Mueller Industries (Mueller Industries) Total Inventories

: $380 Mil (As of Dec. 2023)

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Mueller Industries's total inventories for the quarter that ended in Dec. 2023 was $380 Mil. Mueller Industries's average total inventories from the quarter that ended in Sep. 2023 to the quarter that ended in Dec. 2023 was $386 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Mueller Industries's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $11.40.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Mueller Industries's Days Inventory for the three months ended in Dec. 2023 was 65.67.

Inventory Turnover measures how fast the company turns over its inventory within a year. Mueller Industries's Inventory Turnover for the quarter that ended in Dec. 2023 was 1.39.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Mueller Industries's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.53.

Mueller Industries Total Inventories Historical Data

The historical data trend for Mueller Industries's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Mueller Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

292.11

315.00

430.24

448.92

380.25

Mueller Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Total Inventories																448.92	452.83	465.73	391.74	380.25

Mueller Industries Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Mueller Industries (NYSE:MLI) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Mueller Industries's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(1269.039	+	0.75 * 351.561	+	0.5 * 380.248	-	400.585
-	0	-	21.271)	/	114.158
=	11.40

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Mueller Industries's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	385.994	/	536.383	*	365 / 4
	=	65.67

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Mueller Industries's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	536.383	/	385.994
	=	1.39

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Mueller Industries's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	385.994	/	732.377
	=	0.53

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Mueller Industries Total Inventories Related Terms

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Mueller Industries (Mueller Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Mueller Industries Inc (NYSE:MLI) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

MUD:Germany

Address

150 Schilling Boulevard, Suite 100, Collierville, TN, USA, 38017

Website

https://www.muellerindustries.com

Mueller Industries Inc makes copper, brass, aluminum, and plastic products. The company reports three business segments: piping systems, industrial metals, and climate. Piping systems, earning most of the company's revenue, produces tubes, fittings, rods, valves, and other products and operates various firms worldwide. The industrial metals segment manufactures impacts and micro-gauge, brass rod and copper bar products, and brass value-added products. The climate segment produces items used to create temperature-control goods, including valves, twisted tubes, coaxial heat exchangers, and others. Numerous systems use the aforementioned products, including HVAC, water distribution, refrigeration, and automotive. Most sales derive from the United States, but the company operates worldwide.

Executives

Steffen Sigloch	officer: VP, Mfg and Engineering	8285 TOURNAMENT DRIVE, SUITE 150, MEMPHIS TN 38125
John B Hansen	officer: President, Mfg Operations	8285 TOURNAMENT DRIVE SUITE 150, MEMPHIS TN 38125
Gregory L. Christopher	officer: President - Standard Products	8285 TOURNAMENT DRIVE, SUITE 150, MEMPHIS TN 38125
Scott Jay Goldman	director	8285 TOURNAMENT DRIVE, SUITE 150, MEMPHIS TN 38125
Herzog Charles P Jr	director	9581 FOX HILL CIRCLE SOUTH, GERMANTOWN TN 38139
William C. Drummond	director	1395 BRICKELL AVENUE, MIAMI FL 33131
Gary S Gladstein	director	SOROS FUND MANAGEMENT LLC, 888 SEVENTH AVE 3300, NEW YORK NY 10106
Anthony Steinriede	officer: VP - Corporate Controller	8285 TOURNAMENT DRIVE, SUITE 150, MEMPHIS TN 38125
Gary Westermeyer	officer: President, Refrigeration	8285 TOURNAMENT DRIVE, SUITE 150, MEMPHIS TN 38125
Gennaro J Fulvio	director
Kristee Michelle Ford	officer: Chief Information Officer	581 ROCKY JOE DRIVE, COLLIERVILLE TN 38017
Paul J Flaherty	director	C/O MUELLER INDUSTRIES INC., 8285 TOURNAMENT DRIVE SUITE 150, MEMPHIS TN 38125
Devin Malone	officer: President, Streamline	2321 WICKERSHAM CV, GERMANTOWN TN 38139
Christopher Andrew Mitchell	officer: President, Canadian Operations	198 PIONEER TOWER ROAD, KITCHENER A6 N2P 2H8
Elizabeth M Donovan	director	400 E OHIO STREET, CHICAGO IL 60611