Mirion Technologies combines industry-leading 28% revenue growth and exceptional 271% free cash flow conversion with a confirmed technical downtrend and 19% short interest — the gap between fundamental quality and current price is wide, but near-term catalysts are needed to close it.
Thesis pillars
- Analyst Upside Risk Reward↓Deteriorating
- Exceptional Cash Conversion↓Deteriorating
- Industry Leading Revenue Growth↑Improving
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 19, 2026
Mirion Technologies, Inc. (MIR) Stock Analysis
Momentum Cont setup
Industrials · Specialty Industrial Machinery
Sell if holding. At $18.67, A.R:R 0.7:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 9.7%; Concentration risk — Supplier: sole or limited source suppliers.
Mirion Technologies provides radiation detection, measurement, and monitoring products, software, and services across two segments — Nuclear & Safety and Medical — operating in 12 countries. The company sells to nuclear power plants (present in over 98% globally), cancer centers... Read more
Sell if holding. At $18.67, A.R:R 0.7:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 9.7%; Concentration risk — Supplier: sole or limited source suppliers. Chart setup: Trend continuation, RSI 65, MACD bullish. Score 5.7/10, moderate confidence.
Passes 5/8 gates (positive momentum, clean insider activity, earnings proximity 102d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About Mirion Technologies, Inc.
About Mirion Technologies, Inc.
Mirion Technologies' Nuclear & Safety and Medical segments drew approximately 48% of fiscal 2025 net sales from customers in the United States and Canada, 33% from Europe, and 17% from Asia Pacific, with the company's radiation monitoring solutions installed in more than 98% of nuclear power plants globally. Mirion closed two acquisitions in 2025: Certrec in July (regulatory compliance software for the nuclear sector) and Paragon Energy Solutions in December (obsolescence and parts availability for NPPs), both integrated into Nuclear & Safety.
The Nuclear & Safety segment serves the full lifecycle of nuclear power plants — construction, operation, decommissioning — as well as laboratories, defense forces including 23 of 32 NATO militaries, and industrial end markets. Over 80% of Nuclear & Safety's power end-market revenue comes from the installed base of existing NPPs, driving replacement and service cycles tied to the 40- to 100-year operating life of a nuclear plant. The Medical segment serves cancer centers with radiation therapy quality assurance systems and nuclear medicine tools, and provides dosimetry services badging over one million wearers globally. Service revenue represented 25.4% of consolidated revenue in fiscal 2025, providing a recurring revenue base. The company relies on third-party suppliers including sole or limited-source providers for certain components, exposing it to supply disruption risk; sales cycles for NPP new-build projects range from 12 to 60 or more months.
Show full overview
A substantial portion of Mirion's U.S. revenue comes from contracts with U.S. governmental customers or their contractors — including the Departments of Energy, State, Defense, and Homeland Security — making government budget cycles and procurement timelines a key driver of order flow. Escalation of U.S. or EU sanctions targeting Russian state-owned enterprises involved in nuclear construction could further complicate revenue recognition in the nuclear segment; the company has already experienced delayed contract payments and export license requirements in Russia and will continue to navigate a complex sanctions regime.
See also: Industrials · Specialty Industrial Machinery
From Mirion Technologies, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-10-30Recent Developments — Mirion Technologies, Inc.
Latest news
- NEWS Mirion Technologies, Inc. (MIR) Q1 earnings meet estimates - MSN — MSN neutral
- NEWS Mirion Technologies (MIR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates - Yahoo Finance — Yahoo Finance positive
- NEWS MIR Mirion Technologies posts 6.9% Q4 2025 EPS miss against estimates, shares fall 1.68% in today’s trading. - Cổng thôn — Cổng thông tin điện tử Tỉnh Sơn La negative
- NEWS Studio Mir Unveils Main Trailer for "Devil May Cry" Season 2... Global Release on May 12 - 아시아경제 — 아시아경제 neutral
- NEWS Here's What Key Metrics Tell Us About Mirion Technologies (MIR) Q2 Earnings - Yahoo Finance — Yahoo Finance neutral
Generated 2026-10-30T11:22:45Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMGeographicUnited States and Canada48%10-K Item 1: 'Sales to customers inside the United States and Canada accounted for approximately 48% of total revenue for fiscal 2025'
- MEDIUMGeographicEurope33%10-K Item 1: 'an additional 33% and 17% of total revenue accounted for by sales to customers in Europe and Asia Pacific respectively'
- LOWGeographicAsia Pacific17%10-K Item 1: 'an additional 33% and 17% of total revenue accounted for by sales to customers in Europe and Asia Pacific respectively'
- HIGHSuppliersole or limited source suppliers10-K Item 1A: 'We rely on third party suppliers for our manufacturing operations including from sole or limited source suppliers'
- MEDIUMCustomerU.S. governmental customers10-K Item 1A: 'We derive a substantial portion of our U.S. revenue from contracts with U.S. governmental customers or their contractors'
Material Events(8-K, last 90d)
- 2026-04-13Item 5.02LOWApril 9, 2026: Board approved a special one-time grant of 2,500,000 performance vesting stock options (7-year term) to CEO Thomas Logan, vesting based on continued service and total shareholder return relative to the Russell 2000 Index over 3- and 4-year performance periods.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $18.67, A.R:R 0.7:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 9.7%; Concentration risk — Supplier: sole or limited source suppliers. Chart setup: Trend continuation, RSI 65, MACD bullish. Prior stop was $17.36. Score 5.7/10, moderate confidence.
Analyst target: $20.48 (+9.7% upside). Prior stop was $17.36. Stop-loss: $17.36.
Concentration risk — Supplier: sole or limited source suppliers; Thin upside margin: 9.7%; V7 low-quality RISK_OFF penalty: -0.5 (Q=4.3).
Mirion Technologies, Inc. trades at a P/E of 169.7 (forward 27.9). TrendMatrix value score: 4.1/10. Verdict: Sell.
15 analysts cover MIR with a consensus score of 4.1/5. Average price target: $24.
What does Mirion Technologies, Inc. do?Mirion Technologies provides radiation detection, measurement, and monitoring products, software, and services across...
Mirion Technologies provides radiation detection, measurement, and monitoring products, software, and services across two segments — Nuclear & Safety and Medical — operating in 12 countries. The company sells to nuclear power plants (present in over 98% globally), cancer centers (over 80% worldwide), and 23 of 32 NATO militaries, with service revenue at approximately 25% of consolidated revenue in fiscal 2025.