Badger Meter Inc
BMI NYSE· Totalizing Fluid Meters & Counting Devices
Last close · Oct 26, 2026
$155.95
KIRA · Stoqly’s AI analyst, in plain words
- Badger Meter Inc had $917M of revenue in fiscal 2025, up 10.9% on the year before. Over five years, revenue changed +16.6% a year on average.
- Its operating margin was 20.0%, up 0.9 pts: of every 100 in sales, about 20 is left after running the business.
- Badger Meter Inc made $142M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 17.6% a year.
- Free cash flow was $170M in fiscal 2025, 18.5% of revenue.
- Badger Meter Inc returned $58.5M to shareholders in fiscal 2025, 34% of free cash flow. The diluted share count rose 0.1%.
- Badger Meter Inc has $226M more cash than debt.
Market cap
$4.5B
P/E
36.0x
Revenue
$917M
Net income
$142M
Free cash flow
$170M
Operating margin
20.0%
Badger Meter Inc in 30 seconds · fiscal 2025
Are sales growing?
+10.9%
Yes. Sales grew 10.9% last year.
Does it make a profit?
15.5%
Yes. It keeps 15.5% of every sale as profit.
Does profit turn into cash?
18.5%
Yes. 18.5% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
36.0x
One share costs 36.0 times its yearly profit per share.
What Badger Meter Inc does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 17, 2026
- Legal name
- BADGER METER INC
- CIK
- 0000009092
Badger Meter Inc · BMI
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $505M | $566M | $704M | $827M | $917M |
| Revenue growth | 18.7% | 11.9% | 24.4% | 17.5% | 10.9% |
| Net interest income | $0.0M | $0.6M | $4.0M | $8.6M | $5.1M |
| Gross margin | 40.7% | 38.9% | 39.3% | 39.8% | 41.7% |
| Operating margin | 15.6% | 15.4% | 16.8% | 19.1% | 20.0% |
| Net income | $60.9M | $66.5M | $92.6M | $125M | $142M |
| Net margin | 12.1% | 11.8% | 13.2% | 15.1% | 15.5% |
| Diluted EPS | $2.08 | $2.26 | $3.14 | $4.23 | $4.79 |
| Cash | |||||
| Cash from operations | $87.5M | $82.5M | $110M | $155M | $184M |
| Capital expenditure | $6.7M | $5.9M | $12.0M | $12.8M | $14.0M |
| Free cash flow | $80.8M | $76.6M | $98.1M | $142M | $170M |
| FCF margin | 16.0% | 13.5% | 13.9% | 17.2% | 18.5% |
| Dividends paid | $22.2M | $24.9M | $29.1M | $35.8M | $43.5M |
| Share buybacks | $0.5M | $0.4M | $0.0M | $0.0M | $15.0M |
| Share count change | 0.3% | 0.3% | 100,090.5% | 0.3% | 0.1% |
| Debt and strength | |||||
| Cash and short-term investments | $87.2M | $138M | $192M | $295M | $226M |
| Debt incl. finance leases | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $403M | $442M | $516M | $606M | $713M |
| Net debt / EBITDA | −1.0x | −1.4x | −1.5x | −1.7x | −1.2x |
| Current ratio | 3.2x | 3.2x | 3.4x | 4.6x | 3.4x |
| Returns and quality | |||||
| Return on capital | 19.3% | 21.7% | 27.6% | 38.1% | 28.3% |
| Return on equity | 15.9% | 15.7% | 19.3% | 22.3% | 21.5% |
| Return on tangible equity | 26.0% | 23.1% | 26.5% | 27.8% | 39.4% |
| Piotroski F-score | 6 | 3 | 7 | 7 | 4 |
| Altman Z'' | 8.7 | 8.6 | 8.7 | 9.9 | 8.7 |
Insiders bought, 12 months
$1.6M
5 insiders
Insiders sold, 12 months
$0.6M
2 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Badger Meter Inc · BMI
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $155.95 a share, the company is worth $4.5B: 36.0 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0000009092). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.