Badger Meter, Inc. (FRA:33B)

Badger Meter Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	141.63	124.94	92.6	66.5	60.88
Depreciation & Amortization	34.58	32.19	28.11	26.24	27.86
Stock-Based Compensation	9.19	6.18	5.19	3.15	2.33
Other Operating Activities	-0.72	-11.23	-9.99	-6.27	-3.29
Change in Accounts Receivable	-20.12	-1.44	-6.35	-11.33	-1.24
Change in Inventory	-0.99	10.32	-32.47	-21.02	-13.63
Change in Accounts Payable	14.4	-12.16	8.51	28.01	7.01
Change in Other Net Operating Assets	5.71	6.24	24.52	-2.83	7.59
Operating Cash Flow	183.7	155.03	110.12	82.45	87.51
Operating Cash Flow Growth	18.49%	40.79%	33.55%	-5.78%	-2.31%
Capital Expenditures	-14.03	-12.82	-12	-5.89	-6.75
Cash Acquisitions	-184.02	-3	-17.13	-	-45.27
Other Investing Activities	-	-	-	-	0.6
Investing Cash Flow	-198.05	-15.82	-29.13	-5.89	-51.42
Issuance of Common Stock	0.55	0.75	0.97	0.7	2.11
Repurchase of Common Stock	-15	-	-	-0.43	-0.46
Common Dividends Paid	-43.53	-35.85	-29.05	-24.88	-22.16
Financing Cash Flow	-57.98	-35.1	-28.09	-24.61	-20.51
Foreign Exchange Rate Adjustments	3.04	-0.6	0.83	-1.08	-0.68
Net Cash Flow	-69.29	103.52	53.73	50.88	14.9
Free Cash Flow	169.67	142.22	98.11	76.56	80.76
Free Cash Flow Growth	19.31%	44.95%	28.15%	-5.21%	0.30%
Free Cash Flow Margin	18.51%	17.21%	13.94%	13.54%	15.99%
Free Cash Flow Per Share	5.74	4.82	3.33	2.61	2.75
Cash Interest Paid	-	-	-	-	0.12
Cash Income Tax Paid	-	56.04	38.93	24.04	19.98
Levered Free Cash Flow	143.39	114.39	76.24	69.78	64.28
Unlevered Free Cash Flow	143.39	114.39	76.24	69.78	64.28
Change in Working Capital	-0.99	2.95	-5.79	-7.17	-0.28

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