MUELLER INDUSTRIES INC (MLI) intrinsic value & 10-year financials
MUELLER INDUSTRIES INC (MLI) has a Graham intrinsic value of $227.86 per share. At $54.37 on Oct 27, 2026, the stock trades 76% below that value. Over the last 10 fiscal years revenue grew 8.2% a year to $4.2B, with an average return on invested capital of 29.4%.
- Graham intrinsic value
- $227.86
- Share price (Oct 27, 2026)
- $54.37
- Price vs Graham value
- 76% below
- Market cap
- $6.1B
- Revenue (FY2025)
- $4.2B
- Revenue growth (10-yr CAGR)
- 8.2%
- ROIC (10-yr avg)
- 29.4%
- Free cash flow (FY2025)
- $686.6M
MLI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.2B | $765.2M | $6.86 | $686.6M | 22.9% | 40.0% |
| FY2024 | $3.8B | $604.9M | $5.31 | $565.7M | 20.4% | 38.9% |
| FY2023 | $3.4B | $602.9M | $5.30 | $618.7M | 22.1% | 43.5% |
| FY2022 | $4.0B | $658.3M | $5.82 | $686.3M | 22.0% | 52.4% |
| FY2021 | $3.8B | $468.5M | $4.12 | $279.9M | 17.4% | 44.8% |
| FY2020 | $2.4B | $139.5M | $1.24 | $201.2M | 10.3% | 17.9% |
| FY2019 | $2.4B | $101.0M | $0.90 | $169.4M | 7.9% | 14.8% |
| FY2018 | $2.5B | $104.5M | $0.91 | $129.4M | 6.9% | 14.7% |
| FY2017 | $2.3B | $85.6M | $0.74 | -$2.1M | 6.7% | 13.1% |
| FY2016 | $2.1B | $99.7M | $0.87 | $120.3M | 7.4% | 13.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MUELLER INDUSTRIES INC is a consistent compounder, expanding top-line revenue at 8.2% annually over the past decade.
MUELLER INDUSTRIES INC has earned high returns on invested capital, averaging 29.4% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
MUELLER INDUSTRIES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MUELLER INDUSTRIES INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $227.86 per share.