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Mueller Water Products (MWA) Fair Value & Analysis

Industrials · US · Market cap $3.9B · ISIN US6247581084

What is Mueller Water Products really worth?

MW Mueller Water Products logo Mueller Water Products MWA · US
Price$23.90
Fair Value$18.70
Upside−21.8%
Quality69/100

A solid business, but trading 28% above our fair value of $18.70.

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Strengths

Healthy Growth (revenue 5y +8.2 %/yr)
Solidly profitable · 14.2% net margin
Low debt · generates free cash flow
Ranks above peers (10/15)
Wide moat 69/100

Risks

!Weak on valuation: 4 out of 100
!Weak on future: 28 out of 100
!Weak on dividend: 23 out of 100

For context

·1.15% dividend yield
Evidence: High Range $12.60 – $26.24

Fair value as of: Aug 29, 2026

From 24 valuation models · updated 6 days ago

Share price −10.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($12.60 to $26.24) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$30.29 $9.50 Fair Value $18.70 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range $9.50 – $30.29 · fair‑value band $12.60 – $26.24 · the $23.90 price screens above the $18.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Mueller Water Products (MWA) currently trades at $23.90, while our model-based Fair Value estimate is $18.70, implying the stock looks roughly 27.8% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of $20.83 per share, and 3 of the 24 models we run sit above the $23.90 price. Bear case: the Dividend Discount group reads lowest at $3.30, and 21 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Mueller Water Products generated revenue of $1.5B at a net margin of 14.2%. Revenue grew 5.5% year over year. It earns a return on equity of 21.3%. Net debt stands at $20.1M. Fundamentals as of Aug 29, 2026

Our scenario range runs from $12.60 (bear case) to $26.24 (bull case); at $23.90, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 23% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at −22%, MWA screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly $0.9744 per share, which is 5.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence $10.79 $14.93 $20.47 81
Growth DCF $11.11 $15.01 $20.02 79
Owner Earnings $12.01 $16.62 $22.77 77
All 24 models by family
DCF Models
FCF DCF best evidence $10.79 $14.93 $20.47 81
Owner Earnings $12.01 $16.62 $22.77 77
5Y Revenue Exit $10.68 $15.94 $22.35 73
5Y EBITDA Exit $14.35 $22.36 $31.18 75
5Y P/E Exit $14.42 $22.48 $30.38 71
10Y Revenue Exit $10.31 $14.91 $20.40 67
10Y EBITDA Exit $12.85 $19.11 $26.59 68
10Y P/E Exit $12.90 $19.19 $26.03 64
Earnings-Based
Graham-Dodd $8.33 $17.35 $21.93 66
EPV $11.39 $13.21 $14.77 74
Dividend Discount
Gordon GGM $2.35 $3.44 $4.55 69
DDM Multi-Stage $2.35 $3.30 $4.34 67
Multiples
P/E Multiple $19.30 $25.73 $32.16 63
P/S Multiple $13.71 $18.27 $22.84 58
P/B Multiple $15.62 $20.83 $26.03 55
EV/EBIT $21.11 $28.19 $35.27 66
EV/EBITDA $19.04 $25.43 $31.81 67
EV/Revenue $11.39 $16.33 $21.26 53
Asset-Based
NCAV (Graham) $3.14 $4.20 $6.27 54
Growth DCF
Growth DCF $11.11 $15.01 $20.02 79
Rev-Margin DCF $10.68 $16.09 $21.76 73
Economic Profit
Residual Income $7.75 $10.42 $40.42 64
ROIC Compounder $11.74 $14.13 $16.59 72
Growth Earnings
Growth-Adj P/E $14.13 $20.19 $26.24 67

Widest divergence: Multiples ($20.83) versus Dividend Discount ($3.30). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/E ratio 18.0
P/S ratio 2.41 P/E × margin
EPS (TTM) $1.33 price ÷ EPS = P/E 18.0
Dividend yield 1.1% payout 20.6%
Net margin 13.4% FY2025
Return on equity 21.3% TTM
More key figures
Profitability
Return on assets (EBIT) 10.0% avg 5y
Operating margin 22.1% TTM
Growth
Revenue (TTM) $1.5B TTM
Revenue growth (YoY) +5.5% 3y avg +4.7%
EPS growth (YoY) +15.4%
Balance sheet & cash flow
Free cash flow $172M FY2025
Net debt $20.1M FY2025 · ≈ 0.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 39

Profitability 60
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Mueller Water Products, Inc. manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Canada, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.

Full company description

Mueller Water Products, Inc. manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Canada, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions. The Water Flow Solutions segment provides valves for water systems, such as iron gate, butterfly, tapping, check, knife, plug, and ball valves, which are used to control distribution and transmission of potable water and non-potable water, as well as in water transmission or distribution, water treatment facilities, or industrial applications. It also offers service brass products. The Water Management Solutions segment offers dry-barrel and wet-barrel fire hydrants for water infrastructure development; fire protection systems, and water infrastructure repair and replacement projects; pipe repair products, such as couplings, grips, and clamps used to repair leaks; residential, fire protection, and commercial water metering products and systems; water leak detection and pipe condition assessment products and services; machines and tools for tapping, drilling, extracting, installing, and stopping-off; gas valve products for use in gas distribution systems; and intelligent water solutions, including pressure control valves, advanced pressure management, network analytics, event management, and date logging. It sells its products under the Canada Valve, Centurion, Ez-Max, Hydro Gate, Hydro-Guard, HYMAX, HYMAX VERSA, Jones, Krausz, Milliken, Mueller Systems, Mueller, Pratt, Pratt Industrial, Repamax, Repaflex, Singer, Echologics, Echoshore, ePulse, Hersey, LeakFinderRT, Sentryx, and U.S. Pipe Valve and Hydrant brands. Mueller Water Products, Inc. was founded in 1857 and is headquartered in Atlanta, Georgia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mueller Water Products reported revenue of $1.4B in FY2025 versus $1.1B in FY2021, a compound +6.5%/yr. Reported net income was $192M in FY2025, compounding +28.5%/yr from FY2021.

Growth Quality 86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$1.4B
Latest YoY
+8.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.7%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.2%
Avg. revenue growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.9%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
+23.0% (21.9 + 1.1)
Revenue +6.5%/yr
FY21 $1.1B
FY22 $1.2B
FY23 $1.3B
FY24 $1.3B
FY25 $1.4B
Net income +28.5%/yr
FY21 $70.4M
FY22 $76.6M
FY23 $85.5M
FY24 $116M
FY25 $192M
Character of growth · EPS growth decomposed (2014-2025) +11.7 % p.a.
Revenue per share +3.2 %

of which total revenue +2.7 % · buybacks/dilution +0.4 %

EBIT margin +3.5 %
Tax rate +0.6 %
Residual (interest, one-offs) +4.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

MWA screens 28% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Mueller Water Products Fair Value". https://www.fairvalue-calculator.com/stock/MWA

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Specialty Industrial Machinery · 792 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside −22% · Above median
Return on equity (TTM) 21% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 6% · Above median
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.46× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 18.0× · Cheaper than 75% of peers
P/B 3.96× · Pricier than median
P/S (TTM) 2.66× · Pricier than median
P/FCF 22.6× · Pricier than 75% of peers
EV/EBITDA 11.5× · Cheaper than median
PEG 1.03× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE4 · sector 0
FUTURE28 · sector 21
PAST85 · sector 28
HEALTH77 · sector 96
DIVIDEND23 · sector 27

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $941.84 $131.95 −86%
SIE SIE €289.85 €139.77 −52%
Eaton Corporation ETN $402.78 $168.65 −58%
Parker-Hannifin Corporation PH $995.02 $398.69 −60%
Atlas Copco AB ATCOA kr 206.60 kr 112.59 −46%
Cummins Inc CMI $564.40 $348.94 −38%
Illinois Tool Works Inc ITW $281.67 $145.84 −48%
Emerson Electric Co EMR $155.18 $58.44 −62%
AMETEK, Inc AME $236.25 $125.80 −47%
Rockwell Automation, Inc ROK $417.53 $125.76 −70%

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Frequently asked questions

Is Mueller Water Products (MWA) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of $18.70 versus a price of $23.90, about −22% upside (overvalued).
What is the fair value of MWA?
Our model-based fair value for Mueller Water Products is $18.70 (as of Aug 29, 2026), built from audited fundamentals. The current price: $23.90.
What is the quality score of MWA?
Mueller Water Products has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Mueller Water Products (MWA)?
Mueller Water Products reported trailing-twelve-month revenue of about $1.5B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of MWA?
The net profit margin of Mueller Water Products is about 14.2%, meaning it keeps roughly 14.2% of revenue as net income. Based on the latest reported figures.
Does Mueller Water Products pay a dividend?
Mueller Water Products currently shows a dividend yield of about 1.15% relative to its recent price (as of Aug 29, 2026).
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