MLR vs. NGS

Last updated Jun 3, 2026

MLR (Miller Industries, Inc.) and NGS (Natural Gas Services Group, Inc.) are both stocks. MLR operates in Auto Parts (Consumer Cyclical), while NGS operates in Oil & Gas Equipment & Services (Energy). Over the past 10 years, MLR returned 11.06%/yr vs 7.21%/yr for NGS. At a 0.26 correlation, their price movements are largely independent.

Performance

MLR vs. NGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Miller Industries, Inc. (MLR) and Natural Gas Services Group, Inc. (NGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLR achieves a 31.76% return, which is significantly higher than NGS's 22.36% return. Over the past 10 years, MLR has outperformed NGS with an annualized return of 11.06%, while NGS has yielded a comparatively lower 7.21% annualized return.

MLR

• 1D: 3.54%
• 1M: 2.46%
• YTD: 31.76%
• 6M: 30.78%
• 1Y: 10.93%
• 3Y*: 14.56%
• 5Y*: 5.37%
• 10Y*: 11.06%

NGS

• 1D: 3.70%
• 1M: -0.58%
• YTD: 22.36%
• 6M: 34.25%
• 1Y: 72.96%
• 3Y*: 59.74%
• 5Y*: 30.41%
• 10Y*: 7.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MLR vs. NGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLR Miller Industries, Inc.	31.76%	-41.73%	56.58%	61.77%	-17.93%	-10.51%	4.82%	40.68%	7.49%	0.32%
NGS Natural Gas Services Group, Inc.	22.36%	26.53%	66.67%	40.31%	9.46%	10.44%	-22.68%	-25.43%	-37.25%	-18.51%

Correlation

The correlation between MLR and NGS is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Oct 23, 2002	0.26

The correlation between MLR and NGS shifts across timeframes, from 0.18 (1 year) to 0.29 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MLR : $562.45M NGS : $521.44M
EPS MLR : $1.34 NGS : $1.72
PE Ratio MLR : 36.42 NGS : 23.77
PEG Ratio MLR : 0.93 NGS : 0.12
PS Ratio MLR : 0.76 NGS : 2.89
PB Ratio MLR : 1.35 NGS : 1.86
Total Revenue (TTM) MLR : $744.73M NGS : $179.40M
Gross Profit (TTM) MLR : $112.13M NGS : $87.76M
EBITDA (TTM) MLR : $33.28M NGS : $69.86M

Return for Risk

MLR vs. NGS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MLR

MLR Risk / Return Rank: 50
MLR Sharpe Ratio Rank: 54
MLR Sortino Ratio Rank: 47
MLR Omega Ratio Rank: 45
MLR Calmar Ratio Rank: 51
MLR Martin Ratio Rank: 51

NGS

NGS Risk / Return Rank: 88
NGS Sharpe Ratio Rank: 89
NGS Sortino Ratio Rank: 84
NGS Omega Ratio Rank: 84
NGS Calmar Ratio Rank: 91
NGS Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MLR vs. NGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Miller Industries, Inc. (MLR) and Natural Gas Services Group, Inc. (NGS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MLR	NGS	Difference
Sharpe ratio Return per unit of total volatility	0.38	2.24	-1.86
Sortino ratio Return per unit of downside risk	0.73	2.70	-1.98
Omega ratio Gain probability vs. loss probability	1.09	1.36	-0.27
Calmar ratio Return relative to maximum drawdown	0.45	4.87	-4.43
Martin ratio Return relative to average drawdown	0.94	14.52	-13.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLR vs. NGS - Sharpe Ratio Comparison

The current MLR Sharpe Ratio is 0.38, which is lower than the NGS Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of MLR and NGS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MLR	NGS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	2.24	-1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.69	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.16	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.20	-0.08

Drawdowns

MLR vs. NGS - Drawdown Comparison

The maximum MLR drawdown since its inception was -98.14%, which is greater than NGS's maximum drawdown of -89.59%. Use the drawdown chart below to compare losses from any high point for MLR and NGS.

Drawdown Indicators

	MLR	NGS	Difference
Max Drawdown Largest peak-to-trough decline	-98.14%	-89.59%	-8.55%
Max Drawdown (1Y) Largest decline over 1 year	-22.80%	-15.00%	-7.80%
Max Drawdown (3Y) Largest decline over 3 years	-52.70%	-40.89%	-11.81%
Max Drawdown (5Y) Largest decline over 5 years	-52.70%	-40.89%	-11.81%
Max Drawdown (10Y) Largest decline over 10 years	-53.25%	-87.91%	+34.66%
Current Drawdown Current decline from peak	-35.36%	-6.12%	-29.24%
Average Drawdown Average peak-to-trough decline	-69.64%	-47.49%	-22.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.87%	5.04%	+5.83%

Volatility

MLR vs. NGS - Volatility Comparison

The current volatility for Miller Industries, Inc. (MLR) is 8.30%, while Natural Gas Services Group, Inc. (NGS) has a volatility of 11.89%. This indicates that MLR experiences smaller price fluctuations and is considered to be less risky than NGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLR	NGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.30%	11.89%	-3.59%
Volatility (6M) Calculated over the trailing 6-month period	19.29%	22.26%	-2.97%
Volatility (1Y) Calculated over the trailing 1-year period	29.20%	32.74%	-3.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.60%	44.04%	-13.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.94%	46.25%	-15.31%

Dividends

MLR vs. NGS - Dividend Comparison

MLR's dividend yield for the trailing twelve months is around 1.68%, more than NGS's 1.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLR Miller Industries, Inc.	1.68%	2.14%	1.16%	1.70%	2.70%	2.16%	1.89%	1.94%	2.67%	2.79%	2.57%	2.94%
NGS Natural Gas Services Group, Inc.	1.15%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

MLR vs. NGS - Profitability Comparison

The chart below illustrates the profitability comparison between Miller Industries, Inc. and Natural Gas Services Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MLR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Miller Industries, Inc. reported a gross profit of 25.68M and revenue of 180.86M. Therefore, the gross margin over that period was 14.2%.

NGS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Natural Gas Services Group, Inc. reported a gross profit of 30.25M and revenue of 48.47M. Therefore, the gross margin over that period was 62.4%.

MLR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Miller Industries, Inc. reported an operating income of 1.73M and revenue of 180.86M, resulting in an operating margin of 1.0%.

NGS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Natural Gas Services Group, Inc. reported an operating income of 13.07M and revenue of 48.47M, resulting in an operating margin of 27.0%.

MLR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Miller Industries, Inc. reported a net income of 555.00K and revenue of 180.86M, resulting in a net margin of 0.3%.

NGS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Natural Gas Services Group, Inc. reported a net income of 6.76M and revenue of 48.47M, resulting in a net margin of 14.0%.

Frequently Asked Questions

Can I hold both MLR and NGS in my portfolio?

MLR and NGS have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLR or NGS?

NGS has higher volatility (11.89%) compared to MLR (8.30%). In terms of maximum drawdown, MLR dropped -98.14% vs NGS's -89.59%.

Which has better risk-adjusted returns?

NGS currently has the higher Sharpe Ratio (2.24 vs 0.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.