BADGER METER INC

BMI

BADGER METER INC

BMI

Insider Sentiment (TTM):

Last Purchase:2026-04-23Last Sale:2026-03-06Shares Purchased (TTM):14,948Shares Sold (TTM):3,989

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:28,777,324Shares Outstanding:29,214,558Institutional Ownership Pct.:98.50%

Earnings Market Reaction:

Filing Date:2026-07-23Price on Filing Date:N/APrevious Close:N/A% Change:N/A

Companies in Totalizing Fluid Meters & Counting Devices

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash	96	205	226	202	165	131	295	259	226	199	192	163
Accounts Receivable Net Current	121	110	112	115	118	112	84	93	106	92	84	89
Inventory Net
Inventory Finished Goods	19	25	23	26	24	23	24	36	39	37	35	35
Inventory Work In Process	33	35	29	30	34	38	37	39	39	41	41	36
Inventory Raw Materials	127	115	100	96	89	88	83	84	83	82	78	77
Inventory Net	178	175	152	153	147	149	143	159	161	160	154	148
Prepaid Expense And Other Assets Current	21	17	17	25	18	19	17	18	16	19	13	23
Assets Current	416	508	507	495	448	412	540	529	509	471	442	423
Property Plant And Equipm…
Buildings And Improvements Gross	-	-	75	-	-	-	72	-	-	-	72	-
Machinery And Equipment Gross	-	-	164	-	-	-	152	-	-	-	145	-
Property Plant And Equipment Gross	257	252	248	246	245	238	233	232	229	227	226	228
Accumulated Depreciation Depletion And Amortizatio…	-173	-171	-169	-168	-167	-162	-159	-158	-157	-154	-152	-154
Property Plant And Equipment Net	83	81	80	78	78	76	74	73	72	73	74	74
Finite Lived Intangible Assets Net	163	114	118	122	126	131	45	49	50	52	54	55
Other Assets Noncurrent	19	19	19	14	16	17	13	14	13	11	11	12
Deferred Income Tax Assets Net	14	14	14	33	33	33	33	23	23	23	23	13
Goodwill	303	235	236	237	236	232	112	115	113	113	113	113
Assets	998	971	974	978	936	900	816	803	781	743	717	690
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	98	106	72	70	74	74	56	77	96	91	82	85
Employee Related Liabilities Current	19	16	38	34	24	17	35	30	22	16	30	26
Product Warranty Accrual Classified Current	9	8	8	9	10	7	7	16	14	12	11	11
Other Liabilities Current	46	39	32	41	31	43	20	6	6	16	9	7
Liabilities Current	172	169	151	153	139	141	118	129	138	135	132	129
Deferred Revenue Noncurrent	79	73	73	69	69	65	64	61	59	54	50	-
Deferred Income Tax Liabilities Net	17	3	3	24	24	24	4	5	5	5	5	6
Other Postretirement Defined Benefit Plan Liabilit…	3	2	2	3	3	3	3	4	4	4	4	4
Other Postretirement Benefits Payable Noncurrent	7	7	7	6	8	6	7	7	6	5	5	5
Product Warranty Accrual Noncurrent	15	14	13	13	10	11	9	-	-	-	-	-
Other Liabilities Noncurrent	23	11	11	6	7	7	5	6	6	5	5	53
Liabilities Noncurrent	143	111	110	-	-	-	92	-	-	-	68	-
Stockholders Equity
Common Stock Value	37	37	37	37	37	37	37	37	37	37	37	37
Additional Paid In Capital Common Stock	80	77	75	73	71	68	66	64	63	60	59	58
Retained Earnings Accumulated Deficit	680	662	646	624	601	576	548	527	505	480	459	442
Accumulated Other Comprehensive Income Loss Net Of…	0	4	6	5	6	-3	-8	-1	-5	-5	-2	-7
Treasury Stock Value	-114	-89	-52	-36	-36	-36	-37	-37	-37	-37	-37	-37
Stockholders Equity	683	690	713	703	678	642	606	591	563	536	516	493
Liabilities And Stockholders Equity	998	971	974	978	936	900	816	803	781	743	717	690
Common Stock Par Or Stated Value Per Share	1	1	1	1	1	1	1	1	1	1	1	1
Common Stock Shares Authorized	80	80	80	80	80	80	80	80	80	80	80	80
Common Stock Shares Issued	37	37	37	37	37	37	37	37	37	37	37	37
Treasury Stock Common Shares	8	8	8	8	8	8	8	8	8	8	8	8

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	0.72%	16.54%	27.56%	-	-	-	-	-	-	-	-	-
2025	-	-	-	-2.70%	-7.20%	-9.75%	-3.67%	1.45%	-4.15%	-7.68%	-2.24%	-25.36%
2024	11.09%	4.97%	6.14%	-0.76%	3.93%	12.43%	7.61%	8.22%	2.91%	-2.25%	-20.37%	5.85%
2023	-	-	-	-3.23%	-2.25%	-17.33%	8.39%	11.77%	11.02%	2.48%	1.27%	20.28%
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Performance and Valuation Metrics

Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	2.42	3.00	3.36	3.22	3.23	2.92	4.57	4.10	3.69	3.48	3.35	3.28
Quick Ratio	1.26	1.86	2.25	2.06	2.04	1.72	3.21	2.73	2.41	2.16	2.09	1.96
Working Capital	244.33M	338.88M	356.36M	341.16M	309.57M	270.56M	421.91M	400.13M	371.10M	335.50M	310.23M	294.17M
Leverage & Debt
Debt to Equity	0.46	0.41	0.36	0.22	0.20	0.22	0.35	0.22	0.25	0.25	0.39	0.26
Interest Coverage TTM	37.61	34.33	35.80	27.70	23.36	20.28	18.34	21.28	23.65	26.17	29.17	34.81
Debt Ratio	0.32	0.29	0.27	0.16	0.15	0.16	0.26	0.16	0.18	0.18	0.28	0.19
Efficiency & Turnover
Asset Turnover TTM	0.91	0.96	1.02	1.01	1.02	1.04	1.08	1.08	1.09	1.08	1.07	1.06
Days Sales Outstanding TTM	49.49	45.21	39.16	42.22	46.76	43.70	37.06	41.43	44.42	43.49	41.54	47.11
Receivables Turnover TTM	7.38	8.07	9.32	8.64	7.81	8.35	9.85	8.81	8.22	8.39	8.79	7.75
Per Share Metrics
Diluted EPS TTM	4.31	4.45	4.79	4.69	4.59	4.54	4.23	4.03	3.82	3.47	3.14	2.90
Free Cash Flow Per Share TTM	5.18	5.79	5.77	5.65	5.44	5.22	4.84	4.45	3.99	3.52	3.35	3.10
Dividend Per Share TTM	1.61	1.55	1.48	1.42	1.36	1.29	1.22	1.15	1.08	1.04	0.99	0.95
Margin Metrics
Gross Profit Margin TTM	41.31%	41.37%	41.68%	41.26%	41.18%	40.76%	39.83%	39.55%	39.25%	39.26%	39.29%	39.18%
Operating Profit Margin TTM	18.58%	18.86%	20.01%	19.93%	19.93%	20.03%	19.11%	18.76%	18.12%	17.49%	16.78%	16.22%
Net Profit Margin TTM	14.27%	14.56%	15.45%	15.40%	15.53%	15.74%	15.12%	14.80%	14.44%	13.81%	13.16%	12.78%
Growth Metrics
Net Revenue Growth (1Y)	0.80%	5.19%	10.90%	12.11%	11.82%	15.08%	17.48%	20.25%	24.00%	25.07%	24.40%	20.67%
Net Income Growth (1Y)	-7.39%	-2.71%	13.36%	16.67%	20.25%	31.17%	34.93%	39.25%	45.87%	42.99%	39.25%	28.96%
EPS Growth (1Y)	-6.19%	-2.16%	13.20%	16.46%	20.03%	30.91%	34.60%	38.90%	45.43%	42.68%	38.94%	28.62%
Valuation Metrics
P/E TTM	34.28	33.97	35.99	37.55	52.53	41.16	49.17	53.12	47.67	45.54	47.86	48.29
P/B TTM	6.31	6.43	7.15	7.42	10.52	8.61	10.13	10.69	9.55	8.70	8.58	8.37
P/S TTM	4.89	4.95	5.56	5.78	8.16	6.48	7.43	7.86	6.88	6.29	6.30	6.17
Market Cap	4.31B	4.44B	5.10B	5.21B	7.13B	5.52B	6.14B	6.32B	5.38B	4.66B	4.43B	4.12B
Enterprise Value	4.21B	4.23B	4.87B	5.01B	6.96B	5.39B	5.85B	6.06B	5.15B	4.46B	4.24B	3.96B
Calculated Values
Free Cash Flow TTM	150.30M	169.08M	169.67M	166.30M	160.06M	153.49M	142.22M	130.71M	117.17M	103.20M	98.11M	90.73M
Net Debt	-95.73M	-205.45M	-226.02M	-201.69M	-165.21M	-131.36M	-295.31M	-258.96M	-226.21M	-199.31M	-191.78M	-162.91M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-04-23Purchase

Owner: Wrocklage, Robert

Title: EVP-N.A. Muncipal Utility

Shares: 1,000

Price/Share: $122.35

Value: $122,350.00

Shares Owned: 23,321

Relationship: Officer

Ownership: Direct

2026-04-21Purchase

Owner: Bockhorst, Kenneth

Title: Chairman, President & CEO

Shares: 2,200

Price/Share: $117.53

Value: $258,566.00

Shares Owned: 51,676

Relationship: Director,Officer

Ownership: Direct

2026-04-21Purchase

Owner: Htwe, Richard

Title: VP-Global Operations

Shares: 1,700

Price/Share: $116.13

Value: $197,421.00

Shares Owned: 7,603

Relationship: Officer

Ownership: Direct

2026-04-21Purchase

Owner: Callahan, Edward F.

Title: VP-Engineering

Shares: 858

Price/Share: $116.30

Value: $99,785.40

Shares Owned: 1,186

Relationship: Officer

Ownership: Direct

2026-04-21Purchase

Owner: Tarantino, Christina M.

Title: VP-Controller

Shares: 870

Price/Share: $113.80

Value: $99,006.00

Shares Owned: 1,801

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-04-23	Wrocklage, Robert	Officer	EVP-N.A. Muncipal Utility	Direct	Purchase	1,000	122.35	$122,350.00	23,321	4
2026-04-21	Bockhorst, Kenneth	Director,Officer	Chairman, President & CEO	Direct	Purchase	2,200	117.53	$258,566.00	51,676	4
2026-04-21	Htwe, Richard	Officer	VP-Global Operations	Direct	Purchase	1,700	116.13	$197,421.00	7,603	4
2026-04-21	Callahan, Edward F.	Officer	VP-Engineering	Direct	Purchase	858	116.30	$99,785.40	1,186	4
2026-04-21	Tarantino, Christina M.	Officer	VP-Controller	Direct	Purchase	870	113.80	$99,006.00	1,801	4
2026-03-06	Stoll, Kimberly K	Officer	VP-Cust Serv & GM SmartCover	Direct	Sale	143	144.50	$20,663.50	3,523	4
2026-03-04	Begale, Fred J	Officer	VP-Utility NPD	Direct	Sale	2,064	150.00	$309,600.00	3,040	4
2026-03-03	Stoll, Kimberly K	Officer	VP-Cust Serv & GM SmartCover	Direct	Sale	1,634	149.01	$243,482.34	3,256	4
2026-02-27	Stoll, Kimberly K	Officer	VP-Cust Serv & GM SmartCover	Direct	Sale	148	150.38	$22,256.24	4,890	4
2026-02-10	Bockhorst, Kenneth	Director,Officer	Chairman, President & CEO	Direct	Purchase	3,300	152.42	$502,986.00	40,013	4
2026-02-09	Wrocklage, Robert	Officer	EVP-N.A. Muncipal Utility	Direct	Purchase	1,650	152.35	$251,377.50	19,541	4
2026-02-05	Htwe, Richard	Officer	VP-Global Operations	Direct	Purchase	3,370	148.71	$501,152.70	4,885	4/A
2025-03-05	Bockhorst, Kenneth	Director,Officer	Chairman, President & CEO	Direct	Sale	16,073	209.74	$3,371,151.02	34,961	4
2025-03-05	Bergum, William R A	Officer	VP-Gen. Counsel and Secretary	Direct	Sale	1,147	209.74	$240,571.78	12,709	4
2025-03-05	Stoll, Kimberly K	Officer	VP-Sales & Marketing	Direct	Sale	1,376	209.74	$288,602.24	3,217	4
2025-03-05	Begale, Fred J	Officer	VP-Engineering	Direct	Sale	936	209.74	$196,316.64	2,072	4
2025-03-05	Bauer, Karen M.	Officer	VP-IR, Strategy & Treasurer	Direct	Sale	1,147	209.74	$240,571.78	5,076	4
2025-03-04	Stoll, Kimberly K	Officer	VP-Sales & Marketing	Direct	Sale	243	209.50	$50,908.50	4,593	4
2025-03-04	Bauer, Karen M.	Officer	VP-IR, Strategy & Treasurer	Direct	Sale	208	209.50	$43,576.00	6,223	4
2025-03-04	Bergum, William R A	Officer	VP-Gen. Counsel and Secretary	Direct	Sale	195	209.50	$40,852.50	13,856	4
2025-03-04	Bockhorst, Kenneth	Director,Officer	Chairman, President & CEO	Direct	Sale	1,586	209.50	$332,267.00	51,034	4
2024-08-21	Stoll, Kimberly K	Officer	VP-Sales & Marketing	Direct	Sale	1,097	205.00	$224,885.00	3,861	4
2024-03-06	Begale, Fred J	Officer	VP-Engineering	Direct	Sale	1,203	162.92	$195,992.76	2,181	4
2024-03-06	Bergum, William R A	Officer	VP-Gen. Counsel and Secretary	Direct	Sale	1,339	162.92	$218,149.88	13,263	4
2024-03-04	Bergum, William R A	Officer	VP-Gen. Counsel and Secretary	Direct	Sale	194	159.55	$30,952.70	13,672	4
2024-03-04	Begale, Fred J	Officer	VP-Engineering	Direct	Sale	208	159.55	$33,186.40	2,566	4
2024-02-26	Bergum, William R A	Officer	VP-Gen. Counsel and Secretary	Direct	Sale	1,416	156.23	$221,221.68	13,422	4
2023-08-02	Adams, Todd A.	Director	-	Direct	Sale	2,627	162.64	$427,255.28	0	4
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Institutional Ownership

No data available for chart

2026-03-31

98.50%

Inst. Shares: 28,777,324

Shares Outstanding: 29,214,558

2025-12-31

95.93%

Inst. Shares: 28,200,689

Shares Outstanding: 29,398,000

2025-09-30

91.41%

Inst. Shares: 26,896,042

Shares Outstanding: 29,424,004

2025-06-30

90.49%

Inst. Shares: 26,617,727

Shares Outstanding: 29,414,457

2025-03-31

89.90%

Inst. Shares: 26,411,077

Shares Outstanding: 29,378,491

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	28,777,324	29,214,558	98.50%
2025-12-31	28,200,689	29,398,000	95.93%
2025-09-30	26,896,042	29,424,004	91.41%
2025-06-30	26,617,727	29,414,457	90.49%
2025-03-31	26,411,077	29,378,491	89.90%
2024-12-31	25,513,253	29,356,000	86.91%
2024-09-30	24,405,241	29,369,923	83.10%
2024-06-30	24,705,854	29,361,034	84.15%
2024-03-31	24,181,200	29,320,483	82.47%
2023-12-31	24,419,526	29,284,000	83.39%
2023-09-30	24,339,639	29,294,886	83.08%
2023-06-30	23,910,849	29,272,693	81.68%
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BADGER METER INC (BMI) — SEC Financial Statements & Analysis

BADGER METER INC (BMI) is a totalizing fluid meters & counting devices company, incorporated in WI. BADGER METER INC trades on NYSE as: BMI. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), BADGER METER INC reported a 0.80% year-over-year revenue growth, a Gross Profit Margin of 41.31% (TTM), a Debt-to-Equity ratio of 0.46x, a Price-to-Sales (P/S) ratio of 4.89x (TTM), a Price-to-Book (P/B) ratio of 6.31 (TTM), at a market cap of $4.31B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 0.80%
Gross Profit Margin TTM: 41.31%
Debt To Equity: 0.46x
P/S TTM: 4.89x
P/B TTM: 6.31
Market Cap: $4.31B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is BADGER METER INC in?

BADGER METER INC (BMI) operates in the Totalizing Fluid Meters & Counting Devices industry.

What is BMI's market cap?

BADGER METER INC (BMI) has a market capitalization of $4.31B as of 2026-06-30.

What is BMI's P/E ratio?

BADGER METER INC (BMI)'s trailing twelve month P/E ratio is 34.28x as of 2026-06-30.

What exchange does BMI trade on?

BADGER METER INC (BMI) trades on the NYSE.

Where is BADGER METER INC incorporated?

BADGER METER INC is incorporated in WI.

BADGER METER INC (BMI) — SEC Financial Statements & Analysis

Frequently Asked Questions

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