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MWA

Mueller Water Products, Inc.

MWA

Mueller Water Products, Inc. • NYSE
$24.24 ▼ -0.25% (-0.06)
Market Cap $3.79 B
52w High $28.58
52w Low $21.35
Dividend Yield 0.27%
P/E 19.87
Volume 398.23K
Outstanding Shares 156.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $380.8M ▲ $74.5M ▲ $52.6M ▲ 13.813% ▲ $0.34 $82.5M ▼
Q3-2025 $380.3M ▲ $72M ▲ $52.5M ▲ 13.805% ▼ $0.34 ▲ $88.5M ▲
Q2-2025 $364.3M ▲ $58.1M ▲ $51.3M ▲ 14.082% ▲ $0.33 ▲ $83.9M ▲
Q1-2025 $304.3M ▼ $55.6M ▼ $35.3M ▲ 11.6% ▲ $0.23 ▲ $61.6M ▲
Q4-2024 $348.2M $82.5M $10M 2.872% $-0.68 $47.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $431.5M ▲ $1.839B ▲ $857.2M ▲ $981.7M ▲
Q3-2025 $372M ▲ $1.73B ▲ $801.4M ▲ $929M ▲
Q2-2025 $329.2M ▼ $1.671B ▲ $797M ▲ $873.6M ▲
Q1-2025 $338.2M ▲ $1.619B ▼ $785.1M ▼ $834.1M ▲
Q4-2024 $309.9M $1.636B $825.8M $810.1M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $52.6M ▲ $83.5M ▲ $-14.4M ▼ $-11.1M ▲ $59.5M ▲ $69M ▲
Q3-2025 $52.5M ▲ $67.4M ▲ $-11.7M ▼ $-20.3M ▼ $42.8M ▲ $55.7M ▲
Q2-2025 $51.3M ▲ $14.3M ▼ $-9.1M ▲ $-13.8M ▼ $-9M ▼ $5.1M ▼
Q1-2025 $35.3M ▲ $54.1M ▼ $-11.9M ▲ $-13.1M ▼ $28.3M ▼ $42.2M ▼
Q4-2024 $10M $89.3M $-19.3M $-5.3M $66.6M $69.9M

Revenue by Products

Product Q1-2024Q2-2024Q4-2024Q3-2025
Mueller Co
Mueller Co
 $140.00M ▲$210.00M ▲$410.00M ▲$220.00M ▼
Mueller Technologies
Mueller Technologies
 $120.00M ▲$150.00M ▲$300.00M ▲$160.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Mueller’s income statement shows a steady climb in sales over the last few years, with revenue growing each year. Profitability has improved as well: gross profits have risen faster than sales, suggesting better pricing, mix, or cost control. Operating profit and net profit have both trended upward after a softer year in the middle of the period, pointing to improving efficiency. Earnings per share have grown strongly, which indicates that the business is converting growth into shareholder-level profits. Overall, the trend is of a mature industrial company becoming consistently more profitable, not just bigger.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid and gradually stronger. Total assets have inched higher, supported by a noticeable build in cash, which gives the company more financial flexibility. Debt has crept up only slightly while equity has grown, meaning the company is leaning a bit less on borrowing over time and a bit more on its own capital base. This combination suggests a reasonably balanced financial structure, with no obvious sign of over-extension. The picture is of a steady industrial balance sheet that’s been quietly improving in quality.

Cash Flow

Cash Flow Cash generation from the core business has strengthened meaningfully after a weaker patch a few years ago. Operating cash flow has improved to comfortably cover investment spending, which has stayed fairly stable. As a result, free cash flow has moved from being tight to being clearly positive, giving the company more room to fund growth, reduce risk, or return capital if it chooses. The main story is better conversion of accounting profits into actual cash in the bank, which tends to increase financial resilience.

Competitive Edge

Competitive Edge Mueller holds a strong position in the North American water infrastructure market, built over more than a century and a half. Its products are deeply embedded in water systems across major cities, creating a large installed base that encourages repeat business and long-term relationships with municipalities and utilities. The brand is well known for reliability, and the company’s broad product range lets customers source many needs from a single partner. Its distribution network and focus on North America further reinforce this position. Key risks include exposure to government and municipal budgets, competitive pressure in smart water technologies, and reliance on a relatively concentrated geographic market.

Innovation and R&D

Innovation and R&D Innovation is a clear focus, especially around “smart water” technologies. Mueller’s Intelligent Water Technology platform and Sentryx software connect meters, valves, hydrants, and sensors to give utilities real-time insight into leaks, pressure, and water quality. Products like advanced meters, acoustic leak detection, and smart hydrants move the company from being just a hardware supplier toward being a data and solutions partner. The company also leans on acquisitions and targeted R&D to expand its offerings and add digital capabilities, while tying this to sustainability goals like large-scale water loss detection and lead-free products. The main question for the future is how quickly utilities adopt these smart solutions and how successfully Mueller can scale them.

Summary

Mueller Water Products looks like a mature, infrastructure-focused industrial company that has been steadily improving its financial profile while leaning into digital and smart-technology offerings. Revenue and profits have grown consistently, margins have widened, and cash generation has become healthier, all supported by a reasonably conservative balance sheet. Its long-standing reputation, large installed base, and strong distribution in North America give it a durable competitive footing, especially in traditional water hardware. At the same time, the push into intelligent water technology, leak detection, and data platforms creates potential for higher-value, more recurring business, but also brings execution and technology-adoption risks. Overall, the company appears to be transitioning from a traditional equipment maker to a more integrated infrastructure and intelligence solutions provider, with financial trends currently moving in a favorable direction.

NEWS

November 7, 2025 · 4:16 PM UTC

Mueller Water Products to Participate in the Baird 2025 Global Industrial Conference

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November 6, 2025 · 4:18 PM UTC

Mueller Water Products Initiates CEO Succession Plan

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November 6, 2025 · 4:14 PM UTC

Mueller Water Products Reports Record Fourth Quarter and Full Year 2025 Results; Introduces Fiscal 2026 Guidance

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October 31, 2025 · 3:54 PM UTC

Mueller Water Products Announces Dates for Fourth Quarter and Full Year 2025 Earnings Release and Conference Call

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October 27, 2025 · 8:30 AM UTC

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