Value
    $9m
  • Kingsley Lawrence D
    Director
    Sold
    Date
    21 November 2025
    Shares
    300,000
    Price
    $23.83
    Value
    $7m
  • Eloy Loic
    Nuclear & Safety President
    Sold
    Date
    11 November 2025
    Shares
    45,000
    Price
    $27.24
    Value
    $1m
  • Lee Emmanuelle
    Chief Legal Officer
    Sold
    Date
    10 November 2025
    Shares
    12,500
    Price
    $27.41
    Value
    $342,625
  • Schopfer Brian
    Chief Financial Officer
    Sold
    Date
    6 November 2025
    Shares
    100,000
    Price
    $27.66
    Value
    $3m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Feb 2026, plus the 10-Q filed 29 Jul 2026 and 6 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 78.5× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.