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Mueller Industries MLI Piping Systems — Goodwill, Gross

Other segment segments

Industrial Metals
$154.99M0.0%
Climate
$21.65M0.0%

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Other financials

Income statement

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Revenue$1.4B+25.5%
Gross profit$395.3M+12.0%
Operating income$310.0M+1.9%
Net income$249.7M+1.5%
EPS (diluted)$1.13+1.8%

Balance sheet

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Cash & equivalents$1.4B+38.1%
Total debt$24.7M-20.2%
Total equity$3.5B+21.6%
Total assets$4.3B+22.1%

Cash flow

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Operating cash flow$212.3M+11.4%
CapEx$21.6M+52.9%
Free cash flow$190.7M+8.0%

Valuation

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Market cap$15.32B+58.5%
Enterprise value$13.95B+60.5%
P/E18×+4.4×
P/S3.3×+0.9×

Profitability

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Gross margin28.8%+0.3pp
Operating margin23%+1.1pp
Net margin18.2%+0.8pp
FCF margin14.3%-0.2pp

Returns & leverage

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Return on equity26.3%+0.3pp
Debt / equity0.0×
Current ratio4.8×-0.1×

Where this comes from

Reported directly by Mueller Industries in its filing.

Tagged under the XBRL concept us-gaap:GoodwillGross.

The source filing: Mueller Industries’s 10-K, filed February 25, 2026.

Filed
Feb 25, 2026, 4:44 PM EST
Fiscal year
FY2025
Accession
0000089439-26-000008
(In thousands)Piping SystemsIndustrial MetalsClimateTotal
Reductions (2)(14,449)(14,449)
Currency translation1,4721,472
Balance at December 27, 2025:
Goodwill173,037154,99121,652349,680
Accumulated impairment charges(40,552)(8,853)(2,087)(51,492)
Goodwill, net$132,485$146,138$19,565$298,188
(1) Includes acquisitions of Nehring and Elkhart businesses.
(2) Includes finalization of the purchase price allocation adjustment for Elkhart of $14.4 million.

ITEM 16. Form 10-K Summary

FAQ

What is Mueller Industries's piping systems — goodwill, gross?
Mueller Industries (MLI) reported piping systems — goodwill, gross of $173.04M in Q4 2025.
How has Mueller Industries's piping systems — goodwill, gross changed year-over-year?
Mueller Industries's piping systems — goodwill, gross decreased by 7.0% year-over-year, from $186.01M to $173.04M.
What does piping systems — goodwill, gross mean?
This represents the total acquisition premium paid for businesses integrated into the Piping Systems segment, prior to any impairment charges. It reflects the historical cost of intangible value, such as brand reputation and customer relationships, acquired through M&A. It is a key indicator of the segment's historical inorganic growth strategy.

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