Mueller Industries Inc (MLI)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 2,337,440 | 2,221,240 | 2,116,230 | 1,962,310 | 1,790,910 | 1,625,240 | 1,510,460 | 1,370,400 | 1,222,120 | 1,107,560 | 945,716 | 841,146 | 776,745 | 717,621 | 670,681 | 645,687 | 643,468 | 607,648 | 588,271 | 565,398 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.10 | 0.27 | 0.25 | 0.27 | 0.32 | 0.33 | 0.42 | 0.37 | 0.42 | 0.45 | 0.50 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $185K ÷ ($185K + $2,337,440K)
= 0.00
The debt-to-capital ratio for Mueller Industries Inc has fluctuated over the past few years, with a general trend of increase observed. The ratio was consistently low at 0.00 for most of 2020 and 2021, signifying minimal debt relative to total capital during that period. However, starting from the third quarter of 2021, there was a noticeable uptick in the ratio, reaching 0.10 by the end of 2021.
Subsequently, the ratio continued to rise throughout 2022 and 2023, indicating a higher proportion of debt in the company's capital structure. By the end of 2023, the debt-to-capital ratio stood at 0.50, reflecting a significant increase compared to the earlier periods.
This suggests that Mueller Industries Inc has been relying more on debt financing relative to its capital base in recent years. As a higher debt-to-capital ratio can indicate increased financial risk and leverage, investors and stakeholders may monitor the company's debt management strategies closely to ensure sustainable growth and financial stability.
Peer comparison
Dec 31, 2023