Mueller Industries Inc (MLI)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.11 | 0.37 | 0.34 | 0.37 | 0.48 | 0.48 | 0.73 | 0.59 | 0.71 | 0.81 | 0.99 |
| Financial leverage ratio | 1.18 | 1.20 | 1.22 | 1.26 | 1.25 | 1.30 | 1.36 | 1.42 | 1.41 | 1.56 | 1.89 | 2.02 | 1.97 | 1.98 | 1.97 | 2.24 | 2.13 | 2.31 | 2.41 | 2.61 |
Mueller Industries Inc's solvency ratios indicate the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has consistently been low, indicating that the company has little reliance on debt to finance its assets. The debt-to-capital and debt-to-equity ratios have shown a fluctuating trend over the periods, with a general increase over time. This suggests the company has been relying more on debt financing compared to equity, which could increase financial risk.
The financial leverage ratio has also increased steadily, indicating that the company's level of debt relative to its equity has been on the rise. This implies that Mueller Industries Inc has been using more debt to fund its operations and investments. Overall, while the company has maintained a low debt-to-assets ratio, the increasing debt-to-capital, debt-to-equity, and financial leverage ratios signal a growing reliance on debt financing, which may lead to increased financial risk and interest burden in the long run if not managed effectively.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 675.58 | 1,299.60 | 1,110.46 | 1,137.75 | 1,089.44 | 935.41 | 530.50 | 225.26 | 83.29 | 45.76 | 23.32 | 13.71 | 11.12 | 9.73 | 8.26 | 7.53 | 6.30 | 6.08 | 5.48 | 5.92 |
Mueller Industries Inc's interest coverage ratio has exhibited significant fluctuations over the past two years based on the data provided. The interest coverage ratio is a measure of a company's ability to cover its interest expenses with its operating income. Higher values indicate a stronger ability to meet interest payments, while lower values may indicate potential financial distress.
From the data, we can see that Mueller Industries Inc's interest coverage ratio has varied widely, ranging from a high of 1,299.60 in September 2023 to a low of 5.48 in March 2019. The substantial increase in the interest coverage ratio in September 2023 compared to the previous quarters suggests significant improvement in the company's ability to service its debt obligations from its operating income.
However, it is important to note that the interest coverage ratio has been volatile, with fluctuations observed between each reporting period. This volatility may indicate changes in the company's financial performance, profitability, or debt levels that could impact its ability to cover interest expenses in the future.
Overall, based on the data provided, Mueller Industries Inc's interest coverage ratio has shown both strengths and weaknesses. Investors and analysts should continue to monitor the company's financial performance and debt management practices to assess its long-term sustainability.