Badger Meter, Inc. (BMI) AI Stock Analysis

Badger Meter, Inc. is a manufacturer and provider of flow measurement, quality control, and communication solutions operating in the United States, Asia, Canada, Europe, Mexico, the Middle East, and other regions. Headquartered in Milwaukee, Wisconsin, the company specializes in mechanical and static water meters alongside advanced radio and software technologies for municipal water utilities. Badger Meter also produces flow instrumentation products including meters, valves, and sensing instruments used to measure fluids such as water, air, steam, oil, and gases across industries like HVAC, wastewater management, and sustainability initiatives. Offerings include ORION metering technologies and the BEACON software analytics suite.

Between FY2021 and FY2025, Badger Meter expanded revenue from $505.2M to $916.7M, achieving a 5-year revenue CAGR of 16.6%. Annual revenue growth reached 18.7% in FY2021, 11.9% in FY2022, 24.4% in FY2023, 17.5% in FY2024, and 10.9% in FY2025. Gross margin increased from 40.7% in FY2021 to 41.7% in FY2025, while operating margin expanded from 15.6% to 20.0%. Net income climbed from $60.9M to $141.6M over the same timeframe, lifting diluted earnings per share from $2.08 to $4.80. For the trailing twelve months ended June 30, 2026, revenue stood at $881.0M. However, in the quarter ended June 30, 2026, quarterly revenue fell 6.6% and quarterly earnings declined 12.8% year-over-year.

As of June 30, 2026, Badger Meter held $95.7M in cash and short-term investments, with total assets of $998.2M and shareholders' equity of $683.1M. The company maintains a current ratio of 2.42. During FY2025, operating cash flow reached $183.7M and free cash flow totaled $169.7M. Capital expenditures for FY2025 were $14.0M. The company returned capital to shareholders via $15.0M in share buybacks and $43.5M in dividends paid, while the 5-year share count change was -0.8%.

Badger Meter carries a market capitalization of $3.67B and an enterprise value of $3.76B. The stock trades at a trailing P/E of 29.6x and a forward P/E of 26.2x, compared to the median of its US-listed Technology peers at 28.1x trailing and 18.8x forward. Its price-to-sales multiple is 4.2x against the peer median of 2.8x, and its EV/EBITDA is 18.7x compared to the peer median of 16.6x. Over the past year, the stock dropped 28.1%, trailing the S&P 500 return of 16.8%. Over five years, the stock gained 27.1% compared to 83.0% for the S&P 500.

Badger Meter pays a quarterly dividend with a forward annualized payout of $1.76 per share, representing a dividend yield of 1.39%. The payout ratio stands at 38.3%, supported by 43 consecutive years of dividend payments. Over the past five years, the dividend has increased at an annualized growth rate of 16.2%. The last ex-dividend date was August 28, 2026.

Wall Street coverage includes 5 Strong Buy, 3 Buy, 2 Hold, and 1 Sell ratings. The mean price target is $156.56, indicating an upside of 23.8% from the last close of $126.48. For the current fiscal year ending December 31, 2026, analysts expect revenue of $911.6M and EPS of $4.48, implying a 6.4% decline in earnings. For the next fiscal year, 10 analysts estimate revenue of $983.2M and EPS of $4.96. The company beat EPS estimates in 2 of the last 4 quarters, and the next earnings date is October 22, 2026.

This page is an AI-written research summary of Badger Meter, Inc. (BMI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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