Mueller Industries Inc (MLI)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,040,020 | 1,534,650 | 1,019,000 | 825,361 | 693,772 |
| Total current liabilities | US$ in thousands | 317,138 | 348,295 | 382,439 | 339,643 | 234,287 |
| Current ratio | 6.43 | 4.41 | 2.66 | 2.43 | 2.96 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,040,020K ÷ $317,138K
= 6.43
Mueller Industries Inc's current ratio has exhibited variability over the past five years. The ratio stood at 6.43 at the end of 2023, reflecting a significant improvement compared to the previous year. This increase suggests that the company's current assets are more than six times its current liabilities, indicating a robust liquidity position for meeting short-term obligations. Furthermore, the current ratio has generally shown an increasing trend since 2020, demonstrating enhanced liquidity management by the company. However, it is noteworthy that there was a dip in the ratio in 2022 compared to the preceding and subsequent years. Overall, the current ratio of Mueller Industries Inc indicates a healthy financial position in terms of the ability to cover short-term liabilities with current assets.
Peer comparison
Dec 31, 2023