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Miller Industries vs Phoenix Motor: revenue, profit, margins and growth compared

Miller Industries brought in $790.3M of revenue in fiscal 2025, Phoenix Motor $31.2M in fiscal 2024. Revenue changed by -37.2% at Miller Industries and +897.9% at Phoenix Motor on the year before, so Phoenix Motor grew faster. Miller Industries kept 2.9% of its revenue as net profit, Phoenix Motor 25.5%. Free cash flow was $85M at Miller Industries and -$2.1M at Phoenix Motor.

Side by side, latest fiscal year

MLRPEVM
Fiscal year endedFY2025 (December 31, 2025)FY2024 (December 31, 2024)
Revenue$790.3M$31.2M
Revenue growth-37.2%+897.9%
Net income$23M$7.9M
Net margin2.9%25.5%
Free cash flow$85M-$2.1M
Free cash flow margin10.8%-6.6%
Earnings per share (diluted)$1.98$0.21
Cash$44.7M$764K
Debt$33.3M$141K
Price to earnings27.30.0
Market value$613.5M$12.9K
Dividend yield1.48%n/a
Rank by revenue in sector#497 of 778 · Consumer discretionary#730 of 778 · Consumer discretionary

Over the years

Revenue
MLR FY2018: $711.7MMLR FY2019: $818.2MMLR FY2020: $651.3MMLR FY2021: $717.5MMLR FY2022: $848.5MMLR FY2023: $1.2BMLR FY2024: $1.3BMLR FY2025: $790.3MPEVM FY2022: $3MPEVM FY2022: $4.3MPEVM FY2023: $3.1MPEVM FY2024: $31.2MFY18FY19FY20FY21FY22FY23FY24FY25
MLR $790.3MPEVM $31.2M
Net income
MLR FY2018: $33.7MMLR FY2019: $39.1MMLR FY2020: $29.8MMLR FY2021: $16.3MMLR FY2022: $20.3MMLR FY2023: $58.3MMLR FY2024: $63.5MMLR FY2025: $23MPEVM FY2022: -$14.6MPEVM FY2022: -$12.7MPEVM FY2023: -$20.6MPEVM FY2024: $7.9MFY18FY19FY20FY21FY22FY23FY24FY25
MLR $23MPEVM $7.9M
Net margin
MLR FY2018: 4.7%MLR FY2019: 4.8%MLR FY2020: 4.6%MLR FY2021: 2.3%MLR FY2022: 2.4%MLR FY2023: 5.1%MLR FY2024: 5.0%MLR FY2025: 2.9%PEVM FY2022: -490.9%PEVM FY2022: -293.4%PEVM FY2023: -661.3%PEVM FY2024: 25.5%FY18FY19FY20FY21FY22FY23FY24FY25
MLR 2.9%PEVM 25.5%
Revenue growth
MLR FY2019: +15.0%MLR FY2020: -20.4%MLR FY2021: +10.2%MLR FY2022: +18.3%MLR FY2023: +35.9%MLR FY2024: +9.0%MLR FY2025: -37.2%PEVM FY2022: +45.4%PEVM FY2023: -27.9%PEVM FY2024: +897.9%FY19FY20FY21FY22FY23FY24FY25
MLR -37.2%PEVM +897.9%
Free cash flow
MLR FY2018: $8.6MMLR FY2019: $17.7MMLR FY2020: $43.2MMLR FY2021: $6.1MMLR FY2022: -$48.1MMLR FY2023: -$1.1MMLR FY2024: $1.5MMLR FY2025: $85MPEVM FY2022: -$13.6MPEVM FY2022: -$16.2MPEVM FY2023: -$3.7MPEVM FY2024: -$2.1MFY18FY19FY20FY21FY22FY23FY24FY25
MLR $85MPEVM -$2.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Miller Industries and Phoenix Motor

Which is bigger by revenue, Miller Industries or Phoenix Motor?

Miller Industries is bigger by revenue: $790.3M in fiscal 2025, against $31.2M for Phoenix Motor in fiscal 2024.

Which keeps more of its revenue as profit, Miller Industries or Phoenix Motor?

Miller Industries had a net margin of 2.9% in fiscal 2025; Phoenix Motor had 25.5% in fiscal 2024.

Which grew revenue faster, Miller Industries or Phoenix Motor?

In their latest fiscal years revenue changed by -37.2% at Miller Industries and +897.9% at Phoenix Motor.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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