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Mueller Industries cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$315M in Q3 2026 · $690M over twelve months

Operating cash flow$337M
Capital spending−$22.0M
Free cash flow+$315M
Cash / net income1.5×
Cash conversion cycle75 days

Analysis

In Q3 2026, Mueller Industries generated $337M of operating cash flow and spent $22.0M on capital projects, leaving free cash flow of $315M.

Over the twelve months to Sep 26, 2026, operating cash flow was $770M; the largest uses were buybacks ($278M), dividends ($141M), acquisitions ($136M); besides operations, cash came from other investing ($83.2M), asset & business sales ($92K); the cash balance rose by $187M.

Operating cash flow was $337M against net income of $224M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: other liabilities +$51.9M, receivables +$38.6M, depreciation & amortization +$21.2M.

Its cash conversion cycle was 75 days (receivables 48 + inventory 53 − payables 26).

Free cash flow

Mueller Industries: free cash flow by quarterMueller Industries: free cash flow by quarter$111MQ4 2024$97.0MQ1 2025$177MQ2 2025$292MQ3 2025$121MQ4 2025$62.5MQ1 2026$191MQ2 2026$315MQ3 2026
Operating cash flow less capital spending.
Mueller Industries: operating cash flow against capital spendingMueller Industries: operating cash flow against capital spendingOperating cash flowCapital spending$140M$28.9MQ4 2024$114M$16.6MQ1 2025$191M$14.1MQ2 2025$310M$18.3MQ3 2025$141M$19.8MQ4 2025$79.7M$17.2MQ1 2026$212M$21.6MQ2 2026$337M$22.0MQ3 2026
Latest (Q3 2026): Operating cash flow $337M, Capital spending $22.0M.

Capital allocation, year by year

Mueller Industries: where the cash came from (up) and went (down), by fiscal yearMueller Industries: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $312MFY2021: Net borrowing −$326MFY2021: Asset sales $84.2MFY2021: Capital spending −$31.8MFY2021: Acquisitions −$30.2MFY2021: Buybacks −$4.9MFY2021: Dividends −$29.1M$396MFY2021FY2022: Operating cash flow $724MFY2022: Net borrowing −$204KFY2022: Asset sales $7.8MFY2022: Capital spending −$37.6MFY2022: Buybacks −$38.1MFY2022: Dividends −$55.8M$732MFY2022FY2023: Operating cash flow $673MFY2023: Net borrowing −$241KFY2023: Asset sales $279KFY2023: Capital spending −$54.0MFY2023: Buybacks −$19.3MFY2023: Dividends −$66.9M$673MFY2023FY2024: Operating cash flow $646MFY2024: Net borrowing −$222KFY2024: Asset sales $12.0MFY2024: Capital spending −$80.2MFY2024: Acquisitions −$603MFY2024: Buybacks −$48.7MFY2024: Dividends −$89.1M$658MFY2024FY2025: Operating cash flow $755MFY2025: Net borrowing −$185KFY2025: Asset sales $38.5MFY2025: Capital spending −$68.8MFY2025: Buybacks −$244MFY2025: Dividends −$109M$794MFY2025
Over these 5 years operating cash flow totalled $3.1B; the largest uses were acquisitions ($633M) and buybacks ($355M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.5B
Debt$5.2M
Net cash$1.5B

Mueller Industries funds itself: free cash flow was $690M over the last twelve months, and $1.5B of cash and investments stands against $5.2M of debt.

Where the cash came from and went

Mueller Industries: sources (+) and uses (−) of cash, Q3 2026Mueller Industries: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$337MBuybacks−$202MCash drawn (+) / kept (−)−$59.3MDividends−$37.8MOther financing−$24.4MCapital spending−$22.0MOther investing$4.4MAcquisitions$2.5MExchange rates$1.5MPartners−$95K
Mueller Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Mueller Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$770MBuybacks−$278MCash drawn (+) / kept (−)−$187MDividends−$141MAcquisitions−$136MOther investing$83.2MCapital spending−$80.6MOther financing−$21.8MPartners−$5.1MExchange rates−$3.7MAsset & business sales$92K

From profit to cash

Mueller Industries: net income to operating cash flow, Q3 2026Mueller Industries: net income to operating cash flow, Q3 2026Net income$224MDepreciation & amortization$21.2MStock-based pay$7.5MDeferred taxes$14.2MGains on investments−$5.9MReceivables$38.6MInventory−$6.8MPrepaid and other assets$2.5MOther liabilities$51.9MOther operating capital−$4.6MOperating cash flow$337M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202648532675
Q2 202646512473
Q1 202644582378
Q4 202549652390
Q3 202549632587
Q2 202546582578
Q1 202546592580
Q4 202447592481

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$337M−$22.0M$2.5M−$202M−$37.8M—−$59.3M$315M
Q2 2026$212M−$21.6M—−$1.5M−$38.1M—−$3.9M$191M
Q1 2026$79.7M−$17.2M—−$75.0M−$38.0M—−$1.6M$62.5M
Q4 2025$141M−$19.8M——−$27.3M—−$122M$121M
Q3 2025$310M−$18.3M——−$27.3M−$74K−$256M$292M
Q2 2025$191M−$14.1M——−$27.1M−$55K−$165M$177M
Q1 2025$114M−$16.6M—−$244M−$27.3M−$56K$197M$97.0M
Q4 2024$140M−$28.9M——−$22.3M−$55K−$73.3M$111M

Mueller Industries: income statement and cash flow

Mueller Industries, Q3 2026: revenue $1.4B (+32% year over year), operating margin 19.8%. The chart follows the revenue to costs, profit and cash.

Mueller Industries: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.