Mueller Industries Inc filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $5.00 billion, which rose 20.8% on the year before. That growth rate was up 6.0 percentage points on the rate a quarter earlier.
Profitability
The trailing operating margin was 21.5%, down 1.6 percentage points from a year earlier. The trailing net margin was 17.3%. Net income over the twelve months was $863.6 million, which rose 15.3% on the year before.
Cash flow
Operating cash flow over the twelve months was $770.2 million, up 2.1% on the year before. Capital spending was $80.6 million, or 1.6% of revenue. Free cash flow, operating cash flow less capital spending, was $689.6 million, up 1.9% on the year before. Free cash flow was 13.8% of revenue (the free-cash-flow margin), down 2.6 percentage points from a year earlier.
Share count
The average diluted share count fell 1.5% over the year.
Against its own history
Today’s free-cash-flow margin of 13.8% is higher than 76% of the company’s own past quarterly readings, which have ranged from −1.4% to 20.4%. Today’s operating margin of 21.5% is higher than 81% of the company’s own past quarterly readings, which have ranged from 5.2% to 24.4%. Today’s twelve-month revenue growth rate of 20.8% is higher than 92% of the company’s own past quarterly readings, which have ranged from −16.4% to 57.2%.
What it means for value
In our model, growth 5 percentage points lower would lower the value by 22.7%, and 5 percentage points higher would raise it by 29.1%. A free-cash-flow margin 1 percentage point lower would lower it by 6.9%.
What to watch
The next filing will reveal whether the recent trajectory in revenue growth continues or moderates relative to the prior period. It will also clarify if the operating margin and free-cash-flow margin maintain their current levels or shift further from the year-ago figures. Additionally, the report will provide updated details on capital spending and its impact on the overall free cash flow generation.
