MLI
Mueller Industries, Inc.
MLI's fundamentals are strong: revenue grew 21% and it turned 14% of its revenue into free cash flow, though its operating margin fell 2 points to 22%. At 14x earnings, it's trading in line with its usual 13x. Analysts expect earnings growth.
MLI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Strong |
MLI's revenue, profitability, cash flow and balance sheet are all currently healthy.
MLI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.4x | $25.12 | -54% |
| Forward | 12x | $54.84 | — |
| Fair | 13x | $52.03 | -5.1% |
| Current | 14x | $54.84 | — |
| Expensive | 16x | $63.33 | +15% |
Historical ranges are pointers, not guarantees.
MLI's PE is in its fair range at 14x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
MLI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MLI, but weaker profitability.
MLI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.41 | +13% |
| Q3 2026 | $3.90 | +16% |
| Q2 2026 | $3.83 | +22% |
| Q1 2026 | $3.82 | +39% |
| Q4 2025 | $3.43 | +29% |
| Q3 2025 | $3.35 | +30% |
| Q2 2025 | $3.15 | +30% |
| Q1 2025 | $2.75 | +10% |
| Q4 2024 | $2.65 | -0.4% |
MLI earned $3.90 per share over the past year, up 16% from the year before.
MLI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +32% |
| Q2 2026 | $1.4B | +25% |
| Q1 2026 | $1.2B | +19% |
| Q4 2025 | $962.4M | +4.2% |
| Q3 2025 | $1.1B | +8% |
| Q2 2025 | $1.1B | +14% |
| Q1 2025 | $1B | +18% |
| Q4 2024 | $923.5M | +26% |
MLI's revenue has grown year over year for 10 quarters in a row: $1.4B last quarter, up 32% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -5.8 points |
| Q2 2026 | 22% | -5 points |
| Q1 2026 | 26% | +5.6 points |
| Q4 2025 | 18% | -0.6 points |
| Q3 2025 | 26% | +4.9 points |
| Q2 2025 | 27% | +5.7 points |
| Q1 2025 | 21% | -1 points |
| Q4 2024 | 18% | 0 points |
MLI's operating margin was 20% last quarter, down 5.8 points from the same quarter a year ago.
MLI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $315M | +8% |
| Q2 2026 | $190.7M | +8% |
| Q1 2026 | $62.5M | -36% |
| Q4 2025 | $121.4M | +9.2% |
| Q3 2025 | $291.8M | +42% |
| Q2 2025 | $176.5M | +93% |
| Q1 2025 | $97M | -38% |
| Q4 2024 | $111.2M | -30% |
MLI generated $690M in free cash flow over the past year, up 1.9% from the year before.
MLI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -1.1M shares |
| 1 year | -0.8% | -1.7M shares |
| 3 years | -3.3% | -7.6M shares |
| 5 years | -3.1% | -7.1M shares |
| Available history | -2.3% | -5.3M shares |
MLI has 220M diluted shares, down 0.8% from a year ago, with $278M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $201.9M |
| Q2 2026 | $1.5M |
| Q1 2026 | $75M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $243.6M |
| Q4 2024 | — |
MLI spent $278M buying back its own shares over the past year, up 14% from the year before.
MLI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -1.2x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -1.3x | Net Cash |
| Q3 2025 | -1.2x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -1.0x | Net Cash |
| Q4 2024 | -1.3x | Net Cash |
MLI has more cash than debt.
MLI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.7 | Neutral |
| Stochastic | 7.9 | Oversold |
MLI's weekly RSI is 41 (neutral) and its Stochastic is 8 (oversold).
MLI PE vs Industrials Sector
| Metric | MLI | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 24x | 41% below |
| PE % | 56 | 58 | 2 pts below |
MLI is trading at 14x earnings, a 41% discount to the Industrials sector's median of 24x.
MLI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $57.5 | 4.7% below |
| 20 week MA | $60.4 | 9.2% below |
| 50 week MA | $61.4 | 11% below |
| 100 week MA | $52.2 | 5.1% above |
| 200 week MA | $38.8 | 41% above |
MLI has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 41% above its 200-week average.
MLI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.94 | $8.73 | +9.9% |
| 2021 | $8.73 | $14.6 | +68% |
| 2022 | $14.6 | $14.9 | +2% |
| 2023 | $14.9 | $23.6 | +58% |
| 2024 | $23.6 | $40.0 | +70% |
| 2025 | $40.0 | $59.1 | +48% |
| 2026 YTD | $59.1 | $54.8 | -7.2% |
MLI has finished every year since 2020 higher, and it's down 7.2% so far in 2026.