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MUELLER WATER PRODUCTS

MWA Industrials Specialty Industrial Machinery

MUELLER WATER PRODUCTS’s revenue for fiscal 2025 (year ended September 2025) was $1.4 billion, up 8.75% from fiscal 2024.

Revenue
+4.10%
EPS
+26.5%
Free cash flow
+70.9%
Total debt
+0.47%

Quarter to June 2026, against a year earlier

24.53 0.49 +2.04%
Market cap
$3.9B
P/E
17.2×
Fwd P/E
15.6×
Dividend yield
1.14%
F-score
7/9
Altman Z
4.39
Beneish M
−2.50
Dividend safety
89/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.86
Sold, $m 4.84
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 1 1 — — 1 — 1 — — 1 —
Sell 2 — 1 1 — 1 — — 3 2 — —
Insider Ownership 0.84%

Capital & Financial Ratios $m

Size
Market Cap 3,850.00
Revenue ttm 1,479.30
Net income ttm 222.20
Free cash flow ttm 180.90
Net debt Q (42.40)
Valuation
P/E 17.15
Forward P/E 15.60
Price / sales 2.59
Forward P/S Powerpack
Price / FCF 23.75
Price / book 3.42
Financial health
Current ratio Q 4.64 (at or above 1.5: strong)
Debt / equity Q 0.40 (at or below 0.5: strong)
Interest coverage Q 115.14
Growth
Revenue growth Q +4.10% (above 0%: growing)
Operating income growth Q +9.36% (above 0%: growing)
EPS, this year +0.43%
EPS, next year A +5.69%
Revenue, next year A +3.10%
EPS, past 5 yrs +22.08% (at or above 15%: strong)
EPS, next 5 yrs A +3.68%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.6×, against a ten-year median of 2.3×; over the ten years it ranged from 1.5× in 2022 to 4.4× in 2016.
P/E against its own 10 years 17.46%
10-year low 10-year high
P/S against its own 10 years 76.53%
10-year low 10-year high
P/B against its own 10 years 50.90%
10-year low 10-year high
EV/Sales against its own 10 years 68.39%
10-year low 10-year high
EV/FCF against its own 10 years 24.12%
10-year low 10-year high

Dividends raised every year since 2018

Yield
1.14%
Annual rate
0.28
Payout ratio
19.9%
Growth, 2018–26
+4.75%/yr
  1. 0.20 ’18
  2. 0.21 ’19 +2
  3. 0.21 ’20 +4
  4. 0.22 ’21 +5
  5. 0.24 ’22 +5
  6. 0.25 ’23 +5
  7. 0.26 ’24 +5
  8. 0.27 ’25 +5
  9. 0.29 ’26 +7
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 160 310 432 495
Receivables 217 209 212 203
Inventory 298 302 329 380
Other 32 38 57 52
707 858 1,029 1,130
2023 2024 2025 Q'26
Payables 103 110 134 131
ST’ Debt 1 1 1 2
Other 115 147 155 111
219 258 290 244

Compound Annual Growth %

10y 5y 3y
Sales 6.07% 8.20% 4.65%
Cash Flow 14.21% 9.34% 61.25%
Earnings 20.02% 21.63% 35.77%
Book Value 10.32% 8.91% 13.62%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 0.39 Actual 0.38

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 0.27 0.29 Beat by 0.02
Q2 FY26 0.38 0.40 Beat by 0.02
Q3 FY26 0.39 0.50 Beat by 0.11
Q4 FY26 0.39 0.38 Miss by 0.01
Q1 FY27 0.30 — Reports 3 February 2027

EPS $

Dec Mar Jun Sep Year
’26 0.27 0.38 0.43 — —
’25 0.22 0.33 0.33 0.33 1.22
’24 0.09 0.28 0.30 0.06 0.74
’23 0.14 0.14 0.16 0.11 0.55
’22 0.12 0.15 0.17 0.05 0.48
’21 0.11 0.13 0.09 0.12 0.44
’20 0.06 0.15 0.07 0.17 0.45
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 318 384 396 — —
’25 304 364 380 381 1,430
’24 256 353 357 348 1,315
’23 315 333 327 301 1,276
’22 272 311 333 331 1,247
’21 237 268 311 296 1,111
’20 213 258 229 265 964
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 61 (13) 106 — —
’25 54 14 67 84 219
’24 68 (6) 87 89 239
’23 (6) (16) 75 57 109
’22 20 (19) 20 32 52
’21 34 29 60 33 157
’20 (12) 9 81 63 140
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 44 (27) 95 — —
’25 42 5 56 69 172
’24 62 (16) 75 70 192
’23 (11) (26) 63 42 67
’22 9 (34) 9 14 (2)
’21 19 14 45 17 95
’20 (27) (13) 67 46 73
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 801 826 916 968 964 1,111 1,247 1,276 1,315 1,430 1,479 +6.7% 1,474 1,513 1,524 +2.2%
Gross margin, % 33.59 32.43 31.65 33.15 34.04 32.27 29.20 29.75 34.91 36.14 37.86 +2.6 pt
EBT 69 79 96 82 94 95 99 109 163 254 283 +15.5%
EBT margin, % 8.66 9.50 10.45 8.48 9.76 8.54 7.90 8.54 12.43 17.78 19.13 +9.1 pt
Net income 64 123 106 64 72 70 77 86 116 192 222 +13.0%
Per share, $
Per share, $ Revenue 4.96 5.16 5.79 6.13 6.11 7.01 7.93 8.16 8.43 9.14 9.46 +7.0%
Earnings 0.40 0.77 0.67 0.40 0.46 0.44 0.49 0.55 0.74 1.23 1.43 +13.3%
Cash flow 0.71 0.37 0.84 0.59 0.89 0.99 0.33 0.70 1.53 1.40 1.52 +7.9%
Capex (0.19) (0.25) (0.30) (0.53) (0.43) (0.39) (0.35) (0.27) (0.30) (0.30) (0.36) +5.0%
Free cash flow 0.52 0.12 0.54 0.05 0.46 0.60 (0.02) 0.43 1.23 1.10 1.16 +8.8%
Book value 2.60 3.06 3.57 3.75 4.06 4.39 4.25 4.55 5.20 6.28 7.17 +10.3%
Shares, m 161 160 158 158 158 158 157 156 156 156 156 (0.3%)
Valuation, ×
Valuation, × P/E 31.38 16.71 16.97 27.41 22.59 33.82 20.96 22.87 29.73 20.58 17.15 24.3
P/S 2.53 2.49 1.96 1.83 1.70 2.17 1.30 1.54 2.57 2.79 2.59 2.1
P/B 4.83 4.21 3.18 2.99 2.56 3.47 2.42 2.76 4.18 4.07 3.42 3.5
EV/Sales 2.89 2.64 2.07 2.11 1.95 2.37 1.54 1.77 2.68 2.81 2.56 2.3
EV/FCF 27.78 110.63 22.26 249.18 25.80 27.77 (87.53) 47.54 20.47 26.27 23.49 47.0
Cash, $m
Cash, $m Operating cash flow 115 59 133 93 140 157 52 109 239 219 238 +7.5%
Capex (31) (40) (48) (84) (67) (62) (55) (42) (47) (47) (57) +4.7%
Free cash flow 83 20 85 8 73 95 (2) 67 192 172 181 +8.4%
Balance, $m
Balance, $m Working capital 427 529 518 388 426 434 439 488 600 739 887 +6.3%
Net debt 289 119 98 270 239 219 300 287 140 20 (42) (25.6%)
Shareholders’ equity 420 490 565 592 641 695 669 712 810 982 1,120 +9.9%
Returns, %
Returns, % ROA 5.09 9.71 8.28 4.85 5.27 4.83 5.08 5.69 7.38 11.03 12.06 +5.9 pt
ROIC 9.89 10.49 11.48 9.01 8.30 9.00 7.19 7.97 11.96 16.26 16.66 +6.4 pt
ROE 16.23 27.13 20.03 11.03 11.68 10.54 11.23 12.38 15.23 21.40 21.68 +5.2 pt
People
People Employees 3,900 2,600 2,700 3,100 3,100 3,400 3,600 3,200 3,400 3,500 — (1.2%)
Revenue/emp, $m 0.21 0.32 0.34 0.31 0.31 0.33 0.35 0.40 0.39 0.41 — +7.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

MUELLER WATER PRODUCTS vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MIDD The Middleby Corporation $5.9B — (loss-making) 21.5× +9.88% (above 0%: growing) −39.80% (below 0%: shrinking) −544.63% (below 0%: shrinking) 38.27% 16.87% Compare
NPO Enpro Inc. $5.5B 87.4× 44.4× +22.40% (above 0%: growing) +84.55% (above 0%: growing) +30.13% (above 0%: growing) 43.67% 18.04% Compare
CSW CSW Industrials, Inc. $4.5B 35.2× 30.1× +30.51% (above 0%: growing) +21.47% (above 0%: growing) +56.64% (above 0%: growing) 42.03% 20.90% Compare
FELE Franklin Electric Co., Inc. $4.2B 21.3× 21.1× +8.92% (above 0%: growing) +273.30% (above 0%: growing) −28.37% (below 0%: shrinking) 35.36% 13.65% Compare
MIR Mirion Technologies, Inc. $4.2B 146× 113× +24.52% (above 0%: growing) +222.00% (above 0%: growing) +255.64% (above 0%: growing) 47.34% 6.19% Compare
MWA MUELLER WATER PRODUCTS $3.9B 17.2× 15.6× +4.10% (above 0%: growing) +26.47% (above 0%: growing) +70.92% (above 0%: growing) 39.35% 20.36%
XE X-Energy, Inc. $3.7B — — — n/m — 100.00% (201.52%) Compare
KAI Kadant Inc $3.5B 30.0× 26.4× +15.32% (above 0%: growing) +28.59% (above 0%: growing) +15.90% (above 0%: growing) 44.73% 17.10% Compare
SXI Standex International Corporation $2.8B 24.8× 25.6× +6.96% (above 0%: growing) +58.73% (above 0%: growing) −13.24% (below 0%: shrinking) 44.37% 17.38% Compare
Median of peers $4.2B 32.6× 26.4× +15.32% +58.73% +15.90% 44.02% 16.99%

All 79 Specialty Industrial Machinery stocks →

Pay and ownership Proxy statement filed 19 December 2025

Ownership

Directors and executive officers, together 1.10%
BlackRock, Inc. 16.20%
The Vanguard Group, Inc. 12.70%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

MUELLER WATER PRODUCTS (MWA) Latest News

5 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com
Impact 3 · · Moby

4 Nov

Impact 3 · · StockStory
Impact 3 · · GlobeNewswire
Impact 3 · · GlobeNewswire

28 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

23 Oct

Impact 3 · · GlobeNewswire
Impact 3 · · Zacks

22 Oct

Impact 4 · · StockStory
Impact 3 · · GlobeNewswire

20 Oct

Impact 3 · · StockStory

16 Oct

Impact 3 · · StockStory

13 Oct

Impact 3 · · cfodive.com

12 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · Investing.com

2 Oct

Impact 3 · · StockStory

21 Sep

Impact 3 ·

14 Sep

Impact 3 ·

31 Aug

Impact 3 ·

12 Aug

Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

8 Aug

Impact 4 ·
Impact 3 · · MarketBeat transcript

7 Aug

Impact 3 ·

6 Aug

Impact 4 ·
Impact 3 · · Moby transcript

5 Aug

Impact 3 ·
Impact 3 ·

MWA metrics, ten years each

stockrow.com/MWA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com