Mueller Water Products (MWA)
Payables turnover
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 900,200 | 886,900 | 855,700 | 831,400 | 832,600 | 844,700 | 896,200 | 929,000 | 937,400 | 920,000 | 883,100 | 846,600 | 816,800 | 778,200 | 752,500 | 714,600 | 662,300 | 654,900 | 635,900 | 642,600 |
| Payables | US$ in thousands | 118,100 | 98,900 | 109,900 | 85,700 | 96,700 | 108,900 | 102,900 | 101,000 | 103,700 | 103,500 | 122,800 | 97,900 | 108,000 | 83,900 | 92,000 | 86,600 | 74,700 | 58,200 | 67,300 | 59,000 |
| Payables turnover | 7.62 | 8.97 | 7.79 | 9.70 | 8.61 | 7.76 | 8.71 | 9.20 | 9.04 | 8.89 | 7.19 | 8.65 | 7.56 | 9.28 | 8.18 | 8.25 | 8.87 | 11.25 | 9.45 | 10.89 |
March 31, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $900,200K ÷ $118,100K
= 7.62
The payables turnover ratio for Mueller Water Products has exhibited fluctuations over the period analyzed. Starting from June 30, 2020, the ratio was approximately 10.89, indicating that the company was settling its accounts payable roughly 10.89 times annually, reflecting a relatively efficient management of payables. Throughout 2020 and into early 2021, the ratio experienced some volatility, increasing to a peak of 11.25 at the end of 2020 before declining to approximately 8.87 by March 2021.
From mid-2021 onward, the ratio generally trended lower, reaching a low of 7.19 by September 2022. This decline suggests a lengthening of the payables period, possibly indicating that the company was taking longer to settle its liabilities or negotiating extended credit terms with suppliers. Following this low point, the ratio gradually increased again, reaching around 9.70 by June 2024, which denotes a reversal in the trend toward quicker payables settlements.
Overall, the data demonstrates periods of contraction and expansion in the payables turnover, with the ratio tending to oscillate between approximately 7.19 and 11.25. These shifts could reflect strategic changes in payment practices, variations in supplier credit terms, or differing cash flow conditions. The observed trend indicates that Mueller Water Products has managed its accounts payable with variability, aligning its payment policies with operational needs and financial strategies during this timeframe.
Peer comparison
Mar 31, 2025