Badger Meter Inc
NYSE:BMI
Badger Meter Inc
Nestled in the vibrant milieu of Milwaukee, Wisconsin, Badger Meter Inc. embodies over a century of innovation and resilience. Founded in 1905, the company has evolved into a well-respected leader in flow measurement and control technologies. At its core, Badger Meter specializes in manufacturing products that measure and manage the flow of a variety of liquids, gases, and steam for residential, industrial, and commercial sectors. The company’s product portfolio boasts precision instruments like water meters and high-tech analytic solutions, which are essential in today’s climate-conscious world. By leveraging the power of the Internet of Things (IoT) and advanced data analytics, Badger Meter is not just a passive observer in fluid measurement but a proactive participant, constantly innovating to provide accurate data that empowers users to make intelligent decisions regarding resource management.
Badger Meter's revenue engine hums through its diverse array of offerings, ranging from products to comprehensive systems and services. The firm primarily monetizes its operations by selling these cutting-edge measuring devices and system solutions, often tailored to meet specific client needs. Additionally, Badger Meter derives income from its sophisticated software solutions that provide value-added services, including data hosting and network-as-a-service models. These digital platforms facilitate real-time data access and analytics, enabling clients to streamline operations, mitigate losses, and enhance their sustainability footprints. As utility companies and industrial entities alike strive for operational excellence and efficiency, Badger Meter Inc.'s ability to provide reliable measurement and data management solutions positions it as an integral player in its markets.
Nestled in the vibrant milieu of Milwaukee, Wisconsin, Badger Meter Inc. embodies over a century of innovation and resilience. Founded in 1905, the company has evolved into a well-respected leader in flow measurement and control technologies. At its core, Badger Meter specializes in manufacturing products that measure and manage the flow of a variety of liquids, gases, and steam for residential, industrial, and commercial sectors. The company’s product portfolio boasts precision instruments like water meters and high-tech analytic solutions, which are essential in today’s climate-conscious world. By leveraging the power of the Internet of Things (IoT) and advanced data analytics, Badger Meter is not just a passive observer in fluid measurement but a proactive participant, constantly innovating to provide accurate data that empowers users to make intelligent decisions regarding resource management.
Badger Meter's revenue engine hums through its diverse array of offerings, ranging from products to comprehensive systems and services. The firm primarily monetizes its operations by selling these cutting-edge measuring devices and system solutions, often tailored to meet specific client needs. Additionally, Badger Meter derives income from its sophisticated software solutions that provide value-added services, including data hosting and network-as-a-service models. These digital platforms facilitate real-time data access and analytics, enabling clients to streamline operations, mitigate losses, and enhance their sustainability footprints. As utility companies and industrial entities alike strive for operational excellence and efficiency, Badger Meter Inc.'s ability to provide reliable measurement and data management solutions positions it as an integral player in its markets.
Record Year: Badger Meter delivered record 2025 sales, profitability, and cash flow, with revenue surpassing $900 million and 11% annual growth.
Strong Margins: Operating profit margin expanded to 20%, and gross margin reached 42.1% in Q4, benefiting from favorable product mix and pricing actions.
SmartCover Integration: SmartCover contributed $40 million in 2025 sales, up 25% annualized, with improved profitability and full manufacturing integration completed.
Major Project Win: The PRASA AMI project in Puerto Rico, covering 1.6 million service connections, is one of the largest deployments globally and will support revenue growth starting in 2026.
Growth Outlook: Management reiterated confidence in high single-digit sales growth over a 5-year horizon, though near-term growth will be lower in the first half of 2026 before accelerating in the second half.
Capital Allocation: The company increased dividends for the 33rd consecutive year, repurchased $15 million in shares in Q4, and maintains significant cash for future investments.
Soft Q4 Utility Sales: Q4 utility water sales dipped sequentially due to project pacing and fewer operating days, but this was attributed to timing, not demand weakness.
