Badger Meter, Inc. Income Statement
BMI / Information Technology|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
Badger Meter, Inc. reported $917M in revenue and $142M in net income for FY2025. Revenue has grown at a 9.3% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 3.50 (safe zone, above 2.9 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $916.7M | $826.6M | $703.6M | $565.6M | $505.2M | $425.5M | $402.4M | $433.7M | $377.7M | $364.8M | $334.1M | $319.7M | $262.9M | $276.6M | $262.9M |
| Cost of Revenue | $534.6M | $497.4M | $427.2M | $345.6M | $299.7M | $257.3M | $246.7M | $271.4M | $241.9M | $233.6M | $217.1M | $197.4M | $173.1M | $173.8M | $173.1M |
| Gross Profit | $382.1M | $329.2M | $276.4M | $220.0M | $205.5M | $168.2M | $155.7M | $162.3M | $135.8M | $131.1M | $117.0M | $122.2M | $89.8M | $102.8M | $89.8M |
| SG&A Expense | $198.6M | $171.2M | $158.4M | $132.7M | $126.8M | $103.1M | $99.2M | $105.5M | $93.4M | $85.1M | $77.9M | $77.8M | $62.3M | $58.0M | $62.3M |
| R&D Expense | $21.6M | $19.2M | $19.0M | $15.8M | $14.7M | $11.6M | $10.6M | $11.1M | $10.6M | $9.5M | $10.5M | $9.6M | $8.1M | $7.2M | $8.1M |
| Operating Income | $183.4M | $157.9M | $118.0M | $87.3M | $78.7M | $65.2M | $56.6M | $56.9M | $42.4M | $46.0M | $39.1M | $44.5M | $27.5M | $44.8M | $27.5M |
| Interest Expense | $5.1M | $8.6M | $4.0M | $552.0K | $20.0K | - | -$789.0K | -$1.2M | -$1.2M | -$1.1M | -$1.1M | -$998.0K | -$185.0K | -$385.0K | -$185.0K |
| Income Tax | $47.0M | $41.6M | $29.4M | $21.2M | $17.7M | $15.6M | $20.3M | $8.1M | $15.2M | $15.2M | $13.4M | $15.4M | $8.2M | $15.8M | $8.2M |
| Net Income | $141.6M | $124.9M | $92.6M | $66.5M | $60.9M | $49.3M | $34.6M | $27.8M | $25.9M | $29.7M | $24.6M | $28.0M | $19.2M | $28.7M | $19.2M |
| EPS (Basic) | $4.82 | $4.26 | $3.16 | $2.28 | $2.09 | $0.96 | $1.20 | $0.96 | $0.30 | $0.28 | $0.29 | $0.33 | $0.21 | $0.42 | $1.28 |
| EPS (Diluted) | $4.79 | $4.23 | $3.14 | $2.26 | $2.08 | $0.95 | $1.19 | $0.95 | $0.30 | $0.28 | $0.29 | $0.32 | $0.20 | $0.42 | $1.27 |
| Shares Outstanding | 29.6M | 37.2M | 37.2M | 37.2M | 37.2M | 37.2M | 37.2M | 29.2K | 28.9M | 28.8M | 14.4M | 14.4M | 15.0M | 15.0M | 15.0M |
| Gross Margin | 41.7% | 39.8% | 39.3% | 38.9% | 40.7% | 39.5% | 38.7% | 37.4% | 35.9% | 35.9% | 35.0% | 38.2% | 34.2% | 37.2% | 34.2% |
| Operating Margin | 20.0% | 19.1% | 16.8% | 15.4% | 15.6% | 15.3% | 14.1% | 13.1% | 11.2% | 12.6% | 11.7% | 13.9% | 10.5% | 16.2% | 10.5% |
| Profit Margin | 15.4% | 15.1% | 13.2% | 11.8% | 12.0% | 11.6% | 8.6% | 6.4% | 6.9% | 8.1% | 7.4% | 8.8% | 7.3% | 10.4% | 7.3% |