Recent News
On December 1, 2025 Mirion completed its acquisition of Paragon Energy Solutions, integrating Paragon into the Nuclear & Safety group and highlighting expanded engineering capabilities for large-scale reactors and SMRs. On January 22, 2026 the company announced it will release fourth-quarter and full-year 2025 results after market close on February 10, 2026 and host a conference call on February 11, 2026.
Technical Analysis
Directional indicators show an emerging trend strength: ADX at 21.44 signals an emerging trend while DI+ at 25.00 with a peak & reversal indicates a bearish directional shift and DI- at 16.99 with a dip & reversal reinforces bearish pressure; together they bias near-term price direction lower relative to recent averages.
MACD sits at 0.34 versus a 0.33 signal line, a narrow positive spread, but the MACD trend reads peak & reversal, which signals bearish momentum despite the marginal cross; momentum deterioration increases the likelihood of price underperformance against the current valuation.
MRO registers 19.54 with a peak & reversal; the positive MRO implies price sits above model target and the peak & reversal signals a pullback potential that aligns with the bearish MACD signal.
RSI at 52.06 with a peak & reversal indicates momentum has rolled off a short-term high and leaves the indicator in neutral territory but biased toward loss of upward conviction, consistent with the price trading below the 20-day average.
Price sits at $25.37 below the 20-day average of $26.01, above the 50-day average of $24.89 and well above the 200-day average of $21.95; the 12-day EMA shows a peak & reversal while the Ichimoku cloud places SenkouA at $25.48 and SenkouB at $26.27, leaving price near the lower edge of short-term cloud resistance. These conditions point to short-term resistance near the 20-day band with support clustered around the 50-day average and the super-trend lower at $24.69.
Bollinger bands place the 1x lower band at $25.01 and the 1x upper band at $27.01; price trade nearer the lower band, increasing the probability of a mean-reversion down move rather than a sustained breakout. Volume at 1,213,473 sits below the 10-, 50- and 200-day averages, suggesting lower conviction behind recent moves and a weaker technical backdrop for a durable rally. Elevated short-term volatility — 42-day beta 2.54 — amplifies downside risk for swing horizons.
Fundamental Analysis
Profitability shows mixed signals. Gross margin stands at 46.84%, while operating margin equals return on sales at 3.317% and EBIT margin at 4.53%. EBIT margin of 4.53% sits below the industry peer mean of 15.35% and below the industry peer median of 19.51%, indicating a margin gap versus peers. QoQ, EBIT margin declined by 48.52%; YoY the reported figure shows a 750.94% increase, reflecting a large year-over-year swing in margin dynamics.
Income statement scale: total revenue $223.1M, gross profit $104.5M, EBITDA $45.0M, EBIT $10.1M and net income $2.9M. GAAP EPS came in at $0.01 versus an estimate of $0.02, producing an EPS surprise of -50%, which reduces near-term earnings confidence ahead of the upcoming report.
Cash generation and liquidity present clear strengths. Cash and short-term investments total $939.7M and operating cash flow reached $22.3M with end-period cash flow at $933.6M. The current ratio of 4.83 and quick ratio of 4.32 indicate abundant short-term liquidity; cash ratio equals 3.27. Free cash flow is $13.0M with a free cash flow yield of 0.23%, below the industry peer mean free cash flow yield of 0.84%.
Leverage and coverage reflect elevated leverage relative to cash flow: total debt $1,232.8M, net debt $265.2M, debt to EBITDA 27.40x, and interest coverage at 1.13x. Debt-to-equity sits at 0.67. The high debt-to-EBITDA multiple and modest interest coverage create sensitivity to margin compression despite the ample cash balance.
Growth metrics appear uneven. Reported revenue growth reads near flat at 0.09%, with revenue growth QoQ showing -99.13% and revenue growth YoY at -162.07% per the supplied figures; earnings growth shows a -66.67% move with a small QoQ decline and a YoY improvement stated as 233.34% in the data. Asset growth stands at 27.69% and asset turnover remains low at 7.16%, indicating capital intensity in the business model.
Valuation shows notable dispersion across multiples. The trailing P/E sits at 2,264.51x and the forward P/E at 136.44x, both well above the industry peer mean forward P/E of 91.75x; the enterprise multiple equals 132.54x versus an industry peer mean of 73.60x. Price-to-sales at 25.42x exceeds the industry peer mean of 22.10x, while price-to-book at 3.08x sits slightly below the industry peer mean of 3.92x. Given elevated EV/revenue and P/E measures alongside muted free-cash return, WMDST values the stock as over-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-28 |
| NEXT REPORT DATE: | 2026-01-27 |
| CASH FLOW | Begin Period Cash Flow | $ 263.0 M |
| Operating Cash Flow | $ 22.3 M | |
| Capital Expenditures | $ -9.30 M | |
| Change In Working Capital | $ -20.10 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 670.6 M | |
| End Period Cash Flow | $ 933.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 223.1 M | |
| Forward Revenue | $ 734.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 118.6 M | |
| Depreciation | $ 34.9 M | |
| Depreciation and Amortization | $ 34.9 M | |
| Research and Development | $ 10.1 M | |
| Total Operating Expenses | $ 215.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 104.5 M | |
| EBITDA | $ 45.0 M | |
| EBIT | $ 10.1 M | |
| Operating Income | $ 7.4 M | |
| Interest Income | $ 2.2 M | |
| Interest Expense | $ 8.9 M | |
| Net Interest Income | $ -6.70 M | |
| Income Before Tax | $ 1.2 M | |
| Tax Provision | $ -1.90 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 2.9 M | |
| Net Income From Continuing Operations | $ 3.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.02 | |
| EPS Actual | $ 0.01 | |
| EPS Difference | $ -0.01 | |
| EPS Surprise | -50.0 % | |
| Forward EPS | $ 0.15 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.5 B | |
| Intangible Assets | $ 1.9 B | |
| Net Tangible Assets | $ -65.80 M | |
| Total Current Assets | $ 1.4 B | |
| Cash and Short-Term Investments | $ 939.7 M | |
| Cash | $ 933.2 M | |
| Net Receivables | $ 150.0 M | |
| Inventory | $ 146.0 M | |
| Long-Term Investments | $ 16.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 49.4 M | |
| Short-Term Debt | $ 1.6 M | |
| Total Current Liabilities | $ 287.0 M | |
| Net Debt | $ 265.2 M | |
| Total Debt | $ 1.2 B | |
| Total Liabilities | $ 1.6 B | |
| EQUITY | ||
| Total Equity | $ 1.8 B | |
| Retained Earnings | $ -530.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 7.35 | |
| Shares Outstanding | 250.445 M | |
| Revenue Per-Share | $ 0.89 | |
| VALUATION | Market Capitalization | $ 5.7 B |
| Enterprise Value | $ 6.0 B | |
| Enterprise Multiple | 132.544 | |
| Enterprise Multiple QoQ | 35.978 % | |
| Enterprise Multiple YoY | 101.738 % | |
| Enterprise Multiple IPRWA | high: 259.301 MIR: 132.544 median: 76.114 mean: 73.6 low: -109.976 |
|
| EV/R | 26.734 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.899 | |
| Asset To Liability | 2.18 | |
| Debt To Capital | 0.401 | |
| Debt To Assets | 0.353 | |
| Debt To Assets QoQ | 11.605 % | |
| Debt To Assets YoY | 153226.087 % | |
| Debt To Assets IPRWA | high: 1.311 MIR: 0.353 mean: 0.24 median: 0.153 low: 0.002 |
|
| Debt To Equity | 0.67 | |
| Debt To Equity QoQ | 13.173 % | |
| Debt To Equity YoY | 167282.5 % | |
| Debt To Equity IPRWA | high: 1.942 MIR: 0.67 mean: 0.399 median: 0.223 low: -1.277 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.08 | |
| Price To Book QoQ | -2.272 % | |
| Price To Book YoY | 70.318 % | |
| Price To Book IPRWA | high: 15.33 median: 4.517 mean: 3.925 MIR: 3.08 low: -5.671 |
|
| Price To Earnings (P/E) | 2264.512 | |
| Price To Earnings QoQ | 244.539 % | |
| Price To Earnings YoY | 1431.821 % | |
| Price To Earnings IPRWA | MIR: 2264.512 high: 259.394 median: 101.806 mean: 96.555 low: -207.228 |
|
| PE/G Ratio | -33.968 | |
| Price To Sales (P/S) | 25.421 | |
| Price To Sales QoQ | 22.946 % | |
| Price To Sales YoY | 91.385 % | |
| Price To Sales IPRWA | high: 156.539 MIR: 25.421 mean: 22.105 median: 20.242 low: 0.307 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 136.437 | |
| Forward PE/G | -2.047 | |
| Forward P/S | 7.479 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -540.191 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.072 | |
| Asset Turnover Ratio QoQ | -13.884 % | |
| Asset Turnover Ratio YoY | -8.606 % | |
| Asset Turnover Ratio IPRWA | high: 0.52 mean: 0.166 median: 0.135 MIR: 0.072 low: 0.0 |
|
| Receivables Turnover | 1.527 | |
| Receivables Turnover Ratio QoQ | -0.664 % | |
| Receivables Turnover Ratio YoY | 7.697 % | |
| Receivables Turnover Ratio IPRWA | high: 3.929 MIR: 1.527 mean: 1.489 median: 1.39 low: 0.148 |
|
| Inventory Turnover | 0.815 | |
| Inventory Turnover Ratio QoQ | -2.341 % | |
| Inventory Turnover Ratio YoY | 8.132 % | |
| Inventory Turnover Ratio IPRWA | high: 2.783 MIR: 0.815 mean: 0.766 median: 0.737 low: 0.001 |
|
| Days Sales Outstanding (DSO) | 59.756 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 134.067 | |
| Cash Conversion Cycle Days QoQ | -5.438 % | |
| Cash Conversion Cycle Days YoY | -8.355 % | |
| Cash Conversion Cycle Days IPRWA | high: 605.436 MIR: 134.067 mean: 131.656 median: 113.839 low: -371.003 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.203 | |
| CapEx To Revenue | -0.042 | |
| CapEx To Depreciation | -0.266 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 3.0 B | |
| Net Invested Capital | $ 3.0 B | |
| Invested Capital | $ 3.0 B | |
| Net Tangible Assets | $ -65.80 M | |
| Net Working Capital | $ 1.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 3.274 | |
| Current Ratio | 4.831 | |
| Current Ratio QoQ | 89.853 % | |
| Current Ratio YoY | 123.312 % | |
| Current Ratio IPRWA | high: 10.746 MIR: 4.831 mean: 2.11 median: 1.703 low: 0.117 |
|
| Quick Ratio | 4.323 | |
| Quick Ratio QoQ | 114.832 % | |
| Quick Ratio YoY | 178.191 % | |
| Quick Ratio IPRWA | high: 7.703 MIR: 4.323 mean: 1.568 median: 1.243 low: 0.377 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 27.396 | |
| Cost Of Debt | 0.67 % | |
| Interest Coverage Ratio | 1.135 | |
| Interest Coverage Ratio QoQ | -31.679 % | |
| Interest Coverage Ratio YoY | 1354.724 % | |
| Interest Coverage Ratio IPRWA | high: 340.0 mean: 26.978 median: 19.017 MIR: 1.135 low: -547.125 |
|
| Operating Cash Flow Ratio | 0.115 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 36.0 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 27.686 % | |
| Revenue Growth | 0.09 % | |
| Revenue Growth QoQ | -99.13 % | |
| Revenue Growth YoY | -162.069 % | |
| Revenue Growth IPRWA | high: 54.24 % median: 2.034 % mean: 1.941 % MIR: 0.09 % low: -45.858 % |
|
| Earnings Growth | -66.667 % | |
| Earnings Growth QoQ | -4.761 % | |
| Earnings Growth YoY | 233.335 % | |
| Earnings Growth IPRWA | high: 157.143 % mean: 11.006 % median: 3.175 % MIR: -66.667 % low: -100.918 % |
|
| MARGINS | ||
| Gross Margin | 46.84 % | |
| Gross Margin QoQ | 1.859 % | |
| Gross Margin YoY | 4.267 % | |
| Gross Margin IPRWA | high: 94.309 % mean: 56.833 % median: 55.361 % MIR: 46.84 % low: 10.166 % |
|
| EBIT Margin | 4.527 % | |
| EBIT Margin QoQ | -48.516 % | |
| EBIT Margin YoY | 750.94 % | |
| EBIT Margin IPRWA | high: 34.657 % median: 19.512 % mean: 15.352 % MIR: 4.527 % low: -1203.008 % |
|
| Return On Sales (ROS) | 3.317 % | |
| Return On Sales QoQ | -25.31 % | |
| Return On Sales YoY | 523.496 % | |
| Return On Sales IPRWA | high: 34.618 % median: 17.673 % mean: 14.532 % MIR: 3.317 % low: -1203.008 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 13.0 M | |
| Free Cash Flow Yield | 0.229 % | |
| Free Cash Flow Yield QoQ | 193.59 % | |
| Free Cash Flow Yield YoY | 61.268 % | |
| Free Cash Flow Yield IPRWA | high: 9.514 % median: 0.995 % mean: 0.84 % MIR: 0.229 % low: -42.542 % |
|
| Free Cash Growth | 261.111 % | |
| Free Cash Growth QoQ | -401.111 % | |
| Free Cash Growth YoY | -5452.829 % | |
| Free Cash Growth IPRWA | MIR: 261.111 % high: 195.075 % median: 43.065 % mean: 17.956 % low: -191.429 % |
|
| Free Cash To Net Income | 4.483 | |
| Cash Flow Margin | 14.747 % | |
| Cash Flow To Earnings | 11.345 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.093 % | |
| Return On Assets QoQ | -70.0 % | |
| Return On Assets YoY | -118.058 % | |
| Return On Assets IPRWA | high: 8.176 % mean: 1.878 % median: 1.844 % MIR: 0.093 % low: -70.984 % |
|
| Return On Capital Employed (ROCE) | 0.315 % | |
| Return On Equity (ROE) | 0.002 | |
| Return On Equity QoQ | -72.359 % | |
| Return On Equity YoY | -117.542 % | |
| Return On Equity IPRWA | high: 0.969 median: 0.029 MIR: 0.002 mean: 0.001 low: -1.234 |
|
| DuPont ROE | 0.176 % | |
| Return On Invested Capital (ROIC) | 0.262 % | |
| Return On Invested Capital QoQ | -61.185 % | |
| Return On Invested Capital YoY | -141.786 % | |
| Return On Invested Capital IPRWA | high: 18.508 % mean: 3.229 % median: 2.609 % MIR: 0.262 % low: -26.281 % |
|