# Badger Meter Inc. (BMI) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Industrials / Electrical Equipment. Price $132.49, market value $3.8 billion.

## Valuation
- **P/E (trailing): 31.0×** (5-yr avg 46.1×, 3-yr avg 44.6×). Badger Meter Inc. trades at 31.0× trailing earnings, well below its own five-year average of 46.1×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 26.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 2.01**. A PEG of 2.01 means the P/E is high relative to expected earnings growth; the price already assumes a lot.
- **Price / sales: 4.4×**. Each dollar of revenue is priced at 4.4×.
- **Price / book: 5.6×**. The shares trade at 5.6× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 3.9%** (5-yr avg 2.6%). Free cash flow equals 3.9% of the market value, above its five-year average of 2.6%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 3.2%**. The inverse of the P/E: 3.2% of the price is earned each year.

## Profitability
- **Gross margin: 41.3%**. Badger Meter Inc. keeps 41.3% of revenue after the direct cost of what it sells.
- **Operating margin: 18.6%**. 18.6% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 15.5%**. 15.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 19.9%**. 19.9% on shareholders' equity is solid.
- **Return on invested capital: 18.1%**. Return on all capital, debt included, is 18.1%: comfortably above what that capital costs.
- **Return on assets: 12.9%**. Each dollar of assets produces 12.9% of profit.

## Growth
- **Revenue growth (1 yr): 10.9%** (3-yr 17.5%/yr, 5-yr 16.6%/yr). Revenue grew 10.9% over the last year, against 16.6% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 13.2%** (3-yr 28.5%/yr, 5-yr 23.2%/yr). Earnings per share rose 13.2%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 30.4%/yr**. Free cash flow has compounded at 30.4% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Current ratio: 3.36** (quick 3.36). Current assets cover the next year's liabilities 3.36 times.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.33%** ($1.60 per share, trailing). Badger Meter Inc. yields 1.33%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 31%** (31% of free cash flow). 31% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 21**. 21 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 16.2%/yr** (1-yr 21.3%). The dividend has compounded at 16.2% a year over five years, doubling roughly every 4 years at that pace.

## Analyst view
- **Analyst consensus: buy** (8 analysts). 8 analysts cover Badger Meter Inc.; the consensus is buy, with an average price target of $157.75 (+19% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -27.1%** (YTD -23.6%, 3-mo 4.7%). The shares are down 27.1% over twelve months including dividends.
- **From 52-week high: -35.1%** (18.2% above the low). Trading 35% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): 0.87** (volatility 45%). Beta of 0.87 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BMI · Page: https://foliofundamentals.com/stocks/bmi

Not investment advice.