MUELLER INDUSTRIES INC

MLI · Industrials · $6.5B mkt cap · FY2025 filings · Narrow moat

Wonderful & reasonably priced

Narrow moat

The four filters

Pricing power24

Median gross margin 16.2% over 5y, stable.

Returns on capital100

Median ROIC 25.8%, above the 9% hurdle in 100% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline80

Owner earnings +25.4%/yr, share count n/a.

Margin of safety

Above valueOn sale

40% below value

Owner earnings (normalized): $604.9M
Est. intrinsic value / share: $97.93
Recent price: $58.87
Discount to value: 40% below value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MLI. See the disclaimer.