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BMI · NYSE · United States · Totalizing Fluid Meters & Counting Devices
In shortBADGER METER INC is profitable, generates cash and holds more cash than debt, with revenue growing (+10.9% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 20.0% | 83/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 15.5% | 82/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 21.5% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 19.3% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 3.36× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.00× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 8.71 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 18.5% | 94/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 1.20× | 100/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 5.5% | 91/100 |
| Operating margin volatility | 2.1% | 90/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 17.5% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | 28.5% | 100/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 505 | 566 | 704 | 827 | 917 |
| Cost of revenue | 300 | 346 | 427 | 497 | 535 |
| Gross profit | 205 | 220 | 276 | 329 | 382 |
| Research & development | 15 | 16 | 19 | 19 | 22 |
| Selling, general & admin | 127 | 133 | 158 | 171 | 199 |
| Operating income | 79 | 87 | 118 | 158 | 183 |
| Pre-tax income | 79 | 88 | 122 | 167 | 189 |
| Income tax | 18 | 21 | 29 | 42 | 47 |
| Net income | 61 | 66 | 93 | 125 | 142 |
| Diluted EPS | $2.08 | $2.26 | $3.14 | $4.23 | $4.79 |
| Diluted shares (millions) | 0 | 0 | 29 | 30 | 30 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of BADGER METER INC are included in the Investor plan. Try free for 7 days →
8.71 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Sep 30, 2026 · Data updated Oct 23, 2026