Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Mueller Water Products, Inc.MWA · manufacturing | |
|---|---|
| Grade |  A/Bon the A/B boundary of 255 graded peers; percentile 18.5, sampling error 3.0 points; lower is stronger |
| Rank | 48 of 255 |
| Profitability | Cpercentile 52.0 |
| Solvency | Bpercentile 25.7 |
| Growth and financing | B/Cpercentile 37.2 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.8B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: short runway, distress |
| Inputs computable | 10 of 14 |
| Graded from | filings received through Nov 19, 2025324 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $21.572026-10-08; market equity $3.4B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Nov 19, 2025; the document on sec.gov.
- Regulatory and Environmental Matters,” “Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Contingencies” and Note 15. of the Notes to Consolidated Financial Statements. We are subject to stringent environmental, health and safety laws and regulations that impose significant compliance costs. Any failure to comply with these laws and regulations may adversely affect us. We are subject to stringent laws and regulations relating to the protection of the environment, health and safety and incur significant capital and other expenditures to comply with these requirements.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 52.0 | |||||||
| Gross profitability | 28.1% | [1,3] | 21.9% | 24.8 | 275 | 2025-09-30 | |
| Return on invested capital | not computable | 9.7% | |||||
| latest aligned inputs end 2021-09-30; latest annual assets end 2025-09-30 | |||||||
| Accruals ratio | (1.6%) | [1,4-6] | (3.6%) | 69.7 | 308 | 2025-09-30 | |
| Gross margin stability, five years | 2.7 pts | [2-3,7-14] | 2.1 pts | 61.4 | 229 | 2025-09-30 | |
| Solvency, sleeve percentile 25.7 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 4.48 | [1,15-20] | 3.66 | 34.2 | 244 | 2025-09-30 | |
| Net debt to EBITDA | not computable | 1.78x | |||||
| latest aligned inputs end 2021-09-30; latest annual assets end 2025-09-30 | |||||||
| Interest coverage | 13.03x | [18,21] | 5.09x | 22.2 | 64 | 2025-09-30 | |
| Current ratio | 3.54x | [15-16] | 2.25x | 20.7 | 325 | 2025-09-30 | |
| Growth and financing, sleeve percentile 37.2 | |||||||
| Revenue growth, three-year compound | 4.7% | [2,8,10,12] | 2.1% | 35.1 | 269 | 2025-09-30 | |
| Free cash flow growth, three-year compound | not computable | 13.9% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | 70.5% | [15-16,18,22-27] | 26.4% | 27.5 | 139 | 2025-09-30 | |
| Asset growth, three years | 7.1% | [1,6,28-29] | 4.4% | 34.2 | 279 | 2025-09-30 | |
| Net share issuance, one year | 0.06% | [30-31] | 0.01% | 52.1 | 243 | 2025-11-14 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.268; sampling error 3.0 percentile points on 255 peers.
Among 255 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 43 | Movado Group Inc. (MOV) Movado Group Inc. (MOV) Astrongest fifth; percentile 16.5 NYSE · Watches, Clocks, Clockwork Operated Devices/Parts last close $32.02 No active warnings; 8 of 14 inputs | 16.5 | A | |
| 44 | Kratos Defense & Security Solutions, Inc. (KTOS) Kratos Defense & Security Solutions, Inc. (KTOS) Astrongest fifth; percentile 16.9 Nasdaq · Guided Missiles & Space Vehicles & Parts market equity $7.9B; last close $41.93 Warnings: fortress balance sheet; 9 of 14 inputs | 16.9 | A | fortress balance sheet |
| 45 | Moog Inc. (MOG-A) Moog Inc. (MOG-A) A/Bon the A/B boundary; percentile 17.5 NYSE · Misc Industrial & Commercial Machinery & Equipment last close $363.40 No active warnings; 7 of 14 inputs | 17.5 | A/B | |
| 46 | Moog Inc. (MOG-B) Moog Inc. (MOG-B) A/Bon the A/B boundary; percentile 17.5 NYSE · Misc Industrial & Commercial Machinery & Equipment last close $420.07 No active warnings; 7 of 14 inputs | 17.5 | A/B | |
| 47 | Douglas Dynamics, Inc. (PLOW) Douglas Dynamics, Inc. (PLOW) A/Bon the A/B boundary; percentile 18.1 NYSE · Construction Machinery & Equip market equity $909.0M; last close $39.45 No active warnings; 9 of 14 inputs | 18.1 | A/B | |
| 48 | Mueller Water Products, Inc. (MWA) Mueller Water Products, Inc. (MWA) A/Bon the A/B boundary; percentile 18.5 NYSE · Miscellaneous Fabricated Metal Products market equity $3.4B; last close $21.57 No active warnings; 10 of 14 inputs | 18.5 | A/B | |
| 49 | Power Solutions International, Inc. (PSIX) Power Solutions International, Inc. (PSIX) A/Bon the A/B boundary; percentile 18.9 Nasdaq · Engines & Turbines market equity $1.1B; last close $48.59 No active warnings; 8 of 14 inputs | 18.9 | A/B | |
| 50 | Carpenter Technology Corp. (CRS) Carpenter Technology Corp. (CRS) A/Bon the A/B boundary; percentile 19.3 NYSE · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) market equity $19.2B; last close $387.03 No active warnings; 9 of 14 inputs | 19.3 | A/B | |
| 51 | Tecnoglass Holdings Inc. (TGLS) Tecnoglass Holdings Inc. (TGLS) A/Bon the A/B boundary; percentile 19.7 NYSE · Flat Glass market equity $1.7B; last close $37.79 No active warnings; 14 of 14 inputs | 19.7 | A/B | |
| 52 | Toro Co. (TTC) Toro Co. (TTC) A/Bon the A/B boundary; percentile 20.1 NYSE · Lawn & Garden Tractors & Home Lawn & Gardens Equip market equity $9.2B; last close $96.78 No active warnings; 9 of 14 inputs | 20.1 | A/B | |
| 53 | Miller Industries Inc. (MLR) Miller Industries Inc. (MLR) A/Bon the A/B boundary; percentile 20.5 NYSE · Truck & Bus Bodies market equity $599.4M; last close $52.70 No active warnings; 7 of 14 inputs | 20.5 | A/B |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B | 21.5 | 2204 |
| sector peers, equal sleeves (the grade) | A/B | 18.5 | 255 |
| same exchange, equal sleeves | A/B | 21.3 | 984 |
| sector peers, equal inputs | A | 16.9 | 255 |
Each letter is one fifth of the 255 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (4.4%) | 13.7% | 30 | hotter than 30 of 100 peers |
| Distance from 52-week high | (29.0%) | (24.3%) | 41 | closer to its high than 41 of 100 peers |
| EBIT to enterprise value | 7.3% | 4.1% | 79 | pricier than 21 of 100 peers |
| Free cash flow yield | 5.1% | 3.4% | 68 | pricier than 32 of 100 peers |
| Book value to price | 0.33 | 0.34 | 48 | pricier than 52 of 100 peers |
| Sales to price | 0.42 | 0.54 | 38 | pricier than 62 of 100 peers |
| Composite equity issuance, five years | (9.7%) | (9.5%) | 48 | more equity-funded than 48 of 100 peers |
| Relative strength against the sector, log excess return | (0.18) | (0.00) | 30 | ahead of 30 of 100 peers |
Inputs: market equity $3.4B; EBIT $260.6M; free cash flow $172.0M; book equity $1.1B; sales $1.4B; debt $451.4M; cash $227.5M[32].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 8 of 9, period end 2025-09-30 | ||
|---|---|---|
| Return on assets above zero | 11.7% | ✓ pass[4,6] |
| Operating cash flow above zero | $219.3M | ✓ pass[5] |
| Return on assets improved | 4.0 pts | ✓ pass[4,6,28,33] |
| Operating cash flow exceeds net income | $27.6M | ✓ pass[4-5] |
| Long-term leverage fell | (2.6 pts) | ✓ pass[1,6,28,34-35] |
| Current ratio improved | 21.7 pts | ✓ pass[15-16,26-27] |
| No new shares issued | 0.1% | ✗ fail[30-31] |
| Gross margin improved | 1.2 pts | ✓ pass[2-3,7-8] |
| Asset turnover improved | 0.0 pts | ✓ pass[2,6,8,28] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | n/a |
| Operating cash flow, four quarters | n/a[5,36-39] |
| Months of runway | not finite |
| cash is missing at the end of the latest cash-flow quarter | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 64 |
| 10-Q received Aug 6, 2026 | |
| Median daily dollar volume | $27.0M |
| 63 sessions | |
| Days since newest grade input | 324 |
Downloads [top]
|
Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.8B | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:Revenues | $1.4B | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $516.7M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | $191.7M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $219.3M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $1.6B | 2024-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $459.0M | 2024-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:Revenues | $1.3B | 2024-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $379.5M | 2023-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:Revenues | $1.3B | 2023-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $364.3M | 2022-09-30 | 2024-11-20 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:Revenues | $1.2B | 2022-09-30 | 2024-11-20 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $358.5M | 2021-09-30 | 2023-12-14 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:Revenues | $1.1B | 2021-09-30 | 2023-12-14 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $1.0B | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $290.3M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$174.2M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | $260.6M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $981.7M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $857.2M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 21 | interest expense | us-gaap:InterestExpense | $20.0M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 22 | capital expenditure | us-gaap:PaymentsToAcquireProductiveAssets | $47.3M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 23 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $46.9M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 24 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $254.2M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 25 | income tax | us-gaap:IncomeTaxExpenseBenefit | $62.5M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 26 | current assets | us-gaap:AssetsCurrent | $858.4M | 2024-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 27 | current liabilities | us-gaap:LiabilitiesCurrent | $258.0M | 2024-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 28 | assets | us-gaap:Assets | $1.5B | 2023-09-30 | 2024-11-20 | 10-K | filing · viewer · series |
| 29 | assets | us-gaap:Assets | $1.5B | 2022-09-30 | 2023-12-14 | 10-K | filing · viewer · series |
| 30 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 156,349,160 | 2025-11-14 | 2025-11-19 | 10-K | filing · viewer · series |
| 31 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 156,252,093 | 2024-11-15 | 2024-11-20 | 10-K | filing · viewer · series |
| 32 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 156,125,679 | 2026-07-31 | 2026-08-06 | 10-Q | filing · viewer · series |
| 33 | net income | us-gaap:NetIncomeLoss | $115.9M | 2024-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 34 | long term debt | us-gaap:LongTermDebtNoncurrent | $450.4M | 2025-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 35 | long term debt | us-gaap:LongTermDebtNoncurrent | $448.7M | 2024-09-30 | 2025-11-19 | 10-K | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $154.2M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $48.4M | 2026-03-31 | 2026-05-06 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $61.2M | 2025-12-31 | 2026-02-05 | 10-Q | filing · viewer · series |
| 39 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $135.8M | 2025-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 18.5 is 1.5 points from the nearest band edge; sampling error is 3.0 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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