BADGER METER, INC. financials

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BMI CIK 0000009092

Source: EDGAR filings · Built 2026-06-03T02:24:52Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 169.67M 142.22M 98.11M 76.56M 80.76M 80.52M
EBITDA 209.22M 178.14M 137.59M 106.98M 100.01M 84.61M
Working Capital 356.36M 421.91M 310.23M 237.52M 179.21M 155.65M
Net Debt -213.33M -289.29M -186.02M -131.26M -81.00M -65.06M
Gross Margin 41.68% 39.83% 39.29% 38.89% 40.67% 39.54%
Operating Margin 20.01% 19.11% 16.78% 15.43% 15.58% 15.31%
Net Margin 15.45% 15.12% 13.16% 11.76% 12.05% 11.60%
Return on Equity (ROE) 19.86% 20.61% 17.93% 15.03% 15.11% 13.66%
Return on Assets (ROA) 14.55% 15.30% 12.92% 11.03% 11.47% 10.47%
Current Ratio 3.36× 4.57× 3.35× 3.15× 3.18× 3.29×
Debt-to-Equity 0.02× 0.01× 0.01× 0.02× 0.02× 0.02×
Effective Tax Rate 24.93% 24.96% 24.08% 24.19% 22.56% 24.07%
Cash Conversion Ratio 1.30× 1.24× 1.19× 1.24× 1.44× 1.82×
Accruals Ratio -0.04× -0.04× -0.02× -0.03× -0.05× -0.09×
SBC % of Revenue 1.00% 0.75% 0.74% 0.56% 0.46% 0.33%
CapEx Coverage 13.10× 12.10× 9.17× 14.00× 12.97× 9.89×
Free Cash Flow Per Share $5.74 $4.82 $3.33 $2.61 $2.75 $2.75

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 36.41× 50.15× 49.16× 48.24× 51.23× 55.66×
P/FCF 30.39× 44.05× 46.34× 41.83× 38.71× 34.15×
FCF Yield 3.29% 2.27% 2.16% 2.39% 2.58% 2.93%
EV / EBITDA 30.01× 42.70× 40.41× 36.71× 38.85× 40.61×
P/S 7.08× 9.55× 8.17× 7.18× 7.85× 8.23×
P/B 9.10× 13.02× 11.12× 9.17× 9.84× 9.69×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 916.66M 826.56M 703.59M 565.57M 505.20M 425.54M
Cost of Goods and Services Sold 534.59M 497.37M 427.15M 345.60M 299.71M 257.30M
Gross Profit 382.07M 329.18M 276.44M 219.97M 205.48M 168.25M
Research and Development Expense 21.60M 19.20M 19.00M 15.80M 14.70M 11.60M
Selling, General and Administrative Expense 198.65M 171.25M 158.39M 132.68M 126.76M 103.09M
Operating Income (Loss) 183.42M 157.94M 118.05M 87.30M 78.72M 65.16M
Income Tax Expense (Benefit) 47.02M 41.56M 29.37M 21.22M 17.74M 15.64M
Net Income (Loss) Attributable to Parent 141.63M 124.94M 92.60M 66.50M 60.88M 49.34M
Earnings Per Share, Basic $4.82 $4.26 $3.16 $2.28 $2.09 $1.70
Weighted Average Number of Shares Outstanding, Basic 29.40M 29.36M 29.28M 29.22M 29.14M 29.05M
Earnings Per Share, Diluted $4.79 $4.23 $3.14 $2.26 $2.08 $1.69
Weighted Average Number of Shares Outstanding, Diluted 29.57M 29.53M 29.46M 29.38M 29.34M 29.23M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value — — — — 87.17M 72.27M
Assets, Current 507.08M 540.12M 442.18M 347.83M 261.36M 223.69M
Assets 973.58M 816.41M 716.92M 603.05M 530.82M 471.22M
Liabilities, Current 150.72M 118.20M 131.95M 110.31M 82.15M 68.04M
Stockholders' Equity Attributable to Parent 713.29M 606.23M 516.48M 442.42M 403.07M 361.26M
Common Stock, Shares, Outstanding 37.22M 37.22M 37.22M 37.22M 37.22M 37.22M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 183.70M 155.03M 110.12M 82.45M 87.51M 89.58M
Payments to Acquire Property, Plant, and Equipment 14.03M 12.82M 12.00M 5.89M 6.75M 9.06M
Net Cash Provided by (Used in) Investing Activities -198.05M -15.82M -29.13M -5.89M -51.42M -38.19M
Payments for Repurchase of Common Stock 15.00M 0 0 427.00K 460.00K 3.12M
Net Cash Provided by (Used in) Financing Activities -57.98M -35.10M -28.09M -24.61M -20.51M -27.82M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (BMI CIK 0000009092), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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