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DCF valuation

What is Mirion Technologies, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Mirion Technologies, Inc.'s reported free cash flow gives $13.39 per share. The share price was $19.48 on November 9, 2026, 45% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$106.9M
Cash
$408.7M
balance sheet of September 30, 2026
Debt
$444M
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
261,154,000
Revenue growth per year, last 4 years
17.9%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$8.08-59%
Base15.0%9.0%2.5%9.0%$13.39-31%
Bull20.0%11.5%3.0%8.0%$23.27+19%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$17.41$18.66$20.19$22.11$24.57
8.0%$14.39$15.20$16.16$17.31$18.72
9.0%$12.19$12.75$13.39$14.14$15.02
10.0%$10.53$10.92$11.37$11.88$12.47
11.0%$9.22$9.51$9.84$10.20$10.61

Where the presets come from

Base: years 1 to 5 grow at Mirion Technologies, Inc.'s revenue growth rate over the last 4 fiscal years (17.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Mirion Technologies, Inc. company page