BADGER METER INC (BMI) Fundamental Analysis & Valuation

NYSE:BMI • US0565251081

Current stock price

158.5 USD
+3.27 (+2.11%)
Last:

This BMI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. BMI Profitability Analysis

1.1 Basic Checks

  • In the past year BMI was profitable.
  • BMI had a positive operating cash flow in the past year.
  • Each year in the past 5 years BMI has been profitable.
  • BMI had a positive operating cash flow in each of the past 5 years.
BMI Yearly Net Income VS EBIT VS OCF VS FCFBMI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M

1.2 Ratios

  • With an excellent Return On Assets value of 14.55%, BMI belongs to the best of the industry, outperforming 97.58% of the companies in the same industry.
  • The Return On Equity of BMI (19.86%) is better than 92.74% of its industry peers.
  • BMI's Return On Invested Capital of 16.73% is amongst the best of the industry. BMI outperforms 95.97% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for BMI is significantly above the industry average of 8.11%.
  • The last Return On Invested Capital (16.73%) for BMI is above the 3 year average (16.29%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 14.55%
ROE 19.86%
ROIC 16.73%
ROA(3y)14.26%
ROA(5y)13.05%
ROE(3y)19.46%
ROE(5y)17.71%
ROIC(3y)16.29%
ROIC(5y)15.06%
BMI Yearly ROA, ROE, ROICBMI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • BMI has a better Profit Margin (15.45%) than 91.94% of its industry peers.
  • BMI's Profit Margin has improved in the last couple of years.
  • BMI has a better Operating Margin (20.01%) than 97.58% of its industry peers.
  • BMI's Operating Margin has improved in the last couple of years.
  • With a decent Gross Margin value of 41.68%, BMI is doing good in the industry, outperforming 70.97% of the companies in the same industry.
  • In the last couple of years the Gross Margin of BMI has remained more or less at the same level.
Industry RankSector Rank
OM 20.01%
PM (TTM) 15.45%
GM 41.68%
OM growth 3Y9.04%
OM growth 5Y5.48%
PM growth 3Y9.53%
PM growth 5Y5.93%
GM growth 3Y2.33%
GM growth 5Y1.07%
BMI Yearly Profit, Operating, Gross MarginsBMI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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8

2. BMI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BMI is still creating some value.
  • The number of shares outstanding for BMI remains at a similar level compared to 1 year ago.
  • BMI has more shares outstanding than it did 5 years ago.
  • There is no outstanding debt for BMI. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
BMI Yearly Shares OutstandingBMI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M 20M 25M
BMI Yearly Total Debt VS Total AssetsBMI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

2.2 Solvency

  • BMI has an Altman-Z score of 13.37. This indicates that BMI is financially healthy and has little risk of bankruptcy at the moment.
  • BMI has a Altman-Z score of 13.37. This is amongst the best in the industry. BMI outperforms 89.52% of its industry peers.
  • BMI has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Altman-Z 13.37
ROIC/WACC1.74
WACC9.64%
BMI Yearly LT Debt VS Equity VS FCFBMI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

2.3 Liquidity

  • BMI has a Current Ratio of 3.36. This indicates that BMI is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 3.36, BMI is in the better half of the industry, outperforming 65.32% of the companies in the same industry.
  • BMI has a Quick Ratio of 2.36. This indicates that BMI is financially healthy and has no problem in meeting its short term obligations.
  • BMI has a Quick ratio of 2.36. This is in the better half of the industry: BMI outperforms 62.10% of its industry peers.
Industry RankSector Rank
Current Ratio 3.36
Quick Ratio 2.36
BMI Yearly Current Assets VS Current LiabilitesBMI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. BMI Growth Analysis

3.1 Past

  • BMI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.48%, which is quite good.
  • BMI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.07% yearly.
  • Looking at the last year, BMI shows a quite strong growth in Revenue. The Revenue has grown by 10.90% in the last year.
  • Measured over the past years, BMI shows a quite strong growth in Revenue. The Revenue has been growing by 16.59% on average per year.
EPS 1Y (TTM)13.48%
EPS 3Y28.35%
EPS 5Y23.07%
EPS Q2Q%9.62%
Revenue 1Y (TTM)10.9%
Revenue growth 3Y17.46%
Revenue growth 5Y16.59%
Sales Q2Q%7.57%

3.2 Future

  • Based on estimates for the next years, BMI will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.55% on average per year.
  • BMI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.18% yearly.
EPS Next Y7.64%
EPS Next 2Y8.1%
EPS Next 3Y9.33%
EPS Next 5Y9.55%
Revenue Next Year4.35%
Revenue Next 2Y5.54%
Revenue Next 3Y6.44%
Revenue Next 5Y7.18%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
BMI Yearly Revenue VS EstimatesBMI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M 1B
BMI Yearly EPS VS EstimatesBMI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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4

4. BMI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 33.02, BMI can be considered very expensive at the moment.
  • Based on the Price/Earnings ratio, BMI is valued a bit cheaper than 66.94% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of BMI to the average of the S&P500 Index (26.86), we can say BMI is valued slightly more expensively.
  • The Price/Forward Earnings ratio is 30.68, which means the current valuation is very expensive for BMI.
  • BMI's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BMI is cheaper than 63.71% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 37.39. BMI is around the same levels.
Industry RankSector Rank
PE 33.02
Fwd PE 30.68
BMI Price Earnings VS Forward Price EarningsBMI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, BMI is valued a bit cheaper than the industry average as 66.13% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, BMI is valued a bit cheaper than the industry average as 74.19% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 27.26
EV/EBITDA 19.74
BMI Per share dataBMI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • BMI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)4.32
PEG (5Y)1.43
EPS Next 2Y8.1%
EPS Next 3Y9.33%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. BMI Dividend Analysis

5.1 Amount

  • BMI has a Yearly Dividend Yield of 1.03%.
  • BMI's Dividend Yield is rather good when compared to the industry average which is at 0.45. BMI pays more dividend than 87.10% of the companies in the same industry.
  • With a Dividend Yield of 1.03, BMI pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.03%

5.2 History

  • The dividend of BMI is nicely growing with an annual growth rate of 16.20%!
  • BMI has been paying a dividend for at least 10 years, so it has a reliable track record.
  • BMI has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)16.2%
Div Incr Years19
Div Non Decr Years19
BMI Yearly Dividends per shareBMI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1

5.3 Sustainability

  • BMI pays out 30.73% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of BMI is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP30.73%
EPS Next 2Y8.1%
EPS Next 3Y9.33%
BMI Yearly Income VS Free CF VS DividendBMI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
BMI Dividend Payout.BMI Dividend Payout, showing the Payout Ratio.BMI Dividend Payout.PayoutRetained Earnings

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BMI Fundamentals: All Metrics, Ratios and Statistics

BADGER METER INC

NYSE:BMI (4/13/2026, 10:57:17 AM)

158.5

+3.27 (+2.11%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)01-28
Earnings (Next)04-17
Inst Owners106.69%
Inst Owner Change0.13%
Ins Owners0.62%
Ins Owner Change4.95%
Market Cap4.63B
Revenue(TTM)916.66M
Net Income(TTM)141.63M
Analysts75.29
Price Target184.65 (16.5%)
Short Float %9.52%
Short Ratio6.37
Dividend
Industry RankSector Rank
Dividend Yield 1.03%
Yearly Dividend1.48
Dividend Growth(5Y)16.2%
DP30.73%
Div Incr Years19
Div Non Decr Years19
Ex-Date02-27
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.25%
Min EPS beat(2)-3.05%
Max EPS beat(2)3.55%
EPS beat(4)2
Avg EPS beat(4)3.71%
Min EPS beat(4)-7.6%
Max EPS beat(4)21.92%
EPS beat(8)4
Avg EPS beat(8)4.09%
EPS beat(12)8
Avg EPS beat(12)6.31%
EPS beat(16)10
Avg EPS beat(16)5.24%
Revenue beat(2)1
Avg Revenue beat(2)-2.61%
Min Revenue beat(2)-5.83%
Max Revenue beat(2)0.62%
Revenue beat(4)1
Avg Revenue beat(4)-1.53%
Min Revenue beat(4)-5.83%
Max Revenue beat(4)0.62%
Revenue beat(8)4
Avg Revenue beat(8)0.46%
Revenue beat(12)7
Avg Revenue beat(12)2.21%
Revenue beat(16)10
Avg Revenue beat(16)2.16%
PT rev (1m)0.44%
PT rev (3m)-17.04%
EPS NQ rev (1m)0.22%
EPS NQ rev (3m)-6.67%
EPS NY rev (1m)0.01%
EPS NY rev (3m)-5.57%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.62%
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)-3.82%
Valuation
Industry RankSector Rank
PE 33.02
Fwd PE 30.68
P/S 5.05
P/FCF 27.26
P/OCF 25.18
P/B 6.48
P/tB 12.88
EV/EBITDA 19.74
EPS(TTM)4.8
EY3.03%
EPS(NY)5.17
Fwd EY3.26%
FCF(TTM)5.81
FCFY3.67%
OCF(TTM)6.3
OCFY3.97%
SpS31.41
BVpS24.44
TBVpS12.31
PEG (NY)4.32
PEG (5Y)1.43
Graham Number51.38
Profitability
Industry RankSector Rank
ROA 14.55%
ROE 19.86%
ROCE 22.29%
ROIC 16.73%
ROICexc 23.07%
ROICexgc 56.71%
OM 20.01%
PM (TTM) 15.45%
GM 41.68%
FCFM 18.51%
ROA(3y)14.26%
ROA(5y)13.05%
ROE(3y)19.46%
ROE(5y)17.71%
ROIC(3y)16.29%
ROIC(5y)15.06%
ROICexc(3y)25.01%
ROICexc(5y)21.97%
ROICexgc(3y)48.77%
ROICexgc(5y)42.29%
ROCE(3y)21.7%
ROCE(5y)20.07%
ROICexgc growth 3Y19.67%
ROICexgc growth 5Y17.28%
ROICexc growth 3Y7.68%
ROICexc growth 5Y9.3%
OM growth 3Y9.04%
OM growth 5Y5.48%
PM growth 3Y9.53%
PM growth 5Y5.93%
GM growth 3Y2.33%
GM growth 5Y1.07%
F-Score6
Asset Turnover0.94
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Debt/EBITDA 0
Cap/Depr 40.56%
Cap/Sales 1.53%
Interest Coverage 250
Cash Conversion 84.26%
Profit Quality 119.8%
Current Ratio 3.36
Quick Ratio 2.36
Altman-Z 13.37
F-Score6
WACC9.64%
ROIC/WACC1.74
Cap/Depr(3y)41.03%
Cap/Depr(5y)33.95%
Cap/Sales(3y)1.6%
Cap/Sales(5y)1.43%
Profit Quality(3y)113.19%
Profit Quality(5y)117.47%
High Growth Momentum
Growth
EPS 1Y (TTM)13.48%
EPS 3Y28.35%
EPS 5Y23.07%
EPS Q2Q%9.62%
EPS Next Y7.64%
EPS Next 2Y8.1%
EPS Next 3Y9.33%
EPS Next 5Y9.55%
Revenue 1Y (TTM)10.9%
Revenue growth 3Y17.46%
Revenue growth 5Y16.59%
Sales Q2Q%7.57%
Revenue Next Year4.35%
Revenue Next 2Y5.54%
Revenue Next 3Y6.44%
Revenue Next 5Y7.18%
EBIT growth 1Y16.14%
EBIT growth 3Y28.08%
EBIT growth 5Y22.98%
EBIT Next Year24.67%
EBIT Next 3Y13.35%
EBIT Next 5Y11.6%
FCF growth 1Y19.31%
FCF growth 3Y30.38%
FCF growth 5Y16.08%
OCF growth 1Y18.49%
OCF growth 3Y30.61%
OCF growth 5Y15.45%

BADGER METER INC / BMI Fundamental Analysis FAQ

What is the fundamental rating for BMI stock?

ChartMill assigns a fundamental rating of 7 / 10 to BMI.


Can you provide the valuation status for BADGER METER INC?

ChartMill assigns a valuation rating of 4 / 10 to BADGER METER INC (BMI). This can be considered as Fairly Valued.


What is the profitability of BMI stock?

BADGER METER INC (BMI) has a profitability rating of 9 / 10.


What is the valuation of BADGER METER INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for BADGER METER INC (BMI) is 33.02 and the Price/Book (PB) ratio is 6.48.


What is the earnings growth outlook for BADGER METER INC?

The Earnings per Share (EPS) of BADGER METER INC (BMI) is expected to grow by 7.64% in the next year.