Mueller Industries (MLI) Investor presentation summary

Investment highlights

• Diversified product portfolio serving critical end markets with strong secular tailwinds.

• Global operator with regional manufacturing and market leadership.

• Profitable across economic cycles with strong operating margins and cash flow.

• High-quality balance sheet and experienced leadership team.

• Successful growth through acquisitions and disciplined capital deployment.

Financial and operational performance

• 2025 revenue reached $4.2B with $1.0B EBITDA and a 90% FCF conversion ratio.

• Net cash position of $1.4B and 22% return on average invested capital.

• Total shareholder return CAGR of 19.8% from 2010 to 2025.

• Price-to-earnings multiple of 17.2x as of December 2025.

Market position and segments

• Holds #1 or #2 position in core products and key markets.

• Vertically integrated with global sales and distribution network.

• Three segments: Piping Systems (28.5% margin), Industrial Metals (10.3%), and Climate (31.0%).