Mueller Water Products Inc. Class A (MWA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.39	$0.5	+28.2%	—	$395.9M	—
Q2 26	$0.37	$0.4	+8.1%	—	$384.4M	—
Q1 26	$0.26	$0.29	+11.5%	—	$318.2M	—
Q4 25	$0.34	$0.38	+11.8%	—	$380.8M	—
Q3 25	$0.34	$0.34	0.0%	—	$380.3M	—
Q2 25	$0.31	$0.34	+9.7%	—	$364.3M	—
Q1 25	$0.19	$0.25	+31.6%	—	$304.3M	—
Q4 24	$0.22	$0.22	0.0%	—	$348.2M	—
Q3 24	$0.22	$0.32	+45.5%	—	$356.7M	—
Q2 24	$0.14	$0.3	+114.3%	—	$353.4M	—
Q1 24	$0.08	$0.13	+62.5%	—	$256.4M	—
Q4 23	$0.14	$0.19	+35.7%	—	$301.4M	—
Q3 23	$0.2	$0.18	-10.0%	—	$326.6M	—
Q2 23	$0.15	$0.14	-6.7%	—	$332.9M	—
Q1 23	$0.08	$0.13	+62.5%	—	$314.8M	—
Q4 22	$0.14	$0.1	-28.6%	—	$331.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.23	—	—	$1.4B	—
FY24	—	$0.74	—	—	$1.3B	—
FY23	—	$0.55	—	—	$1.3B	—
FY22	—	$0.49	—	—	$1.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$800.6M	$826M	$916M	$968M	$964.1M	$1.1B	$1.2B	$1.3B	$1.3B	$1.4B
YoY change	+0.91%	+3.17%	+10.9%	+5.68%	-0.4%	+15.2%	+12.3%	+2.27%	+3.06%	+8.75%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	800.6M	826M	916M	968M	964.1M	1.1B	1.2B	1.3B	1.3B	1.4B
Cost of revenue	531.7M	558.1M	626.1M	647.1M	635.9M	752.5M	883.1M	896.2M	855.7M	913M
Gross profit	268.9M	267.9M	289.9M	320.9M	328.2M	358.5M	364.3M	379.5M	459M	516.7M
Gross margin	33.6%	32.4%	31.6%	33.2%	34%	32.3%	29.2%	29.7%	34.9%	36.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	149.5M	155.4M	166.7M	182.7M	198.4M	218.8M	238.7M	241.9M	245.2M	247.3M
Operating expenses	156.7M	165.8M	177.2M	199M	211.4M	218.8M	238.7M	241.9M	245.2M	247.3M
Operating income	112.2M	102.1M	112.7M	138.2M	129.8M	139.7M	125.6M	137.6M	213.8M	269.4M
Operating margin	14%	12.4%	12.3%	14.3%	13.5%	12.6%	10.1%	10.8%	16.3%	18.8%
Non-operating income, net	-19.3M	-1.4M	3.9M	-36.3M	-10.2M	-21.4M	-10.1M	-13.9M	-37.7M	-8.6M
Pretax income	69.3M	78.5M	95.7M	82.1M	94.1M	94.9M	98.6M	109M	163.4M	254.2M
Income tax	24.2M	24.2M	-9.9M	18.3M	22.1M	24.5M	22M	23.5M	47.5M	62.5M
Net income	63.9M	123.3M	105.6M	63.8M	72M	70.4M	76.6M	85.5M	115.9M	191.7M
Net margin	7.98%	14.9%	11.5%	6.59%	7.47%	6.34%	6.14%	6.7%	8.82%	13.4%
EBITDA	130.9M	142.6M	155.4M	171.2M	190.3M	201.9M	189.7M	199.1M	282.2M	328.9M
EPS	0.4	0.77	0.67	0.4	0.46	0.44	0.49	0.55	0.74	1.23
Diluted EPS	0.4	0.76	0.66	0.4	0.45	0.44	0.48	0.55	0.74	1.22

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	301.4M	256.4M	353.4M	356.7M	348.2M	304.3M	364.3M	380.3M	380.8M	318.2M	384.4M	395.9M
Cost of revenue	213M	170.1M	223M	225.3M	237.3M	201.3M	236.3M	234.6M	240.8M	198.4M	239.9M	240.1M
Gross profit	88.4M	86.3M	130.4M	131.4M	110.9M	103M	128M	145.7M	140M	119.8M	144.5M	155.8M
Gross margin	29.3%	33.7%	36.9%	36.8%	31.8%	33.8%	35.1%	38.3%	36.8%	37.6%	37.6%	39.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	54.2M	56.9M	64.7M	61.5M	63.1M	53.9M	55.7M	71M	66.7M	59.8M	59.7M	64M
Operating expenses	54.2M	56.9M	64.7M	61.5M	63.1M	53.9M	55.7M	71M	66.7M	59.8M	59.7M	64M
Operating income	34.2M	29.4M	65.7M	69.9M	47.8M	49.1M	72.3M	74.7M	73.3M	60M	84.8M	91.8M
Operating margin	11.3%	11.5%	18.6%	19.6%	13.7%	16.1%	19.8%	19.6%	19.2%	18.9%	22.1%	23.2%
Non-operating income, net	-10.2M	-9.2M	-3.2M	-3.9M	-20.4M	-1.7M	-2.3M	-1M	-3.6M	-3.3M	-4.4M	-11.3M
Pretax income	20.7M	16.9M	58.9M	63.2M	24.4M	45.8M	67.7M	72M	68.7M	55.7M	78.8M	79.8M
Income tax	3.5M	2.6M	14.6M	15.9M	14.4M	10.5M	16.4M	19.5M	16.1M	12.5M	19.7M	12.5M
Net income	17.2M	14.3M	44.3M	47.3M	10M	35.3M	51.3M	52.5M	52.6M	43.2M	59.1M	67.3M
Net margin	5.71%	5.58%	12.5%	13.3%	2.87%	11.6%	14.1%	13.8%	13.8%	13.6%	15.4%	17%
EBITDA	51M	44.7M	83.5M	85.2M	66.7M	63.3M	86.3M	89.5M	89.9M	75.7M	100.2M	108.5M
EPS	0.11	0.09	0.28	0.3	0.06	0.23	0.33	0.34	—	0.28	0.38	0.43
Diluted EPS	0.11	0.09	0.28	0.3	0.06	0.22	0.33	0.33	—	0.27	0.38	0.43

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2B	2B	1.8B	1.8B	1.6B	2.4B	1.6B	2B	3.4B	4B	3.4B
Enterprise value	2.3B	2.2B	1.9B	2B	1.9B	2.7B	1.9B	2.3B	3.6B	4B	3.3B
Shares outstanding	161.3M	160.1M	158.2M	157.8M	157.8M	158.4M	157.4M	156.3M	155.9M	156.4M	156.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	31.7	16.6	17.2	27.8	22.8	34.2	21.1	23.2	29.2	20.8	15.1
P/S	2.53	2.48	1.99	1.83	1.7	2.17	1.3	1.55	2.57	2.79	2.27
P/B	4.83	4.19	3.22	2.99	2.56	3.47	2.42	2.79	4.18	4.07	2.99
EV/EBITDA	17.7	15.2	12.3	11.9	10	13.2	10.2	11.5	12.6	12.2	9.24
EV/Sales	2.89	2.62	2.09	2.11	1.98	2.39	1.56	1.8	2.7	2.81	2.25
Earnings yield	3.16%	6.02%	5.8%	3.6%	4.39%	2.92%	4.74%	4.31%	3.43%	4.8%	6.61%
FCF yield	5.61%	-1.2%	4.25%	0.33%	4.43%	3.9%	-0.15%	3.1%	5.66%	4.31%	3.87%
PEG	—	—	—	—	—	—	—	—	—	—	0.57

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	33.6%	32.4%	31.6%	33.2%	34%	32.3%	29.2%	29.7%	34.9%	36.1%	39.4%
Operating margin	14%	12.4%	12.3%	14.3%	13.5%	12.6%	10.1%	10.8%	16.3%	18.8%	23.9%
Net margin	7.98%	14.9%	11.5%	6.59%	7.47%	6.34%	6.14%	6.7%	8.82%	13.4%	15%
ROE	15.2%	25.2%	18.7%	10.8%	11.2%	10.1%	11.4%	12%	14.3%	19.5%	21.7%
ROA	4.99%	9.8%	8.17%	4.77%	5.16%	4.64%	5.11%	5.68%	7.08%	10.4%	10.6%
ROIC	10.3%	11.6%	17%	12.5%	11%	11%	9.79%	10.5%	15.5%	20.3%	22.6%
Return on tangible assets	15.5%	32.5%	23.4%	22.9%	19.1%	14%	13.2%	13.2%	13.6%	18.3%	19%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.3	4.73	4.1	3.18	3.75	2.97	2.82	3.23	3.33	3.54	4.64
Quick ratio	2.59	3.75	3.17	2.08	2.68	2.12	1.65	1.83	2.12	2.41	3.08
Debt / equity	1.15	0.98	0.79	0.75	0.74	0.68	0.71	0.66	0.59	0.46	0.4
Debt / assets	0.38	0.38	0.34	0.33	0.34	0.31	0.32	0.31	0.29	0.25	0.23
Net debt / EBITDA	2.21	0.83	0.63	1.57	1.4	1.23	1.72	1.57	0.59	0.06	-0.11
Interest coverage	4.14	4.54	5.58	4.7	4.7	5.18	6.94	7.26	8.97	14.4	16.1
Effective tax rate	34.9%	30.8%	0%	22.3%	23.5%	25.8%	22.3%	21.6%	29.1%	24.6%	21.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.96	5.16	5.79	6.13	6.11	7.01	7.93	8.16	8.43	9.14	9.47
EPS (basic)	0.4	0.77	0.67	0.4	0.46	0.44	0.49	0.55	0.74	1.23	1.23
EPS (diluted)	0.4	0.76	0.66	0.4	0.45	0.44	0.48	0.55	0.74	1.22	1.42
Book value per share	2.6	3.06	3.57	3.75	4.06	4.39	4.25	4.55	5.2	6.28	7.18
FCF per share	0.7	-0.15	0.49	0.04	0.46	0.59	-0.02	0.39	1.23	1.1	1.14
Cash per share	1.21	2.26	2.19	1.12	1.32	1.44	0.93	1.03	1.99	2.76	3.17
Capex per share	—	—	—	—	—	—	—	—	—	0.3	0.37

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	3.31%	3.93%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	21.6%	24.4%
Payout ratio	25.2%	19.5%	28.5%	50.2%	46%	49.4%	47.7%	44.6%	34.4%	21.9%	19.5%
Dividend yield	0.8%	1.17%	1.65%	1.8%	2.02%	1.44%	2.26%	1.92%	1.18%	1.05%	1.29%

Yield

1.29%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.07

ex-dividend Aug 10, 2026

Payout ratio

20%

of earnings

Dividend growth

11 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.07
May 11, 2026	$0.07
Feb 10, 2026	$0.07

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$301.4M	$256.4M	$353.4M	$356.7M	$348.2M	$304.3M	$364.3M	$380.3M	$380.8M	$318.2M	$384.4M	$395.9M
YoY change	-9.05%	-18.6%	+6.16%	+9.22%	+15.5%	+18.7%	+3.08%	+6.62%	+9.36%	+4.57%	+5.52%	+4.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	195M	361.7M	347.1M	176.7M	208.9M	227.5M	146.5M	160.3M	309.9M	431.5M
Receivables	131.8M	145.3M	164.3M	172.8M	180.8M	212.2M	230.5M	218.1M	212.7M	210.8M
Inventory	130.7M	138.9M	156.6M	195.6M	166.2M	187.6M	281.5M	305.9M	311.3M	328.7M
Total current assets	612.3M	670.3M	685.5M	566.9M	581.2M	653.7M	680M	706.8M	858.4M	1B
Property, plant & equipment	57.8M	68.9M	95M	148.2M	199M	225.9M	240M	218.1M	219.1M	202.1M
Goodwill & intangibles	869.2M	878.6M	840.4M	1.1B	1B	1B	919.6M	855.4M	780.8M	793M
Total assets	1.3B	1.3B	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	1.6B	1.8B
Accounts payable	73.7M	82.5M	90M	84.6M	67.3M	92M	122.8M	102.9M	109.9M	134.4M
Short-term debt	5.6M	5.6M	700K	900K	5.1M	5M	5.2M	5.6M	6.3M	1.2M
Total current liabilities	185.8M	141.6M	167.1M	178.5M	155M	220.1M	241M	218.8M	258M	290.3M
Long-term debt	478.8M	475M	444.3M	445.4M	469.8M	470.5M	468.5M	466.5M	471.2M	450.4M
Total liabilities	861.1M	768.8M	727.1M	745M	754.3M	823.1M	828.8M	793.5M	825.8M	857.2M
Shareholders' equity	419.5M	489.5M	564.8M	592.3M	640.7M	694.9M	669.3M	711.5M	810.1M	981.7M
Total debt	484.4M	480.6M	445M	446.3M	474.9M	475.5M	473.7M	472.1M	477.5M	451.6M
Net debt	289.4M	118.9M	97.9M	269.6M	266M	248M	327.2M	311.8M	167.6M	20.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	160.3M	216.7M	179.2M	243.3M	309.9M	338.2M	329.2M	372M	431.5M	459.6M	421M	495.3M
Receivables	218.1M	167.9M	229.7M	213.2M	212.7M	148M	215.3M	205.4M	210.8M	138.4M	208.1M	201.5M
Inventory	305.9M	315.7M	312.5M	303.6M	311.3M	326.9M	312.5M	323.9M	328.7M	376.7M	385.4M	379.8M
Total current assets	706.8M	729.4M	748.6M	785.5M	858.4M	842.7M	890.7M	937.8M	1B	1B	1.1B	1.1B
Property, plant & equipment	218.1M	220.3M	216.7M	216.6M	219.1M	219.2M	221.3M	223.7M	202.1M	208.2M	208.9M	210.2M
Goodwill & intangibles	855.4M	855.2M	838.6M	821.8M	780.8M	778.8M	775M	791.4M	793M	798.2M	795.6M	785.4M
Total assets	1.5B	1.5B	1.5B	1.6B	1.6B	1.6B	1.7B	1.7B	1.8B	1.8B	1.9B	2B
Accounts payable	102.9M	108.9M	96.7M	85.7M	109.9M	98.9M	118.1M	118.6M	134.4M	127.5M	128.6M	131.2M
Short-term debt	5.6M	5.9M	5.9M	6.2M	6.3M	6.5M	6.9M	7.1M	1.2M	1.4M	1.4M	1.6M
Total current liabilities	218.8M	221.6M	212.3M	212.4M	258M	220.3M	235.3M	242.8M	290.3M	256M	233.3M	243.8M
Long-term debt	466.5M	472.6M	472.1M	471.8M	471.2M	470.7M	471.4M	472M	450.4M	450.9M	451M	451.3M
Total liabilities	793.5M	797.6M	784.9M	777M	825.8M	785.1M	797M	801.4M	857.2M	828.6M	814M	832.9M
Shareholders' equity	711.5M	731.2M	754.5M	791.6M	810.1M	834.1M	873.6M	929M	981.7M	1B	1.1B	1.1B
Total debt	472.1M	478.5M	478M	478M	477.5M	477.2M	478.3M	479.1M	451.6M	452.3M	452.4M	452.9M
Net debt	311.8M	261.8M	298.8M	234.7M	167.6M	139M	149.1M	107.1M	20.1M	-7.3M	31.4M	-42.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	45.1M	54.3M	105.6M	63.8M	72M	70.4M	76.6M	85.5M	115.9M	191.7M
Depreciation & amortization	39.5M	41.9M	43.7M	53M	57.8M	59.6M	60.5M	62.5M	66.2M	46.9M
Stock-based compensation	4.7M	6M	5.2M	4.3M	5.3M	8.1M	8.7M	8.5M	9M	10.7M
Change in working capital	7M	-41.6M	35.3M	-56.2M	11.1M	4.7M	-97.1M	-34.8M	40.5M	-27.2M
Operating cash flow	93.5M	56M	149.9M	68.6M	157.1M	138.8M	46.5M	108.2M	211.1M	219.3M
Capital expenditure	—	—	—	—	—	—	—	—	—	-47.3M
Investing cash flow	300K	-25.7M	7.8M	-125.2M	200K	-19M	-200K	5.5M	200K	-47.1M
Dividends paid	-16.1M	-24M	-30.1M	-32M	-33.1M	-34.8M	-36.5M	-38.1M	-39.9M	-41.9M
Share repurchases	-3.3M	-57.7M	-32.1M	-10M	-5M	-10M	-35M	-10M	-10M	-15M
Financing cash flow	-23.7M	-81.4M	-98.3M	-50.9M	-41.8M	-58.8M	-72M	-48.8M	-46M	-58.3M
Net change in cash	70.1M	-51.1M	59.4M	-107.5M	115.5M	61M	-25.7M	64.9M	165.3M	113.9M
Free cash flow	113.6M	-24.5M	77.4M	5.9M	72.6M	94M	-2.4M	61.4M	191.4M	172M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	17.2M	14.3M	44.3M	47.3M	10M	35.3M	51.3M	52.5M	52.6M	43.2M	59.1M	67.3M
Depreciation & amortization	16.4M	16.4M	16.5M	16.3M	17M	11.1M	11.3M	11.7M	12.8M	12.1M	12.4M	12.6M
Stock-based compensation	2.6M	2.6M	1.9M	2.5M	2M	2.5M	2.5M	2.3M	3.4M	3.5M	4.1M	2.9M
Change in working capital	27.1M	34.5M	-66.8M	24.3M	48.5M	1.3M	-51.2M	6.7M	16M	-7M	-100.1M	11.3M
Operating cash flow	55.8M	64.7M	-10.6M	81.7M	75.3M	49.9M	12.5M	67.4M	83.5M	61.2M	-12.8M	105.8M
Capital expenditure	—	—	—	—	—	—	—	-11.7M	-14.5M	-17.2M	-14.7M	-11.7M
Investing cash flow	400K	100K	0	0	100K	—	—	-11.7M	-14.4M	-17.1M	-14.7M	-10.6M
Dividends paid	-9.5M	-10M	-10M	-9.9M	-10M	-10.5M	-10.5M	-10.4M	-10.5M	-10.9M	-11M	-10.9M
Share repurchases	-10M	—	—	0	0	—	-5M	-10M	0	-5.5M	0	-10M
Financing cash flow	-19.6M	-11.3M	-10.1M	-9.3M	-5.3M	-13.1M	-13.8M	-20.3M	-11.1M	-19.6M	-10.9M	-21M
Net change in cash	36.6M	53.5M	-20.7M	72.4M	70.1M	36.8M	-1.3M	35.4M	58M	24.5M	-38.4M	74.2M
Free cash flow	41.3M	62.2M	-15.8M	75.1M	69.9M	42.2M	5.1M	55.7M	69M	44M	-27.5M	94.1M

Mueller Water Products Inc. Class A Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement