Mueller Water Products (MWA)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 221,600 | 151,400 | 215,500 | 218,700 | 234,100 | 172,900 | 217,100 | 214,300 | 229,300 | 201,900 | 233,000 | 235,200 | 234,800 | 191,400 | 212,200 | 209,500 | 183,900 | 169,400 | 180,800 | 167,700 |
| 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 |
| Quick ratio | 2.34 | 2.22 | 2.04 | 2.18 | 1.95 | 2.05 | 1.72 | 1.78 | 1.66 | 1.53 | 1.57 | 1.93 | 1.98 | 2.00 | 2.00 | 2.32 | 2.57 | 2.86 | 2.51 | 2.33 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($329,200K
+ $—K
+ $221,600K)
÷ $235,300K
= 2.34
The Quick Ratio of Mueller Water Products exhibits notable fluctuations over the analyzed period from June 2020 to March 2025. In mid-2020, the ratio was comfortably above 2.0, starting at 2.33 on June 30, 2020, and demonstrating an increasing trend, peaking at 2.86 by December 31, 2020. This indicates a strong liquidity position, as the company's liquid assets readily covered its current liabilities.
Throughout 2021, the ratio experienced a gradual decline, falling to 2.00 by September 30, 2021, and maintaining that level through the end of the year. The trend of decreasing liquidity persisted into 2022, with the ratio diminishing further to 1.53 by December 31, 2022. This decline suggests a reduction in the company's liquid assets relative to its current liabilities, which could be indicative of either increased current liabilities or decreased liquid holdings.
In early 2023, the Quick Ratio showed signs of recovery, increasing to 1.66 by March 31, 2023, and continuing upward to 2.05 by December 31, 2023. This rebound indicates an improvement in liquidity positioning, possibly due to strategic asset management or reduction in short-term obligations.
Entering 2024, the ratio remained relatively stable around 2.0, with slight variations—reaching 2.22 on December 31, 2024, and 2.34 on March 31, 2025. This resurgence to above 2.0 levels reflects a solid liquidity buffer, suggesting that the company maintains a prudent level of liquid assets relative to its current liabilities during this period.
Overall, the trend of Mueller Water Products' Quick Ratio demonstrates periods of strong liquidity interspersed with phases of decline and recovery. The fluctuations indicate responsiveness to operational, financial, or market factors but consistently remaining above the generally acceptable threshold of 1.0. This stability highlights a cautious approach in managing liquid assets to cover short-term obligations across the analyzed timeframe.
Peer comparison
Mar 31, 2025