Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Sep 30, 2025Overview and Growth
In fiscal 2025, Mueller Water Products, Inc. recorded $1.43B of revenue, net income of $191.70M, and an operating cash inflow of $219.30M. The $1.43B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 8.7% from $1.31B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $1.22, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 64.9% increase from fiscal 2024 diluted EPS of $0.74.Profitability
The first profit layer was $516.70M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 36.1%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $260.60M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 18.2%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $191.70M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 13.4% of revenue, connecting the absolute net income figure with the company’s top-line scale. Before income taxes, the company reported $254.20M of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 17.8%, adding a pre-tax profitability layer between revenue and net income. The reported income-tax provision was $62.50M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 24.6%, without assuming a statutory-rate comparison.Liquidity and Capital Structure
The company held $1.84B of assets against $857.20M of liabilities and $981.70M of equity, revealing how the asset base was financed. Current assets were $1.03B against $290.30M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 3.54x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $431.50M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 148.6% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $451.60M of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 0.46x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 24.6%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 46.6%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 23.5%, comparing reported cash and equivalents with the full positive asset balance.Cash Flow and Earnings Quality
Cash flow from operations was $219.30M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.14x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $47.30M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 21.6% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $172.00M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 12.0%, showing how much sales converted into cash after investment. Measured against total assets, free cash flow represented 9.4%, showing the cash productivity of the company’s assets.
Based on the annual report for the fiscal year ending Sep 30, 2025.
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