Paul Mueller Company: Even With A Decline In Backlog, It's Too Attractive To Ignore

Daniel Jones Investing Group Leader Follow Summary Paul Mueller Company remains a strong buy due to compelling value, robust growth, and a pristine balance sheet. Despite a 21.8% revenue surge to $160.2M in H1 2026, net income and cash flows declined due to higher costs and one-off events. MUEL’s new module fabrication building is nearly full, supporting higher workloads and mitigating the need for expensive contractors. Valuation remains attractive with MUEL trading cheaper than peers, a $33.3M net cash position, and only modest backlog decline. Looking for a helping hand in the market? Members of Crude Value Insights get exclusive ideas and guidance to navigate any climate. Learn More » Yuriy Turetskiy/iStock via Getty Images In early February of this year, I wrote a bullish article regarding Paul Mueller Company ( MUEL ). But it wasn't just bullish. It was incredibly bullish. I argued that the company offered investors a compelling This article was written by Daniel Jones 37.86K Followers Follow Daniel is an avid and active professional investor. He runs Crude Value Insights, a value-oriented newsletter aimed at analyzing the cash flows and assessing the value of companies in the oil and gas space. His primary focus is on finding businesses that are trading at a significant discount to their intrinsic value by employing a combination of Benjamin Graham's investment philosophy and a contrarian approach to the market and the securities therein. Learn more. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.