Mueller Industries, Inc.MLI
NYSE•Industrials•Metal Fabrication
Mueller Industries, Inc. manufactures and sells copper, brass, and aluminum products in the United States, the United Kingdom, Canada, Asia and the Middle East, 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; resells steel pipe, brass and plastic plumbing valves, malleable iron fittings, faucets, and plumbing specialties. 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 offers brass, bronze, and copper alloy rods; brass rod, bar, and shapes; cold-form aluminum and copper products; high-volume machining of aluminum, steel, brass, and cast-iron impacts and castings for automotive applications; brass and aluminum forgings; brass, aluminum, and stainless steel valves; fluid control solutions; and gas train assembles; specialty copper, copper alloy, and aluminum tube to OEMs in the industrial, construction, plumbing, refrigeration, utility, telecommunication, and electrical transmission and distribution markets, as well as heating, ventilation, and air-conditioning (HVAC) markets. The Climate segment provides valves, protection devices, and brass fittings; and coaxial heat exchangers and twisted tubes to wholesalers and OEMs in the HVAC and refrigeration markets. This segment also manufactures and distributes high-pressure components and accessories, as well as insulated HVAC flexible duct systems. Mueller Industries, Inc. was founded in 1917 and is headquartered in Collierville, Tennessee.
Mueller Industries, Inc. (MLI) reported trailing twelve months revenue of $4.37B as of March 2026, a 11.5% increase year-over-year. Quarterly revenue reached $1.19B, reflecting continued top-line momentum.
Mueller Industries, Inc. generated $846.78M in TTM net income, with quarterly EBITDA of $328.88M. The operating margin expanded from 20.6% to 26.2%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (26.2%) and net margin (20.0%) indicates moderate non-operating costs. Net margin has improved from 15.7% a year ago, signaling stronger bottom-line efficiency.
MLI trades at a P/E of 14.0x (below the broader market average) and a P/S of 2.7x. The price-to-book ratio of 3.5x reflects a moderate premium to book value.
The company generated $62.51M in free cash flow over the trailing twelve months, a 35.5% decrease year-over-year, indicating cash generation ability. The balance sheet shows $3.94B in total assets with no in long-term debt against $3.33B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~22.2%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 23.3% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~28.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~24.1% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation