Mueller Industries Inc (MLI)
Inventory 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,601,015 | 2,691,689 | 2,787,217 | 2,961,753 | 3,074,922 | 3,174,938 | 3,238,912 | 3,212,686 | 3,134,572 | 2,959,626 | 2,705,963 | 2,299,094 | 2,139,743 | 2,026,975 | 2,039,376 | 2,206,995 | 2,204,539 | 2,221,488 | 2,275,806 | 2,273,660 |
| Inventory | US$ in thousands | 380,248 | 391,740 | 465,729 | 452,826 | 448,919 | 454,511 | 475,951 | 471,949 | 430,244 | 405,590 | 384,982 | 365,457 | 315,002 | 271,310 | 244,414 | 270,119 | 292,107 | 277,567 | 300,391 | 344,850 |
| Inventory turnover | 6.84 | 6.87 | 5.98 | 6.54 | 6.85 | 6.99 | 6.81 | 6.81 | 7.29 | 7.30 | 7.03 | 6.29 | 6.79 | 7.47 | 8.34 | 8.17 | 7.55 | 8.00 | 7.58 | 6.59 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,601,015K ÷ $380,248K
= 6.84
Mueller Industries Inc's inventory turnover has shown some fluctuation over the past few quarters, ranging from a low of 5.98 to a high of 8.34. Overall, the company has maintained a relatively stable inventory turnover ratio, with an average value of approximately 7.11 over the past five years.
A higher inventory turnover ratio indicates that the company is selling its inventory more frequently within a given period, which can be seen as a positive sign of efficient inventory management and liquidity. Conversely, a lower ratio may suggest possible inventory management issues or overstocking.
Based on the data provided, Mueller Industries Inc has generally maintained a healthy inventory turnover ratio above 6, which suggests efficient inventory management. However, the slight fluctuations in the ratios over the quarters may warrant further analysis to identify any underlying trends or challenges in inventory control.
Peer comparison
Dec 31, 2023
Dec 31, 2023