<div id="readability-page-1"><div><p>David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.'  So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company.  As with many other companies <strong>Mirion Technologies, Inc.</strong> (NYSE:MIR) makes use of debt.  But the real question is whether this debt is making the company risky.</p><p>Trump has pledged to &#34;unleash&#34; American oil and gas and these 15 US stocks have developments that are poised to benefit.</p><h2> What Risk Does Debt Bring? </h2><p> Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price.  Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing.  However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet.  Of course, debt can be an important tool in businesses, particularly capital heavy businesses.  The first thing to do when considering how much debt a business uses is to look at its cash and debt together. </p> <h2> What Is Mirion Technologies's Net Debt? </h2><p> You can click the graphic below for the historical numbers, but it shows that as of September 2025 Mirion Technologies had US$1.20b of debt, an increase on US$685.5m, over one year.    However, because it has a cash reserve of US$939.7m, its net debt is less, at about US$258.7m.  </p><figure><img height="1052" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/836768-debt-equity-history-analysis-1-dark-2/1766590114959?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1642" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/836768-debt-equity-history-analysis-1-dark-2/1766590114959"/><figcaption>NYSE:MIR Debt to Equity History December 24th 2025</figcaption></figure><h2> A Look At Mirion Technologies' Liabilities </h2><p> According to the last reported balance sheet, Mirion Technologies had liabilities of US$287.0m due within 12 months, and liabilities of US$1.32b due beyond 12 months.   Offsetting this, it had US$939.7m in cash and US$269.0m in receivables that were due within 12 months.   So its liabilities total US$395.1m more than the combination of its cash and short-term receivables.  </p><p> Since publicly traded Mirion Technologies shares are worth a total of US$5.60b, it seems unlikely that this level of liabilities would be a major threat.  Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse.  </p><p><span> See our latest analysis for Mirion Technologies </span></p> <p> In order to size up a company's debt relative to its earnings, we calculate its net debt divided by its earnings before interest, tax, depreciation, and amortization (EBITDA) and its earnings before interest and tax (EBIT) divided by its interest expense (its interest cover).  This way, we consider both the absolute quantum of the debt, as well as the interest rates paid on it. </p> <p> Given net debt is only 1.3 times EBITDA, it is initially surprising to see that Mirion Technologies's EBIT has low interest coverage of 1.5 times.  So while we're not necessarily alarmed we think that its debt is far from trivial.        Pleasingly, Mirion Technologies is growing its EBIT faster than former Australian PM Bob Hawke downs a yard glass, boasting a 420% gain in the last twelve months.      The balance sheet is clearly the area to focus on when you are analysing debt.  But it is future earnings, more than anything, that will determine Mirion Technologies's ability to maintain a healthy balance sheet going forward.  So if you're focused on the future you can check out this <strong>free</strong> report showing analyst profit forecasts. </p><p> Finally, a company can only pay off debt with cold hard cash, not accounting profits.   So we always check how much of that EBIT is translated into free cash flow.    Happily for any shareholders, Mirion Technologies actually produced more free cash flow than EBIT over the last two years.  That sort of strong cash conversion gets us as excited as the crowd when the beat drops at a Daft Punk concert.   </p> <h2>Our View</h2><p> Mirion Technologies's conversion of EBIT to free cash flow suggests it can handle its debt as easily as Cristiano Ronaldo could score a goal against an under 14's goalkeeper.   But we must concede we find its interest cover has the opposite effect.      Zooming out, Mirion Technologies seems to use debt quite reasonably; and that gets the nod from us.  After all, sensible leverage can boost returns on equity.    When analysing debt levels, the balance sheet is the obvious place to start.  But ultimately, every company can contain risks that exist outside of the balance sheet.     <strong> We've identified 2 warning signs </strong> with Mirion Technologies , and understanding them should be part of your investment process.   </p> <p> If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this <strong>free</strong> list of growing businesses that have net cash on the balance sheet. </p><div><p>Mobile Infrastructure for Defense and Disaster</p><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p><p>Get the investor briefing before the next round of contracts</p><p><span>Sponsored On Behalf of CiTech</span></p></div></div></div>

<p>Mirion Technologies (NYSE:MIR) has increased its debt to US$1.20b as of September 2025, with a net debt of US$258.7m after accounting for cash reserves. Despite liabilities exceeding cash and receivables by US$395.1m, the company's market value of US$5.60b suggests manageable risk. With net debt at 1.3 times EBITDA and low interest coverage, the debt is not trivial, but strong EBIT growth and cash flow conversion indicate responsible debt management. Monitoring the balance sheet and future earnings is crucial for assessing financial health.</p>

Here's Why Mirion Technologies (NYSE:MIR) Can Manage Its Debt Responsibly