MLI
Mueller Industries, Inc.

Mueller Industries, Inc.MLI

Industrials · Metal Fabrication
52.96USD
+0.99%
Nov 08, 2026
MLI overview ready
Supplier of Medium-Voltage Cable and Electrical Components to Utilities
MLI is a diversified metal-products manufacturer with a meaningful electrical-products business through Nehring Electrical Works and related operations, supplying bare and insulated copper and aluminum wire, underground power cable, ground rod, aluminum-clad steel, copper-clad steel, building wire, and medium-voltage cable to utility, municipal, telecommunications, electrical-distribution, and OEM customers.
Primary theme is improving
Diversified Industrials is improving (+8.5pp vs SPY over 21 sessions; 16 of 24 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Exposure to cyclical construction and infrastructure spending.
Market Nov 6Filing Sep 26Price action Nov 7Research Sep 25

Conviction Level

PriceAction5.4BusinessPerformance5.0BusinessQuality8.6Valuation8.0ThemeMomentum7.0Mixed — Revenue growth has accelerated across 4 consecutive quarters, rising from +4.2% to +32% year over year. Diluted EPS is up 6% year over year at $1.00. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+8.5pp
Theme return
+3.5%
Beating SPY
16 of 24
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$11.5B
Avg Volume (60D)
1.8M
60 sessions
Revenue Growth YoY
+10.9%
FY2025 vs FY2024
Gross Margin
+25.4%
Trailing twelve months
Operating Margin
+21.5%
Trailing twelve months
Free Cash Flow Yield
+6.0%
Distance from 200DMA
-14.2%
P/E
13.4x
EV / EBITDA
8.8x
EV / Sales
2.0x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 26, 2026
Filed balance-sheet data as of Sep 26, 2026

Business Performance

Mixed

Revenue growth has accelerated across 4 consecutive quarters, rising from +4.2% to +32% year over year. Diluted EPS is up 6% year over year at $1.00.

Latest reported: Q3 FY2026, ended Sep 26
Revenue growthAccelerating
+32%
$1.42B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +4.2%
  2. +19%
  3. +26%
  4. +32%
Earnings growthGrowing
+6.4%
Diluted EPS $1.00 vs $0.94 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +14%
  2. +55%
  3. +1.8%
  4. +6.4%
Operating marginContracting
19.9%
-5.8 pp YoY

Business Quality

8.6 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say cheap; own history is the dissenting view.
Mueller Industries, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.

Company Research

Thesis
MLI is a diversified metal-products manufacturer with a meaningful electrical-products business through Nehring Electrical Works and related operations, supplying bare and insulated copper and aluminum wire, underground power cable, ground rod, aluminum-clad steel, copper-clad steel, building wire, and medium-voltage cable to utility, municipal, telecommunications, electrical-distribution, and OEM customers.
Opportunity
High opportunity
Utility and large-load interconnection spending requires additional medium-voltage cable, conductors, grounding, distribution hardware, and related electrical capacity components; supply availability and qualified domestic manufacturing can constrain the pace of grid expansion.
Key risk
Exposure to cyclical construction and infrastructure spending.

Economic classification

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Business & Markets

Industrials · Metal Fabrication
What they do

Mueller Industries, Inc. manufactures and sells copper, brass, and aluminum metal products through three segments: Piping Systems, Industrial Metals, and Climate, operating across multiple international markets.

How it earns

The company generates revenue primarily through transactional sales of metal products and related components to wholesalers, distributors, and OEM customers.

Products & services
Copper tubes and fittings
Brass and plastic plumbing valves
Bare and insulated copper and aluminum wire
Underground power cable
Ground rods
Medium-voltage cable
Customers & end markets
Wholesalers in plumbing and refrigeration
Distributors to manufactured housing and recreational vehicle markets
Utilities and municipalities
Telecommunications companies
Electrical distribution and OEM customers
Market position

Diversified metal-products manufacturer with a meaningful electrical-products business serving multiple industrial and utility markets.

Demand drivers
Medium cyclicality

Business is influenced by construction and infrastructure spending cycles as well as utility capital expenditures.