MWA
Mueller Water Products, Inc.
MWA's fundamentals are strong and it looks cheap: trading at 17x earnings, below its usual 27x. Analysts expect earnings growth.
MWA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Strong |
MWA's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
MWA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $24.01 | — |
| Current | 17x | $24.01 | — |
| Cheap | 20x | $28.07 | +17% |
| Fair | 27x | $38.09 | +59% |
| Expensive | 31x | $43.62 | +82% |
Historical ranges are pointers, not guarantees.
MWA's PE is in its cheap range at 17x. If earnings grow as analysts expect, today's price would be 15x next year's earnings.
MWA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect MWA's earnings to grow and its profitability to improve, with its revenue holding steady.
MWA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.57 | +11% |
| Q2 2026 | $1.42 | +49% |
| Q1 2026 | $1.32 | +43% |
| Q4 2025 | $1.27 | +46% |
| Q3 2025 | $1.22 | +65% |
| Q2 2025 | $0.95 | +22% |
| Q1 2025 | $0.92 | +44% |
| Q4 2024 | $0.87 | +74% |
| Q3 2024 | $0.74 | +35% |
MWA's earnings per share have climbed steadily: $1.42 over the past year, up 49% from the year before, and higher year over year for 10 quarters in a row.
MWA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $395.9M | +4.1% |
| Q1 2026 | $384.4M | +5.5% |
| Q4 2025 | $318.2M | +4.6% |
| Q3 2025 | $380.8M | +9.4% |
| Q2 2025 | $380.3M | +6.6% |
| Q1 2025 | $364.3M | +3.1% |
| Q4 2024 | $304.3M | +19% |
| Q3 2024 | $348.2M | +16% |
MWA's revenue has grown year over year for 10 quarters in a row: $396M last quarter, up 4.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 20% | +1 points |
| Q1 2026 | 21% | +1.7 points |
| Q4 2025 | 18% | +2.2 points |
| Q3 2025 | 18% | +10 points |
| Q2 2025 | 19% | +0.6 points |
| Q1 2025 | 19% | +1.2 points |
| Q4 2024 | 16% | +6.7 points |
| Q3 2024 | 8.2% | -0.1 points |
MWA's operating margin was 20% last quarter, up 1 points from the same quarter a year ago, near the top of its range since 2019.
MWA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $94.1M | +69% |
| Q1 2026 | -$27.5M | -639% |
| Q4 2025 | $44M | +4.3% |
| Q3 2025 | $69M | -1.3% |
| Q2 2025 | $55.7M | -26% |
| Q1 2025 | $5.1M | +$20.9M |
| Q4 2024 | $42.2M | -32% |
| Q3 2024 | $69.9M | +69% |
MWA generated $180M in free cash flow over the past year, up 3.9% from the year before.
MWA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -100K shares |
| 1 year | -0.1% | -100K shares |
| 3 years | +0.1% | +100K shares |
| 5 years | -1.3% | -2M shares |
| Available history | -1.1% | -1.7M shares |
MWA has 157M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $10M |
| Q1 2026 | — |
| Q4 2025 | $5.5M |
| Q3 2025 | — |
| Q2 2025 | $10M |
| Q3 2024 | — |
| Q2 2024 | — |
| Q3 2023 | $10M |
MWA spent $16M buying back its own shares over the past year.
MWA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.1x | Net Cash |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.4x | Very low |
| Q3 2024 | 0.6x | Very low |
MWA has more cash than debt.
MWA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.0 | Neutral |
| Stochastic | 39.0 | Neutral |
MWA's weekly RSI is 49 (neutral) and its Stochastic is 39 (neutral).
MWA PE vs Industrials Sector
| Metric | MWA | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 24x | 29% below |
| PE % | 8 | 58 | 50 pts below |
MWA is trading at 17x earnings, a 29% discount to the Industrials sector's median of 24x.
MWA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $22.5 | 6.8% above |
| 20 week MA | $23.8 | 0.7% above |
| 50 week MA | $25.6 | 6.4% below |
| 100 week MA | $25.3 | 5% below |
| 200 week MA | $20.8 | 15% above |
MWA's trend is mixed: it's above three of its five weekly moving averages, and 15% above its 200-week average.
MWA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.9 | $12.1 | +2.1% |
| 2021 | $12.1 | $14.1 | +16% |
| 2022 | $14.1 | $10.8 | -24% |
| 2023 | $10.8 | $14.4 | +34% |
| 2024 | $14.4 | $22.6 | +57% |
| 2025 | $22.6 | $24.8 | +9.7% |
| 2026 YTD | $24.8 | $24.0 | -3.1% |
MWA has finished higher in five of the last six years. It's down 3.1% so far in 2026.