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Mueller Industries

MLI NYSE Industrial Machinery & Supplies & Components Financials FY2016–FY2025

Mueller Industries' revenue rose 10.9% to $4.2 billion in fiscal 2025. Its operating margin was 22.9%, up from 20.4% a year earlier. Free cash flow was $687 million, up 21.4%. It paid out $353 million in dividends and buybacks, 51% of free cash flow. The diluted share count fell 2.2%.

Last close · Oct 23, 2026

$54.11

0.8%
Value it Compare
Revenue Total sales reported in the income statement.
$4.2B
10.9% vs prior year
Operating margin Operating income as a share of revenue.
22.9%
2.5 pts
Net income Profit after all expenses, interest and tax.
$765M
26.5%
Free cash flow Cash from operations minus capital spending.
$687M
21.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
40.3%
0.4 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$11.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
15.8x

About these figures. Share counts and per-share figures for earlier years are restated for a stock split (2-for-1), so every year is on today's share basis.

What Mueller Industries does

No business description yet.

Legal name
MUELLER INDUSTRIES, INC
Fiscal year ends
December 27, 2025
Latest annual report
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Accession · CIK
0000089439-26-000008
0000089439

Revenue and margins

Mueller Industries had $4.2B of revenue in fiscal 2025, up 10.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 25.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $687M in fiscal 2025, 16.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Mueller Industries returned $353M to shareholders in fiscal 2025, 51% of free cash flow. The diluted share count fell 2.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Mueller Industries yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $1.4B and divides by 111.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 15.8x · peers 21.3x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Mueller Industries can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $87.9M$679M$1.3B$1.1B$1.4B
Debt incl. finance leases $2.9M$2.7M$1.0M$1.1M$0.0M
Net debt / EBITDA −0.1x−0.7x−1.6x−1.3x−1.4x
Debt / equity 0.0x0.0x0.0x0.0x0.0x
Interest coverage 85.1x1,082.9x619.2x1,879.0x8,875.4x
Current ratio 2.7x4.4x6.4x5.1x5.9x
Quick ratio 1.5x3.1x5.2x3.9x4.7x
Total assets $1.7B$2.2B$2.8B$3.3B$3.7B
Total liabilities $472M$428M$401M$487M$497M
Shareholders' equity $1.2B$1.8B$2.3B$2.8B$3.2B
Net debt (− = net cash) −$85.0M−$676M−$1.3B−$1.1B−$1.4B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$50.2M

4 insiders

Of sales under plans

1%

$0.4M

DateInsiderTradeSharesPriceValueFiling
Aug 27, 2026 Scott Jay GoldmanDirector Sold plan 2,000 $64.08 $0.1M Form 4
Aug 13, 2026 Jeffrey Andrew MartinEVP, CFO & Treasurer Sold 86,209 $67.03 $5.8M Form 4
Aug 11, 2026 Gregory L. ChristopherChairman of the Board & CEO, Director Sold 270,000 $68.70 $18.5M Form 4
Aug 10, 2026 Gregory L. ChristopherChairman of the Board & CEO, Director Sold 70,000 $69.09 $4.8M Form 4
Aug 4, 2026 John B HansenDirector Sold 3,444 $67.84 $0.2M Form 4
May 29, 2026 Scott Jay GoldmanDirector Sold plan 2,000 $127.91 $0.3M Form 4
Apr 27, 2026 Gregory L. ChristopherChairman of the Board & CEO, Director Sold 103,266 $137.29 $14.2M Form 4
Feb 13, 2026 Scott Jay GoldmanDirector Sold 4,430 $118.97 $0.5M Form 4
Feb 9, 2026 John B HansenDirector Sold 1,000 $116.71 $0.1M Form 4
Nov 25, 2025 Scott Jay GoldmanDirector Sold 4,234 $108.64 $0.5M Form 4
Oct 27, 2025 Gregory L. ChristopherChairman of the Board & CEO, Director Sold 50,000 $103.42 $5.2M Form 4
Oct 24, 2025 Gregory L. ChristopherChairman of the Board & CEO, Director Sold 142,000 $103.70 $14.7M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✕
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✕
F-score 5 / 84 / 86 / 8
Accruals ratio −2.8%−1.4%0.3%
Altman Z'' 15.1813.9215.42

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Mueller Industries MLI $11.9B 10.9% 22.9% 16.4% 40.3% 15.8x 6
Pentair PNR $9.1B 2.3% 20.5% 17.9% 14.0% 13.5x 9 Compare →
Fortive FTV $18.8B 1.9% 17.3% 23.5% 5.7% 36.1x 5 Compare →
Lincoln Electric LECO $14.1B 5.6% 17.0% 12.6% 24.5% 25.5x 7 Compare →
Valmont Industries VMI $8.5B 0.7% 10.1% 7.6% 17.9% 17.0x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.1B $2.3B $2.5B $2.4B $2.4B $3.8B $4.0B $3.4B $3.8B $4.2B
Gross profit $332M $326M $358M $395M $432M — — — — —
Operating income $154M $151M $173M $191M $246M $656M $877M $756M $770M $959M
Interest expense $7.4M $19.5M $25.2M $25.7M $19.2M $7.7M $0.8M $1.2M $0.4M $0.1M
Pretax income $146M $127M $150M $166M $209M $641M $876M $845M $821M $1.0B
Income tax $48.1M $37.9M $31.0M $35.3M $55.3M $166M $223M $221M $205M $247M
Net income $99.7M $85.6M $105M $101M $140M $469M $658M $603M $605M $765M
Diluted EPS $0.87 $0.74 $0.91 $0.90 $1.24 $4.12 $5.82 $5.30 $5.31 $6.86
Diluted shares 0.11B 0.12B 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B
Cash flow
Cash from operations $158M $44.0M $168M $201M $245M $312M $724M $673M $646M $755M
Capital expenditure $37.5M $46.1M $38.5M $31.2M $43.9M $31.8M $37.6M $54.0M $80.2M $68.8M
Free cash flow $120M −$2.1M $129M $169M $201M $280M $686M $619M $566M $687M
Depreciation and amortization $35.1M $33.9M $39.6M $42.7M $44.8M $45.4M $43.7M $40.0M $53.1M $68.6M
Stock-based compensation $6.4M $7.4M $8.0M $8.7M $8.6M $9.8M $17.8M $23.1M $26.8M $26.8M
Acquisitions $20.5M $18.4M $168M $3.5M $72.6M $30.2M $0.0M $0.0M $603M $0.0M
Share buybacks $0.0M $0.0M $33.6M $1.8M $5.6M $4.9M $38.1M $19.3M $48.7M $244M
Dividends paid $21.2M $2.9M $22.7M $22.3M $22.3M $29.1M $55.8M $66.9M $89.1M $109M
Dividends and buybacks $21.2M $2.9M $56.3M $24.1M $27.9M $34.0M $93.8M $86.2M $138M $353M
Balance sheet
Cash and short-term investments $351M $120M $72.6M $97.9M $119M $87.9M $679M $1.3B $1.1B $1.4B
Total debt $228M $466M $498M $387M $328M $2.9M $2.7M $1.0M $1.1M $0.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $894M $739M $703M $694M $825M $1.0B $1.5B $2.0B $2.0B $2.4B
Current liabilities $219M $242M $233M $234M $340M $382M $348M $317M $398M $413M
Inventory $242M $328M $330M $292M $315M $430M $449M $380M $462M $511M
Property and equipment, net $295M $304M $371M $363M $377M $386M $380M $385M $515M $537M
Total assets $1.4B $1.3B $1.4B $1.4B $1.5B $1.7B $2.2B $2.8B $3.3B $3.7B
Total liabilities $511M $784M $806M $709M $728M $472M $428M $401M $487M $497M
Shareholders' equity $899M $522M $548M $644M $777M $1.2B $1.8B $2.3B $2.8B $3.2B
Margins
Gross margin 16.2% 14.4% 14.3% 16.3% 18.0% — — — — —
Operating margin 7.5% 6.7% 6.9% 7.9% 10.3% 17.4% 22.0% 22.1% 20.4% 22.9%
EBITDA margin 9.2% 8.2% 8.5% 9.6% 12.1% 18.6% 23.1% 23.3% 21.9% 24.6%
Net margin 4.9% 3.8% 4.2% 4.2% 5.8% 12.4% 16.5% 17.6% 16.1% 18.3%
FCF margin 5.9% −0.1% 5.2% 7.0% 8.4% 7.4% 17.2% 18.1% 15.0% 16.4%
Returns
Return on capital 12.8% 12.5% 14.7% 15.6% 18.4% 44.6% 56.6% 50.1% 40.7% 40.3%
Return on capital employed 13.1% 13.1% 15.6% 16.8% 21.1% 51.7% 54.1% 34.9% 28.9% 30.9%
Return on equity 11.6% 12.1% 19.5% 16.9% 19.6% 46.9% 43.7% 29.2% 23.7% 25.6%
Return on assets 7.2% 6.2% 7.8% 7.4% 9.6% 28.8% 33.2% 24.1% 20.0% 21.8%
Growth
Revenue growth −2.1% 10.2% 10.7% −3.1% −1.3% 57.2% 5.7% −14.1% 10.2% 10.9%
Net income growth 13.5% −14.2% 22.0% −3.3% 38.2% 235.9% 40.5% −8.4% 0.3% 26.5%
EPS growth 13.0% −14.4% 22.2% −1.7% 38.0% 233.6% 41.3% −8.9% 0.2% 29.2%
FCF growth −8.0% −101.8% — 30.9% 18.8% 39.1% 145.2% −9.8% −8.6% 21.4%
Share count change 0.4% 0.6% −0.4% −1.6% 0.1% 0.7% −0.4% 0.5% 0.3% −2.2%
Financial health
Net debt / EBITDA −0.7x 1.9x 2.0x 1.2x 0.7x −0.1x −0.7x −1.6x −1.3x −1.4x
Debt / equity 0.3x 0.9x 0.9x 0.6x 0.4x 0.0x 0.0x 0.0x 0.0x 0.0x
Interest coverage 20.9x 7.7x 6.9x 7.5x 12.8x 85.1x 1,082.9x 619.2x 1,879.0x 8,875.4x
Current ratio 4.1x 3.1x 3.0x 3.0x 2.4x 2.7x 4.4x 6.4x 5.1x 5.9x
Quick ratio 3.0x 1.7x 1.6x 1.7x 1.5x 1.5x 3.1x 5.2x 3.9x 4.7x
Capital allocation
Capex / revenue 1.8% 2.0% 1.5% 1.3% 1.8% 0.8% 1.0% 1.6% 2.1% 1.7%
Stock comp / revenue 0.3% 0.3% 0.3% 0.4% 0.4% 0.3% 0.5% 0.7% 0.7% 0.6%
Payouts / FCF 17.7% — 43.5% 14.2% 13.9% 12.2% 13.7% 13.9% 24.4% 51.4%
Quality scores
Piotroski F-score 6.0 3.0 6.0 6.0 6.0 6.0 7.0 5.0 4.0 6.0
Altman Z'' 8.3 5.8 5.8 6.3 6.5 10.5 13.5 15.2 13.9 15.4
Accruals ratio −4.2% 3.0% −4.7% −7.3% −7.3% 9.6% −3.3% −2.8% −1.4% 0.3%

Source: SEC EDGAR XBRL filings (CIK 0000089439). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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