Mueller Industries, Inc. is a global manufacturer of copper, brass, aluminum, and plastic products. The company primarily produces piping systems, industrial metals, and climate equipment for the plumbing, HVACR, appliance, and industrial manufacturing markets. Operating across North America, Europe, Asia, and the Middle East, Mueller Industries is a vertically integrated supplier of essential components for critical infrastructure and construction.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
4,178,547
3,768,766
3,420,345
3,982,455
Cost of Sales
2,966,083
2,724,328
2,433,511
2,864,862
Gross Profit
1,212,464
1,044,438
986,834
1,117,593
Selling, General & Administrative Expenses
248,651
226,696
208,172
203,086
Depreciation & Amortization Expenses
68,561
53,133
39,954
43,731
Other Operating Expenses
(63,290)
(5,780)
(17,345)
(6,373)
Operating Profit
958,542
770,389
756,053
877,149
Interest and Investment Income
49,647
55,624
23,387
16,568
Interest Expense
(108)
(410)
(1,221)
(810)
Non-Operating Income
12,860
(2,985)
52,192
(6,765)
Total Non-Operating Income
62,399
52,229
74,358
8,993
Income Before Provision for Income Taxes
1,012,362
820,462
845,232
876,031
Provision for Income Taxes
247,351
205,076
220,762
223,322
Consolidated Net Income
773,590
617,542
609,649
662,820
Net Income Attributable to Minority Interests and Other
8,399
12,663
6,752
4,504
Net Income Attributable to Common Shareholders
765,191
604,879
602,897
658,316
Basic EPS
3.50
2.71
2.71
2.95
Diluted EPS
3.43
2.65
2.65
2.91
Basic Weighted Average Shares Outstanding
218,950
222,770
222,840
223,116
Diluted Weighted Average Shares Outstanding
222,984
227,930
227,324
226,220
Shares Outstanding
222,360
227,502
228,316
228,006
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
1,367,003
1,037,229
1,170,893
461,018
Short-Term Investments
22,733
21,874
98,146
217,863
Total Cash and Cash Equivalents
1,389,736
1,059,103
1,269,039
678,881
Accounts Receivable
475,566
450,113
351,561
380,352
Total Trade Receivables
475,566
450,113
351,561
380,352
Inventories
510,463
462,279
380,248
448,919
Other Current Assets
69,980
40,734
39,173
26,501
Total Current Assets
2,445,745
2,012,229
2,040,021
1,534,653
Net Property, Plant & Equipment
563,677
547,833
420,335
402,842
Net Intangible Assets
287,080
306,357
46,208
54,785
Goodwill
298,188
311,165
151,820
157,588
Long-Term Investments
108,631
88,037
83,436
72,364
Other Long-Term Assets
29,708
25,285
17,481
20,167
Total Assets
3,733,029
3,290,906
2,759,301
2,242,399
Accounts Payable
180,577
173,743
120,485
128,000
Accrued Expenses
58,125
60,136
55,644
61,915
Current Portion of Long-Term Debt
—
1,094
796
811
Current Portion of Leases
8,520
8,117
7,893
4,942
Other Current Liabilities
165,912
154,897
132,320
152,627
Total Current Liabilities
413,134
397,987
317,138
348,295
Long-Term Debt
—
—
185
1,218
Leases
18,970
24,547
26,683
16,880
Other Long-Term Liabilities
65,019
63,964
56,579
62,042
Total Long-Term Liabilities
83,989
88,511
83,447
80,140
Total Liabilities
497,123
486,498
400,585
428,435
Common Stock
1,604
1,604
1,604
802
Treasury Stock
(847,411)
(586,530)
(523,409)
(502,779)
Additional Paid-in Capital
345,033
330,532
312,171
297,270
Accumulated Other Comprehensive Income
(50,835)
(80,279)
(47,221)
(64,175)
Retained Earnings
3,761,575
3,107,838
2,594,300
2,059,796
Total Common Shareholders' Equity
3,209,966
2,773,165
2,337,445
1,790,914
Minority Interests and Other
25,940
31,243
21,271
23,050
Total Shareholders' Equity
3,235,906
2,804,408
2,358,716
1,813,964
Total Liabilities and Shareholders' Equity
3,733,029
3,290,906
2,759,301
2,242,399
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
773,590
617,542
609,649
662,820
Depreciation & Amortization
68,561
53,133
39,954
43,731
Share-Based Compensation Expense
26,764
26,787
23,131
17,801
Other Adjustments
(66,051)
14,077
(36,494)
(18,038)
Changes in Trade Receivables
(19,093)
(56,565)
30,915
82,713
Changes in Inventories
(40,428)
(32,768)
67,903
(24,189)
Changes in Accounts Payable
35,078
24,360
(40,606)
(26,633)
Changes in Other Operating Activities
(22,977)
(658)
(21,686)
(14,262)
Cash from Operating Activities
755,444
645,908
672,766
723,943
Capital Expenditure
(68,805)
(80,203)
(54,025)
(37,639)
Proceeds from Sale of Property, Plant & Equipment
38,508
12,005
279
7,850
Purchases of Investments
(71,529)
(28,110)
(106,231)
(217,863)
Proceeds from Sale of Investments
88,436
98,465
273,317
—
Payments for Business Acquisitions
—
(602,692)
—
—
Other Investing Activities
(11,521)
(6,400)
21,740
5,649
Cash from Investing Activities
(24,911)
(606,935)
135,080
(242,003)
Issuance of Long-Term Debt
—
397
(30)
67
Repayments of Long-Term Debt
(185)
(222)
(241)
(204)
Net Issuance / (Repayments) of Long-Term Debt
(185)
175
(271)
(137)
Repurchases of Common Shares
(273,143)
(71,546)
(28,058)
(39,483)
Net Issuance / (Repurchases) of Common Shares
(273,143)
(71,546)
(28,058)
(39,483)
Common Share Dividends Paid
(109,050)
(89,107)
(66,868)
(55,787)
Other Financing Activities
(12,240)
—
(9,312)
(7,248)
Cash from Financing Activities
(394,618)
(160,478)
(104,509)
(102,655)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
10,347
(13,823)
5,590
(4,365)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash