Badger Meter, Inc. (BMI)

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 Adjustments	-0.72	-11.23	-9.99	-6.27	-3.29
Change in Receivables	-20.12	-1.44	-6.35	-11.33	-1.24
Changes in Inventories	-0.99	10.32	-32.47	-21.02	-13.63
Changes in Accounts Payable	14.4	-12.16	8.51	28.01	7.01
Changes in Other Operating Activities	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
Payments for Business 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
Net Common Stock Issued (Repurchased)	-14.45	0.75	0.97	0.28	1.65
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
Effect of Exchange Rate Changes on Cash and Cash Equivalents	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%
FCF 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
Levered Free Cash Flow	181.32	148.71	109.27	91.01	82.96
Unlevered Free Cash Flow	177.38	142.28	106.29	90.69	83.04

Updated Jan 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q