Mueller Industries Inc
NYSE:MLI
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Intrinsic Value
The intrinsic value of one MLI stock under the Base Case scenario is 54.44 USD. Compared to the current market price of 87.9 USD, Mueller Industries Inc is Overvalued by 38%.
The Intrinsic Value is calculated as the average of DCF and Relative values:
Valuation Backtest
Mueller Industries Inc
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Fundamental Analysis
Economic Moat
Mueller Industries Inc
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Mueller Industries Inc. is a leading manufacturer and distributor of copper, brass, aluminum, and plastic products, primarily serving the HVAC (heating, ventilation, and air conditioning), plumbing, and refrigeration markets. Founded in 1917, the company has built a strong reputation for quality and reliability, offering a diverse range of high-performance components. Through its commitment to innovation and operational excellence, Mueller has steadily grown its market share, capitalizing on the increasing demand for energy-efficient and sustainable solutions within the construction and manufacturing industries. The company's extensive product portfolio includes everything from piping system...
Mueller Industries Inc. is a leading manufacturer and distributor of copper, brass, aluminum, and plastic products, primarily serving the HVAC (heating, ventilation, and air conditioning), plumbing, and refrigeration markets. Founded in 1917, the company has built a strong reputation for quality and reliability, offering a diverse range of high-performance components. Through its commitment to innovation and operational excellence, Mueller has steadily grown its market share, capitalizing on the increasing demand for energy-efficient and sustainable solutions within the construction and manufacturing industries. The company's extensive product portfolio includes everything from piping systems to fittings, positioning it as a key player in essential sectors that drive economic growth.
Investors looking at Mueller Industries will find a company with a robust financial foundation and a strategic approach to growth. The company has consistently delivered strong revenue figures, driven by a solid track record of profitability and a commitment to returning capital to shareholders through dividends and share buybacks. Mueller’s proactive management team is dedicated to navigating market fluctuations and adapting to changing consumer needs, ensuring the company remains resilient in the face of economic challenges. With the ongoing push towards infrastructure development and renewable energy solutions, Mueller Industries is well-positioned to benefit from long-term industry trends, making it an appealing prospect for investors seeking stability and growth in their portfolios.
Mueller Industries, Inc. is a manufacturer and distributor of various plumbing, HVAC, and refrigeration products. The company's operations are primarily divided into several core business segments:
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Plumbing Products: This segment includes various plumbing materials such as copper and plastic tubing, fittings, valves, and fixtures. These products are designed for residential and commercial plumbing applications.
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HVAC Products: Mueller manufactures products used in heating, ventilation, and air conditioning systems. This includes a range of copper tubes and fittings, along with components like evaporators, condensers, and other HVAC-related products.
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Refrigeration Products: This segment focuses on products used in the refrigeration and air conditioning markets. This includes copper and aluminum tubing, fittings, and other components essential for refrigeration applications.
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Industrial Products: Mueller also produces a variety of industrial products, including those used in manufacturing and HVAC applications, which may include valves and fittings used in various industrial processes.
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OEM Products: The company supplies products to original equipment manufacturers (OEMs) in different markets, expanding its reach beyond traditional plumbing and HVAC markets.
These segments work together to support Mueller Industries' position as a leader in the manufacturing and distribution of essential plumbing and HVAC components. The company is known for its focus on quality, innovation, and comprehensive customer service, making it a critical player in its industry.
Mueller Industries Inc. possesses several unique competitive advantages that can set it apart from its rivals in the manufacturing and distribution of copper, brass, aluminum, and plastic products. Here are some key advantages:
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Diverse Product Portfolio: Mueller Industries offers a wide range of products that cater to various sectors, including plumbing, HVAC, and refrigeration. This diversification helps mitigate risks associated with dependence on a single market or product line.
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Strong Brand Recognition: The company has established a strong brand reputation for quality and reliability over its long history. This recognition can lead to customer loyalty and repeat business, which are essential in competitive industries.
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Established Distribution Network: Mueller Industries has a robust distribution network, which enables it to efficiently reach various markets and customers. This logistical advantage facilitates quicker delivery and better customer service.
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Cost Leadership: The company often benefits from economies of scale in production, which can lead to lower costs per unit. This cost efficiency allows for competitive pricing while maintaining healthy profit margins.
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Innovative Technologies: Mueller Industries invests in research and development to enhance its manufacturing processes and product offerings. This focus on innovation can lead to superior products and operational efficiency, setting it apart from competitors.
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Vertical Integration: The company's control over various aspects of its supply chain, from raw material sourcing to manufacturing, provides greater oversight and reduces dependency on external suppliers.
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Global Presence: With operations and sales in multiple countries, Mueller Industries can tap into different markets, reducing the impact of local economic downturns and enhancing its growth potential.
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Sustainability Initiatives: As the market increasingly shifts towards environmental consciousness, Mueller's commitment to sustainable practices and products may appeal to eco-conscious consumers and businesses, giving it a competitive edge.
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Experienced Management Team: The company's leadership often has extensive experience in the industry, allowing for strategic decision-making that capitalizes on market opportunities and navigates challenges effectively.
By leveraging these advantages, Mueller Industries Inc. can maintain a competitive position in its industry and foster long-term growth and profitability.
Mueller Industries Inc., being a leading manufacturer of copper, brass, and other metal products, faces several potential risks and challenges in the near future:
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Raw Material Price Volatility: Copper and other metals' prices can be highly volatile due to global supply and demand dynamics, geopolitical tensions, and changes in mining regulations. Sudden price increases can squeeze margins.
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Supply Chain Disruptions: The global supply chain has been under pressure due to various factors, including the COVID-19 pandemic. Disruptions can affect the availability of raw materials and components, leading to delays and increased costs.
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Regulatory Changes: Changes in environmental regulations concerning emissions, waste disposal, and recycling can increase compliance costs or necessitate operational changes. This is particularly relevant in the metals industry, which faces scrutiny regarding its environmental impact.
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Competition: The industry is competitive, with several players. New entrants or existing competitors enhancing their capabilities can affect Mueller's market share and pricing strategies.
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Technological Advancements: The introduction of new technologies can disrupt traditional manufacturing processes. Companies that fail to innovate can fall behind their competitors.
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Economic Downturns: Economic fluctuations can impact construction and manufacturing industries, leading to reduced demand for Mueller's products, particularly during economic slowdowns.
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Labor Market Challenges: Finding and retaining skilled labor can be challenging, particularly in the manufacturing sector. Labor shortages can impact production efficiency and costs.
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Currency Fluctuations: As a company engaged in international trade, Mueller is exposed to foreign currency fluctuations, which can impact revenue and profitability.
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Customer Concentration Risk: If a significant portion of the company’s revenue is derived from a few key customers, losing one of these customers could materially impact financial performance.
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Safety and Health Regulations: Stringent safety and health regulations in manufacturing can pose challenges and increase operational costs if compliance is not met.
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Sustainability Pressure: Increasing pressure from consumers and investors for sustainable practices can require Mueller to invest in more environmentally friendly processes and materials, impacting cost structures.
Mitigating these risks involves strategic planning, diversification, investment in technology, and strong relationships with suppliers and customers.
Revenue & Expenses Breakdown
Mueller Industries Inc
Balance Sheet Decomposition
Mueller Industries Inc
Current Assets | 1.9B |
Cash & Short-Term Investments | 969.6m |
Receivables | 500.6m |
Other Current Assets | 445.4m |
Non-Current Assets | 1.3B |
PP&E | 538.4m |
Other Non-Current Assets | 752.1m |
Current Liabilities | 394m |
Accounts Payable | 183.5m |
Accrued Liabilities | 7.7m |
Other Current Liabilities | 202.8m |
Non-Current Liabilities | 133.8m |
Long-Term Debt | 19k |
Other Non-Current Liabilities | 133.7m |
Earnings Waterfall
Mueller Industries Inc
Revenue
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3.6B
USD
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Cost of Revenue
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-2.6B
USD
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Gross Profit
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985.1m
USD
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Operating Expenses
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-253.6m
USD
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Operating Income
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731.4m
USD
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Other Expenses
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-145m
USD
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Net Income
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586.5m
USD
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Free Cash Flow Analysis
Mueller Industries Inc
USD | |
Free Cash Flow | USD |
MLI Profitability Score
Profitability Due Diligence
Mueller Industries Inc's profitability score is 66/100. The higher the profitability score, the more profitable the company is.
Score
Mueller Industries Inc's profitability score is 66/100. The higher the profitability score, the more profitable the company is.
MLI Solvency Score
Solvency Due Diligence
Mueller Industries Inc's solvency score is 88/100. The higher the solvency score, the more solvent the company is.
Score
Mueller Industries Inc's solvency score is 88/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
MLI Price Targets Summary
Mueller Industries Inc
Dividends
Current shareholder yield for MLI is .
Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?
Ownership
MLI Insider Trading
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Profile
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Description
Mueller Industries, Inc. engages in the manufacture of copper, brass, aluminum, and plastic products. The company is headquartered in Collierville, Tennessee and currently employs 5,337 full-time employees. The firm manufacture a range of products, including copper tube and fittings; line sets; PEX plastic tube and fittings; steel nipples; brass rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; compressed gas valves; refrigeration valves and fittings; pressure vessels; coaxial heat exchangers; and insulated flexible duct systems. The company operates in the United States and in Canada, Mexico, Great Britain, South Korea, the Middle East and China. The company has three segments. The Piping Systems segment is composed of Domestic Piping Systems Group, Great Lakes Copper, Heatlink Group, European Operations, Trading Group, Jungwoo-Mueller and Mueller Middle East. The Industrial Metals segment is composed of Brass Rod, Impacts & Micro Gauge and Brass Value-Added Products. The Climate segment is composed of Refrigeration Products, Westermeyer, Turbotec, Flex Duct and Linesets, Inc.
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IPO
Employees
Officers
The intrinsic value of one MLI stock under the Base Case scenario is 54.44 USD.
Compared to the current market price of 87.9 USD, Mueller Industries Inc is Overvalued by 38%.