Mueller Water Products, Inc. (MWA) Key Metrics
MWA valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $3.40B
- Enterprise value
- $3.35B
- P/E (TTM)
- 15.3 10-yr median 23.1
- Forward P/E
- 13.8
- PEG ratio
- 0.92
- Price / sales
- 2.3 10-yr median 2.1
- Price / book
- 3.0 10-yr median 3.4
- EV / EBITDA
- 9.5 10-yr median 13.1
- Dividend yield
- 1.29% $0.28 a year
- Beta
- 1.00
MWA key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsMWA valuation Price multiples at each fiscal year-end price.
MWA returns How much profit the business earns on the capital it uses.
MWA per-share figures Results divided by the shares outstanding at year-end.
MWA financial health Debt, liquidity and how easily interest is covered.
MWA efficiency & capital use Working capital cycle and where the cash goes.
MWA valuation history
MWA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MWA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MWA cash returned to shareholders
MWA price vs earnings per share
MWA key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.02B | $3.40B | $1.99B | $1.62B | $2.42B | $1.65B | $1.79B | $1.84B | $2.07B | $2.05B |
| Enterprise value | $4.04B | $3.57B | $2.30B | $1.95B | $2.67B | $1.91B | $2.06B | $1.94B | $2.19B | $2.34B |
| P/E ratio | 21.0 | 29.4 | 23.3 | 21.2 | 34.4 | 22.9 | 28.0 | 17.4 | 16.8 | 32.1 |
| Price / sales | 2.8 | 2.6 | 1.6 | 1.3 | 2.2 | 1.7 | 1.8 | 2.0 | 2.5 | 2.6 |
| Price / book | 4.1 | 4.2 | 2.8 | 2.4 | 3.5 | 2.6 | 3.0 | 3.3 | 4.2 | 4.9 |
| Price / free cash flow | 23.4 | 17.8 | 32.4 | — | 25.8 | 22.7 | 302.9 | 23.9 | — | 18.1 |
| Price / operating cash flow | 18.3 | 14.3 | 18.2 | 31.0 | 15.5 | 11.7 | 19.3 | 13.9 | 128.6 | 14.1 |
| EV / sales | 2.8 | 2.7 | 1.8 | 1.6 | 2.4 | 2.0 | 2.1 | 2.1 | 2.7 | 2.9 |
| EV / EBITDA | 13.1 | 14.3 | 12.2 | 11.1 | 15.1 | 10.8 | 13.1 | 11.6 | 15.4 | 16.1 |
| EV / free cash flow | 23.5 | 18.7 | 37.5 | — | 28.4 | 26.4 | 348.6 | 25.1 | — | 20.6 |
| Earnings yield | 4.8% | 3.4% | 4.3% | 4.7% | 2.9% | 4.4% | 3.6% | 5.7% | 6.0% | 3.1% |
| Free cash flow yield | 4.3% | 5.6% | 3.1% | −0.1% | 3.9% | 4.4% | 0.3% | 4.2% | −1.2% | 5.5% |
| Dividend yield | 1.0% | 1.2% | 1.9% | 2.2% | 1.4% | 2.0% | 1.8% | 1.6% | 1.2% | 0.8% |
| Shareholder yield (dividends + buybacks) | 1.4% | 1.5% | 2.4% | 4.4% | 1.8% | 2.4% | 2.4% | 3.4% | 3.9% | 0.9% |
| Share price at fiscal year-end | $25.52 | $21.70 | $12.68 | $10.27 | $15.22 | $10.39 | $11.24 | $11.51 | $12.80 | $12.55 |
| Per share | ||||||||||
| Revenue per share | $9.08 | $8.38 | $8.14 | $7.89 | $6.98 | $6.08 | $6.09 | $5.74 | $5.11 | $4.90 |
| Earnings per share | $1.22 | $0.74 | $0.55 | $0.48 | $0.44 | $0.45 | $0.40 | $0.66 | $0.76 | $0.39 |
| Operating cash flow per share | $1.39 | $1.52 | $0.70 | $0.33 | $0.98 | $0.88 | $0.58 | $0.83 | $0.10 | $0.89 |
| Free cash flow per share | $1.09 | $1.22 | $0.39 | −$0.02 | $0.59 | $0.46 | $0.04 | $0.48 | −$0.15 | $0.70 |
| Cash per share | $2.74 | $1.98 | $1.02 | $0.93 | $1.43 | $1.32 | $1.11 | $2.17 | $2.24 | $1.19 |
| Book value per share | $6.23 | $5.16 | $4.54 | $4.24 | $4.36 | $4.04 | $3.71 | $3.53 | $3.02 | $2.56 |
| Tangible book value per share | $3.72 | $2.67 | $1.81 | $1.33 | $1.18 | $0.83 | $0.38 | $0.90 | $0.30 | −$0.41 |
| Dividends per share | $0.27 | $0.25 | $0.24 | $0.23 | $0.22 | $0.21 | $0.20 | $0.19 | $0.15 | $0.10 |
| Capex per share | $0.30 | $0.30 | $0.30 | $0.35 | $0.39 | $0.43 | $0.54 | $0.35 | $0.25 | $0.19 |
| Debt per share | $2.87 | $3.04 | $3.01 | $3.00 | $2.99 | $2.99 | $2.81 | $2.79 | $2.97 | $2.97 |
| Shares outstanding | 157.5M | 156.9M | 156.8M | 158.0M | 159.2M | 158.6M | 159.0M | 159.7M | 161.8M | 163.4M |
| Change in shares outstanding | +0.4% | +0.1% | −0.8% | −0.8% | +0.4% | −0.3% | −0.4% | −1.3% | −1.0% | +0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 21.4% | 15.2% | 12.4% | 11.2% | 10.5% | 11.7% | 11.1% | 20.1% | 27.2% | 16.3% |
| Return on invested capital (ROIC) | 19.9% | 12.9% | 9.9% | 8.9% | 10.6% | 10.1% | 12.7% | 19.2% | 10.7% | 8.3% |
| Return on assets (ROA) | 11.0% | 7.4% | 5.7% | 5.1% | 4.8% | 5.3% | 4.9% | 8.3% | 9.7% | 5.1% |
| Return on tangible assets | 13.3% | 9.3% | 7.9% | 7.4% | 7.0% | 8.1% | 7.9% | 12.1% | 15.1% | 8.0% |
| Free cash flow margin | 12.0% | 14.6% | 4.8% | −0.2% | 8.5% | 7.5% | 0.6% | 8.4% | −3.0% | 14.2% |
| Income quality (OCF / net income) | 1.14 | 2.06 | 1.27 | 0.68 | 2.23 | 1.95 | 1.45 | 1.26 | 0.13 | 2.27 |
| Financial health | ||||||||||
| Total debt | $451.6M | $477.5M | $472.1M | $473.7M | $475.5M | $474.9M | $446.3M | $445.0M | $480.6M | $485.1M |
| Cash & short-term investments | $431.5M | $309.9M | $160.3M | $146.5M | $227.5M | $208.9M | $176.7M | $347.1M | $361.7M | $195.0M |
| Net debt | $20.1M | $167.6M | $311.8M | $327.2M | $248.0M | $266.0M | $269.6M | $97.9M | $118.9M | $290.1M |
| Debt / equity | 0.46 | 0.59 | 0.66 | 0.71 | 0.68 | 0.74 | 0.76 | 0.79 | 0.98 | 1.16 |
| Debt / assets | 0.25 | 0.29 | 0.31 | 0.32 | 0.31 | 0.34 | 0.33 | 0.34 | 0.38 | 0.38 |
| Net debt / EBITDA | 0.07 | 0.67 | 1.65 | 1.86 | 1.40 | 1.50 | 1.71 | 0.59 | 0.83 | 1.99 |
| Current ratio | 3.54 | 3.33 | 3.23 | 2.82 | 2.97 | 3.75 | 3.18 | 4.10 | 4.73 | 3.30 |
| Quick ratio | 2.41 | 2.12 | 1.83 | 1.65 | 2.12 | 2.68 | 2.10 | 3.17 | 3.75 | 2.14 |
| Interest coverage | 13.0 | 8.5 | 6.9 | 6.3 | 5.5 | 4.4 | 5.3 | 4.9 | 4.6 | 3.9 |
| Working capital | $738.6M | $600.4M | $488.0M | $439.0M | $433.6M | $426.2M | $388.4M | $518.4M | $528.7M | $426.5M |
| Invested capital | $1.00B | $977.7M | $1.02B | $996.5M | $942.9M | $906.7M | $859.7M | $661.2M | $607.3M | $708.4M |
| Tangible asset value | $585.2M | $419.7M | $283.8M | $209.5M | $187.3M | $132.1M | $62.9M | $144.6M | $50.2M | −$66.5M |
| Net current asset value | $171.7M | $32.6M | −$86.7M | −$148.8M | −$169.4M | −$173.1M | −$178.1M | −$41.6M | −$98.5M | −$248.8M |
| Graham number | $13.07 | $9.26 | $7.46 | $6.80 | $6.59 | $6.42 | $5.79 | $7.24 | $7.19 | $4.75 |
| Graham net-net per share | −$0.48 | −$1.27 | −$2.00 | −$2.32 | −$2.10 | −$1.99 | −$2.13 | −$1.12 | −$1.41 | −$2.82 |
| Capital allocation | ||||||||||
| Dividends paid | $41.9M | $39.9M | $38.1M | $36.5M | $34.8M | $33.1M | $32.0M | $30.1M | $24.0M | $16.1M |
| Share buybacks (net) | $15.0M | $10.0M | $10.0M | $35.0M | $10.0M | $5.9M | $10.0M | $32.1M | $57.7M | $3.3M |
| Dividend payout ratio | 21.9% | 34.4% | 44.6% | 47.7% | 49.4% | 46.0% | 50.2% | 28.5% | 19.5% | 25.2% |
| Dividends + buybacks / free cash flow | 33.1% | 26.1% | 78.3% | — | 47.7% | 53.7% | 711.9% | 80.8% | — | 17.1% |
| Capex / revenue | 3.3% | 3.6% | 3.7% | 4.4% | 5.6% | 7.0% | 8.9% | 6.1% | 4.9% | 3.9% |
| Capex / operating cash flow | 21.6% | 19.8% | 43.7% | 104.6% | 40.0% | 48.3% | 93.6% | 42.0% | 252.2% | 21.7% |
| Capex / depreciation | 1.01 | 0.72 | 0.76 | 0.90 | 1.05 | 1.17 | 1.63 | 1.27 | 0.97 | 0.80 |
| Stock-based compensation / revenue | 0.7% | 0.7% | 0.7% | 0.7% | 0.7% | 0.5% | 0.4% | 0.5% | 0.7% | 0.6% |
| R&D / revenue | — | — | 2.3% | 2.0% | 1.5% | 1.6% | 1.5% | 1.6% | 1.5% | 1.6% |
| SG&A / revenue | 17.3% | 17.4% | 17.2% | 18.7% | 19.1% | 20.6% | 18.9% | 17.5% | 18.9% | 19.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 59.2 | 60.7 | 65.0 | 66.8 | 68.8 | 70.8 | 64.7 | 61.7 | 61.2 | 70.0 |
| Days of inventory on hand | 127.9 | 131.6 | 119.6 | 96.9 | 85.8 | 102.6 | 98.1 | 86.1 | 115.3 | 148.3 |
| Days payables outstanding | 48.8 | 45.4 | 46.0 | 44.4 | 38.6 | 43.6 | 49.2 | 50.3 | 51.0 | 59.1 |
| Cash conversion cycle (days) | 138.2 | 147.0 | 138.7 | 119.4 | 115.9 | 129.8 | 113.6 | 97.5 | 125.4 | 159.3 |
| Receivables turnover | 6.17 | 6.01 | 5.61 | 5.46 | 5.31 | 5.16 | 5.64 | 5.92 | 5.96 | 5.21 |
| Payables turnover | 7.47 | 8.04 | 7.94 | 8.22 | 9.45 | 8.37 | 7.41 | 7.26 | 7.15 | 6.18 |
| Inventory turnover | 2.85 | 2.77 | 3.05 | 3.77 | 4.25 | 3.56 | 3.72 | 4.24 | 3.17 | 2.46 |
| Asset turnover | 0.82 | 0.84 | 0.85 | 0.83 | 0.76 | 0.71 | 0.74 | 0.72 | 0.65 | 0.64 |
| Average receivables | $231.7M | $218.7M | $227.2M | $228.3M | $209.3M | $186.9M | $171.7M | $154.8M | $138.6M | $153.6M |
| Average payables | $122.2M | $106.4M | $112.8M | $107.4M | $79.7M | $76.0M | $87.3M | $86.2M | $78.1M | $86.2M |
| Average inventory | $320.0M | $308.6M | $293.7M | $234.6M | $176.9M | $178.8M | $174.0M | $147.8M | $176.3M | $216.4M |
| Intangibles / total assets | 21.6% | 23.9% | 28.4% | 30.7% | 33.4% | 36.5% | 39.6% | 32.5% | 34.9% | 38.0% |
Computed from MWA's annual financial statements (latest annual report filed November 19, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MWA valuation and financial ratios
At the end of fiscal 2025 (September 30, 2025), Mueller Water Products traded at 21.0 times earnings, against a 10-year median of 23.1. Based on the latest twelve months, the trailing P/E is 15.3 and the forward P/E is 13.8. Mueller Water Products earned a return on equity of 21.4% and a return on invested capital of 19.9% in fiscal 2025. It ended the year with $451.6 million of debt and $431.5 million in cash and short-term investments, net debt of $20.1 million. It returned $56.9 million to shareholders: $41.9 million in dividends and $15.0 million in share buybacks, 33% of free cash flow. The share count fell 3.6% from 163.4M to 157.5M over 9 years.
See the MWA income statement, the MWA chart for price history, or the MWA stock overview for the latest quote and news.
MWA key metrics FAQ
What is Mueller Water Products's P/E ratio?
Mueller Water Products's trailing P/E ratio is 15.3 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 13.8. At the end of fiscal 2025 it was 21.0, compared with a 10-year median of 23.1.
What is Mueller Water Products's EV/EBITDA?
Mueller Water Products's enterprise value was 13.1 times EBITDA at the end of fiscal 2025 (enterprise value $4.0 billion, EBITDA $307.7 million); the current EV/EBITDA is 9.5.
What is Mueller Water Products's return on equity?
Mueller Water Products's return on equity (ROE) was 21.4% in fiscal 2025: net income of $191.7 million on average shareholders' equity of $895.9 million.
What is Mueller Water Products's ROIC?
Mueller Water Products's return on invested capital was 19.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Mueller Water Products have?
Mueller Water Products had total debt of $451.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.46 and $20.1 million of net debt (0.07 times EBITDA).
What is Mueller Water Products's dividend yield?
Mueller Water Products's forward dividend yield is 1.29%. Mueller Water Products paid $41.9 million in dividends in fiscal 2025 ($0.27 per share), a payout ratio of 21.9%.
Does Mueller Water Products buy back its shares?
Yes. Mueller Water Products spent $15.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.4% over the year, to 157.5M..
What is Mueller Water Products's free cash flow yield?
Mueller Water Products generated $172.0 million of free cash flow in fiscal 2025, a free cash flow yield of 4.3% on its market value at year-end ($4.0 billion).
What is Mueller Water Products's current ratio?
Mueller Water Products's current ratio was 3.54 at the end of fiscal 2025: current assets were 3.54 times current liabilities.