Mueller Water Products (MWA)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 473,300 | 475,700 | 459,000 | 436,500 | 405,200 | 372,600 | 379,500 | 376,700 | 374,900 | 369,900 | 364,300 | 365,000 | 372,100 | 367,700 | 358,500 | 366,100 | 336,400 | 334,000 | 328,200 | 323,100 |
| Revenue (ttm) | US$ in thousands | 1,373,500 | 1,362,600 | 1,314,700 | 1,267,900 | 1,237,800 | 1,217,300 | 1,275,700 | 1,305,700 | 1,312,300 | 1,289,900 | 1,247,400 | 1,211,600 | 1,188,900 | 1,145,900 | 1,111,000 | 1,080,700 | 998,700 | 988,900 | 964,100 | 965,700 |
| Gross profit margin | 34.46% | 34.91% | 34.91% | 34.43% | 32.74% | 30.61% | 29.75% | 28.85% | 28.57% | 28.68% | 29.20% | 30.13% | 31.30% | 32.09% | 32.27% | 33.88% | 33.68% | 33.77% | 34.04% | 33.46% |
March 31, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $473,300K ÷ $1,373,500K
= 34.46%
The gross profit margin of Mueller Water Products exhibits notable fluctuations over the analyzed period, reflecting changes in the company's ability to efficiently manage production costs relative to sales revenue. From June 30, 2020, to March 31, 2021, the gross profit margin remained relatively stable, averaging around 33.7%, with minor variations from 33.46% to 33.88%. This stability suggests consistent operational performance during this time frame.
Subsequently, a gradual decline in gross profit margin is observed starting from September 30, 2021, reaching a low of approximately 28.57% by March 31, 2023. The decline over this period indicates increasing cost pressures, pricing challenges, or shifts in product mix adversely impacting profitability margins.
From March 31, 2023, onward, a gradual recovery is evident, with the margin rising to approximately 34.91% by September 30, 2024, and stabilizing around that level through December 31, 2024. As of March 31, 2025, the margin slightly decreased to 34.46%, still maintaining a higher level compared to the lows observed in the earlier part of the period.
Overall, the gross profit margin demonstrates a significant downward trend from late 2021 into early 2023, followed by a recovery phase beginning in mid-2023. These dynamics could be attributable to various factors, including changes in raw material costs, production efficiencies, competitive pressures, or strategic adjustments in pricing. The recent stabilization and upward movement suggest an improvement in operational efficiency or favorable pricing strategies, supporting a better margin outlook moving forward.
Peer comparison
Mar 31, 2025