Mueller Water Products, Inc. (MWA) Income Statement
MWA FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsMWA revenue and net income
Where MWA's revenue goes
FY2025Each bar shows an amount and its share of revenue. MWA kept 13.4% of revenue as net income.
MWA profit margins
MWA growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.7% | +4.7% | +8.2% | +6.1% |
| Gross profit | +12.6% | +12.4% | +9.5% | +7.7% |
| Operating income | +43.4% | +32.7% | +17.4% | +12.6% |
| Net income | +65.4% | +35.8% | +21.6% | +20.0% |
| EPS (diluted) | +35.1% | +32.0% | +20.8% | +12.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MWA quarterly EPS vs estimates
Mueller Water Products beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.39).
MWA income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.43B | $1.31B | $1.28B | $1.25B | $1.11B | $964.1M | $968.0M | $916.0M | $826.0M | $800.6M |
| Cost of revenue | $913.0M | $855.7M | $896.2M | $883.1M | $752.5M | $635.9M | $647.1M | $626.1M | $558.5M | $532.7M |
| Gross profit | $516.7M | $459.0M | $379.5M | $364.3M | $358.5M | $328.2M | $320.9M | $289.9M | $267.5M | $267.9M |
| Research & development | — | — | $28.8M | $24.5M | $17.1M | $15.0M | $14.3M | $14.5M | $12.1M | $12.9M |
| Sales, general & admin | $247.3M | $228.7M | $219.7M | $233.2M | $212.3M | $198.4M | $183.1M | $160.6M | $156.4M | $155.2M |
| Total operating expenses | $256.1M | $277.3M | $252.1M | $252.7M | $226.8M | $211.4M | $196.6M | $168.2M | $165.8M | $175.0M |
| Operating income | $260.6M | $181.7M | $127.4M | $111.6M | $131.7M | $116.8M | $124.3M | $121.7M | $102.1M | $92.9M |
| Interest income | $13.4M | $8.8M | $3.7M | $16.9M | $23.4M | $25.5M | $19.8M | $4.4M | $2.0M | $400,000 |
| Interest expense | $20.0M | $21.5M | $18.4M | $17.6M | $23.8M | $26.6M | $23.3M | $24.7M | $22.3M | $23.6M |
| Income before taxes | $254.2M | $163.4M | $109.0M | $98.6M | $94.9M | $94.1M | $82.1M | $95.7M | $78.5M | $69.3M |
| Income taxes | $62.5M | $47.5M | $23.5M | $22.0M | $24.5M | $22.1M | $18.3M | −$9.9M | $24.2M | $24.2M |
| Net income | $191.7M | $115.9M | $85.5M | $76.6M | $70.4M | $72.0M | $63.8M | $105.6M | $123.3M | $63.9M |
| EBITDA | $307.7M | $250.1M | $188.9M | $175.7M | $177.2M | $177.3M | $157.3M | $166.9M | $142.6M | $145.5M |
| EPS (diluted) | $1.31 | $0.97 | $0.64 | $0.57 | $0.55 | $0.51 | $0.62 | $0.54 | $0.44 | $0.49 |
| Gross margin | 36.1% | 34.9% | 29.7% | 29.2% | 32.3% | 34.0% | 33.2% | 31.6% | 32.4% | 33.5% |
| Operating margin | 18.2% | 13.8% | 10.0% | 8.9% | 11.9% | 12.1% | 12.8% | 13.3% | 12.4% | 11.6% |
| Net margin | 13.4% | 8.8% | 6.7% | 6.1% | 6.3% | 7.5% | 6.6% | 11.5% | 14.9% | 8.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $395.9M | $384.4M | $318.2M | $380.8M | $380.3M | $364.3M | $304.3M | $348.2M | $356.7M | $353.4M | $256.4M | $301.4M |
| Cost of revenue | $240.1M | $239.9M | $198.4M | $240.8M | $234.6M | $236.3M | $201.3M | $237.3M | $225.3M | $223.0M | $170.1M | $213.0M |
| Gross profit | $155.8M | $144.5M | $119.8M | $140.0M | $145.7M | $128.0M | $103.0M | $110.9M | $131.4M | $130.4M | $86.3M | $88.4M |
| Research & development | — | — | — | — | — | — | — | — | — | — | — | $28.8M |
| Sales, general & admin | $119.5M | $59.7M | $59.8M | $66.7M | $71.0M | $55.7M | $53.9M | $43.6M | $62.5M | $65.7M | $56.9M | $49.5M |
| Total operating expenses | $75.2M | $64.1M | $59.8M | $70.4M | $72.0M | $58.1M | $55.6M | $82.5M | $64.4M | $66.9M | $63.5M | $63.5M |
| Operating income | $80.6M | $80.4M | $60.0M | $69.6M | $73.7M | $69.9M | $47.4M | $28.4M | $67.0M | $63.5M | $22.8M | $24.9M |
| Interest income | $4.2M | $3.2M | $1.0M | $1.0M | $1.7M | $2.8M | $3.4M | $3.2M | $2.3M | $1.5M | $1.8M | $1.6M |
| Interest expense | $700,000 | $1.6M | $4.6M | $5.1M | $4.8M | $5.1M | $5.0M | $6.2M | $5.1M | $5.1M | $5.1M | $4.9M |
| Income before taxes | $79.8M | $78.8M | $55.7M | $68.7M | $72.0M | $67.7M | $45.8M | $24.4M | $63.2M | $58.9M | $16.9M | $20.7M |
| Income taxes | $12.5M | $19.7M | $12.5M | $16.1M | $19.5M | $16.4M | $10.5M | $14.4M | $15.9M | $14.6M | $2.6M | $3.5M |
| Net income | $67.3M | $59.1M | $43.2M | $52.6M | $52.5M | $51.3M | $35.3M | $10.0M | $47.3M | $44.3M | $14.3M | $17.2M |
| EBITDA | $93.1M | $97.2M | $68.8M | $86.2M | $88.5M | $83.9M | $61.6M | $47.3M | $84.6M | $80.3M | $38.1M | $41.7M |
| EPS (diluted) | $0.50 | $0.40 | $0.29 | $0.38 | $0.34 | $0.34 | $0.25 | $0.22 | $0.32 | $0.30 | $0.13 | $0.19 |
| Gross margin | 39.4% | 37.6% | 37.6% | 36.8% | 38.3% | 35.1% | 33.8% | 31.8% | 36.8% | 36.9% | 33.7% | 29.3% |
| Operating margin | 20.4% | 20.9% | 18.9% | 18.3% | 19.4% | 19.2% | 15.6% | 8.2% | 18.8% | 18.0% | 8.9% | 8.3% |
| Net margin | 17.0% | 15.4% | 13.6% | 13.8% | 13.8% | 14.1% | 11.6% | 2.9% | 13.3% | 12.5% | 5.6% | 5.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MWA's financial statements (latest annual report filed November 19, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MWA financial results
In fiscal year 2025 (ended September 30, 2025), Mueller Water Products reported revenue of $1.4 billion, up 8.7% from the year before. It had net income of $191.7 million (up 65.4%), a net profit margin of 13.4%. Diluted earnings per share came to $1.31. Over five years revenue grew at an average rate of 8.2% a year.
See the MWA stock overview for the latest quote and news, or the MWA chart for price history and technical indicators.
MWA income statement FAQ
What is Mueller Water Products's annual revenue?
Mueller Water Products reported total revenue of $1.4 billion for fiscal year 2025, which ended on September 30, 2025. That was up 8.7% from $1.3 billion the previous year.
Is Mueller Water Products profitable?
Yes. Mueller Water Products reported net income of $191.7 million in fiscal 2025, a net profit margin of 13.4%; its operating margin was 18.2%.
What is Mueller Water Products's gross margin?
Mueller Water Products's gross margin was 36.1% in fiscal 2025: for every $100 of revenue, Mueller Water Products kept $36 after the direct cost of its products and services.
How fast is Mueller Water Products growing?
Revenue grew 8.2% a year on average over the last five fiscal years, from $964.1 million to $1.4 billion.
What are Mueller Water Products's earnings per share?
Mueller Water Products earned $1.31 per diluted share in fiscal 2025, compared with $0.97 a year earlier.
When will Mueller Water Products report its next earnings?
Mueller Water Products is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Mueller Water Products's fiscal year end?
Mueller Water Products's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 19, 2025.