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Mueller Water Products vs Watts Water Technologies: revenue, profit, margins and growth compared

Mueller Water Products brought in $1.4B of revenue in fiscal 2025, Watts Water Technologies $2.4B in fiscal 2025. Revenue changed by +8.7% at Mueller Water Products and +8.3% at Watts Water Technologies on the year before, so Mueller Water Products grew faster. Mueller Water Products kept 13.4% of its revenue as net profit, Watts Water Technologies 14.0%. Free cash flow was $172M at Mueller Water Products and $356.3M at Watts Water Technologies.

Open the MWA pageOpen the WTS page

Side by side, latest fiscal year

MWAWTS
Fiscal year endedFY2025 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$1.4B$2.4B
Revenue growth+8.7%+8.3%
Net income$191.7M$340.8M
Net margin13.4%14.0%
Free cash flow$172M$356.3M
Free cash flow margin12.0%14.6%
Earnings per share (diluted)$1.22$10.17
Cash$431.5M$405.5M
Debt$451.6M$197.7M
Price to earnings17.735.2
Market value$3.4B$11.9B
Dividend yield1.24%0.56%
Rank by revenue in sector#248 of 451 · Industrials#203 of 451 · Industrials

Over the years

Revenue
MWA FY2018: $916MMWA FY2019: $968MMWA FY2020: $964.1MMWA FY2021: $1.1BMWA FY2022: $1.2BMWA FY2022: $1.3BMWA FY2024: $1.3BMWA FY2025: $1.4BWTS FY2018: $1.6BWTS FY2019: $1.6BWTS FY2020: $1.5BWTS FY2021: $1.8BWTS FY2022: $2BWTS FY2023: $2.1BWTS FY2024: $2.3BWTS FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
MWA $1.4BWTS $2.4B
Net income
MWA FY2018: $105.6MMWA FY2019: $63.8MMWA FY2020: $72MMWA FY2021: $70.4MMWA FY2022: $76.6MMWA FY2022: $85.5MMWA FY2024: $115.9MMWA FY2025: $191.7MWTS FY2018: $128MWTS FY2019: $131.5MWTS FY2020: $114.3MWTS FY2021: $165.7MWTS FY2022: $251.5MWTS FY2023: $262.1MWTS FY2024: $291.2MWTS FY2025: $340.8MFY18FY19FY20FY21FY22FY23FY24FY25
MWA $191.7MWTS $340.8M
Net margin
MWA FY2018: 11.5%MWA FY2019: 6.6%MWA FY2020: 7.5%MWA FY2021: 6.3%MWA FY2022: 6.1%MWA FY2022: 6.7%MWA FY2024: 8.8%MWA FY2025: 13.4%WTS FY2018: 8.2%WTS FY2019: 8.2%WTS FY2020: 7.6%WTS FY2021: 9.2%WTS FY2022: 12.7%WTS FY2023: 12.7%WTS FY2024: 12.9%WTS FY2025: 14.0%FY18FY19FY20FY21FY22FY23FY24FY25
MWA 13.4%WTS 14.0%
Revenue growth
MWA FY2019: +5.7%MWA FY2020: -0.4%MWA FY2021: +15.2%MWA FY2022: +12.3%MWA FY2022: +2.3%MWA FY2024: +3.1%MWA FY2025: +8.7%WTS FY2019: +2.3%WTS FY2020: -5.7%WTS FY2021: +19.9%WTS FY2022: +9.4%WTS FY2023: +3.9%WTS FY2024: +9.5%WTS FY2025: +8.3%FY19FY20FY21FY22FY23FY24FY25
MWA +8.7%WTS +8.3%
Free cash flow
MWA FY2018: $77.4MMWA FY2019: $5.9MMWA FY2020: $72.6MMWA FY2021: $94MMWA FY2022: -$2.4MMWA FY2022: $61.4MMWA FY2024: $191.4MMWA FY2025: $172MWTS FY2018: $133.5MWTS FY2019: $164.8MWTS FY2020: $185MWTS FY2021: $154.1MWTS FY2022: $195.9MWTS FY2023: $281.1MWTS FY2024: $325.8MWTS FY2025: $356.3MFY18FY19FY20FY21FY22FY23FY24FY25
MWA $172MWTS $356.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Mueller Water Products and Watts Water Technologies

Which is bigger by revenue, Mueller Water Products or Watts Water Technologies?

Watts Water Technologies is bigger by revenue: $2.4B in fiscal 2025, against $1.4B for Mueller Water Products in fiscal 2025.

Which keeps more of its revenue as profit, Mueller Water Products or Watts Water Technologies?

Mueller Water Products had a net margin of 13.4% in fiscal 2025; Watts Water Technologies had 14.0% in fiscal 2025.

Which grew revenue faster, Mueller Water Products or Watts Water Technologies?

In their latest fiscal years revenue changed by +8.7% at Mueller Water Products and +8.3% at Watts Water Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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