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Badger Meter, Inc. BMI R2K

Technology · Scientific & Technical Instruments · United States
https://www.badgermeter.com

Badger Meter, Inc. manufactures and markets flow measurement, quality, control, and communication solutions worldwide. The company offers Utility water smart metering solutions and software technologies and services to municipal water utility market. It also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives. In addition, the company offers ORION Cellular endpoints to power network as a service; ORION mobile read endpoints support for deploying AMR solution; radio products; hardware, instruments, and sensors, and related software, to enhance connected data to a water utility's operation; water quality monitoring solutions, including optical sensing and electrochemical instruments; and high frequency pressure and leak detection sensors to aid in burst pipe and leak events; as well as BEACON, a secure cloud-hosted software suite that establishes alerts for specific conditions and allows consumer engagement tools that permit end water user to view and manage their water usage activity. Its flow instrumentation products are used in water/wastewater, heating, ventilating and air conditioning, and corporate sustainability markets. The company serves water utilities, commercial, and industrial industries; and provides training, project management, technical support, and other collaborative services for customers. It sells its products and software to employees, resellers, and representatives. The company was incorporated in 1905 and is based in Milwaukee, Wisconsin.

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$123.90
-49.56% 1Y

Market & Price

Market Cap
$3.62B
Current Price
$123.90
High / Low (52W)
$251.52 / $113.03
Beta
0.68

Valuation

Stock P/E
28.03
Industry PE
32.74
Forward P/E
23.89
PEG Ratio
3.12
Book Value
$23.66
Price to Book
5.24
P/S
4.03
EV/EBITDA
16.96
Dividend Yield
1.29%

Profitability & Returns

ROCE
22.29%
ROE
19.60%
ROA
11.31%
Profit Margin
14.56%
Op Margin
17.40%
EPS (Latest Qtr)
$0.93
EPS (TTM)
$4.42

Balance Sheet & Liquidity

Debt/Equity
-
Quick Ratio
1.86
Current Ratio
3.00
Debt
$0
Total Assets
$973.58M
Current Assets
$507.08M
Working Capital
$356.36M

Ownership

Promoter Holding
0.60%
Chg in Prom Hold
-
FII / Inst Holding
110.25%
Chg in FII Hold
0.02%

Financial Snapshot

Enterprise Value
$3.41B
Total Revenue (TTM)
$896.73M
EBITDA
$201.14M
Free Cash Flow
$140.97M
Operating Cash Flow
$184.56M
Shares Outstanding
29.19M
Gross Margin
41.37%
Payout Ratio
34.84%

Growth (CAGR)

Revenue 5Y
17.46%
Profit 5Y
28.66%
Revenue (YoY)
-9.00%
Earnings (YoY)
-28.50%

PROS

  • Healthy ROCE of 22.3%.
  • Compounding revenue at 17.5% over 5 years.
  • Profit CAGR of 28.7% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 50.7% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 BMI Badger Meter, Inc. R2K 123.90 28.03 $3.62B 1.29% 22.29% 19.60% 17.46% 28.66%
2 NVDA NVIDIA Corporation NDXSPXAI 211.14 32.38 $5.11T 0.47% 81.14% 114.29% 100.05% 201.80%
3 AAPL Apple Inc. NDXSPX 312.06 37.73 $4.58T 0.35% 68.72% 141.47% 1.81% 3.92%
4 MSFT Microsoft Corporation NDXSPXAI 450.24 26.82 $3.34T 0.81% 26.37% 34.01% 12.42% 11.87%
5 TSM Taiwan Semiconductor Manufacturing Company Limited AI 418.45 35.86 $2.17T 0.91% 32.04% 36.21% 18.94% 19.57%
6 MU Micron Technology, Inc. NDXSPXAI 971.00 45.87 $1.10T 0.06% 14.20% 39.82% 6.71% -0.57%
7 AMD Advanced Micro Devices, Inc. NDXSPXAI 516.10 172.61 $841.55B - 6.33% 8.06% 13.64% 48.64%
8 ORCL Oracle Corporation SPXAI 225.78 40.46 $649.35B 0.89% 13.07% 57.57% 10.59% 22.81%
9 ASML ASML Holding N.V. NDXAI 1,612.76 53.76 $621.59B 0.54% 43.81% 52.24% 15.55% 19.55%
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Quarterly Results

Figures in USD.

Metric Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue ---101.61M104.18M100.01M96.65M105.04M113.65M110.63M104.41M104.88M103.54M108.65M107.56M108.51M91.12M113.59M112.33M117.84M122.87M128.74M135.75M132.40M137.83M148.01M147.32M159.10M175.86M186.19M182.44M196.28M216.66M--222.21M238.09M235.65M220.71M202.28M
Cost of Revenue -----------------------------------126.77M140.28M139.81M127.72M117.95M
Gross Profit 39.40M38.65M33.52M38.65M41.05M37.04M39.00M36.75M41.50M43.95M40.15M40.46M40.28M41.67M41.12M43.32M35.85M45.02M44.05M49.36M50.10M51.18M54.84M50.72M54.76M57.52M56.97M62.82M69.43M72.72M71.47M77.18M85.37M--95.44M97.81M95.84M92.99M84.33M
Operating Expenses -----------------------------------46.01M52.95M49.75M49.94M49.16M
Operating Income 14.92M13.94M-13.56M16.84M12.31M-9.97M16.35M15.73M-14.33M15.03M16.45M-16.02M12.66M19.51M-17.75M18.68M19.44M-18.86M22.09M23.87M-25.05M29.50M31.42M-36.58M41.51M--49.42M44.86M46.08M43.05M35.17M
EBITDA -----------------------------------57.71M53.66M54.79M51.85M44.23M
Interest Expense ----------------------------------------
Pretax Income -----------------------------------50.79M45.79M47.44M44.64M36.34M
Tax Provision -----------------------------------12.39M11.20M12.37M11.07M9.00M
Net Income 9.40M8.79M6.11M8.75M10.61M7.97M7.23M7.55M6.15M2.85M11.24M10.82M11.36M12.72M12.27M11.85M9.53M14.86M13.09M13.78M13.97M15.86M17.28M14.36M16.66M17.93M17.54M19.41M22.49M25.97M24.72M29.13M33.06M--38.40M34.58M35.08M33.58M27.34M
Diluted EPS 0.320.300.210.300.360.270.250.260.210.100.390.370.390.440.420.410.330.510.450.470.480.540.590.490.570.610.600.660.760.880.840.991.12--1.301.171.191.140.93

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue -------393.76M402.44M433.73M424.62M425.54M-565.57M703.59M826.56M916.66M
Cost of Revenue -------------345.60M427.15M497.37M534.59M
Gross Profit 97.01M102.82M89.82M122.25M116.99M131.14M135.78M150.58M155.75M162.35M163.53M168.25M-219.97M276.44M329.18M382.07M
Operating Expenses -------------132.68M158.39M171.25M198.65M
Operating Income 42.24M44.82M27.53M44.47M39.11M46.05M42.37M52.67M56.59M56.87M62.15M65.16M-87.30M118.05M157.94M183.42M
EBITDA -------------113.54M146.16M190.12M218.00M
Interest Expense -----------------
Pretax Income -------------87.72M121.97M166.50M188.66M
Tax Provision -------------21.22M29.37M41.56M47.02M
Net Income 34.17M28.66M19.16M28.03M24.62M29.68M25.94M32.30M34.57M27.79M47.18M49.34M-66.50M92.60M124.94M141.63M
Diluted EPS 2.281.911.27----1.111.190.951.611.69-2.263.144.234.79
R&D Expense -7.20M8.10M9.60M10.50M9.50M10.60M10.60M10.60M11.10M11.90M11.60M14.70M15.80M19.00M19.20M21.60M

Compounded Sales Growth

5 Years:17.46%
1 Year:-9.00%

Compounded Profit Growth

5 Years:28.66%
1 Year:-28.50%

Stock Price Performance

1 Year:-49.56%
6 Months:-31.75%
3 Months:-18.45%
1 Month:+5.48%

Balance Sheet (Annual)

Figures in USD.

Metric Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets --215.86M218.91M290.45M316.06M341.16M355.48M349.70M391.73M392.69M421.89M471.22M-603.05M716.92M816.41M973.58M
Current Assets --------------347.83M442.18M540.12M507.08M
Cash & Equivalents ---------11.16M13.09M48.87M72.27M-138.05M191.78M295.31M226.02M
Inventory --------------119.86M153.67M143.41M151.94M
Receivables --------------76.65M83.51M84.33M112.36M
Total Liabilities --------------160.62M200.44M210.18M260.28M
Current Liabilities --32.68M22.41M94.08M98.04M107.08M104.54M75.84M93.11M60.02M57.25M68.04M-110.31M131.95M118.20M150.72M
Long Term Debt ------------------
Total Debt ------------------
Total Equity 111.02M144.46M168.38M179.28M171.25M196.56M214.33M232.28M256.21M277.45M303.50M331.07M361.26M-442.42M516.48M606.23M713.29M
Shares Outstanding --------------37.22M37.22M37.22M37.22M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 36.59M18.40M31.32M34.80M34.82M35.73M35.83M56.19M49.75M60.35M80.71M89.58M-82.45M110.12M155.03M183.70M
Investing Cash Flow -7.75M-26.05M-9.29M-59.72M-29.71M-33.16M-21.67M-12.40M-35.45M-16.69M-7.50M-38.19M--5.89M-29.13M-15.82M-198.05M
Financing Cash Flow -21.49M-2.72M-20.00M26.78M-4.28M-2.74M-12.97M-44.47M-10.43M-42.14M-37.71M-27.82M--24.61M-28.09M-35.10M-57.98M
Capital Expenditure -7.75M-9.24M-5.34M-8.20M-14.31M-12.33M-19.77M-10.60M-15.07M-8.64M-7.50M-9.06M--5.89M-12.00M-12.82M-14.03M
Free Cash Flow 28.84M9.16M25.98M26.60M20.51M23.40M16.07M45.59M34.68M51.71M73.22M80.52M-76.56M98.11M142.22M169.67M
Net Change in Cash -------------51.95M52.90M104.12M-72.33M
Share Buybacks -0030.00M00004.40M4.79M5.21M3.12M460.00K427.00K0015.00M

Ratios (Annual)

Figures in %.

Metric Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % -------38.2%38.7%37.4%38.5%39.5%-38.9%39.3%39.8%41.7%
Operating Margin % -------13.4%14.1%13.1%14.6%15.3%-15.4%16.8%19.1%20.0%
Net Margin % -------8.2%8.6%6.4%11.1%11.6%-11.8%13.2%15.1%15.5%
ROE % 23.7%17.0%10.7%16.4%12.5%13.8%11.2%12.6%12.5%9.2%14.2%13.7%-15.0%17.9%20.6%19.9%
ROCE % -24.5%14.0%22.6%17.9%19.7%16.9%19.2%19.0%17.1%17.0%16.2%-17.7%20.2%22.6%22.3%

Shareholding Pattern

Insiders
0.60%
Institutions
110.25%
Public Float
110.92%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 16.97% 4.95M $613.54M
2 Vanguard Portfolio Management LLC 8.40% 2.45M $303.76M
3 State Street Corporation 5.23% 1.52M $188.94M
4 Vanguard Capital Management LLC 4.46% 1.30M $161.27M
5 Geode Capital Management, LLC 3.22% 938.83K $116.32M
6 UBS Group AG 2.94% 858.17K $106.33M
7 Invesco Ltd. 2.67% 777.91K $96.38M
8 Morgan Stanley 2.27% 663.19K $82.17M
9 First Trust Advisors LP 1.92% 560.36K $69.43M
10 Dimensional Fund Advisors LP 1.85% 540.27K $66.94M

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