0001628280-26-050171
SEC filingMirion二季度营收增长19.7%至2.668亿美元，调整后EBITDA增长27.5%，业绩强劲。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $266.8M | $222.9M | +19.7% |
| Gross Margin | 49.9% | 46.0% | +3.9pp |
| Operating Income | $17.9M | $9.9M | +80.8% |
| Net Income (GAAP) | $8.1M | $8.5M | -4.7% |
| Diluted EPS (GAAP) | $0.03 | $0.03 | 持平 |
| Adjusted EBITDA | $65.3M | $51.2M | +27.5% |
| Adjusted EBITDA Margin | 24.5% | 23.0% | +1.5pp |
| Adjusted EPS | $0.12 | $0.11 | +9.1% |
| Orders (excl. acquisitions) | $229M | $208M | +10% |
| Orders (incl. acquisitions) | $291M | — | +40% |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Revenue Growth | 22.0% – 24.0% | 含汇率及收购利好 |
| FY2026 | Organic Revenue Growth | 5.0% – 7.0% | 非GAAP |
| FY2026 | Adjusted EBITDA | $285M – $300M | 非GAAP |
| FY2026 | Adjusted EBITDA Margin | 25.0% – 26.0% | 非GAAP |
| FY2026 | Adjusted Free Cash Flow | $155M – $175M | 非GAAP |
| FY2026 | Adjusted Free Cash Flow Conversion | 54% – 58% of Adjusted EBITDA | 非GAAP |
| FY2026 | Adjusted EPS | $0.48 – $0.55 | 非GAAP |
简评
Mirion 二季度营收同比增长19.7%至2.668亿美元，主要受收购Paragon和Certrec带来的增量贡献推动。毛利率从46.0%提升至49.9%，经营利润率从4.4%升至6.7%，调整后EBITDA利润率从23.0%升至24.5%，显示两大业务部门均实现利润率扩张。GAAP净利润小幅下降4.7%至810万美元，主要受利息费用及外汇波动影响，但调整后净利润从2620万美元增至3220万美元，调整后EPS从0.11美元升至0.12美元。订单增长强劲，含收购订单同比增长40%，CEO Thomas Logan表示"captured several large opportunity orders in the second quarter with substantial opportunity available for the rest of the year"。
公司重申2026年全年指引，营收增长约22%-24%，有机营收增长约5%-7%，调整后EBITDA为2.85亿-3亿美元，调整后EPS为0.48-0.55美元。管理层强调"well-positioned for second half 2026 accelerated revenue growth"，同时调整Medical部门终端市场构成。资产负债表方面，现金及现金等价物为4.187亿美元，总债务（含可转债）约12亿美元。上半年经营现金流为7740万美元，同比增长61%，自由现金流改善明显。公司未披露股息或回购计划。