Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Mueller Industries, Inc. (MLI) Halal?

PASS

Mueller Industries, Inc. · NYSE: MLI · Industrials

The short answer

Mueller Industries passes all three Shariah gates: it manufactures copper, brass, and aluminum products (no interest-based business), carries about $5.2M of interest-bearing debt (0.04% of its ~$13.41 billion market cap), and interest income of about 0.98% of revenue is under the 5% ceiling.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Mueller Industries, Inc., per its FY2025 Form 10-K (fiscal year ended December 27, 2025, filed February 2026), describes itself as 'a leading manufacturer of copper, brass, and aluminum products.' Products include copper tube and fittings, line sets, steel nipples, brass rod, bar and shapes, aluminum and brass forgings, aluminum impact extrusions, refrigeration and compressed-gas valves, pressure vessels, insulated flexible duct, and wire and cable, plus resale of plumbing valves, fittings, and faucets.

The company reports three segments — Piping Systems, Industrial Metals, and Climate — serving HVAC, refrigeration, plumbing, construction, transportation, automotive, and industrial end markets. It is not an interest-based lender and is not involved in tobacco, gambling, pork, or conventional banking or insurance. For transparency, the 10-K notes the Impacts and Micro Gauge unit sells cold-formed metal components to OEMs serving automotive, military ordnance, aerospace, and general manufacturing industries — a customer end-market, not a weapons business, with no revenue breakout disclosed. The business passes gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (0.04%, ceiling 33%). Per Mueller Industries' Q2 2026 condensed consolidated balance sheet (June 27, 2026), long-term debt, less current portion, was $5,243 thousand, with no short-term borrowings or current-maturities line on the balance sheet. The FY2025 Form 10-K reports total debt of zero at December 27, 2025 — the Chairman's letter states 'record $1.4 billion in cash on hand and zero debt.' Operating lease liabilities ($7,589 thousand current plus $11,852 thousand noncurrent) are excluded — they are not interest-bearing debt.

$5.2 million of interest-bearing debt against a market capitalization of about $13.41 billion (WallStreetZen, October 1, 2026; Finnhub quoted $61.32 per share on October 2, 2026, implying about $13.56 billion) is about 0.04%, far under the 33% ceiling. Cash and cash equivalents of $1,388,748 thousand plus short-term investments of $27,241 thousand at June 27, 2026 represent about 10.6% of market cap.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (0.98%, ceiling 5%). Mueller Industries' FY2025 Form 10-K separately discloses interest income on its Consolidated Statements of Income (F-15): $41,068 thousand of interest income against net sales of $4,178,547 thousand is about 0.98% — under the 5% ceiling (interest expense was only $108 thousand).

The Q2 2026 condensed income statement also breaks out interest income separately: $10,978 thousand for the quarter ended June 27, 2026 against net sales of $1,427,923 thousand (0.77%), and $22,848 thousand for the six months against $2,620,928 thousand (0.87%). The most recent annual figure (0.98%) is used for this gate.

Key figures used

Frequently asked questions

What does Mueller Industries do?

Mueller Industries, Inc. (NYSE: MLI) is a US manufacturer of copper, brass, and aluminum products. Per its FY2025 Form 10-K (fiscal year ended December 27, 2025), its products include copper tube and fittings, line sets, steel nipples, brass rod, bar and shapes, aluminum and brass forgings, aluminum impact extrusions, refrigeration and compressed-gas valves, pressure vessels, insulated flexible duct, and wire and cable, plus resale of plumbing valves, fittings, and faucets. It reports three segments: Piping Systems, Industrial Metals, and Climate, serving HVAC, refrigeration, plumbing, construction, transportation, automotive, and industrial end markets.

Is Mueller Industries' business Shariah compliant?

Mueller Industries manufactures metal products - copper, brass, and aluminum goods for piping, industrial, and climate-control markets - and is not an interest-based lender. It is not involved in tobacco, gambling, pork, or conventional banking or insurance. For transparency: its Impacts and Micro Gauge unit sells cold-formed metal components to OEM customers serving the automotive, military ordnance, aerospace, and general manufacturing industries - this is a customer end-market for metal components, not a weapons business, and the 10-K gives no revenue breakout for it. Assessed on the filed numbers, the business passes this screener's first gate.

How much interest-bearing debt does Mueller Industries have?

Mueller Industries carries essentially no interest-bearing debt. Its FY2025 Form 10-K reports total debt of zero at December 27, 2025 - the Chairman's letter states 'record $1.4 billion in cash on hand and zero debt.' Its Q2 2026 condensed balance sheet (June 27, 2026) shows long-term debt, less current portion, of $5,243 thousand, with no short-term borrowings or current-maturities line. Operating lease liabilities ($7,589 thousand current plus $11,852 thousand noncurrent) are excluded as they are not interest-bearing debt. $5.2 million against a market capitalization of about $13.41 billion is about 0.04%, far under the 33% ceiling.

How much interest income does Mueller Industries earn?

Mueller Industries' FY2025 Form 10-K separately discloses interest income on its Consolidated Statements of Income (F-15): interest income of $41,068 thousand against net sales of $4,178,547 thousand is about 0.98% - under the 5% non-compliant income ceiling. Interest expense was only $108 thousand. Its Q2 2026 condensed income statement also breaks out interest income separately: $10,978 thousand for the quarter and $22,848 thousand for the six months ended June 27, 2026, both under 1% of net sales.

What do third-party Shariah screeners say about Mueller Industries?

Zoya publishes an MLI page citing FY2025 figures ($41,068 thousand interest income against $4,178,547 thousand revenue, about 0.98%) under its AAOIFI methodology, but the compliance rating on the page did not render in a text fetch, so its current rating could not be verified from public sources. I could not verify a Musaffa rating page for MLI or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).