Mirion Technologies, Inc.
MIR NYSE Measuring & Controlling Devices, Nec Financials FY2021–FY2025
Revenue
Total sales reported in the income statement.
$925M
7.5%
vs prior year
Operating margin
Operating income as a share of revenue.
5.6%
2.7 pts
Net income
Profit after all expenses, interest and tax.
$28.8M
Free cash flow
Cash from operations minus capital spending.
$107M
112.5%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
2.5%
1.5 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $0.10 EPS (TTM)
What Mirion Technologies, Inc. does
No business description yet.
- Legal name
- Mirion Technologies, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 19, 2026
- Accession · CIK
- 0001628280-26-009869
0001809987
Revenue and margins
Mirion Technologies, Inc. had $925M of revenue in fiscal 2025, up 7.5% on the year before.
FY21
Revenue —
FY22
Revenue $718M
FY23
Revenue $801M
FY24
Revenue $861M
FY25
Revenue $925M
Q3 '23
Revenue $191M
Q4 '23
Revenue $230M
Q1 '24
Revenue $193M
Q2 '24
Revenue $207M
Q3 '24
Revenue $207M
Q4 '24
Revenue $254M
Q1 '25
Revenue $202M
Q2 '25
Revenue $223M
Q3 '25
Revenue $223M
Q4 '25
Revenue $277M
Q1 '26
Revenue $258M
Q2 '26
Revenue $267M
FY21
Gross —
Operating —
Net —
FCF —
FY22
Gross 43.2%
Operating −41.5%
Net −38.6%
FCF 0.7%
FY23
Gross 44.5%
Operating −2.7%
Net −12.1%
FCF 7.3%
FY24
Gross 46.4%
Operating 2.9%
Net −4.2%
FCF 5.8%
FY25
Gross 47.4%
Operating 5.6%
Net 3.1%
FCF 11.6%
Gross
Operating
Net
FCF
Q3 '23
Gross 42.3%
Operating −5.8%
Net −6.3%
FCF 7.5%
Q4 '23
Gross 47.1%
Operating 5.8%
Net −6.6%
FCF 23.9%
Q1 '24
Gross 45.2%
Operating −2.5%
Net −13.4%
FCF −3.5%
Q2 '24
Gross 47.0%
Operating 1.1%
Net −5.6%
FCF 2.0%
Q3 '24
Gross 44.9%
Operating −0.8%
Net −6.6%
FCF 1.9%
Q4 '24
Gross 48.1%
Operating 11.4%
Net 5.9%
FCF 19.3%
Q1 '25
Gross 47.6%
Operating 4.3%
Net 0.1%
FCF 13.4%
Q2 '25
Gross 46.0%
Operating 4.4%
Net 3.7%
FCF 1.6%
Q3 '25
Gross 46.8%
Operating 3.3%
Net 1.3%
FCF 5.8%
Q4 '25
Gross 48.8%
Operating 9.2%
Net 6.2%
FCF 22.8%
Q1 '26
Gross 46.2%
Operating 1.4%
Net −1.3%
FCF 3.6%
Q2 '26
Gross 49.9%
Operating 6.7%
Net 2.9%
FCF 18.0%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY21
Net income −$158M
FY22
Net income −$277M
FY23
Net income −$96.9M
FY24
Net income −$36.1M
FY25
Net income $28.8M
Q3 '23
Net income −$12.1M
Q4 '23
Net income −$15.2M
Q1 '24
Net income −$25.8M
Q2 '24
Net income −$11.7M
Q3 '24
Net income −$13.6M
Q4 '24
Net income $15.0M
Q1 '25
Net income $0.3M
Q2 '25
Net income $8.3M
Q3 '25
Net income $2.9M
Q4 '25
Net income $17.3M
Q1 '26
Net income −$3.4M
Q2 '26
Net income $7.7M
FY21
Diluted EPS —
FY22
Diluted EPS −$1.53
FY23
Diluted EPS −$0.49
FY24
Diluted EPS −$0.18
FY25
Diluted EPS $0.11
Q3 '23
Diluted EPS −$0.06
Q4 '23
Diluted EPS −$0.07
Q1 '24
Diluted EPS −$0.13
Q2 '24
Diluted EPS −$0.06
Q3 '24
Diluted EPS −$0.07
Q4 '24
Diluted EPS $0.08
Q1 '25
Diluted EPS $0.00
Q2 '25
Diluted EPS $0.03
Q3 '25
Diluted EPS $0.01
Q4 '25
Diluted EPS $0.07
Q1 '26
Diluted EPS −$0.01
Q2 '26
Diluted EPS $0.03
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital —
Return on equity −9.4%
Return on assets −5.1%
FY22
Return on capital −11.0%
Return on equity −17.9%
Return on assets −9.5%
FY23
Return on capital −0.8%
Return on equity −6.7%
Return on assets −3.6%
FY24
Return on capital 1.0%
Return on equity −2.4%
Return on assets −1.3%
FY25
Return on capital 2.5%
Return on equity 1.7%
Return on assets 0.9%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $107M in fiscal 2025, 11.6% of revenue. Cash from operations minus capital spending.
FY21
Free cash flow —
FY22
Free cash flow $5.2M
FY23
Free cash flow $58.1M
FY24
Free cash flow $50.3M
FY25
Free cash flow $107M
Q3 '23
Free cash flow $14.4M
Q4 '23
Free cash flow $55.1M
Q1 '24
Free cash flow −$6.8M
Q2 '24
Free cash flow $4.1M
Q3 '24
Free cash flow $3.9M
Q4 '24
Free cash flow $49.1M
Q1 '25
Free cash flow $27.1M
Q2 '25
Free cash flow $3.6M
Q3 '25
Free cash flow $13.0M
Q4 '25
Free cash flow $63.2M
Q1 '26
Free cash flow $9.4M
Q2 '26
Free cash flow $48.1M
FY21
Cash from operations —
Capital spending —
FY22
Cash from operations $39.4M
Capital spending $34.2M
FY23
Cash from operations $95.2M
Capital spending $37.1M
FY24
Cash from operations $99.1M
Capital spending $48.8M
FY25
Cash from operations $143M
Capital spending $36.4M
Cash from operations
Capital spending
Q3 '23
Cash from operations $23.8M
Capital spending $9.4M
Q4 '23
Cash from operations $67.0M
Capital spending $11.9M
Q1 '24
Cash from operations $6.0M
Capital spending $12.8M
Q2 '24
Cash from operations $15.2M
Capital spending $11.1M
Q3 '24
Cash from operations $17.1M
Capital spending $13.2M
Q4 '24
Cash from operations $60.8M
Capital spending $11.7M
Q1 '25
Cash from operations $35.6M
Capital spending $8.5M
Q2 '25
Cash from operations $12.4M
Capital spending $8.8M
Q3 '25
Cash from operations $22.3M
Capital spending $9.3M
Q4 '25
Cash from operations $73.0M
Capital spending $9.8M
Q1 '26
Cash from operations $18.9M
Capital spending $9.5M
Q2 '26
Cash from operations $58.5M
Capital spending $10.4M
Cash from operations
Capital spending
Dividends, buybacks and share count
Mirion Technologies, Inc. returned $49.6M to shareholders in fiscal 2025, 46% of free cash flow. The diluted share count rose 27.4%.
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks $0.0M
FY23
Dividends —
Buybacks $0.0M
FY24
Dividends —
Buybacks $0.0M
FY25
Dividends —
Buybacks $49.6M
Dividends
Buybacks
Q3 '23
Dividends —
Buybacks $0.0M
Q4 '23
Dividends —
Buybacks −$0.4M
Q1 '24
Dividends —
Buybacks $0.0M
Q2 '24
Dividends —
Buybacks $0.0M
Q3 '24
Dividends —
Buybacks $0.0M
Q4 '24
Dividends —
Buybacks $0.0M
Q1 '25
Dividends —
Buybacks $18.6M
Q2 '25
Dividends —
Buybacks $31.0M
Q3 '25
Dividends —
Buybacks $0.0M
Q4 '25
Dividends —
Buybacks $0.0M
Q1 '26
Dividends —
Buybacks $16.0M
Q2 '26
Dividends —
Buybacks $25.0M
Dividends
Buybacks
FY21
Diluted shares —
FY22
Diluted shares 0.18B
FY23
Diluted shares 0.20B
FY24
Diluted shares 0.20B
FY25
Diluted shares 0.26B
Balance sheet
Cash, debt and the ratios that show how comfortably Mirion Technologies, Inc. can carry it.
FY21
Cash $84.0M
Debt $812M
FY22
Cash $73.5M
Debt $807M
FY23
Cash $129M
Debt $686M
FY24
Cash $175M
Debt $686M
FY25
Cash $412M
Debt $445M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $84.0M | $73.5M | $129M | $175M | $412M |
| Debt incl. finance leases | $812M | $807M | $686M | $686M | $445M |
| Net debt / EBITDA | — | — | 4.0x | 2.9x | 0.2x |
| Debt / equity | 0.5x | 0.6x | 0.5x | 0.5x | 0.2x |
| Interest coverage | — | — | −0.4x | 0.4x | 1.2x |
| Current ratio | 2.1x | 2.0x | 2.0x | 2.3x | 2.8x |
| Quick ratio | 1.5x | 1.4x | 1.5x | 1.8x | 2.3x |
| Total assets | $3.1B | $2.7B | $2.7B | $2.6B | $3.6B |
| Total liabilities | $1.3B | $1.3B | $1.2B | $1.1B | $1.7B |
| Shareholders' equity | $1.7B | $1.4B | $1.5B | $1.5B | $1.9B |
| Net debt (− = net cash) | $728M | $734M | $557M | $511M | $32.4M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✕ | ✓ |
| Cash from operations is positive | — | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✓ | ✓ | ✓ |
| Cash from operations exceeds net income | — | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✕ | ✓ | ✕ | ✓ |
| Current ratio rose | — | ✕ | ✓ | ✓ | ✓ |
| Share count didn't rise | — | — | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | — | — | ✓ | ✓ | ✕ |
| F-score | — / 1 | — / 6 | 7 / 9 | 6 / 9 | 7 / 9 |
| Accruals ratio | — | −10.8% | −7.0% | −5.1% | −3.7% |
| Altman Z'' | — | 0.50 | 1.33 | 1.69 | 1.86 |
5 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | — | $718M | $801M | $861M | $925M |
| Gross profit | — | $310M | $356M | $400M | $439M |
| Research and development | — | $30.3M | $31.7M | $35.0M | $38.9M |
| Operating income | — | −$298M | −$21.9M | $24.8M | $51.5M |
| Interest expense | — | — | $61.9M | $57.9M | $42.2M |
| Pretax income | — | −$307M | −$105M | −$33.9M | $32.7M |
| Income tax | — | −$18.2M | −$6.6M | $2.7M | $2.9M |
| Net income | −$158M | −$277M | −$96.9M | −$36.1M | $28.8M |
| Diluted EPS | — | −$1.53 | −$0.49 | −$0.18 | $0.11 |
| Diluted shares | — | 0.18B | 0.20B | 0.20B | 0.26B |
| Cash flow | |||||
| Cash from operations | — | $39.4M | $95.2M | $99.1M | $143M |
| Capital expenditure | — | $34.2M | $37.1M | $48.8M | $36.4M |
| Free cash flow | — | $5.2M | $58.1M | $50.3M | $107M |
| Depreciation and amortization | — | $175M | $163M | $150M | $138M |
| Stock-based compensation | — | $31.8M | $21.9M | $15.6M | $15.2M |
| Acquisitions | — | $6.6M | $31.4M | $1.0M | $662M |
| Share buybacks | — | $0.0M | $0.0M | $0.0M | $49.6M |
| Dividends and buybacks | — | $0.0M | $0.0M | $0.0M | $49.6M |
| Balance sheet | |||||
| Cash and short-term investments | $84.0M | $73.5M | $129M | $175M | $412M |
| Total debt | $811M | $807M | $686M | $686M | $445M |
| Finance lease liabilities | $0.9M | $0.5M | $0.2M | $0.0M | — |
| Deposits | $8.8M | $8.5M | $8.5M | $14.3M | $19.5M |
| Current assets | $453M | $481M | $539M | $595M | $894M |
| Current liabilities | $221M | $244M | $266M | $263M | $316M |
| Inventory | $124M | $143M | $144M | $133M | $153M |
| Property and equipment, net | $124M | $124M | $135M | $146M | $155M |
| Goodwill | $1.7B | $1.4B | $1.4B | $1.4B | $1.9B |
| Intangible assets | $807M | $650M | $539M | $412M | $606M |
| Total assets | $3.1B | $2.7B | $2.7B | $2.6B | $3.6B |
| Total liabilities | $1.3B | $1.3B | $1.2B | $1.1B | $1.7B |
| Shareholders' equity | $1.7B | $1.4B | $1.5B | $1.5B | $1.9B |
| Margins | |||||
| Gross margin | — | 43.2% | 44.5% | 46.4% | 47.4% |
| Operating margin | — | −41.5% | −2.7% | 2.9% | 5.6% |
| EBITDA margin | — | −17.2% | 17.6% | 20.4% | 20.5% |
| Net margin | — | −38.6% | −12.1% | −4.2% | 3.1% |
| FCF margin | — | 0.7% | 7.3% | 5.8% | 11.6% |
| Returns | |||||
| Return on capital | — | −11.0% | −0.8% | 1.0% | 2.5% |
| Return on capital employed | — | −11.9% | −0.9% | 1.0% | 1.6% |
| Return on equity | −9.4% | −17.9% | −6.7% | −2.4% | 1.7% |
| Return on assets | −5.1% | −9.5% | −3.6% | −1.3% | 0.9% |
| Growth | |||||
| Revenue growth | — | — | 11.6% | 7.5% | 7.5% |
| FCF growth | — | — | 1,017.3% | −13.4% | 112.5% |
| Share count change | — | — | 8.4% | 4.4% | 27.4% |
| Financial health | |||||
| Net debt / EBITDA | — | — | 4.0x | 2.9x | 0.2x |
| Debt / equity | 0.5x | 0.6x | 0.5x | 0.5x | 0.2x |
| Interest coverage | — | — | −0.4x | 0.4x | 1.2x |
| Current ratio | 2.1x | 2.0x | 2.0x | 2.3x | 2.8x |
| Quick ratio | 1.5x | 1.4x | 1.5x | 1.8x | 2.3x |
| Capital allocation | |||||
| Capex / revenue | — | 4.8% | 4.6% | 5.7% | 3.9% |
| Stock comp / revenue | — | 4.4% | 2.7% | 1.8% | 1.6% |
| Payouts / FCF | — | 0.0% | 0.0% | 0.0% | 46.4% |
| Quality scores | |||||
| Piotroski F-score | — | — | 7.0 | 6.0 | 7.0 |
| Altman Z'' | — | 0.5 | 1.3 | 1.7 | 1.9 |
| Accruals ratio | — | −10.8% | −7.0% | −5.1% | −3.7% |
Source: SEC EDGAR XBRL filings (CIK 0001809987). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.