Mueller Water Products (MWA) FY2018 results: revenue $916 million, up 10.9% on the year
Mueller Water Products, Inc. (MWA) reported revenue of $916 million for fiscal 2018, the year ended 30 September 2018, up 10.9% on the year before. Net income was $106 million, down 14.4%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2018.
Revenue
$916 million
+10.9% on the year
FY2011FY2018
Operating margin
13.3%
12.4% a year earlier
FY2011FY2018
Net income
$106 million
-14.4% on the year
FY2011FY2018
Diluted EPS
$0.66
-13.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
916
826
801
+10.9%
Cost of revenue
626
558
532
+12.1%
Gross profit
290
268
269
+8.4%
Gross margin
31.6%
32.4%
33.6%
Research and development
11.6
12.1
9.9
-4.1%
Selling, general and administrative
167
155
150
+7.3%
Operating income
122
102
112
+19.2%
Operating margin
13.3%
12.4%
14.0%
Interest expense
25.3
24.2
24.0
+4.5%
Pre-tax income
95.7
n/a
n/a
Income tax
-9.9
24.2
24.2
Effective tax rate
-10.3%
n/a
n/a
Net income
106
123
63.9
-14.4%
Net margin
11.5%
14.9%
8.0%
Diluted EPS
$0.66
$0.76
$0.39
-13.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
133
16.1
145
+726.7%
Capital expenditure
55.7
40.6
31.5
+37.2%
Free cash flow
77.4
-24.5
114
Free cash flow margin
8.4%
-3.0%
14.2%
Cash from investing
-47.9
n/a
n/a
Cash from financing
-98.3
n/a
n/a
Depreciation and amortisation
43.7
41.9
39.5
+4.3%
Share-based compensation
5.2
6.0
4.7
-13.3%
Buybacks
30.0
55.0
0.0
-45.5%
Dividends paid
30.1
24.0
16.1
+25.4%
Dividend per share
$0.19
$0.15
$0.10
+26.7%
Diluted shares, weighted
160m
162m
163m
-1.3%
Shares outstanding at period end
157m
159m
162m
-0.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
563
488
418
+15.3%
Non-controlling interest
1.5
1.1
1.2
+36.4%
Debt
452
486
491
-7.2%
Other liabilities
276
282
370
-2.4%
Total liabilities and equity
1,292
1,258
1,281
+2.7%
Fixed assets
151
122
108
+23.4%
Goodwill
12.1
12.9
5.4
-6.2%
Intangible assets
408
439
435
-7.1%
Cash and equivalents
347
362
195
-4.0%
Receivables
164
145
132
+13.1%
Inventory
157
139
131
+12.7%
Other assets
52.8
37.9
275
+39.3%
Total assets
1,292
1,258
1,281
+2.7%
10-K for the year ended 30 September 2018, filed 21 November 2018: the filing.