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Mueller Industries, Inc. (MLI) 10-Year Financial Performance & Capital Metrics

MLI • • Industrial / General
IndustrialsMetal FabricationMetal Fabrication & Processing ServicesCustom Metal Fabrication Services
AboutMueller Industries, Inc. manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling. It also resells steel pipes, brass and plastic plumbing valves, malleable iron fittings and faucets, and plumbing specialties; and supplies water tubes. This segment sells its products to wholesalers in the plumbing and refrigeration markets, distributors to the manufactured housing and recreational vehicle industries, building material retailers, and air-conditioning original equipment manufacturers (OEMs). The Industrial Metals segment manufactures brass, bronze, and copper alloy rods; plumbing brass, valves, and fittings; cold-form aluminum and copper products; machining of aluminum, steel, brass, and cast iron impacts and castings; brass and aluminum forgings; brass, aluminum, and stainless-steel valves; fluid control solutions; and gas train assembles to OEMs in the industrial, construction, HVAC, plumbing, and refrigeration markets. The Climate segment offers valves, protection devices, and brass fittings for various OEMs in the commercial HVAC and refrigeration markets; high-pressure components and accessories for the air-conditioning and refrigeration markets; coaxial heat exchangers and twisted tubes for the HVAC, geothermal, refrigeration, swimming pool heat pump, marine, ice machine, commercial boiler, and heat reclamation markets; insulated HVAC flexible duct systems; and brazed manifolds, headers, and distributor assemblies. The company was founded in 1917 and is headquartered in Collierville, Tennessee.Show more
  • Revenue $3.77B +10.2%
  • EBITDA $824M +3.5%
  • Net Income $605M +0.3%
  • EPS (Diluted) 5.32 +0.4%
  • Gross Margin 27.71% -3.9%
  • EBITDA Margin 21.85% -6.1%
  • Operating Margin 20.44% -7.5%
  • Net Margin 16.05% -8.9%
  • ROE 23.43% -18.9%
  • ROIC 38.21% -12.4%
  • Debt/Equity 0.01 -20.2%
  • Interest Coverage 1879.00 +203.5%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Excellent 3Y average ROE of 31.7%
  • ✓Strong 5Y profit CAGR of 43.1%
  • ✓FCF machine: 15.0% free cash flow margin
  • ✓Momentum leader: RS Rating 83 (top 17%)
  • ✓Healthy 5Y average net margin of 13.7%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.77%
5Y9.17%
3Y-0.01%
TTM15.71%

Profit (Net Income) CAGR

10Y19.53%
5Y43.05%
3Y8.89%
TTM27.74%

EPS CAGR

10Y19.44%
5Y42.67%
3Y8.81%
TTM30.1%

ROCE

10Y Avg26.18%
5Y Avg38.15%
3Y Avg39.3%
Latest28.88%

Peer Comparison

Custom Metal Fabrication Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
WORWorthington Industries, Inc.2.7B54.5128.39-7.4%8.46%11%5.89%0.35
MLIMueller Industries, Inc.14.52B130.7624.5810.19%18.1%24.2%3.9%0.01
MECMayville Engineering Company, Inc.385.44M18.9715.30-1.16%2.29%4.99%20.16%0.44
GIFIGulf Island Fabrication, Inc.191.98M12.0013.645.38%5.46%9.66%6.72%0.20
TGTredegar Corporation282.16M8.11-4.314.31%-9.14%-26.61%3.96%0.43
RYIRyerson Holding Corporation960.24M29.81-114.65-9.98%-0.51%-2.86%10.97%1.03

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+2.1B2.06B2.27B2.51B2.43B2.4B3.77B3.98B3.42B3.77B
Revenue Growth %-0.11%-0.02%0.1%0.11%-0.03%-0.01%0.57%0.06%-0.14%0.1%
Cost of Goods Sold+1.81B1.72B1.94B2.15B2.04B1.97B2.94B2.86B2.43B2.72B
COGS % of Revenue0.86%0.84%0.86%0.86%0.84%0.82%0.78%0.72%0.71%0.72%
Gross Profit+290.3M332.12M325.46M357.48M395.01M431.88M830.36M1.12B986.83M1.04B
Gross Margin %0.14%0.16%0.14%0.14%0.16%0.18%0.22%0.28%0.29%0.28%
Gross Profit Growth %-0.09%0.14%-0.02%0.1%0.1%0.09%0.92%0.35%-0.12%0.06%
Operating Expenses+153.03M177.72M174.65M184.51M203.6M186.04M174.51M240.44M230.78M274.05M
OpEx % of Revenue0.07%0.09%0.08%0.07%0.08%0.08%0.05%0.06%0.07%0.07%
Selling, General & Admin130.36M135.81M140.73M148.89M162.36M159.48M184.05M203.09M208.17M226.7M
SG&A % of Revenue0.06%0.07%0.06%0.06%0.07%0.07%0.05%0.05%0.06%0.06%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses22.67M41.91M33.92M35.62M41.24M26.56M-9.54M37.36M22.61M47.35M
Operating Income+137.27M154.4M150.81M172.97M191.4M245.84M655.85M877.15M756.05M770.39M
Operating Margin %0.07%0.08%0.07%0.07%0.08%0.1%0.17%0.22%0.22%0.2%
Operating Income Growth %-0.11%0.12%-0.02%0.15%0.11%0.28%1.67%0.34%-0.14%0.02%
EBITDA+171.88M189.53M184.75M212.52M234.1M290.68M701.24M920.88M796.01M823.52M
EBITDA Margin %0.08%0.09%0.08%0.08%0.1%0.12%0.19%0.23%0.23%0.22%
EBITDA Growth %-0.08%0.1%-0.03%0.15%0.1%0.24%1.41%0.31%-0.14%0.03%
D&A (Non-Cash Add-back)34.61M35.13M33.94M39.55M42.69M44.84M45.39M43.73M39.95M53.13M
EBIT139.46M153.42M146.47M175.62M191.77M228.44M648.85M876.84M846.45M820.87M
Net Interest Income+-6.64M-6.2M-18.82M-24.57M-24.96M-18.15M-7.36M5.65M36.99M53.06M
Interest Income1.03M1.19M684K624K722K1.1M353K6.46M38.21M53.47M
Interest Expense7.67M7.39M19.5M25.2M25.68M19.25M7.71M810K1.22M410K
Other Income/Expense-5.48M-6.51M-25.91M-35.2M-49.91M-46.87M-14.71M8.99M74.36M50.07M
Pretax Income+131.79M147.89M124.89M137.77M141.49M198.97M641.14M886.14M830.41M820.46M
Pretax Margin %0.06%0.07%0.06%0.05%0.06%0.08%0.17%0.22%0.24%0.22%
Income Tax+43.38M48.14M37.88M30.95M35.26M55.32M165.86M223.32M220.76M202.92M
Effective Tax Rate %0.67%0.67%0.69%0.76%0.71%0.7%0.73%0.74%0.73%0.74%
Net Income+87.86M99.73M85.6M104.46M100.97M139.49M468.52M658.32M602.9M604.88M
Net Margin %0.04%0.05%0.04%0.04%0.04%0.06%0.12%0.17%0.18%0.16%
Net Income Growth %-0.13%0.14%-0.14%0.22%-0.03%0.38%2.36%0.41%-0.08%0%
Net Income (Continuing)88.41M99.75M87.01M106.82M106.23M143.65M475.12M662.82M609.65M617.54M
Discontinued Operations0000000000
Minority Interest32.42M37.75M13.92M14.9M18.67M24.32M34.84M23.05M21.27M31.24M
EPS (Diluted)+0.770.870.750.910.901.244.135.825.305.32
EPS Growth %-0.14%0.13%-0.14%0.21%-0.01%0.38%2.33%0.41%-0.09%0%
EPS (Basic)0.780.880.750.920.911.254.185.905.415.43
Diluted Shares Outstanding114.11M114.63M114.97M114.54M112.69M112.78M113.6M113.11M113.66M113.78M
Basic Shares Outstanding113.94M114.34M114.9M113.56M111.6M111.64M112.02M111.56M111.42M111.36M
Dividend Payout Ratio0.19%0.21%2.3%0.22%0.22%0.16%0.06%0.08%0.11%0.15%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+800.4M894.32M739.12M702.62M693.77M825.36M1.02B1.53B2.04B2.01B
Cash & Short-Term Investments274.84M351.32M120.27M72.62M97.94M119.08M87.92M678.88M1.27B1.06B
Cash Only274.84M351.32M120.27M72.62M97.94M119.08M87.92M461.02M1.17B1.04B
Short-Term Investments0000000217.86M98.15M21.87M
Accounts Receivable251.57M256.29M244.79M273.42M269.94M357.53M471.86M380.35M351.56M450.11M
Days Sales Outstanding43.7345.5139.4339.7940.5454.4245.6934.8637.5243.59
Inventory239.38M242.01M327.9M329.8M292.11M315M430.24M448.92M380.25M462.28M
Days Inventory Outstanding48.2851.2561.6755.9852.3858.4853.4357.1957.0361.94
Other Current Assets34.61M44.7M46.15M26.79M33.78M33.75M28.98M26.5M39.17M40.73M
Total Non-Current Assets+538.4M553.15M581.06M666.93M677.17M703.21M709.93M707.75M719.28M1.28B
Property, Plant & Equipment280.22M295.23M304.32M370.63M390.05M405.87M409.07M402.84M420.33M547.83M
Fixed Asset Turnover7.49x6.96x7.45x6.77x6.23x5.91x9.21x9.89x8.14x6.88x
Goodwill120.25M123.99M130.29M150.34M153.28M167.76M171.33M157.59M151.82M311.17M
Intangible Assets40.64M36.17M42.01M61.97M60.08M77.21M61.71M54.78M46.21M306.36M
Long-Term Investments65.9M77.11M76.43M58.04M48.36M37.98M61.13M72.36M83.44M88.04M
Other Non-Current Assets31.39M20.65M28M25.95M25.4M14.39M6.68M20.17M17.48M25.29M
Total Assets+1.34B1.45B1.32B1.37B1.37B1.53B1.73B2.24B2.76B3.29B
Asset Turnover1.57x1.42x1.72x1.83x1.77x1.57x2.18x1.78x1.24x1.15x
Asset Growth %0.01%0.08%-0.09%0.04%0%0.11%0.13%0.3%0.23%0.19%
Total Current Liabilities+209.43M218.99M242.25M232.8M234.29M339.64M382.44M348.3M317.14M397.99M
Accounts Payable88.05M103.17M102.5M103.75M85.64M147.74M180.79M128M120.48M173.74M
Days Payables Outstanding17.7621.8519.2817.6115.3627.4322.4516.3118.0723.28
Short-Term Debt11.76M13.65M16.48M7.1M7.53M41.28M811K811K796K1.09M
Deferred Revenue (Current)0000000000
Other Current Liabilities73.98M67.04M89.72M83.4M94.19M98.06M145.19M152.63M132.32M154.9M
Current Ratio3.82x4.08x3.05x3.02x2.96x2.43x2.66x4.41x6.43x5.06x
Quick Ratio2.68x2.98x1.70x1.60x1.71x1.50x1.54x3.12x5.23x3.89x
Cash Conversion Cycle74.2574.9181.8278.1677.5685.4776.6775.7576.4882.25
Total Non-Current Liabilities+269.67M292.05M541.89M573.49M474.52M387.87M89.53M80.14M83.45M88.51M
Long-Term Debt204.25M213.71M448.59M489.6M378.72M286.59M1.06M1.22M185K0
Capital Lease Obligations000022.39M21.6M17.1M16.88M26.68M24.55M
Deferred Tax Liabilities7.16M19.57M19.4M16.61M21.09M16.84M14.35M16.26M19.13M25.74M
Other Non-Current Liabilities58.26M58.77M73.9M67.28M52.31M62.83M57.02M45.78M37.45M38.22M
Total Liabilities479.1M511.04M784.14M806.29M708.8M727.51M471.97M428.44M400.58M486.5M
Total Debt+216.01M227.36M465.07M496.7M413.89M355.74M24.99M23.85M35.56M33.76M
Net Debt-58.83M-123.95M344.8M424.08M315.95M236.66M-62.94M-437.17M-1.14B-1B
Debt / Equity0.25x0.24x0.87x0.88x0.63x0.44x0.02x0.01x0.02x0.01x
Debt / EBITDA1.26x1.20x2.52x2.34x1.77x1.22x0.04x0.03x0.04x0.04x
Net Debt / EBITDA-0.34x-0.65x1.87x2.00x1.35x0.81x-0.09x-0.47x-1.43x-1.22x
Interest Coverage17.90x20.90x7.73x6.86x7.45x12.77x85.08x1082.90x619.21x1879.00x
Total Equity+859.7M936.44M536.03M563.26M662.14M801.06M1.26B1.81B2.36B2.8B
Equity Growth %0.08%0.09%-0.43%0.05%0.18%0.21%0.57%0.44%0.3%0.19%
Book Value per Share7.538.174.664.925.887.1011.0716.0420.7524.65
Total Shareholders' Equity827.28M898.68M522.11M548.36M643.47M776.75M1.22B1.79B2.34B2.77B
Common Stock802K802K802K802K802K802K802K802K1.6M1.6M
Retained Earnings1.06B1.14B743.5M824.74M903.07M1.02B1.46B2.06B2.59B3.11B
Treasury Stock-453.23M-450.34M-445.72M-474.24M-470.24M-468.92M-470.03M-502.78M-523.41M-586.53M
Accumulated OCI-54.99M-66.96M-51.06M-79.79M-68.77M-54.88M-53.35M-64.17M-47.22M-80.28M
Minority Interest32.42M37.75M13.92M14.9M18.67M24.32M34.84M23.05M21.27M31.24M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+159.61M157.78M43.99M167.89M200.54M245.07M311.7M723.94M672.77M645.91M
Operating CF Margin %0.08%0.08%0.02%0.07%0.08%0.1%0.08%0.18%0.2%0.17%
Operating CF Growth %0.76%-0.01%-0.72%2.82%0.19%0.22%0.27%1.32%-0.07%-0.04%
Net Income88.41M99.75M87.01M106.82M106.23M143.65M475.12M662.82M602.9M617.54M
Depreciation & Amortization35.04M35.7M34.25M39.87M43.01M45.16M45.66M44.09M39.95M53.13M
Stock-Based Compensation6.24M6.39M7.45M8.04M8.74M8.57M9.82M17.8M23.13M26.79M
Deferred Taxes-7.21M7M-3.16M170K-428K-4.05M7.41M-3.88M4.79M-867K
Other Non-Cash Items-15.79M4.27M1.93M11.02M27.18M26.97M-48.65M-14.52M-34.53M14.94M
Working Capital Changes52.91M4.67M-83.48M1.98M15.81M24.77M-177.66M17.63M36.53M-65.63M
Change in Receivables51.66M-16.5M-1.78M-11.34M6.5M-76.4M-124.71M82.71M30.91M-56.56M
Change in Inventory41.09M6.66M-86.29M27.51M39.56M5.21M-119.51M-24.19M67.9M-32.77M
Change in Payables0000-6.5M00-82.71M00
Cash from Investing+-190.81M-53.06M-33.42M-187.1M-40.46M-125.62M29.07M-242M135.08M-606.93M
Capital Expenditures-28.83M-37.5M-46.13M-38.48M-31.16M-43.88M-31.83M-37.64M-54.02M-80.2M
CapEx % of Revenue0.01%0.02%0.02%0.02%0.01%0.02%0.01%0.01%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing9.87M4.97M37.74M22.28M3.24M-9.09M10.84M13.5M22.02M14.3M
Cash from Financing+-41.26M-22.56M-244.57M-28.27M-139.69M-92.26M-376.72M-102.66M-104.51M-160.48M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-16.9M-21.22M-196.94M-22.7M-22.32M-22.34M-29.14M-55.79M-66.87M-89.11M
Share Repurchases----------
Other Financing212K-6.03M-4.5M-1.32M-5.24M-7.23M-12M-8.68M-18.07M-22.86M
Net Change in Cash----------
Free Cash Flow+130.78M120.28M-2.14M129.41M169.38M201.19M279.87M686.3M618.74M565.71M
FCF Margin %0.06%0.06%-0%0.05%0.07%0.08%0.07%0.17%0.18%0.15%
FCF Growth %1.54%-0.08%-1.02%61.59%0.31%0.19%0.39%1.45%-0.1%-0.09%
FCF per Share1.151.05-0.021.131.501.782.466.075.444.97
FCF Conversion (FCF/Net Income)1.82x1.58x0.51x1.61x1.99x1.76x0.67x1.10x1.12x1.07x
Interest Paid8.1M7.1M13.8M25.2M25.4M19.8M13.9M000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)10.62%11.1%11.63%19%16.48%19.07%45.53%42.87%28.9%23.43%
Return on Invested Capital (ROIC)13.86%14.36%13.36%13.89%14.61%18.29%44.08%51.18%43.62%38.21%
Gross Margin13.82%16.16%14.36%14.25%16.25%18.01%22.03%28.06%28.85%27.71%
Net Margin4.18%4.85%3.78%4.17%4.15%5.82%12.43%16.53%17.63%16.05%
Debt / Equity0.25x0.24x0.87x0.88x0.63x0.44x0.02x0.01x0.02x0.01x
Interest Coverage17.90x20.90x7.73x6.86x7.45x12.77x85.08x1082.90x619.21x1879.00x
FCF Conversion1.82x1.58x0.51x1.61x1.99x1.76x0.67x1.10x1.12x1.07x
Revenue Growth-11.18%-2.11%10.24%10.67%-3.08%-1.34%57.18%5.65%-14.11%10.19%

Revenue by Segment

201620172018201920202021202220232024
Piping Systems1.43B1.56B1.65B1.54B1.58B2.6B2.73B2.38B2.51B
Piping Systems Growth-9.47%5.16%-6.27%2.63%64.25%5.00%-12.73%5.52%
Industrial Metals521.06M602.13M651.06M554.37M472.16M703.36M644.69M577.88M818.44M
Industrial Metals Growth-15.56%8.13%-14.85%-14.83%48.97%-8.34%-10.36%41.63%
Climate119.76M131.45M229.07M356.22M370.13M495.41M650.31M500.79M488.45M
Climate Growth-9.76%74.27%55.51%3.91%33.85%31.27%-22.99%-2.46%

Revenue by Geography

201620172018201920202021202220232024
UNITED STATES1.4B1.56B1.82B1.78B1.77B2.79B2.97B2.57B2.83B
UNITED STATES Growth-11.13%16.96%-2.50%-0.54%58.09%6.21%-13.25%9.89%
CANADA237.16M280.14M292.8M285.72M293.78M469.65M410.68M339.68M344.61M
CANADA Growth-18.12%4.52%-2.42%2.82%59.87%-12.56%-17.29%1.45%
Asia and Middle East--------231.09M
Asia and Middle East Growth---------
MEXICO70.65M76.77M89.03M74.42M72.45M94M91.39M84.58M85.76M
MEXICO Growth-8.66%15.97%-16.41%-2.65%29.75%-2.77%-7.45%1.40%
UNITED KINGDOM197.04M231.04M245.46M230.79M207.75M330.91M297.58M270.13M-
UNITED KINGDOM Growth-17.26%6.24%-5.98%-9.98%59.28%-10.07%-9.23%-
Asia149.88M121.3M59.73M64.36M58.26M83.22M217.75M153.82M-
Asia Growth--19.07%-50.76%7.76%-9.49%42.85%161.67%-29.36%-

Frequently Asked Questions

Valuation & Price

Mueller Industries, Inc. (MLI) has a price-to-earnings (P/E) ratio of 24.6x. This is roughly in line with market averages.

Growth & Financials

Mueller Industries, Inc. (MLI) reported $4.14B in revenue for fiscal year 2024. This represents a 71% increase from $2.42B in 2011.

Mueller Industries, Inc. (MLI) grew revenue by 10.2% over the past year. This is steady growth.

Yes, Mueller Industries, Inc. (MLI) is profitable, generating $749.1M in net income for fiscal year 2024 (16.0% net margin).

Dividend & Returns

Yes, Mueller Industries, Inc. (MLI) pays a dividend with a yield of 0.60%. This makes it attractive for income-focused investors.

Mueller Industries, Inc. (MLI) has a return on equity (ROE) of 23.4%. This is excellent, indicating efficient use of shareholder capital.

Mueller Industries, Inc. (MLI) generated $676.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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