MWA
Mueller Water Products, Inc.
Is MWA Halal?
Water-infrastructure products maker with a generally permissible business; known financial results vary by methodology.
What You Should Know
Mueller Water Products, Inc. manufactures valves, fire hydrants, metering systems and leak-detection technology for water and wastewater infrastructure. Its March 31, 2026 Form 10-Q reports assets of $1,884.8 million, interest-bearing debt of $452.4 million, cash of $421.0 million and accounts receivable of $208.6 million. Debt/assets is 24.00%, liquidity/assets is 22.34% and receivables-plus-cash/assets is 33.40%; gross interest income is not separately disclosed. FTSE Yasaar and Malaysia known ratios pass, while the examined MSCI receivables-plus-cash proxy is just above 33.33%; the stored result is methodology-dependent and activity remains incomplete. This is Mueller Water Products (MWA), distinct from Mueller Industries (MLI).
⚠️ Concerns
- •Receivables-plus-cash/assets is 33.40%, just above the examined MSCI 33.33% limit
- •Debt/assets is 24.00% and liquidity/assets is 22.34% on the current filing proxy
- •Municipal, industrial and construction end uses remain qualitatively mixed
- •Gross interest income and a universal prohibited-revenue numerator are unavailable
- •Re-screen after the next filing or a methodology update
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
452.4 / 1,884.8
421 / 1,884.8
629.6 / 1,884.8
- Financial
- Incomplete
- Overall
- Incomplete
Known debt/assets is 24.00%, liquidity is 22.34% and receivables plus cash is 33.40%, within examined FTSE limits, but gross interest income is unavailable.
- Financial
- Fails
- Overall
- Fails
Receivables plus cash is 33.40%, slightly above the examined 33.33% total-assets limit; debt and liquidity are below their limits.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 24.00% and liquidity is 22.34%, below the examined 33% limits; activity remains incomplete and this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored and activity classification remains incomplete.
Business-activity disclosure
Mueller Water Products makes valves, hydrants and related water-infrastructure products. Municipal and industrial water infrastructure is generally permissible, subject to end-use and contract review.
Limitation: The filing does not provide a reproducible prohibited-revenue numerator for end uses or a gross interest-income figure.
Purification
Gross interest income is not separately disclosed and no scholar-approved purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from Mueller Water Products' March 31, 2026 Form 10-Q and rounded to one decimal.
- Debt combines $1.4 million current and $451.0 million long-term debt; operating leases are excluded.
- Cash is $421.0 million and no separately identified interest-bearing securities are added.
- Accounts receivable is $208.6 million and first-quarter revenue is $384.4 million; gross interest income is not separately disclosed.
- Receivables plus cash is 33.40%, only slightly above the examined MSCI 33.33% total-assets threshold; methodologies differ.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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