Mueller Industries Inc (MLI)
Total 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 |
| Total assets | US$ in thousands | 2,759,300 | 2,663,740 | 2,576,420 | 2,479,620 | 2,242,400 | 2,109,750 | 2,046,970 | 1,945,950 | 1,728,940 | 1,728,540 | 1,789,440 | 1,698,330 | 1,528,570 | 1,420,010 | 1,323,390 | 1,445,940 | 1,370,940 | 1,402,760 | 1,417,070 | 1,475,050 |
| Total asset turnover | 1.24 | 1.34 | 1.43 | 1.59 | 1.78 | 1.93 | 2.03 | 2.06 | 2.20 | 2.04 | 1.74 | 1.53 | 1.56 | 1.59 | 1.69 | 1.66 | 1.76 | 1.73 | 1.74 | 1.67 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,424,117K ÷ $2,759,300K
= 1.24
Mueller Industries Inc's total asset turnover has shown varying trends over the past several quarters. The total asset turnover ratio indicates the company's ability to generate sales revenue from its assets. From December 2019 to March 2020, there was a gradual increase in total asset turnover, reaching a peak of 2.20 in December 2021. This suggests that the company was efficiently utilizing its assets to generate sales during this period.
However, from December 2021 to September 2022, the total asset turnover ratio declined, indicating a potential decrease in sales generated per dollar of assets. This trend reversed in the following quarters, with an increase in total asset turnover from September 2022 to March 2023, peaking at 2.06.
The ratio continued to fluctuate in subsequent quarters but generally remained above 1.5, indicating that Mueller Industries Inc has been effectively using its assets to generate sales. A total asset turnover ratio above 1 signifies that the company is generating more sales relative to its total assets, which is generally favorable.
Overall, Mueller Industries Inc's total asset turnover ratio has demonstrated some volatility but has generally shown a positive trend in efficiently utilizing its assets to drive sales revenue.
Peer comparison
Dec 31, 2023