Mueller Industries Inc (MLI)
Working capital 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 current assets | US$ in thousands | 2,040,020 | 1,936,770 | 1,851,740 | 1,767,010 | 1,534,650 | 1,420,920 | 1,335,760 | 1,240,550 | 1,019,000 | 1,037,940 | 1,082,000 | 986,535 | 825,361 | 729,865 | 670,691 | 774,126 | 693,772 | 730,709 | 734,504 | 784,533 |
| Total current liabilities | US$ in thousands | 317,138 | 322,505 | 344,548 | 406,745 | 348,295 | 374,947 | 418,771 | 451,596 | 382,439 | 380,098 | 362,429 | 444,488 | 339,643 | 252,752 | 229,264 | 229,899 | 234,287 | 246,769 | 226,754 | 220,529 |
| Working capital turnover | 1.99 | 2.21 | 2.45 | 2.90 | 3.37 | 3.89 | 4.54 | 5.09 | 5.99 | 5.37 | 4.32 | 4.80 | 4.91 | 4.72 | 5.07 | 4.42 | 5.25 | 5.01 | 4.86 | 4.37 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,424,117K ÷ ($2,040,020K – $317,138K)
= 1.99
Over the past several quarters, Mueller Industries Inc's working capital turnover ratio has exhibited a fluctuating trend. The ratio measures the efficiency with which the company utilizes its working capital to generate revenue. A higher ratio indicates that the company is effectively utilizing its working capital to generate sales.
The working capital turnover ratio for Mueller Industries Inc has ranged from 1.99 to 5.99 over the period analyzed. The highest ratio of 5.99 was observed in the fourth quarter of 2021, indicating a strong efficiency in converting working capital into revenue. However, the ratio has shown some volatility in subsequent quarters, with fluctuations in the range of 4.32 to 5.25.
Overall, the company has demonstrated a relatively strong performance in terms of working capital turnover, with the ratio consistently above 1. This suggests that Mueller Industries Inc has been efficiently managing its working capital to generate sales revenue. However, the fluctuations in the ratio over time may warrant further investigation into the company's working capital management practices and operational efficiency.
Peer comparison
Dec 31, 2023