Mueller Industries (MLI) financial statements
Mueller Industries reported revenue of $4.2B in fiscal 2025, up 8.2% a year over 9 years.
Net income was $765M and the operating margin 22.9%, against 7.5% in 2016.
Free cash flow was $687M, and the company returned $109M in dividends and $244M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Mueller Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B | $2.3B | $2.5B | $2.4B | $2.4B | $3.8B | $4.0B | $3.4B | $3.8B | $4.2B |
| Cost of revenue | $1.7B | $1.9B | $2.2B | $2.0B | $2.0B | $2.9B | $2.9B | $2.4B | $2.7B | $3.0B |
| Gross profit | $332M | $325M | $357M | $395M | $432M | $830M | $1.1B | $987M | $1.0B | $1.2B |
| Selling, general and admin | $136M | $141M | $149M | $162M | $159M | $184M | $203M | $208M | $227M | $249M |
| Operating income | $154M | $151M | $173M | $191M | $246M | $656M | $877M | $756M | $770M | $959M |
| Interest expense | $7M | $20M | $25M | $26M | $19M | $8M | $810,000 | $1M | $410,000 | $108,000 |
| Pre-tax income | $146M | $127M | $150M | $166M | $209M | $641M | $876M | $845M | $820M | $1.0B |
| Income tax | $48M | $38M | $31M | $35M | $55M | $166M | $223M | $221M | $205M | $247M |
| Net income | $100M | $86M | $104M | $101M | $139M | $469M | $658M | $603M | $605M | $765M |
| EPS (diluted) | $0.43 | $0.37 | $0.46 | $0.45 | $0.62 | $2.06 | $2.91 | $2.65 | $2.65 | $3.43 |
| Diluted shares | 229M | 230M | 229M | 225M | 226M | 227M | 226M | 227M | 228M | 223M |
| Gross margin | 16.2% | 14.4% | 14.3% | 16.3% | 18.0% | 22.0% | 28.1% | 28.9% | 27.7% | 29.0% |
| Operating margin | 7.5% | 6.7% | 6.9% | 7.9% | 10.3% | 17.4% | 22.0% | 22.1% | 20.4% | 22.9% |
| Net margin | 4.9% | 3.8% | 4.2% | 4.2% | 5.8% | 12.4% | 16.5% | 17.6% | 16.0% | 18.3% |
Balance sheet
Fiscal years, from Mueller Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $351M | $120M | $73M | $98M | $119M | $88M | $679M | $1.3B | $1.1B | $1.4B |
| Receivables | $256M | $245M | $273M | $270M | $358M | $472M | $380M | $352M | $450M | $476M |
| Inventory | $242M | $328M | $330M | $292M | $315M | $430M | $449M | $380M | $462M | $510M |
| Total current assets | $894M | $739M | $703M | $694M | $825M | $1.0B | $1.5B | $2.0B | $2.0B | $2.4B |
| Property, plant and equipment | $295M | $304M | $371M | $363M | $377M | $386M | $380M | $385M | $515M | $536M |
| Goodwill | $124M | $130M | $150M | $153M | $168M | $171M | $158M | $152M | $311M | $298M |
| Total assets | $1.4B | $1.3B | $1.4B | $1.4B | $1.5B | $1.7B | $2.2B | $2.8B | $3.3B | $3.7B |
| Total current liabilities | $219M | $242M | $233M | $234M | $340M | $382M | $348M | $317M | $398M | $413M |
| Long-term debt | $214M | $449M | $490M | $379M | $287M | $1M | $1M | $185,000 | $0 | $0 |
| Total liabilities | $511M | $784M | $806M | $709M | $728M | $472M | $428M | $401M | $486M | $497M |
| Shareholders' equity | $899M | $522M | $548M | $643M | $777M | $1.2B | $1.8B | $2.3B | $2.8B | $3.2B |
| Net debt | -$124M | $345M | $424M | $288M | $209M | -$86M | -$459M | -$1.2B | -$1.0B | -$1.4B |
Cash flow
Fiscal years, from Mueller Industries's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $158M | $44M | $168M | $201M | $245M | $312M | $724M | $673M | $646M | $755M |
| Capital spending | $37M | $46M | $38M | $31M | $44M | $32M | $38M | $54M | $80M | $69M |
| Free cash flow | $120M | -$2M | $129M | $169M | $201M | $280M | $686M | $619M | $566M | $687M |
| Stock-based compensation | $6M | $7M | $8M | $9M | $9M | $10M | $18M | $23M | $27M | $27M |
| Dividends paid | $21M | $197M | $23M | $22M | $22M | $29M | $56M | $67M | $89M | $109M |
| Share buybacks (net) | $0 | $0 | -$34M | -$2M | -$6M | -$5M | -$38M | -$19M | -$49M | -$244M |
| Net borrowing | $2M | -$40M | $32M | -$106M | -$57M | -$326M | -$204,000 | -$241,000 | -$222,000 | -$185,000 |
| Free cash flow margin | 5.9% | -0.1% | 5.2% | 7.0% | 8.4% | 7.4% | 17.2% | 18.1% | 15.0% | 16.4% |
| Dividends per share | $0.09 | $0.86 | $0.10 | $0.10 | $0.10 | $0.13 | $0.25 | $0.29 | $0.39 | $0.49 |
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Open MLI in InvestinglyQuestions
What was Mueller Industries's revenue in 2025?
$4.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Mueller Industries generate?
$687M in fiscal 2025 (operating cash flow minus capital spending).
From Mueller Industries's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.