Recent News
On February 11, 2026 Mirion announced three senior appointments including a new Chief Nuclear Officer, a President for Nuclear Medicine, and the firm’s first Chief Artificial Intelligence & Digital Officer. On March 12, 2026 Mirion confirmed selection as an official partner for World Engineering Day 2026. Independent coverage on February 13 noted analyst target revisions and differing analyst commentary in the wake of recent company announcements.
Technical Analysis
ADX at 34.71 indicates a strong trend in place; that strength supports the expectation of continued directional pressure in the near term and therefore weighs against rapid mean reversion absent a catalyst.
DI+ at 12.3, decreasing, signals loss of positive directional momentum; DI- at 29.06 shows a dip & reversal, which aligns with increasing negative directional pressure and favors downside continuation relative to the current valuation.
MACD sits at -0.84 with a peak & reversal pattern and remains below its signal line (-0.76), signalling bearish momentum and reducing near-term probability of trend acceleration to the upside without fresh bullish news.
MRO equals -5.18 (negative) and trending lower, indicating price sits below model target and therefore carries potential for a corrective increase; this creates a technical tension versus other bearish momentum indicators and implies the risk of a mean-reversion bounce rather than an immediate sustained rally.
RSI at 41.94 and decreasing shows momentum below neutral and not yet oversold by classical thresholds, although price trades beneath short-, medium- and long-term averages (20‑day 21.20, 50‑day 23.49, 200‑day 22.97) and below the lower Bollinger bands (lower 1x = 20.18, lower 2x = 19.15), which suggests price sits in an extended weakness zone that could provoke a technical rebound toward the mean.
Price action sits below the 12‑day EMA (price12dayEMA trend decreasing) and volume (8,141,666) currently exceeds short- and medium-term averages, indicating active trading interest that could amplify directional moves relative to WMDST’s valuation view.
Fundamental Analysis
Revenue totaled $223.1M with YoY revenue growth of -162.07% and QoQ change of -99.13% (provided). Gross profit reached $104.5M, yielding a gross margin of 46.84% (up 4.27% YoY and up 1.86% QoQ). Operating income sits at $7.4M with an operating margin of 3.317%, a QoQ decline of 25.31% and YoY increase of 523.50%.
EBIT equals $10.10M producing an EBIT margin of 4.53%; that margin improved YoY by 750.94% but contracted QoQ by 48.52%. The EBIT margin compares below the industry peer mean of 15.128% and below the industry peer median of 19.512%, indicating operating profitability sits beneath typical peer levels despite the year-over-year lift.
Net income equals $2.90M and EPS actual $0.15 versus an estimate of $0.16, producing an EPS surprise ratio of -6.25%. Forward EPS equals $0.1775 and forward PE equals 136.44x; the reported trailing PE stands at 2,264.51x, reflecting a mismatch between current earnings and market capitalization metrics.
Balance-sheet and cash metrics remain defensive: cash $933.2M and cash & short-term investments $939.7M produce a cash ratio of 327.42% and current ratio of 483.14% (current ratio QoQ +89.85%). Operating cash flow reached $22.3M, with free cash flow of $13.0M and a free cash flow yield of 0.23% (free cash flow yield YoY +61.27%).
Leverage measures warrant attention: total debt $1.2328B with net debt $265.2M and debt/EBITDA of 27.40, while interest coverage equals 1.13 (interest coverage YoY +1,354.72%). Debt-to-assets equals 35.27% (up QoQ), and debt-to-equity equals 66.95%. High debt/EBITDA and low interest coverage increase sensitivity to earnings pressure and constrain upside relative to the current valuation.
Key efficiency metrics: asset turnover 7.158% (below the industry peer mean of 16.567%) and cash conversion cycle 134.07 days (near the industry peer mean of 131.54 days). Return on equity sits at 0.157% (QoQ decline of 72.36%), indicating limited near-term capital returns despite recent margin improvements.
Valuation summary: WMDST values the stock as over-valued. The fundamental profile combines solid cash resources and strong gross margins with low earnings, elevated leverage relative to EBITDA, and multiples that outpace forward earnings expectations—supporting the WMDST over-valued determination.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2026-02-10 |
| NEXT REPORT DATE: | 2026-05-12 |
| 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 | $ 856.0 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 | $ 0.16 | |
| EPS Actual | $ 0.15 | |
| EPS Difference | $ -0.01 | |
| EPS Surprise | -6.25 % | |
| Forward EPS | $ 0.18 | |
| 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 | 250.750 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: 185.353 MIR: 132.544 median: 76.114 mean: 72.692 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: 0.243 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: 2.204 MIR: 0.67 mean: 0.408 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: 3.914 MIR: 3.08 low: -8.81 |
|
| 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: 95.026 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: 176.909 MIR: 25.421 mean: 22.217 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: 1.485 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: 0.765 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: 131.535 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: 13.125 MIR: 4.831 mean: 2.112 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: 1.571 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: 26.672 median: 19.017 MIR: 1.135 low: -401.025 |
|
| 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: 2.004 % 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: 10.221 % 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: 56.367 % median: 55.361 % MIR: 46.84 % low: -37.943 % |
|
| EBIT Margin | 4.527 % | |
| EBIT Margin QoQ | -48.516 % | |
| EBIT Margin YoY | 750.94 % | |
| EBIT Margin IPRWA | high: 38.373 % median: 19.512 % mean: 15.128 % MIR: 4.527 % low: -908.773 % |
|
| 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: 14.189 % MIR: 3.317 % low: -971.016 % |
|
| 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: 0.812 % 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: 17.324 % low: -266.667 % |
|
| 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: 1.849 % 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: -1.516 |
|
| 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: 3.204 % median: 2.609 % MIR: 0.262 % low: -26.281 % |
|