Mueller Water Products, Inc.
MWAHIGH VELOCITYFILING INTENSITYMueller Water Products, Inc. reads as an High Velocity (composite 70/100); Consistent Strategic Buyer deploying $0 across 0 disclosed transactions, down 100% vs the prior cycle · primary market Waste.
Lens
Disclosed M&A capital (2023–2025)
N/A
vs N/A in 2020–2022
Disclosed transactions
N/A
0/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
70
High Velocity dominates · Filing Intensity
Mueller Water Products (MWA) is a public-company acquirer in industrial - machinery with $317M of disclosed M&A spend across 5 acquisitions over 9 active years. Strategy mix is led by Bolt On (44%), Horizontal Consolidation (22%), Platform (15%). Current capacity: $421M cash, $452M total debt, 0.1x net leverage (underlevered). Has $978M of incremental debt capacity to a 3.0x IG threshold and $1.7B to the 5.0x HY transition. Disclosed median deal size sits at $63M.
- “completed our large valve manufacturing expansion in Chattanooga, Tennessee and a new facility in Kimball, Tennessee, which included consolidating multiple facilities.”- 10-K FY2024
- “Distributors in our industry have experienced consolidation in recent years. If such consolidation continues, our distributors could be acquired by other distributors who have better relationships with our competitors and pricing and profit margin pressure may intensify.”- 10-K FY2020
- “Our large valve manufacturing expansion in Chattanooga, Tennessee entered near full-scale production during the fiscal year 2022.”- 10-K FY2022
- ▸Continued tuck-in cadence around existing operations
- ▸Disciplined size constraint suggests no transformational deals
- ▸Limited to deal sizes under $1.7B if debt-funded.
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $232M disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 34d
- 8 acquisition-history signals
- 359 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 7 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 7 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 7 activism filings
- Latest activism 5.5y ago; heavily discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 7 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 359 8-Ks
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $4.2B
- 10-Q 34d ago
- 2 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $128M · Peak count: 1
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | N/A | N/A | N/A | N/A |
| 2024 | N/A | N/A | N/A | N/A |
| 2023 | N/A | N/A | N/A | N/A |
| 2022 | N/A | $200K | N/A | N/A |
| 2021 | 1 | $20M | $20M | N/A |
| 2020 | N/A | N/A | N/A | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Bolt On20%
- Geographic Expansion20%
- Horizontal Consolidation20%
- Platform20%
- Talent Acquisition20%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- bolt_on
- horizontal_consolidation
- platform
- geographic_expansion
- talent_acquisition
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“Distributors in our industry have experienced consolidation in recent years. If such consolidation continues, our distributors could be acquired by other distributors who have better relationships with our competitors and pricing and profit margin pressure may intensify.”
“Additionally, our new brass foundry in Decatur, Illinois is operational, and in the first half of our fiscal 2025, we expect to close our old brass foundry which was built in the early 1900s.”
“completed our large valve manufacturing expansion in Chattanooga, Tennessee and a new facility in Kimball, Tennessee, which included consolidating multiple facilities.”
“Pricing and profit margin pressure or the loss of any one of our key distributors in any market could adversely affect our operating results.”
“Our large valve manufacturing expansion in Chattanooga, Tennessee entered near full-scale production during the fiscal year 2022.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Waste
- Market spend (2023–2025)
- $24.4B
- Market spend (2020–2022)
- $21.3B
- Recent vs prior
- +15%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
MWA trades at a -3.3-turn discount to the Waste peer median of 15.6×.
- EV / Revenue
- 2.8×
- Net debt / EBITDA
- 0.1×
- Peer median EV / EBITDA
- 15.6×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
Ecolab Inc.ECL | 24.5× | 4.9× | 2.3× | $16.5B | $2.1B |
Veralto CorpVLTO | 16.5× | 4.0× | 0.9× | $5.6B | $395M |
Xylem Inc.XYL | 15.6× | 3.1× | 0.6× | $9.1B | $832M |
Pentair plcPNR | 15.0× | 3.4× | 2.0× | $4.2B | $401M |
| 14.9× | 2.2× | 1.4× | $4.7B | $372M | |
Mueller Water Products, Inc.MWA | 12.4× | 2.8× | 0.1× | $1.5B | N/A |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Waste. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)202025-11-19
- 10-Q (quarterly)642026-05-06
- 8-K (event)3592026-05-05
- Proxy / DEF 14A202025-12-19
- Activism (13D / DFAN / PREC)72020-11-24
Signals on file
- elevated
Activism on file
2020-11-247 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Disclosed acquisition spend
- info
Signal
10-K strategy themes
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.