Mueller Industries Inc (MLI)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,170,890 | 979,790 | 771,317 | 611,399 | 461,018 | 483,496 | 202,501 | 139,255 | 87,924 | 104,789 | 110,681 | 129,876 | 119,075 | 113,640 | 123,610 | 154,283 | 97,944 | 100,338 | 91,440 | 97,596 |
| Short-term investments | US$ in thousands | 98,146 | 124,680 | 127,051 | 170,997 | 217,863 | — | — | — | 0 | 65,000 | 36,899 | — | 37,976 | 27,423 | 32,443 | 44,683 | 48,363 | 46,369 | 47,692 | 50,733 |
| 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 |
| Cash ratio | 4.00 | 3.42 | 2.61 | 1.92 | 1.95 | 1.29 | 0.48 | 0.31 | 0.23 | 0.45 | 0.41 | 0.29 | 0.46 | 0.56 | 0.68 | 0.87 | 0.62 | 0.59 | 0.61 | 0.67 |
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 fluctuations over the past few years. The cash ratio measures the company's ability to cover its current liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.
In the most recent period, as of December 31, 2023, the cash ratio stood at 4.00, which indicates a significant improvement in liquidity compared to the previous quarters. This could suggest that Mueller Industries has built up a substantial cash position relative to its current liabilities.
Looking back over the past few years, the cash ratio has generally trended upwards since March 2020, indicating an improvement in the company's liquidity position. However, there have been some fluctuations in the ratio, with some quarters showing lower levels of liquidity.
It is essential to consider the context of the industry and company-specific circumstances when interpreting the cash ratio. Overall, a high cash ratio can signal financial strength and the ability to meet short-term obligations without relying on external financing.
Peer comparison
Dec 31, 2023