Badger Meter Financial Statements
NYSE: BMIIndustrialsIndustrial Machinery/ComponentsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Badger Meter revenue and earnings
In fiscal 2025, Badger Meter generated $916.7 million in revenue, up 10.9% from fiscal 2024, its 6th consecutive year of revenue growth. Net income was $141.6 million (+13.4% year over year), for a net margin of 15.5% versus a median of 12.1% in the prior 5 years. Gross margin was 41.7% (up from 39.8%) and operating margin 20.0%.
Diluted earnings per share came in at $4.79, up from $4.23. Over the last 5 fiscal years, BMI's revenue has grown at a 16.6% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Badger Meter income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 916.66M | 826.56M | 703.59M | 565.57M | 505.20M | 425.54M | 424.63M | 433.73M | 402.44M | 393.76M |
| Revenue growth (YoY) | +10.90% | +17.48% | +24.40% | +11.95% | +18.72% | +0.22% | -2.10% | +7.78% | +2.20% | +4.25% |
| Cost of Revenue | 534.59M | 497.37M | 427.15M | 345.60M | 299.71M | 257.30M | 261.10M | 271.38M | 246.69M | 243.19M |
| Gross Profit | 382.07M | 329.18M | 276.44M | 219.97M | 205.48M | 168.25M | 163.53M | 162.35M | 155.75M | 150.58M |
| Operating Expenses | 198.65M | 171.25M | 158.39M | 132.68M | 126.76M | 103.09M | 101.38M | 105.48M | 99.15M | 97.90M |
| Research & Development | 21.60M | 19.20M | 19.00M | 15.80M | 14.70M | 11.60M | 11.90M | 11.10M | 10.60M | 10.60M |
| Selling, General & Admin | 198.65M | 171.25M | 158.39M | 132.68M | 126.76M | 103.09M | 101.38M | 105.48M | 99.15M | 97.90M |
| Operating Income | 183.42M | 157.94M | 118.05M | 87.30M | 78.72M | 65.16M | 62.15M | 56.87M | 56.59M | 52.67M |
| Pretax Income | 188.66M | 166.50M | 121.97M | 87.72M | 78.62M | 64.98M | 61.61M | 35.85M | 54.83M | 49.84M |
| Income Tax | 47.02M | 41.56M | 29.37M | 21.22M | 17.74M | 15.64M | 14.43M | 8.06M | 20.26M | 17.55M |
| Net Income | 141.63M | 124.94M | 92.60M | 66.50M | 60.88M | 49.34M | 47.18M | 27.79M | 34.57M | 32.30M |
| Net Income growth (YoY) | +13.36% | +34.93% | +39.25% | +9.22% | +23.39% | +4.59% | +69.76% | -19.61% | +7.05% | +24.51% |
| EPS (Basic) | 4.82 | 4.26 | 3.16 | 2.28 | 2.09 | 1.70 | 1.63 | 0.96 | 1.20 | 1.12 |
| EPS (Diluted) | 4.79 | 4.23 | 3.14 | 2.26 | 2.08 | 1.69 | 1.61 | 0.95 | 1.19 | 1.11 |
| Shares Outstanding (Basic) | 29.40M | 29.36M | 29.28M | 29.22K | 29.14K | 29.05K | 29.03K | 28.99K | 28.93K | 28.89K |
| Shares Outstanding (Diluted) | 29.57M | 29.53M | 29.46M | 29.38K | 29.34K | 29.23K | 29.22K | 29.19K | 29.11K | 29.05K |
| EBITDA | 194.52M | 169.04M | 128.99M | 98.39M | 90.01M | 77.41M | 73.72M | 68.22M | 68.65M | 63.39M |
| Gross Margin | 41.68% | 39.83% | 39.29% | 38.89% | 40.67% | 39.54% | 38.51% | 37.43% | 38.70% | 38.24% |
| Operating Margin | 20.01% | 19.11% | 16.78% | 15.43% | 15.58% | 15.31% | 14.64% | 13.11% | 14.06% | 13.38% |
| Net Margin | 15.45% | 15.12% | 13.16% | 11.76% | 12.05% | 11.60% | 11.11% | 6.41% | 8.59% | 8.20% |
This table shows 10 annual periods of Badger Meter's income statement, from FY 2025 back to FY 2016, across 18 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow BMI's reporting calendar. What is a income statement?