15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 8.2% per year over the past 5 years.
Net income has grown faster than revenue (21.6% vs 8.2% per year).
Operating margin has expanded, at 18.2% in the latest year.
Free cash flow has grown 18.8% per year over the past 5 years.
Financial health
Total debt ($452M) exceeds cash ($432M); net debt is $20M.
Total debt has grown slower than revenue (-0.0% vs 8.2% per year).
Operating income covered interest expense 13× in the latest year, up from 4.4× 5 years ago.
Total debt is 1.5× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 21.9% of earnings and 24.4% of free cash flow.
The dividend has grown 4.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.4B
$192M
36.1%
18.2%
19.5%
10.4%
$172M
$452M
$432M
2024
$1.3B
$116M
34.9%
13.8%
14.3%
7.1%
$191M
$450M
$310M
2023
$1.3B
$86M
29.7%
10.0%
12.0%
5.7%
$61M
$447M
$160M
2022
$1.2B
$77M
29.2%
8.9%
11.4%
5.1%
-$2M
$452M
$147M
2021
$1.1B
$70M
32.3%
11.9%
10.1%
4.6%
$94M
$452M
$228M
2020
$964M
$72M
34.0%
12.1%
11.2%
5.2%
$73M
$453M
$209M
2019
$968M
$64M
33.2%
12.8%
10.8%
4.8%
$6M
$452M
$177M
2018
$916M
$106M
31.6%
13.3%
18.7%
8.2%
$77M
$452M
—
2017
$826M
$123M
32.4%
12.4%
25.2%
9.8%
—
$487M
—
2016
$801M
$64M
33.6%
14.0%
15.2%
5.0%
—
$491M
—
2015
—
$31M
—
—
8.4%
2.5%
—
$496M
—
2014
—
$56M
—
—
15.8%
4.2%
—
$546M
—
2013
$8M
$41M
4176.0%
1297.3%
12.4%
3.2%
—
$601M
—
2012
$7M
-$108M
3663.5%
866.2%
-46.9%
-8.7%
—
$623M
—
2011
$9M
-$38M
2819.3%
598.9%
-10.1%
-2.6%
$17M
$678M
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$396M
$67M
39.4%
20.4%
6.0%
3.4%
$94M
$453M
$495M
Mar '26
$384M
$59M
37.6%
20.9%
5.5%
3.1%
-$28M
$452M
$421M
Dec '25
$318M
$43M
37.6%
17.8%
4.2%
2.3%
$44M
$452M
$460M
Sep '25
$381M
$53M
36.8%
18.3%
5.4%
2.9%
$69M
$452M
$432M
Jun '25
$380M
$53M
38.3%
19.4%
5.7%
3.0%
$56M
$451M
$372M
Mar '25
$364M
$51M
35.1%
19.2%
5.9%
3.1%
$5M
$451M
$329M
Dec '24
$304M
$35M
33.8%
15.6%
4.2%
2.2%
$42M
$450M
$338M
Sep '24
$348M
$10M
31.8%
8.2%
1.2%
0.6%
$70M
$450M
$310M
Jun '24
$357M
$47M
36.8%
18.8%
6.0%
3.0%
$75M
$449M
$243M
Mar '24
$353M
$44M
36.9%
18.0%
5.9%
2.9%
-$16M
$449M
$179M
Dec '23
$256M
$14M
33.7%
8.9%
2.0%
0.9%
$62M
$447M
$217M
Sep '23
$301M
$17M
29.3%
8.3%
2.4%
1.1%
$41M
$447M
$160M
Jun '23
$327M
$25M
30.6%
10.9%
3.4%
1.6%
$63M
$448M
$141M
Mar '23
$333M
$21M
29.4%
9.9%
3.0%
1.4%
-$26M
$448M
$89M
Dec '22
$315M
$23M
29.6%
10.8%
3.3%
1.5%
-$16M
$451M
$126M
Sep '22
$331M
$7M
25.8%
3.5%
1.1%
0.5%
$14M
$452M
$147M
Jun '22
$333M
$27M
29.5%
11.1%
3.8%
1.8%
$9M
$452M
$155M
Mar '22
$311M
$24M
29.9%
11.0%
3.3%
1.6%
-$34M
$452M
$164M
Dec '21
$272M
$19M
32.2%
10.6%
2.8%
1.3%
$9M
$452M
$207M
Sep '21
$296M
$18M
29.2%
9.4%
2.6%
1.2%
$17M
$452M
$228M
Valuation over time
How the market has priced MWA against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 28.4× (Mar '23) to 19.6× (Nov '26).
The price-to-sales ratio has risen from 1.7× (Mar '23) to 2.6× (Nov '26).
The dividend yield has fallen from 1.7% (Mar '23) to 1.1% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is MWA growing its revenue and profit?
Over the past 5 years, Mueller Water Products, Inc.'s revenue has grown 8.2% per year, and net income grown 21.6% per year. These are computed facts, not advice.
How much debt does MWA have?
As of FY2025, Mueller Water Products, Inc. reported $452M of total debt against $432M of cash; operating income covered interest expense 13×.
What is MWA's profit margin?
In FY2025, gross margin was 36.1%, operating margin 18.2%, and net margin 13.4%.
What is MWA's P/E ratio?
Mueller Water Products, Inc.'s P/E (TTM) is 16.88 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MWA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 19.6× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.