Badger Meter, Inc.: stock overview

BMINYSEIndustrials · Totalizing Fluid Meters & Counting Devices

Price

$154.72

November 13, 2026Market cap $4.5B

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  • The full history: 17 fiscal years, from 2009
  • The estimated fair value, with its range and its certainty
  • The full analysis, 18 a month
  • More questions to the chat on its filings
  • Excel with every year
  • An email when it reports, changes its dividend or an officer buys

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In short

Badger Meter had revenue of $881M over the last 12 months and net income of $127M, a net margin of 14.4%. Revenue grew by 16.6% a year on average over the last 5 years. At $154.72 the shares trade at a P/E of 35.7, against a median of 49.2 over the last 5 fiscal years. It holds more cash than debt, by $68M. It pays a dividend yielding 1.06%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$4.5B
29.18M shares
P/E
35.7
Today35.7
Median49.2
Revenue, 12 months
$881M
+16.6% a year over 5 years
Net margin
14.4%
2025: 15.5%, above 83% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+14.1% a year over 2 years

  • 202510-K
    Revenue$917M
  • 202410-K
    Revenue$827M
  • 202310-K
    Revenue$704M

Fiscal years in figures

BMI's revenue, profit, cash flow and dividend with each year-end price, from 2009 to 2022, 14 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $5.1B
$4.5B
Enterprise value 
$4.4B
P/E 3-year median: 49.2
35.7
EV / EBIT 
26.9
EV / Revenue 
5.1
P/B 3-year median: 8.8
6.9
FCF yield 3-year median: 2.3%
3.2%
Earnings yield 3-year median: 2.0%
2.8%

Profitability

Gross margin 
41.6%
Operating margin 
18.8%
Net margin 3-year median: 15.1%
14.4%
ROIC 
18.0%
ROIC, 5-year average 
18.0%
ROE 
18.4%

Growth

Revenue, yearly change 
+10.9%
EPS, yearly change 
+13.2%
FCF, yearly change 
+19.3%
Revenue, average a year 
+16.6%
EPS, average a year 
+23.2%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$68M
Total debt 
$13M
Of which operating leases 
$13M
Net cash 
$68M
Net debt / EBITDA 
-0.4x
Interest cover 
–
Current ratio 
2.48

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield 3-year median: 0.6%
1.06%
Buybacks 
0.33%
Total returned 
1.39%
Shares, yearly change 
-0.8%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 38).

Gross margin

41.7%

Above 21% of the 161 companies in its industry, and 58% of all.

Operating margin

20.0%

Above 88% of the 186 companies in its industry, and 83% of all.

Net margin

15.5%

Above 83% of the 189 companies in its industry, and 76% of all.

ROE

19.9%

Above 88% of the 174 companies in its industry, and 84% of all.

ROA

14.5%

Above 93% of the 190 companies in its industry, and 94% of all.

Revenue growth

10.9%

Above 60% of the 186 companies in its industry, and 65% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
BADGER METER INC
CIK
9092
Exchange
NYSE
Industry (SIC)
3824 · Totalizing Fluid Meters & Counting Devices
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
29.18M

Other companies: Industrials

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The full analysis

What do Badger Meter's filings show?

These are Badger Meter's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about BMI

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What is BMI's market cap?

Badger Meter, Inc.'s market cap is $4.5B, at a price of $154.72 on November 13, 2026 and 29.18M shares.

What is BMI's P/E?

BMI's P/E is 35.7, on earnings per share of $4.33 over the last 12 months. The median over the last 5 fiscal years was 49.2.

How much revenue does BMI have?

Badger Meter had revenue of $881M over the last 12 months. Over the last 5 years it changed by +16.6% a year on average.

Does BMI pay a dividend?

Yes. Badger Meter paid $1.64 per share over the last 12 months, a yield of 1.06% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Badger Meter, Inc.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.