Miller Industries vs Freightcar America
Miller Industries is the larger business, with $790m of revenue in fiscal 2025 against $501m for Freightcar America (1.6 times as much). Freightcar America grew faster (-10.4% against -37.2%). Freightcar America kept more of each dollar of sales as profit: a net margin of 7.4% against 2.9%.
| Latest fiscal year | Miller IndustriesMLR, 2025 | Freightcar AmericaRAIL, 2025 |
|---|---|---|
| Revenue | $790m | $501m |
| Revenue growth | -37.2% | -10.4% |
| Net income | $23.0m | $36.9m |
| Operating margin | — | — |
| Net margin | 2.9% | 7.4% |
| Return on equity | 5.6% | — |
| Free cash flow | $85.0m | $31.4m |
| Cash | $44.7m | $64.3m |
| Total debt | $33.3m | $112m |
| Debt to equity | 7.9% | — |
| Dividend per share | $0.80 | — |
| Dividend yield | 1.6% | — |
| Share buybacks | $6.0m | — |
| Employees | 1,535 | 2,030 |
| Market value | $596m | $137m |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 48 (Moderate) | 24 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |