Saturday 17 October 2026
Export MWA’s income statement to Excel — free account
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. In the quarter to June 2026, revenue grew 4.10%, EPS grew 26.5%, free cash flow grew 70.9% and total debt was flat, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five; insiders bought in the last twelve months.
21.77
0.12
+0.55%
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| Sep '16 | Sep '17 | Sep '18 | Sep '19 | Sep '20 | Sep '21 | Sep '22 | Sep '23 | Sep '24 | Sep '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
31.38 | 16.71 | 16.97 | 27.41 | 22.59 | 33.82 | 20.96 | 22.87 | 29.73 | 20.58 |
Piotroski F-Score |
— | 7 | 6 | 7 | 8 | 5 | 6 | 8 | 8 | 7 |
Altman Z-Score |
1.55 | 1.96 | 2.08 | 1.98 | 1.92 | 2.52 | 2.07 | 2.57 | 3.76 | 4.39 |
P/S ratio |
2.53 | 2.49 | 1.96 | 1.83 | 1.70 | 2.17 | 1.30 | 1.54 | 2.57 | 2.79 |
Altman Z″-Score (non-manufacturers) |
0.54 | 1.49 | 1.94 | 1.45 | 1.79 | 1.96 | 2.04 | 2.59 | 3.45 | 4.48 |
P/FCF ratio |
24.30 | 104.59 | 21.11 | 216.30 | 22.52 | 25.46 | 0.00 | 41.48 | 19.66 | 26.14 |
P/Operating CF |
33.68 | 60.60 | 28.55 | 23.74 | 26.23 | 72.18 | 50.83 | 34.80 | 37.88 | 47.80 |
Beneish M-Score |
(3.01) | (2.43) | (2.44) | (2.47) | (2.68) | (2.57) | (2.32) | (2.62) | (2.99) | (2.50) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 89 |
P/B ratio |
4.83 | 4.21 | 3.18 | 2.99 | 2.56 | 3.47 | 2.42 | 2.76 | 4.18 | 4.07 |
Price to Tangible BV |
0.00 | 41.05 | 12.44 | 28.20 | 12.42 | 12.87 | 7.72 | 6.93 | 8.06 | 6.82 |
EV/Sales |
2.89 | 2.64 | 2.07 | 2.11 | 1.95 | 2.37 | 1.54 | 1.77 | 2.68 | 2.81 |
EV/EBITDA |
15.25 | 15.13 | 11.47 | 11.52 | 10.76 | 13.75 | 11.14 | 11.87 | 14.21 | 13.05 |
EV/Operating CF |
20.21 | 36.69 | 14.25 | 22.09 | 13.39 | 16.79 | 36.65 | 20.67 | 14.75 | 18.29 |
EV/FCF |
27.78 | 110.63 | 22.26 | 249.18 | 25.80 | 27.77 | (87.53) | 47.54 | 20.47 | 26.27 |
Quick Ratio |
1.76 | 3.58 | 3.06 | 1.96 | 2.51 | 2.00 | 1.55 | 1.72 | 2.01 | 2.22 |
Current Ratio |
3.30 | 4.73 | 4.10 | 3.18 | 3.75 | 2.97 | 2.82 | 3.23 | 3.33 | 3.54 |
Net Debt/EBITDA |
1.91 | 0.83 | 0.59 | 1.52 | 1.37 | 1.15 | 1.75 | 1.51 | 0.56 | 0.07 |
Debt/Assets |
37.83% | 38.19% | 34.45% | 33.37% | 32.09% | 29.44% | 29.83% | 29.73% | 27.48% | 24.56% |
Debt/Equity |
1.15 | 0.98 | 0.79 | 0.75 | 0.70 | 0.64 | 0.67 | 0.63 | 0.55 | 0.46 |
Asset Turnover |
0.64 | 0.65 | 0.72 | 0.74 | 0.71 | 0.76 | 0.83 | 0.85 | 0.84 | 0.82 |
Operating CF/Net income |
1.79 | 0.48 | 1.26 | 1.45 | 1.95 | 2.23 | 0.68 | 1.27 | 2.06 | 1.14 |
Capex/Depreciation |
(0.79) | (0.95) | (1.10) | (1.59) | (1.17) | (1.04) | (0.90) | (0.67) | (0.71) | (1.00) |
Interest Coverage |
4.75 | 4.60 | 5.82 | 6.28 | 4.58 | 5.63 | 6.60 | 8.67 | 14.31 | 39.48 |
| 16.23% | 27.13% | 20.03% | 11.03% | 11.68% | 10.54% | 11.23% | 12.38% | 15.23% | 21.40% | |
| 5.09% | 9.71% | 8.28% | 4.85% | 5.27% | 4.83% | 5.08% | 5.69% | 7.38% | 11.03% | |
ROIC |
9.89% | 10.49% | 11.48% | 9.01% | 8.30% | 9.00% | 7.19% | 7.97% | 11.96% | 16.26% |
Return on Tangible Assets |
11.95% | 18.94% | 15.78% | 10.54% | 10.59% | 9.82% | 10.34% | 10.69% | 12.61% | 17.84% |
Average Days of Receivables |
60.09 | 64.21 | 65.47 | 65.16 | 68.45 | 69.71 | 66.71 | 62.12 | 58.00 | 54.10 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
18.67% | 18.81% | 18.20% | 18.87% | 20.58% | 19.69% | 19.14% | 18.96% | 18.65% | 17.30% |
Intangible Assets out of Total Assets |
0.34 | 0.35 | 0.33 | 0.40 | 0.36 | 0.33 | 0.31 | 0.28 | 0.24 | 0.22 |
Share Based Compensation of Revenue |
0.59% | 0.73% | 0.57% | 0.44% | 0.55% | 0.73% | 0.70% | 0.67% | 0.68% | 0.75% |
Graham Net Nets |
(0.12) | (0.05) | (0.02) | (0.10) | (0.11) | (0.07) | (0.09) | (0.04) | 0.01 | 0.04 |
Graham Number |
4.84 | 7.28 | 7.34 | 5.88 | 6.48 | 6.66 | 6.85 | 7.51 | 9.24 | 13.23 |
Earnings Yield |
3.19% | 5.98% | 5.89% | 3.65% | 4.43% | 2.96% | 4.77% | 4.37% | 3.36% | 4.86% |
Free Cash Flow Yield |
4.11% | 0.96% | 4.74% | 0.46% | 4.44% | 3.93% | (1.35%) | 2.41% | 5.09% | 3.83% |
Revenue per Share |
4.96 | 5.16 | 5.79 | 6.13 | 6.11 | 7.01 | 7.93 | 8.16 | 8.43 | 9.14 |
Operating CF per Share |
0.71 | 0.37 | 0.84 | 0.59 | 0.89 | 0.99 | 0.33 | 0.70 | 1.53 | 1.40 |
Capex per Share |
(0.19) | (0.25) | (0.30) | (0.53) | (0.43) | (0.39) | (0.35) | (0.27) | (0.30) | (0.30) |
Free Cash Flow per Share |
0.52 | 0.12 | 0.54 | 0.05 | 0.46 | 0.60 | (0.02) | 0.43 | 1.23 | 1.10 |
Cash per Share |
1.21 | 2.26 | 2.19 | 1.12 | 1.32 | 1.44 | 0.93 | 1.03 | 1.99 | 2.76 |
Shareholders Equity per Share |
2.60 | 3.06 | 3.57 | 3.75 | 4.06 | 4.39 | 4.25 | 4.55 | 5.20 | 6.28 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
2.60 | 3.06 | 3.57 | 3.75 | 4.06 | 4.39 | 4.25 | 4.55 | 5.20 | 6.28 |
Free Cash Flow |
83.30 | 19.70 | 85.20 | 8.20 | 72.80 | 94.70 | (2.40) | 66.90 | 191.60 | 172.20 |
Working Capital |
426.50 | 528.70 | 518.40 | 388.40 | 426.20 | 433.60 | 439.00 | 488.00 | 600.40 | 738.60 |
Capital Expenditures |
(31.20) | (39.70) | (47.90) | (84.30) | (67.50) | (62.00) | (54.70) | (42.10) | (47.20) | (47.10) |
Net Current Asset Value |
(248.80) | (98.50) | (41.60) | (178.10) | (173.10) | (169.40) | (148.80) | (86.70) | 32.60 | 171.70 |
EV/EBIT |
20.62 | 21.35 | 15.58 | 16.44 | 16.08 | 19.97 | 17.18 | 17.69 | 19.39 | 15.39 |
Capex to Sales |
0.04 | 0.05 | 0.05 | 0.09 | 0.07 | 0.06 | 0.04 | 0.03 | 0.04 | 0.03 |
Price to Operating Income |
18.04 | 20.18 | 14.78 | 14.27 | 14.04 | 18.31 | 14.48 | 15.43 | 18.62 | 15.32 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.36 | 0.34 | 0.29 | 0.24 | 0.23 | 0.21 | 0.20 | 0.20 | 0.21 | 0.14 |
Cash ROIC |
7.58% | 1.48% | 6.28% | 0.67% | 5.61% | 6.92% | (0.19%) | 5.07% | 12.21% | 9.23% |
Accounts Receivable Turnover |
5.21 | 5.96 | 5.92 | 5.74 | 5.45 | 5.65 | 5.67 | 5.73 | 6.17 | 6.80 |
Accounts Payable Turnover |
6.17 | 7.15 | 7.26 | 7.41 | 8.37 | 9.45 | 8.22 | 7.94 | 8.04 | 7.47 |
Inventory Turnover |
3.04 | 4.14 | 4.24 | 3.72 | 3.59 | 4.33 | 3.81 | 3.11 | 2.85 | 2.90 |
Average Days of Payables |
50.59 | 53.96 | 52.47 | 47.72 | 38.63 | 44.62 | 50.76 | 41.91 | 46.88 | 53.73 |
Days of Inventory on Hand |
89.72 | 90.84 | 91.29 | 107.96 | 93.27 | 89.59 | 115.19 | 121.33 | 128.69 | 131.41 |
Average Receivables |
153.55 | 138.55 | 154.80 | 168.55 | 176.80 | 196.50 | 220.10 | 222.55 | 213.00 | 210.40 |
Average Payables |
86.20 | 78.10 | 86.25 | 87.30 | 75.95 | 79.65 | 107.40 | 112.85 | 106.40 | 122.15 |
Average Inventory |
174.90 | 134.80 | 147.75 | 174.00 | 176.95 | 173.60 | 231.70 | 288.30 | 299.80 | 315.20 |
Average Assets |
1,255.20 | 1,269.45 | 1,275.10 | 1,314.60 | 1,366.15 | 1,456.50 | 1,508.05 | 1,501.55 | 1,570.45 | 1,737.40 |
Average Common Equity |
393.65 | 454.50 | 527.15 | 578.55 | 616.50 | 667.80 | 682.10 | 690.40 | 760.80 | 895.90 |
Columns are period end dates