Mueller Industries Inc (MLI)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | 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 |
| Receivables | US$ in thousands | 351,561 | 380,352 | 471,859 | 357,532 | 269,943 |
| Total current liabilities | US$ in thousands | 317,138 | 348,295 | 382,439 | 339,643 | 234,287 |
| Quick ratio | 5.11 | 3.04 | 1.46 | 1.52 | 1.78 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,170,890K
+ $98,146K
+ $351,561K)
÷ $317,138K
= 5.11
The quick ratio of Mueller Industries Inc has exhibited fluctuations over the past five years. The quick ratio indicates the company's ability to meet its short-term obligations with its most liquid assets.
The quick ratio saw a significant increase in 2023, reaching 5.11, signifying a substantial improvement in liquidity compared to the previous year. This increase suggests that the company has a higher proportion of liquid assets relative to its current liabilities, which may indicate a stronger ability to cover short-term obligations.
In 2022, the quick ratio was 3.04, showing a decrease from the previous year but still indicating a relatively strong liquidity position. The ratio suggests that the company had sufficient liquid assets to cover its short-term liabilities.
The quick ratio in 2021 was 1.46, indicating a slight decline from the previous year. This ratio suggests that the company may have faced some challenges in meeting its short-term obligations with its readily available assets.
In 2020, the quick ratio was 1.52, showing a marginal increase from the previous year. This ratio suggests that the company had just enough liquid assets to cover its short-term liabilities.
In 2019, the quick ratio was 1.78, indicating a relatively strong liquidity position that year. This ratio suggests that the company had a comfortable margin of liquid assets to cover its short-term liabilities.
Overall, the trend in the quick ratio of Mueller Industries Inc shows variability, with fluctuations indicating changes in the company's ability to meet its short-term obligations with its liquid assets over the past five years.
Peer comparison
Dec 31, 2023