MWA on NYSE

Mueller Water Products

Logo: Kopiersperre ( talk ), Public domain, via Wikimedia Commons4

American water product manufacturer

Mueller Water Products, Inc. (MWP) is a publicly traded company headquartered in Atlanta, Georgia.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 18, 2026.

Overview

$1.4BRevenue, fiscal 20255
$191.7MNet income, fiscal 20255
2005Founded1

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  • TickerMWA on NYSE1
  • IndustryMiscellaneous Fabricated Metal Products1
  • HeadquartersAtlanta1
  • Websitewww.muellerwaterproducts.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address1200 Abernathy Rd, Ne, Suite 1200, Atlanta, Ga 303286
  • Filer categoryLarge accelerated filer6

Mueller Water Products, Inc. (MWP) is a publicly traded company headquartered in Atlanta, Georgia. It is one of the largest manufacturers and distributors of fire hydrants, gate valves, and other water infrastructure products in North America. MWP is made up of two business units—Mueller Co. and Mueller Technologies—that oversee more than a dozen brands and affiliates, including Echologics and Mueller Systems.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

36.1%Gross margin5
18.2%Operating margin5
13.4%Net margin5
8.7%Revenue growth, 20255
19.5%Return on equity5
0.46×Debt to equity5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Water Flow Solutions brought in 58% of the revenue Mueller Water Products broke down this way in fiscal 2025.

  1. Water Flow Solutions$824.9M558%up 9% from 2024
  2. Water Management Solutions$604.8M542%up 8% from 2024
Business segments by year
Business segments202320242025
Water Flow Solutions$634.4M$755.5M$824.9M
Water Management Solutions$641.3M$559.2M$604.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue63¢$913.0M
  • Research and development1¢$19.9M
  • Selling, general and admin17¢$247.3M
  • Interest1¢$20.0M
  • Income tax4¢$62.5M
  • Profit13¢$191.7M

Out of $1.4B in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid19¢$41.9M
  • Share buybacks7¢$15.0M
  • Kept or used elsewhere74¢$162.4M

Out of $219.3M of cash from operations.5

Financial statements

Revenue891011125$1.4B in 2025+56% since 2018
0$500.0M$1.0B$1.5B2018: $916.0M$916.0M20182019: $968.0M$968.0M2019+6%2020: $964.1M$964.1M2020−0%2021: $1.1B$1.1B2021+15%2022: $1.2B$1.2B2022+12%2023: $1.3B$1.3B2023+2%2024: $1.3B$1.3B2024+3%2025: $1.4B$1.4B2025+9%
Gross profit891011125$516.7M in 2025+78% since 2018
0$200.0M$400.0M$600.0M2018: $289.9M$289.9M20182019: $320.9M$320.9M2019+11%2020: $328.2M$328.2M2020+2%2021: $358.5M$358.5M2021+9%2022: $364.3M$364.3M2022+2%2023: $379.5M$379.5M2023+4%2024: $459.0M$459.0M2024+21%2025: $516.7M$516.7M2025+13%
Operating income891011125$260.6M in 2025+114% since 2018
0$100.0M$200.0M$300.0M2018: $121.7M$121.7M20182019: $124.3M$124.3M2019+2%2020: $116.8M$116.8M2020−6%2021: $131.7M$131.7M2021+13%2022: $111.6M$111.6M2022−15%2023: $127.4M$127.4M2023+14%2024: $181.7M$181.7M2024+43%2025: $260.6M$260.6M2025+43%
Net income891011125$191.7M in 2025+82% since 2018
0$50.0M$100.0M$150.0M$200.0M2018: $105.6M$105.6M20182019: $63.8M$63.8M2019−40%2020: $72.0M$72.0M2020+13%2021: $70.4M$70.4M2021−2%2022: $76.6M$76.6M2022+9%2023: $85.5M$85.5M2023+12%2024: $115.9M$115.9M2024+36%2025: $191.7M$191.7M2025+65%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-09-302024-09-302023-09-30
Revenues$1.4B$1.3B$1.3B
Cost of sales$913.0M$855.7M$896.2M
Gross profit$516.7M$459.0M$379.5M
Selling, general and administrative$247.3M$245.2M$241.9M
Restructuring Charges$8.8M$15.8M$10.2M
Goodwill, Impairment Loss$0$16.3M$0
Total operating expenses$256.1M$277.3M$252.1M
Operating income$260.6M$181.7M$127.4M
Pension (benefit) expense other than service-$200.0K$4.0M$3.7M
Interest expense, net$6.6M$12.7M$14.7M
Other expense$0$1.6M$0
Income before income taxes$254.2M$163.4M$109.0M
Income tax expense (benefit)$62.5M$47.5M$23.5M
Net income$191.7M$115.9M$85.5M
Net income (loss) per basic share$1.23$0.74$0.55
Net income (loss) per diluted share$1.22$0.74$0.55
Basic, in shares156.4M shares155.9M shares156.3M shares
Diluted, in shares157.5M shares156.9M shares156.8M shares
Dividends declared per share, in dollars per share$0.27$0.26$0.24

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The story

Mueller Water Products was incorporated as a standalone business on September 22, 2005, but the company traces the history of its business units, subsidiaries and brands back as far as 1857, when the forerunner to Mueller Co. was founded by Hieronymus Mueller in Decatur, Illinois. Providence Steam and Gas Pipe became General Fire Extinguisher Co. in 1892 after merging with several sprinkler manufacturers, and was later renamed Grinnell Co. in 1919, after the company's president, Frederick Grinnell. In 1899, 12 companies incorporated as United States Cast Iron Pipe and Foundry Company, which would later be known as U.S. Pipe after dropping "cast iron" from the company name in 1929. Grinnell Co. became known as Anvil International in 2000.

Jim Walter Corporation acquired U.S. Pipe in 1969, and in 2005, it acquired Mueller Co. and Anvil International. The three businesses were combined to form Mueller Water Products. The combined entity was then spun off as the publicly held Mueller Water Products, Inc. in 2006, moving its headquarters from the company's birthplace of Decatur, Illinois, to Atlanta, Georgia. Initially, MWP operated with three business units—Mueller Co., Anvil International, and U.S. Pipe. However, in 2012 Mueller Water Products divested U.S. Pipe to Wynnchurch Capital, Ltd., retaining only the valve and hydrant division, which now operates under the Mueller Co. business unit. Early in 2017 Mueller Water Products sold its Anvil International division to One Equity Partners and also completed the acquisition of Singer Valve, a manufacturer of automatic control valves.

From Wikipedia’s article on Mueller Water Products, shared under CC BY-SA 4.0.7

Leadership

Who has led Mueller Water Products, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (54)

Timeline

  1. Feb 12, 2026New chief executive Paul McAndrew becomes CEO16
  2. Sep 5, 2023New chief executive Marietta Edmunds Zakas becomes CEO17
  3. Jan 25, 2017New chief executive J. Scott Hall becomes CEO18
  4. May 25, 2006New chief executive Dale B. Smith becomes CEO19
  5. May 25, 2006New chief executive Gregory E. Hyland becomes CEO20
  6. 2005Founded Founded1

Filings

516 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 68 major events, 344 insider forms, 26 large holders, 58 other. The latest 20:

  1. Oct 13, 20268-K EDGAR
  2. Oct 9, 20264 EDGAR
  3. Sep 21, 2026S-8 EDGAR
  4. Sep 3, 20264 EDGAR
  5. Sep 1, 2026144 EDGAR
  6. Sep 1, 20264 EDGAR
  7. Aug 31, 2026144 EDGAR
  8. Aug 31, 20264 EDGAR
  9. Aug 26, 2026144 EDGAR
  10. Aug 26, 20264 EDGAR
  11. Aug 19, 20264 EDGAR
  12. Aug 10, 2026144 EDGAR
  13. Aug 10, 20264 EDGAR
  14. Aug 6, 202610-Q EDGAR
  15. Aug 5, 20268-K EDGAR
  16. Jul 30, 20263 EDGAR
  17. Jul 8, 20264 EDGAR
  18. Jun 18, 20268-K EDGAR
  19. Jun 10, 20264 EDGAR
  20. Jun 1, 2026SD EDGAR

The 516 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 26 such filings since October 2021, the latest 10:

  1. Apr 30, 2026SCHEDULE 13G
  2. Apr 29, 2026SCHEDULE 13G
  3. Apr 27, 2026SCHEDULE 13G
  4. Mar 27, 2026SCHEDULE 13G/A
  5. Apr 30, 2025SCHEDULE 13G/A
  6. Jan 27, 2025SCHEDULE 13G/A
  7. Jan 8, 2025SCHEDULE 13G
  8. Nov 8, 2024SC 13G/A
  9. Oct 31, 2024SCHEDULE 13G
  10. Oct 15, 2024SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.25,686,966$663.5M0.0%+551,943
Vanguard Portfolio Management LLC11,572,350$298.9M0.0%+223,219
Vanguard Capital Management LLC7,033,404$181.7M0.0%+15,681
State Street Corp6,330,173$163.5M0.0%+98,002
First Trust Advisors LP6,103,655$157.7M0.1%+66,976
Fiduciary Management Inc /wi/5,902,018$152.4M2.2%+1,745,819
Geode Capital Management, LLC5,029,693$129.9M0.0%+371,086
Fuller & Thaler Asset Management, Inc.4,905,739$126.7M0.3%−261,937
Franklin Resources Inc4,771,990$123.3M0.0%+1,395,015
Dimensional Fund Advisors LP3,749,755$96.9M0.0%+146,215
Impax Asset Management Group plc2,967,471$76.6M0.5%+19,190
Amundi2,873,433$74.2M0.0%+611,798
American Century Companies Inc2,701,300$69.8M0.0%−171,658
Principal Financial Group Inc2,662,926$68.8M0.0%−157,171
Gamco Investors, Inc. Et Al2,538,072$65.6M0.6%−11,395
Nuveen, LLC2,348,904$60.7M0.0%+535,930
Morgan Stanley2,273,797$58.7M0.0%+106,095
Jupiter Topco LLC2,205,138$57.0M0.0%New
Charles Schwab Investment Management Inc1,874,750$48.4M0.0%+18,398
Northern Trust Corp1,693,743$43.7M0.0%+106,778
Federated Hermes, Inc.1,671,887$43.2M0.1%+208,738
Invesco Ltd.1,657,446$42.8M0.0%−368,327
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.1,631,597$42.1M0.1%+120,828
Allianz Asset Management GmbH1,167,258$32.1M0.0%No change
UBS Group AG1,241,898$32.1M0.0%+315,247

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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