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Scientific & technical instruments · Technology · Fiscal year ends Dec 31
Mirion Technologies reported revenue of $925M in the fiscal year ended Dec 2025, up 7.5% from the year before. Operating income was $52M, an operating margin of 5.6%, and net income was $29M. Operating cash flow of $143M less capital expenditure of $36M left free cash flow of $107M. Net debt was $32M.
Ranks among the 19 scientific & technical instruments companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | – | 718 | 801 | 861 | 925 |
| Cost of revenue | – | 408 | 445 | 461 | 487 |
| Gross profit | – | 310 | 356 | 400 | 439 |
| Research & development | – | 30.3 | 31.7 | 35.0 | 38.9 |
| Selling, general & admin | – | 362 | 340 | 341 | 348 |
| Operating income | – | −298 | −21.9 | 24.8 | 51.5 |
| Interest expense | – | – | 61.9 | 57.9 | 42.2 |
| Pre-tax income | – | −307 | −105 | −33.9 | 32.7 |
| Income tax | – | −18.2 | −6.6 | 2.7 | 2.9 |
| Net income | −158 | −277 | −96.9 | −36.1 | 28.8 |
| Diluted EPS | – | −1.53 | −0.49 | −0.18 | 0.11 |
| Diluted shares | – | 181 | 196 | 205 | 261 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 84.0 | 73.5 | 129 | 175 | 412 |
| Receivables | 157 | 171 | 172 | 178 | 182 |
| Inventory | 124 | 143 | 144 | 133 | 153 |
| Current assets | 453 | 481 | 539 | 595 | 894 |
| Net PP&E | 124 | 124 | 135 | 146 | 155 |
| Goodwill | 1,663 | 1,418 | 1,448 | 1,426 | 1,872 |
| Total assets | 3,118 | 2,739 | 2,719 | 2,636 | 3,588 |
| Payables | 59.4 | 67.7 | 58.7 | 56.5 | 57.4 |
| Deferred revenue | 73.0 | 83.0 | 41.1 | 96.6 | 112 |
| Current liabilities | 221 | 244 | 266 | 263 | 316 |
| Short-term debt | 3.9 | 5.3 | 1.2 | 1.2 | 1.6 |
| Long-term debt | 807 | 802 | 685 | 685 | 443 |
| DepositsBanks | 8.8 | 8.5 | 8.5 | 14.3 | 19.5 |
| Total liabilities | 1,334 | 1,272 | 1,169 | 1,077 | 1,671 |
| Shareholders' equity | 1,693 | 1,398 | 1,485 | 1,506 | 1,866 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | – | 39.4 | 95.2 | 99.1 | 143 |
| Capital expenditure | – | 34.2 | 37.1 | 48.8 | 36.4 |
| Free cash flow | – | 5.2 | 58.1 | 50.3 | 107 |
| Depreciation & amortisation | – | 175 | 163 | 150 | 138 |
| Stock-based compensation | – | 31.8 | 21.9 | 15.6 | 15.2 |
| Acquisitions | – | 6.6 | 31.4 | 1.0 | 662 |
| Share buybacks | – | 0.0 | 0.0 | 0.0 | 49.6 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | 11.6% | 7.5% | 7.5% |
| Operating income growth (YoY) | – | – | – | – | 107.7% |
| Gross margin | – | 43.2% | 44.5% | 46.4% | 47.4% |
| Operating margin | – | −41.5% | −2.7% | 2.9% | 5.6% |
| Net margin | – | −38.6% | −12.1% | −4.2% | 3.1% |
| Return on equityBlank when equity is negative | −9.4% | −19.8% | −6.5% | −2.4% | 1.5% |
| ROCEEBIT ÷ (assets − current liabilities) | – | −11.9% | −0.9% | 1.0% | 1.6% |
| Free cash flow margin | – | 0.7% | 7.3% | 5.8% | 11.6% |
| Cash conversion (CFO ÷ net income) | – | −0.14x | −0.98x | −2.75x | 4.98x |
| Receivable days | – | 87 | 79 | 75 | 72 |
| Inventory days | – | 128 | 118 | 105 | 114 |
| Payable days | – | 61 | 48 | 45 | 43 |
| Interest cover | – | – | −0.35x | 0.43x | 1.22x |
| Debt ÷ equity | 0.48x | 0.58x | 0.46x | 0.46x | 0.24x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 727 | 733 | 557 | 511 | 32.4 |
| Current ratio | 2.05x | 1.97x | 2.03x | 2.26x | 2.83x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.