Mueller Industries Inc (MLI)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,426,400 | 3,989,020 | 3,813,890 | 2,366,520 | 2,406,100 |
| Receivables | US$ in thousands | 351,561 | 380,352 | 471,859 | 357,532 | 269,943 |
| Receivables turnover | 9.75 | 10.49 | 8.08 | 6.62 | 8.91 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,426,400K ÷ $351,561K
= 9.75
The receivables turnover ratio for Mueller Industries Inc has fluctuated over the past five years, indicating varying efficiency in collecting receivables.
In 2023, the receivables turnover ratio was 9.75, a decrease from the previous year's ratio of 10.49. This suggests that the company took longer to collect outstanding receivables compared to the prior year, potentially indicating a decrease in liquidity or a change in credit policies.
The ratio of 9.75 in 2023 is higher than the ratios in 2020 and 2021, indicating an improvement in receivables turnover efficiency over those years. However, it is lower than the ratio in 2022, suggesting a reversal in the positive trend seen in the previous year.
Overall, the fluctuations in the receivables turnover ratio for Mueller Industries Inc reflect changes in the company's ability to efficiently collect outstanding receivables, which can have implications for its cash flow and working capital management.
Peer comparison
Dec 31, 2023