$47.94
-1.7%Miller Industries, Inc., together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flatbed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment. It also provides transport trailers for moving various vehicles for auto auctions, car dealerships, leasing companies, and other related applications. The company markets its products under the Century, Challenger, Holmes, Champion, Eagle, Titan, Jige, Boniface, Vulcan, and Chevron brands. Miller Industries, Inc. sells its products through independent distributors in the United States, Canada, Mexico, Europe, the Pacific Rim, the Middle East, South America, and Africa; and through prime contractors to governmental entities. The company was incorporated in 1990 and is based in Ooltewah, Tennessee.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $197.4M | $394.9M | $789.8M | $1.6B | $3.2B | $6.3B | $12.6B | $25.3B | $50.5B | $101.1B |
| Maintenance CapEx | -$5.5M | -$11.0M | -$21.9M | -$43.9M | -$87.7M | -$175.4M | -$350.9M | -$701.8M | -$1.4B | -$2.8B |
| Owner Earnings | $192.0M | $383.9M | $767.8M | $1.5B | $3.1B | $6.1B | $12.3B | $24.6B | $49.1B | $98.3B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $177.7M | $329.1M | $609.5M | $1.1B | $2.1B | $3.9B | $7.2B | $13.3B | $24.6B | $45.5B |
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.