MUELLER WATER PRODUCTS, INC.

MWA · Industrials · $4.0B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power54

Median gross margin 32.8% over 10y, very stable.

Returns on capital59

Median ROIC 11.4%, above the 9% hurdle in 90% of years.

Balance-sheet safety82

Net debt/EBITDA 0.1x, interest coverage 13x.

Capital discipline85

Owner earnings +11.5%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

122% above value

Owner earnings (normalized): $100.4M
Est. intrinsic value / share: $11.56
Recent price: $25.65
Discount to value: 122% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MWA. See the disclaimer.