Short answer
Mueller Water Products, Inc. (MWA) filed its fiscal 2025 10-K annual report with the SEC on Nov 19, 2025. It reported revenue of $1.4B (+8.7% year over year) and net income of $192M.
- Top risk flagged: Legal risk from ongoing litigation and environmental remediation with uncertain potential liabilities requiring accrual adjustments
FY2025 key financial metrics · XBRL
- Revenue
- $1.4B
- +8.7% YoY
- Net income
- $192M
- +65.4% YoY
- Operating margin
- 18.2%
- +4.4 pp YoY
- Gross margin
- 36.1%
- +1.2 pp YoY
- EPS (diluted)
- $1.22
- +64.9% YoY
- ROE
- 19.5%
- +5.2 pp YoY
- Operating cash flow
- $219M
- −8.2% YoY
Source: XBRL data from the Mueller Water Products, Inc. (MWA) FY2025 10-K on SEC EDGAR. USD.
Mueller Water Products, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business manufacturing water transmission, distribution, and measurement products for North American municipalities and construction
- Two operating segments: Water Flow Solutions and Water Management Solutions emphasized in segment reporting
- Strong installed base with leading iron gate valves and fire hydrants in top 100 U.S. metropolitan areas
- Fiscal 2025 net sales $1,429.7 million, highlighting scale and market presence
- Notable longstanding distributor and end-user relationships supporting brand strength and market position
Management Discussion & Analysis
- Revenue $1,429.7M in 2025, up 8.7% YoY ($115.0M increase) due to higher volumes and pricing across most products
- Operating margin 18.2% in 2025 ($260.6M operating income) vs 13.8% in 2024 ($181.7M), gross margin 36.1% vs 34.9%
- Best segment: Water Management Solutions, revenue $604.8M (+8.2%), gross margin 36.4% vs 33.5%; Worst: Corporate with operating loss $(67.2)M
- Cash from operations $219.3M in 2025, down $19.5M YoY; share repurchases $15.0M with $65.0M authorization remaining; capex $47.1M; dividend payout $10.9M expected
- FY2026 outlook: net sales growth 1.4%-2.8%; risks from tariffs (~3% of COGS), inflation, supply chain, and geopolitical factors; plan price increases and cost controls
Risk Factors
- Legal risk from ongoing litigation and environmental remediation with uncertain potential liabilities requiring accrual adjustments
- Macroeconomic risk from warranty cost estimates affected by unpredictable future claims and rising product repair/replacement expenses
- Operational risk in inventory valuation needing quarterly impairment reviews due to production levels and market conditions
- Competitive risk from goodwill impairment sensitivity to forecasted EBITDA margins and discount rates amid industry dynamics
- Financial risk related to potential variability in warranty accruals causing material impacts on reported expenses
Generated from the filing text; verify against the original. How to read a 10-K
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