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Our Company Mueller Water Products, Inc. ( Mueller, we, our, or the Company ) is a leading manufacturer and marketer of products and solutions used in the transmission, distribution and measurement of water in North America. Our products and solutions are used by municipalities and the residential and non-residential construction industries.
18.23% operating margin is respectable but not wide. ROIC at 14.38%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 8.7%, steady but not accelerating. Free cash flow declined 10% despite revenue growth, conversion is weakening.
Free cash flow declined 10% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$1.46B
▲ +8.7% YoY
Net Income (TTM)
$207M
▲ +65.4% YoY
Op. Margin
19.16%
▲ +4.4pp YoY
ROIC
14.49%
▲ +3.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$141M
▼ -10.1% YoY
Op. Cash Flow (TTM)
$199M
▼ -8.2% YoY
Net Debt
$31M
Cash & Equiv.
$421M
5Y CAGR: +8.2%
5Y CAGR: +18.8%
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