Logo

MLI

Mueller Industries, Inc.

MLI

Mueller Industries, Inc. • NYSE
$109.87 ▼ -0.46% (-0.51)
Market Cap $12.20 B
52w High $111.39
52w Low $66.84
Dividend Yield 0.95%
P/E 16.42
Volume 265.68K
Outstanding Shares 111.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.078B ▼ $61.657M ▲ $208.123M ▼ 19.31% ▼ $1.9 ▼ $300.765M ▼
Q2-2025 $1.138B ▲ $48.811M ▼ $245.924M ▲ 21.607% ▲ $2.26 ▲ $342.365M ▲
Q1-2025 $1B ▲ $65.718M ▼ $157.432M ▲ 15.741% ▲ $1.42 ▲ $228.368M ▲
Q4-2024 $923.536M ▼ $85.112M ▲ $137.652M ▼ 14.905% ▼ $1.23 ▼ $200.523M ▼
Q3-2024 $997.831M $68.662M $168.699M 16.907% $1.51 $229.678M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.317B ▲ $3.696B ▲ $600.741M ▲ $3.07B ▲
Q2-2025 $1.058B ▲ $3.487B ▲ $546.819M ▲ $2.917B ▲
Q1-2025 $873.597M ▼ $3.231B ▼ $544.205M ▲ $2.666B ▼
Q4-2024 $1.059B ▲ $3.291B ▲ $486.498M ▼ $2.773B ▲
Q3-2024 $969.565M $3.206B $497.496M $2.678B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $210.248M ▼ $310.072M ▲ $699K ▲ $-52.738M ▼ $256.151M ▲ $291.781M ▲
Q2-2025 $250.338M ▲ $190.602M ▲ $-10.046M ▲ $-26.886M ▲ $164.996M ▲ $176.503M ▲
Q1-2025 $157.432M ▲ $113.559M ▼ $-23.44M ▲ $-287.667M ▼ $-197.156M ▼ $96.967M ▼
Q4-2024 $140.603M ▼ $140.121M ▼ $-35.685M ▲ $-22.032M ▲ $73.29M ▼ $111.206M ▼
Q3-2024 $171.783M $231.412M $-59.035M $-48.862M $123.59M $205.727M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Climate
Climate
 $110.00M ▲$120.00M ▲$140.00M ▲$130.00M ▼
Industrial Metals
Industrial Metals
 $230.00M ▲$250.00M ▲$270.00M ▲$250.00M ▼
Piping Systems
Piping Systems
 $580.00M ▲$640.00M ▲$740.00M ▲$720.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Mueller’s income statement shows a business that became much stronger after 2020 and has largely been able to hold onto those gains. Sales have stayed at a high level in recent years, even with some normal cycling in demand. Profit margins look healthy for an industrial manufacturer, and operating profit has remained solid rather than collapsing after the boom years of 2021–2022. Earnings per share have been consistently strong, suggesting that the company has managed costs well and benefited from good pricing power and product mix. Overall, profitability appears robust and relatively stable, though still exposed to economic and construction cycles.

Balance Sheet

Balance Sheet The balance sheet looks like a key strength. Assets and shareholders’ equity have grown steadily, showing that past profits have been retained and reinvested. Cash on hand is high compared with total assets, giving the company meaningful financial flexibility. Debt levels are very low, which reduces financial risk and interest burden. This combination of strong equity, large cash reserves, and minimal leverage points to a very conservative, resilient financial position that can better withstand downturns or fund acquisitions without strain.

Cash Flow

Cash Flow Cash generation is a bright spot. The company regularly produces more than enough cash from operations to cover its investment needs, leaving a comfortable cushion of free cash flow year after year. Capital spending has been measured rather than aggressive, which helps keep free cash flow strong while still supporting the business. The pattern suggests that reported earnings are well backed by real cash, not just accounting profits, and that Mueller has room to fund dividends, buybacks, or acquisitions without relying heavily on borrowing.

Competitive Edge

Competitive Edge Mueller holds a strong niche in metal-based components for plumbing, HVAC, and related markets. Its key advantage is being one of the only fully vertically integrated players in North America, controlling the process from raw metal to finished fittings. This supports consistent quality, cost control, and better supply reliability for customers. Long-standing brands like Streamline carry a reputation for reliability that is hard for new entrants to match. Its broad product range and global footprint further reinforce scale advantages. The main risk is that many of its end markets are cyclical and tied to construction, industrial activity, and commodity input costs, which can pressure volumes and pricing at times.

Innovation and R&D

Innovation and R&D Innovation at Mueller is more about process, product refinement, and strategic acquisitions than about big, headline-grabbing research projects. The company has developed proprietary copper processes and specialized fittings systems that improve durability, ease of installation, and performance, especially for modern HVAC and medical gas applications. It is growing press-fitting technologies and expanding into areas like electrical transmission through acquisitions. Formal R&D spending is not large, but Mueller appears to innovate through engineering know-how, continuous improvement, and bolt-on deals that add new capabilities. This supports a steady, evolutionary edge rather than disruptive change.

Summary

Mueller Industries comes across as a financially conservative industrial company with strong profitability, a very solid balance sheet, and reliable cash generation. Its vertically integrated model, respected brands, and broad product line provide a durable position in essential plumbing, HVAC, and infrastructure markets. The company leans on process innovation, incremental product improvements, and acquisitions rather than heavy in-house R&D, which fits its mature industrial profile. Key sensitivities include exposure to construction and industrial cycles and to metal price dynamics, but its high cash balance and low debt give it considerable room to navigate volatility and pursue strategic growth.

NEWS

November 7, 2025 · 1:58 PM UTC

Mueller Industries, Inc. Declares Cash Dividend for Fourth Quarter

Read more

October 21, 2025 · 7:00 AM UTC

Mueller Industries, Inc. Reports Third Quarter 2025 Earnings

Read more