ʻO Mueller Industries Inc. (NYSE: MLI) he hui hana hana kila nui. Ke hana nei ka hui ma kahi mākeke ʻaʻole e loaʻa ka waiwai nui a i ʻole nā ​​​​manaʻo ulu, a nui ka poʻe e ʻike ʻole ia. Akā, loaʻa iā lākou ke kālā a loaʻa iā lākou kahi ʻoihana wānana a paʻa. ʻO kēia nā hui aʻu i makemake ai, a hiki iā ʻoe ke maopopo ʻaʻole e nānā kekahi mau mea hoʻopukapuka i kēia kihi o ka mākeke. Ua paʻakikī ka ʻoihana e uku i ka ʻaiʻē, ʻaʻohe o lākou ʻaiʻē a loaʻa iā lākou kahi laina ʻaiʻē $400 miliona, e maʻalahi loa lākou inā e kū mai nā pahuhopu a hiki ke neʻe koke ka hui. ʻOiai me ka loaʻa ʻole o ka loaʻa ʻana e hoʻomaka i ka ulu ʻana, loaʻa i ka ʻoihana ke kahe kālā manuahi a ke ulu nei no nā makahiki he nui, kahi ʻano e ʻike ʻia e hoʻomau i ka wā e hiki mai ana. ʻAʻole mahalo ka mākeke i ka ʻoihana, a ʻo ka ulu ʻana o ka loaʻa kālā a me ka loaʻa kālā i nā makahiki i hala iho nei e ʻike ʻia.
"Hana a kūʻai aku ʻo Mueller Industries, Inc. i ke keleawe, keleawe, aluminika a me nā huahana plastik ma US, UK, Kanada, Korea, Middle East, Kina a me Mexico. Hana ka hui i ʻekolu mau ʻāpana: ʻōnaehana paipu, metala ʻoihana a me ke aniau. Piping Systems Hāʻawi ka ʻāpana i nā paipu keleawe, nā mea pono, nā paipu paipu a me nā mea pono, nā paipu PEX a me nā paipu paipu pili a me nā ʻōnaehana hoʻoheheʻe paipu. ʻO kēia māhele e kūʻai aku i kāna mau huahana i nā mea kūʻai nui i ka paipu a me ka pahu hau, nā mea kūʻai hale a me nā mea leʻaleʻa, nā mea kūʻai hale a me nā mea hana ea ea (OEM) keleawe a me ka alumini; nā mea hoʻololi a me nā paipu i hoʻopili ʻia no ka HVAC, geothermal, refrigeration, ʻauʻau wai ʻauʻau pumps, ka hana ʻana i ka moku, nā mea hana hau, nā ʻoihana hoʻolaʻa ʻana i ka wela a me nā ʻōnaehana HVAC i hoʻopaʻa ʻia.
Ma 2021, e hōʻike ʻo Mueller Industries i $ 3.8 biliona i ka loaʻa kālā makahiki, $ 468.5 miliona i ka loaʻa kālā, a me $ 8.25 i ka loaʻa kālā i hoʻokaʻawale ʻia. Ua hōʻike pū ka hui i ka loaʻa kālā no ka hapaha mua a me ka lua o 2022. No ka hapa mua o 2022, ua hōʻike ka hui i ka loaʻa kālā o $ 2.16 biliona, ka loaʻa kālā o $ 364 miliona a me ka loaʻa kālā i hoʻokaʻawale ʻia i kēlā me kēia mahele o $ 6.43. Uku ka hui i ka mahele o keia manawa he $1.00 no ka mahele, a i ole he 1.48% ka hua ma ke kumu kuai o keia manawa.
He maikaʻi nā manaʻolana no ka hoʻomohala hou ʻana o ka ʻoihana. ʻO ke kūkulu hale hou a me ka hoʻomohala ʻana i nā ʻoihana he mau mea koʻikoʻi e hoʻoikaika a kōkua i ka hoʻoholo ʻana i ke kūʻai ʻana o kahi ʻoihana, no ka mea, ʻo kēia mau wahi ka nui o ka noi no nā huahana o ka hui. Wahi a ka US Census Bureau, ʻo ka helu maoli o nā hale hou i ka US he 1.6 miliona ma 2021, mai ka 1.38 miliona ma 2020. Eia kekahi, ʻoi aku ka nui o nā hale noho ʻole ma 467.9 biliona ma 2021, 479 biliona ma 2020 a me 500.1 biliona i manaʻoʻiʻo ʻia i kēia mau ʻoihana. e pōmaikaʻi kā lākou ʻoihana a me kā lākou hana kālā mai kēia mau kumu a paʻa mau. . Ua wānana ʻia ma 2022 a me 2023 ka nui o nā hale noho ʻole e ulu e 5.4% a me 6.1%, kēlā me kēia. E kōkua kēia hiʻohiʻona koi iā Mueller Industries, Inc. e mālama i nā kiʻekiʻe o ka ulu a me nā hana.
ʻO nā kumu pilikia e hiki ke hoʻopilikia i ka ʻoihana, ʻo ia nā kūlana hoʻokele waiwai e pili ana i ka hoʻomohala ʻana i nā hale noho a me nā ʻoihana. ʻIke paʻa nā mākeke kūkulu hale i kēia manawa a ke hana maikaʻi nei i nā makahiki i hala iho nei, akā hiki i ka pōʻino o kēia mau mākeke i ka wā e hiki mai ana ka hopena nui i ka ʻoihana o ka hui.
ʻO ke kumukūʻai mākeke o kēia manawa ʻo Mueller Industries Inc. he $3.8 biliona a loaʻa iā ia ka lakio kumu kūʻai (P/E) o 5.80. ʻOi aku ka haʻahaʻa o kēia kumukūʻai-i-loaʻa ma mua o ka hapa nui o nā mea hoʻokūkū o Mueller. Ke kūʻai aku nei nā hui kila ʻē aʻe i nā ratio P / E ma kahi o 20. Ma ke kumu kumukūʻai, ke nānā aku nei ka ʻoihana i nā mea liʻiliʻi e hoʻohālikelike ʻia i kona mau hoa. Ma muli o ke kūlana o ka hana i kēia manawa, ʻike ʻia ka ʻoihana i ka undervalued. Ke noʻonoʻo nei i ka ulu ʻana o ka loaʻa kālā a me ka loaʻa kālā o ka ʻoihana, ʻike ʻia kēia me kahi waiwai maikaʻi loa me kahi waiwai ʻike ʻole ʻia.
Ke uku nei ka ʻoihana i ka ʻaiʻē i nā makahiki i hala iho nei a ʻaʻole ʻaiʻē ka hui. He mea maikaʻi loa kēia no ka hui, no ka mea, ʻaʻole ia e kaupalena i ka loaʻa kālā o ka ʻoihana a hoʻololi iā lākou. Ua hoʻopau ka hui i ka lua o ka hapaha me $ 202 miliona i ke kālā a loaʻa iā lākou kahi $ 400 miliona i hoʻohana ʻole ʻia e hoʻohana ʻia e kiʻi ai inā koi ʻia nā hana a i ʻole nā ​​​​manawa kūʻai hoʻolālā.
ʻIke ʻia ʻo Mueller Industries he ʻoihana maikaʻi a me ka waiwai nui. Ua kūpaʻa ka ʻoihana i ka wā kahiko a ʻike i ka ulu ʻana o ka noi pahū ma 2021 e hoʻomau ʻia a hiki i 2022. Nui ka waihona o nā kauoha, ke hana maikaʻi nei ka ʻoihana. Ke kālepa nei ka ʻoihana ma kahi kumukūʻai haʻahaʻa haʻahaʻa, ʻike nui ʻia ka undervalued i hoʻohālikelike ʻia i kāna mau mea hoʻokūkū a ma ka laulā. Inā loaʻa i ka hui ka lakene P/E maʻamau o 10-15, a laila ʻoi aku ka nui o ke kumukūʻai ma mua o ka pālua mai nā pae o kēia manawa. Ke nānā aku nei ka hui no ka ulu hou aʻe, ʻo ia ka mea e ʻoi aku ka maikaʻi o ka undervaluation o kēia manawa, ʻoiai inā ʻaʻole ulu nui kā lākou ʻoihana, inā paʻa mau, ua mākaukau ka ʻoihana no nā mea āpau a ka mākeke e hāʻawi aku iā lākou mai ka papa.
Hōʻike: ʻAʻole wau / mākou e paʻa i nā waihona, nā koho a i ʻole nā ​​​​mea like ʻole i kekahi o nā hui i helu ʻia ma luna, akā hiki iā mākou ke komo i kahi kūlana lōʻihi maikaʻi ma ke kūʻai ʻana i nā kelepona a i ʻole nā ​​​​mea like ʻole i ka MLI i loko o nā hola 72 e hiki mai ana. Naʻu i kākau i kēia ʻatikala a hōʻike i koʻu manaʻo ponoʻī. ʻAʻole i loaʻa iaʻu kekahi uku (ma waho o ka ʻimi ʻana iā Alpha). ʻAʻohe oʻu pilina ʻoihana me kekahi o nā hui i helu ʻia ma kēia ʻatikala.