Mueller Industries Inc (MLI)
Total asset 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 |
| Total assets | US$ in thousands | 2,759,300 | 2,242,400 | 1,728,940 | 1,528,570 | 1,370,940 |
| Total asset turnover | 1.24 | 1.78 | 2.21 | 1.55 | 1.76 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,426,400K ÷ $2,759,300K
= 1.24
Mueller Industries Inc's total asset turnover has fluctuated over the past five years. The ratio indicates how efficiently the company is generating revenue from its total assets. A higher total asset turnover ratio suggests that the company is using its assets more efficiently to generate sales.
In 2021, the total asset turnover was at its peak of 2.21, indicating that the company was generating $2.21 in revenue for every dollar of total assets. This suggests a high level of efficiency in utilizing assets to drive sales.
However, in 2023, the total asset turnover decreased to 1.24, which is lower compared to the previous years. This decline could signify that the company's ability to generate sales from its assets has decreased, possibly due to changes in business operations or asset utilization.
Overall, Mueller Industries Inc should continue to monitor its total asset turnover ratio to ensure it is optimizing the use of assets to drive revenue and maintain or improve efficiency in the future.
Peer comparison
Dec 31, 2023