Miller Industries Stock Beta

MLR Stock

USD 67.25 0.42 0.63%

Miller Industries fundamentals help investors to digest information that contributes to Miller Industries' financial success or failures. It also enables traders to predict the movement of Miller Stock. The fundamental analysis module provides a way to measure Miller Industries' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Miller Industries stock.

Short Long Term Debt Total Total Assets

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Miller Industries Company Beta Analysis

Miller Industries' Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.

Beta

Covariance

Variance

More About Beta | All Equity Analysis

Current Miller Industries Beta

0.96

Most of Miller Industries' fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Miller Industries is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.

Miller Beta Driver Correlations

Understanding the fundamental principles of building solid financial models for Miller Industries is extremely important. It helps to project a fair market value of Miller Stock properly, considering its historical fundamentals such as Beta. Since Miller Industries' main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Miller Industries' historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Miller Industries' interrelated accounts and indicators.

	Total Assets	Total Stockholder Equity	Net Debt	Retained Earnings	Accounts Payable	Net Receivables	Total Liab	Total Current Assets	Short Term Debt	Intangible Assets	Good Will	Long Term Debt	Common Stock	Property Plant Equipment	Current Deferred Revenue	Net Tangible Assets	Short Term Investments	Capital Surpluse	Deferred Long Term Liab	Long Term Debt Total	Short Long Term Debt	Cash And Equivalents	Net Invested Capital	Net Working Capital	Capital Stock
Total Assets		0.98	0.59	0.96	0.98	0.98	0.97	1.0	-0.47	0.62	-0.21	0.11	-0.49	0.84	0.54	0.82	0.79	0.83	0.88	0.79	-0.77	0.51	0.88	0.87	-0.72
Total Stockholder Equity	0.98		0.42	0.94	0.92	0.93	0.9	0.96	-0.47	0.68	-0.36	-0.07	-0.6	0.8	0.38	0.85	0.85	0.73	0.82	0.66	-0.8	0.57	0.83	0.82	-0.61
Net Debt	0.59	0.42		0.59	0.67	0.67	0.74	0.61	-0.38	0.04	0.47	0.74	0.2	0.71	0.8	0.39	0.29	0.73	0.58	0.87	-0.45	-0.05	0.62	0.62	-0.71
Retained Earnings	0.96	0.94	0.59		0.93	0.92	0.92	0.94	-0.59	0.44	-0.03	0.25	-0.29	0.94	0.56	0.9	0.82	0.77	0.92	0.73	-0.85	0.63	0.92	0.91	-0.67
Accounts Payable	0.98	0.92	0.67	0.93		0.99	0.99	0.98	-0.43	0.55	-0.08	0.22	-0.38	0.85	0.63	0.77	0.72	0.87	0.87	0.81	-0.72	0.46	0.86	0.85	-0.78
Net Receivables	0.98	0.93	0.67	0.92	0.99		0.98	0.98	-0.41	0.59	-0.13	0.17	-0.43	0.83	0.62	0.75	0.75	0.87	0.83	0.8	-0.73	0.4	0.84	0.83	-0.78
Total Liab	0.97	0.9	0.74	0.92	0.99	0.98		0.98	-0.44	0.53	-0.04	0.29	-0.35	0.85	0.68	0.75	0.68	0.89	0.88	0.88	-0.7	0.42	0.88	0.87	-0.8
Total Current Assets	1.0	0.96	0.61	0.94	0.98	0.98	0.98		-0.42	0.63	-0.19	0.13	-0.48	0.82	0.58	0.78	0.75	0.85	0.88	0.81	-0.72	0.49	0.87	0.87	-0.76
Short Term Debt	-0.47	-0.47	-0.38	-0.59	-0.43	-0.41	-0.44	-0.42		-0.03	-0.15	-0.3	-0.05	-0.7	-0.28	-0.6	-0.4	-0.29	-0.45	-0.36	0.78	-0.3	-0.52	-0.52	0.26
Intangible Assets	0.62	0.68	0.04	0.44	0.55	0.59	0.53	0.63	-0.03		-0.72	-0.5	-0.83	0.22	0.03	0.22	0.49	0.31	0.35	0.34	-0.33	0.13	0.23	0.22	-0.49
Good Will	-0.21	-0.36	0.47	-0.03	-0.08	-0.13	-0.04	-0.19	-0.15	-0.72		0.91	0.93	0.2	0.61	-0.11	-0.34	0.16	0.11	0.17	0.14	0.01	0.09	0.09	-0.23
Long Term Debt	0.11	-0.07	0.74	0.25	0.22	0.17	0.29	0.13	-0.3	-0.5	0.91		0.77	0.47	0.74	0.12	-0.11	0.37	0.38	0.52	-0.11	0.06	0.36	0.36	-0.44
Common Stock	-0.49	-0.6	0.2	-0.29	-0.38	-0.43	-0.35	-0.48	-0.05	-0.83	0.93	0.77		-0.03	0.28	-0.31	-0.47	-0.22	-0.16	-0.13	0.28	-0.12	-0.21	-0.21	0.08
Property Plant Equipment	0.84	0.8	0.71	0.94	0.85	0.83	0.85	0.82	-0.7	0.22	0.2	0.47	-0.03		0.61	0.85	0.72	0.71	0.84	0.72	-0.87	0.53	0.86	0.85	-0.62
Current Deferred Revenue	0.54	0.38	0.8	0.56	0.63	0.62	0.68	0.58	-0.28	0.03	0.61	0.74	0.28	0.61		0.3	0.15	0.83	0.66	0.74	-0.25	0.25	0.61	0.61	-0.88
Net Tangible Assets	0.82	0.85	0.39	0.9	0.77	0.75	0.75	0.78	-0.6	0.22	-0.11	0.12	-0.31	0.85	0.3		0.82	0.64	0.78	0.53	-0.86	0.67	0.9	0.9	-0.31
Short Term Investments	0.79	0.85	0.29	0.82	0.72	0.75	0.68	0.75	-0.4	0.49	-0.34	-0.11	-0.47	0.72	0.15	0.82		0.49	0.6	0.41	-0.83	0.46	0.67	0.66	-0.33
Capital Surpluse	0.83	0.73	0.73	0.77	0.87	0.87	0.89	0.85	-0.29	0.31	0.16	0.37	-0.22	0.71	0.83	0.64	0.49		0.78	0.82	-0.49	0.39	0.84	0.84	-0.81
Deferred Long Term Liab	0.88	0.82	0.58	0.92	0.87	0.83	0.88	0.88	-0.45	0.35	0.11	0.38	-0.16	0.84	0.66	0.78	0.6	0.78		0.79	-0.6	0.68	0.93	0.92	-0.72
Long Term Debt Total	0.79	0.66	0.87	0.73	0.81	0.8	0.88	0.81	-0.36	0.34	0.17	0.52	-0.13	0.72	0.74	0.53	0.41	0.82	0.79		-0.49	0.21	0.8	0.79	-0.78
Short Long Term Debt	-0.77	-0.8	-0.45	-0.85	-0.72	-0.73	-0.7	-0.72	0.78	-0.33	0.14	-0.11	0.28	-0.87	-0.25	-0.86	-0.83	-0.49	-0.6	-0.49		-0.41	-0.7	-0.7	0.35
Cash And Equivalents	0.51	0.57	-0.05	0.63	0.46	0.4	0.42	0.49	-0.3	0.13	0.01	0.06	-0.12	0.53	0.25	0.67	0.46	0.39	0.68	0.21	-0.41		0.63	0.63	-0.26
Net Invested Capital	0.88	0.83	0.62	0.92	0.86	0.84	0.88	0.87	-0.52	0.23	0.09	0.36	-0.21	0.86	0.61	0.9	0.67	0.84	0.93	0.8	-0.7	0.63		1.0	-0.59
Net Working Capital	0.87	0.82	0.62	0.91	0.85	0.83	0.87	0.87	-0.52	0.22	0.09	0.36	-0.21	0.85	0.61	0.9	0.66	0.84	0.92	0.79	-0.7	0.63	1.0		-0.58
Capital Stock	-0.72	-0.61	-0.71	-0.67	-0.78	-0.78	-0.8	-0.76	0.26	-0.49	-0.23	-0.44	0.08	-0.62	-0.88	-0.31	-0.33	-0.81	-0.72	-0.78	0.35	-0.26	-0.59	-0.58

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In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.

Competition

Predict Miller Industries

In accordance with the recently published financial statements, Miller Industries has a Beta of 0.955. This is 13.69% higher than that of the Machinery sector and 35.47% lower than that of the Industrials industry. The beta for all United States stocks is notably lower than that of the firm.

Miller Beta Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Miller Industries' direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Miller Industries could also be used in its relative valuation, which is a method of valuing Miller Industries by comparing valuation metrics of similar companies.

Miller Industries is currently under evaluation in beta category among its peers.

Miller Industries ESG Sustainability

Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Miller Industries' sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Miller Industries' managers, analysts, and investors.

Environmental

Governance

Social

Miller Industries Institutional Holders

Institutional Holdings refers to the ownership stake in Miller Industries that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Miller Industries' outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Miller Industries' value.

		Shares
Geode Capital Management, Llc	2024-06-30	266.8 K
State Street Corp	2024-06-30	221.3 K
Allspring Global Investments Holdings, Llc	2024-06-30	154.5 K
Advisorshares Investments, Llc	2024-06-30	136.9 K
Mutual Of America Capital Management Llc	2024-09-30	117.5 K
Diversified Investment Strategies, Llc	2024-09-30	111.6 K
Huber Capital Management Llc	2024-09-30	105.9 K
Northern Trust Corp	2024-09-30	105.3 K
Bank Of New York Mellon Corp	2024-06-30	100.5 K
Dimensional Fund Advisors, Inc.	2024-09-30	865.8 K
Blackrock Inc	2024-06-30	842.4 K

Miller Industries returns are very sensitive to returns on the market. As the market goes up or down, Miller Industries is expected to follow.

Miller Fundamentals

	Return On Equity	0.19
	Return On Asset	0.0861
	Profit Margin	0.05 %
	Operating Margin	0.06 %
	Current Valuation	802.52 M
	Shares Outstanding	11.45 M
	Shares Owned By Insiders	4.32 %
	Shares Owned By Institutions	86.14 %
	Number Of Shares Shorted	530.62 K
	Price To Earning	10.55 X
	Price To Book	1.97 X
	Price To Sales	0.58 X
	Revenue	1.15 B
	Gross Profit	82.42 M
	EBITDA	93 M
	Net Income	58.29 M
	Cash And Equivalents	40.15 M
	Cash Per Share	2.73 X
	Total Debt	60.83 M
	Debt To Equity	0.14 %
	Current Ratio	2.27 X
	Book Value Per Share	34.55 X
	Cash Flow From Operations	10.96 M
	Short Ratio	7.23 X
	Earnings Per Share	5.58 X
	Target Price	78.0
	Number Of Employees	1.8 K
	Beta	0.96
	Market Capitalization	877.71 M
	Total Asset	647.21 M
	Retained Earnings	200.16 M
	Working Capital	275.76 M
	Current Asset	219.26 M
	Current Liabilities	94.49 M
	Annual Yield	0.01 %
	Five Year Return	2.40 %
	Net Asset	647.21 M
	Last Dividend Paid	0.75

About Miller Industries Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Miller Industries's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Miller Industries using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Miller Industries based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.

Please read more on our fundamental analysis page.

Pair Trading with Miller Industries

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Miller Industries position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Miller Industries will appreciate offsetting losses from the drop in the long position's value.

Moving together with Miller Stock

0.66

BBU

Brookfield Business

Pair Corr

Moving against Miller Stock

0.8	RUN	Sunrun Inc	Pair Corr
0.72	CVGI	Commercial Vehicle	Pair Corr
0.63	WPRT	Westport Fuel Systems	Pair Corr
0.62	EFSH	1847 Holdings LLC	Pair Corr
0.58	PLOW	Douglas Dynamics	Pair Corr

The ability to find closely correlated positions to Miller Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Miller Industries when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Miller Industries - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Miller Industries to buy it.

The correlation of Miller Industries is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Miller Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Miller Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Miller Industries can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Miller Stock Analysis

When running Miller Industries' price analysis, check to measure Miller Industries' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Miller Industries is operating at the current time. Most of Miller Industries' value examination focuses on studying past and present price action to predict the probability of Miller Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Miller Industries' price. Additionally, you may evaluate how the addition of Miller Industries to your portfolios can decrease your overall portfolio volatility.

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