Mueller Water Products, Inc. MWA

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsUnited States of America

Last close 23.57 USD on Nov 3, 2026, −0.3% year to date

Quant rating

Quant rating B Rank 130 of 486 in Industrials

Growth C 320 of 486
Valuation B 96 of 486
Quality A 39 of 486
Revisions C 264 of 486
Momentum C 250 of 486

Wall Street consensus Hold (2.86)Average target 27.46 USD +16.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.7B
Enterprise value: 3.6B
52-week range: 20.92 – 30.87
3-year range: 12.57 – 30.87
Dividend yield: 1.33%
Beta (5 years): 0.95
Shares outstanding: 156M
Next earnings: Nov 4, 2026

About the company

Mueller Water Products, Inc. is a manufacturer and marketer of products and solutions used in the transmission, distribution and measurement of water in North America. The Company operates business through two segments: Water Flow Solutions and Water Management Solutions. The Water Flow Solutions segment includes iron gate valves, specialty valves, and service brass products. The Water Management Solutions segment includes fire hydrants, repair and installation, natural gas, metering, leak detection, as well as pressure management and control products and solutions. Its portfolio includes engineered valves, fire hydrants, pipe connection and repair products, metering products, leak detection, pipe condition assessment, pressure management products, and software that provides critical water system data. Its brands include Echologics, Pratt, Hydro Gate, HYMAX, i2O, Krausz, Milliken, Mueller Canada, Pratt Industrial, Singer, and others.

Growth and profitability fiscal year ends September 30

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,430	1,315	1,276	1,247	1,111	–
Revenue growth	8.7%	3.1%	2.3%	12.3%	15.2%	8.2%
EPS (basic, normalized)	1.31	0.96	0.63	0.58	0.56	–
EPS growth	36.5%	52.4%	8.6%	3.6%	–	–
Gross margin	36.4%	34.9%	29.7%	29.2%	32.3%	32.5%
Net margin	13.4%	8.8%	6.7%	6.1%	6.3%	8.3%
ROE	21.4%	15.2%	12.4%	11.2%	10.5%	14.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	495
Current ratio	4.64x
Long-term debt (mil)	451
Net debt (mil)	−42.4
Total equity (mil)	1,120
Net debt / equity	−0.04x
Net debt / EBITDA	−0.13x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,430	+8.7%	2.5x	326	+19.9%	11.2x	1.31	+36.5%	18.0x
2026	1,476	+3.2%	2.5x	367	+12.5%	9.9x	1.55	+18.3%	15.2x
2027	1,514	+2.6%	2.4x	383	+4.5%	9.5x	1.57	+1.6%	15.0x
2028	1,537	+1.5%	2.4x	394	+2.8%	9.2x	1.58	+0.5%	14.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,476	0.0%	−0.6%	−0.6%	1.55	−0.2%	+5.0%	+5.2%
2027	1,514	−0.3%	−1.9%	−2.2%	1.57	−0.7%	+0.2%	−0.3%
2028	1,537	0.0%	−1.9%	−2.6%	1.58	0.0%	−2.1%	−4.0%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	353	357	348	304	364	380	381	318	384	396
Sales mean (mil)	300	330	325	290	352	367	362	315	381	391
Surprise	+18.0%	+8.2%	+7.2%	+4.9%	+3.4%	+3.5%	+5.1%	+1.1%	+1.0%	+1.2%
EPS reported	0.30	0.32	0.22	0.25	0.34	0.34	0.38	0.29	0.40	0.50
EPS mean	0.14	0.22	0.21	0.19	0.31	0.34	0.34	0.26	0.37	0.39
Surprise	+106.9%	+44.4%	+2.3%	+29.3%	+9.7%	+0.5%	+12.3%	+10.1%	+7.5%	+27.7%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
MWA Mueller Water Products, Inc.	3.7B	−0.13x	13.4%	3.28x	15.2x	15.0x	9.9x	9.5x
EMR Emerson Electric Co	92.8B	2.13x	12.7%	4.55x	25.4x	22.9x	18.9x	17.6x
AME AMETEK Inc	57.0B	2.55x	20.0%	5.06x	29.4x	26.3x	21.8x	18.6x
IR Ingersoll Rand Inc.	32.5B	1.65x	7.6%	3.09x	23.3x	21.5x	16.7x	15.5x
DOV Dover Corporation	28.4B	0.78x	13.6%	3.72x	19.9x	18.1x	14.6x	13.4x
XYL Xylem Inc	22.1B	1.21x	10.6%	2.16x	17.7x	16.5x	11.9x	11.2x
Mean		1.36x	13.0%	3.64x	21.8x	20.0x	15.7x	14.3x
Median		1.43x	13.0%	3.50x	21.6x	19.8x	15.7x	14.5x

Technical analysis

1M+8.8%
3M−8.4%
1Y−7.3%
3Y+87.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Mueller Water Products, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,430	1,315	1,276	1,247	1,111	964
Cost of revenue	909	856	896	883	752	636
Gross profit	521	459	380	364	358	328
Selling, general & administrative expenses	227	225	216	214	202	183
Research & development	19.9	20.5	25.9	24.5	17.1	15.0
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	12.9	32.1	10.2	14.0	24.7	13.2
Other operating expenses	0	0	0	0	0	0
Operating income	261	182	127	112	115	117
Net interest income (expense)	−6.6	−12.7	−14.7	−16.9	−23.4	−25.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0.2	−5.6	−3.7	3.9	3.3	3.0
Net income before taxes	254	163	109	98.6	94.9	94.1
Provision for taxes	62.5	47.5	23.5	22.0	24.5	22.1
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	192	116	85.5	76.6	70.4	72.0
Extraordinary items	–	–	0	0	0	0
Net income	192	116	85.5	76.6	70.4	72.0
EBIT, normalized	274	214	138	126	140	130
EBITDA, normalized	320	280	200	186	200	188
Basic EPS, normalized	1.31	0.96	0.63	0.58	0.56	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Mueller Water Products, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	432	310	160	146	228	209
Receivables	212	213	220	230	223	195
Total inventory	329	302	298	279	185	162
Prepaid expenses	20.8	17.2	17.8	14.6	12.8	10.9
Other current assets	36.0	16.5	11.2	9.8	5.6	4.1
Total current assets	1,029	858	707	680	654	581
Property, plant & equipment	363	346	335	328	310	279
Goodwill	89.2	80.7	93.7	98.6	115	99.8
Intangibles	307	310	334	361	392	409
Long-term investments	–	–	–	–	–	–
Note receivable	–	1.8	1.8	1.7	1.8	1.8
Other long-term assets	50.5	39.6	33.4	29.0	44.4	23.9
Total assets	1,839	1,636	1,505	1,498	1,518	1,395
Liabilities
Accounts payable	134	110	103	123	92.0	67.3
Payable/accrued	–	–	–	–	–	–
Accrued expenses	67.7	77.2	50.0	58.9	61.8	50.9
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	1.2	0.8	0.7	0.8	1.0	1.1
Other current liabilities	87.0	70.1	65.2	58.5	65.3	35.7
Total current liabilities	290	258	219	241	220	155
Long-term debt	450	449	447	446	446	446
Minority interest	–	–	–	–	–	0
Other liabilities	116	119	128	142	157	153
Total liabilities	857	826	794	829	823	754
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1.6	1.6	1.6	1.6	1.6	1.6
Additional paid-in capital	1,159	1,205	1,240	1,280	1,342	1,378
Retained earnings (accumulated deficit)	−174	−366	−482	−567	−644	−714
Treasury stock	–	–	–	–	–	–
Other equity	−4.6	−30.8	−48.7	−44.6	−5.0	−24.7
Total equity	982	810	712	669	695	641
Total liabilities & shareholders' equity	1,839	1,636	1,505	1,498	1,518	1,395

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Mueller Water Products, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	192	116	85.5	76.6	70.4	72.0
Depreciation, depletion & amortization	46.9	66.2	62.5	60.5	59.6	57.8
Deferred taxes	−7.0	−21.5	−14.4	−3.5	−5.3	7.2
Non-cash items	14.9	37.7	10.2	15.8	27.3	16.1
Changes in working capital	−27.2	40.5	−34.8	−97.1	4.7	−12.8
Cash from operations	219	239	109	52.3	157	140
Investing activities
Capital expenditures	−47.3	−47.4	−47.6	−54.7	−62.7	−67.7
Other investing cash flows	0.2	0.2	5.5	−0.2	−19.0	0.2
Cash from investing	−47.1	−47.2	−42.1	−54.9	−81.7	−67.5
Financing activities
Financing cash flow items	−4.8	−2.9	−3.4	−2.5	−3.5	−6.8
Cash dividends paid	−41.9	−39.9	−38.1	−36.5	−34.8	−33.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−11.6	−3.2	−7.3	−33.0	−20.5	−1.5
Cash from financing	−58.3	−46.0	−48.8	−72.0	−58.8	−41.4
Foreign exchange effects	7.7	4.0	−4.3	−6.4	2.4	0.8
Net change in cash	122	150	13.8	−81.0	18.6	32.2
Free cash flow	172	191	61.4	−2.4	94.0	72.6

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.