Mueller Water Products (MWA)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 329,200 | 338,200 | 309,900 | 243,300 | 179,200 | 216,700 | 160,300 | 141,200 | 89,200 | 125,600 | 146,500 | 154,900 | 164,100 | 207,300 | 227,500 | 228,600 | 228,200 | 220,800 | 208,900 | 170,700 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 64,300 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 235,300 | 220,300 | 258,000 | 212,400 | 212,300 | 221,600 | 218,800 | 199,900 | 191,300 | 213,600 | 241,000 | 202,300 | 201,500 | 199,300 | 220,100 | 188,900 | 160,200 | 136,300 | 155,000 | 145,000 |
| Cash ratio | 1.40 | 1.54 | 1.20 | 1.15 | 0.84 | 1.27 | 0.73 | 0.71 | 0.47 | 0.59 | 0.61 | 0.77 | 0.81 | 1.04 | 1.03 | 1.21 | 1.42 | 1.62 | 1.35 | 1.18 |
March 31, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($329,200K
+ $—K)
÷ $235,300K
= 1.40
The Cash Ratio of Mueller Water Products exhibits notable fluctuations over the analyzed period from June 2020 through March 2025. Initially, the ratio increased from 1.18 in June 2020 to a peak of 1.62 in December 2020, indicating a period where the company's cash and cash equivalents were more than sufficient to cover its current liabilities. This upward trend sustained into early 2021, with the ratio reaching 1.42 in March 2021 and peaking again at 1.35 in September 2020.
Subsequently, the ratio experienced a gradual decline starting in late 2021, falling below 1.00 for the first time since mid-2020. It decreased to approximately 0.81 by March 2022 and continued downward through 2022, reaching a low of around 0.59 in December 2022. The downward trend persisted into 2023, with the ratio dropping further to approximately 0.47 by March 2023.
From mid-2023 onwards, the ratio demonstrated signs of recovery. It increased again to 0.71 in June 2023 and further to 0.73 in September 2023 before surpassing the threshold of 1.00 again, reaching 1.27 by December 2023. The upward recovery continued into early 2024, with the ratio at 0.84 in March 2024, rising further to 1.15 in June 2024 and stabilizing around 1.20 in September 2024. The ratio peaked at 1.54 in December 2024 before slightly moderating to 1.40 in March 2025.
Overall, the company's cash ratio has demonstrated periods of both strength and weakness, with a significant decline beginning in late 2021 that persisted into 2023, followed by a recovery phase starting in late 2023. The fluctuations reflect varying liquidity conditions, with the company maintaining a comfortable cash buffer relative to current liabilities at certain periods, particularly in late 2020 and late 2024 to early 2025, while experiencing tighter liquidity in 2022 and early 2023.
Peer comparison
Mar 31, 2025