Mueller Water Products, Inc.
- Open
- 25.62
- Day high
- 25.94
- Day low
- 25.50
- Prev close
- 26.10
- Volume
- 794K
- Mkt cap
- $4.0B
- P/E (TTM)
- 19.3
- EPS (TTM)
- $1.34
- P/B
- 3.8
- P/S
- 2.8
- Yield
- 1.07%
- Per share
- $0.28
- ▼Insiders net selling -$1.3M over the last 3 months (1 open-market buy, 1 sale)
- 🏛Institutions mixed (13F)
Mueller Water Products, Inc. (MWA) is a Industrials company listed on NYSE. The stock is up 6% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 1 sale (SEC Form 4).
Mueller Water Products, Inc. (MWA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MWA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.38 | $0.40 | +5.3% | $384M | +1.0% |
| Feb 4, 2026 | $0.27 | $0.29 | +7.4% | $318M | +1.3% |
| Nov 6, 2025 | $0.34 | $0.38 | +11.8% | $381M | +20.1% |
| Feb 4, 2025 | $0.20 | $0.25 | +25.0% | $304M | +3.8% |
| Feb 8, 2024 | $0.09 | $0.13 | +44.4% | $256M | +2.3% |
| Dec 13, 2023 | $0.11 | $0.19 | +72.7% | $301M | +5.9% |
| Aug 3, 2023 | $0.20 | $0.18 | -10.0% | $327M | -6.1% |
| Feb 2, 2023 | $0.08 | $0.13 | +62.5% | $315M | +9.0% |
| Aug 4, 2022 | $0.20 | $0.19 | -5.0% | $333M | +0.9% |
| May 2, 2022 | $0.14 | $0.15 | +7.1% | $311M | +6.3% |
| Feb 3, 2022 | $0.08 | $0.13 | +62.5% | $272M | +7.5% |
| Aug 4, 2021 | $0.16 | $0.18 | +12.5% | $311M | +15.5% |
MWA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 10, 2026 | Floyd Scott P.officer: EVP & Chief Commercial Officer | Tax | 5,907 | $25.37 |
| May 29, 2026 | ZAKAS MARIETTA EDMUNDSdirector, officer: Former Officer and Director | Sell | 54,254 | $25.26 |
| May 18, 2026 | Healy Brian C.director | Buy | 1,166 | $25.75 |
| Mar 17, 2026 | Helms Todd Pofficer: SVP and CHRO | Sell | 10,720 | $27.61 |
| Mar 4, 2026 | Rasmussen Melissaofficer: SVP and CFO | Tax | 3,341 | $29.36 |
| Feb 26, 2026 | SENGSTACK GREGG Cdirector | Buy | 25,000 | $29.58 |
| Feb 24, 2026 | Floyd Scott P.officer: EVP & Chief Commercial Officer | Grant | 2,979 | $29.59 |
| Feb 24, 2026 | Floyd Scott P.officer: EVP & Chief Commercial Officer | Grant | 1,056 | — |
| Feb 20, 2026 | Helms Todd Pofficer: SVP and CHRO | Sell | 10,720 | $29.72 |
| Feb 12, 2026 | McAndrew Paulofficer: President and CEO | Grant | 61,800 | $29.45 |
| Feb 12, 2026 | McAndrew Paulofficer: President and CEO | Grant | 20,250 | — |
| Feb 11, 2026 | Terry Bentina Chisolmdirector | Grant | 4,381 | — |
| Feb 11, 2026 | HANSEN THOMAS Jdirector | Grant | 4,381 | — |
| Feb 11, 2026 | Garcia Christian Adirector | Grant | 4,381 | — |
| Feb 11, 2026 | SENGSTACK GREGG Cdirector | Grant | 4,414 | — |
Source: MWA SEC Form 4 filings, latest Jun 10, 2026. For informational purposes only — not investment advice.
See the full MWA insider & 13F page →Mueller Water Products, Inc. company profile
Overview
Mueller Water Products, Inc. (NYSE:MWA) is a leading North American manufacturer of water infrastructure products founded in 1857 and headquartered in Atlanta, Georgia. The company went public in 2006 and has evolved from its origins as a traditional valve manufacturer into a comprehensive provider of water transmission, distribution, and measurement solutions. Mueller serves municipalities, residential construction, and non-residential construction markets across North America and internationally, operating through two primary business segments: Infrastructure and Technologies.
Business
Mueller Water Products operates in the water infrastructure industry, manufacturing and marketing products essential for municipal water systems and construction projects. The water infrastructure sector encompasses the complex network of pipes, valves, hydrants, and measurement devices that deliver clean water to communities and manage wastewater systems. The company's Infrastructure segment represents the larger portion of its business, manufacturing critical components for water and gas distribution systems. This includes iron gate valves that control water flow in main distribution lines, butterfly valves for large-diameter pipes, fire hydrants for emergency services, and specialized repair products like clamps and couplings used to fix leaks in aging pipe systems. These products are sold under established brands including Mueller, Jones, Centurion, and HYMAX, among others. The Infrastructure segment generates approximately 60% of total revenue. The Technologies segment focuses on water measurement and monitoring solutions, offering smart water meters, leak detection systems, and pipe condition assessment technologies. These products help utilities monitor water usage, detect system inefficiencies, and manage their infrastructure more effectively. Key brands in this segment include Mueller Systems, Echologics, and Mi.Net. This segment represents roughly 40% of total revenue. The company's products address the critical challenge of aging water infrastructure in North America, where many systems were installed decades ago and require ongoing maintenance, repair, and replacement. Mueller's solutions span from basic mechanical components to sophisticated digital monitoring systems that help utilities optimize their operations.
Revenue model
Mueller generates revenue primarily through product sales to three main customer categories. Municipal water utilities represent 60-65% of sales, purchasing valves, hydrants, meters, and repair products for their water distribution systems. Residential construction accounts for approximately 25% of revenue, with contractors buying valves and connection products for new home construction. The remaining 10-15% comes from non-residential construction and industrial applications. The company operates on a traditional manufacturing business model, selling products through a network of distributors and directly to large municipal customers. Revenue is generated from one-time product sales rather than recurring subscriptions, though the Technologies segment includes some service components for meter reading and data analytics. Several factors influence Mueller's profitability margins. Commodity costs for raw materials like iron, brass, and copper directly impact manufacturing costs, with the company implementing pricing strategies to offset inflationary pressures. Manufacturing efficiency plays a crucial role, as evidenced by the company's recent investment in a new brass foundry expected to improve gross margins by 80-100 basis points annually. Market demand cycles affect volumes, with residential construction activity and municipal infrastructure spending creating variability in sales. Competitive pricing pressure from other valve and meter manufacturers can compress margins, while Mueller's established brand reputation and customer relationships provide some pricing power. The company's high degree of vertical integration, with 92% of sales in the U.S. and significant domestic manufacturing, provides some insulation from supply chain disruptions and tariff impacts that affect competitors relying on imported components.
Competitive moat
Mueller Water Products possesses a moderate competitive moat built primarily on brand recognition, customer relationships, and manufacturing scale. The company benefits from over 165 years of industry presence, establishing trusted brands like Mueller and Jones that are specified by engineers and preferred by contractors. Municipal customers often exhibit loyalty to proven suppliers due to the critical nature of water infrastructure and the long replacement cycles of these products. The company's manufacturing scale and vertical integration provide cost advantages and supply chain reliability that smaller competitors struggle to match. Mueller's new brass foundry investment and domestic manufacturing footprint offer operational efficiencies and reduced dependence on imports. Additionally, the company's broad product portfolio allows it to serve as a one-stop supplier for water utilities, creating switching costs for customers. However, Mueller's moat faces several challenges. The water infrastructure industry includes numerous established competitors like American Water Works, Xylem, and regional valve manufacturers who compete on price and product features. Product commoditization in basic valve and pipe repair products limits pricing power, while technological disruption in smart metering and leak detection creates opportunities for new entrants with advanced digital capabilities. The municipal customer base, while stable, operates under budget constraints that can drive price-sensitive purchasing decisions. The company's dependence on North American markets also limits growth opportunities compared to global infrastructure companies. Overall, Mueller maintains a defensible but not impregnable competitive position that requires continuous operational improvement and strategic investment to sustain.
Risks & safety
Mueller Water Products demonstrates a strong financial safety profile with solid liquidity and manageable debt levels, though valuation metrics suggest limited margin of safety at current prices. • Liquidity and Solvency: Strong current ratio of 3.79x and quick ratio of 2.46x indicate excellent short-term liquidity. Cash position of $329 million provides substantial financial flexibility. Debt-to-equity ratio of 0.55x represents moderate leverage levels that are well-manageable. • Cash Generation: Positive free cash flow of $5.1 million in recent quarter, though significantly lower than historical levels. Full-year 2024 generated strong $191 million in free cash flow, indicating underlying cash generation capability. • Valuation Metrics: Current P/E ratio of 19.4x appears reasonable for industrial company, though EV/EBITDA of 12.3x suggests limited upside. Price-to-book ratio of 4.55x indicates shares trading at premium to book value. Graham number of 6.42 suggests current price of $25.32 may be above intrinsic value estimates. • Other Considerations: Cyclical nature of construction markets creates earnings volatility. Municipal customer base provides stability but limits growth potential. Recent margin improvements from operational efficiencies may not be sustainable long-term.
Recent development
Over the past few years, Mueller has executed several strategic initiatives to strengthen its competitive position and operational efficiency. The company's most significant investment has been the construction and ramp-up of a new brass foundry, which became fully operational by 2024 and is expected to deliver 80-100 basis points of annual gross margin improvement while reducing dependence on outsourced production. Mueller has also focused on operational excellence initiatives that have driven substantial margin improvements, with gross margins increasing over 500 basis points in recent years through better manufacturing efficiency, reduced outsourcing costs, and strategic pricing actions. The company closed its legacy brass foundry by the end of 2024 as part of this modernization effort. The company has positioned itself to benefit from federal infrastructure spending, particularly the Infrastructure Investment and Jobs Act, which allocates significant funding for water infrastructure improvements and lead service line replacement projects. While the impact has been limited so far due to regulatory delays, management expects meaningful benefits beginning in 2025. Product portfolio expansion has included investments in smart water technologies and leak detection capabilities, while the company maintains its focus on traditional valve and hydrant products that represent its core competency. Recent acquisitions like Krausz have added specialized repair products to the portfolio, though the Israeli-based operation represents less than 10% of consolidated sales. Mueller has also implemented cost reduction initiatives, including approximately $25 million in annual SG&A savings and continued focus on manufacturing efficiency improvements. The company maintains a disciplined approach to capital allocation, with capital expenditures targeted at 3.5-4% of sales and continued shareholder returns through dividends and share repurchases.
MWA company profile · for informational purposes only — not investment advice.
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