Badger Meter Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Revenue	896.73	916.66	826.56	703.59	565.57	505.2
Revenue Growth (YoY)	5.19%	10.90%	17.48%	24.40%	11.95%	18.72%
Cost of Revenue	525.77	534.59	497.37	427.15	345.6	299.71
Gross Profit	370.96	382.07	329.18	276.44	219.97	205.48
Selling, General & Admin	201.79	198.65	171.25	158.39	132.68	126.76
Total Operating Expenses	201.79	198.65	171.25	158.39	132.68	126.76
Operating Income	169.17	183.42	157.94	118.05	87.3	78.72
Interest Income	4.93	5.12	8.61	4.05	0.55	0.02
Other Non-Operating Income (Expense)	0.11	0.11	-0.05	-0.13	-0.13	-0.12
Total Non-Operating Income (Expense)	5.04	5.24	8.56	3.92	0.42	-0.1
Pretax Income	174.21	188.66	166.5	121.97	87.72	78.62
Provision for Income Taxes	43.64	47.02	41.56	29.37	21.22	17.74
Net Income	130.57	141.63	124.94	92.6	66.5	60.88
Net Income to Common	130.57	141.63	124.94	92.6	66.5	60.88
Net Income Growth	-2.71%	13.36%	34.93%	39.25%	9.22%	23.39%
Shares Outstanding (Basic)	29	29	29	29	29	29
Shares Outstanding (Diluted)	30	30	30	29	29	29
Shares Change (YoY)	-0.11%	0.12%	0.27%	0.27%	0.13%	0.37%
EPS (Basic)	4.46	4.82	4.26	3.16	2.28	2.09
EPS (Diluted)	4.43	4.79	4.23	3.14	2.26	2.08
EPS Growth	-2.42%	13.24%	34.71%	38.94%	8.65%	23.08%
Shares Outstanding	29.19	29.39	29.41	29.35	29.29	29.25
Free Cash Flow	169.08	169.67	142.22	98.11	76.56	80.76
Free Cash Flow Growth	-0.35%	19.31%	44.95%	28.15%	-5.21%	0.30%
Free Cash Flow Per Share	5.73	5.74	4.82	3.33	2.61	2.75
Dividends Per Share	1.540	1.480	1.220	0.990	0.850	0.760
Dividend Growth	4.05%	21.31%	23.23%	16.47%	11.84%	8.57%
Gross Margin	41.37%	41.68%	39.83%	39.29%	38.89%	40.67%
Operating Margin	18.86%	20.01%	19.11%	16.78%	15.43%	15.58%
Profit Margin	14.56%	15.45%	15.12%	13.16%	11.76%	12.05%
FCF Margin	18.85%	18.51%	17.21%	13.94%	13.54%	15.99%
EBITDA	204.52	218.01	190.12	146.16	113.54	106.59
EBITDA Margin	22.81%	23.78%	23.00%	20.77%	20.07%	21.10%
EBIT	169.17	183.42	157.94	118.05	87.3	78.72
EBIT Margin	18.86%	20.01%	19.11%	16.78%	15.43%	15.58%
Effective Tax Rate	25.05%	24.93%	24.96%	24.08%	24.19%	22.56%

Updated Apr 17, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q