Mirion Technologies, Inc. (MIR) Stock Price & How to Invest

Mirion Technologies (NYSE: MIR) designs and sells radiation detection, measurement, analysis and monitoring products across two segments: Nuclear & Safety, which serves nuclear power plants, defense, research labs and industrial customers, and Medical, which supports cancer-care delivery, medical diagnostics and practitioner radiation safety. The company came public through a 2021 SPAC merger and describes itself as the only pure-play public company of its scale in radiation measurement, giving investors combined exposure to the nuclear energy revival and advanced medical applications. Much of its value sits in a large installed base of equipment, dosimetry services and recurring aftermarket revenue.

The investment picture is a growth-and-backlog story running ahead of reported bottom-line profits. Revenue is expanding at a double-digit pace, helped by nuclear power demand and acquisitions such as Paragon and Certrec, and backlog has climbed past $1.1 billion. At the same time, Mirion carries meaningful debt, high interest costs and a history of GAAP net losses, so the case rests heavily on adjusted EBITDA, free cash flow conversion and continued order momentum rather than clean accounting earnings.

Mirion has a history of GAAP net losses, and reported earnings remain thin relative to its valuation, so much of the story depends on adjusted figures. The balance sheet carries meaningful debt (around $1.2 billion) and interest expense, which pressures net income and adds sensitivity to rates. Growth leans on acquisitions, creating integration, goodwill and execution risk. Nuclear project timing can be lumpy and dependent on government funding and utility capital budgets, and a large share of revenue ties to a niche end market. The shares have been volatile, down meaningfully year to date at points in 2026 even after strong quarterly orders.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Mirion Technologies, Inc.'s investor relations page or your broker.

• Revenue (FY2025): ~$925M
• Revenue (Q1 2026): ~$258M (+27.5% YoY)
• 2026 rev growth guidance: ~22% to 24%
• 2026 Adj. EBITDA guidance: ~$285M to $300M
• 2026 Adj. EPS guidance: ~$0.48 to $0.55
• Market cap: ~$4B

Mirion trades as a growth-oriented industrial where adjusted EBITDA and free cash flow, not GAAP EPS, anchor most valuation work given ongoing net losses and heavy interest costs. Backlog above $1.1 billion and double-digit order growth support the multiple, but roughly $1.2 billion of debt keeps leverage in focus. Reported figures vary by source and date, so confirm current numbers before relying on them.

There are three common ways to get MIR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so MIR sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where MIR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

Mirion is a niche, nuclear-levered radiation-measurement company with strong orders and backlog, weighed against thin GAAP earnings and a leveraged balance sheet.

Whether MIR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MIR a buy?, and where the stock could go from here in the MIR stock forecast.

For income investors, whether MIR pays a dividend and how the payout looks is covered in does MIR pay a dividend?