Mueller Industries Inc (MLI)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 602,897 | 658,316 | 468,520 | 139,493 | 100,972 |
| Total assets | US$ in thousands | 2,759,300 | 2,242,400 | 1,728,940 | 1,528,570 | 1,370,940 |
| ROA | 21.85% | 29.36% | 27.10% | 9.13% | 7.37% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $602,897K ÷ $2,759,300K
= 21.85%
Mueller Industries Inc's Return on Assets (ROA) has shown a consistent upward trend over the past five years, indicating improved efficiency in generating profits from its assets. The ROA increased from 7.37% in 2019 to 21.85% in 2023. This reveals a significant improvement in the company's ability to utilize its assets to generate profits for shareholders. The consistent growth in ROA demonstrates effective asset management and operational efficiency within the company. Overall, the increasing trend in ROA signifies positive financial performance and a strong utilization of resources by Mueller Industries Inc.
Peer comparison
Dec 31, 2023