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BADGER METER INC BMI

NYSE · stock · Totalizing Fluid Meters & Counting Devices · website · IPO 1980-03-17 · LEI

BADGER METER INC statistics & valuation

Market cap$4.1B
P / E29.0×
P / S4.5×
P / B5.8×
P / FCF24.2×
Dividend yield1.06%
Net margin15.5%
Return on equity19.9%
FCF margin18.5%
Return on capital22.3%
Graham number -66.3%$45.45

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($45.45); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
8.20% 8.60% 6.40% 11.10% 11.60% 12.10% 11.80% 13.20% 15.10% 15.50% 2016201720182019202020212022202320242025
Gross margin (%)
38.20% 38.70% 37.40% 38.50% 39.50% 40.70% 38.90% 39.30% 39.80% 41.70% 2016201720182019202020212022202320242025
Operating margin (%)
13.40% 14.10% 13.10% 14.60% 15.30% 15.60% 15.40% 16.80% 19.10% 20.00% 2016201720182019202020212022202320242025
Return on equity (%)
12.60% 12.50% 9.20% 14.20% 13.70% 15.10% 15.00% 17.90% 20.60% 19.90% 2016201720182019202020212022202320242025
Shares outstanding
29050 29111 37.2M 37.2M 37.2M 37.2M 37.2M 37.2M 37.2M 37.2M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
9.20% 8.80% 7.10% 11.20% 10.50% 11.50% 11.00% 12.90% 15.30% 14.50% 2016201720182019202020212022202320242025
Free cash flow margin (%)
11.60% 8.60% 11.90% 17.20% 18.90% 16.00% 13.50% 13.90% 17.20% 18.50% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$1.11 $1.19 $0.95 $1.61 $1.69 $2.08 $2.26 $3.14 $4.23 $4.79 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

BADGER METER INC trades at about 28.1× earnings — below its 10-year norm (10-year range 30.6×–55.6×, median 48.6×).

28.1× 55.6×

Shaded band = 10-year range (30.6×–55.6×); dot = today's 28.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin41.7%39.8%39.3%38.9%40.7%39.5%38.5%37.4%38.7%38.2%
Operating margin20.0%19.1%16.8%15.4%15.6%15.3%14.6%13.1%14.1%13.4%
Net margin15.5%15.1%13.2%11.8%12.1%11.6%11.1%6.4%8.6%8.2%
FCF margin18.5%17.2%13.9%13.5%16.0%18.9%17.2%11.9%8.6%11.6%
Return on assets14.5%15.3%12.9%11.0%11.5%10.5%11.2%7.1%8.8%9.2%
Return on equity19.9%20.6%17.9%15.0%15.1%13.7%14.2%9.2%12.5%12.6%
Current ratio3.364.573.353.153.183.293.502.741.701.99

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.