Mueller Industries Inc (MLI)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 986,834 | 1,117,590 | 830,356 | 431,882 | 395,006 |
| Revenue | US$ in thousands | 3,426,400 | 3,989,020 | 3,813,890 | 2,366,520 | 2,406,100 |
| Gross profit margin | 28.80% | 28.02% | 21.77% | 18.25% | 16.42% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $986,834K ÷ $3,426,400K
= 28.80%
Mueller Industries Inc has shown a consistent improvement in its gross profit margin over the past five years, with the margin increasing from 16.42% in 2019 to 28.80% in 2023. This trend indicates that the company has been able to effectively control its cost of goods sold and enhance its pricing strategies to generate higher profits from its sales. The steady growth in the gross profit margin suggests that Mueller Industries has been successful in managing its production costs and maintaining pricing power in the market. This positive trend in gross profit margin reflects positively on the company's operational efficiency and profitability.
Peer comparison
Dec 31, 2023