What is Miller Industries Inc worth?
With the base-case assumptions below, a discounted cash flow model on Miller Industries Inc's reported free cash flow gives $132.05 per share. The share price was $48.10 on November 10, 2026, 64% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -1.0% | 10.0% | $83.57 | +74% |
| Base | 4.0% | 9.0% | $132.05 | +175% |
| Bull | 9.0% | 8.0% | $222.58 | +363% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $166.52 | $176.98 | $189.76 | $205.74 | $226.29 |
| 8.0% | $140.85 | $147.63 | $155.65 | $165.27 | $177.02 |
| 9.0% | $122.06 | $126.70 | $132.05 | $138.30 | $145.68 |
| 10.0% | $107.74 | $111.03 | $114.77 | $119.04 | $123.97 |
| 11.0% | $96.45 | $98.87 | $101.57 | $104.61 | $108.06 |
Where the presets come from
Base: years 1 to 5 grow at Miller Industries Inc's revenue growth rate over the last 5 fiscal years (3.9% 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