Mueller Industries Inc (MLI)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,424,117 | 3,569,321 | 3,690,091 | 3,943,142 | 3,992,810 | 4,071,586 | 4,163,007 | 4,018,157 | 3,811,912 | 3,531,406 | 3,109,736 | 2,599,881 | 2,382,774 | 2,250,762 | 2,238,996 | 2,403,162 | 2,410,444 | 2,425,692 | 2,465,141 | 2,462,889 |
| Property, plant and equipment | US$ in thousands | 385,165 | 376,678 | 386,928 | 377,324 | 379,950 | 374,160 | 388,139 | 380,711 | 385,562 | 370,222 | 385,246 | 384,853 | 376,572 | 368,736 | 362,785 | 366,828 | 363,128 | 361,308 | 365,025 | 369,710 |
| Fixed asset turnover | 8.89 | 9.48 | 9.54 | 10.45 | 10.51 | 10.88 | 10.73 | 10.55 | 9.89 | 9.54 | 8.07 | 6.76 | 6.33 | 6.10 | 6.17 | 6.55 | 6.64 | 6.71 | 6.75 | 6.66 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,424,117K ÷ $385,165K
= 8.89
The fixed asset turnover ratio measures how efficiently a company generates sales revenue from its investment in fixed assets. Mueller Industries Inc's fixed asset turnover ratio has shown fluctuations over the past years, ranging from a low of 6.10 to a high of 10.88.
The trend indicates that the company has generally been able to generate increasing sales from its fixed assets, with the ratio peaking at 10.88 in the third quarter of 2022. However, there seems to be some variability in the ratio, as it has fluctuated between periods.
Overall, a higher fixed asset turnover ratio suggests that Mueller Industries Inc is effectively utilizing its fixed assets to generate revenue. Investors and stakeholders would be interested in monitoring this ratio to assess the company's operational efficiency and productivity in utilizing its fixed assets.
Peer comparison
Dec 31, 2023