Mueller Water Products, Inc. (MWA) 10-Year Financial Performance & Capital Metrics

MWA • • Industrial / General

IndustrialsIndustrial MachineryFluid Handling & Pumping SystemsWater & Fuel Pumping

AboutMueller Water Products Inc. manufactures and markets products and services used in the transmission, distribution, and measurement of water in North America and internationally. Its products and services are used by municipalities, and the residential and non-residential construction industries. It operates through two segments, Infrastructure and Technologies. The company's Infrastructure segment manufactures and sells valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; and dry-barrel and wet-barrel fire hydrants and service brass products, as well as a line of pipe repair products, such as clamps and couplings used to repair leaks. This segment offers its products under Canada Valve, Centurion, Ez-Max, Hydro Gate, Hydro-Guard, HYMAX, HYMAX VERSA, Jones, Krausz, Milliken, Mueller, Pratt, Pratt Industrial, Repamax, Repaflex, and Singer brands. Its Technologies segment offers residential and commercial water metering, water leak detection and pipe condition assessment products, systems, and services. It offers products under Echologics, Echoshore, ePulse, Hersey, LeakFinderRT, LeakFinderST, LeakListener, LeakTuner, Mi.Echo, Mi.Data, Mi.Hydrant, Mi.Net, Mueller Systems, and Sentryx brands. The company was founded in 1857 and is headquartered in Atlanta, Georgia.Show more

Revenue $1.31B +3.1%
EBITDA $248M +30.5%
Net Income $116M +35.6%
EPS (Diluted) 0.74 +34.5%
Gross Margin 34.91% +17.4%
EBITDA Margin 18.86% +26.7%
Operating Margin 13.82% +38.4%
Net Margin 8.82% +31.5%
ROE 15.23% +23.0%
ROIC 13.62% +44.0%
Debt/Equity 0.59 -11.2%
Interest Coverage 8.45 +22.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓11 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.05%

5Y6.31%

3Y5.77%

TTM8.75%

Profit (Net Income) CAGR

10Y7.64%

5Y12.68%

3Y18.08%

TTM65.4%

EPS CAGR

10Y8.09%

5Y13.09%

3Y18.92%

TTM65.46%

ROCE

10Y Avg10.2%

5Y Avg10.5%

3Y Avg10.8%

Latest13.64%

Peer Comparison

Water & Fuel Pumping

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
XYLXylem Inc.	35.26B	144.81	39.67	16.27%	10.66%	8.28%	2.67%	0.20
MWAMueller Water Products, Inc.	4.12B	26.36	35.62	3.06%	13.41%	19.53%	4.64%	0.59
WTSWatts Water Technologies, Inc.	8.13B	296.80	34.15	9.53%	13.79%	16.59%	4.01%	0.12
PNRPentair plc	17.5B	106.97	28.60	-0.53%	15.84%	17.29%	3.95%	0.50
FELEFranklin Electric Co., Inc.	4.47B	100.45	26.02	-2.12%	6.71%	10.69%	4.91%	0.15
AOSA. O. Smith Corporation	8.16B	71.99	19.83	-0.9%	13.85%	28.76%	5.81%	0.12

Profit & Loss

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Sales/Revenue+	1.16B	800.6M	826M	916M	968M	964.1M	1.11B	1.25B	1.28B	1.31B
Revenue Growth %	-0.02%	-0.31%	0.03%	0.11%	0.06%	-0%	0.15%	0.12%	0.02%	0.03%
Cost of Goods Sold+	817.2M	532.7M	558.5M	626.1M	647.1M	635.9M	752.5M	883.1M	896.2M	855.7M
COGS % of Revenue	0.7%	0.67%	0.68%	0.68%	0.67%	0.66%	0.68%	0.71%	0.7%	0.65%
Gross Profit+	347.3M	267.9M	267.5M	289.9M	320.9M	328.2M	358.5M	364.3M	379.5M	459M
Gross Margin %	0.3%	0.33%	0.32%	0.32%	0.33%	0.34%	0.32%	0.29%	0.3%	0.35%
Gross Profit Growth %	-0%	-0.23%	-0%	0.08%	0.11%	0.02%	0.09%	0.02%	0.04%	0.21%
Operating Expenses+	228.5M	175M	166.8M	166.7M	182.7M	211.4M	226.8M	252.7M	252.1M	277.3M
OpEx % of Revenue	0.2%	0.22%	0.2%	0.18%	0.19%	0.22%	0.2%	0.2%	0.2%	0.21%
Selling, General & Admin	146.7M	168.8M	155.4M	167.7M	183.1M	198.4M	218.8M	238.7M	241.9M	245.2M
SG&A % of Revenue	0.13%	0.21%	0.19%	0.18%	0.19%	0.21%	0.2%	0.19%	0.19%	0.19%
Research & Development	13.7M	9.9M	12.1M	11.6M	14.3M	0	0	0	0	0
R&D % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	-	-	-	-	-
Other Operating Expenses	11.6M	8.3M	0	-1M	-22.4M	13M	8M	14M	10.2M	32.1M
Operating Income+	109.6M	92.9M	100.7M	121.7M	124.3M	116.8M	131.7M	111.6M	127.4M	181.7M
Operating Margin %	0.09%	0.12%	0.12%	0.13%	0.13%	0.12%	0.12%	0.09%	0.1%	0.14%
Operating Income Growth %	-0.12%	-0.15%	0.08%	0.21%	0.02%	-0.06%	0.13%	-0.15%	0.14%	0.43%
EBITDA+	167.7M	132.4M	142.6M	165.4M	177.3M	174.6M	191.3M	172.1M	189.9M	247.9M
EBITDA Margin %	0.14%	0.17%	0.17%	0.18%	0.18%	0.18%	0.17%	0.14%	0.15%	0.19%
EBITDA Growth %	-0.07%	-0.21%	0.08%	0.16%	0.07%	-0.02%	0.1%	-0.1%	0.1%	0.31%
D&A (Non-Cash Add-back)	58.1M	39.5M	41.9M	43.7M	53M	57.8M	59.6M	60.5M	62.5M	66.2M
EBIT	78.6M	91.4M	100.7M	116.6M	104.3M	119.5M	117.6M	115.2M	126.4M	183.9M
Net Interest Income+	-27.5M	-23.6M	-20.3M	-20.3M	-19.8M	-25.5M	-23.4M	-16.9M	-14.7M	-12.7M
Interest Income	300K	400K	2M	4.4M	3.5M	1.1M	400K	700K	3.7M	8.8M
Interest Expense	27.6M	24M	22.3M	24.7M	23.3M	26.6M	23.8M	17.6M	18.4M	21.5M
Other Income/Expense	-28.9M	-23.6M	-23.6M	-26M	-42.2M	-22.7M	-36.8M	-13M	-18.4M	-18.3M
Pretax Income+	50.7M	69.3M	78.5M	95.7M	82.1M	94.1M	94.9M	98.6M	109M	163.4M
Pretax Margin %	0.04%	0.09%	0.1%	0.1%	0.08%	0.1%	0.09%	0.08%	0.09%	0.12%
Income Tax+	19.8M	24.2M	24.2M	-9.9M	18.3M	22.1M	24.5M	22M	23.5M	47.5M
Effective Tax Rate %	0.61%	0.92%	1.57%	1.1%	0.78%	0.77%	0.74%	0.78%	0.78%	0.71%
Net Income+	30.9M	63.9M	123.3M	105.6M	63.8M	72M	70.4M	76.6M	85.5M	115.9M
Net Margin %	0.03%	0.08%	0.15%	0.12%	0.07%	0.07%	0.06%	0.06%	0.07%	0.09%
Net Income Growth %	-0.44%	1.07%	0.93%	-0.14%	-0.4%	0.13%	-0.02%	0.09%	0.12%	0.36%
Net Income (Continuing)	12.5M	45.1M	54.3M	105.6M	63.8M	72M	70.4M	76.6M	85.5M	115.9M
Discontinued Operations	18.4M	18.8M	69M	0	0	0	0	0	0	0
Minority Interest	1.5M	1.2M	1.1M	1.5M	2.2M	0	0	0	0	0
EPS (Diluted)+	0.19	0.39	0.76	0.66	0.40	0.45	0.44	0.48	0.55	0.74
EPS Growth %	-0.44%	1.05%	0.95%	-0.13%	-0.39%	0.13%	-0.02%	0.09%	0.15%	0.35%
EPS (Basic)	0.19	0.40	0.77	0.67	0.40	0.46	0.44	0.49	0.55	0.74
Diluted Shares Outstanding	163.2M	163.4M	161.8M	159.7M	159M	158.6M	159.2M	158M	156.8M	156.9M
Basic Shares Outstanding	160.5M	161.3M	160.1M	158.2M	157.8M	157.8M	158.4M	157.4M	156.3M	155.9M
Dividend Payout Ratio	0.39%	0.25%	0.19%	0.29%	0.5%	0.46%	0.49%	0.48%	0.45%	0.34%

Balance Sheet

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Total Current Assets+	549.5M	612.3M	670.3M	685.5M	566.9M	581.2M	653.7M	680M	706.8M	858.4M
Cash & Short-Term Investments	113.1M	195M	361.7M	347.1M	176.7M	208.9M	227.5M	146.5M	160.3M	309.9M
Cash Only	113.1M	195M	361.7M	347.1M	176.7M	208.9M	227.5M	146.5M	160.3M	309.9M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	175.3M	186.7M	145.3M	164.3M	179.1M	194.8M	223.9M	232.7M	221.8M	215.5M
Days Sales Outstanding	54.95	85.12	64.21	65.47	67.53	73.75	73.56	68.09	63.46	59.83
Inventory	219.1M	213.8M	138.9M	156.6M	191.4M	166.2M	187.6M	281.5M	305.9M	311.3M
Days Inventory Outstanding	97.86	146.49	90.78	91.29	107.96	95.4	91	116.35	124.59	132.79
Other Current Assets	42M	16.8M	24.4M	17.5M	26M	2.5M	1.9M	4.7M	1M	4.5M
Total Non-Current Assets+	680.3M	668.3M	588M	606.4M	770.4M	813.7M	864.3M	818.1M	798.2M	777.5M
Property, Plant & Equipment	148.9M	155.1M	122.3M	150.9M	217.1M	279.4M	310.5M	327.6M	335.3M	345.7M
Fixed Asset Turnover	7.82x	5.16x	6.75x	6.07x	4.46x	3.45x	3.58x	3.81x	3.80x	3.80x
Goodwill	5.4M	5.4M	12.9M	12.1M	95.7M	99.8M	115.1M	98.6M	93.7M	80.7M
Intangible Assets	501.9M	480.6M	426.4M	408.1M	433.7M	408.8M	392.5M	361.2M	334M	309.7M
Long-Term Investments	-28.3M	-109.9M	-115.1M	-79.2M	-87.9M	0	0	0	0	0
Other Non-Current Assets	24.1M	27.2M	26.4M	35.3M	23.9M	25.7M	46.2M	30.7M	35.2M	41.4M
Total Assets+	1.23B	1.28B	1.26B	1.29B	1.34B	1.4B	1.52B	1.5B	1.5B	1.64B
Asset Turnover	0.95x	0.63x	0.66x	0.71x	0.72x	0.69x	0.73x	0.83x	0.85x	0.80x
Asset Growth %	-0.07%	0.04%	-0.02%	0.03%	0.04%	0.04%	0.09%	-0.01%	0%	0.09%
Total Current Liabilities+	168M	185.8M	141.6M	167.1M	178.5M	155M	220.1M	241M	218.8M	258M
Accounts Payable	98.7M	73.7M	82.5M	90M	84.6M	67.3M	92M	122.8M	102.9M	109.9M
Days Payables Outstanding	44.08	50.5	53.92	52.47	47.72	38.63	44.62	50.76	41.91	46.88
Short-Term Debt	6.1M	5.9M	5.6M	700K	900K	1.1M	1M	800K	700K	800K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	10.9M	56.7M	25.7M	22.5M	22M	48.8M	68.7M	56.4M	55.4M	82.8M
Current Ratio	3.27x	3.30x	4.73x	4.10x	3.18x	3.75x	2.97x	2.82x	3.23x	3.33x
Quick Ratio	1.97x	2.14x	3.75x	3.17x	2.10x	2.68x	2.12x	1.65x	1.83x	2.12x
Cash Conversion Cycle	108.72	181.11	101.07	104.3	127.77	130.52	119.93	133.68	146.14	145.74
Total Non-Current Liabilities+	694M	675.3M	627.2M	560M	566.5M	599.3M	603M	587.8M	574.7M	567.8M
Long-Term Debt	482.9M	479.2M	475M	444.3M	445.4M	446.5M	445.9M	446.1M	446.7M	448.7M
Capital Lease Obligations	0	0	0	0	0	23.3M	24.6M	22.4M	19.8M	22.5M
Deferred Tax Liabilities	145.3M	109.9M	115.1M	79.2M	87.9M	96.5M	95.1M	86.3M	73.8M	55.4M
Other Non-Current Liabilities	65.8M	86.2M	37.1M	36.5M	33.2M	30.5M	34.9M	30.5M	31.9M	33M
Total Liabilities	862M	861.1M	768.8M	727.1M	745M	754.3M	823.1M	828.8M	793.5M	825.8M
Total Debt+	489M	485.1M	480.6M	445M	446.3M	474.9M	475.5M	473.7M	472.1M	477.5M
Net Debt	375.9M	290.1M	118.9M	97.9M	269.6M	266M	248M	327.2M	311.8M	167.6M
Debt / Equity	1.33x	1.16x	0.98x	0.79x	0.75x	0.74x	0.68x	0.71x	0.66x	0.59x
Debt / EBITDA	2.92x	3.66x	3.37x	2.69x	2.52x	2.72x	2.49x	2.75x	2.49x	1.93x
Net Debt / EBITDA	2.24x	2.19x	0.83x	0.59x	1.52x	1.52x	1.30x	1.90x	1.64x	0.68x
Interest Coverage	3.97x	3.87x	4.52x	4.93x	5.33x	4.39x	5.53x	6.34x	6.92x	8.45x
Total Equity+	367.8M	419.5M	489.5M	564.8M	592.3M	640.7M	694.9M	669.3M	711.5M	810.1M
Equity Growth %	0.05%	0.14%	0.17%	0.15%	0.05%	0.08%	0.08%	-0.04%	0.06%	0.14%
Book Value per Share	2.25	2.57	3.03	3.54	3.73	4.04	4.36	4.24	4.54	5.16
Total Shareholders' Equity	366.3M	418.3M	488.4M	563.3M	590.1M	640.7M	694.9M	669.3M	711.5M	810.1M
Common Stock	1.6M	1.6M	1.6M	1.6M	1.6M	1.6M	1.6M	1.6M	1.6M	1.6M
Retained Earnings	-1.14B	-1.08B	-955.6M	-850M	-786.2M	-714.2M	-643.9M	-567.3M	-481.8M	-365.9M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-67.3M	-68.3M	-51.8M	-32.8M	-36M	-24.7M	-5M	-44.6M	-48.7M	-30.8M
Minority Interest	1.5M	1.2M	1.1M	1.5M	2.2M	0	0	0	0	0

Cash Flow

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	87.8M	145.1M	16.1M	132.7M	92.5M	140.3M	156.7M	52.3M	109M	238.8M
Operating CF Margin %	0.08%	0.18%	0.02%	0.14%	0.1%	0.15%	0.14%	0.04%	0.09%	0.18%
Operating CF Growth %	-0.41%	0.65%	-0.89%	7.24%	-0.3%	0.52%	0.12%	-0.67%	1.08%	1.19%
Net Income	30.9M	63.9M	54.3M	105.6M	63.8M	72M	70.4M	76.6M	85.5M	115.9M
Depreciation & Amortization	58.1M	52.6M	41.9M	43.7M	53M	57.8M	59.6M	60.5M	62.5M	66.2M
Stock-Based Compensation	4.8M	5.2M	6M	4.3M	4.3M	5.3M	8.1M	8.7M	8.5M	9M
Deferred Taxes	18.5M	-7.5M	-4M	-43.3M	700K	7.2M	-5.3M	-3.5M	-14.4M	-21.5M
Other Non-Cash Items	37M	24.9M	-38.8M	4.4M	3.7M	10.8M	19.2M	7.1M	1.7M	28.7M
Working Capital Changes	-61.5M	6M	-43.3M	18M	-33M	-12.8M	4.7M	-97.1M	-34.8M	40.5M
Change in Receivables	3.5M	-11.1M	-9.9M	-18.9M	5.2M	-7.5M	-29.9M	-17.8M	10.9M	8.4M
Change in Inventory	-24.6M	5.5M	-1.9M	-18.4M	-17.4M	24.9M	-23.5M	-98.3M	-19.9M	-8M
Change in Payables	-3.5M	11.1M	3.5M	18.9M	-11M	-17.6M	23M	32.2M	-19.7M	6.8M
Cash from Investing+	-31.6M	-39.1M	230.9M	-48.4M	-211.8M	-67.5M	-81.7M	-54.9M	-42.1M	-47.2M
Capital Expenditures	-37.5M	-31.5M	-40.6M	-55.7M	-86.6M	-67.7M	-62.7M	-54.7M	-47.6M	-47.4M
CapEx % of Revenue	0.03%	0.04%	0.05%	0.06%	0.09%	0.07%	0.06%	0.04%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.6M	-7.6M	298.1M	7.3M	2.3M	200K	700K	0	5.5M	200K
Cash from Financing+	-99M	-23.7M	-81.5M	-97.4M	-50.9M	-41.4M	-58.8M	-72M	-48.8M	-46M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12M	-16.1M	-24M	-30.1M	-32M	-33.1M	-34.8M	-36.5M	-38.1M	-39.9M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-6.4M	-2.6M	-700K	7.1M	-900K	-7.2M	-3.1M	-1.8M	-2.3M	-2.9M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	50.3M	113.6M	-24.5M	77M	5.9M	72.6M	94M	-2.4M	61.4M	191.4M
FCF Margin %	0.04%	0.14%	-0.03%	0.08%	0.01%	0.08%	0.08%	-0%	0.05%	0.15%
FCF Growth %	-0.55%	1.26%	-1.22%	4.14%	-0.92%	11.31%	0.29%	-1.03%	26.58%	2.12%
FCF per Share	0.31	0.70	-0.15	0.48	0.04	0.46	0.59	-0.02	0.39	1.22
FCF Conversion (FCF/Net Income)	2.84x	2.27x	0.13x	1.26x	1.45x	1.95x	2.23x	0.68x	1.27x	2.06x
Interest Paid	36.8M	21.1M	19.5M	8.9M	22.2M	24.3M	25.3M	19.2M	15.1M	10M
Taxes Paid	3.7M	27.1M	31.9M	10.7M	29.1M	15.3M	16.8M	26.9M	37.7M	74.4M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.59%	16.23%	27.13%	20.03%	11.03%	11.68%	10.54%	11.23%	12.38%	15.23%
Return on Invested Capital (ROIC)	11.11%	9.59%	11.46%	14.36%	12.23%	9.91%	10.68%	8.63%	9.46%	13.62%
Gross Margin	29.82%	33.46%	32.39%	31.65%	33.15%	34.04%	32.27%	29.2%	29.75%	34.91%
Net Margin	2.65%	7.98%	14.93%	11.53%	6.59%	7.47%	6.34%	6.14%	6.7%	8.82%
Debt / Equity	1.33x	1.16x	0.98x	0.79x	0.75x	0.74x	0.68x	0.71x	0.66x	0.59x
Interest Coverage	3.97x	3.87x	4.52x	4.93x	5.33x	4.39x	5.53x	6.34x	6.92x	8.45x
FCF Conversion	2.84x	2.27x	0.13x	1.26x	1.45x	1.95x	2.23x	0.68x	1.27x	2.06x
Revenue Growth	-1.71%	-31.25%	3.17%	10.9%	5.68%	-0.4%	15.24%	12.28%	2.27%	3.06%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Mueller Co.	7.2M	5.8M	1.1M	818.8M	871M	885.5M	1.02B	714.1M	634.4M	755.5M
Mueller Co. Growth	-	-19.44%	-81.03%	74336.36%	6.38%	1.66%	15.42%	-30.13%	-11.16%	19.09%
Mueller Technologies	-	-	-	97.2M	97M	78.6M	89M	533.3M	641.3M	559.2M
Mueller Technologies Growth	-	-	-	-	-0.21%	-18.97%	13.23%	499.21%	20.25%	-12.80%
Corporate	-	-	-	-	-	-	-	-	-	-
Corporate Growth	-	-	-	-	-	-	-	-	-	-
Anvil	100K	100K	-	-	-	-	-	-	-	-
Anvil Growth	-	0.00%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.04B	1.02B	732M	812.2M	-	-	-	-	-	-
UNITED STATES Growth	-	-1.64%	-28.28%	10.96%	-	-	-	-	-	-
CANADA	82.7M	73.8M	62.3M	71.7M	-	-	-	-	-	-
CANADA Growth	-	-10.76%	-15.58%	15.09%	-	-	-	-	-	-
RestOfWorld	44.1M	44.4M	31.7M	32.1M	-	-	-	-	-	-
RestOfWorld Growth	-	0.68%	-28.60%	1.26%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Mueller Water Products, Inc. (MWA) has a price-to-earnings (P/E) ratio of 35.6x. This suggests investors expect higher future growth.

Growth & Financials

Mueller Water Products, Inc. (MWA) reported $1.43B in revenue for fiscal year 2024. This represents a 7% increase from $1.34B in 2011.

Mueller Water Products, Inc. (MWA) grew revenue by 3.1% over the past year. Growth has been modest.

Yes, Mueller Water Products, Inc. (MWA) is profitable, generating $191.7M in net income for fiscal year 2024 (8.8% net margin).

Dividend & Returns

Yes, Mueller Water Products, Inc. (MWA) pays a dividend with a yield of 0.96%. This makes it attractive for income-focused investors.

Mueller Water Products, Inc. (MWA) has a return on equity (ROE) of 15.2%. This is reasonable for most industries.

Mueller Water Products, Inc. (MWA) generated $172.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...