Mueller Industries Inc (MLI)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 185 | 1,218 | 1,064 | 286,593 | 378,724 |
| Total assets | US$ in thousands | 2,759,300 | 2,242,400 | 1,728,940 | 1,528,570 | 1,370,940 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.19 | 0.28 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $185K ÷ $2,759,300K
= 0.00
The debt-to-assets ratio for Mueller Industries Inc has shown a consistent downward trend over the past five years, indicating a decreasing reliance on debt to finance its assets. The ratio stood at 0.00 for the years 2021, 2022, and 2023, signaling that the company had no debt relative to its total assets in these years.
In comparison, the ratio was 0.19 in 2020 and 0.28 in 2019, suggesting a higher level of debt relative to assets in those years. The significant drop in the debt-to-assets ratio from 2019 to 2020 indicates a reduction in financial leverage and potential improvements in the company's financial health and risk profile.
Overall, the declining trend in the debt-to-assets ratio for Mueller Industries Inc signifies a conservative approach to capital structure management and a lower level of financial risk for the company.
Peer comparison
Dec 31, 2023