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MUELLER WATER PRODUCTS, INC.

CIK: 1350593 SIC: 3490
$1.44B
Revenue
$199.60M
Net Income
36.96%
Gross Margin
18.70%
Op. Margin
$275.20M
Free Cash Flow
Financial Statements Annual (10-K)
Showing 15 of 15 annual reports available (2011 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Sep 30, 2025)
FY 2024
(Sep 30, 2024)
FY 2023
(Sep 30, 2023)
FY 2022
(Sep 30, 2022)
FY 2021
(Sep 30, 2021)
FY 2020
(Sep 30, 2020)
FY 2019
(Sep 30, 2019)
FY 2018
(Sep 30, 2018)
FY 2017
(Sep 30, 2017)
FY 2016
(Sep 30, 2016)
FY 2015
(Sep 30, 2015)
FY 2014
(Sep 30, 2014)
FY 2013
(Sep 30, 2013)
FY 2012
(Sep 30, 2012)
FY 2011
(Sep 30, 2011)
+ Total Revenue $1.44B $1.43B $1.31B $1.28B $1.25B $1.11B $964.10M $968.00M $916.00M $826.00M $800.60M $1.16B $1.18B $1.12B $1.02B $1.34B
Revenue Growth % 1.0% 8.7% 3.1% 2.3% 12.3% 15.2% -0.4% 5.7% 10.9% 3.2% -31.2% -1.7% 5.7% 9.5% -23.5% nan%
Cost of Revenue $910.10M $913.00M $855.70M $896.20M $883.10M $752.50M $635.90M $647.10M $626.10M $558.50M $774.60M $817.20M $836.80M $807.60M $752.80M $1.11B
+ Gross Profit $533.50M $516.70M $459.00M $379.50M $364.30M $358.50M $328.20M $320.90M $289.90M $267.50M $364.30M $347.30M $347.90M $313.20M $271.10M $234.10M
Gross Margin % 37.0% 36.1% 34.9% 29.7% 29.2% 32.3% 34.0% 33.2% 31.6% 32.4% 45.5% 29.8% 29.4% 27.9% 26.5% 17.5%
Operating Expenses $263.60M $256.10M $277.30M $252.10M $252.70M $226.80M $211.40M $196.60M $168.20M $166.80M $243.70M $237.70M $223.80M $215.90M $207.00M $227.40M
Selling General & Admin $253.20M $247.30M $245.20M $241.90M $238.70M $218.80M $198.40M $182.70M $166.70M $156.40M $218.80M $216.90M $220.70M $214.40M $204.20M $219.90M
+ Operating Income $269.90M $260.60M $181.70M $127.40M $111.60M $131.70M $116.80M $124.30M $121.70M $100.70M $120.60M $109.60M $124.10M $97.30M $64.10M $6.70M
Operating Margin % 18.7% 18.2% 13.8% 10.0% 8.9% 11.9% 12.1% 12.8% 13.3% 12.2% 15.1% 9.4% 10.5% 8.7% 6.3% 0.5%
Interest Expense $14.00M $5.50M $10.00M $15.10M $19.20M $25.30M $24.30M $22.20M $8.90M - - - - - - -
Income Before Tax $264.10M $254.20M $163.40M $109.00M $98.60M $94.90M $94.10M $82.10M $95.70M - - - - $44.20M $2.70M $-58.90M
Income Tax Expense $64.50M $62.50M $47.50M $23.50M $22.00M $24.50M $22.10M $18.30M $-9.90M $24.20M $33.10M $19.80M $18.00M $8.80M $7.90M $-20.80M
+ Net Income $199.60M $191.70M $115.90M $85.50M $76.60M $70.40M $72.00M $63.80M $105.60M $123.30M $63.90M $30.90M $55.50M $40.80M $-108.40M $-38.10M
Net Margin % 13.8% 13.4% 8.8% 6.7% 6.1% 6.3% 7.5% 6.6% 11.5% 14.9% 8.0% 2.7% 4.7% 3.6% -10.6% -2.8%
Basic EPS 1.29 1.23 0.74 0.55 0.49 0.44 nan 0.40 0.67 0.77 0.40 0.19 0.35 0.26 -0.69 -0.25
Diluted EPS 1.27 1.22 0.74 0.55 0.48 0.44 nan 0.40 0.66 0.76 0.39 0.19 0.34 0.25 -0.69 -0.25
Basic Shares Outstanding 156.3M 156.4M 155.9M 156.3M 157.4M 158.4M 157.8M 157.8M 158.2M 160.1M 161.3M 160.5M 159.2M 157.7M 156.5M 155.3M
Diluted Shares Outstanding 157.3M 157.5M 156.9M 156.8M 158.0M 159.2M 158.6M 159.0M 159.7M 161.8M 163.4M 163.2M 162.2M 160.3M 156.5M 155.3M
Breakdown FY 2025
(Sep 30, 2025)
FY 2024
(Sep 30, 2024)
FY 2023
(Sep 30, 2023)
FY 2022
(Sep 30, 2022)
FY 2021
(Sep 30, 2021)
FY 2020
(Sep 30, 2020)
FY 2019
(Sep 30, 2019)
FY 2018
(Sep 30, 2018)
FY 2017
(Sep 30, 2017)
FY 2016
(Sep 30, 2016)
FY 2015
(Sep 30, 2015)
FY 2014
(Sep 30, 2014)
FY 2013
(Sep 30, 2013)
FY 2012
(Sep 30, 2012)
FY 2011
(Sep 30, 2011)
Cash & Cash Equivalents - - - - $227.50M $208.90M $176.70M $347.10M $361.70M $195.00M $113.10M $161.10M $123.60M $83.00M $61.20M
Accounts Receivable $211.90M $208.90M $217.10M $228.00M $212.20M $180.80M $172.80M $164.30M $145.30M $186.70M $175.30M $182.10M $164.50M $166.10M $220.80M
Inventory $328.70M $301.70M $297.90M $278.70M $184.70M $162.50M $191.40M $156.60M $138.90M $213.80M $219.10M $198.00M $208.50M $183.20M $237.70M
Other Current Assets $56.80M $37.90M $31.50M $26.80M $29.30M $29.00M $26.00M $17.50M $24.40M $16.80M $13.70M $44.10M $46.10M $38.00M $50.40M
Total Current Assets $1.03B $858.40M $706.80M $680.00M $653.70M $581.20M $566.90M $685.50M $670.30M $612.30M $549.50M $623.90M $569.40M $489.90M $598.80M
Property Plant & Equipment $335.70M $318.80M $311.70M $301.60M $283.40M $253.80M $217.10M $150.90M $122.30M $155.10M $148.90M $146.30M $141.90M $144.70M $243.80M
Goodwill $89.20M $80.70M $93.70M $98.60M $115.10M $99.80M $95.70M $12.10M - - - - - - -
Intangible Assets $307.30M $309.70M $334.00M $361.20M $392.50M $408.90M $433.70M $408.10M - - - - $553.10M $573.70M $610.90M
Other Non-current Assets $77.80M $68.30M $58.80M $56.70M $73.30M $51.30M $23.90M $35.30M $26.40M $27.20M $24.10M $13.30M $17.50M $32.60M $31.50M
Total Assets $1.84B $1.64B $1.50B $1.50B $1.52B $1.40B $1.34B $1.29B $1.26B $1.28B $1.23B $1.32B $1.28B $1.24B $1.49B
Accounts Payable $134.40M $109.90M $102.90M $122.80M $92.00M $67.30M $84.60M $90.00M $82.50M $100.80M $98.70M $116.00M $101.20M $84.50M $107.60M
Accrued Liabilities $154.70M $147.30M $115.20M $117.40M $127.10M $86.60M $93.00M $76.40M $53.50M - - - - - -
Other Current Liabilities - - $11.00M $7.60M $11.20M $4.80M $5.00M - $53.50M $79.10M $63.20M $82.20M $80.60M $82.80M $86.30M
Total Current Liabilities $290.30M $258.00M $218.80M $241.00M $220.10M $155.00M $178.50M $167.10M $141.60M $185.80M $168.00M $244.40M $183.10M $168.40M $194.80M
Long-term Debt $450.40M $448.70M $446.70M $446.10M $445.90M $446.50M $445.40M $444.30M $475.00M $479.20M $482.90M $499.40M $599.50M $621.70M $677.40M
Other Non-current Liabilities $65.50M $63.70M $54.20M $55.40M $62.00M $56.30M $33.20M $36.50M $37.10M $86.20M $65.80M $71.30M $29.60M $86.80M $79.60M
Total Liabilities $857.20M $825.80M $793.50M $828.80M $823.10M $754.30M $745.00M $727.10M $768.80M $861.10M $862.00M $965.50M $953.70M $1.01B $1.11B
Common Stock $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M $1.60M
Retained Earnings $-174.20M $-365.90M $-481.80M $-567.30M $-643.90M $-714.20M $-786.20M $-850.00M $-955.60M $-1.08B $-1.14B $-1.17B $-1.23B $-1.27B $-1.16B
Total Stockholders Equity $981.70M $810.10M $711.50M $669.30M $694.90M $640.70M $590.10M $563.30M $488.40M $418.30M $366.30M $350.00M $328.20M $231.20M $379.00M
Total Liabilities & Equity $1.84B $1.64B $1.50B $1.50B $1.52B $1.40B $1.34B $1.29B $1.26B $1.28B $1.23B $1.32B $1.28B $1.24B $1.49B
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Sep 30, 2025)
FY 2024
(Sep 30, 2024)
FY 2023
(Sep 30, 2023)
FY 2022
(Sep 30, 2022)
FY 2021
(Sep 30, 2021)
FY 2020
(Sep 30, 2020)
FY 2019
(Sep 30, 2019)
FY 2018
(Sep 30, 2018)
FY 2017
(Sep 30, 2017)
FY 2016
(Sep 30, 2016)
FY 2015
(Sep 30, 2015)
FY 2014
(Sep 30, 2014)
FY 2013
(Sep 30, 2013)
FY 2012
(Sep 30, 2012)
FY 2011
(Sep 30, 2011)
Net Income $199.60M $191.70M $115.90M $85.50M $76.60M $70.40M $72.00M $63.80M $105.60M $123.30M $63.90M $30.90M $55.50M $40.80M $-108.40M $-38.10M
Stock-based Compensation $19.20M $10.70M $9.00M $8.50M $8.70M $8.10M $5.30M $4.30M $5.20M $6.00M $5.20M $4.80M $8.60M $7.10M $5.10M $5.50M
Deferred Income Tax $-3.10M $-7.00M $-21.50M $-14.40M $-3.50M $-5.30M $7.20M $1.30M $-43.30M $-5.70M $-7.50M $6.90M $15.60M $7.30M $7.60M $-22.20M
Change in Receivables $-65.70M $2.40M $-8.40M $-10.90M $17.80M $29.90M $7.50M $1.40M $18.90M $9.90M $11.10M $-3.50M $16.90M $-900.00K $17.60M $18.40M
Change in Inventory $86.40M $27.30M $8.00M $19.90M $98.30M $23.50M $-24.90M $17.40M $18.40M $1.90M $-5.50M $24.60M $-11.00M $25.90M $6.00M $-29.30M
Change in Payables $16.20M $17.50M $6.80M $-19.70M $32.20M $23.00M $-17.60M $-11.00M $7.70M $8.40M - - - - - -
Operating Cash Flow $348.90M $219.30M $238.80M $109.00M $52.30M $156.70M $140.30M $92.50M $133.10M - - - - - - $40.10M
Capital Expenditure $73.70M $47.30M $47.40M $47.60M $54.70M $62.70M $67.70M $86.60M $55.70M $40.60M $39.40M $37.50M $36.90M $35.60M $31.40M $31.50M
Acquisitions - - - - $200.00K $19.70M - $127.50M - $26.60M - $-300.00K $10.00M $1.10M $1.30M $9.20M
Investing Cash Flow $-85.20M $-47.10M $-47.20M $-42.10M $-54.90M $-81.70M $-67.50M $-211.80M $-47.90M - - - - - - $-39.30M
Debt Repayment - - - - - - - - - - - - $55.70M - $57.20M $15.00M
Stock Issued $9.30M $4.70M $7.70M $2.70M $2.00M $1.90M $3.50M $5.20M $7.30M $5.80M $3.30M $3.30M $4.20M $3.10M $200.00K $1.00M
Stock Repurchased $25.50M $15.00M $10.00M $10.00M $35.00M $10.00M $5.00M $10.00M $30.00M $55.00M - $5.00M - - - -
Dividends Paid $73.80M $41.90M $39.90M $38.10M $36.50M $34.80M $33.10M $32.00M $30.10M $24.00M $16.10M $12.00M $11.20M $11.00M $11.00M $10.90M
Financing Cash Flow $-104.80M $-58.30M $-46.00M $-48.80M $-72.00M $-58.80M $-41.40M $-50.90M $-98.30M - - - - - - $-22.90M
Net Change in Cash $169.00M $121.60M $149.60M $13.80M $-81.00M $18.60M $32.20M $-170.40M $-14.60M $166.70M $81.90M $-48.00M $37.50M $40.60M $22.00M $-22.50M
SEC Filing Format - Data shown as it appears in the Q1 2026 (10-Q) filing Period ended: Dec 31, 2025
Condensed Consolidated Statements of Operations
Description Dec 31, 2025
Current Prior Year
Total Revenue $318.20M $304.30M
Cost of Revenue $198.40M $201.30M
Gross Profit $119.80M $103.00M
Operating Expenses $63.10M $55.60M
Selling General & Admin $59.80M $53.90M
Operating Income $56.70M $47.40M
Interest Expense $5.30M $5.80M
Other Income/Expense $-1.00M $-1.60M
Income Before Tax $55.70M $45.80M
Income Tax Expense $12.50M $10.50M
Net Income $43.20M $35.30M
Basic EPS 0.28 0.23
Diluted EPS 0.27 0.22
Condensed Consolidated Balance Sheets
Description Dec 31, 2025 Sep 30, 2025
Accounts Receivable $137.10M $211.90M
Inventory $376.70M $328.70M
Other Current Assets $55.50M $56.80M
Total Current Assets $1.03B $1.03B
Property Plant & Equipment $341.70M $335.70M
Goodwill $92.10M $89.20M
Intangible Assets $307.00M $307.30M
Other Non-current Assets $77.10M $77.80M
Total Assets $1.85B $1.84B
Accounts Payable $127.50M $134.40M
Accrued Liabilities $127.10M $154.70M
Deferred Revenue $7.20M -
Other Current Liabilities $66.00M $66.40M
Total Current Liabilities $256.00M $290.30M
Long-term Debt $450.90M $450.40M
Other Non-current Liabilities $64.10M $65.50M
Total Liabilities $828.60M $857.20M
Common Stock $1.60M $1.60M
Retained Earnings $-131.00M $-174.20M
Total Stockholders Equity $1.02B $981.70M
Total Liabilities & Equity $1.85B $1.84B
Condensed Consolidated Statements of Cash Flows
Description Dec 31, 2025
Current Prior Year
Net Income $43.20M $35.30M
Depreciation & Amortization $12.10M $11.10M
Stock-based Compensation $3.50M $2.50M
Deferred Income Tax $6.20M $-600.00K
Change in Receivables $-75.10M $-62.90M
Change in Inventory $49.60M $20.80M
Change in Payables $-7.30M $-10.80M
Operating Cash Flow $61.20M $54.10M
Capital Expenditure $17.20M $11.90M
Investing Cash Flow $-17.10M $-11.90M
Stock Issued $700.00K $1.60M
Stock Repurchased $5.50M -
Dividends Paid $10.90M $10.50M
Financing Cash Flow $-19.60M $-13.10M
Net Change in Cash $28.10M $28.30M

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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