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	Sep '26 Sep 30, 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	881.24	916.66	826.56	703.59	565.57	505.2
Revenue Growth	-2.21%	10.90%	17.48%	24.40%	11.95%	18.72%
Cost of Revenue	514.31	534.59	497.37	427.15	345.6	299.71
Gross Profit	366.94	382.07	329.18	276.44	219.97	205.48
Selling, General & Admin	201.49	198.54	171.3	158.52	132.81	126.88
Operating Expenses	201.49	198.54	171.3	158.52	132.81	126.88
Operating Income	165.45	183.53	157.89	117.92	87.17	78.6
Interest & Investment Income	3.21	5.12	8.61	4.05	0.55	0.02
EBT Excluding Unusual Items	168.66	188.66	166.5	121.97	87.72	78.62
Pretax Income	168.66	188.66	166.5	121.97	87.72	78.62
Income Tax Expense	42.13	47.02	41.56	29.37	21.22	17.74
Net Income	126.53	141.63	124.94	92.6	66.5	60.88
Net Income to Common	126.53	141.63	124.94	92.6	66.5	60.88
Net Income Growth	-8.82%	13.36%	34.93%	39.25%	9.22%	23.39%
Shares Outstanding (Basic)	29	29	29	29	29	29
Shares Outstanding (Diluted)	29	30	30	29	29	29
Shares Change	-1.16%	0.12%	0.27%	0.27%	0.13%	0.37%
EPS (Basic)	4.35	4.82	4.26	3.16	2.28	2.09
EPS (Diluted)	4.33	4.79	4.23	3.14	2.26	2.08
EPS Growth	-7.66%	13.24%	34.71%	38.94%	8.65%	23.08%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Free Cash Flow	142.39	169.67	142.22	98.11	76.56	80.76
Free Cash Flow Per Share	4.87	5.74	4.82	3.33	2.61	2.75
Dividend Per Share	1.640	1.480	1.220	0.990	0.850	0.760
Dividend Growth	15.49%	21.31%	23.23%	16.47%	11.84%	8.57%
Gross Margin	41.64%	41.68%	39.83%	39.29%	38.89%	40.67%
Operating Margin	18.77%	20.02%	19.10%	16.76%	15.41%	15.56%
Profit Margin	14.36%	15.45%	15.12%	13.16%	11.76%	12.05%
Free Cash Flow Margin	16.16%	18.51%	17.21%	13.94%	13.54%	15.99%
EBITDA	199.85	214.62	186.67	142.73	109.61	101.97
EBITDA Margin	22.68%	23.41%	22.58%	20.29%	19.38%	20.18%
D&A For EBITDA	34.4	31.08	28.79	24.81	22.44	23.36
EBIT	165.45	183.53	157.89	117.92	87.17	78.6
EBIT Margin	18.77%	20.02%	19.10%	16.76%	15.41%	15.56%
Effective Tax Rate	24.98%	24.93%	24.96%	24.08%	24.19%	22.56%

SEC Filings: 10-K · 10-Q