Badger Meter Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	226.02	295.31	191.78	138.05	87.17
Cash & Short-Term Investments	226.02	295.31	191.78	138.05	87.17
Cash Growth	-23.46%	53.98%	38.92%	58.36%	20.62%
Receivables	112.36	84.33	83.51	76.65	65.87
Inventory	151.94	143.41	153.67	119.86	99.61
Prepaid Expenses	16.77	17.08	13.21	13.27	8.71
Total Current Assets	507.08	540.12	442.18	347.83	261.36
Property, Plant & Equipment	92.17	80.12	79.4	80.08	83.93
Goodwill	235.58	111.77	113.16	101.26	104.31
Other Intangible Assets	122.2	48.87	57.44	58.41	69.78
Long-Term Deferred Tax Assets	14.14	32.53	22.72	12.76	7.53
Other Long-Term Assets	2.42	3.02	2.03	2.72	3.91
Total Assets	973.58	816.41	716.92	603.05	530.82
Accrued Expenses	37.62	34.91	29.87	20.51	20.64
Current Portion of Leases	3.52	-	1	1.22	-
Current Unearned Revenue	24.28	14.12	10.21	-	-
Other Current Liabilities	85.3	69.17	90.87	88.58	61.5
Total Current Liabilities	150.72	118.21	131.95	110.31	82.15
Long-Term Leases	9.17	6.01	4.76	5.57	6.18
Long-Term Unearned Revenue	72.77	64.15	49.76	32.24	-
Pension & Post-Retirement Benefits	9.16	9.96	8.91	7.86	10.41
Long-Term Deferred Tax Liabilities	3.48	3.65	5.06	4.65	5.39
Other Long-Term Liabilities	14.99	8.2	-	-	23.63
Total Liabilities	260.28	210.18	200.44	160.63	127.75
Common Stock	37.22	37.22	37.22	37.22	37.22
Additional Paid-In Capital	75.29	65.82	59.19	53.28	49.22
Retained Earnings	645.88	547.8	458.72	395.16	353.54
Treasury Stock	-51.57	-36.7	-37	-37.25	-37.05
Comprehensive Income & Other	6.47	-7.91	-1.65	-5.98	0.14
Shareholders' Equity	713.29	606.23	516.48	442.42	403.07
Total Liabilities & Equity	973.58	816.41	716.92	603.05	530.82
Total Debt	12.69	6.01	5.76	6.79	6.18
Net Cash (Debt)	213.33	289.29	186.02	131.26	81
Net Cash Growth	-26.26%	55.51%	41.72%	62.06%	24.50%
Net Cash Per Share	7.21	9.80	6.32	4.47	2.76
Filing Date Shares Outstanding	29.18	29.41	29.35	29.29	29.25
Total Common Shares Outstanding	29.39	29.41	29.35	29.29	29.25
Working Capital	356.36	421.91	310.23	237.52	179.21
Book Value Per Share	24.27	20.61	17.60	15.10	13.78
Tangible Book Value	355.52	445.6	345.88	282.75	228.98
Tangible Book Value Per Share	12.10	15.15	11.79	9.65	7.83
Land	9.54	9.24	9.26	8.95	9.18
Buildings	74.96	71.53	72.15	70.85	71.1
Machinery	163.95	152.44	144.58	141.15	136.51

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