Badger Meter Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Revenue	901.14	826.56	703.59	565.57	505.2	425.54	Upgrade
Revenue Growth (YoY)	12.11%	17.48%	24.40%	11.95%	18.72%	0.22%	Upgrade
Cost of Revenue	529.3	497.37	427.15	345.6	299.71	257.3	Upgrade
Gross Profit	371.84	329.18	276.44	219.97	205.48	168.25	Upgrade
Selling, General & Admin	192.18	171.3	158.52	132.81	126.88	103.24	Upgrade
Operating Expenses	192.18	171.3	158.52	132.81	126.88	103.24	Upgrade
Operating Income	179.67	157.89	117.92	87.17	78.6	65.01	Upgrade
Interest Expense	-	-	-	-	-	-0.03	Upgrade
Interest & Investment Income	6.48	8.61	4.05	0.55	0.02	-	Upgrade
EBT Excluding Unusual Items	186.15	166.5	121.97	87.72	78.62	64.98	Upgrade
Pretax Income	186.15	166.5	121.97	87.72	78.62	64.98	Upgrade
Income Tax Expense	47.37	41.56	29.37	21.22	17.74	15.64	Upgrade
Net Income	138.78	124.94	92.6	66.5	60.88	49.34	Upgrade
Net Income to Common	138.78	124.94	92.6	66.5	60.88	49.34	Upgrade
Net Income Growth	16.67%	34.93%	39.25%	9.22%	23.39%	4.59%	Upgrade
Shares Outstanding (Basic)	29	29	29	29	29	29	Upgrade
Shares Outstanding (Diluted)	30	30	29	29	29	29	Upgrade
Shares Change (YoY)	0.20%	0.27%	0.27%	0.13%	0.37%	0.03%	Upgrade
EPS (Basic)	4.72	4.26	3.16	2.28	2.09	1.70	Upgrade
EPS (Diluted)	4.69	4.23	3.14	2.26	2.08	1.69	Upgrade
EPS Growth	16.37%	34.71%	38.94%	8.65%	23.08%	4.97%	Upgrade
Free Cash Flow	166.3	142.22	98.11	76.56	80.76	80.52	Upgrade
Free Cash Flow Per Share	5.62	4.82	3.33	2.61	2.75	2.75	Upgrade
Dividend Per Share	1.420	1.220	0.990	0.850	0.760	0.700	Upgrade
Dividend Growth	23.48%	23.23%	16.47%	11.84%	8.57%	9.38%	Upgrade
Gross Margin	41.26%	39.83%	39.29%	38.89%	40.67%	39.54%	Upgrade
Operating Margin	19.94%	19.10%	16.76%	15.41%	15.56%	15.28%	Upgrade
Profit Margin	15.40%	15.12%	13.16%	11.76%	12.05%	11.59%	Upgrade
Free Cash Flow Margin	18.45%	17.21%	13.94%	13.54%	15.99%	18.92%	Upgrade
EBITDA	213.52	190.07	146.03	113.41	106.47	90.23	Upgrade
EBITDA Margin	23.69%	23.00%	20.76%	20.05%	21.07%	21.20%	Upgrade
D&A For EBITDA	33.85	32.19	28.11	26.24	27.86	25.22	Upgrade
EBIT	179.67	157.89	117.92	87.17	78.6	65.01	Upgrade
EBIT Margin	19.94%	19.10%	16.76%	15.41%	15.56%	15.28%	Upgrade
Effective Tax Rate	25.45%	24.96%	24.08%	24.19%	22.56%	24.07%	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.