I-Mueller Industries Inc. (NYSE: MLI) yinkampani enkulu yokukhiqiza izakhiwo zensimbi. Le nkampani isebenza emakethe engakhiqizi inzuzo enkulu noma imibono yokukhula, futhi abaningi bangakuthola kuyisicefe. Kodwa benza imali futhi banebhizinisi elibikezelayo nelizinzile. Lezi yizinkampani engizithandayo, futhi ungaqiniseka ukuthi abanye abatshalizimali abanaki leli khoneni lemakethe. Le nkampani yazabalaza ukukhokha isikweletu, manje ayinaso isikweletu futhi inomugqa wesikweletu ophelele ongamaRandi ayizigidi ezingama-400, okwenza kube lula kakhulu uma kuvela imigomo yokuthenga futhi inkampani ingahamba ngokushesha. Ngisho nangaphandle kokuthengwa kokuqala ukukhula, inkampani inokuhamba kwemali okukhulu kwamahhala futhi ibilokhu ikhula iminyaka eminingi, umkhuba obonakala uzoqhubeka esikhathini esizayo. Imakethe ayibonakali iyazisa inkampani, futhi ukukhula kwemali engenayo kanye nenzuzo eminyakeni yamuva kubonakala kwembula kakhulu.
“I-Mueller Industries, Inc. ikhiqiza futhi ithengisa imikhiqizo yethusi, ithusi, i-aluminium kanye nepulasitiki e-US, e-UK, eCanada, eKorea, eMpumalanga Ephakathi, eShayina naseMexico. Le nkampani isebenza ngezigaba ezintathu: izinhlelo zamapayipi, izinsimbi zezimboni kanye nesimo sezulu. Izinhlelo Zokuphamba Le ngxenye inikeza amapayipi ethusi, izinto zokufaka, amakhithi okufaka amapayipi kanye nezinto zokufaka, amapayipi e-PEX kanye nezinhlelo ezikhanyayo, kanye nezinto zokufaka amapayipi kanye namathuluzi okubumba injection epulasitiki kanye nokunikezwa kwamapayipi okufaka amapayipi. Le ngxenye ithengisa imikhiqizo yayo kubathengisi abathengisa ngobuningi emakethe amapayipi kanye neziqandisi, abasabalalisi bezimoto zasekhaya nezokuzilibazisa, abathengisi bezinto zokwakha kanye nabakhiqizi bemishini yokupholisa umoya yokuqala (ama-OEM). Isigaba Sezinsimbi Zezimboni sikhiqiza izinduku zethusi, ithusi kanye nethusi, ithusi lamapayipi, amavalvu kanye nezinto zokufaka; imikhiqizo ye-aluminium kanye nethusi eyakhiwe ngokubandayo; ukucubungula i-aluminium i, insimbi, ithusi kanye nensimbi ephonswe nge ... izimakethe. Izesekeli; Izingxenye ze-High Voltage kanye nezesekeli zezimakethe zomoya opholile kanye neziqandisi; ama-coaxial heat exchangers namashubhu ahlanganisiwe e-HVAC, i-geothermal, i-friji, amaphampu okushisa echibini lokubhukuda, ukwakha imikhumbi, abenzi beqhwa, ama-boiler ezentengiselwano kanye nezimakethe zokubuyisa ukushisa; izinhlelo ze-HVAC eziguquguqukayo ezivikelwe; ama-manifold ane-brazed, ama-manifold kanye nezinhlangano zabasabalalisi. Le nkampani yasungulwa ngo-1917 futhi inendlunkulu yayo eCollierville, eTennessee.
Ngo-2021, iMueller Industries izobika imali engenayo yonyaka engu-$3.8 billion, imali engenayo engu-$468.5 million, kanye nemali engenayo encishisiwe engu-$8.25 ngesabelo ngasinye. Le nkampani iphinde yabika imali engenayo yekota yokuqala neyesibili ka-2022. Engxenyeni yokuqala ka-2022, inkampani yabika imali engenayo engu-$2.16 billion, imali engenayo engu-$364 million kanye nemali engenayo encishisiwe ngesabelo ngasinye engu-$6.43. Le nkampani ikhokha i-dividend yamanje engu-$1.00 ngesabelo ngasinye, noma isivuno esingu-1.48% entengo yamanje yesabelo.
Amathemba okuthuthuka okuqhubekayo kwenkampani mahle. Ukwakhiwa kwezindlu ezintsha kanye nentuthuko yezentengiselwano yizinto ezibalulekile ezithonya futhi ezisiza ekunqumeni ukuthengiswa kwenkampani, njengoba lezi zindawo zibangela iningi lesidingo semikhiqizo yenkampani. Ngokusho kwe-US Census Bureau, inani langempela lezindlu ezintsha e-US lizoba yizigidi ezingu-1.6 ngo-2021, lisuka ku-1.38 million ngo-2020. Ngaphezu kwalokho, izakhiwo ezizimele ezingezona ezokuhlala zalinganiselwa ku-467.9 billion ngo-2021, 479 billion ngo-2020 kanye no-500.1 billion ngo-2019. Isidingo kulezi zindawo kulindeleke ukuthi sihlale siqinile futhi izinkampani zikholelwa ukuthi ukusebenza kwebhizinisi lazo kanye nezezimali kuzozuza kulezi zici futhi zihlale zizinzile. . Kubikezelwa ukuthi ngo-2022 nango-2023 inani lezakhiwo ezingezona ezokuhlala lizokhula ngo-5.4% kanye no-6.1%, ngokulandelana. Lo mbono wesidingo uzosiza iMueller Industries, Inc. ukuthi igcine amazinga aphezulu okukhula kanye nokusebenza.
Izinto ezingaba yingozi ezingathinta ibhizinisi yizimo zomnotho ezihambisana nentuthuko yezindawo zokuhlala nezentengiselwano. Izimakethe zokwakha okwamanje zibukeka zizinzile futhi bezilokhu zisebenza kahle eminyakeni embalwa edlule, kodwa ukuwohloka kwalezi zimakethe esikhathini esizayo kungaba nomthelela omkhulu ebhizinisini lenkampani.
Imali yemakethe yamanje yeMueller Industries Inc. ingu-$3.8 billion futhi inesilinganiso sentengo-kuya-inzuzo (P/E) esingu-5.80. Lesi silinganiso sentengo-kuya-inzuzo empeleni siphansi kakhulu kuneningi labancintisana noMueller. Ezinye izinkampani zensimbi okwamanje zihweba ngezilinganiso ze-P/E ezingaba ngu-20. Ngokwesisekelo sentengo-kuya-inzuzo, inkampani ibukeka ishibhile uma iqhathaniswa nontanga bayo. Ngokusekelwe esimweni samanje sokusebenza, inkampani ibukeka ingabalulekile. Uma kucatshangelwa ukukhula kwemali engenayo yenkampani kanye nemali engenayo engenayo, lokhu kubonakala njengesitoko esikhangayo kakhulu esinenani elingaziwa.
Le nkampani ibilokhu ikhokhela izikweletu ngamandla eminyakeni embalwa edlule futhi manje inkampani ayinazo izikweletu. Lokhu kuhle kakhulu enkampanini, ngoba manje akunciphisi inzuzo yenkampani futhi kuyenza iguquguquke kakhulu. Le nkampani iqede ikota yesibili ngemali engu-$202 million futhi inesikhungo sesikweletu esingasetshenziswanga esingu-$400 million esitholakalayo ukuze sisetshenziswe uma kudingeka imisebenzi noma kuvela amathuba okuthola amasu.
I-Mueller Industries ibukeka njengenkampani enhle kakhulu kanye nesitoko esihle kakhulu. Le nkampani ibilokhu izinzile ngokomlando futhi ibhekene nokukhula kwesidingo okukhulu ngo-2021 okuzoqhubeka kuze kube ngu-2022. Iphothifoliyo yama-oda inkulu, inkampani yenza kahle. Le nkampani ihweba ngesilinganiso sentengo ephansi kuya kwenzuzo, ibukeka ingaphansi kakhulu kwenani uma iqhathaniswa nezimbangi zayo futhi ngokujwayelekile. Uma inkampani ibinesilinganiso se-P/E esijwayelekile esingu-10-15, khona-ke isitoko besizophindeka kabili kunezinga lamanje. Le nkampani ibukeka ilungele ukukhula okwengeziwe, okwenza ukwehla kwenani lamanje kukhange kakhulu, noma ngabe ibhizinisi labo lingakhuli ngendlela emangalisayo, uma lihlala lizinzile, inkampani ilungiselele konke imakethe enakho ukuze ibanikeze kusukela eshalofini.
Ukudalulwa: Mina/thina asinamasheya, izinketho noma ama-derivative afanayo kunoma yiziphi izinkampani ezibalwe ngenhla, kodwa singangena esikhundleni esinenzuzo eside ngokuthenga amasheya noma ukuthenga izingcingo noma ama-derivative afanayo ku-MLI emahoreni angu-72 alandelayo. Ngibhale lesi sihloko mina futhi siveza umbono wami. Angikaze ngithole noma yisiphi isinxephezelo (ngaphandle kwe-Seeking Alpha). Anginabo ubudlelwano bebhizinisi nanoma yiziphi izinkampani ezibalwe kulesi sihloko.