Miller Industries, Inc. (MLR) Stock

Miller Industries, Inc. (MLR) is a Consumer Discretionary stock trading at $56.11 (as of 2026-08-20), with a market capitalization of $639.41M and a trailing P/E of 31.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Miller Industries, Inc. manufactures and sells towing and recovery equipment, including wreckers and car carriers with hydraulic tilt mechanisms, as well as transport trailers used to move vehicles for uses such as auto auctions and car dealerships. It sells products through independent distributors and via prime contractors to governmental entities.

Understand Miller Industries, Inc.: how it makes money

Miller Industries makes and sells towing and recovery equipment, car carriers, and related transport trailers, generating revenue primarily from product sales to customers in the vehicle recovery and vehicle transport ecosystem.

The profit model is tied to equipment demand cycles, because near-term results are likely to move with retail sales activity and distributor order intake for the company’s towing and recovery and vehicle carrier products.

Revenue by segment (latest quarter)
Net Sales	$0.2B

Business quality (Weak): Latest results show relatively tight profitability (gross margin 14.2%, operating margin 0.9%) alongside a small scale revenue base (about $0.2B in the period provided).

Valuation: At 37× earnings, MLR trades 86% above the Automobiles & Trucks average (20×). Note: one-time items can distort reported P/E.

Bull case

Products serve recurring end markets: Its towing and recovery equipment (wreckers), car carriers, and transport trailers are used to recover and tow disabled vehicles and to transport new or disabled vehicles and other equipment.
Demand signals can help forecast sales momentum: Changes in distributor order intake and quarter over quarter retail sales activity are explicitly tracked operating indicators that can provide early read-through to product sales.

Bear case

Cyclical demand pressure: The provided operating KPIs are currently negative (Order Intake Decrease From Distributors of 30%, Quarter Over Quarter Retail Sales Activity Decrease of 20%), which can indicate weaker demand entering the next production and sales period.
Thin operating cushion: Operating margin is low (0.9%), so cost pressures or demand shortfalls could have an outsized impact on profitability.

Valuation — source: SEC EDGAR (first-party)
Price	$56.11
Market Cap	$639.41M
P/E Ratio	31.7
EV / EBITDA	14.1
Price / Book	1.53
Price / Sales	0.80
FCF Yield	13.3%
DCF Value (model)	$19.78
DCF Upside vs Price	-64.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$790.27M
Net Margin	2.9%
Revenue Growth (YoY)	-37.2%
EPS Growth (YoY)	-63.8%
FCF Growth (YoY)	5500.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	5.04 (safe)
Piotroski F-Score	7/9 (strong)

Valuation vs Sector & Industry
Stock P/E	31.7
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Automobiles & Trucks)	17.2
vs Sector	54.9%
vs Industry	84.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	FMR LLC ($60.45M)
Institutional Holders Tracked	10

Company
Sector	Consumer Discretionary
Industry	Automobiles & Trucks
CEO	William G. Miller
Employees	1,690
Country	US
IPO Date	1994-08-02

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.