Mueller Industries Inc (MLI)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,170,890 | 461,018 | 87,924 | 119,075 | 97,944 |
| Short-term investments | US$ in thousands | 98,146 | 217,863 | 0 | 37,976 | 48,363 |
| Total current liabilities | US$ in thousands | 317,138 | 348,295 | 382,439 | 339,643 | 234,287 |
| Cash ratio | 4.00 | 1.95 | 0.23 | 0.46 | 0.62 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,170,890K
+ $98,146K)
÷ $317,138K
= 4.00
The cash ratio of Mueller Industries Inc has shown significant improvement over the years, indicating the company's ability to cover its short-term liabilities solely with its cash and cash equivalents.
In 2023, the cash ratio stands at 4.00, a substantial increase from 1.95 in 2022, reflecting a strong liquidity position. This suggests that the company holds $4.00 in cash and cash equivalents for every $1.00 of current liabilities.
Looking at the trend over the past five years, there has been a noticeable increase in the cash ratio, with the ratio significantly improving from 0.62 in 2019 to 4.00 in 2023. This improvement demonstrates the company's efforts in managing its cash flow effectively and maintaining a healthy liquidity position.
Overall, the increasing trend in Mueller Industries Inc's cash ratio indicates a strengthened liquidity position and the ability to meet its short-term obligations with ease.
Peer comparison
Dec 31, 2023