What is Miller Industries's net debt?

Miller Industries (MLR) reported net debt of -$27.98M in Q1 2026.

How has Miller Industries's net debt changed year-over-year?

Miller Industries's net debt decreased by 158.1% year-over-year, from $48.14M to -$27.98M.

What is the long-term trend for Miller Industries's net debt?

Over 5 years (2020 to 2025), Miller Industries's net debt has grown at a -27.6% compound annual growth rate (CAGR), from -$55.99M to -$11.11M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Miller Industries MLR Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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1.1×-0.3×

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UnifirstUNF

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HES

Hess MidstreamHESM

3.1×-0.1×

Helen Of TroyHELE

4.8×+2.6×

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-0.9×—

Other financials

Income statement

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Revenue$180.9M-19.8%

Gross profit$25.7M-24.3%

Net income$555.0K-93.1%

EPS (diluted)$0.05-92.8%

Balance sheet

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Cash & equivalents$53.0M+93.6%

Total debt$25.0M-66.9%

Total assets$585.6M-8.5%

Cash flow

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Operating cash flow$30.7M+1,033%

CapEx$7.9M+54.5%

Free cash flow$22.8M+1,045%

Valuation

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Market cap$596.34M+19.1%

Enterprise value$568.35M+3.5%

P/E38.5×+29.3×

P/S0.8×+0.4×

Profitability

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Gross margin15%+0.9pp

Net margin2.1%-2.7pp

FCF margin14.8%—

Returns & leverage

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Return on equity15.7%—

Debt / equity0.1×—

Current ratio3×-0.3×

Where this comes from

Calculated from Miller Industries’s reported figures.

$25.0Mtotal debt−$53.0Mcash and equivalents=-$27.98M

The official record: Miller Industries’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Miller Industries's net debt?: Miller Industries (MLR) reported net debt of -$27.98M in Q1 2026.
How has Miller Industries's net debt changed year-over-year?: Miller Industries's net debt decreased by 158.1% year-over-year, from $48.14M to -$27.98M.
What is the long-term trend for Miller Industries's net debt?: Over 5 years (2020 to 2025), Miller Industries's net debt has grown at a -27.6% compound annual growth rate (CAGR), from -$55.99M to -$11.11M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.