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Watts Water Technologies vs Mueller Water Products: WTS and MWA compared
Watts Water Technologies is the larger company: $728M of revenue in its latest quarter (Q3 2026) against $376M for Mueller Water Products (Q4 FY26). Watts Water Technologies is growing faster (+19% against -1% a year earlier). Watts Water Technologies is more profitable, with an operating margin of 26.2% against 19.4%.
Where the money goes: WTS and MWA
Watts Water Technologies (WTS) · Q3 2026
Watts Water Technologies, Q3 2026: revenue $728M (+19% year over year), operating margin 26.2%, net earnings $145M, operating cash flow $158M. The chart follows the revenue to costs, profit and cash.
Mueller Water Products (MWA) · Q4 FY26
Mueller Water Products, Q4 FY26: revenue $376M (-1% year over year), operating margin 19.4%, net earnings $52.3M, operating cash flow $109M. The chart follows the revenue to costs, profit and cash.
| Watts Water Technologies (WTS) | Mueller Water Products (MWA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q4 FY26 |
| Revenue | $728M | $376M |
| Revenue growth, Y/Y | +19% | -1% |
| Gross margin | 55.1% | 37.0% |
| Operating margin | 26.2% | 19.4% |
| Net earnings | $145M | $52.3M |
| Net margin | 20.0% | 13.9% |
| Operating cash flow | $158M | $109M |
| Free cash flow | $132M | $96.7M |
| Market value | $11.6B | $3.8B |
| P/E | 25.9× | 17.0× |
| Analysts’ mean target | $403.71 | $27.00 |
Where the revenue comes from
Watts Water Technologies
- Flow control and Protection: $441M (61%)
- HVAC and Gas Products: $180M (25%)
- Drainage and Water Re-use Products: $74.7M (10%)
- Water quality: $32.3M (4%)
Questions
Which is bigger, Watts Water Technologies or Mueller Water Products?
Watts Water Technologies is the larger company: $728M of revenue in its latest quarter (Q3 2026) against $376M for Mueller Water Products (Q4 FY26).
Is Watts Water Technologies or Mueller Water Products growing faster?
Watts Water Technologies is growing faster (+19% against -1% a year earlier).
Which is more profitable, Watts Water Technologies or Mueller Water Products?
Watts Water Technologies is more profitable, with an operating margin of 26.2% against 19.4%.
More: Watts Water Technologies earnings · how Watts Water Technologies makes money · Mueller Water Products earnings · how Mueller Water Products makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 8-K filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.