Miller Industries Inc (MLR)

Truck & Bus Bodies

Latest Price

$51.46

TTM P/E

41.50

Normalized P/E

16.07

TTM Div Yield

1.59%

Fwd Div Yield

1.63%

Book Value

36.86

P/B Ratio

1.40

Valuation metrics

EPS: $1.98

Book value / share: $36.98

Formula: √(22.5 × EPS × BVPS)

Graham Number

$40.59

21% downside

Norm. op. income: $39M (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$28.27

45% downside

Base FCF: $6M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$41.24

20% downside

EPS: $1.98

Target P/E: 16×

Formula: EPS × P/E

P/E Fair Value

$31.68

38% downside

92.7% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
FMR LLC	1.33M	$67.0M	11.69%	+339	2026-06-30
Neuberger Berman Group LLC	1.13M	$57.0M	9.95%	+37.1K	2026-06-30
BlackRock, Inc.	1.03M	$52.0M	9.07%	+221.6K	2026-06-30
Dimensional Fund Advisors LP	692.7K	$35.0M	6.10%	+3.2K	2026-06-30
Hotchkis & Wiley Capital Management LLC	518.7K	$26.0M	4.57%	-2.3K	2026-06-30
Vanguard Capital Management LLC	488.1K	$24.0M	4.30%	-8.3K	2026-06-30
Systematic Financial Management LP	461.0K	$23.0M	4.06%	+14.7K	2026-06-30
American Century Companies Inc	309.5K	$15.0M	2.73%	+234.8K	2026-06-30
Goldman Sachs Group Inc	305.0K	$15.0M	2.69%	-8.8K	2026-06-30
First Wilshire Securities Management Inc	295.9K	$15.0M	2.61%	-3.1K	2026-06-30