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
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
FCF
Total debt
Cash
2025
$1.4B
$192M
36.1%
18.2%
$172M
$452M
$432M
2024
$1.3B
$116M
34.9%
13.8%
$191M
$450M
$310M
2023
$1.3B
$86M
29.7%
10.0%
$61M
$447M
$160M
2022
$1.2B
$77M
29.2%
8.9%
-$2M
$452M
$147M
2021
$1.1B
$70M
32.3%
11.9%
$94M
$452M
$228M
2020
$964M
$72M
34.0%
12.1%
$73M
$453M
$209M
2019
$968M
$64M
33.2%
12.8%
$6M
$452M
$177M
2018
$916M
$106M
31.6%
13.3%
$77M
$452M
—
2017
$826M
$123M
32.4%
12.4%
—
$487M
—
2016
$801M
$64M
33.6%
14.0%
—
$491M
—
2015
—
$31M
—
—
—
$496M
—
2014
—
$56M
—
—
—
$546M
—
2013
$8M
$41M
4176.0%
1297.3%
—
$601M
—
2012
$7M
-$108M
3663.5%
866.2%
—
$623M
—
2011
$9M
-$38M
2819.3%
598.9%
$17M
$678M
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$384M
$59M
37.6%
20.9%
-$28M
$452M
$421M
Dec '25
$318M
$43M
37.6%
17.8%
$44M
$452M
$460M
Sep '25
$381M
$53M
36.8%
18.3%
$69M
$452M
$432M
Jun '25
$380M
$53M
38.3%
19.4%
$56M
$451M
$372M
Mar '25
$364M
$51M
35.1%
19.2%
$5M
$451M
$329M
Dec '24
$304M
$35M
33.8%
15.6%
$42M
$450M
$338M
Sep '24
$348M
$10M
31.8%
8.2%
$70M
$450M
$310M
Jun '24
$357M
$47M
36.8%
18.8%
$75M
$449M
$243M
Mar '24
$353M
$44M
36.9%
18.0%
-$16M
$449M
$179M
Dec '23
$256M
$14M
33.7%
8.9%
$62M
$447M
$217M
Sep '23
$301M
$17M
29.3%
8.3%
$41M
$447M
$160M
Jun '23
$327M
$25M
30.6%
10.9%
$63M
$448M
$141M
Mar '23
$333M
$21M
29.4%
9.9%
-$26M
$448M
$89M
Dec '22
$315M
$23M
29.6%
10.8%
-$16M
$451M
$126M
Sep '22
$331M
$7M
25.8%
3.5%
$14M
$452M
$147M
Jun '22
$333M
$27M
29.5%
11.1%
$9M
$452M
$155M
Mar '22
$311M
$24M
29.9%
11.0%
-$34M
$452M
$164M
Dec '21
$272M
$19M
32.2%
10.6%
$9M
$452M
$207M
Sep '21
$296M
$18M
29.2%
9.4%
$17M
$452M
$228M
Jun '21
$311M
$14M
33.9%
13.8%
$45M
$452M
—
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 28.5× (Mar '23) to 22.0× (Jun '26).
The price-to-sales ratio has risen from 1.7× (Mar '23) to 3.0× (Jun '26).
The dividend yield has fallen from 1.7% (Mar '23) to 1.0% (Jun '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?
As of Jun '26, Mueller Water Products, Inc. traded at a price-to-earnings ratio of about 22.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.