Mueller Industries Inc (MLI)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 185 | 1,301 | 1,267 | 1,251 | 1,218 | 1,184 | 1,131 | 1,098 | 1,064 | 121,012 | 350,996 | 286,576 | 286,593 | 342,972 | 323,114 | 468,234 | 378,724 | 434,082 | 479,276 | 559,836 |
| 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 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.07 | 0.20 | 0.17 | 0.19 | 0.24 | 0.24 | 0.32 | 0.28 | 0.31 | 0.34 | 0.38 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $185K ÷ $2,759,300K
= 0.00
The debt-to-assets ratio of Mueller Industries Inc has fluctuated over the past few years, indicating changes in the company's capital structure and financial risk management. The ratio was relatively stable at low levels of 0.00 for the periods up to March 2021. However, there was a noticeable increase in the ratio from June 2021 to September 2021, reaching 0.20 and then further increasing to 0.38 by December 2019. This suggests that the company started to rely more on debt to finance its assets during this period.
Subsequently, there was a decline in the debt-to-assets ratio, indicating a reduction in the company's debt relative to its assets. The ratio decreased from 0.38 in December 2019 to 0.00 by December 2023, which could be a result of debt repayment, improved profitability, or a shift towards a more conservative capital structure with lower leverage.
Overall, the trend of declining debt-to-assets ratio suggests that Mueller Industries Inc has potentially been reducing its financial leverage and strengthening its financial position in recent periods. However, it is important to consider the reasons behind these fluctuations and further assess the company's overall financial health and risk profile.
Peer comparison
Dec 31, 2023