20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
Badger Meter, Inc. (BMI) operates in the NYSE industry and is headquartered in Milwaukee, United States with about 2,477 employees. Its market capitalization is roughly $4 billion. In the fiscal year ended 2025-12-31, BMI reported $917M in revenue and $142M in net income.
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.
Interactive charts & full statements → Open the BMI valuation workbench →
| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $881M | $917M | $827M | $704M | $566M | $505M | $426M | $425M | $434M | $402M | $394M | $378M | $365M | $334M | $320M | $263M | $277M | $250M | $280M | $235M | $230M |
| Gross Profit | $364M | $382M | $329M | $276M | $220M | $205M | $168M | $164M | $162M | $156M | $151M | $136M | $131M | $117M | $122M | $90M | $103M | $97M | $98M | $81M | $77M |
| Gross Margin % | 41.3% | 41.7% | 39.8% | 39.3% | 38.9% | 40.7% | 39.5% | 38.5% | 37.4% | 38.7% | 38.2% | 35.9% | 35.9% | 35.0% | 38.2% | 34.2% | 37.2% | 38.8% | 35.2% | 34.7% | 33.4% |
| Operating Income (EBIT) | $164M | $183M | $158M | $118M | $87M | $79M | $65M | $62M | $57M | $56M | $51M | $42M | $46M | $39M | $44M | $28M | $45M | $42M | $41M | $31M | $29M |
| Operating Margin % | 18.6% | 20.0% | 19.1% | 16.8% | 15.4% | 15.6% | 15.3% | 14.6% | 13.1% | 13.8% | 12.9% | 11.2% | 12.6% | 11.7% | 13.9% | 10.5% | 16.2% | 16.9% | 14.6% | 13.0% | 12.5% |
| Net Income | $126M | $142M | $125M | $93M | $66M | $61M | $49M | $47M | $28M | $35M | $32M | $26M | $30M | $25M | $28M | $19M | $29M | $34M | $25M | $16M | $8M |
| Net Margin % | 14.3% | 15.4% | 15.1% | 13.2% | 11.8% | 12.0% | 11.6% | 11.1% | 6.4% | 8.6% | 8.2% | 6.9% | 8.1% | 7.4% | 8.8% | 7.3% | 10.4% | 13.7% | 9.0% | 7.0% | 3.3% |
| EBITDA | $198M | $223M | $190M | $146M | $113M | $106M | $90M | $86M | $61M | $80M | $73M | $63M | $62M | $53M | $57M | $37M | $53M | $42M | $48M | $37M | $36M |
| Earnings Per Share (EPS) | $4.27 | $4.79 | $4.23 | $3.14 | $2.26 | $2.08 | $1.69 | $1.61 | $0.95 | $1.19 | $1.11 | $0.90 | $1.03 | $0.85 | $0.97 | $0.64 | $0.96 | $1.14 | $0.85 | $0.56 | $0.26 |
| Shares Outstanding (M) | 29M | 30M | 30M | 29M | 29M | 29M | 29M | 29M | 29M | 29M | 29M | 29M | 29M | 29M | 29M | 30M | 30M | 30M | 30M | 29M | 29M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $222M | $202M | $221M | $236M | $238M | $222M | $205M | $208M |
| Gross Profit | $91M | $84M | $93M | $96M | $98M | $95M | $83M | $84M |
| Gross Margin % | 40.8% | 41.7% | 42.1% | 40.7% | 41.1% | 43.0% | 40.3% | 40.2% |
| Operating Income (EBIT) | $39M | $35M | $43M | $46M | $45M | $49M | $39M | $41M |
| Operating Margin % | 17.7% | 17.4% | 19.5% | 19.6% | 18.8% | 22.2% | 19.1% | 19.5% |
| Net Income | $30M | $27M | $34M | $35M | $35M | $38M | $31M | $32M |
| Net Margin % | 13.4% | 13.5% | 15.2% | 14.9% | 14.5% | 17.3% | 15.0% | 15.4% |
| EBITDA | $49M | $39M | $53M | $56M | $55M | $59M | $47M | $49M |
| Earnings Per Share (EPS) | $1.02 | $0.93 | $1.14 | $1.19 | $1.17 | $1.30 | $1.05 | $1.08 |
| Shares Outstanding (M) | 29M | 29M | 30M | 30M | 30M | 30M | 29M | 30M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $167M | $184M | $155M | $110M | $82M | $88M | $90M | $81M | $60M | $50M | $56M | $36M | $36M | $35M | $35M | $31M | $18M | $37M | $27M | $28M | $17M |
| Capital Expenditures (CapEx) | $16M | $14M | $13M | $12M | $6M | $7M | $9M | $7M | $9M | $15M | $11M | $20M | $12M | $14M | $8M | $5M | $17M | $8M | $39M | $16M | $11M |
| Free Cash Flow (FCF) | $150M | $170M | $142M | $98M | $77M | $81M | $81M | $73M | $52M | $35M | $46M | $16M | $23M | $21M | $27M | $26M | $1M | $29M | ($12M) | $12M | $6M |
| FCF Margin % | 17.1% | 18.5% | 17.2% | 13.9% | 13.5% | 16.0% | 18.9% | 17.2% | 11.9% | 8.6% | 11.6% | 4.2% | 6.4% | 6.1% | 8.3% | 9.9% | 0.4% | 11.5% | -4.2% | 5.2% | 2.5% |
| Dividends Paid | $47M | $44M | $36M | $29M | $25M | $22M | $20M | $19M | $16M | $14M | $12M | $11M | $11M | $10M | $10M | $9M | $8M | $7M | $6M | $5M | $4M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $27M | $34M | $55M | $51M | $45M | $33M | $52M | $45M |
| Capital Expenditures (CapEx) | $5M | $4M | $4M | $3M | $4M | $3M | $5M | $3M |
| Free Cash Flow (FCF) | $22M | $29M | $51M | $48M | $41M | $30M | $47M | $42M |
| FCF Margin % | 9.8% | 14.6% | 23.0% | 20.4% | 17.1% | 13.5% | 23.1% | 20.1% |
| Dividends Paid | $12M | $12M | $12M | $12M | $10M | $10M | $10M | $10M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $998M | $974M | $816M | $717M | $603M | $531M | $471M | $422M | $393M | $392M | $350M | $353M | $341M | $316M | $290M | $219M | $216M | $191M | $195M | $150M | $139M |
| Cash & Cash Equivalents | $96M | $226M | $295M | $192M | $138M | $87M | $72M | $49M | $13M | $11M | $7M | $8M | $7M | $7M | $7M | $5M | $3M | $13M | $6M | $9M | $3M |
| Total Liabilities | $315M | $260M | $210M | $200M | $161M | $128M | $110M | $91M | $89M | $114M | $93M | $123M | $127M | $119M | $119M | $40M | $47M | $47M | $84M | $58M | $68M |
| Total Debt (Short + Long-Term) | $0M | $0M | $5M | $3M | $2M | $2M | $3M | $4M | $18M | $45M | $38M | $71M | $76M | $70M | $67M | $2M | $13M | $8M | $25M | $17M | $23M |
| Total Shareholders' Equity | $683M | $713M | $606M | $516M | $442M | $403M | $361M | $331M | $304M | $277M | $256M | $232M | $214M | $197M | $171M | $179M | $168M | $144M | $111M | $92M | $72M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive BMI viewer.
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