Mueller Water Products, Inc. MWA

Industrials SIC 3490 - Miscellaneous Fabricated Metal Products NAICS Manufacturing › Fabricated Metal Product Manufacturing › Other Fabricated Metal Product Manufacturing derived NYSE

Mueller Water Products, Inc. ("Mueller," "we," "our," or the "Company") is a leading manufacturer and marketer of products and solutions used in the transmission, distribution and measurement of water in North America. Our products and solutions are used by municipalities and the residential and non-residential construction industries. Some of our products have leading positions as a result of their strong brand recognition and reputation for quality, service and innovation. We believe we have one of the largest installed bases of iron gate valves and fire hydrants in the United States. Our iron gate valve and hydrant products are specified for use in the largest 100 metropolitan areas in the United States. Our large installed base, broad product range and well-known brands have led to long-standing relationships with the key distributors and end users of our products. Our consolidated net sales were $1,429.7 million in 2025.

Last close 22.26 2026-10-23
Market cap $3.48B 2026-06-30 share count
52-week range 20.90 - 31.00

Valuation FY2025 figures against the last close

P/S2.4x
P/E18.2x
P/FCF20.2x
EV/EBITDA11.4x
Dividend yield1.2%
Diluted EPS1.22

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Water Flow Solutions
  • Water Management Solutions
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Water Flow Solutions, FY2025: 824.9M (57.7%) 58% Water Flow Solutions Water Management Solutions, FY2025: 604.8M (42.3%) 42% Water Management Solutions FY2024 Water Flow Solutions, FY2024: 755.5M (57.5%) 57% Water Management Solutions, FY2024: 559.2M (42.5%) 43% FY2023 Water Flow Solutions, FY2023: 634.4M (49.7%) 50% Water Management Solutions, FY2023: 641.3M (50.3%) 50%
Segment FY2025FY2024FY2023
Water Flow Solutions $824.9M $755.5M $634.4M
Water Management Solutions $604.8M $559.2M $641.3M

As the company reported it, from the “Segment Information (Financial Information by Reportable Segment) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.43B$1.31B$1.28B$1.25B$1.11B$964.1M$968.0M$916.0M$826.0M$800.6M
Cost of revenue $913.0M$855.7M$896.2M$883.1M$752.5M$635.9M$647.1M$626.1M$558.1M$531.7M
Gross profit $516.7M$459.0M$379.5M$364.3M$358.5M$328.2M$320.9M$289.9M$267.9M$268.9M
R&D $19.9M$20.5M$25.9M$24.5M$17.1M$15.0M$14.3M$11.6M$12.1M$9.9M
SG&A $247.3M$245.2M$241.9M$238.7M$218.8M$198.4M$182.7M$166.7M$155.4M$149.5M
Total operating expenses $256.1M$277.3M$252.1M$252.7M$226.8M$211.4M$196.6M$168.2M$165.8M$156.7M
Operating income $260.6M$181.7M$127.4M$111.6M$131.7M$116.8M$124.3M$121.7M$102.1M$112.2M
Interest expense $20.0M$21.5M$18.4M$17.6M$23.8M$26.6M$23.3M$25.3M$24.2M$24.0M
Pre-tax income $254.2M$163.4M$109.0M$98.6M$94.9M$94.1M$82.1M$95.7M$147.5M$88.1M
Income tax $62.5M$47.5M$23.5M$22.0M$24.5M$22.1M$18.3M$9.9M$24.2M$24.2M
Net income $191.7M$115.9M$85.5M$76.6M$70.4M$72.0M$63.8M$105.6M$123.3M$63.9M
EPS, basic 1.230.740.550.490.44—0.400.670.770.40
EPS, diluted 1.220.740.550.480.44—0.400.660.760.39
Shares, diluted (wtd. avg.) 157.5M156.9M156.8M158.0M159.2M158.6M159.0M159.7M161.8M163.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $431.5M$309.9M$160.3M$146.5M$227.5M$208.9M$176.7M$347.1M$361.7M$195.0M
Receivables $211.9M$208.9M$217.1M$228.0M$212.2M$180.8M$172.8M$164.3M$145.3M$131.8M
Inventory $328.7M$301.7M$297.9M$278.7M$184.7M$162.5M$191.4M$156.6M$138.9M$130.7M
Total current assets $1.03B$858.4M$706.8M$680.0M$653.7M$581.2M$566.9M$685.5M$670.3M$612.3M
Property, plant and equipment $335.7M$318.8M$311.7M$301.6M$283.4M$253.8M$217.1M$150.9M$122.3M$108.4M
Goodwill $89.2M$80.7M$93.7M$98.6M$115.1M$99.8M$95.7M$12.1M$12.9M$7.2M
Other intangibles $307.3M$309.7M$334.0M$361.2M$392.5M$408.9M$433.7M$408.1M——
Total assets $1.84B$1.64B$1.50B$1.50B$1.52B$1.40B$1.34B$1.29B$1.26B$1.28B
Accounts payable $134.4M$109.9M$102.9M$122.8M$92.0M$67.3M$84.6M$90.0M$82.5M$73.7M
Short-term debt $1.2M$800.0K$700.0K$800.0K$1.0M$1.1M$900.0K$700.0K$5.6M$5.6M
Total current liabilities $290.3M$258.0M$218.8M$241.0M$220.1M$155.0M$178.5M$167.1M$141.6M$185.8M
Long-term debt $450.4M$448.7M$446.7M$446.1M$445.9M$446.5M$445.4M$444.3M$475.0M$478.8M
Total liabilities $857.2M$825.8M$793.5M$828.8M$823.1M$754.3M$745.0M$727.1M$768.8M$861.1M
Retained earnings -$174.2M-$365.9M-$481.8M-$567.3M-$643.9M-$714.2M-$786.2M-$850.0M-$955.6M-$1.08B
Total equity $981.7M$810.1M$711.5M$669.3M$694.9M$640.7M$592.3M$564.8M$489.5M$419.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $219.3M$238.8M$109.0M$52.3M$156.7M$140.3M$92.5M$133.1M$59.4M$114.5M
Depreciation and amortisation $46.9M$66.2M$62.5M$60.5M$59.6M$57.8M$53.0M$43.7M$41.9M$39.5M
Stock-based compensation $10.7M$9.0M$8.5M$8.7M$8.1M$5.3M$4.3M$5.2M$6.0M$4.7M
Capital expenditure $47.3M$47.4M$47.6M$54.7M$62.7M$67.7M$86.6M$55.7M$40.6M$31.5M
Investing cash flow -$47.1M-$47.2M-$42.1M-$54.9M-$81.7M-$67.5M-$211.8M-$47.9M-$66.3M-$31.2M
Financing cash flow -$58.3M-$46.0M-$48.8M-$72.0M-$58.8M-$41.4M-$50.9M-$98.3M-$81.4M-$23.7M
Dividends paid $41.9M$39.9M$38.1M$36.5M$34.8M$33.1M$32.0M$30.1M$24.0M$16.1M
Buybacks $15.0M$10.0M$10.0M$35.0M$10.0M$5.0M$10.0M$30.0M$55.0M$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001350593-25-000066.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 800.6M Gross profit, FY2016: 268.9M Net income, FY2016: 63.9M Revenue, FY2017: 826M Gross profit, FY2017: 267.9M Net income, FY2017: 123.3M Revenue, FY2018: 916M Gross profit, FY2018: 289.9M Net income, FY2018: 105.6M Revenue, FY2019: 968M Gross profit, FY2019: 320.9M Net income, FY2019: 63.8M Revenue, FY2020: 964.1M Gross profit, FY2020: 328.2M Net income, FY2020: 72M Revenue, FY2021: 1.1B Gross profit, FY2021: 358.5M Net income, FY2021: 70.4M Revenue, FY2022: 1.2B Gross profit, FY2022: 364.3M Net income, FY2022: 76.6M Revenue, FY2023: 1.3B Gross profit, FY2023: 379.5M Net income, FY2023: 85.5M Revenue, FY2024: 1.3B Gross profit, FY2024: 459M Net income, FY2024: 115.9M Revenue, FY2025: 1.4B Gross profit, FY2025: 516.7M Net income, FY2025: 191.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $800.6M $826.0M $916.0M $968.0M $964.1M $1.11B $1.25B $1.28B $1.31B $1.43B
Gross profit $268.9M $267.9M $289.9M $320.9M $328.2M $358.5M $364.3M $379.5M $459.0M $516.7M
Net income $63.9M $123.3M $105.6M $63.8M $72.0M $70.4M $76.6M $85.5M $115.9M $191.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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