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	Jun '26 Jun 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	880.96	916.66	826.56	703.59	565.57	505.2
Revenue Growth	0.80%	10.90%	17.48%	24.40%	11.95%	18.72%
Cost of Revenue	517.03	534.59	497.37	427.15	345.6	299.71
Gross Profit	363.92	382.07	329.18	276.44	219.97	205.48
Selling, General & Admin	200.13	198.54	171.3	158.52	132.81	126.88
Operating Expenses	200.13	198.54	171.3	158.52	132.81	126.88
Operating Income	163.79	183.53	157.89	117.92	87.17	78.6
Interest & Investment Income	4.35	5.12	8.61	4.05	0.55	0.02
EBT Excluding Unusual Items	168.15	188.66	166.5	121.97	87.72	78.62
Pretax Income	168.15	188.66	166.5	121.97	87.72	78.62
Income Tax Expense	42.44	47.02	41.56	29.37	21.22	17.74
Net Income	125.71	141.63	124.94	92.6	66.5	60.88
Net Income to Common	125.71	141.63	124.94	92.6	66.5	60.88
Net Income Growth	-7.39%	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	-0.53%	0.12%	0.27%	0.27%	0.13%	0.37%
EPS (Basic)	4.30	4.82	4.26	3.16	2.28	2.09
EPS (Diluted)	4.27	4.79	4.23	3.14	2.26	2.08
EPS Growth	-6.93%	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	Jun '26 Jun 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	150.3	169.67	142.22	98.11	76.56	80.76
Free Cash Flow Per Share	5.11	5.74	4.82	3.33	2.61	2.75
Dividend Per Share	1.600	1.480	1.220	0.990	0.850	0.760
Dividend Growth	17.65%	21.31%	23.23%	16.47%	11.84%	8.57%
Gross Margin	41.31%	41.68%	39.83%	39.29%	38.89%	40.67%
Operating Margin	18.59%	20.02%	19.10%	16.76%	15.41%	15.56%
Profit Margin	14.27%	15.45%	15.12%	13.16%	11.76%	12.05%
Free Cash Flow Margin	17.06%	18.51%	17.21%	13.94%	13.54%	15.99%
EBITDA	196.71	214.62	186.67	142.73	109.61	101.97
EBITDA Margin	22.33%	23.41%	22.58%	20.29%	19.38%	20.18%
D&A For EBITDA	32.92	31.08	28.79	24.81	22.44	23.36
EBIT	163.79	183.53	157.89	117.92	87.17	78.6
EBIT Margin	18.59%	20.02%	19.10%	16.76%	15.41%	15.56%
Effective Tax Rate	25.24%	24.93%	24.96%	24.08%	24.19%	22.56%

SEC Filings: 10-K · 10-Q