Mirion Technologies, Inc. (MIR) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Industrials / Manufacturing / Defense · as of Sep 24, 2026
Mirion Technologies, Inc. (MIR)
A forensic read on Mirion Technologies, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
3.3
Distress distance
Clean
Earnings quality
3
Forensic signals
160.2
P / E (ttm)
1.5%
ROE
$4.1B
Market cap
7.5%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Mirion Technologies, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.2, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
1.6%
FY2025
Return on invested capital.Return on invested capital is 1.6% in the latest fiscal year and rising across FY2023–FY2025 from -1%. The capital base behind it grew +23% across FY2023–FY2025, from $2.3B to $2.9B, and the return did not fall doing it, so the dollars added over that window earned at least the -1% the older base was already earning.
+15.3%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +33% over the last 2 years to FY2025 (+15.3%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~15.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~25%.
1.6% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.6% of revenue and 14% of free cash flow in FY2025 — about $0.06 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 15.9% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$925.4M
Revenue Growth YoY+7.5%
Revenue CAGR (2yr)+7.5%
Net Margin3.1%
Free Cash Flow$106.9M
Return on Equity1.5%
Debt / Equity0.24x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Mirion Technologies, Inc.'s actual 10-K/10-Q/8-K filings?