The company maintains a disciplined debt-to-equity ratio of 0.65, though the balance sheet is heavily weighted by $1.9B in goodwill, representing over 54% of total assets.
| Total Current Assets | 890.9M | 897.8M | 594.7M | 538.6M | 480.6M | 453.4M | 389.7M | 5K | 5K |
| Cash & Short-Term Investments | 397.9M | 412.3M | 181.1M | 134.1M | 77.8M | 88.9M | 118.4M | 5K | 5K |
| Cash Only | 397.9M | 412.3M | 175.2M | 128.8M | 73.5M | 84M | 118.4M | 5K | 5K |
| Short-Term Investments | 0 | 0 | 5.9M | 5.3M | 4.3M | 4.9M | 0 | 0 | 0 |
| Accounts Receivable | 280.4M | 280.2M | 244.7M | 230.4M | 225.6M | 219.7M | 156.8M | 0 | 0 |
| Days Sales Outstanding | 100.22 | 110.52 | 103.76 | 105 | 114.72 | 119.99 | - | - | - |
| Inventory | 157.9M | 151.9M | 133.2M | 144.1M | 143.3M | 123.6M | 90.2M | 0 | 0 |
| Days Inventory Outstanding | 105.57 | 113.89 | 105.92 | 118.35 | 130.57 | 117.45 | - | - | - |
| Other Current Assets | 54.7M | 53.4M | 22.5M | 17.9M | 30.7M | 15.9M | 7.6M | 0 | 0 |
| Total Non-Current Assets | 2.65B | 2.69B | 2.04B | 2.18B | 2.23B | 2.66B | 854.1M | 0 | 0 |
| Property, Plant & Equipment | 183.4M | 187M | 176.6M | 167.4M | 164.9M | 169.7M | 75.2M | 0 | 0 |
| Fixed Asset Turnover | 5.31x | 4.95x | 4.87x | 4.78x | 4.35x | 3.94x | - | - | - |
| Goodwill | 1.86B | 1.87B | 1.43B | 1.45B | 1.42B | 1.66B | 522.6M | 0 | 0 |
| Intangible Assets | 576M | 606.3M | 411.6M | 538.8M | 650.4M | 806.9M | 248.3M | 0 | 0 |
| Long-Term Investments | 300K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 25.2M | 24.6M | 26.9M | 26.1M | -116.3M | 25.4M | 8M | 0 | 0 |
| Total Assets | 3.54B | 3.59B | 2.64B | 2.72B | 2.74B | 3.12B | 1.24B | 5K | 5K |
| Asset Turnover | 0.29x | 0.26x | 0.33x | 0.29x | 0.26x | 0.21x | - | 88020.00x | 88820.00x |
| Asset Growth % | 106.72% | 36.12% | -3.03% | -0.74% | -12.16% | 150.68% | 24875900% | 0% | - |
| Total Current Liabilities | 279.2M | 316.1M | 263.5M | 265.7M | 244.3M | 221M | 183.5M | 636 | 295 |
| Accounts Payable | 66.1M | 57.4M | 56.5M | 58.7M | 67.7M | 59.4M | 38.7M | 636 | 295 |
| Days Payables Outstanding | 38.39 | 43.04 | 44.93 | 48.21 | 61.68 | 56.45 | - | 0 | 0 |
| Short-Term Debt | 9.3M | 9.3M | 1.2M | 1.2M | 5.3M | 3.9M | 41.1M | 0 | 0 |
| Deferred Revenue (Current) | 434M | 112.3M | 110.9M | 103.4M | 83M | 81.8M | 0 | 0 | 0 |
| Other Current Liabilities | 95.7M | 137.1M | 16.3M | 49.2M | 36.4M | 36.3M | 57.4M | 0 | 0 |
| Current Ratio | 3.19x | 2.84x | 2.26x | 2.03x | 1.97x | 2.05x | 2.12x | 7.86x | 16.95x |
| Quick Ratio | 2.63x | 2.36x | 1.75x | 1.48x | 1.38x | 1.49x | 1.63x | 7.86x | 16.95x |
| Cash Conversion Cycle | 167.4 | 181.37 | 164.75 | 175.14 | 183.6 | 181 | - | - | - |
| Total Non-Current Liabilities | 1.37B | 1.36B | 813.5M | 902.8M | 1.03B | 1.11B | 1.78B | 636 | 295 |
| Long-Term Debt | 1.2B | 1.22B | 685.2M | 684.7M | 801.5M | 806.8M | 1.66B | 0 | 0 |
| Capital Lease Obligations | 105.1M | 26.8M | 27.1M | 28.2M | 34.4M | 40.6M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 243.5M | 70M | 61.1M | 84M | 116.3M | 161M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 75.5M | 33.9M | 37.1M | 106M | 75M | 104.6M | 119.9M | 0 | 0 |
| Total Liabilities | 1.65B | 1.67B | 1.08B | 1.17B | 1.27B | 1.33B | 1.96B | 636 | 295 |
| Total Debt | 1.23B | 1.26B | 719.9M | 721M | 849.6M | 860.6M | 1.7B | 0 | 0 |
| Net Debt | 836M | 848.2M | 544.7M | 592.2M | 776.1M | 776.6M | 1.58B | -5K | -5K |
| Debt / Equity | 0.65x | 0.66x | 0.46x | 0.47x | 0.58x | 0.48x | - | - | - |
| Debt / EBITDA | 6.44x | 6.65x | 4.11x | 5.12x | - | 19.78x | - | - | - |
| Net Debt / EBITDA | 4.36x | 4.48x | 3.11x | 4.20x | - | 17.85x | - | -0.00x | -0.00x |
| Interest Coverage | 1.48x | 1.77x | 0.49x | -0.22x | -1.65x | -0.33x | - | - | - |
| Total Equity | 1.89B | 1.92B | 1.56B | 1.55B | 1.47B | 1.78B | -716.5M | 4.36K | 4.71K |
| Equity Growth % | 61.17% | 22.95% | 0.59% | 5.64% | -17.76% | 348.99% | -16418523.46% | -7.25% | - |
| Book Value per Share | 7.72 | 7.34 | 7.61 | 7.89 | 8.10 | 8.57 | -4.95 | 0.00 | 0.00 |
| Total Shareholders' Equity | 1.84B | 1.87B | 1.51B | 1.48B | 1.4B | 1.69B | -718.7M | 4.36K | 4.71K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 100K | 2.01K | 2.01K |
| Retained Earnings | -516.1M | -512.7M | -541.5M | -505.4M | -408.5M | -131.6M | -729.7M | -636 | -295 |
| Treasury Stock | -78.1M | -58.4M | -3.2M | -1.3M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -62.6M | -52.6M | -93M | -65.3M | -75.7M | -20.7M | 1.4M | 0 | 0 |
| Minority Interest | 50.2M | 50.5M | 53.5M | 65.5M | 69M | 90.8M | 2.2M | 0 | 0 |
Acquisition-driven intangible asset concentration
As reported in financial statements, Mirion's total assets expanded from $2.8B in 2023Q4 to $3.5B by 2026Q1, a trend largely driven by aggressive inorganic expansion that has fundamentally altered the company's balance sheet composition and increased its reliance on long-term intangible asset valuation.
The expansion of the asset base appears to be a direct consequence of the company's buy-and-build strategy, which has significantly increased the scale of the firm. Investors should monitor whether this growth in assets translates into commensurate returns on invested capital, as the current trajectory suggests a heavy reliance on acquisition-led growth rather than organic asset optimization.
Based on reported figures, Mirion maintained a debt-to-equity ratio of 0.65 in 2026Q1, reflecting a disciplined approach to leverage despite the significant capital outlays required to fund the company's ongoing acquisition strategy throughout the previous ten fiscal quarters.
The stability of the debt-to-equity ratio suggests that management is successfully balancing its growth ambitions with a conservative approach to balance sheet risk. However, the presence of $1.2B in total debt warrants close scrutiny regarding interest rate sensitivity and the potential for future refinancing requirements if cash flow generation remains inconsistent.
According to recent SEC filings, goodwill accounts for $1.9B of the company's $3.5B total assets as of 2026Q1, indicating that a substantial portion of the firm's value is tied to intangible assets acquired through historical business combinations rather than tangible operational infrastructure.
This high concentration of goodwill suggests that the balance sheet is sensitive to potential impairment charges if the acquired business units fail to meet their projected performance targets. The relatively low net PPE of $183.4M further underscores the asset-light nature of the business model, which relies more on intellectual property and regulatory certifications than on physical manufacturing capacity.
As evidenced by the 2026Q1 current ratio of 3.19, Mirion maintains a robust liquidity position, providing a significant buffer against short-term operational shocks despite the inherent volatility in cash flow cycles observed in the company's recent quarterly performance reports.
The improvement in the current ratio from 2.03 in 2023Q4 suggests that the company has successfully strengthened its short-term financial position, likely through improved cash management or capital raises. This liquidity cushion appears sufficient to support ongoing operations and potential integration costs, though investors should remain cautious of the lumpy nature of project-based working capital requirements.
Based on reported financial statements, Mirion continues to carry a significant retained earnings deficit of $516.1M as of 2026Q1, a trend that reflects the cumulative impact of historical losses and the accounting treatment of its complex post-SPAC capital structure.
The persistent negative retained earnings suggest that the company has yet to reach a stage of sustained profitability that would allow for the accumulation of equity through organic earnings. This warrants further investigation into whether this deficit is primarily a result of non-cash amortization charges or if it indicates underlying structural challenges in achieving consistent bottom-line growth.
Quick answers to the most common questions about buying MIR stock.
As of 2025, Mirion Technologies, Inc. (MIR) had total assets of $3.59B including $897.8M in current assets.
Mirion Technologies, Inc. (MIR) carries total debt of $1.26B, offset by $412.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Mirion Technologies, Inc. (MIR) has total shareholders' equity (book value) of $1.87B ($7.34 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Mirion Technologies, Inc. (MIR) reported a current ratio of 2.84x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.