Badger Meter Inc. Common Stock (BMI)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am a patient value investor. Badger Meter is a solid niche industrial tied to water utility metering and flow instrumentation. In fiscal 2025, ended 2025-12-31, revenue was $916.7 million, net income $141.6 million, and diluted EPS $4.79. That is up from fiscal 2023 revenue of $703.6 million and diluted EPS of $3.14, so the long-term record shows real growth. The balance sheet is strong: debt-to-equity is only 0.03, the Altman Z-score is 8.84, ROE is 18.48%, and trailing free cash flow was $150.3 million. Those are the marks of a durable business. But the stock at $131.25 on 2026-10-13 carries a FairStock P/E of 30.67, a P/B of 5.57, an EV/EBITDA of 18.53, and an FCF yield of 4.0%. The Graham Number is $47.63, so the price is far above a conservative asset-and-earnings benchmark. Recent momentum is mixed: in fiscal Q2 2026, ended 2026-06-30, revenue was $222.3 million, net income $29.7 million, and diluted EPS $1.02, up from fiscal Q1 2026's $202.3 million, $27.3 million, and $0.93, but below fiscal Q3 2025's net income of $35.1 million and diluted EPS of $1.19. FairStock labels it a FAST GROWER based on five-year profit growth of 23.5% and revenue growth of 16.6%, but the Piotroski F-Score is only 5/9. A wonderful business can be a poor investment at too high a price. Here the business is solid; the valuation leaves little room for error.

In plain English: Badger Meter makes water meters and instruments that measure and control water and other fluids, mainly for water utilities. The company is profitable and has very little debt, but recent quarterly profit has come down from earlier peaks. At $131.25 a share, the price looks high compared with what the company earns and owns.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer