Mueller Industries Inc (MLI)
Return on assets (ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 602,897 | 622,565 | 644,398 | 673,239 | 658,316 | 645,011 | 661,449 | 563,729 | 468,520 | 379,339 | 251,061 | 170,185 | 139,493 | 131,243 | 117,634 | 117,664 | 100,972 | 99,659 | 90,858 | 96,054 |
| Total assets | US$ in thousands | 2,759,300 | 2,663,740 | 2,576,420 | 2,479,620 | 2,242,400 | 2,109,750 | 2,046,970 | 1,945,950 | 1,728,940 | 1,728,540 | 1,789,440 | 1,698,330 | 1,528,570 | 1,420,010 | 1,323,390 | 1,445,940 | 1,370,940 | 1,402,760 | 1,417,070 | 1,475,050 |
| ROA | 21.85% | 23.37% | 25.01% | 27.15% | 29.36% | 30.57% | 32.31% | 28.97% | 27.10% | 21.95% | 14.03% | 10.02% | 9.13% | 9.24% | 8.89% | 8.14% | 7.37% | 7.10% | 6.41% | 6.51% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $602,897K ÷ $2,759,300K
= 21.85%
Mueller Industries Inc's return on assets (ROA) has shown a fluctuating trend over the past few years. The ROA increased from 6.51% in March 2019 to its peak at 32.31% in June 2022, indicating an improvement in the company's ability to generate profits relative to its total assets. However, there was a subsequent decline in ROA to 21.85% in December 2023.
Overall, despite some fluctuations, Mueller Industries Inc has generally maintained a healthy ROA above 20% in recent periods, which suggests efficient utilization of assets to generate profits. Investors and analysts typically prefer a higher ROA as it indicates better profitability relative to the total assets employed by the company.
Peer comparison
Dec 31, 2023