MLI vs. NOC: Mueller Industries vs. Northrop Grumman Stock Comparison

November 11, 2026

How do Mueller Industries (MLI) and Northrop Grumman (NOC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Mueller Industries (MLI) and Northrop Grumman (NOC) both fall under the Capital Goods industry group, but MLI is classified in Machinery while NOC is classified in Aerospace & Defense.

Company profile comparison for Mueller Industries (MLI) and Northrop Grumman (NOC)
Profile Item	MLI	NOC
Name	Mueller Industries, Inc.	Northrop Grumman Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Aerospace & Defense
GICS Sub-Industry	Industrial Machinery & Supplies & Components	Aerospace & Defense
Market Capitalization	11.54 billion USD	74.59 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	February 25, 1991	December 31, 1981
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

MLI

NOC

GSPC

Mueller Industries (MLI) vs. Northrop Grumman (NOC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Mueller Industries (MLI) and Northrop Grumman (NOC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Mueller Industries (MLI) and Northrop Grumman (NOC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
Total Return (1Y)	3.68%	-3.34%
Total Return (3Y, Annualized)	44.56%	7.23%
Total Return (5Y, Annualized)	32.39%	9.98%

Risk Profile

Drawdown History

MLI

NOC

GSPC

Mueller Industries (MLI) vs. Northrop Grumman (NOC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Mueller Industries (MLI) and Northrop Grumman (NOC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Northrop Grumman (NOC) reports a negative beta of -0.12, suggesting inverse market sensitivity over the measurement window. That is uncommon for ordinary equities and can reflect commodity-linked or hedge-like exposure, but it can also come from statistical noise. Mueller Industries (MLI) has a non-negative beta of 1.01.

Risk profile metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
Volatility (1Y, Annualized)	34.44%	28.86%
Beta (5Y)	1.01	-0.12
Max Drawdown (5Y)	-27.79%	-37.80%
Avg. Volume (3M)	1.61M	902.47K

Risk-Adjusted Performance

Risk-Return Positioning

MLI and NOC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
Sharpe Ratio (1Y)	-0.02	-0.26
Sortino Ratio (1Y)	-0.02	-0.37

Profitability

ROE (TTM)

Both Mueller Industries (MLI) at 26.26% and Northrop Grumman (NOC) at 26.07% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

MLI

Capital Goods industry group

26.26%

Max: 40.55%
MLI: 26.26%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

NOC

Capital Goods industry group

26.07%

Max: 40.55%
NOC: 26.07%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Mueller Industries (MLI) at 17.27% retains a top-quartile share of revenue as profit, ahead of Northrop Grumman (NOC) at 10.37%, which keeps about the industry-typical share.

MLI

Capital Goods industry group

17.27%

Max: 27.47%
MLI: 17.27%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

NOC

Capital Goods industry group

10.37%

Max: 27.47%
Q3: 12.10%
NOC: 10.37%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Mueller Industries (MLI) at 19.53% operates in the top operating margin quartile, ahead of Northrop Grumman (NOC) at 12.91%, which runs around its industry’s norm.

MLI

Capital Goods industry group

19.53%

Max: 36.60%
MLI: 19.53%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

NOC

Capital Goods industry group

12.91%

Max: 36.60%
Q3: 18.33%
NOC: 12.91%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
ROE (TTM)	26.26%	26.07%
ROA (TTM)	16.23%	7.11%
Net Margin (TTM)	17.27%	10.37%
Operating Margin (TTM)	19.53%	12.91%
Gross Margin (TTM)	27.25%	20.03%

Growth

Revenue Growth

Both Mueller Industries (MLI) at 10.87% and Northrop Grumman (NOC) at 2.24% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Mueller Industries (MLI) at 29.19% and Northrop Grumman (NOC) at 2.61% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
Revenue Growth (YoY)	10.87%	2.24%
Revenue Growth (3Y CAGR)	1.62%	4.65%
EPS Growth (YoY)	29.19%	2.61%
EPS Growth (3Y CAGR)	5.63%	-2.60%

Financial Strength

Current Ratio (MRQ)

Mueller Industries (MLI) at 4.39 carries current ratio above its industry’s typical mid-range, while Northrop Grumman (NOC) at 1.23 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

MLI

Capital Goods industry group

4.39

Max: 5.22
MLI: 4.39
Q3: 2.95
Median: 2.08
Q1: 1.43
Min: 0.36

NOC

Capital Goods industry group

1.23

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
NOC: 1.23
Min: 0.36

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Mueller Industries (MLI) at 0.01 keeps leverage in the lower industry quartile, while Northrop Grumman (NOC) at 0.93 runs a more typical debt-to-equity mix.

MLI

Capital Goods industry group

0.01

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
MLI: 0.01
Min: 0.00

NOC

Capital Goods industry group

0.93

Max: 2.33
Q3: 1.12
NOC: 0.93
Median: 0.60
Q1: 0.29
Min: 0.00

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
Current Ratio (MRQ)	4.39	1.23
Debt / Equity (MRQ)	0.01	0.93
Net Debt / EBITDA	-1.31	1.87

Dividends

Dividend Yield (TTM)

Both Mueller Industries (MLI) at 1.24% and Northrop Grumman (NOC) at 1.82% offer top-quartile dividend income relative to share price within their industries.

MLI

Capital Goods industry group

1.24%

Max: 2.66%
MLI: 1.24%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

NOC

Capital Goods industry group

1.82%

Max: 2.66%
NOC: 1.82%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Mueller Industries (MLI) at 16.67% pays out a band-typical share of earnings, while Northrop Grumman (NOC) at 30.18% distributes more than its industry norm — less retained, thinner cover.

MLI

Capital Goods industry group

16.67%

Max: 67.39%
Q3: 28.02%
MLI: 16.67%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

NOC

Capital Goods industry group

30.18%

Max: 67.39%
NOC: 30.18%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
Dividend Yield (TTM)	1.24%	1.82%
Dividend Payout Ratio (TTM)	16.67%	30.18%

Valuation

P/E Ratio (TTM)

Both Mueller Industries (MLI) at 13.58 and Northrop Grumman (NOC) at 16.57 sit in the cheaper earnings-multiple quartile for P/E ratio, with the market paying less for a dollar of trailing earnings than it pays for typical peers.

MLI

Capital Goods industry group

13.58

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
MLI: 13.58
Min: 3.03

NOC

Capital Goods industry group

16.57

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
NOC: 16.57
Min: 3.03

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Mueller Industries (MLI) at 2.31 and Northrop Grumman (NOC) at 1.71 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

MLI

Capital Goods industry group

2.31

Max: 7.54
Q3: 3.76
MLI: 2.31
Median: 2.15
Q1: 1.03
Min: 0.03

NOC

Capital Goods industry group

1.71

Max: 7.54
Q3: 3.76
Median: 2.15
NOC: 1.71
Q1: 1.03
Min: 0.03

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Mueller Industries (MLI) at 0.33 sits in the lower P/B ratio quartile against book while Northrop Grumman (NOC) at 3.99 is valued near its industry’s middle — MLI is cheaper on assets, though weigh it against ROE and asset quality.

MLI

Capital Goods industry group

0.33

Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
MLI: 0.33
Min: -1.08

NOC

Capital Goods industry group

3.99

Max: 9.66
Q3: 5.00
NOC: 3.99
Median: 3.12
Q1: 1.81
Min: -1.08

Mueller Industries (MLI) vs. Northrop Grumman (NOC): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Mueller Industries (MLI) and Northrop Grumman (NOC)
Metric	MLI	NOC
P/E Ratio (TTM)	13.58	16.57
P/S Ratio (TTM)	2.31	1.71
P/B Ratio (MRQ)	0.33	3.99
Free Cash Flow Yield (TTM)	4.65%	4.21%