Mueller Industries Inc (MLI)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Current ratio | 6.43 | 6.01 | 5.37 | 4.34 | 4.41 | 3.79 | 3.19 | 2.75 | 2.66 | 2.73 | 2.99 | 2.22 | 2.43 | 2.89 | 2.93 | 3.37 | 2.96 | 2.96 | 3.24 | 3.56 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,040,020K ÷ $317,138K
= 6.43
The current ratio of Mueller Industries Inc has demonstrated a positive trend over the periods presented. The company's ability to meet its short-term obligations has improved significantly, with the current ratio increasing from 3.56 at the end of March 2019 to 6.43 at the end of December 2023. This suggests that Mueller Industries has more than enough current assets to cover its current liabilities.
The current ratio has been consistently above 2.0, which is typically considered a healthy level indicating that the company is in a strong position to meet its short-term financial obligations. Furthermore, the current ratio has been increasing steadily, reaching its highest level of 6.43 at the end of December 2023.
This improvement in the current ratio could be attributed to factors such as efficient management of working capital, strong cash position, or a steady increase in current assets relative to current liabilities. Overall, the upward trend in Mueller Industries' current ratio indicates a strong liquidity position and suggests that the company is well-positioned to cover its short-term obligations in the near future.
Peer comparison
Dec 31, 2023