Badger Meter financials
$125.99−0.43%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $916.7M | $826.6M | $703.6M | $565.6M | $505.2M | $425.5M | $424.6M | $433.7M | $402.4M | $393.8M |
| Gross profit | $382.1M | $329.2M | $276.4M | $220.0M | $205.5M | $168.2M | $163.5M | $162.3M | $155.7M | $150.6M |
| Gross margin | 41.7% | 39.8% | 39.3% | 38.9% | 40.7% | 39.5% | 38.5% | 37.4% | 38.7% | 38.2% |
| Operating income | $183.4M | $157.9M | $118.0M | $87.2M | $78.7M | $65.0M | $61.9M | $37.0M | $55.6M | $50.8M |
| Net income | $141.6M | $124.9M | $92.6M | $66.5M | $60.9M | $49.3M | $47.2M | $27.8M | $34.6M | $32.3M |
| Net margin | 15.5% | 15.1% | 13.2% | 11.8% | 12.1% | 11.6% | 11.1% | 6.4% | 8.6% | 8.2% |
| Diluted EPS | $4.79 | $4.23 | $3.14 | $2.26 | $2.08 | $1.69 | $1.61 | $0.95 | $1.19 | $1.11 |
| EBITDA | $218.0M | $190.1M | $146.2M | $113.4M | $106.6M | $90.2M | $86.0M | $61.3M | $80.0M | $73.2M |
| Operating cash flow | $183.7M | $155.0M | $110.1M | $82.5M | $87.5M | $89.6M | $80.7M | $60.4M | $49.8M | $56.2M |
| Free cash flow | $169.7M | $142.2M | $98.1M | $76.6M | $80.8M | $80.5M | $73.2M | $51.7M | $34.7M | $45.6M |
| Diluted shares | 29.6M | 29.5M | 29.5M | 29.4M | 29.3M | 29.2M | 29.2M | 29.2M | 29.1M | 29.1M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $226.0M | $295.3M | $191.8M | $138.1M | $87.2M | $72.3M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total assets | $973.6M | $816.4M | $716.9M | $603.0M | $530.8M | $471.2M |
| Total liabilities | $260.3M | $210.2M | $200.4M | $160.6M | $127.7M | $110.0M |
| Shareholders' equity | $713.3M | $606.2M | $516.5M | $442.4M | $403.1M | $361.3M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology