Mirion Technologies, Inc. (MIR) intrinsic value & 10-year financials

Mirion Technologies, Inc. (MIR) has a Graham intrinsic value of $3.31 per share. At $15.15 on Oct 17, 2026, the stock trades 358% above that value. Over the last 9 fiscal years revenue grew 13.2% a year to $925.4M, with an average return on invested capital of -8.7%.

Graham intrinsic value
$3.31
Share price (Oct 17, 2026)
$15.15
Price vs Graham value
358% above
Market cap
$4.0B
Revenue (FY2025)
$925.4M
Revenue growth (9-yr CAGR)
13.2%
ROIC (10-yr avg)
-8.7%
Free cash flow (FY2025)
$106.9M

MIR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $925.4M $28.8M $0.11 $106.9M 5.6% 2.4%
FY2024 $860.8M -$36.1M -$0.18 $50.3M 2.9% 1.2%
FY2023 $800.9M -$96.9M -$0.49 $58.1M -2.7% -1.0%
FY2022 $717.8M -$276.9M -$1.53 $5.2M -41.5% -26.4%
FY2021 $611.6M -$158.3M -$0.86 $30.4M 1.8% -12.2%
FY2020 $478.2M -$119.1M -$0.66 $19.6M 4.8% -17.4%
FY2019 $440.1M -$122.0M -$0.69 -$1.8M 6.5% -9.5%
FY2018 — -$295 — — — -6.3%
FY2017 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Mirion Technologies, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Mirion Technologies, Inc. has historically struggled to out-earn its cost of capital, averaging just -8.7% ROIC.

Mirion Technologies, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Mirion Technologies, Inc. is modeled at 13.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.31 per share.

MIR stock: frequently asked questions

What is the intrinsic value of Mirion Technologies, Inc. (MIR) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 13.2% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, MIR's intrinsic value is about $3.31 per share.

Is MIR stock undervalued?

At $15.15 (close on Oct 17, 2026), MIR trades 358% above its Graham value of $3.31. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

Does Mirion Technologies, Inc. generate free cash flow?

Mirion Technologies, Inc. generated $106.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 6 of the last 7 reported years.

What is MIR's return on invested capital?

Average ROIC over the last 9 fiscal years was -8.7%, and average return on equity was -4.1%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this MIR data come from?

From Mirion Technologies, Inc.'s annual 10-K filings on SEC EDGAR. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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