BADGER METER INC

Listed Company

BMICIK 0000009092NYSELarge AcceleratedTotalizing Fluid Meters & Counting DevicesWisconsinFY ends Dec 31

Period

FY 2025

Revenue

$916.66M

Net Income

$141.63M

Total Assets

$973.58M

Equity

$713.29M

Shares Out

29.19M

Op. Cash Flow

$183.70M

BMI$149.25−39.30% · past yearDBEQ Basic

Daily closing prices

Business

Badger Meter is a manufacturer of flow measurement, quality, control and system solutions for water management applications worldwide. The company offers meters, sensors, monitoring equipment, communication endpoints under the ORION brand, and software-as-a-service platforms including BEACON, marketed collectively as the BlueEdge suite. Operations are organized into Utility Water, serving municipal water utilities with smart metering and related infrastructure as the dominant business line, and Flow Instrumentation, serving industrial and commercial customers across water, HVAC and sustainability applications. Products are sold globally through direct sales forces, representatives and distributors.

Summary from 10-K filed 2026-02-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	917	827	704	566	505
Cost of sales	535	497	427	346	300
Gross margin	382	329	276	220	205
Selling, engineering and administration	199	171	158	133	127
Operating earnings	183	158	118	87	79
Interest income, net	−5	−9	−4	−552,000	−20,000
Other pension and postretirement (income) costs	−112,000	49,000	130,000	130,000	120,000
Earnings before income taxes	189	167	122	88	79
Provision for income taxes	47	42	29	21	18
Net earnings	142	125	93	66	61
Basic (per share)	4.82	4.26	3.16	2.28	2.09
Diluted (per share)	4.79	4.23	3.14	2.26	2.08
Basic (shares)	29	29	29	29,218	29,144
Impact of dilutive securities	171,000	178,000	172,000	158	194
Diluted (shares)	30	30	29	29,376	29,338

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	226	295	192	138	87
Receivables, net of allowance for doubtful accounts	112	84	84	77	66
Finished goods	23	24	35	31	26
Work in process	29	37	41	24	25
Raw materials	100	83	78	65	49
Total inventories	152	143	154	120	100
Prepaid expenses and other current assets	17	17	13	13	9
Total current assets	507	540	442	348	261
Land and improvements	10	9	9	9	9
Building and improvements	75	72	72	71	71
Machinery and equipment	164	152	145	141	137
Property, plant and equipment, at cost	248	233	226	221	217
Less accumulated depreciation	−169	−159	−152	−147	−139
Net property, plant and equipment	80	74	74	74	78
Intangible assets, at cost less accumulated amortization	118	45	54	54	64
Other assets	19	13	11	14	15
Deferred income taxes	14	33	23	13	8
Goodwill	236	112	113	101	104
Total assets	974	816	717	603	531
Payables	72	56	82	71	42
Accrued compensation and employee benefits	38	35	30	21	21
Warranty and after-sale costs, current	8	7	11	10	13
Other current liabilities	32	20	9	9	7
Total current liabilities	151	118	132	110	82
Long-term deferred revenue	73	64	50	32	—
Deferred income taxes	3	4	5	5	5
Accrued non-pension postretirement benefits	2	3	4	4	5
Other accrued employee benefits	7	7	5	4	—
Warranty and after-sale costs, long-term	13	9	—	—	—
Other long-term liabilities	11	5	5	6	30
Commitments and contingencies (Note 6)	—	—	—	—	—
Total long-term liabilities	110	92	68	—	—
Common stock, $1 par, authorized 80,000,000 shares, issued 37,221,098 shares in 2025 and 2024	37	37	37	37	37
Capital in excess of par value	75	66	59	53	49
Reinvested earnings	646	548	459	395	354
Accumulated other comprehensive loss	6	−8	−2	−6	136,000
Less: Treasury stock, at cost, 7,834,360 shares in 2025 and 7,810,158 shares in 2024	−52	−37	−37	−37	−37
Total shareholders equity	713	606	516	442	403
Total liabilities and shareholders equity	974	816	717	603	531

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	11	11	11	11	11
Amortization	23	21	17	15	17
Deferred income taxes	−854,000	−11	−10	−6	−3
Noncurrent employee benefits	136,000	−153,000	−338,000	−648,000	−234,000
Stock-based compensation expense	9	6	5	3	2
Receivables	−20	−1	−6	−11	−1
Inventories	−987,000	10	−32	−21	−14
Payables	14	−12	9	28	7
Prepaid expenses and other assets	−4	−15	−7	−11	−8
Other liabilities	10	22	32	8	16
Total adjustments	42	30	18	16	27
Net cash provided by operations	184	155	110	82	88
Property, plant and equipment expenditures	−14	−13	−12	−6	−7
Acquisitions, net of cash acquired	−184	−3	−17	0	−45
Net cash used for investing activities	−198	−16	−29	−6	−51
Dividends paid	−44	−36	−29	−25	−22
Proceeds from exercise of stock options	554,000	751,000	967,000	703,000	2
Repurchase of common stock for treasury stock	−15	0	0	−427,000	−460,000
Net cash used for financing activities	−58	−35	−28	−25	−21
Effect of foreign exchange rates on cash	3	−597,000	828,000	−1	−679,000
(Decrease) increase in cash and cash equivalents	−69	104	54	51	15
Income taxes	49	56	39	24	20
Interest	0	0	0	0	118,000
Property, plant and equipment acquired through operating lease	6	2	830,000	2	—
Property, plant and equipment accrued and unpaid	0	364,000	450,000	2	—

Filings

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Frequently asked questions

What is BADGER METER INC's CIK number?

BADGER METER INC's SEC CIK number is 0000009092 (9092). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find BADGER METER INC's SEC filings?

All of BADGER METER INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did BADGER METER INC last report earnings?

BADGER METER INC (BMI) most recently filed an earnings 8-K with the SEC on Apr 17, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-160389). This is BADGER METER INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is BADGER METER INC's most recent earnings 8-K?

BADGER METER INC's latest earnings 8-K (Item 2.02) was filed Apr 17, 2026 under accession 0001193125-26-160389. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View BADGER METER INC's latest earnings 8-K →
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