Tearsheet

Mueller Industries (MLI)

Market Price (12/18/2025): $112.62 | Market Cap: $12.3 Bil
Sector: Industrials | Industry: Industrial Machinery & Supplies & Components

Mueller Industries (MLI)

Market Price (12/18/2025): $112.62
Market Cap: $12.3 Bil
Sector: Industrials
Industry: Industrial Machinery & Supplies & Components

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 6.1%	Trading close to highs Dist 52W High is -1.8%, Dist 3Y High is -1.8%	Key risks MLI key risks include [1] its sensitivity to cyclical housing and commercial construction markets, Show more.
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%
2	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16%
3	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%
4	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%
5	Low stock price volatility Vol 12M is 28%
6	Megatrend and thematic drivers Megatrends include Water Infrastructure, Sustainable & Green Buildings, and Electrification of Everything. Themes include Water Treatment & Delivery, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 6.1%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -12%
2	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16%
3	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21%
4	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%
5	Low stock price volatility Vol 12M is 28%
6	Megatrend and thematic drivers Megatrends include Water Infrastructure, Sustainable & Green Buildings, and Electrification of Everything. Themes include Water Treatment & Delivery, Show more.
7	Trading close to highs Dist 52W High is -1.8%, Dist 3Y High is -1.8%
8	Key risks MLI key risks include [1] its sensitivity to cyclical housing and commercial construction markets, Show more.

Valuation, Metrics & Events

	12/18/25	2024	2023	2022	2021
Share Price CYE	$112.62	$78.47	$46.02	$28.34	$28.05
Market Cap CYE ($ Bil)	12.3	8.8	5.1	3.2	3.1
Total Debt ($ Bil)	0.0	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	1.3	1.1	1.3	0.7	0.1
Enterprise Value ($ Bil)	11.0	8.8	5.1	3.2	3.1
Valuation Ratios
P/S TTM	2.67	2.35	1.54	0.83	0.88
P/EBIT TTM	11.10	10.77	6.21	3.75	5.12
P/FCF TTM	16.31	15.63	8.49	4.80	11.88
P/E TTM	14.73	14.61	8.71	5.00	7.10
Sector Ratios
P/S TTM (Sector)	1.66	1.50	1.41	1.15	1.61
P/EBIT TTM (Sector)	13.95	12.85	12.56	10.02	13.41
P/FCF TTM (Sector)	13.44	13.47	12.08	8.44	14.49
P/E TTM (Sector)	17.22	16.55	15.40	12.19	16.46

	12/18/25	2024	2023
Share Price CYE	$112.62	$78.47	$46.02
Market Cap CYE ($ Bil)	12.3	8.8	5.1
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	1.3	1.1	1.3
Enterprise Value ($ Bil)	11.0	8.8	5.1
Valuation Ratios
P/S TTM	2.67	2.35	1.54
P/EBIT TTM	11.10	10.77	6.21
P/FCF TTM	16.31	15.63	8.49
P/E TTM	14.73	14.61	8.71
Sector Ratios
P/S TTM (Sector)	1.66	1.50	1.41
P/EBIT TTM (Sector)	13.95	12.85	12.56
P/FCF TTM (Sector)	13.44	13.47	12.08
P/E TTM (Sector)	17.22	16.55	15.40

	MLI	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	4.1
Rev Chg Q	8.0%	7.3%
Rev Chg LTM	15.7%	6.0%
Rev Chg 3Y Avg	1.3%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.9
CFO LTM ($ Bil)	0.8
Net Inc LTM ($ Bil)	0.7
Op Mgn LTM	21.4%	18.8%
CFO/Rev LTM	18.2%	20.4%
Net Inc Mgn	18.1%	13.1%
VALUATION	MODERATE
P/S	2.7	3.2
P/CFO	14.6	16.0
P/FCF	16.3	20.7
P/E	14.7	23.5
STABILITY	VERY GOOD
Debt/Equity	0.00	0.21
Cash/Assets	0.36	0.07

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Metric	Value	Date	Source
Number of Employees	5168	12282024	Link

Recent
12/05/2025	Dividend	Amount: $0.25 Payment On: 12/19/2025
Upcoming
2/03/2026	Earnings Release	Rev: - EPS: -

MLI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Mueller Industries (MLI) experienced a period of significant stock movement from late August 2025 to mid-December 2025. Several factors likely contributed to the approximate 17.9% increase in its stock price during this time.

1. Strong Third Quarter 2025 Earnings Performance. Mueller Industries reported robust financial results for the third quarter of 2025, which ended September 27, 2025. The company announced a net income of $208.1 million, a substantial increase from $168.7 million in the same period of 2024. Diluted earnings per share (EPS) also rose to $1.88, compared to $1.48 year-over-year. While sales of $1.08 billion for the quarter slightly missed analyst estimates, they still represented an increase from $997.8 million in the third quarter of the prior year. The operating income surged by 33.6%, indicating strong operational leverage and pricing power, with the net profit margin expanding to 18.1% from 16.4% in the prior year.

2. Favorable Copper Price Trends. The average COMEX copper price increased by 14.3% during the third quarter of 2025 compared to the prior period, reaching an average of $4.83 per pound. This rise in raw material costs allowed Mueller Industries to implement higher selling prices, which was a primary driver for the quarter-over-quarter increase in net sales. Copper and brass prices are influenced by global market trends, demand-supply dynamics, and oil prices, with increasing demand from various industries contributing to higher prices. The global shift towards green energy, which heavily relies on copper for electric vehicles and renewable energy infrastructure, is also boosting long-term demand.

3. Positive Outlook Despite Challenges in Residential Construction. Despite facing "softness in residential construction" and increased imports, Mueller's CEO, Greg Christopher, expressed optimism about the company's future. He highlighted the company's ability to deliver an "excellent quarter" amidst these challenges and anticipated greater production efficiencies as demand rebounds. The company’s diversified revenue streams, including plumbing, HVAC, commercial refrigeration, and industrial manufacturing, contribute to its resilience.

4. Consistent Shareholder Returns. Mueller Industries declared a quarterly cash dividend of $0.25 per share, payable on December 19, 2025, to shareholders of record on December 5, 2025. This consistent dividend, along with a healthy payout ratio of 14.93%, demonstrates the company's commitment to returning value to shareholders and its strong financial health.

5. Strategic Institutional Investor Activity. While some institutional investors reduced their positions in MLI, others significantly increased their holdings during the second quarter of 2025. For example, Jane Street Group, LLC added over 1.1 million shares, a 336% increase, and QUBE Research & Technologies LTD added over 955,000 shares. Such activity can signal growing institutional confidence in the company's long-term prospects. Additionally, Brevan Howard Capital Management LP significantly increased its position in Mueller Industries by 807.0% during the second quarter, owning approximately 0.16% of the company's stock.

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Stock Movement Drivers

Fundamental Drivers

The 14.3% change in MLI stock from 9/17/2025 to 12/17/2025 was primarily driven by a 8.6% change in the company's P/E Multiple.

	9172025	12172025	Change
Stock Price ($)	98.54	112.60	14.27%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4059.70	4139.70	1.97%
Net Income Margin (%)	17.48%	18.10%	3.52%
P/E Multiple	15.10	16.40	8.62%
Shares Outstanding (Mil)	108.75	109.11	-0.34%
Cumulative Contribution			14.27%

LTM = Last Twelve Months as of date shown

Market Drivers

9/17/2025 to 12/17/2025

	Return	Correlation
MLI	14.3%
Market (SPY)	1.9%	50.3%
Sector (XLI)	1.6%	69.7%

Fundamental Drivers

The 55.5% change in MLI stock from 6/18/2025 to 12/17/2025 was primarily driven by a 27.6% change in the company's P/E Multiple.

	6182025	12172025	Change
Stock Price ($)	72.42	112.60	55.48%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3919.28	4139.70	5.62%
Net Income Margin (%)	15.92%	18.10%	13.67%
P/E Multiple	12.85	16.40	27.60%
Shares Outstanding (Mil)	110.74	109.11	1.47%
Cumulative Contribution			55.44%

LTM = Last Twelve Months as of date shown

Market Drivers

6/18/2025 to 12/17/2025

	Return	Correlation
MLI	55.5%
Market (SPY)	12.7%	51.0%
Sector (XLI)	8.3%	66.6%

Fundamental Drivers

The 38.0% change in MLI stock from 12/17/2024 to 12/17/2025 was primarily driven by a 15.7% change in the company's Total Revenues ($ Mil).

	12172024	12172025	Change
Stock Price ($)	81.57	112.60	38.04%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3577.61	4139.70	15.71%
Net Income Margin (%)	16.39%	18.10%	10.39%
P/E Multiple	15.49	16.40	5.89%
Shares Outstanding (Mil)	111.36	109.11	2.02%
Cumulative Contribution			37.99%

LTM = Last Twelve Months as of date shown

Market Drivers

12/17/2024 to 12/17/2025

	Return	Correlation
MLI	38.0%
Market (SPY)	12.1%	73.4%
Sector (XLI)	13.9%	78.0%

Fundamental Drivers

The 282.9% change in MLI stock from 12/18/2022 to 12/17/2025 was primarily driven by a 223.5% change in the company's P/E Multiple.

	12182022	12172025	Change
Stock Price ($)	29.41	112.60	282.88%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4061.23	4139.70	1.93%
Net Income Margin (%)	15.88%	18.10%	13.94%
P/E Multiple	5.07	16.40	223.54%
Shares Outstanding (Mil)	111.18	109.11	1.86%
Cumulative Contribution			282.74%

LTM = Last Twelve Months as of date shown

Market Drivers

12/18/2023 to 12/17/2025

	Return	Correlation
MLI	155.6%
Market (SPY)	44.9%	58.5%
Sector (XLI)	39.5%	65.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
MLI Return	12%	71%	1%	62%	71%	45%	678%
Peers Return	13%	40%	-7%	34%	-2%	12%	113%
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
MLI Win Rate	58%	75%	33%	58%	75%	75%
Peers Win Rate	62%	68%	38%	53%	43%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
MLI Max Drawdown	-43%	-3%	-15%	-0%	-4%	-13%
Peers Max Drawdown	-44%	-4%	-22%	-9%	-14%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: WLK, WTS, FELE, MTRN, CR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)

How Low Can It Go

Unique Key	Event	MLI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-23.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	30.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	57 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-46.2%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	85.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	244 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-50.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	100.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	808 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-58.1%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	138.7%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	888 days	1,480 days

Compare to PAAS, ATI, WTS, HL, ADVEN

In The Past

Mueller Industries's stock fell -23.6% during the 2022 Inflation Shock from a high on 7/24/2023. A -23.6% loss requires a 30.9% gain to breakeven.

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About Mueller Industries (MLI)

Mueller 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.

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Here are 1-2 brief analogies for Mueller Industries (MLI):

The **Eaton or Legrand of plumbing and HVAC infrastructure**, providing the essential, often unseen, components for a building's water and air systems instead of electricity.
Like a more focused **Parker Hannifin**, specializing in the copper pipes, brass fittings, and valves critical for plumbing, HVAC, and refrigeration systems.

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Copper Tube and Fittings: Manufactures copper tubing and various fittings for plumbing, HVAC, and refrigeration systems.
Brass and Copper Alloy Rod: Produces brass rod, copper bar, and custom copper alloy products for industrial applications.
Aluminum Extruded Products: Fabricates aluminum extrusions and custom components for diverse industrial and construction uses.
Plastic Pipe and Fittings: Manufactures PVC and other plastic pipes and fittings primarily for plumbing and infrastructure.
Climate Control Components: Produces a range of components and systems for heating, ventilation, air conditioning, and refrigeration.

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Mueller Industries (symbol: MLI) sells primarily to other companies rather than directly to individuals. The company's major customers fall into the following categories:

Wholesalers and Distributors: These companies purchase Mueller Industries' products in bulk and then resell them to contractors, retailers, and other businesses for plumbing, HVAC, and industrial applications.
Original Equipment Manufacturers (OEMs): Mueller Industries supplies components such as copper tubing, brass rods, valves, and fittings to other manufacturers who incorporate these products into their own finished goods, such as air conditioning units, refrigeration systems, and various industrial equipment.
Retailers: Certain products may be sold to large retail chains, particularly those specializing in home improvement or industrial supplies, which then sell directly to end-users (contractors or individuals).

Mueller Industries explicitly states in its public filings that it is not dependent upon a single customer or a small group of customers. In 2023, the company's largest single customer accounted for approximately 7% of its consolidated net sales, and no other customer accounted for 5% or more. Due to this diversification of its customer base, specific names of major customer companies are not disclosed in its SEC filings, and therefore, no public company symbols can be provided for individual customers.

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Gregory L. Christopher Chairman of the Board and Chief Executive Officer

Mr. Christopher has served as Chief Executive Officer of Mueller Industries since October 2008 and Chairman of the Board of Directors since January 2016. He joined the company in 1992, holding various leadership roles within the company and industry in sales, manufacturing, distribution, and supply chain management prior to his current position.

Jeffrey A. Martin Executive Vice President, Chief Financial Officer & Treasurer

Mr. Martin joined Mueller Industries in 1996 and has served as Executive Vice President, Chief Financial Officer & Treasurer since February 2013. Before joining Mueller Industries, he worked at PricewaterhouseCoopers LLP.

Christopher J. Miritello Executive Vice President, General Counsel & Secretary

Mr. Miritello has served as Executive Vice President, General Counsel & Secretary since January 1, 2017. He joined Mueller Industries in September 2015, initially serving as Deputy General Counsel until December 2016. Prior to his tenure at Mueller Industries, Mr. Miritello worked with the New York office of Willkie Farr & Gallagher LLP.

Steffen Sigloch Strategic Advisor for Industry Relations

Mr. Sigloch joined Mueller Industries in 2011 and has served as Strategic Advisor for Industry Relations since August 2025. He has held various leadership roles within the company and the industry. Before joining Mueller Industries, Mr. Sigloch served as Chief Executive Officer of Wieland Copper Products, LLC.

Nicholas William Moss President of B&K LLC

Mr. Moss has been the President of B&K LLC at Mueller Industries Inc. since May 7, 2015.

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The key risks to Mueller Industries (MLI) are primarily concentrated around its sensitivity to macroeconomic conditions, particularly within the construction sector, the volatility of raw material costs, and intense competitive pressures, including the threat of substitute products.

Sensitivity to Housing and Commercial Construction Markets: Mueller Industries' performance is significantly influenced by economic cycles, especially in the housing and commercial construction industries. Fluctuations in interest rates, the availability of credit, and general economic downturns can materially and adversely impact the company's sales, financial condition, and operational results.
Raw Material Price Volatility: The company is heavily reliant on key raw materials such as copper, brass, zinc, and aluminum. Volatility in the prices of these commodities can significantly affect Mueller Industries' cost of goods sold and operating margins, particularly if the company is unable to fully offset these increases through price adjustments or other cost-management strategies.
Competitive Pressures and Substitute Products: Mueller Industries operates in a highly competitive market where pricing pressures are prevalent. The business also faces a continuous threat from substitute products, such as plastic pipes replacing copper in plumbing systems, and aluminum-based alternatives in air-conditioning and refrigeration applications. These factors can erode market share and negatively impact the company's profitability.

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Mueller Industries, Inc. (MLI) operates in three main segments: Piping Systems, Industrial Metals, and Climate. The addressable markets for their main products and services, primarily in North America, are outlined below.

Piping Systems

Copper Tubes: The North American copper tubes market is projected to grow from USD 3.18 billion in 2024 to USD 3.44 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period. Another report states the North America copper pipes and tubes market generated a revenue of USD 1,956.2 million in 2024 and is expected to reach USD 2,659.2 million by 2030, growing at a CAGR of 4.3% from 2025 to 2030.
Plumbing Fittings (Copper and Plastic) and Valves: The plumbing segment is a significant application area for copper tubes and is expected to register the highest growth rate in the North American copper tubes market. The global brass market, which includes plumbing fixtures, was valued at USD 6.5 billion in 2023 and is projected to reach USD 10.2 billion by 2032, growing at a CAGR of 5.1% from 2025 to 2032. North America is estimated to grow at the highest rate in the brass market.

Industrial Metals

Brass Rods: The North American brass rods market held a market value of USD 1.25 billion in 2023. Another source states the North America brass rods market size will be USD 2820.05 million in 2025, accounting for more than 40% of the global revenue. The global brass rods market size is estimated to be USD 17379.68 million in 2024, with projections to grow to USD 21897.43 million by 2033 at a CAGR of 2.6%.
Fabricated Metal Products (including forgings, extrusions, and machined products): The North America fabricated metal products market size was valued at USD 4.22 billion in 2023 and is expected to reach USD 7.08 billion by 2033, growing at a CAGR of 5.31% from 2023 to 2033.
Industrial Metals (General): The North America metals and mining market sales revenue is projected to be USD 246.554 billion in 2025. The overall metal market in North America, which includes ferrous and non-ferrous metals, was valued at USD 350.0 billion in 2023.

Climate

HVAC and Refrigeration Components (including valves, protection devices, brass fittings, heat exchangers, flexible duct systems, high-pressure components): The North America HVAC system market size was valued at USD 49.10 billion in 2024 and is projected to grow from USD 51.61 billion in 2025 to USD 75.75 billion by 2032, exhibiting a CAGR of 5.6%. The North America air conditioning equipment market size stood at USD 28.97 billion in 2025 and is forecast to reach USD 38.59 billion by 2030, advancing at a 5.9% CAGR. Another report estimates the North America air conditioning systems market size was valued at USD 28.9 billion in 2023 and is poised to grow to USD 57.29 billion by 2032, growing at a CAGR of 7.9% during the forecast period (2025-2032). Furthermore, the North America air conditioning systems market was worth USD 68.68 billion in 2024 and is anticipated to reach a valuation of USD 102.77 billion by 2033, registering a CAGR of 4.58% during the forecast period 2024-2033.

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Mueller Industries (MLI) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market conditions:

Strategic Acquisitions: Mueller Industries has demonstrated a clear strategy of growing through acquisitions, with recent business integrations contributing positively to net sales. For example, the inclusion of recently acquired businesses added $102.4 million to net sales in Q3 2024, and the Nehring acquisition alone contributed $84 million in incremental sales. This approach allows the company to expand its market presence and diversify its revenue streams.
Favorable Raw Material Pricing: The company has historically benefited from increases in raw material costs, particularly copper prices, which can lead to higher selling prices for its products. In Q3 2024, higher COMEX copper prices, up 12% year-over-year, contributed to the increase in net sales. Similarly, in Q3 2025, net sales growth was primarily driven by higher selling prices due to rising raw material costs, with COMEX copper averaging 14.3% higher than the prior year.
Growth in Construction Markets: The construction industry, encompassing both new housing starts and commercial construction, is a significant demand driver for Mueller Industries' products. The company is well-positioned to capitalize on market growth in this sector, with the U.S. Census Bureau reporting strong annualized rates for new housing starts. Anticipated factors such as declining interest rates and moderating inflation are expected to create a more stable and favorable environment for the company, supporting construction activity.
Product Innovation and Diversification: Mueller Industries has an opportunity to enhance its competitive edge by innovating and diversifying its product offerings to meet evolving market demands. Investing in research and development to introduce new products can address the threat of substitutes and open new revenue streams, reducing dependency on traditional markets. Furthermore, acquisitions like Nehring are diversifying revenue away from cyclical sectors and positioning Mueller to benefit from trends in infrastructure and data center growth.

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Below is a summary of Mueller Industries' capital allocation decisions over the last 3-5 years:

Share Repurchases

Mueller Industries repurchased $243.6 million in shares year-to-date as of the third quarter of 2025.
The company completed a share buyback plan announced in March 2000, repurchasing 18,879,490 shares for $775.33 million by September 2025.
Treasury common stock increased from $(502.8) million in 2022 to $(523.4) million in 2023.

Share Issuance

Mueller Industries reported no significant share issuance for the trailing twelve months ended September 2025.

Outbound Investments

In April 2024, Mueller Industries entered into an agreement to acquire Nehring Electrical Works Company and its affiliates for approximately $575 million, with an additional $25 million earn-out clause. The acquisition was expected to close in the second quarter of 2024 and aims to enhance growth in the electrical and power infrastructure sectors.
The company acquired Elkhart Products Corporation (EPC) in August 2024 to significantly accelerate the recovery of its copper fittings business and expand manufacturing capabilities.
In 2021, Mueller Industries increased its equity interest in Mueller Middle East to 55 percent for approximately $20.0 million.

Capital Expenditures

Capital expenditures were $54.0 million in 2023.
For the period ending in the third quarter of 2025, operating cash flow funded $49.0 million in capital expenditures.
Mueller Industries anticipates approximately $5.2 million in expenditures for environmental compliance activities over the next three fiscal years.

Better Bets than Mueller Industries (MLI)

	MLI	Better Performance than MLI
Metric	Value	INDUSTRY: Industrial Machinery & Supplies & Components
Rev Chg LTM	15.7%	JBTM (92.4%), FTV (27.9%), SYM (25.7%), CR (19.6%), ESE (19.2%)
Rev Chg 3Y Avg	1.3%	XYL (18.9%), IR (9.4%), PH (7.4%), GWW (6.3%), HUBB (5.7%)
Op Mgn LTM	21.4%	GGG (26.6%), ITW (26.2%), SNA (25.8%), NDSN (24.7%), RBC (22.9%)
CFO/Rev LTM	18.2%	SNA (21.6%), ITW (20.6%), PNR (20.6%), PH (19.0%), IR (18.5%)
FCF/Rev LTM	16.3%	SNA (20.1%), PNR (19.0%), ITW (17.9%), PH (16.9%), IR (16.8%)
Total Yield	7.5%	DOV (11.1%), PKOH (9.9%), KMT (8.9%), SWK (8.3%), TKR (7.5%)
P/S	2.7	SWK (0.7), FTV (2.2), OTIS (2.5), DCI (2.5), GWW (2.6)
P/Op Inc	12.4	TKR (9.2), SWK (10.0), MIDD (10.0), THR (10.9), KMT (11.2)

	MLI	Better Performance than MLI
Metric	Value	SECTOR: Industrials
Rev Chg LTM	15.7%	VRT (28.8%), PWR (18.7%), UBER (18.2%), GE (17.7%), WM (15.9%)
Rev Chg 3Y Avg	1.3%	UBER (19.6%), GE (15.7%), BA (10.1%), RTX (9.4%), CAT (4.9%)
Op Mgn LTM	21.4%	TDG (47.4%), UNP (40.6%), ADP (26.2%), HWM (24.0%), CTAS (22.9%)
CFO/Rev LTM	18.2%	UNP (39.6%), ADP (22.8%), DE (19.7%), PH (19.0%), HON (18.4%)
FCF/Rev LTM	16.3%	UNP (24.5%), TDG (20.6%), ADP (20.1%), UBER (17.5%), PH (16.9%)
Total Yield	7.5%	UPS (15.4%), TDG (15.3%), CNI (11.6%), FDX (10.2%), UBER (8.1%)
P/S	2.7	UPS (0.8), LMT (1.6), GD (1.8), BA (2.0), RTX (2.6)
P/Op Inc	12.4	DAL (6.1), UPS (8.6), FDX (8.8), CNI (9.0), CP (12.2)

	MLI	Better Performance than MLI
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	15.7%	NVDA (65.2%), PLTR (47.2%), LLY (36.8%), AVGO (28.0%), META (21.3%)
Rev Chg 3Y Avg	1.3%	NVDA (91.6%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	21.4%	NVDA (58.8%), MSFT (46.3%), META (43.2%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	18.2%	META (56.8%), MSFT (50.0%), NVDA (44.4%), GOOGL (39.3%), AAPL (26.6%)
FCF/Rev LTM	16.3%	NVDA (41.3%), MSFT (26.6%), META (23.7%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	7.5%	XOM (9.8%), JNJ (8.4%), UNH (8.1%), BAC (7.7%), KO (7.5%)
P/S	2.7	UNH (0.7), WMT (1.2), XOM (1.5), COST (1.5), HD (2.1)
P/Op Inc	12.4	VZ (5.9), T (8.3), MRK (9.4), UNH (11.9), GILD (12.4)

		Best Bets In Industrials Sector
	MLI	GATX	VRSK	PAYX	ADT	AME	NDSN	PCTY	FTV	VRRM	CSW
What You Pay
P/E	14.7	20.1	38.1	27.6	11.1	29.5	26.6	39.3	26.9	77.1	28.4
P/EBIT	11.1	9.6	26.0	20.0	5.6	23.5	18.0	28.2	13.1	22.8	21.9
What You Get
Rev Chg Q	8.0%	8.4%	5.9%	10.2%	4.4%	10.8%	12.1%	12.5%	2.3%	16.1%	21.5%
Rev Chg LTM	15.7%	10.7%	7.3%	5.6%	6.3%	3.7%	4.5%	13.3%	27.9%	8.5%	14.9%
Rev Chg 3Y Avg	1.3%	10.3%	13.4%	6.5%	3.4%	5.9%	3.6%	21.4%	9.4%	9.1%	11.3%
FCF/Rev 3Y Avg	17.3%	39.2%	33.2%	31.6%	24.7%	23.2%	21.5%	21.5%	20.1%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Mueller Industries Earnings Notes
2	How Low Can Mueller Industries Stock Really Go?	Return
3	Mueller Industries vs Newmont: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	Mueller Industries vs Willis Lease Finance: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	How Does Mueller Industries Stock Stack Up Against Its Peers?	Peer Comparison
6	Better Bet Than MLI Stock: Pay Less Than Mueller Industries To Get More From OKE, PR
7	Why Mueller Industries Stock Moved: MLI Stock Has Gained 306% Since 2021 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
8	MLI Dip Buy Analysis
9	Mueller Industries (MLI) Valuation Ratios Comparison	Financials
10	Mueller Industries Total Shareholder Return (TSR): 71.8% in 2024 and ...% 3-yr compounded annual returns (below peer average)
11	ARTICLES
12	Mid Cap Stocks Trading At 52-Week High		December 4th, 2025
13	Mid Cap Stocks Trading At 52-Week High		November 12th, 2025
14	Mid Cap Stocks Trading At 52-Week High		October 31st, 2025
15	As IR Falls 11% in a Week, MLI’s Story Stands Out		August 6th, 2025
16	With GWW Down 10% in a Day, Is It Time to Compare It Against MLI?		August 2nd, 2025

	Title
0	DASHBOARDS
1	Mueller Industries Earnings Notes
2	How Low Can Mueller Industries Stock Really Go?
3	Mueller Industries vs Newmont: Which Is A Better Investment?
4	Mueller Industries vs Willis Lease Finance: Which Is A Better Investment?
5	How Does Mueller Industries Stock Stack Up Against Its Peers?
6	Better Bet Than MLI Stock: Pay Less Than Mueller Industries To Get More From OKE, PR
7	Why Mueller Industries Stock Moved: MLI Stock Has Gained 306% Since 2021 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
8	MLI Dip Buy Analysis
9	Mueller Industries (MLI) Valuation Ratios Comparison
10	Mueller Industries Total Shareholder Return (TSR): 71.8% in 2024 and ...% 3-yr compounded annual returns (below peer average)
11	ARTICLES
12	Mid Cap Stocks Trading At 52-Week High
13	Mid Cap Stocks Trading At 52-Week High
14	Mid Cap Stocks Trading At 52-Week High
15	As IR Falls 11% in a Week, MLI’s Story Stands Out
16	With GWW Down 10% in a Day, Is It Time to Compare It Against MLI?

Trade Ideas

Select past ideas related to MLI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	19.8%	19.8%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.2%	2.2%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.9%	5.9%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	4.2%	4.2%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	1.5%	1.5%	0.0%
MLI_11302024_Quality_Momentum_RoomToRun_10%	11302024	MLI	Mueller Industries	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-3.0%	37.9%	-14.8%
MLI_7312023_Quality_Momentum_RoomToRun_10%	07312023	MLI	Mueller Industries	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	22.4%	76.1%	-13.1%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	19.8%	19.8%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.2%	2.2%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.9%	5.9%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	4.2%	4.2%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	1.5%	1.5%	0.0%
MLI_11302024_Quality_Momentum_RoomToRun_10%	11302024	MLI	Mueller Industries	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-3.0%	37.9%	-14.8%
MLI_7312023_Quality_Momentum_RoomToRun_10%	07312023	MLI	Mueller Industries	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	22.4%	76.1%	-13.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.8	282.6%	459.2%
WVE	WAVE Life Sciences	2.7	128.5%	32.1%
ALMS	Alumis	0.8	89.8%	34.6%
NUVB	Nuvation Bio	2.9	82.4%	220.3%
SEMR	SEMrush	1.8	75.7%	-0.2%
TE	T1 Energy	0.8	70.4%
ANF	Abercrombie & Fitch	5.6	68.4%	-21.6%
CBLL	CeriBell	0.8	67.5%	-16.6%
FTRE	Fortrea	1.5	65.4%	-13.2%
VERA	Vera Therapeutics	3.1	64.7%	14.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.3%	-85.2%
RZLT	Rezolute	0.2	-80.3%	-59.0%
JANX	Janux Therapeutics	0.9	-50.9%	-73.7%
FRMI	Fermi	6.3	-50.6%
AGIO	Agios Pharmaceuticals	1.5	-43.6%	-22.6%
IMSR	Terrestrial Energy	0.7	-38.9%
LENZ	LENZ Therapeutics	0.5	-36.3%	-43.3%
LWLG	Lightwave Logic	0.4	-36.3%	41.4%
UAMY	United States Antimony	0.5	-33.7%	156.5%
BETR	Better Home & Finance	0.5	-33.6%	292.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

Peer Comparisons for Mueller Industries

Peers to compare with:

Financials

	MLI	WLK	WTS	FELE	MTRN	CR	Median
Name	Mueller .	Westlake	Watts Wa.	Franklin.	Materion	Crane
Mkt Price	112.60	73.98	277.64	97.30	124.21	183.83	118.41
Mkt Cap	12.3	9.5	9.3	4.3	2.6	10.6	9.4
Rev LTM	4,140	11,480	2,354	2,110	1,734	2,268	2,311
Op Inc LTM	887	33	447	264	145	409	336
FCF LTM	676	-365	344	202	82	334	268
FCF 3Y Avg	650	544	318	227	38	120	272
CFO LTM	754	674	387	245	160	391	389
CFO 3Y Avg	713	1,575	352	269	133	163	311

Growth & Margins

	MLI	WLK	WTS	FELE	MTRN	CR	Median
Name	Mueller .	Westlake	Watts Wa.	Franklin.	Materion	Crane
Rev Chg LTM	15.7%	-5.3%	4.2%	5.1%	3.9%	19.6%	4.6%
Rev Chg 3Y Avg	1.3%	-10.3%	6.5%	2.1%	0.3%	19.0%	1.7%
Rev Chg Q	8.0%	-9.0%	12.5%	9.5%	1.9%	7.5%	7.7%
QoQ Delta Rev Chg LTM	2.0%	-2.4%	3.0%	2.4%	0.5%	1.8%	1.9%
Op Mgn LTM	21.4%	0.3%	19.0%	12.5%	8.4%	18.0%	15.3%
Op Mgn 3Y Avg	21.4%	6.6%	17.8%	12.7%	8.1%	15.7%	14.2%
QoQ Delta Op Mgn LTM	1.0%	-2.3%	0.1%	0.3%	0.2%	0.5%	0.2%
CFO/Rev LTM	18.2%	5.9%	16.4%	11.6%	9.2%	17.2%	14.0%
CFO/Rev 3Y Avg	19.0%	12.6%	16.0%	13.0%	7.8%	7.4%	12.8%
FCF/Rev LTM	16.3%	-3.2%	14.6%	9.6%	4.7%	14.7%	12.1%
FCF/Rev 3Y Avg	17.3%	4.1%	14.4%	11.0%	2.2%	5.3%	8.1%

Valuation

	MLI	WLK	WTS	FELE	MTRN	CR	Median
Name	Mueller .	Westlake	Watts Wa.	Franklin.	Materion	Crane
Mkt Cap	12.3	9.5	9.3	4.3	2.6	10.6	9.4
P/S	2.7	0.9	4.0	2.0	1.4	4.7	2.3
P/EBIT	11.1	-14.6	21.6	21.6	39.7	25.0	21.6
P/E	14.7	-10.3	28.8	29.9	129.1	29.0	28.9
P/CFO	14.6	14.7	24.2	17.3	15.7	27.1	16.5
Total Yield	7.5%	-8.3%	4.2%	3.9%	1.0%	3.9%	3.9%
Dividend Yield	0.7%	1.4%	0.7%	0.6%	0.2%	0.5%	0.6%
FCF Yield 3Y Avg	9.8%	2.8%	4.5%	5.2%	1.6%	0.9%	3.6%
D/E	0.0	0.5	0.0	0.1	0.2	0.0	0.0
Net D/E	-0.1	0.3	-0.0	0.0	0.2	-0.0	0.0

Returns

	MLI	WLK	WTS	FELE	MTRN	CR	Median
Name	Mueller .	Westlake	Watts Wa.	Franklin.	Materion	Crane
1M Rtn	7.7%	26.4%	4.8%	5.7%	10.0%	2.9%	6.7%
3M Rtn	14.3%	-14.2%	-0.7%	3.3%	6.0%	1.9%	2.6%
6M Rtn	55.5%	5.5%	15.6%	14.1%	61.4%	3.3%	14.9%
12M Rtn	38.0%	-35.4%	30.3%	-5.4%	17.2%	15.7%	16.5%
3Y Rtn	282.9%	-24.4%	97.3%	26.3%	48.3%	81.0%	64.7%
1M Excs Rtn	6.9%	25.7%	4.1%	4.9%	9.3%	2.2%	5.9%
3M Excs Rtn	11.2%	-13.5%	-4.0%	0.1%	0.5%	-1.4%	-0.6%
6M Excs Rtn	43.1%	-6.9%	3.2%	1.8%	49.0%	-9.1%	2.5%
12M Excs Rtn	27.0%	-47.5%	17.3%	-17.5%	1.9%	0.9%	1.4%
3Y Excs Rtn	186.2%	-96.3%	16.2%	-45.6%	-19.0%	12.6%	-3.2%

Comparison Analyses

	Title
0	How Does Mueller Industries Stock Stack Up Against Its Peers?

Financials

Annual
Quarterly

$ Mil \| FY: 12/28	LTM	2024	2023	2022	2021	2020	2019
Period End	9/27/2025	12/28/2024	12/30/2023	12/31/2022	12/25/2021	12/26/2020	12/28/2019
Filing Date	10/22/2025	2/26/2025	2/28/2024	2/28/2023	2/23/2022	2/24/2021	2/26/2020
Key Financials
Total Revenue	4,140	3,769	3,420	3,982	3,769	2,398	2,431
EBITDA	1,068	874	886	921	694	273	234
Operating Income	887	762	738	869	596	223	189
Net Income	749	605	603	658	469	139	101
EPS	6.82	5.43	5.41	5.90	4.18	1.25	0.91
Growth Rates
Total Revenue Growth	15.7%	10.2%	-14.1%	5.7%	57.2%	-1.3%	-3.1%
EBITDA Growth	24.0%	-1.4%	-3.7%	32.6%	154.0%	16.6%	9.0%
Operating Income Growth	21.1%	3.3%	-15.1%	45.9%	167.1%	18.3%	12.5%
Net Income Growth	27.7%	0.3%	-8.4%	40.5%	235.9%	38.2%	-3.3%
Margins
EBITDA Margin	25.8%	23.2%	25.9%	23.1%	18.4%	11.4%	9.6%
Operating Income Margin	21.4%	20.2%	21.6%	21.8%	15.8%	9.3%	7.8%
Net Income Margin	18.1%	16.0%	17.6%	16.5%	12.4%	5.8%	4.2%
Cash & Debt
Total Cash	1,316	1,059	1,269	679	88	119	98
Total Debt	29	34	36	24	25	356	414
Net Debt / (Cash)	-1,287	-1,025	-1,233	-655	-63	237	316
Cash Flows
Net Cash from Operations	754	646	673	724	312	245	201
Free Cash from Operations	676	566	619	686	280	201	169
Returns to Shareholders
Dividends	104	89	67	56	29	22	22
Share Repurchases	244	49	19	38	5	6	2

$ Mil \| FY: 12/28	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/27/2025	6/28/2025	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022
Filing Date	10/22/2025	7/23/2025	4/23/2025	2/26/2025	10/23/2024	7/24/2024	4/24/2024	2/28/2024	10/25/2023	7/26/2023	4/26/2023	2/28/2023
Key Financials Quarterly
Total Revenue	1,078	1,138	1,000	924	998	998	850	732	820	897	971	878
Ebitda	297	342	228	201	230	233	211	188	199	252	248	197
Operating Income	261	268	192	166	204	210	183	135	183	191	229	188
Net Income	208	246	157	138	169	160	138	119	133	178	173	139
EPS	1.91	2.26	1.42	1.23	1.51	1.44	1.24	1.07	1.19	1.60	1.56	1.25
Key Financials TTM
Total Revenue TTM	4,140	4,060	3,919	3,769	3,578	3,400	3,299	3,420	3,566	3,691	3,944	3,982
Ebitda TTM	1,068	1,001	892	874	862	831	849	887	896	914	945	921
Operating Income TTM	887	830	772	764	732	711	692	738	791	814	891	869
Net Income TTM	749	710	624	605	586	550	568	603	623	644	673	658
Growth Rates Quarterly
Total Revenue Growth	8.0%	14.1%	17.7%	26.1%	21.7%	11.2%	-12.5%	-16.5%	-13.2%	-22.0%	-3.8%	-8.2%
EBITDA Growth	29.3%	46.9%	8.3%	6.8%	15.4%	-7.3%	-15.1%	-4.6%	-8.4%	-10.9%	10.7%	7.1%
Operating Income Growth	28.1%	27.4%	4.6%	23.4%	11.6%	9.8%	-19.9%	-28.4%	-10.9%	-28.9%	10.6%	12.8%
Net Income Growth	23.4%	53.5%	13.8%	15.4%	27.1%	-9.9%	-20.1%	-14.2%	-14.1%	-14.0%	9.4%	10.6%
Margins Quarterly
EBITDA Margin	27.6%	30.1%	22.8%	21.7%	23.0%	23.4%	24.8%	25.6%	24.3%	28.0%	25.6%	22.4%
Operating Income Margin	24.3%	23.5%	19.2%	18.0%	20.4%	21.0%	21.6%	18.4%	22.3%	21.3%	23.6%	21.5%
Net Income Margin	19.3%	21.6%	15.7%	14.9%	16.9%	16.1%	16.3%	16.3%	16.2%	19.8%	17.8%	15.8%
Cash & Debt
Total Cash	1,316	1,058	874	1,059	970	826	1,358	1,269	1,104	898	782	679
Total Debt	29	31	33	34	33	35	34	36	35	32	31	24
Net Debt / (Cash)	-1,287	-1,028	-841	-1,025	-936	-790	-1,324	-1,233	-1,069	-866	-751	-655
Cash Flows Quarterly
FCF from Operations	310	191	114	140	231	101	174	174	248	139	112	207
Cash Flows TTM
FCF from Operations TTM	754	676	586	646	680	696	735	673	706	770	773	724
Returns to Shareholders Quarterly
Dividends	27	27	27	22	22	22	22	17	17	17	17	14
Share Repurchases	-0	-0	244	-0	6	15	28	-0	-0	19	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	-	-	-	-	-

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Corporate and Unallocated	1,319
Piping Systems	1,030	1,089	1,160	978	796
Climate	253	280	250	259	250
Industrial Metals	158	161	173	153	162
Corporate and Eliminations		713	145	139	163
Total	2,759	2,242	1,729	1,529	1,371

Price Behavior

Price Behavior

Market Price	$112.60
Market Cap ($ Bil)	12.3
First Trading Date	02/25/1991
Distance from 52W High	-1.8%
	50 Days	200 Days
DMA Price	$106.52	$89.07
DMA Trend	up	up
Distance from DMA	5.7%	26.4%
	3M	1YR
Volatility	20.0%	28.4%
Downside Capture	66.58	93.90
Upside Capture	127.99	115.21
Correlation (SPY)	49.4%	73.3%

MLI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.03	0.73	0.76	1.02	1.06	1.15
Up Beta	0.29	0.54	0.80	1.32	1.09	1.30
Down Beta	1.20	1.00	0.90	1.11	1.08	1.23
Up Capture	152%	93%	97%	125%	119%	159%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	13	23	35	71	127	396
Down Capture	103%	49%	47%	58%	95%	97%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	7	17	26	53	120	351

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of MLI With Other Asset Classes (Last 1Y)
	MLI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	37.3%	12.7%	12.1%	61.5%	2.2%	-2.2%	-12.7%
Annualized Volatility	28.3%	19.0%	19.7%	19.3%	15.9%	17.7%	35.4%
Sharpe Ratio	1.10	0.50	0.46	2.36	-0.05	-0.28	-0.17
Correlation With Other Assets		78.0%	73.3%	-2.7%	21.2%	60.1%	29.8%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of MLI With Other Asset Classes (Last 5Y)
	MLI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	47.9%	13.1%	14.4%	18.3%	11.4%	4.8%	36.3%
Annualized Volatility	32.4%	17.2%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	1.27	0.61	0.68	0.95	0.49	0.17	0.63
Correlation With Other Assets		66.5%	57.3%	8.1%	19.5%	48.4%	25.0%

Based On 10-Year Data

		Comparison of MLI With Other Asset Classes (Last 10Y)
	MLI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	24.6%	13.1%	14.5%	14.6%	6.1%	5.4%	70.7%
Annualized Volatility	35.5%	19.9%	18.0%	14.7%	17.7%	20.8%	55.9%
Sharpe Ratio	0.72	0.59	0.69	0.82	0.27	0.23	0.91
Correlation With Other Assets		68.4%	61.2%	3.3%	27.5%	53.0%	18.8%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	2,053,618
Short Interest: % Change Since 11152025	1.0%
Average Daily Volume	629,650
Days-to-Cover Short Interest	3.26
Basic Shares Quantity	109,114,000
Short % of Basic Shares	1.9%

Returns Analyses

	Title
0	How Low Can Mueller Industries Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/21/2025	-0.2%	0.0%	2.4%
7/22/2025	1.6%	2.6%	7.0%
4/22/2025	2.8%	3.6%	10.1%
2/4/2025	2.7%	6.0%	4.3%
10/22/2024	14.1%	15.2%	25.8%
7/23/2024	-1.9%	5.1%	4.8%
4/24/2024	0.9%	-2.8%	1.6%
2/6/2024	1.4%	-0.5%	7.4%
...
SUMMARY STATS
# Positive	15	16	20
# Negative	8	7	3
Median Positive	2.7%	4.7%	6.4%
Median Negative	-0.9%	-1.9%	-7.0%
Max Positive	14.1%	15.2%	30.5%
Max Negative	-2.5%	-3.9%	-18.7%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10222025	10-Q 9/27/2025
6302025	7232025	10-Q 6/28/2025
3312025	4232025	10-Q 3/29/2025
12312024	2262025	10-K 12/28/2024
9302024	10232024	10-Q 9/28/2024
6302024	7242024	10-Q 6/29/2024
3312024	4242024	10-Q 3/30/2024
12312023	2282024	10-K 12/30/2023
9302023	10252023	10-Q 9/30/2023
6302023	7262023	10-Q 7/1/2023
3312023	4262023	10-Q 4/1/2023
12312022	2282023	10-K 12/31/2022
9302022	10192022	10-Q 9/24/2022
6302022	7202022	10-Q 6/25/2022
3312022	4202022	10-Q 3/26/2022
12312021	2232022	10-K 12/25/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	GOLDMAN SCOTT JAY		11252025	Sell	108.64	4,234	459,964	4,535,006	Form
1	Christopher Gregory L.	Chairman of the Board & CEO	10272025	Sell	104.32	158,000	16,482,560	116,759,221	Form
2	HANSEN JOHN B		10232025	Sell	105.71	1,000	105,710	9,689,801	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Mueller Industries (MLI)

Market Price (12/18/2025): $112.62 | Market Cap: $12.3 BilSector: Industrials | Industry: Industrial Machinery & Supplies & Components

Mueller Industries (MLI)

Market Price (12/18/2025): $112.62Market Cap: $12.3 BilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components

Valuation, Metrics & Events

MLI Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Mueller Industries (MLI)

Piping Systems

Industrial Metals

Climate

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Mueller Industries (MLI)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

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Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Mueller Industries

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (12/18/2025): $112.62 | Market Cap: $12.3 Bil
Sector: Industrials | Industry: Industrial Machinery & Supplies & Components

Market Price (12/18/2025): $112.62
Market Cap: $12.3 Bil
Sector: Industrials
Industry: Industrial Machinery & Supplies & Components