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Pay vs Performance Disclosure
12 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE TABLE
 
Summary Compensation Table Total for PEO(1,2)
($)
Compensation Actually Paid to PEO(1,3)
($)
Average Summary Compensation Table Total for Non-PEO NEOs(1,2)
($)
Average Compensation Actually Paid to Non-PEO NEOs(1,3)
($)
Value of Initial Fixed $100 Investment Based on
Year
Hall
Zakas
Hall
Zakas
TSR(4)
($)
Peer Group TSR(4)
($)
Net Income(5)
($ in millions)
Adjusted EBITDA(6)
($ in millions)
20235,206,847 4,570,754 6,572,172 4,913,760 1,848,127 2,006,500 128.61 144.21 85.5 203.6 
20224,807,096 N/A200,868 N/A1,248,157 405,003 102.26 111.20 76.6 195.2 
20215,549,031 N/A8,316,738 N/A1,412,604 1,825,241 148.93 140.71 70.4 204.3 
   
Named Executive Officers, Footnote NEOs included in these columns reflect the following:
Year
PEO
Non-PEO NEOs
2023HallZakas
Messrs. Heinrichs, McAndrew, Helms and Takeuchi
2022HallN/A
Ms. Zakas, Messrs. Heinrichs, Helms and Takeuchi
2021HallN/A
Ms. Zakas, Messrs. Heinrichs, Helms and Takeuchi
   
Peer Group Issuers, Footnote Company TSR and Peer Group TSR reflected in these columns for each applicable fiscal year are calculated based on a fixed investment of $100 at the applicable measurement point on the same cumulative basis as is used in Item 201(e) of Regulation S-K. Peer Group TSR for each applicable fiscal year uses the Dow Jones U.S. Building Materials & Fixtures Index as disclosed in our annual report on Form 10K for fiscal year ended 2023 pursuant to Item 201(e) of Regulation S-K. Historical stock performance is not necessarily indicative of future stock performance.    
Adjustment To PEO Compensation, Footnote In accordance with Item 402(v) of Regulation S-K, the fair values of unvested and outstanding equity awards were remeasured as of the end of each fiscal year, and as of each vesting date, during the years displayed in the tables below. For PRSUs with an rTSR metric, or Market Units, the fair values as of each measurement date (prior to the end of the performance period) were determined using a Monte Carlo simulation pricing model, with assumptions and methodologies that are generally consistent with those used to estimate fair value at grant under GAAP. The range of estimates used in the Monte Carlo calculations are as follows: (i) for 2023, volatility between 30.0% and 30.8% and risk-free rate between 4.9% and 5.3%; (ii) for 2022, volatility between 29.4% and 31.3% and risk-free rate between 4.0% and 4.1%; and (iii) for 2021, volatility between 27.3% and 41.3% and risk-free rate between 0.1% and 0.3%. For PRSUs with a Return on Net Assets metric, fair values reflect the probable outcome of the performance vesting conditions as of each measurement date. For a discussion of the assumptions made in the valuation at grant, see Note 10 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for fiscal 2023. For each fiscal year reflected, the “compensation actually paid” to the PEOs and the average “compensation actually paid” to the non-PEO NEOs reflect the following adjustments made to the total compensation amounts reported in the Summary Compensation Table for each applicable fiscal year, computed in accordance with Item 402(v) of Regulation S-K:
Hall
Zakas
2023202220212023
($)($)($)($)
Summary Compensation Table (“SCT”) total for PEO
5,206,847 4,807,096 5,549,031 4,570,754 
Deduction for amounts reported under the “Stock Awards” column in the SCT(2,491,167)(2,470,487)(2,910,266)(2,135,843)
Deduction for amounts reported under the “Option Awards” column in the SCT(749,993)(643,742)(540,491)(212,492)
Year end fair value of equity awards granted in the year
3,767,445 1,815,901 3,703,766 1,067,456 
Change in fair value of outstanding and unvested equity awards292,419 (1,778,793)1,257,887 75,822 
Fair value as of vesting date of equity awards granted and vested in the year
— — — 1,429,993 
Change in fair value of equity awards granted in prior years that vested in the year546,621 (1,529,107)1,256,811 118,070 
Fair value of equity awards that failed to meet vesting conditions in the year
— — — — 
Value of dividends on stock awards— — — — 
Compensation actually paid6,572,172 200,868 8,316,738 4,913,760 
202320222021
($)($)($)
Average Summary Compensation Table (“SCT”) total for non-PEO NEOs
1,848,127 1,248,157 1,412,604 
Deduction for amounts reported under the “Stock Awards” column in the SCT(1,022,405)(460,326)(532,768)
Deduction for amounts reported under the “Option Awards” column in the SCT(123,435)(117,947)(103,823)
Year end fair value of equity awards granted in the year
1,113,928 332,704 602,147 
Change in fair value of outstanding and unvested equity awards35,257 (277,366)271,233 
Fair value as of vesting date of equity awards granted and vested in the year
99,995 — — 
Change in fair value of equity awards granted in prior years that vested in the year55,034 (320,219)175,848 
Fair value of equity awards that failed to meet vesting conditions in the year
— — — 
Value of dividends on stock awards— — — 
Average Compensation actually paid
2,006,500 405,003 1,825,241 
   
Non-PEO NEO Average Total Compensation Amount $ 1,848,127 $ 1,248,157 $ 1,412,604
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,006,500 405,003 1,825,241
Adjustment to Non-PEO NEO Compensation Footnote Amounts reflect the total compensation for our NEOs, as reported in the Summary Compensation Table for each applicable year.In accordance with Item 402(v) of Regulation S-K, the fair values of unvested and outstanding equity awards were remeasured as of the end of each fiscal year, and as of each vesting date, during the years displayed in the tables below. For PRSUs with an rTSR metric, or Market Units, the fair values as of each measurement date (prior to the end of the performance period) were determined using a Monte Carlo simulation pricing model, with assumptions and methodologies that are generally consistent with those used to estimate fair value at grant under GAAP. The range of estimates used in the Monte Carlo calculations are as follows: (i) for 2023, volatility between 30.0% and 30.8% and risk-free rate between 4.9% and 5.3%; (ii) for 2022, volatility between 29.4% and 31.3% and risk-free rate between 4.0% and 4.1%; and (iii) for 2021, volatility between 27.3% and 41.3% and risk-free rate between 0.1% and 0.3%. For PRSUs with a Return on Net Assets metric, fair values reflect the probable outcome of the performance vesting conditions as of each measurement date. For a discussion of the assumptions made in the valuation at grant, see Note 10 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for fiscal 2023. For each fiscal year reflected, the “compensation actually paid” to the PEOs and the average “compensation actually paid” to the non-PEO NEOs reflect the following adjustments made to the total compensation amounts reported in the Summary Compensation Table for each applicable fiscal year, computed in accordance with Item 402(v) of Regulation S-K:
Hall
Zakas
2023202220212023
($)($)($)($)
Summary Compensation Table (“SCT”) total for PEO
5,206,847 4,807,096 5,549,031 4,570,754 
Deduction for amounts reported under the “Stock Awards” column in the SCT(2,491,167)(2,470,487)(2,910,266)(2,135,843)
Deduction for amounts reported under the “Option Awards” column in the SCT(749,993)(643,742)(540,491)(212,492)
Year end fair value of equity awards granted in the year
3,767,445 1,815,901 3,703,766 1,067,456 
Change in fair value of outstanding and unvested equity awards292,419 (1,778,793)1,257,887 75,822 
Fair value as of vesting date of equity awards granted and vested in the year
— — — 1,429,993 
Change in fair value of equity awards granted in prior years that vested in the year546,621 (1,529,107)1,256,811 118,070 
Fair value of equity awards that failed to meet vesting conditions in the year
— — — — 
Value of dividends on stock awards— — — — 
Compensation actually paid6,572,172 200,868 8,316,738 4,913,760 
202320222021
($)($)($)
Average Summary Compensation Table (“SCT”) total for non-PEO NEOs
1,848,127 1,248,157 1,412,604 
Deduction for amounts reported under the “Stock Awards” column in the SCT(1,022,405)(460,326)(532,768)
Deduction for amounts reported under the “Option Awards” column in the SCT(123,435)(117,947)(103,823)
Year end fair value of equity awards granted in the year
1,113,928 332,704 602,147 
Change in fair value of outstanding and unvested equity awards35,257 (277,366)271,233 
Fair value as of vesting date of equity awards granted and vested in the year
99,995 — — 
Change in fair value of equity awards granted in prior years that vested in the year55,034 (320,219)175,848 
Fair value of equity awards that failed to meet vesting conditions in the year
— — — 
Value of dividends on stock awards— — — 
Average Compensation actually paid
2,006,500 405,003 1,825,241 
   
Compensation Actually Paid vs. Total Shareholder Return
CAP VERSUS MWA TSR and DJ TSR
capvtsr.jpg
   
Compensation Actually Paid vs. Net Income
CAP VERSUS NET INCOME
capvnetincome.jpg
   
Compensation Actually Paid vs. Company Selected Measure
CAP VERSUS ADJUSTED EBITDA
   
Tabular List, Table
Tabular List of Financial Performance Measures
As also required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, the following table lists the three financial performance measures that, in the Company’s assessment, represent the most important performance measures used to link CAP for our NEOs to Company performance for fiscal 2023. The performance measures included in this table are not ranked by relative importance.
Adjusted EBITDA
Net Sales
Free Cash Flow
   
Total Shareholder Return Amount $ 128.61 102.26 148.93
Peer Group Total Shareholder Return Amount 144.21 111.20 140.71
Net Income (Loss) $ 85,500,000 $ 76,600,000 $ 70,400,000
Company Selected Measure Amount 203,600,000 195,200,000 204,300,000
Additional 402(v) Disclosure Amounts reflect net income calculated in accordance with GAAP as reported in our audited financial statements for the applicable fiscal year.    
Measure:: 1      
Pay vs Performance Disclosure      
Name Adjusted EBITDA    
Non-GAAP Measure Description While we use numerous financial and non-financial performance measures to evaluate performance under our compensation programs, Adjusted EBITDA is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to NEOs, for the most recently completed fiscal year, to Company performance.    
Measure:: 2      
Pay vs Performance Disclosure      
Name Net Sales    
Measure:: 3      
Pay vs Performance Disclosure      
Name Free Cash Flow    
Zakas [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount $ 4,570,754    
PEO Actually Paid Compensation Amount $ 4,913,760    
PEO Name Zakas    
Hall [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount $ 5,206,847 $ 4,807,096 $ 5,549,031
PEO Actually Paid Compensation Amount $ 6,572,172 $ 200,868 $ 8,316,738
PEO Name Hall Hall Hall
PEO | Zakas [Member] | Stock Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (2,135,843)    
PEO | Zakas [Member] | Option Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (212,492)    
PEO | Zakas [Member] | Equity Awards Granted During the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,067,456    
PEO | Zakas [Member] | Equity Awards Granted During the Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 75,822    
PEO | Zakas [Member] | Equity Awards Granted During the Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,429,993    
PEO | Zakas [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 118,070    
PEO | Zakas [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
PEO | Zakas [Member] | Equity Awards, Value of Dividends [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
PEO | Hall [Member] | Stock Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (2,491,167) $ (2,470,487) $ (2,910,266)
PEO | Hall [Member] | Option Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (749,993) (643,742) (540,491)
PEO | Hall [Member] | Equity Awards Granted During the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,767,445 1,815,901 3,703,766
PEO | Hall [Member] | Equity Awards Granted During the Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 292,419 (1,778,793) 1,257,887
PEO | Hall [Member] | Equity Awards Granted During the Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Hall [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 546,621 (1,529,107) 1,256,811
PEO | Hall [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Hall [Member] | Equity Awards, Value of Dividends [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Stock Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,022,405) (460,326) (532,768)
Non-PEO NEO | Option Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (123,435) (117,947) (103,823)
Non-PEO NEO | Equity Awards Granted During the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,113,928 332,704 602,147
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 35,257 (277,366) 271,233
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 99,995 0 0
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 55,034 (320,219) 175,848
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Equity Awards, Value of Dividends [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0