MLR
Miller Industries, Inc.
MLR has a slight edge over RIVN overall, supported by stronger modeled upside and lower modeled downside.
RIVN
Rivian Automotive, Inc.
RIVN offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
MLR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Strong | |
| Strong |
MLR's cash flow and balance sheet are currently strong, and its revenue and profitability are stable.
RIVN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
RIVN's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
MLR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.6x | $14.45 | -70% |
| Fair | 14x | $20.88 | -57% |
| Forward | 17x | $48.71 | — |
| Expensive | 21x | $31.75 | -35% |
| Current | 32x | $48.71 | — |
Historical ranges are pointers, not guarantees.
MLR's PE is in its expensive range at 32x. If earnings grow as analysts expect, today's price would be 17x next year's earnings.
RIVN PE Valuation
RIVN has no meaningful PE right now: it lost money over the past year.
MLR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for MLR, with profitability improving.
RIVN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect RIVN's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
MLR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.85 | +90% |
| Q3 2026 | $1.50 | -42% |
| Q2 2026 | $1.24 | -66% |
| Q1 2026 | $1.34 | -71% |
| Q4 2025 | $1.98 | -64% |
| Q3 2025 | $2.58 | -57% |
| Q2 2025 | $3.64 | -41% |
| Q1 2025 | $4.69 | -18% |
| Q4 2024 | $5.47 | +7.9% |
MLR has the edge over RIVN on earnings quality, reporting a profit while its opponent remains loss making.
RIVN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.25 | +$0.83 |
| Q2 2026 | -$2.58 | +$0.62 |
| Q1 2026 | -$2.92 | +$0.77 |
| Q4 2025 | -$3.07 | +$1.62 |
| Q3 2025 | -$3.08 | +$2.52 |
| Q2 2025 | -$3.20 | +$2.76 |
| Q1 2025 | -$3.69 | +$2.08 |
| Q4 2024 | -$4.69 | +$1.05 |
RIVN is still losing money, but far less than before: $2.25 per share over the past year, against $7.40 at its worst in late 2022.
MLR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $212.2M | +19% |
| Q2 2026 | $240M | +12% |
| Q1 2026 | $180.9M | -20% |
| Q4 2025 | $171.9M | -23% |
| Q3 2025 | $178.7M | -43% |
| Q2 2025 | $214M | -42% |
| Q1 2025 | $225.7M | -36% |
| Q4 2024 | $221.9M | -25% |
MLR's revenue is recovering but still below its 2024 peak: $212M last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | +1.1 points |
| Q2 2026 | 4.2% | -1.1 points |
| Q1 2026 | 0.9% | -3.9 points |
| Q4 2025 | 2.9% | -2.8 points |
| Q3 2025 | 2.4% | -3.9 points |
| Q2 2025 | 5.3% | -1.8 points |
| Q1 2025 | 4.8% | -1.4 points |
| Q4 2024 | 5.7% | -1.4 points |
MLR has the edge over RIVN on profitability, with a higher operating margin.
RIVN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +38% |
| Q2 2026 | $1.7B | +27% |
| Q1 2026 | $1.4B | +11% |
| Q4 2025 | $1.3B | -26% |
| Q3 2025 | $1.6B | +78% |
| Q2 2025 | $1.3B | +13% |
| Q1 2025 | $1.2B | +3% |
| Q4 2024 | $1.7B | +32% |
RIVN has the edge over MLR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -41% | +22 points |
| Q2 2026 | -50% | +35 points |
| Q1 2026 | -64% | -11 points |
| Q4 2025 | -65% | -27 points |
| Q3 2025 | -63% | +71 points |
| Q2 2025 | -86% | +33 points |
| Q1 2025 | -53% | +70 points |
| Q4 2024 | -38% | +82 points |
RIVN's operating margin was −41% last quarter, up 22 points from the same quarter a year ago, near the top of its range since 2021.
MLR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $13.7M | -25% |
| Q2 2026 | $28M | +9.7% |
| Q1 2026 | $22.8M | +$25.2M |
| Q4 2025 | $43.8M | +$56.7M |
| Q3 2025 | $18.1M | -25% |
| Q2 2025 | $25.6M | +$39.4M |
| Q1 2025 | -$2.4M | -156% |
| Q4 2024 | -$13M | -396% |
MLR has the edge over RIVN on cash generation, producing positive trailing cash flow while its opponent burns cash.
RIVN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1B | -$703M |
| Q2 2026 | -$849M | -$451M |
| Q1 2026 | -$1.1B | -$549M |
| Q4 2025 | -$1.1B | -234% |
| Q3 2025 | -$421M | +$732M |
| Q2 2025 | -$398M | +$639M |
| Q1 2025 | -$526M | +$997M |
| Q4 2024 | $856M | +$2.3B |
RIVN has burned cash in almost every quarter: −$4.2B over the past year, against −$489M the year before.
MLR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -36.5K shares |
| 1 year | -0.9% | -110K shares |
| 3 years | -0.3% | -30K shares |
| 5 years | +0.6% | +74K shares |
| Available history | +0.7% | +85K shares |
MLR has the edge over RIVN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2.7M |
| Q2 2026 | $2.5M |
| Q1 2026 | $2.2M |
| Q4 2025 | $2.2M |
| Q3 2025 | $1.2M |
| Q2 2025 | $500,000 |
| Q1 2025 | $2.1M |
| Q4 2024 | — |
MLR spent $10M buying back its own shares over the past year, up 155% from the year before.
RIVN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.1% | +121M shares |
| 1 year | +19% | +226M shares |
| 3 years | +52% | +494M shares |
RIVN has 1.4B diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $6M |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
MLR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.4x | Net Cash |
| Q2 2026 | -1.4x | Net Cash |
| Q1 2026 | -0.8x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.4x | Very low |
MLR has more cash than debt.
RIVN Net Leverage
RIVN's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
MLR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.5 | Neutral |
| Stochastic | 20.2 | Neutral |
MLR's weekly RSI is 45 (neutral) and its Stochastic is 20 (neutral).
RIVN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.5 | Neutral |
| Stochastic | 25.6 | Neutral |
RIVN's weekly RSI is 41 (neutral) and its Stochastic is 26 (neutral).
MLR PE vs Consumer Cyclical Sector
| Metric | MLR | Sector median | Relative |
|---|---|---|---|
| PE | 32x | 18x | 80% above |
| PE % | 93 | 47 | 46 pts above |
MLR is trading at 32x earnings, a 80% premium to the Consumer Cyclical sector's median of 18x.
RIVN PE vs Consumer Cyclical Sector
RIVN has no meaningful PE right now: it lost money over the past year.
MLR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $51.2 | 4.9% below |
| 20 week MA | $52.5 | 7.1% below |
| 50 week MA | $47.6 | 2.4% above |
| 100 week MA | $47.3 | 3% above |
| 200 week MA | $46.8 | 4.2% above |
MLR has the edge over RIVN on trend strength, trading above more of its moving averages.
RIVN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.3 | 3.9% below |
| 20 week MA | $15.1 | 15% below |
| 50 week MA | $15.9 | 19% below |
| 100 week MA | $14.7 | 13% below |
| 200 week MA | $15.1 | 15% below |
RIVN is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-week average.
MLR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $37.2 | $36.8 | -1% |
| 2021 | $36.8 | $32.5 | -12% |
| 2022 | $32.5 | $26.4 | -19% |
| 2023 | $26.4 | $42.3 | +60% |
| 2024 | $42.3 | $65.7 | +55% |
| 2025 | $65.7 | $38.2 | -42% |
| 2026 YTD | $38.2 | $48.7 | +28% |
MLR has the edge over RIVN on returns for 2026, with the stronger performance.
RIVN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $130.0 | $96.8 | -25% |
| 2022 | $96.8 | $19.1 | -80% |
| 2023 | $19.1 | $23.5 | +23% |
| 2024 | $23.5 | $13.7 | -42% |
| 2025 | $13.7 | $20.9 | +53% |
| 2026 YTD | $20.9 | $12.8 | -39% |
RIVN has finished lower in three of the last five years. It's down 39% so far in 2026.