Mirion Technologies Inc

Mirion Technologies has seen its stock price fall 20.3% over the past six months to $18.93 per share, but the company’s fundamentals remain strong. Sales grew at a 10.8% compounded annual rate over the last five years, outpacing the average business services company. Adjusted operating margin rose by 10.5 percentage points over the same period, reaching 7.9% for the trailing 12 months. Free cash flow margin expanded by 8.7 percentage points, hitting 9.1% for the trailing 12 months, giving the company more financial flexibility.

Paragon, a Mirion Technologies company, has been awarded a contract by NuScale Power to complete final design development of its Highly Integrated Protection System for the NuScale Power Module. The contract covers non-recurring engineering and design deliverables for three critical instrumentation and control systems: the Module Protection System, the Safety Data Interface System, and the Plant Protection System, along with Independent Verification and Validation services for the Module Protection System. NuScale already has certain components of 12 power modules in production, and plants deploying these modules are expected to feature one common control room supporting up to 12 modules, each capable of generating up to 77 megawatts of clean power. NuScale's design is the first and only small modular reactor to be approved by the U.S. Nuclear Regulatory Commission. The HIPS platform was purpose-built for next-generation reactor designs and received NRC Safety Evaluation Report approval of its topical report in 2017, co-developed with NuScale.