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Mueller Industries, Inc.

MLI Industrials Metal Fabrication

Mueller Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.2 billion, up 10.9% from fiscal 2024.

Revenue
+31.6%
EPS
+6.81%
Free cash flow
+1.90%
Total debt
+379.3%

Quarter to September 2026, against a year earlier

52.71 0.27 +0.51%
Market cap
$11.4B
P/E
13.2×
Fwd P/E
13.4×
Dividend yield
1.24%
F-score
7/9
Altman Z
19.20
Beneish M
−2.47
Dividend safety
88/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Piping Systems
  • Industrial Metals
  • Climate

Every year since 2016 →

Insider Decisions last twelve months

Sold, $m 44.71
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 2 — 1 1 — — 4 — — 1
Insider Ownership 1.58%

Capital & Financial Ratios $m

Size
Market Cap 11,430.00
Revenue ttm 5,001.91
Net income ttm 871.57
Free cash flow ttm 689.68
Net debt Q (1,475.66)
Valuation
P/E 13.24
Forward P/E 13.40
Price / sales 2.28
Forward P/S Powerpack
Price / FCF 16.54
Price / book 3.22
Financial health
Current ratio Q 4.39 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 2,070.39
Growth
Revenue growth Q +31.62% (above 0%: growing)
Operating income growth Q +1.98% (above 0%: growing)
EPS, this year +19.68% (at or above 15%: strong)
EPS, next year A +10.72%
Revenue, next year A +24.61% (at or above 10%: strong)
EPS, past 5 yrs +40.91% (at or above 15%: strong)
EPS, next 5 yrs A +13.08%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.0×, against a ten-year median of 0.9×; over the ten years it ranged from 0.7× in 2016 to 3.2× in 2026.
P/E against its own 10 years 33.99%
10-year low 10-year high
P/S against its own 10 years 83.17%
10-year low 10-year high
P/B against its own 10 years 76.31%
10-year low 10-year high
EV/Sales against its own 10 years 82.03%
10-year low 10-year high
EV/FCF against its own 10 years 58.78%
10-year low 10-year high

Dividends raised 2 years running

Yield
1.24%
Annual rate
0.65
Payout ratio
16.7%
Growth, 2017–25
+22.3%/yr
  1. 0.10 ’17
  2. 0.10 ’18 +0
  3. 0.10 ’19 +0
  4. 0.10 ’20 +0
  5. 0.13 ’21 +30
  6. 0.50 ’22 +285
  7. 0.30 ’23 −40
  8. 0.40 ’24 +33
  9. 0.50 ’25 +25
  10. 1.06 ’26e +112
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,269 1,059 1,390 1,481
Receivables 352 450 476 724
Inventory 380 462 510 621
Other 39 41 70 53
2,040 2,012 2,446 2,879
2023 2024 2025 Q'26
Payables 120 174 181 298
ST’ Debt 1 1 — —
Other 132 155 166 296
317 398 413 656

Compound Annual Growth %

10y 5y 3y
Sales 7.12% 11.75% 1.62%
Cash Flow 16.82% 25.25% 1.43%
Earnings 24.16% 40.55% 5.14%
Book Value 14.17% 32.21% 21.28%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY19 Estimate 0.08 Actual 0.13

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY19 0.14 0.14 Met by 0.00
Q2 FY19 0.13 0.14 Beat by 0.01
Q3 FY19 0.11 0.13 Beat by 0.02
Q4 FY19 0.08 0.13 Beat by 0.05

EPS $

Mar Jun Sep Dec Year
’26 1.08 1.13 1.00 — —
’25 0.70 1.11 0.94 0.69 3.43
’24 0.61 0.71 0.74 0.61 2.66
’23 0.77 0.78 0.59 0.53 2.65
’22 0.70 0.91 0.69 0.62 2.91
’21 0.28 0.48 0.75 0.55 2.06
’20 0.14 0.13 0.19 0.16 0.62
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,193 1,428 1,419 — —
’25 1,000 1,138 1,078 962 4,179
’24 850 998 998 924 3,769
’23 971 897 820 732 3,420
’22 1,010 1,150 945 878 3,982
’21 818 1,013 982 956 3,769
’20 603 500 619 676 2,398
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 80 212 337 — —
’25 114 191 310 141 755
’24 174 101 231 140 646
’23 112 139 248 174 673
’22 63 142 312 207 724
’21 (23) 32 172 130 312
’20 28 115 54 48 245
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 63 191 315 — —
’25 117 178 309 121 725
’24 160 93 211 114 578
’23 104 118 237 160 619
’22 64 125 306 199 694
’21 (30) 23 165 124 282
’20 11 110 47 34 201
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 2.2% a year for ten years. It grew 19.4% a year over the last ten.

Implied
2.2%
10 years, reported
19.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,056 2,266 2,508 2,431 2,398 3,769 3,982 3,420 3,769 4,179 5,002 +8.2% 5,207 5,773 6,294 +14.6%
Gross margin, % 16.16 14.36 14.25 16.25 18.01 22.03 28.06 28.85 27.71 29.02 27.25 +12.9 pt
EBT 146 127 150 166 209 641 876 845 820 1,012 1,143 +24.0%
EBT margin, % 7.10 5.60 6.00 6.83 8.72 17.01 22.00 24.71 21.77 24.23 22.84 +17.1 pt
Net income 100 87 107 106 144 475 663 610 618 774 872 +25.6%
Per share, $
Per share, $ Revenue 9.08 9.95 11.04 10.89 10.74 16.82 17.85 15.35 16.92 19.08 23.05 +8.6%
Earnings 0.44 0.38 0.46 0.45 0.63 2.09 2.95 2.71 2.72 3.50 3.97 +25.9%
Cash flow 0.70 0.19 0.74 0.90 1.10 1.39 3.24 3.02 2.90 3.45 3.55 +19.4%
Capex (0.12) (0.06) (0.09) (0.13) (0.20) (0.13) (0.13) (0.24) (0.31) (0.14) (0.37) +1.6%
Free cash flow 0.58 0.13 0.65 0.77 0.90 1.26 3.11 2.78 2.59 3.31 3.18 +21.4%
Book value 4.14 2.35 2.48 2.97 3.59 5.61 8.13 10.58 12.59 14.78 16.32 +15.2%
Shares, m 226 228 227 223 223 224 223 223 223 219 218 (0.4%)
Valuation, ×
Valuation, × P/E 22.94 23.66 12.77 17.64 14.05 7.09 4.98 8.61 14.64 16.40 13.24 14.3
P/S 1.12 0.90 0.53 0.73 0.82 0.88 0.82 1.52 2.35 3.01 2.28 1.3
P/B 2.47 3.79 2.35 2.68 2.45 2.65 1.81 2.20 3.15 3.88 3.22 2.7
EV/Sales 1.06 1.05 0.70 0.85 0.90 0.86 0.65 1.15 2.06 2.68 1.99 1.2
EV/FCF 16.74 80.81 11.82 11.94 10.77 11.48 3.75 6.34 13.47 15.41 14.40 18.3
Cash, $m
Cash, $m Operating cash flow 158 44 168 201 245 312 724 673 646 755 770 +19.0%
Capex (27) (15) (20) (28) (44) (30) (30) (54) (68) (30) (80) +1.2%
Free cash flow 131 29 148 173 201 282 694 619 578 725 690 +21.0%
Balance, $m
Balance, $m Working capital 675 497 470 459 486 637 1,186 1,723 1,614 2,033 2,224 +13.0%
Net debt (124) 345 424 288 209 (86) (677) (1,268) (1,058) (1,390) (1,476) +30.8%
Shareholders’ equity 936 536 563 662 801 1,257 1,814 2,359 2,804 3,236 3,542 +14.8%
Returns, %
Returns, % ROA 7.16 6.19 7.77 7.37 9.62 28.77 33.15 24.11 20.00 21.79 21.61 +14.6 pt
ROIC 11.88 10.70 10.95 12.59 15.21 35.01 48.21 43.33 27.57 32.45 32.53 +20.6 pt
ROE 11.10 11.63 19.00 16.48 19.07 45.53 42.87 28.90 23.43 25.34 26.02 +14.2 pt
People
People Employees 4,244 4,125 5,134 4,964 5,007 5,337 5,137 4,509 5,168 4,832 — +1.5%
Revenue/emp, $m 0.48 0.55 0.49 0.49 0.48 0.71 0.78 0.76 0.73 0.86 — +6.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Mueller Industries manufactures copper, brass and aluminum products used in buildings, industrial equipment, vehicles and electrical infrastructure. Its products include copper tube and fittings, brass rod, valves, wire and cable, and flexible air ducts. It also resells plumbing products made by others, including valves, faucets and fittings.

The business has three segments. Piping Systems supplies products that carry water and connect heating, air-conditioning and refrigeration equipment. Industrial Metals makes metal stock and components for other manufacturers, along with wire and cable for electrical applications. Climate makes components for heating, cooling and refrigeration systems, including valves, heat exchangers and insulated flexible ducts.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Piping Systems 2,709 64.82%
Industrial Metals 1,024 24.50%
Climate 498 11.92%
Gross margin 29.02%
Operating margin 22.94%
Pre-tax margin 24.23%

Revenue by segment since 2016

Mueller Industries, Inc. vs peers in Metal Fabrication (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ATI ATI Inc. $22.9B 41.3× 34.0× +26.49% (above 0%: growing) +77.54% (above 0%: growing) −59.00% (below 0%: shrinking) 26.71% 19.10% Compare
CRS Carpenter Technology Corporation $13.8B 24.6× 20.9× +8.79% (above 0%: growing) +33.06% (above 0%: growing) −629.41% (below 0%: shrinking) 32.11% 24.61% Compare
MLI Mueller Industries, Inc. $11.4B 13.2× 13.4× +31.62% (above 0%: growing) +6.81% (above 0%: growing) +1.90% (above 0%: growing) 25.48% 19.85%
CMC Commercial Metals Company $6.8B 10.6× 9.7× +25.72% (above 0%: growing) +41.18% (above 0%: growing) +38.70% (above 0%: growing) 18.87% 10.18% Compare
ESAB ESAB Corporation $4.9B 31.1× 18.2× +13.28% (above 0%: growing) −28.06% (below 0%: shrinking) −22.04% (below 0%: shrinking) 39.25% 11.15% Compare
GPGI CompoSecure, Inc. $4.0B — (loss-making) 15.1× −100.00% (below 0%: shrinking) n/m 0.00% 0.00% 0.00% Compare
WOR Worthington Enterprises, Inc. $3.0B 18.2× 16.3× +13.23% (above 0%: growing) +23.94% (above 0%: growing) +97.40% (above 0%: growing) 26.43% 3.79% Compare
PRLB Proto Labs, Inc. $1.5B 43.3× 47.5× +14.00% (above 0%: growing) +63.33% (above 0%: growing) −34.32% (below 0%: shrinking) 44.49% 9.36% Compare
RYZ Ryerson Holding Corporation $1.4B — (loss-making) — (loss-making) +87.50% (above 0%: growing) n/m −378.17% (below 0%: shrinking) 17.16% 2.36% Compare
Median of peers $4.4B 27.8× 18.2× +13.64% +37.12% −28.18% 26.57% 9.77%

All 18 Metal Fabrication stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 45.31%
Held by the ten largest 23.93%
Holder Shares Stake Change
BlackRock 11.69m 5.29% +57.64k
Vanguard 10.84m 4.90% +79.49k
First Trust 6.83m 3.09% +1.24m
Fidelity (FMR) 5.51m 2.49% +3.71m
AQR Capital Management 4.66m 2.11% −176.39k
State Street 3.56m 1.61% +57.03k
Geode Capital Management 3.15m 1.43% +163.85k
Invesco 2.75m 1.24% +741.35k
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.99m 0.90% −123.59k
Dimensional Fund Advisors 1.94m 0.88% −238.59k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 26 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 27.56m 74.14m 146.00
2024 22.79m 71.94m 172.00
2023 19.46m 51.28m 161.00
2022 34.99m 39.92m 104.00
2021 10.84m 21.07m 170.00

Ownership

Directors and executive officers, together 2.30%
The Vanguard Group 9.50%
BlackRock, Inc. 8.90%
First Trust Portfolios, L.P. 6.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Mueller Industries, Inc. (MLI) Latest News

22 Oct

Impact 3 · · Simply Wall St.

20 Oct

Impact 4 · · Business Wire earnings
Impact 3 · · Associated Press

22 Sep

Impact 3 · · Simply Wall St.

2 Aug

Impact 3 · · The Motley Fool

21 Jul

Impact 3 · · InvestorsHub
Impact 3 ·

5 May

Impact 3 · · Simply Wall St.

25 Apr

Impact 4 · · The Motley Fool

21 Apr

Impact 4 ·

30 Mar

Impact 4 · · Business Wire

11 Mar

Impact 4 · · Insider Monkey

19 Feb

Impact 4 · · Business Wire

14 Feb

Impact 3 · · Simply Wall St.

11 Feb

Impact 4 · · GuruFocus.com
Impact 3 · · 24/7 Wall St.

7 Feb

Impact 3 · · Simply Wall St.

6 Feb

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool
Impact 3 · · The Motley Fool

3 Feb

Impact 4 · · Associated Press Finance
Impact 4 · · Business Wire

1 Feb

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

30 Jan

Impact 3 · · 24/7 Wall St.

29 Jan

Impact 3 · · Insider MonkeyInsider MonkeyInsider MonkeyInsider MonkeyInsider MonkeyInsider MonkeyInsider MonkeyInsider Monkey

21 Jan

Impact 3 · · 24/7 Wall St.

14 Dec

Impact 4 · · Simply Wall St.

10 Dec

Impact 4 ·

20 Nov

Impact 4 · · Simply Wall St.Insider MonkeyMT NewswiresSimply Wall St.Associated Press FinanceSimply Wall St.Simply Wall St.

MLI metrics, ten years each

stockrow.com/MLI · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com