Badger Meter, Inc. (BMI)

Badger Meter Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	873.93	826.56	703.59	565.57	505.2	425.54
Revenue Growth (YoY)	11.82%	17.48%	24.40%	11.95%	18.72%	0.22%
Cost of Revenue	514.04	497.37	427.15	345.6	299.71	257.3
Gross Profit	359.89	329.18	276.44	219.97	205.48	168.25
Selling, General & Admin	185.72	171.3	158.52	132.81	126.88	103.24
Operating Expenses	185.72	171.3	158.52	132.81	126.88	103.24
Operating Income	174.17	157.89	117.92	87.17	78.6	65.01
Interest Expense	-	-	-	-	-	-0.03
Interest & Investment Income	7.45	8.61	4.05	0.55	0.02	-
EBT Excluding Unusual Items	181.62	166.5	121.97	87.72	78.62	64.98
Pretax Income	181.62	166.5	121.97	87.72	78.62	64.98
Income Tax Expense	45.88	41.56	29.37	21.22	17.74	15.64
Net Income	135.74	124.94	92.6	66.5	60.88	49.34
Net Income to Common	135.74	124.94	92.6	66.5	60.88	49.34
Net Income Growth	20.25%	34.93%	39.25%	9.22%	23.39%	4.59%
Shares Outstanding (Basic)	29	29	29	29	29	29
Shares Outstanding (Diluted)	30	30	29	29	29	29
Shares Change (YoY)	0.24%	0.27%	0.27%	0.13%	0.37%	0.03%
EPS (Basic)	4.62	4.26	3.16	2.28	2.09	1.70
EPS (Diluted)	4.59	4.23	3.14	2.26	2.08	1.69
EPS Growth	19.85%	34.71%	38.94%	8.65%	23.08%	4.97%
Free Cash Flow	160.06	142.22	98.11	76.56	80.76	80.52
Free Cash Flow Per Share	5.41	4.82	3.33	2.61	2.75	2.75
Dividend Per Share	1.360	1.220	0.990	0.850	0.760	0.700
Dividend Growth	25.93%	23.23%	16.47%	11.84%	8.57%	9.38%
Gross Margin	41.18%	39.83%	39.29%	38.89%	40.67%	39.54%
Operating Margin	19.93%	19.10%	16.76%	15.41%	15.56%	15.28%
Profit Margin	15.53%	15.12%	13.16%	11.76%	12.05%	11.59%
Free Cash Flow Margin	18.32%	17.21%	13.94%	13.54%	15.99%	18.92%
EBITDA	207.33	190.07	146.03	113.41	106.47	90.23
EBITDA Margin	23.72%	23.00%	20.76%	20.05%	21.07%	21.20%
D&A For EBITDA	33.16	32.19	28.11	26.24	27.86	25.22
EBIT	174.17	157.89	117.92	87.17	78.6	65.01
EBIT Margin	19.93%	19.10%	16.76%	15.41%	15.56%	15.28%
Effective Tax Rate	25.26%	24.96%	24.08%	24.19%	22.56%	24.07%

Updated Jul 22, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q