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Badger Meter vs CoherentBadger Meter vs KeysightBadger Meter vs CognexBadger Meter vs Esco TechnologiesBadger Meter vs Sensata TechnologiesBadger Meter vs S&P 500 | Market

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Dec 2025

Income Metrics

Revenue 220.7M
Gross Profit 93.0M 42.13%
Operating Income 43.0M 19.51%
Net Income 33.6M 15.21%
EPS (Diluted) $1.14

Balance Sheet Metrics

Total Assets 973.6M
Total Liabilities 260.3M
Shareholders Equity 713.3M
Debt to Equity 0.36

Cash Flow Metrics

Operating Cash Flow 53.6M
Free Cash Flow 50.8M

Revenue & Profitability Trend

Quarter Income Flow i

Annual Income Flow i

Badger Meter Income Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Revenue i 916.7M 826.6M 703.6M 565.6M 505.2M
Cost of Goods Sold i 534.6M 497.4M 427.2M 345.6M 299.7M
Gross Profit i 382.1M 329.2M 276.4M 220.0M 205.5M
Gross Margin % i 41.7% 39.8% 39.3% 38.9% 40.7%
Operating Expenses
Research & Development i - - - - -
Selling, General & Administrative i 198.6M 171.2M 158.5M 132.8M 126.9M
Other Operating Expenses i - - - - -
Total Operating Expenses i 198.6M 171.2M 158.5M 132.8M 126.9M
Operating Income i 183.4M 157.9M 117.9M 87.2M 78.6M
Operating Margin % i 20.0% 19.1% 16.8% 15.4% 15.6%
Non-Operating Items
Interest Income i 5.1M 8.6M 4.0M 552.0K 20.0K
Interest Expense i - - - - -
Other Non-Operating Income 112.0K -49.0K - - -120.0K
Pre-tax Income i 188.7M 166.5M 122.0M 87.7M 78.6M
Income Tax i 47.0M 41.6M 29.4M 21.2M 17.7M
Effective Tax Rate % i 24.9% 25.0% 24.1% 24.2% 22.6%
Net Income i 141.6M 124.9M 92.6M 66.5M 60.9M
Net Margin % i 15.5% 15.1% 13.2% 11.8% 12.1%
Key Metrics
EBITDA i 218.0M 190.1M 146.0M 113.4M 106.5M
EPS (Basic) i $4.82 $4.26 $3.16 $2.28 $2.09
EPS (Diluted) i $4.79 $4.23 $3.14 $2.26 $2.08
Basic Shares Outstanding i 29398000 29355741 29284396 29218486 29144160
Diluted Shares Outstanding i 29398000 29355741 29284396 29218486 29144160

Income Statement Trend

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Badger Meter Balance Sheet From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Assets
Current Assets
Cash & Equivalents i 226.0M 295.3M 191.8M 138.1M 87.2M
Short-term Investments i - - - - -
Accounts Receivable i 112.4M 84.3M 83.5M 76.7M 65.9M
Inventory i 151.9M 143.4M 153.7M 119.9M 99.6M
Other Current Assets 16.8M 17.1M 13.2M 13.3M 8.7M
Total Current Assets i 507.1M 540.1M 442.2M 347.8M 261.4M
Non-Current Assets
Property, Plant & Equipment i 0 0 0 0 0
Goodwill i 593.3M 272.4M 280.1M 256.1M 278.4M
Intangible Assets i 122.2M 48.9M 53.7M 53.6M 69.8M
Long-term Investments - - - - -
Other Non-Current Assets 29.1M 41.4M 34.0M 26.8M 17.3M
Total Non-Current Assets i 466.5M 276.3M 274.7M 255.2M 269.5M
Total Assets i 973.6M 816.4M 716.9M 603.0M 530.8M
Liabilities
Current Liabilities
Accounts Payable i 72.3M 55.7M 81.8M 71.4M 41.9M
Short-term Debt i - - - - -
Current Portion of Long-term Debt - - - - -
Other Current Liabilities 32.3M 20.4M 9.2M 8.8M 6.8M
Total Current Liabilities i 150.7M 118.2M 131.9M 110.3M 82.1M
Non-Current Liabilities
Long-term Debt i - - - - -
Deferred Tax Liabilities i 3.5M 3.7M 5.1M 4.6M 5.4M
Other Non-Current Liabilities 24.2M 14.2M 4.8M 5.6M 29.8M
Total Non-Current Liabilities i 109.6M 92.0M 68.5M 50.3M 45.6M
Total Liabilities i 260.3M 210.2M 200.4M 160.6M 127.7M
Equity
Common Stock i 37.2M 37.2M 37.2M 37.2M 37.2M
Retained Earnings i 645.9M 547.8M 458.7M 395.2M 353.5M
Treasury Stock i 51.6M 36.7M 37.0M 37.3M 37.0M
Other Equity - - - - -
Total Shareholders Equity i 713.3M 606.2M 516.5M 442.4M 403.1M
Key Metrics
Total Debt i 0 0 0 0 0
Working Capital i 356.4M 421.9M 310.2M 237.5M 179.2M

Balance Sheet Composition

Badger Meter Cash Flow Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Operating Activities
Net Income i 141.6M 124.9M 92.6M 66.5M 60.9M
Depreciation & Amortization i 34.6M 32.2M 28.1M 26.2M 27.9M
Stock-Based Compensation i 9.2M 6.2M 5.2M 3.1M 2.3M
Working Capital Changes i -11.6M 30.4M -7.3M -24.6M 999.0K
Operating Cash Flow i 173.0M 182.7M 109.0M 65.6M 89.0M
Investing Activities
Capital Expenditures i - -12.8M -12.0M -5.9M -6.7M
Acquisitions i -184.0M -3.0M -17.1M 0 -45.3M
Investment Purchases i - - - - -
Investment Sales i - - - - -
Investing Cash Flow i -184.0M -15.8M -29.1M -5.9M -51.4M
Financing Activities
Share Repurchases i -15.0M 0 0 -427.0K -460.0K
Dividends Paid i -43.5M -35.8M -29.1M -24.9M -22.2M
Debt Issuance i - - - - -
Debt Repayment i - - - - 0
Financing Cash Flow i -58.5M -35.8M -29.1M -25.3M -22.5M
Free Cash Flow i 169.7M 142.2M 98.1M 76.6M 80.8M
Net Change in Cash i -69.6M 131.0M 50.8M 34.4M 15.1M

Cash Flow Trend

Badger Meter Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 27.83
Forward P/E 24.82
Price to Book 5.20
Price to Sales 4.00
PEG Ratio -0.99

Profitability Ratios

Profit Margin 14.56%
Operating Margin 17.40%
Return on Equity 19.60%
Return on Assets 11.31%

Financial Health

Current Ratio 3.00
Debt to Equity 0.00
Beta 0.90

Per Share Data

EPS (TTM) $4.42
Book Value per Share $23.66
Revenue per Share $30.55

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
BMI 3.6B 27.83 5.20 19.60% 14.56% 0.00
Coherent 63.0B 334.34 7.41 3.24% 4.66% 39.90
Keysight 59.4B 59.84 9.38 17.22% 16.95% 44.67
Cognex 9.1B 79.79 6.07 7.61% 11.51% 5.13
Esco Technologies 8.3B 65.31 5.21 8.91% 26.01% 13.53
Sensata Technologies 6.1B 194.76 2.14 1.10% 0.85% 104.93
Nippun Rana

Nippun Rana

Chasing the market trend!

Hi, I’m Nippun, a tech enthusiast from Haryana, India. I have been coding since 2010 and using my coding skills in the share market since 2020. I have been coding scripts in Pinescript that work on Tradingview app/web. I love learning about new technology and applying it to solve real-world problems. Coding and share-market are my passions, and I enjoy finding and fixing bugs in code. I aim to share my skill set and experience that can positively impact society. Feel free to connect with me, an...

Financial data is updated regularly. All figures are in the company's reporting currency.