What is Mueller Industries Return-on-Tangible-Asset?
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Mueller Industries's annualizedNet Income for the quarter that ended in Mar. 2024 was $553 Mil. Mueller Industries's average total tangible assets for the quarter that ended in Mar. 2024 was $2,630 Mil. Therefore, Mueller Industries's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2024 was 21.05%.
The historical rank and industry rank for Mueller Industries's Return-on-Tangible-Asset or its related term are showing as below:
MLI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 7.03 Med: 8.89 Max: 37.34
Current: 22.98
During the past 13 years, Mueller Industries's highest Return-on-Tangible-Asset was 37.34%. The lowest was 7.03%. And the median was 8.89%.
MLI's Return-on-Tangible-Asset is ranked better than 98.38% of 3017
companies
in the Industrial Products industry
Industry Median: 3.88
vs MLI: 22.98
Mueller Industries Return-on-Tangible-Asset Historical Data
The historical data trend for Mueller Industries's Return-on-Tangible-Asset 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.
Competitive Comparison of Mueller Industries's Return-on-Tangible-Asset
For the Metal Fabrication subindustry, Mueller Industries's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mueller Industries's Return-on-Tangible-Asset Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Mueller Industries's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Mueller Industries's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2024) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Mueller Industries Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Mueller Industries's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Mueller Industries (Mueller Industries) Business Description
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.
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