Mirion Technologies, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Mirion Technologies, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2020	FY2021	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	440		478		612		718	801	861	925
Cost of revenue	252		281		360		408	445	461	487
Gross profit	188		197		252		310	356	400	439
Research and development	14		15.9		29.4		30.3	31.7	35	38.9
Selling, general and administrative	145		158		211		362	340	341	348
General and administrative		0		2.45
Operating expenses	159		174		241		608	378	375	387
Operating income	28.8		23		11.2		-298	-21.9	24.8	51.5
Interest expense								61.9	57.9	42.2
Interest income					0.2		0.6	4.8	6.6	12.1
Other non-operating income	-1.9		1		1.1		0.4	0.8	0.1	-0.3
Pre-tax income	-126	-0	-125	-45.5	-164		-307	-105	-33.9	32.7
Income tax	-4.2	0	-5.5	-0.27	-5.9		-18.2	-6.6	2.7	2.9
Net income to minority interests	0		0		-0.1		-11.5	-1.8	-0.5	1
Net income	-122	-0	-119	-45.3	-158	-158	-277	-96.9	-36.1	28.8
EBITDA	98.3		91.4		94.8		-123	141	175	190
EPS, basic	-19.36		-18.45		-24.18		-1.53	-0.49	-0.18	0.13
EPS, diluted	-19.36		-18.45		-24.18		-1.53	-0.49	-0.18	0.11
Shares, basic (weighted)	6.3		6.45		6.55		181	196	205	230
Shares, diluted (weighted)	6.3		6.45		6.55		181	196	205	261

Balance sheet

	FY2019	FY2020	FY2021	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	35.8	0.01	118	109	101	84	73.5	129	175	412
Receivables			97.3		133	157	171	172	178	182
Inventory			90.2		113	124	143	144	133	153
Other current assets			16.7	0.6	16.9	15.3	13.4	17.3	13.6	16.5
Total current assets		0.01	390	0.98	434	453	481	539	595	894
Property, plant and equipment			75.2		88.8	124	124	135	146	155
Lease right-of-use assets			0		0	45.7	40.1	32.8	30.3	32.1
Goodwill	512		523		682	1,663	1,418	1,448	1,426	1,872
Intangible assets			248		326	807	650	539	412	606
Other non-current assets			7.5		16.2	24.7	24.3	25.1	26.9	28.7
Total assets		0.01	1,244	751	1,547	3,118	2,739	2,719	2,636	3,588
Accounts payable		0	38.7	0.97	47.1	59.4	67.7	58.7	56.5	57.4
Accrued liabilities			0		0	9.3	8.5	41.8	44.7	51.8
Deferred revenue			39.6		50.4	73	83	41.1	96.6	112
Short-term debt			41.1		6.4	3.9	5.3	1.2	1.2	1.6
Total current liabilities		0	184	73	188	221	244	266	263	316
Long-term debt			670		886	807	802	685	685	443
Lease liabilities			0		0	40.6	34.3	28.1	27.1	26.8
Other non-current liabilities			18		24.9	24.7		50.7	40.1	60.7
Total liabilities		0	1,960	99.3	2,387	1,334	1,272	1,169	1,077	1,671
Total debt			711		892	811	807	686	686	445
Paid-in capital		0	9.5	0	9.5	1,846	1,882	2,057	2,143	2,490
Retained earnings		-0	-730	-98	-888	-132	-409	-505	-542	-513
Treasury stock							0	-1.3	-3.2	-58.4
Other comprehensive income			4.1		39.2	-20.7	-75.7	-65.3	-93	-52.6
Shareholders' equity	0	0	-719	-98	-842	1,693	1,398	1,485	1,506	1,866
Minority interests			2.2		2.1	90.8	69	65.5	53.5	50.5
Total equity	-588	0	-717	-733	-840	1,784	1,467	1,550	1,559	1,917
Total liabilities and equity		0.01	1,244	751	1,547	3,118	2,739	2,719	2,636	3,588
Shares outstanding						18.8		18.8

Cash flow statement

	FY2019	FY2020	FY2021	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-122	-0	-119	-45.3	-158	-158	-288	-98.7	-36.6	29.8
Depreciation and amortization	69.5		68.4		83.6		175	163	150	138
Stock-based compensation	0.1		0.2		0		31.8	21.9	15.6	15.2
Deferred income tax	-16.8		-16		-18		-37.2	-30.9	-23.8	-22.3
Change in receivables	10.6		3.8		-4.2		-14.8	-5	-12	14.6
Change in inventory	-7.9		2.7		-4.2		-34.8	-0.5	1.3	3.3
Change in payables	-2.7	0	-2.5	0.96	2.6		4.5	-9.9	-1.5	-10.8
Cash from operations	14.7	0	39.5	-0.95	53.6		39.4	95.2	99.1	143
Capital expenditures	-16.5		-19.9		-23.2		-34.2	-37.1	-48.8	-36.4
Acquisitions	-9.1		-55.7		-290		-6.6	-31.4	-1	-662
Cash from investing	-25.6		-75.6		-313		-39.5	-64.7	-43.7	-695
Stock issued	0	0	0	0	0		0	150	0	425
Share buybacks					0		0	0	0	-49.6
Cash from financing	15	0	119	751	239		-7	22.6	-3.3	776
Exchange rate effect	-2.4		-0.4		3.1		-3.2	2.4
Net change in cash	1.7	0	82.4	750	-17.6		-10.3	55.5	45.1	240
Free cash flow	-1.8		19.6		30.4		5.2	58.1	50.3	107
Interest paid	39.2		39.2		37.4		37.1	58.5	55.1	37.9
Income taxes paid	11.3		10.6		19.3		12.5	26.3	23.1	27

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $15.59 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	48.0%	Gross profit / revenue.
Operating margin	5.3%	Operating income / revenue.
EBITDA margin	20.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.0%	Pre-tax income / revenue.
Net margin	2.4%	Net income / revenue.
FCF margin	13.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.9%	Cash from operations / revenue.
Effective tax rate	15.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	1.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.7%	Net income / average total assets.
Return on invested capital (ROIC)	2.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	3.9%	Research and development expense / revenue.
SG&A / revenue	38.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.8%	Capital expenditures / revenue.
D&A / revenue	14.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	12.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	11.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	107.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 5y	35.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	8.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y	14.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	44.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	53.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	21.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	112.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	173.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	28.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	24.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	36.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	18.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	27.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	13.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	109.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.20x	Current assets / current liabilities.
Quick ratio	2.12x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.49x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.24x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	12.6%	Total debt / total assets.
Liabilities / assets	46.7%	Total liabilities / total assets.
Net debt	$26.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.13x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$618.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	68.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$581.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.29x	Revenue / average total assets.
Fixed asset turnover	6.61x	Revenue / average property, plant and equipment.
Inventory turnover	3.34x	Cost of revenue / average inventory.
Days inventory	109 days	365 x average inventory / cost of revenue.
Receivables turnover	5.78x	Revenue / average receivables.
Days sales outstanding	63 days	365 x average receivables / revenue.
Days payables	41 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	131 days	Days inventory + days sales outstanding - days payables.
FCF conversion	545.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	22.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.09	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.73	Revenue / diluted weighted shares.
FCF per share	$0.49	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.63	Cash from operations / diluted weighted shares.
Book value per share	$6.64	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$2.11	Tangible book value / shares outstanding.
Cash per share	$1.52	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	30.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$3.88B	Share price x shares outstanding.
Enterprise value	$3.91B	Market cap + total debt - cash - short-term investments.
P/E	158x	Market cap / net income. Only when net income is positive.
P/S	3.79x	Market cap / revenue.
P/B	2.13x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	29.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	22.5x	Market cap / cash from operations, when positive.
EV/Sales	3.81x	Enterprise value / revenue.
EV/EBIT	71.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	19.1x	Enterprise value / EBITDA, when both are positive.
EV/FCF	29.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.4%	Free cash flow / market cap.
Earnings yield	0.6%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.1%	(Dividends paid + share buybacks) / market cap.

What was Mirion Technologies, Inc.'s revenue in fiscal 2025?

Mirion Technologies, Inc. reported revenue of $925.4M for fiscal 2025, 7.5% higher than the year before.

Was Mirion Technologies, Inc. profitable in fiscal 2025?

Yes. Net income was $28.8M, a net margin of 3.1%.

How much free cash flow did Mirion Technologies, Inc. generate in fiscal 2025?

Cash from operations of $143.3M minus capital expenditures of $36.4M left free cash flow of $106.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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