MWA
Mueller Water Products, Inc.

Mueller Water Products, Inc.MWA

Industrials · Specialty Industrial Machinery
24.05USD
-2.35%
Nov 09, 2026
MWA overview ready
Supplier of Water-Distribution Hardware and Management Systems to Municipalities
Mueller is a physical water-network infrastructure supplier to municipal utilities, providing engineered flow-control, connection, repair, measurement, pressure-management, leak-detection, and condition-assessment products used in water transmission and distribution systems.
Primary theme is improving
Water Infrastructure is improving (+15.7pp vs SPY over 21 sessions; 8 of 9 members ahead of SPY).
An early price trend
Longer-term context reads established trend, with a near-term setup of reclaim attempt.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably….
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on municipal capital spending cycles.
Market Nov 6Filing Jun 30Price action Nov 8Research Oct 29

Conviction Level

PriceAction9.1BusinessPerformance5.0BusinessQuality8.2Valuation4.6ThemeMomentum7.0Mixed — Revenue is growing at a steady pace (+4.1% year over year). Reported earnings improved faster than operating income, so most of the improvement did not come from operations. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
+15.7pp
Theme return
+10.7%
Beating SPY
8 of 9
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
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Price Action

An early price trend
Longer-term context reads established trend, with a near-term setup of reclaim attempt.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$3.8B
Avg Volume (60D)
1.6M
60 sessions
Revenue Growth YoY
+8.7%
FY2025 vs FY2024
Gross Margin
+37.9%
Trailing twelve months
Operating Margin
+19.4%
Trailing twelve months
Free Cash Flow Yield
+4.8%
Distance from 200DMA
-6.5%
Next Earnings
2027-02-04
P/E
16.9x
EV / EBITDA
11.0x
EV / Sales
2.5x
Market metrics as of Nov 6, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Business Performance

Mixed

Revenue is growing at a steady pace (+4.1% year over year). Reported earnings improved faster than operating income, so most of the improvement did not come from operations.

Latest reported: Q3 FY2026, ended Jun 30
Revenue growthGrowing
+4.1%
$396M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +9.4%
  2. +4.6%
  3. +5.5%
  4. +4.1%
Earnings growthAccelerating
+30%
Diluted EPS $0.43 vs $0.33 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +450%
  2. +23%
  3. +15%
  4. +30%
Operating marginStable
20.4%
+1.0 pp YoY · gross margin 39.4% (+1.0 pp)
Earnings improved more than operations did

Business Quality

8.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

All three valuation perspectives agree this company is fair.
Mueller Water Products, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Mueller is a physical water-network infrastructure supplier to municipal utilities, providing engineered flow-control, connection, repair, measurement, pressure-management, leak-detection, and condition-assessment products used in water transmission and distribution systems.
Opportunity
Moderate opportunity
Utility and municipal investment in renewing aging drinking-water distribution networks, reducing non-revenue water, improving system visibility, and increasing reliability through valves, hydrants, metering, pressure management, leak detection, and pipe-repair equipment.
Key risk
Dependence on municipal capital spending cycles.

Economic classification

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Business & Markets

Industrials · Specialty Industrial Machinery
What they do

Mueller Water Products manufactures and markets valves and water management products used in the transmission, distribution, and measurement of water for municipal and construction markets in North America and internationally. It operates through two segments: Water Flow Solutions and Water Management Solutions.

How it earns

Primarily transactional revenue from the sale of water infrastructure products and related services.

Products & services
Iron gate valves
Butterfly valves
Tapping valves
Check valves
Knife valves
Plug valves
Ball valves
Water meters
Pressure management systems
Leak detection systems
Customers & end markets
Municipal water utilities
Residential construction industry
Non-residential construction industry
Market position

Leader in supplying essential water-distribution hardware and management systems for municipal infrastructure projects.

Demand drivers
Medium cyclicality

Demand depends on municipal capital expenditure cycles and construction activity, which can fluctuate with economic conditions.

Peers

Companies validated as economically comparable to MWA — similar business, revenue model and scale.
PRICE ACTIONVALUATIONTHEME
Xylem Inc.Damaged Structure — Distribution PressureFair8.0HighUnavailableNot in RS poolLocked$97.83−2.22%
Zurn Elkay Water Solutions CorporationTrend Under Pressure — Failed ReclaimFair8.0HighUnavailableNot in RS poolLocked$43.47−0.87%
Badger Meter, Inc.Early Recovery — Daily ReclaimFair8.0HighUnavailableNot in RS poolLocked$158.18−0.86%
Pentair plcEarly Recovery — Reclaim AttemptFair6.0MediumUnavailableNot in RS poolLocked$68.12−2.36%