BADGER METER INC
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $916.7M | $826.6M | $703.6M | $565.6M | $505.2M |
| Cost of revenue | $534.6M | $497.4M | $427.2M | $345.6M | $299.7M |
| Gross profit | $382.1M | $329.2M | $276.4M | $220.0M | $205.5M |
| Selling, general & administrative | $198.6M | $171.2M | $158.4M | $132.7M | $126.8M |
| Research and development | $21.6M | $19.2M | $19.0M | $15.8M | $14.7M |
| Operating income | $183.4M | $157.9M | $118.0M | $87.3M | $78.7M |
| Pretax income | $188.7M | $166.5M | $122.0M | $87.7M | $78.6M |
| Income tax expense | $47.0M | $41.6M | $29.4M | $21.2M | $17.7M |
| Net income | $141.6M | $124.9M | $92.6M | $66.5M | $60.9M |
| Balance Sheet | |||||
| Cash and equivalents | — | — | — | — | $87.2M |
| Current assets | $507.1M | $540.1M | $442.2M | $347.8M | $261.4M |
| Total assets | $973.6M | $816.4M | $716.9M | $603.0M | $530.8M |
| Current liabilities | $150.7M | $118.2M | $131.9M | $110.3M | $82.1M |
| Stockholders' equity | $713.3M | $606.2M | $516.5M | $442.4M | $403.1M |
| Cash Flow Statement | |||||
| Cash from operations | $183.7M | $155.0M | $110.1M | $82.5M | $87.5M |
| Depreciation and amortization | $11.1M | $11.1M | $10.9M | $11.1M | $11.3M |
| Stock-based compensation | $9.2M | $6.2M | $5.2M | $3.1M | $2.3M |
| Capital expenditure | $14.0M | $12.8M | $12.0M | $5.9M | $6.7M |
| Free cash flow | $169.7M | $142.2M | $98.1M | $76.6M | $80.8M |
| Dividends paid | $43.5M | $35.8M | $29.1M | $24.9M | $22.2M |
| Share repurchases | $15.0M | $0 | $0 | $427,000 | $460,000 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 29.2M · Free float 99.0%
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.