BMI Stock - Badger Meter, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $826.56M | $703.59M | $565.57M | $505.20M | $425.54M |
| Gross Profit | $329.18M | $276.44M | $219.97M | $205.48M | $168.25M |
| Gross Margin | 39.8% | 39.3% | 38.9% | 40.7% | 39.5% |
| Operating Income | $157.94M | $118.05M | $87.30M | $78.72M | $65.16M |
| Net Income | $124.94M | $92.60M | $66.50M | $60.88M | $49.34M |
| Net Margin | 15.1% | 13.2% | 11.8% | 12.1% | 11.6% |
| EPS | $4.26 | $3.16 | $2.28 | $2.09 | $1.70 |
Badger Meter, Inc. manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives. Its flow instrumentation products are used in water/wastewater, heating, ventilating and air conditioning, and corporate sustainability markets. In addition, the company offers ORION Migratable for automatic meter reading; ORION (SE) for traditional fixed network applications; and ORION Cellular for infrastructure-free fixed network meter reading solution, as well as BEACON advanced metering analytics, a secure cloud-hosted software suite that establishes alerts for specific conditions and allows consumer engagement tools that permit end water customers to view and manage their water usage activity. It also serves water utilities, industrial, and other industries. The company sells its products directly, as well as through resellers and representatives. Badger Meter, Inc. was incorporated in 1905 and is headquartered in Milwaukee, Wisconsin.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 12th 2025 | Jefferies | Initiation | Buy | $220 |
| October 22nd 2025 | Stifel | Upgrade | Buy | $215 |
| September 9th 2025 | JP Morgan | Initiation | Overweight | $230 |
| June 3rd 2025 | Raymond James | Initiation | Market Perform | - |
| March 27th 2025 | RBC Capital Mkts | Initiation | Outperform | $251 |
| October 18th 2024 | Maxim Group | Reiterated | Buy | $235← $216 |
| September 11th 2024 | Seaport Research Partners | Initiation | Buy | $235 |
| April 19th 2024 | Maxim Group | Reiterated | Buy | $207← $190 |
| April 18th 2024 | Northcoast | Upgrade | Neutral | - |
| September 29th 2023 | Northcoast | Downgrade | Sell | $120 |
| June 29th 2023 | Deutsche Bank | Initiation | Hold | $142 |
| July 15th 2022 | Northcoast | Initiation | Neutral | - |
Earnings History & Surprises
BMIEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 15, 2026 | — | — | — | — |
Q1 2026 | Jan 30, 2026 | $1.14 | — | — | — |
Q4 2025 | Oct 21, 2025 | $1.11 | $1.19 | +7.2% | ✓ BEAT |
Q3 2025 | Jul 22, 2025 | $1.19 | $1.12 | -5.9% | ✗ MISS |
Q2 2025 | Apr 17, 2025 | $1.07 | $1.30 | +21.5% | ✓ BEAT |
Q1 2025 | Jan 31, 2025 | $1.01 | $1.04 | +3.0% | ✓ BEAT |
Q4 2024 | Oct 17, 2024 | $1.11 | $1.08 | -2.7% | ✗ MISS |
Q3 2024 | Jul 19, 2024 | $1.03 | $1.12 | +8.7% | ✓ BEAT |
Q2 2024 | Apr 18, 2024 | $0.82 | $0.99 | +20.7% | ✓ BEAT |
Q1 2024 | Jan 26, 2024 | $0.82 | $0.84 | +2.4% | ✓ BEAT |
Q4 2023 | Oct 19, 2023 | $0.81 | $0.88 | +8.6% | ✓ BEAT |
Q3 2023 | Jul 20, 2023 | $0.65 | $0.76 | +16.9% | ✓ BEAT |
Q2 2023 | Apr 20, 2023 | $0.55 | $0.66 | +20.0% | ✓ BEAT |
Q1 2023 | Jan 27, 2023 | $0.61 | $0.60 | -1.6% | ✗ MISS |
Q4 2022 | Oct 19, 2022 | $0.57 | $0.61 | +7.0% | ✓ BEAT |
Q3 2022 | Jul 20, 2022 | $0.52 | $0.57 | +9.6% | ✓ BEAT |
Q2 2022 | Apr 19, 2022 | $0.51 | $0.49 | -3.9% | ✗ MISS |
Q1 2022 | Jan 28, 2022 | $0.47 | $0.59 | +25.5% | ✓ BEAT |
Q4 2021 | Oct 15, 2021 | $0.50 | $0.54 | +8.0% | ✓ BEAT |
Q3 2021 | Jul 20, 2021 | $0.46 | $0.48 | +4.3% | ✓ BEAT |
Latest News
Badger Meter Promotes Daniel Weltzien To VP – CFO And Treasurer, Effective January 1, 2026
➖ NeutralJP Morgan Maintains Overweight on Badger Meter, Lowers Price Target to $235
➖ NeutralBadger Meter Announces New $75M Buyback Plan
📈 PositiveRBC Capital Maintains Outperform on Badger Meter, Lowers Price Target to $229
📈 PositiveStifel Upgrades Badger Meter to Buy, Raises Price Target to $215
📈 PositiveBadger Meter Q3 EPS $1.19 Beats $1.09 Estimate, Sales $235.700M Beat $231.888M Estimate
📈 PositiveBaird Maintains Neutral on Badger Meter, Lowers Price Target to $205
➖ NeutralStifel Maintains Hold on Badger Meter, Lowers Price Target to $208
➖ NeutralJP Morgan Initiates Coverage On Badger Meter with Overweight Rating, Announces Price Target of $230
📈 PositiveFrequently Asked Questions about BMI
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