Miller Industries Inc (MLR) - Net Assets
Based on the latest financial reports, Miller Industries Inc (MLR) has net assets worth $420.65 Million USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($604.34 Million) and total liabilities ($183.69 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore Miller Industries Inc balance sheet assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $420.65 Million |
| % of Total Assets | 69.61% |
| Annual Growth Rate | 6.38% |
| 5-Year Change | 41.98% |
| 10-Year Change | 130.66% |
| Growth Volatility | 28.24 |
Miller Industries Inc - Net Assets Trend (1994–2024)
This chart illustrates how Miller Industries Inc's net assets have evolved over time, based on quarterly financial data. Check MLR tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Miller Industries Inc (1994–2024)
The table below shows the annual net assets of Miller Industries Inc from 1994 to 2024. For live valuation and market cap data, see MLR stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $401.03 Million | +15.27% |
| 2023-12-31 | $347.92 Million | +18.56% |
| 2022-12-31 | $293.46 Million | +3.11% |
| 2021-12-31 | $284.62 Million | +0.77% |
| 2020-12-31 | $282.45 Million | +9.51% |
| 2019-12-31 | $257.93 Million | +13.34% |
| 2018-12-31 | $227.56 Million | +12.04% |
| 2017-12-31 | $203.10 Million | +10.02% |
| 2016-12-31 | $184.60 Million | +6.18% |
| 2015-12-31 | $173.86 Million | +3.21% |
| 2014-12-31 | $168.45 Million | +4.17% |
| 2013-12-31 | $161.71 Million | +2.68% |
| 2012-12-31 | $157.49 Million | +3.17% |
| 2011-12-31 | $152.65 Million | +1.38% |
| 2010-12-31 | $150.57 Million | +6.45% |
| 2009-12-31 | $141.44 Million | +7.17% |
| 2008-12-31 | $131.97 Million | -0.39% |
| 2007-12-31 | $132.49 Million | +16.85% |
| 2006-12-31 | $113.38 Million | +75.10% |
| 2005-12-31 | $64.75 Million | +38.41% |
| 2004-12-31 | $46.78 Million | +67.11% |
| 2003-12-31 | $28.00 Million | -29.47% |
| 2002-12-31 | $39.70 Million | -53.21% |
| 2001-12-31 | $84.84 Million | -25.46% |
| 2000-12-31 | $113.82 Million | -39.23% |
| 1999-12-31 | $187.30 Million | -2.90% |
| 1998-12-31 | $192.90 Million | +13.01% |
| 1997-12-31 | $170.70 Million | +56.32% |
| 1996-12-31 | $109.20 Million | +67.74% |
| 1995-12-31 | $65.10 Million | +3.83% |
| 1994-12-31 | $62.70 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Miller Industries Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 3254.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $254.94 Million | 63.57% |
| Common Stock | $114.00K | 0.03% |
| Other Comprehensive Income | $-7.73 Million | -1.93% |
| Other Components | $153.70 Million | 38.33% |
| Total Equity | $401.03 Million | 100.00% |
Miller Industries Inc Competitors by Market Cap
The table below lists competitors of Miller Industries Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
China Sanjiang Fine Chemicals Company Limited
F:8C9
|
$453.66 Million |
|
Winner Information Technology Co Inc
SHE:300609
|
$453.83 Million |
|
Infomedia Ltd
AU:IFM
|
$453.85 Million |
|
Varex Imaging Corp
NASDAQ:VREX
|
$453.92 Million |
|
YTL Hospitality REIT
KLSE:5109
|
$453.59 Million |
|
AS Tallink Grupp
HE:TALLINK
|
$453.58 Million |
|
Axiomtek Co Ltd
TWO:3088
|
$453.55 Million |
|
Wuhan Xingtu Xinke Electronics Co Ltd
SHG:688081
|
$453.55 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Miller Industries Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 347,920,000 to 401,030,000, a change of 53,110,000 (15.3%).
- Net income of 63,494,000 contributed positively to equity growth.
- Dividend payments of 8,721,000 reduced retained earnings.
- Share repurchases of 2,898,000 reduced equity.
- Other comprehensive income decreased equity by 1,793,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $63.49 Million | +15.83% |
| Dividends Paid | $8.72 Million | -2.17% |
| Share Repurchases | $2.90 Million | -0.72% |
| Other Comprehensive Income | $-1.79 Million | -0.45% |
| Other Changes | $3.03 Million | +0.76% |
| Total Change | $- | 15.27% |
Book Value vs Market Value Analysis
This analysis compares Miller Industries Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.47x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.20x to 1.47x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $12.10 | $50.83 | x |
| 1995-12-31 | $10.33 | $50.83 | x |
| 1996-12-31 | $17.33 | $50.83 | x |
| 1997-12-31 | $20.60 | $50.83 | x |
| 1998-12-31 | $20.51 | $50.83 | x |
| 1999-12-31 | $19.81 | $50.83 | x |
| 2000-12-31 | $12.19 | $50.83 | x |
| 2001-12-31 | $9.08 | $50.83 | x |
| 2002-12-31 | $4.25 | $50.83 | x |
| 2003-12-31 | $2.98 | $50.83 | x |
| 2004-12-31 | $4.26 | $50.83 | x |
| 2005-12-31 | $5.64 | $50.83 | x |
| 2006-12-31 | $9.78 | $50.83 | x |
| 2007-12-31 | $11.37 | $50.83 | x |
| 2008-12-31 | $11.32 | $50.83 | x |
| 2009-12-31 | $11.88 | $50.83 | x |
| 2010-12-31 | $12.38 | $50.83 | x |
| 2011-12-31 | $12.74 | $50.83 | x |
| 2012-12-31 | $13.99 | $50.83 | x |
| 2013-12-31 | $14.33 | $50.83 | x |
| 2014-12-31 | $14.84 | $50.83 | x |
| 2015-12-31 | $15.30 | $50.83 | x |
| 2016-12-31 | $16.23 | $50.83 | x |
| 2017-12-31 | $17.84 | $50.83 | x |
| 2018-12-31 | $19.97 | $50.83 | x |
| 2019-12-31 | $22.63 | $50.83 | x |
| 2020-12-31 | $24.77 | $50.83 | x |
| 2021-12-31 | $24.94 | $50.83 | x |
| 2022-12-31 | $25.70 | $50.83 | x |
| 2023-12-31 | $30.24 | $50.83 | x |
| 2024-12-31 | $34.57 | $50.83 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Miller Industries Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 15.83%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.05%
- • Asset Turnover: 1.89x
- • Equity Multiplier: 1.66x
- Recent ROE (15.83%) is above the historical average (2.16%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 9.09% | 6.02% | 1.00x | 1.51x | $-570.00K |
| 1995 | 11.98% | 6.21% | 1.27x | 1.53x | $1.29 Million |
| 1996 | 7.14% | 6.21% | 0.79x | 1.46x | $-3.12 Million |
| 1997 | 8.49% | 4.96% | 0.97x | 1.77x | $-2.57 Million |
| 1998 | 6.58% | 3.20% | 1.01x | 2.04x | $-6.59 Million |
| 1999 | 1.17% | 0.42% | 1.34x | 2.10x | $-16.53 Million |
| 2000 | -64.26% | -12.58% | 1.80x | 2.84x | $-84.53 Million |
| 2001 | -7.58% | -1.30% | 1.96x | 2.98x | $-14.92 Million |
| 2002 | -115.11% | -22.50% | 1.25x | 4.09x | $-49.66 Million |
| 2003 | -50.55% | -6.87% | 1.56x | 4.71x | $-16.95 Million |
| 2004 | 11.70% | 2.32% | 1.85x | 2.73x | $796.50K |
| 2005 | 28.70% | 5.28% | 2.43x | 2.23x | $12.11 Million |
| 2006 | 39.99% | 11.07% | 2.07x | 1.74x | $34.00 Million |
| 2007 | 12.33% | 4.08% | 2.12x | 1.43x | $3.08 Million |
| 2008 | 2.72% | 1.32% | 1.55x | 1.32x | $-9.61 Million |
| 2009 | 4.25% | 2.53% | 1.38x | 1.22x | $-8.13 Million |
| 2010 | 7.78% | 3.81% | 1.54x | 1.33x | $-3.35 Million |
| 2011 | 15.07% | 5.58% | 1.95x | 1.39x | $7.74 Million |
| 2012 | 5.79% | 2.66% | 1.69x | 1.28x | $-6.63 Million |
| 2013 | 5.69% | 2.28% | 1.78x | 1.40x | $-6.99 Million |
| 2014 | 8.85% | 3.02% | 1.88x | 1.56x | $-1.94 Million |
| 2015 | 9.19% | 2.95% | 2.00x | 1.56x | $-1.41 Million |
| 2016 | 10.79% | 3.31% | 2.02x | 1.61x | $1.46 Million |
| 2017 | 11.33% | 3.74% | 1.94x | 1.56x | $2.71 Million |
| 2018 | 14.83% | 4.74% | 1.93x | 1.62x | $10.99 Million |
| 2019 | 15.16% | 4.78% | 2.09x | 1.52x | $13.32 Million |
| 2020 | 10.56% | 4.58% | 1.63x | 1.41x | $1.58 Million |
| 2021 | 5.71% | 2.27% | 1.64x | 1.54x | $-12.21 Million |
| 2022 | 6.93% | 2.40% | 1.69x | 1.71x | $-9.00 Million |
| 2023 | 16.75% | 5.05% | 1.78x | 1.86x | $23.50 Million |
| 2024 | 15.83% | 5.05% | 1.89x | 1.66x | $23.39 Million |
Industry Comparison
This section compares Miller Industries Inc's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $1,657,865,700
- Average return on equity (ROE) among peers: 16.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Miller Industries Inc (MLR) | $420.65 Million | 9.09% | 0.44x | $453.63 Million |
| Advance Auto Parts Inc (AAP) | $1.08 Billion | 22.14% | 1.76x | $3.59 Billion |
| Adient PLC (ADNT) | $5.80 Billion | 8.19% | 0.80x | $1.57 Billion |
| Allison Transmission Holdings Inc (ALSN) | $741.70 Million | 3.99% | 6.16x | $9.78 Billion |
| Autoliv Inc (ALV) | $1.94 Billion | 10.30% | 0.88x | $9.22 Billion |
| Aptiv PLC (APTV) | $2.83 Billion | 38.06% | 2.60x | $9.95 Billion |
| Atmus Filtration Technologies Inc. (ATMU) | $455.60 Million | 37.40% | 0.90x | $4.42 Billion |
| American Axle & Manufacturing (AXL) | $1.54 Billion | 21.89% | 4.12x | $1.36 Billion |
| AutoZone Inc (AZO) | $-1.80 Billion | 0.00% | 0.00x | $50.52 Billion |
| BorgWarner Inc (BWA) | $3.69 Billion | 17.77% | 0.96x | $13.70 Billion |
| China Automotive Systems Inc (CAAS) | $304.83 Million | 0.78% | 1.27x | $131.24 Million |
About Miller Industries Inc
Miller Industries, Inc., together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment. It also provides transpo… Read more