State Ledger
Company profile

BADGER METER INC CIK 9092

Ticker
BMI (NYSE)
Industry
Totalizing Fluid Meters & Counting Devices
Headquarters
Milwaukee, WI 53223
Fiscal year end
2025 (FY)
Market Data
Close
$132.46
Change
+$0.96
Change %
0.73%
Volume
15,012

BMI · trading date Oct 12, 2026 · previous close $131.50 · source: Alpaca (IEX feed, not consolidated full-market data).

Key Financials
Revenue
$916.66M
Net income
$141.63M
Total assets
$973.58M
Total liabilities
—
Stockholders' equity
$713.29M
Cash & equivalents
—
Operating income
$183.42M
Operating cash flow
$183.70M
Capital expenditures
$14.03M

Fiscal year 2025, via 10-K filed 2026-02-17. A dash means this figure wasn't reported in the source filing under a field State Ledger recognizes - not that the value is zero.

Financial Performance
Operating margin
20.0%
Net margin
15.5%
Free cash flow
$169.67M
Free cash flow margin
18.5%
Liabilities / assets
—
Equity / assets
73.3%
CapEx / revenue
1.5%
Operating cash flow / net income
1.30×

Derived from the fiscal year 2025 figures above. These metrics are mathematical calculations and do not represent a rating or assessment of the company.

Financial History
Fiscal yearRevenueNet incomeAssetsLiabilitiesEquity
2025 $916.66M $141.63M $973.58M — $713.29M
2024 $826.56M $124.94M $816.41M — $606.23M
2023 $703.59M $92.60M $716.92M — $516.48M
2022 $565.57M $66.50M $603.05M — $442.42M
2021 $505.20M $60.88M $530.82M — $403.07M
Company Details
SIC code
3824
State of incorporation
WI
Active filer
Yes
Most recent SEC filing
Form 4
2026-07-31
Financials filed via
Form 10-K
filed 2026-02-17

"Most recent SEC filing" may differ from the filing used for the financial figures above.

Location
Milwaukee, WI 53223
4545 WEST BROWN DEER ROAD
Data & Methodology

SEC EDGAR submissions API (identity, collected Sep 19, 2026, 15:11 UTC) and SEC XBRL Company Facts API (financials, collected Sep 26, 2026, 16:02 UTC) · figures as originally filed, not restated · a dash always means a value wasn't reported, never a real zero.

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