Mueller Water Products (MWA) FY2019 results: revenue $968 million, up 5.7% on the year
Mueller Water Products, Inc. (MWA) reported revenue of $968 million for fiscal 2019, the year ended 30 September 2019, up 5.7% on the year before. Net income was $64 million, down 39.6%, and diluted earnings per share $0.40. The figures are the company's own, from the 10-K it filed with the SEC on 20 November 2019.
Revenue
$968 million
+5.7% on the year
FY2012FY2019
Operating margin
12.8%
13.3% a year earlier
FY2012FY2019
Net income
$64 million
-39.6% on the year
FY2012FY2019
Diluted EPS
$0.40
-39.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
968
916
826
+5.7%
Cost of revenue
647
626
558
+3.4%
Gross profit
321
290
268
+10.7%
Gross margin
33.2%
31.6%
32.4%
Research and development
14.3
11.6
12.1
+23.3%
Selling, general and administrative
183
167
155
+9.6%
Operating income
124
122
102
+2.1%
Operating margin
12.8%
13.3%
12.4%
Interest expense
23.3
25.3
24.2
-7.9%
Pre-tax income
82.1
95.7
n/a
-14.2%
Income tax
18.3
-9.9
24.2
Effective tax rate
22.3%
-10.3%
n/a
Net income
63.8
106
123
-39.6%
Net margin
6.6%
11.5%
14.9%
Diluted EPS
$0.40
$0.66
$0.76
-39.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
92.5
133
16.1
-30.5%
Capital expenditure
86.6
55.7
40.6
+55.5%
Free cash flow
5.9
77.4
-24.5
-92.4%
Free cash flow margin
0.6%
8.4%
-3.0%
Cash from investing
-212
-47.9
n/a
Cash from financing
-50.9
-98.3
n/a
Depreciation and amortisation
53.0
43.7
41.9
+21.3%
Share-based compensation
4.3
5.2
6.0
-17.3%
Buybacks
10.0
30.0
55.0
-66.7%
Dividends paid
32.0
30.1
24.0
+6.3%
Dividend per share
$0.20
$0.19
$0.15
+6.6%
Diluted shares, weighted
159m
160m
162m
-0.4%
Shares outstanding at period end
157m
157m
159m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
590
563
488
+4.8%
Non-controlling interest
2.2
1.5
1.1
+46.7%
Debt
452
452
486
+0.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
293
276
282
+6.3%
Total liabilities and equity
1,337
1,292
1,258
+3.5%
Fixed assets
217
151
122
+43.9%
Goodwill
95.7
12.1
12.9
+690.9%
Intangible assets
434
408
439
+6.3%
Cash and equivalents
177
347
362
-49.1%
Receivables
173
164
145
+5.2%
Inventory
191
157
139
+22.2%
Other assets
49.9
52.8
37.9
-5.5%
Total assets
1,337
1,292
1,258
+3.5%
10-K for the year ended 30 September 2019, filed 20 November 2019: the filing.