$1.8 B

MLI Mkt cap, 18-Mar-2019

$2.5 B

Mueller Industries Revenue FY, 2018
Mueller Industries Gross profit (FY, 2018)357.5 M
Mueller Industries Gross profit margin (FY, 2018), %14.3%
Mueller Industries Net income (FY, 2018)106.8 M
Mueller Industries EBIT (FY, 2018)173 M
Mueller Industries Cash, 29-Dec-201872.6 M

Mueller Industries Revenue Breakdown

Embed Graph

Mueller Industries revenue breakdown by business segment: 55.6% from Tube and Fittings, 19.9% from Brass Rod and Forgings, 12.0% from OEM Components, Tube & Assemblies, 8.8% from Valves and Plumbing Specialties and 3.7% from Other

Mueller Industries revenue breakdown by geographic segment: 68.7% from United States, 10.2% from United Kingdom, 12.4% from Canada, 5.4% from Asia and 3.4% from Other

Mueller Industries Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

2.1b2.1b2.3b2.5b

Revenue growth, %

(2%)10%

Cost of goods sold

1.9b2.0b1.8b1.7b1.9b2.2b

Gross profit

290.3m332.1m325.5m357.5m

Gross profit Margin, %

14%16%14%14%

General and administrative expense

130.4m137.5m139.6m

Operating expense total

130.4m137.5m139.6m

Depreciation and amortization

32.4m33.7m34.6m35.1m33.9m39.6m

EBIT

270.9m154.0m137.3m152.7m152.0m173.0m

EBIT margin, %

7%7%7%7%

Interest expense

4.0m5.7m7.7m7.4m19.5m25.2m

Pre tax profit

131.8m146.0m127.0m150.4m

Income tax expense

98.1m45.5m43.4m48.1m37.9m(31.0m)

Net Income

173.3m102.5m88.4m99.8m87.0m106.8m

Mueller Industries Balance Sheet

Annual

USDY, 2009Y, 2010Y, 2011Y, 2012FY, 2013Y, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

346.0m394.1m514.2m198.9m311.8m352.1m274.8m351.3m120.3m72.6m

Accounts Receivable

251.6m256.3m244.8m

Inventories

251.7m256.6m239.4m242.0m327.9m329.8m

Current Assets

874.7m941.2m800.4m894.3m739.1m702.6m

PP&E

244.5m245.9m280.2m295.2m304.3m370.6m

Goodwill

120.3m124.0m130.3m

Total Assets

1.2b1.3b1.3b1.4b1.3b1.4b

Accounts Payable

80.9m100.7m88.1m103.2m102.5m103.8m

Short-term debt

11.8m13.7m16.5m

Current Liabilities

219.3m238.1m209.4m219.0m242.3m232.8m

Long-term debt

204.3m213.7m448.6m

Total Debt

216.0m227.4m465.1m

Total Liabilities

511.9m479.1m511.0m784.1m806.3m

Common Stock

802.0k802.0k802.0k

Additional Paid-in Capital

267.1m268.6m271.2m273.3m274.6m276.8m

Retained Earnings

908.3m992.8m1.1b1.1b743.5m824.7m

Total Equity

735.9m795.4m859.7m936.4m536.0m563.3m

Debt to Equity Ratio

0.3 x0.2 x0.9 x

Debt to Assets Ratio

0.2 x0.2 x0.4 x

Financial Leverage

1.7 x1.7 x1.6 x1.5 x2.5 x2.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

322.2m233.5m242.2m259.9m326.9m299.1m220.7m270.1m283.2m297.8m146.9m167.6m106.3m91.6m281.4m104.7m

Accounts Receivable

275.9m305.3m295.7m312.1m287.8m276.7m321.8m333.9m308.2m

Inventories

234.1m279.5m291.1m282.5m246.4m278.9m250.8m240.6m250.0m251.1m252.0m252.8m284.1m329.2m294.5m313.4m

Current Assets

924.3m885.2m946.0m924.2m941.1m930.8m825.5m820.8m865.7m873.6m756.1m743.8m692.8m762.8m937.5m761.2m

PP&E

222.8m243.9m245.4m246.2m244.9m261.1m270.7m278.5m297.9m289.1m296.4m284.6m283.8m300.1m284.8m360.7m

Goodwill

94.0m119.9m108.4m103.2m102.6m101.5m163.1m121.1m128.3m128.0m124.3m137.1m139.4m137.0m139.0m150.4m

Total Assets

1.3b1.3b1.3b1.3b1.3b1.3b1.4b1.4b1.4b1.4b1.3b1.3b1.2b1.3b1.5b1.4b

Accounts Payable

76.7m109.5m101.7m92.3m100.8m89.7m113.6m98.3m105.1m92.5m117.3m105.9m125.0m115.4m112.1m121.4m

Short-term debt

4.6m16.2m16.9m14.9m14.6m14.5m9.1m60.0m9.3m

Current Liabilities

244.2m235.4m268.2m233.3m224.2m209.5m229.5m202.6m218.0m202.2m231.7m219.2m245.2m213.3m273.5m244.3m

Long-term debt

206.0m213.6m213.8m489.8m489.0m388.8m478.8m558.5m510.0m

Total Debt

210.6m229.9m230.8m504.7m503.6m403.3m487.9m618.5m519.3m

Total Liabilities

566.2m524.6m556.9m520.2m517.0m500.3m525.3m474.5m501.7m489.5m798.2m791.3m719.2m783.8m924.3m838.3m

Common Stock

802.0k802.0k802.0k802.0k802.0k802.0k802.0k802.0k802.0k

Additional Paid-in Capital

266.7m267.3m269.4m267.4m269.6m270.8m269.5m273.6m274.9m271.5m273.1m274.8m272.7m276.4m278.0m274.8m

Retained Earnings

896.4m928.7m959.5m979.1m1.0b1.0b1.1b1.1b1.1b1.1b705.2m727.1m743.6m761.3m788.8m803.6m

Total Equity

694.4m758.2m792.9m807.6m807.8m844.7m848.2m886.5m918.8m936.6m506.7m506.0m530.0m553.1m572.1m583.4m

Debt to Equity Ratio

0.2 x0.3 x0.2 x1 x1 x0.8 x0.9 x1.1 x0.9 x

Debt to Assets Ratio

0.2 x0.2 x0.2 x0.4 x0.4 x0.3 x0.4 x0.4 x0.4 x

Financial Leverage

1.8 x1.7 x1.7 x1.6 x1.6 x1.6 x1.6 x1.5 x1.5 x1.5 x2.6 x2.6 x2.4 x2.4 x2.6 x2.4 x

Mueller Industries Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

173.3m102.5m88.4m99.8m87.0m106.8m

Depreciation and Amortization

32.4m33.7m34.6m35.1m33.9m39.6m

Accounts Receivable

19.4m51.7m(16.5m)(1.8m)(11.3m)

Inventories

6.0m1.4m41.1m6.7m(86.3m)27.5m

Accounts Payable

(14.1m)5.8m(45.6m)5.6m10.7m(15.7m)

Cash From Operating Activities

128.5m90.6m159.6m157.8m44.0m167.9m

Cash From Investing Activities

(3.0m)(38.4m)(190.8m)(53.1m)(33.4m)(187.1m)

Long-term Borrowings

(1.0m)(1.0m)(24.6m)(1.1m)(114.6m)(172.0m)

Dividends Paid

(16.9m)(25.0m)(199.9m)

Cash From Financing Activities

(13.6m)(10.6m)(41.3m)(22.6m)(244.6m)(28.3m)

Net Change in Cash

(77.3m)76.5m(231.0m)

Free Cash Flow

87.2m51.4m130.8m120.3m(2.1m)129.4m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

40.0m25.0m60.2m84.5m22.3m56.2m74.3m28.7m56.9m83.0m30.5m58.3m81.0m24.3m58.2m79.1m

Depreciation and Amortization

7.9m8.2m16.8m25.9m7.9m16.3m25.1m9.0m18.2m27.3m8.4m17.1m25.4m9.5m18.6m29.3m

Accounts Receivable

(49.5m)(100.4m)(62.9m)(24.3m)5.2m(25.1m)(52.3m)(45.8m)(53.8m)(47.1m)(33.4m)(72.8m)(90.3m)(42.2m)

Inventories

(10.1m)(20.6m)(14.9m)(5.3m)29.9m(1.6m)1.2m(914.0k)(7.0m)(10.9m)(40.9m)3.5m33.4m48.7m

Accounts Payable

(1.3m)7.4m(8.7m)(19.6m)(27.6m)655.0k(1.3m)(16.0m)8.2m(1.3m)21.0m(23.9m)(11.6m)(7.9m)

Cash From Operating Activities

(44.7m)(50.9m)4.2m17.2m95.5m10.3m41.9m70.6m(11.4m)12.5m53.5m(26.5m)36.2m122.5m

Cash From Investing Activities

(32.7m)(42.3m)(51.1m)(42.9m)(188.5m)(5.8m)(27.8m)(29.7m)(7.1m)(6.7m)(2.8m)(17.9m)(12.6m)(166.3m)

Long-term Borrowings

(250.0k)(500.0k)(800.0k)(500.0k)(750.0k)(7.3m)(500.0k)(769.0k)(76.8m)(3.9m)(104.4m)(19.2m)(40.2m)(142.5m)

Dividends Paid

(4.2m)(9.9m)(19.3m)(179.8m)(188.4m)(194.1m)(5.7m)(12.0m)(17.6m)

Cash From Financing Activities

(1.1m)23.2m(4.7m)(26.4m)(34.8m)(9.1m)(3.4m)(14.4m)(188.4m)(193.2m)(300.2m)10.3m134.6m26.7m

Net Change in Cash

(4.7m)8.3m22.9m(204.4m)(183.8m)(245.0m)(32.8m)157.9m(17.5m)

Free Cash Flow

(53.9m)(69.7m)(24.2m)1.2m73.0m4.4m31.6m55.0m(18.8m)639.0k36.2m(32.0m)25.3m105.8m

Mueller Industries Ratios

USDY, 2018

Revenue/Employee

488.5k

Financial Leverage

2.4 x
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Mueller Industries Operating Metrics

FY, 2015FY, 2016FY, 2017

Facilities

30 33 32

Facilities Leased

14 14 15

Facilities Owned

16 19 17

Manufacturing Facilities

29 32 31
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