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Makes fire hydrants, valves and smart water meters for municipal water and wastewater utilities.
Makes fire hydrants, valves and smart water meters for municipal water and wastewater utilities.
Sells nearly all its products through waterworks distributors to utilities and contractors, so a few large distributors matter more than the many end customers. Hydrants and valves are replaced on long cycles and municipal specifications favour approved suppliers; metering and leak detection are newer, higher-technology lines.
Moat: narrow (installed base, brand, switching costs). Long product life and municipal specification/approval processes favor incumbent suppliers.
Headquarters: Atlanta, Georgia, United States · Founded: 1857
Size Mueller Water Products (MWA) is a United States Industrials company (Industrial Machinery) with a market value of $3.75B, the 1388th largest of 3,117 United States companies the cockpit tracks. Shares closed at $24.05 on 6 Nov 2026.
Performance Over six months the shares fell 8.8%, against -16.8% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 5.9% over the last twelve months (peer median +8.9%); the operating margin is 20.9% (peer median 7.7%).
Valuation It trades at 15.3× forward earnings against a peer median of 31.2× (6th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.2 points above its cost of capital (9.3% WACC).
Credit Mueller Water Products has 1 bond outstanding ($450M), rated BB+ by the agencies and trading like BB at a weighted spread of 131 bp.
Short interest Short interest is 3.9% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $1.48B | $1.48B | $1.43B | $1.31B | $1.28B |
| Revenue growth | — | +3% | +9% | +3% | — |
| Gross profit | $560M | $559M | $517M | $459M | $380M |
| EBITDA | $360M | $369M | $316M | $280M | $200M |
| Net income | $222M | $222M | $192M | $116M | $85.5M |
| Free cash flow | $180M | $207M | $172M | $190M | $61.4M |
| Capital expenditure | $58.1M | $55.6M | $47.3M | $47.4M | $47.6M |
| Total debt | $453M | $454M | $464M | $478M | $472M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Mueller Water Products MWA | $3.75B | -9% | +6% | 21% | 15.3× | 2.4% |
| Xylem XYL | $22.4B | -14% | +2% | 16% | 17.4× | 12.1% |
| Badger Meter BMI | $4.52B | +33% | -2% | 19% | 32.5× | 10.9% |
| Watts Water Technologies WTS | $11.6B | +17% | +17% | 19% | 24.6× | 15.8% |
| Itron ITRI | $4.32B | +20% | -4% | 14% | 14.5× | 9.2% |
| Zurn Elkay Water Solutions ZWS | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MWA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.6% | -1.3% | 4th highest of 21 |
| 6-month return | -8.8% | -16.8% | 5th highest of 21 |
| Distance from 52-week high | -22.4% | -34.4% | 4th highest of 21 |
| Revenue growth (TTM) | +5.9% | +8.9% | 8th lowest of 21 |
| Operating margin | 20.9% | 7.7% | 3rd highest of 21 |
| Forward P/E | 15.3× | 31.2× | 6th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 2.4% | 6.3% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +5.8% | +11.3% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | -3.4 pp | -3.0 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | +14.2 pp | -0.5 pp | 2nd highest of 21 |
| EV / EBITDA | 10.1× | 14.3× | 5th cheapest of 10 |
| Net debt / EBITDA | -0.3× | -0.2× | 5th least indebted of 11 |
| Bond spread | 131 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mueller Water Products MWA | United States | $3.75B | -9% | +6% | 21% | 15.3× | 2.4% | +5.8% |
| Ningbo Zhenyu Technology 300953.SZ | China | $3.77B | -35% | +58% | 6% | 21.2× | n/a | n/a |
| Estun Automation 2715.HK | Hong Kong | $3.79B | -9% | +13% | 4% | 42.2× | 28.7% | +13.5% |
| Zijin Longking 600388.SS | China | $3.70B | -6% | +13% | 11% | 17.4× | n/a | n/a |
| Aixtron AIXA.DE | Germany | $3.84B | -45% | -9% | 16% | 42.6× | 5.7% | +15.6% |
| Voltas VOLTAS.NS | India | $3.84B | -19% | +4% | 4% | 50.1× | n/a | n/a |
| Sumitomo Heavy Industries 6302.T | Japan | $3.64B | -10% | +9% | 6% | 13.0× | 6.3% | +4.3% |
| Haitian International 1882.HK | Hong Kong | $3.64B | -18% | +8% | 17% | 7.4× | -11.5% | +7.7% |
| Kunshan Kinglai Hygienic Materials 300260.SZ | China | $3.61B | -12% | +11% | 8% | 73.2× | n/a | n/a |
| Avic Aviation High-Technology 600862.SS | China | $3.92B | -6% | -3% | 22% | 31.2× | 6.0% | +11.4% |
| Danieli & C. Officine Meccaniche DAN.MI | Italy | $3.60B | -24% | -8% | -6% | 13.5× | n/a | n/a |
| Krones KRN.DE | Germany | $3.94B | -7% | +3% | 7% | 11.2× | -1.8% | +11.3% |
| THK 6481.T | Japan | $3.52B | -16% | +8% | 7% | 10.6× | 24.8% | +1.9% |
| Anhui Yingliu Electromechanical 603308.SS | China | $3.50B | -58% | +38% | 13% | 42.0× | n/a | n/a |
| Thermax THERMAX.NS | India | $3.46B | -34% | +5% | 6% | 43.6× | n/a | n/a |
| Kadant KAI | United States | $3.46B | -14% | +17% | 16% | 21.7× | 15.5% | +10.6% |
| Shenzhen Zhaowei Machinery & Electronics 003021.SZ | China | $3.45B | +6% | 0% | 9% | 124.4× | 46.0% | +7.5% |
| Amada 6113.T | Japan | $4.10B | -20% | +18% | 10% | 15.9× | 8.7% | +11.8% |
| Blue Star BLUESTARCO.NS | India | $3.43B | -10% | +9% | 5% | 56.0× | n/a | n/a |
| Guangdong Shenling Environmental Systems 301018.SZ | China | $3.42B | -27% | +45% | 5% | 64.8× | n/a | n/a |
| Jiangsu Lettall Electronic 603629.SS | China | $3.41B | -40% | +27% | 34% | n/a | 4.8% | +15.0% |
Mueller Water Products has 1 bond outstanding with $450M face value. The agencies rate it BB+; its bonds trade like BB. Weighted yield 5.92%, a spread of 131 bp over government bonds.