| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 22 | 159.8x | 17.8x | Bottom tier | |
Growth | 87 | 15.7% | 7.1% | Top tier | |
Quality | 63 | 2.3% | 4.5% | Around median | |
Safety | 62 | — | 2.6x | Around median | |
Capital Return | 41 | — | 2.12% | Around median | |
Momentum | 16 | -23.1% | 2.9% | Bottom tier | |
Sentiment | 91 | 6 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Mirion Technologies provides radiation-related measurement, monitoring, and safety solutions through two main segments: Nuclear & Safety and Medical. The Nuclear & Safety segment serves operating nuclear power plants, small modular reactors, new-build projects, laboratories, and government agencies, while the Medical activities include radiation therapy quality assurance RTQA, nuclear medicine, and dosimetry services. The existing nuclear fleet provides it with a recurring demand base, as about 80% of its nuclear power-related revenue comes from operating plants, while platforms such as SunCHECK and measurement devices within power plants and cancer treatment centers connect hardware, software, and data.
In fiscal Q2 2026, revenue reached $266.8 million, up 19.7% year over year, but organic growth was limited to 1% because about 18 percentage points of growth came from acquisitions, particularly Paragon. The Nuclear & Safety segment generated revenue of $186 million, representing about 70% of the total, and the Medical segment generated $81 million, or about 30%, with organic growth of 2.3% for the former and an organic contraction of 1% for the latter. According to EDGAR data, gross profit was $133.1 million, implying a gross margin of approximately 49.9%, while net income was $7.7 million and GAAP earnings per share were $0.03.
Adjusted earnings before interest, taxes, depreciation, and amortization reached $65.3 million in fiscal Q2 2026, up 27.5% year over year, and the margin expanded by 150 basis points due to product mix and pricing in both segments. Earnings on this measure in the Nuclear & Safety segment rose 35% to $51.1 million, while they reached $30.7 million in the Medical segment, up 3% despite lower revenue. On a last-twelve-month basis reported in EDGAR, revenue reached $1.0 billion, gross profit reached $492.2 million, and net income reached $24.5 million.
The analyst consensus is “Buy,” with an average price target of $24.5 and a range of $23 to $28; the average is about 19% below the 52-week range high of $30.277, while the highest target is about 7.5% below it. No stated price-to-earnings ratio is available, and the wide 52-week range of $14.11 to $30.277 reflects the sensitivity of the revaluation to the divergence between acquisition-driven reported revenue growth and low organic growth, versus the strong backlog and expected acceleration in fiscal second-half 2026.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Nuclear power orders grew approximately 50% excluding acquisitions in fiscal Q2 2026, with about half of the dollar increase coming from the existing fleet and the other half from small modular reactors. The company benefits from three types of existing-fleet spending: addressing deferred maintenance and spare parts, plant life extensions and power uprates, and digital transformation. About 80% of nuclear power revenue comes from operating plants, while backlog growth in this core business approached 40% year over year.
Reported revenue rose 19.7% to $266.8 million, but organic growth was only 1%. About 18 percentage points of growth came from acquisitions, particularly Paragon, which posted revenue growth of 15% during the quarter and 27% during fiscal first-half 2026. Therefore, the expected organic improvement depends on converting nuclear power and RTQA orders into revenue during fiscal second-half 2026.
Mirion recorded $49 million in orders related to small modular reactors in fiscal Q2 2026, up $42 million from the comparable quarter. The wins included a large order at Paragon and a second portion of another order, while Mirion, Paragon, and Certrec participated in the four designs under the U.S. Department of Energy's reactor pilot program. Management did not provide a specific fiscal 2027 revenue figure, but said the opportunities in this business are expanding and that it expects the business to grow faster than total organic growth in its long-term planning.
Automated analysis for informational purposes only — not investment advice.
Organic revenue in the Medical segment declined 1% in fiscal Q2 2026 because of nuclear medicine and dosimetry, with a nuclear medicine equipment order delayed and the difficult comparison with a large equipment order in fiscal 2025 continuing. Management lowered its nuclear medicine outlook to mid-single-digit growth and lowered its dosimetry outlook to an organic contraction in fiscal 2026. In contrast, it raised its RTQA outlook to double-digit growth due to the OEM and software businesses and kept the overall Medical segment guidance unchanged.
First-half results, together with orders expected to convert into revenue in the second half, represent about 81% of expected annual revenue. Management said this coverage is comparable with levels in previous years, while Peaks revenue does not appear in backlog because it is booked and recognized within the quarter. Nevertheless, the plan requires organic growth to accelerate to a range of 7.5%–11.2% in the second half, with order execution and winning additional business remaining part of what is required.
The company generated $49 million in adjusted free cash flow in fiscal Q2 2026, bringing the first-half total to $60 million. It spent about $25 million to repurchase approximately 1.4 million shares during the quarter, and total repurchases since the beginning of fiscal 2026 reached about $40 million, with $40 million remaining under the program. Acquisitions remain management's top priority, while it estimated that leverage could decline to about 2.5 times by the end of fiscal 2026 if it does not complete additional acquisitions during the remainder of the year.
