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BMI · NYSE

Badger Meter, Inc.

Scientific & Technical Instruments · United States

USD 132.764.0% daily changeQuote 2026-09-18 · USD
Market cap (USD)
US$3.85B
Trailing P/E
31.09x
Forward P/E
26.72x
Quarterly revenue growth
-6.6%
Trailing net margin
14.3%
Indicated dividend yield
1.3%

Snapshot 2026-09-20 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2026-10-21 (provider estimate, not issuer-confirmed).

Company background

Badger Meter, Inc. manufactures and markets flow measurement, quality, control, and communication solutions worldwide. The company offers Utility water smart metering solutions and software technologies and services to municipal water utility market. It also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives. In addition, the company offers ORION Cellular endpoints to power network as a service; ORION mobile read endpoints support for deploying AMR solution; radio products; hardware, instruments, and sensors, and related software, to enhance connected data to a water utility's operation; water quality monitoring solutions, including optical sensing and electrochemical instruments; and high frequency pressure and leak detection sensors to aid in burst pipe and leak events; as well as BEACON, a secure cloud-hosted software suite that establishes alerts for specific conditions and allows consumer engagement tools that permit end water user to view and manage their water usage activity. Its flow instrumentation products are used in water/wastewater, heating, ventilating and air conditioning, and corporate sustainability markets. The company serves water utilities, commercial, and industrial industries; and provides training, project management, technical support, and other collaborative services for customers. It sells its products and software to employees, resellers, and representatives. The company was incorporated in 1905 and is based in Milwaukee, Wisconsin.

Company website

Q2 2026

Go beyond the headline.

Badger Meter Stock (BMI): The Smart-Water Darling Fell 40% — Cheap After Q2 Earnings?

Published 2026-07-23

Comparable businesses

BMI peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricBMIBadger Meter, Inc.Snapshot 2026-09-20Financial period: 2026-06-30CGNXCognex CorporationSnapshot 2026-09-20Financial period: 2026-07-05TRMBTrimble Inc.Snapshot 2026-09-20Financial period: 2026-07-03
Market capMarket value, converted to USDUS$3.85BUS$10.36BUS$13.42B
Forward P/EProvider forward earnings estimate26.72x30.41x13.96x
EV / EBITDAEnterprise value / trailing EBITDA19.20x37.49x16.66x
Revenue growthLatest quarter vs prior-year quarter-6.6%16.9%11.0%
Operating marginLatest reported quarter17.7%29.4%15.1%
Free cash flow yieldTrailing cash flow / market cap3.3%1.9%5.1%
Net debt / EBITDANet debt / trailing EBITDA-0.37x-1.24x1.41x
Debt / equityTotal debt / positive book equity0.03x0.04x0.29x
Trailing P/ETrailing twelve-month earnings31.09x59.19x
Price / bookPrice / positive book equity per share5.64x6.35x2.37x
EV / salesEnterprise value / trailing revenue4.29x9.21x3.88x
Earnings growthLatest quarter vs prior-year quarter-12.8%79.2%
Gross marginTrailing twelve months41.3%68.9%71.8%
Net marginTrailing twelve months14.3%16.1%-2.8%
Return on equityProvider trailing return; positive equity only18.5%11.1%-1.9%
Free cash flow marginTrailing free cash flow / revenue14.6%18.0%18.1%
Dividend yieldIndicated annual dividend / price1.3%0.6%
Earnings payoutProvider trailing dividend payout37.5%32.2%0.0%
Current ratioCurrent assets / current liabilities2.42x3.93x0.95x
BetaProvider historical market sensitivity0.641.491.36

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

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Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-09-20. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for BMI

All available reporting periods
Q2 20262026-07-23

Reported figures

Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.