FY2025 · ended Dec 31, 2025 · Revenue $916.66M, +10.9% YoY · Filed Feb 17, 2026
Badger Meter, Inc. (BMI) files with the SEC under industry code 3824, Totalizing Fluid Meters & Counting Devices. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $916.7 million and net income of $141.6 million. Free cash flow was $169.7 million.
Revenue (TTM)
$881.24M
-2.2% vs year-ago TTM
Net income (TTM)
$126.53M
-8.8% vs year-ago TTM
Operating cash flow (TTM)
$158.68M
-12.3% vs year-ago TTM
Free cash flow (TTM)
$142.39M
-14.4% vs year-ago TTM
EPS (TTM)
$4.33
-7.8% vs year-ago TTM
Dividend per share (TTM)
$1.64
+15.5% vs year-ago TTM
Shares outstanding
29.18M
-0.8% vs prior year
Net cash
$213.33M
FY 2025
Operating margin
18.8%
FY 2026
Company profile
- Industry
- Totalizing Fluid Meters & Counting Devices (SIC 3824)
- Listed as
- BMI (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- WI
- Headquarters
- Milwaukee, WI
- SEC filer status
- Large accelerated filer
- SEC CIK
- 9092
- Former names
- BADGER METER INC (until Oct 23, 2026)
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $916.7M | $826.6M | $703.6M | $565.6M | $505.2M |
| Operating income | $183.4M | $157.9M | $118.0M | $87.3M | $78.7M |
| Net income | $141.6M | $124.9M | $92.6M | $66.5M | $60.9M |
| Diluted EPS | $4.79 | $4.23 | $3.14 | $2.26 | $2.08 |
| Operating cash flow | $183.7M | $155.0M | $110.1M | $82.5M | $87.5M |
| Free cash flow | $169.7M | $142.2M | $98.1M | $76.6M | $80.8M |
| Total assets | $973.6M | $816.4M | $716.9M | $603.0M | $530.8M |
| Stockholders' equity | $713.3M | $606.2M | $516.5M | $442.4M | $403.1M |
| Cash and investments | $226.0M | $295.3M | $191.8M | $138.1M | $87.2M |
| Total debt | $12.7M | $6.0M | $5.8M | $6.8M | $6.2M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 23, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 22, 2026 | Oct 22, 2026 |
| 10-Q | Quarterly report | Jul 23, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Jul 22, 2026 | Jul 22, 2026 |
| 8-K |
Current report
Material agreement, Agreement ended, New debt
|
Jun 11, 2026 | Jun 5, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
May 21, 2026 | May 21, 2026 |
All 1000 Badger Meter, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.