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Howmet Aerospace vs Mueller Industries: HWM and MLI compared
Howmet Aerospace is the larger company: $2.7B of revenue in its latest quarter (Q3 2026) against $1.4B for Mueller Industries (Q3 2026). Mueller Industries is growing faster (+32% against +29% a year earlier). Howmet Aerospace is more profitable, with an operating margin of 28.7% against 19.8%.
Where the money goes: HWM and MLI
Howmet Aerospace (HWM) · Q3 2026
Howmet Aerospace, Q3 2026: revenue $2.7B (+29% year over year), operating margin 28.7%, net earnings $567M, operating cash flow $709M. The chart follows the revenue to costs, profit and cash.
Mueller Industries (MLI) · Q3 2026
Mueller Industries, Q3 2026: revenue $1.4B (+32% year over year), operating margin 19.8%, net earnings $221M, operating cash flow $337M. The chart follows the revenue to costs, profit and cash.
| Howmet Aerospace (HWM) | Mueller Industries (MLI) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.7B | $1.4B |
| Revenue growth, Y/Y | +29% | +32% |
| Operating margin | 28.7% | 19.8% |
| Net earnings | $567M | $221M |
| Net margin | 21.0% | 15.6% |
| Operating cash flow | $709M | $337M |
| Free cash flow | $562M | $315M |
| Market value | $82.6B | $11.7B |
| P/E | 40.4× | 7.8× |
| Analysts’ mean target | $296.29 | $78.00 |
Where the revenue comes from
Howmet Aerospace
- Aerospace - Commercial: $1.5B (54%)
- Aerospace - Defense: $391M (14%)
- Commercial Transportation: $384M (14%)
- Gas Turbines: $349M (13%)
Mueller Industries
- Piping Systems: $876M (62%)
- Industrial Metals: $403M (28%)
- Climate: $140M (10%)
Questions
Which is bigger, Howmet Aerospace or Mueller Industries?
Howmet Aerospace is the larger company: $2.7B of revenue in its latest quarter (Q3 2026) against $1.4B for Mueller Industries (Q3 2026).
Is Howmet Aerospace or Mueller Industries growing faster?
Mueller Industries is growing faster (+32% against +29% a year earlier).
Which is more profitable, Howmet Aerospace or Mueller Industries?
Howmet Aerospace is more profitable, with an operating margin of 28.7% against 19.8%.
More: Howmet Aerospace earnings · how Howmet Aerospace makes money · Mueller Industries earnings · how Mueller Industries makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 21, 2026). Fiscal quarters can end on different dates. Not investment advice.