Mueller Industries Inc (MLI)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 986,834 | 1,047,621 | 1,073,080 | 1,144,496 | 1,117,593 | 1,090,575 | 1,062,365 | 946,117 | 830,356 | 722,937 | 603,279 | 487,408 | 431,882 | 403,896 | 383,385 | 388,822 | 395,006 | 385,781 | 366,969 | 363,476 |
| Revenue (ttm) | US$ in thousands | 3,424,117 | 3,569,321 | 3,690,091 | 3,943,142 | 3,992,810 | 4,071,586 | 4,163,007 | 4,018,157 | 3,811,912 | 3,531,406 | 3,109,736 | 2,599,881 | 2,382,774 | 2,250,762 | 2,238,996 | 2,403,162 | 2,410,444 | 2,425,692 | 2,465,141 | 2,462,889 |
| Gross profit margin | 28.82% | 29.35% | 29.08% | 29.02% | 27.99% | 26.79% | 25.52% | 23.55% | 21.78% | 20.47% | 19.40% | 18.75% | 18.13% | 17.94% | 17.12% | 16.18% | 16.39% | 15.90% | 14.89% | 14.76% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $986,834K ÷ $3,424,117K
= 28.82%
The gross profit margin of Mueller Industries Inc has shown a fluctuating trend over the past few quarters. The margin has been increasing gradually from 14.76% in the first quarter of 2019 to 29.35% in the third quarter of 2023. This improvement indicates that the company has been effectively managing its cost of goods sold and/or increasing its sales prices.
However, it is important to note that there have been slight fluctuations in the margin, with some quarters showing slight decreases. For example, from the third quarter of 2022 to the first quarter of 2023, there was a decrease in the gross profit margin from 26.79% to 18.75%. This may indicate potential challenges in managing production costs or pricing strategies during that period.
Overall, the positive trend in the gross profit margin suggests that Mueller Industries Inc has been able to improve its profitability through efficient cost management and pricing strategies. Ongoing monitoring of this ratio will be crucial to ensure sustained profitability in the future.
Peer comparison
Dec 31, 2023