(BMI) Badger Meter - Overview
Sector: Technology | Industry: Scientific & Technical Instruments | Exchange: NYSE (USA) | Market Cap: 3.509m USD | Total Return: -47.9% in 12m
Avg Turnover: 65.0M
EPS Trend: 93.3%
Qual. Beats: -1
Rev. Trend: 97.0%
Qual. Beats: -2
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Badger Meter, Inc. (BMI) specializes in flow measurement, water quality monitoring, and communication solutions for municipal and industrial markets. The company’s portfolio includes smart water metering systems, cellular endpoints, and cloud-hosted software designed to track fluid usage and detect infrastructure leaks. Beyond utility applications, Badger Meter provides instrumentation for HVAC, wastewater, and corporate sustainability sectors.
The business model relies on a transition toward smart water infrastructure, where hardware sales are increasingly supplemented by recurring software-as-a-service (SaaS) revenue. The water utility sector is characterized by high barriers to entry and long-term contracts due to the critical nature of public infrastructure and the high cost of switching metering networks.
Reviewing historical growth trends on ValueRay can provide further context on the companys valuation.
Founded in 1905 and headquartered in Milwaukee, Wisconsin, the company distributes its products globally through a mix of direct sales, resellers, and manufacturers representatives. Its integrated technology suite, such as the BEACON software, enables utilities to manage consumer engagement and operational efficiency through real-time data analytics.
- Municipal adoption of smart water metering drives long-term recurring software revenue
- Infrastructure bill funding accelerates smart water technology conversion across North American utilities
- High-margin cellular endpoint sales expansion improves consolidated gross profit margins
- Water scarcity concerns increase global demand for leak detection and quality monitoring
- Industrial flow instrumentation sales reflect broader macroeconomic capital expenditure trends
| Net Income: 130.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.17 > 0.02 and ΔFCF/TA 0.35 > 1.0 |
| NWC/Revenue: 37.79% < 20% (prev 31.74%; Δ 6.05% < -1%) |
| CFO/TA 0.19 > 3% & CFO 184.6m > Net Income 130.6m |
| Net Debt/EBITDA: error (cannot be calculated) |
| Current Ratio: 3.00 > 1.5 & < 3 |
| Outstanding Shares: last quarter (29.4m) vs 12m ago -0.68% < -2% |
| Gross Margin: 41.37% > 18% (prev 0.41%; Δ 4.10k% > 0.5%) |
| Asset Turnover: 95.89% > 50% (prev 94.76%; Δ 1.12% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
| A: 0.35 (Total Current Assets 508.3m - Total Current Liabilities 169.4m) / Total Assets 970.8m |
| B: 0.68 (Retained Earnings 661.5m / Total Assets 970.8m) |
| C: 0.18 (EBIT TTM 169.2m / Avg Total Assets 935.2m) |
| D: 2.51 (Book Value of Equity 702.6m / Total Liabilities 280.4m) |
| Altman-Z'' = 8.36 = AAA |
| DSRI: 0.94 (Receivables 110.3m/111.9m, Revenue 896.7m/852.5m) |
| GMI: 0.99 (GM 41.37% / 40.76%) |
| AQI: 0.86 (AQ_t 0.39 / AQ_t-1 0.46) |
| SGI: 1.05 (Revenue 896.7m / 852.5m) |
| TATA: -0.06 (NI 130.6m - CFO 184.6m) / TA 970.8m) |
| Beneish M = -3.20 (Cap -4..+1) = AA |
As of May 24, 2026, the stock is trading at USD 125.84 with a total of 509,968 shares traded.
Over the past week, the price has changed by +10.16%,
over one month by +1.85%,
over three months by -19.23% and
over the past year by -47.91%.
Badger Meter has received a consensus analysts rating of 3.67. Therefore, it is recommended to hold BMI.
- StrongBuy: 2
- Buy: 2
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 147 | 16.8% |
P/E Forward = 25.2525
P/S = 3.9134
P/B = 4.9906
P/EG = 2.9502
Revenue TTM = 896.7m USD
EBIT TTM = 169.2m USD
EBITDA TTM = 204.5m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 3.30b USD (3.51b + (null Debt) - CCE 205.5m)
Interest Coverage Ratio = unknown (Ebit TTM 169.2m / Interest Expense TTM 0.0)
EV/FCF = 19.54x (Enterprise Value 3.30b / FCF TTM 169.1m)
FCF Yield = 5.12% (FCF TTM 169.1m / Enterprise Value 3.30b)
FCF Margin = 18.85% (FCF TTM 169.1m / Revenue TTM 896.7m)
Net Margin = 14.56% (Net Income TTM 130.6m / Revenue TTM 896.7m)
Gross Margin = 41.37% ((Revenue TTM 896.7m - Cost of Revenue TTM 525.8m) / Revenue TTM)
Gross Margin QoQ = 41.69% (prev 42.13%)
Tobins Q-Ratio = 3.40 (Enterprise Value 3.30b / Total Assets 970.8m)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 24.77% (9.00m / 36.3m)
NOPAT = 127.3m (EBIT 169.2m * (1 - 24.77%))
Current Ratio = 3.00 (Total Current Assets 508.3m / Total Current Liabilities 169.4m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 204.5m)
Debt / FCF = unknown (Net Debt none / FCF TTM 169.1m)
Total Stockholder Equity = 696.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 13.96% (Net Income 130.6m / Total Assets 970.8m)
RoE = 18.76% (Net Income TTM 130.6m / Total Stockholder Equity 696.0m)
RoCE = 21.11% (EBIT 169.2m / Capital Employed (Total Assets 970.8m - Current Liab 169.4m))
RoIC = 15.94% (NOPAT 127.3m / Invested Capital 798.4m)
WACC = 9.14% (E(3.51b)/V(3.51b) * Re(9.14%) + (debt-free company))
Discount Rate = 9.14% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 24.44 | Cagr: -0.16%
[DCF] Terminal Value 74.05% ; FCFF base≈162.8m ; Y1≈177.2m ; Y5≈220.6m
[DCF] Fair Price = 101.7 (EV 2.97b - Net Debt 0.0 = Equity 2.97b / Shares 29.2m; r=9.14% [WACC]; 5y FCF grow 10.15% → 2.50% )
EPS Correlation: 93.33 | EPS CAGR: 23.43% | SUE: -3.47 | # QB: -1
Revenue Correlation: 97.00 | Revenue CAGR: 14.32% | SUE: -3.56 | # QB: -2
EPS current Quarter (2026-06-30): EPS=1.03 | Chg30d=-17.82% | Revisions=-71% | Analysts=10
EPS next Quarter (2026-09-30): EPS=1.27 | Chg30d=-5.21% | Revisions=-43% | Analysts=10
EPS current Year (2026-12-31): EPS=4.53 | Chg30d=-10.69% | Revisions=-75% | GrowthEPS=-5.4% | GrowthRev=-0.6%
EPS next Year (2027-12-31): EPS=4.95 | Chg30d=-10.71% | Revisions=-75% | GrowthEPS=+9.3% | GrowthRev=+7.7%
[Analyst] Revisions Ratio: -75%