Badger Meter Inc (BMI) stock
BMINYSETotalizing Fluid Meters & Counting DevicesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 23, 2026Score 25/3020% below fair value
$154.72+1.13 (+0.74%)
Close on Nov 13, 2026Market cap $4.42BP/E 32.3Yield 0.96%
Badger Meter gross margin
Gross margin is gross profit as a percentage of revenue.
Badger Meter's gross margin for the twelve months ending Sep 30, 2025 was 40.8%. For fiscal 2025 it was 41.7%, against 39.8% the year before. The highest annual figure on record is 41.7% in fiscal 2025.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 41.7% | +1.9 |
| FY2024 | Dec 31, 2024 | 39.8% | +0.5 |
| FY2023 | Dec 31, 2023 | 39.3% | +0.4 |
| FY2022 | Dec 31, 2022 | 38.9% | −1.8 |
| FY2021 | Dec 31, 2021 | 40.7% | +1.1 |
| FY2020 | Dec 31, 2020 | 39.5% | +1.0 |
| FY2019 | Dec 31, 2019 | 38.5% | +1.1 |
| FY2018 | Dec 31, 2018 | 37.4% | −1.3 |
| FY2017 | Dec 31, 2017 | 38.7% | +0.5 |
| FY2016 | Dec 31, 2016 | 38.2% | +2.3 |
| FY2015 | Dec 31, 2015 | 35.9% | −0.0 |
| FY2014 | Dec 31, 2014 | 36.0% | +0.9 |
| FY2013 | Dec 31, 2013 | 35.0% | −3.2 |
| FY2012 | Dec 31, 2012 | 38.2% | +4.1 |
| FY2011 | Dec 31, 2011 | 34.2% | −3.0 |
| FY2010 | Dec 31, 2010 | 37.2% | −1.6 |
| FY2009 | Dec 31, 2009 | 38.8% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 41.9% | +1.6 |
| Q2 FY2026 | Jun 30, 2026 | 40.8% | +0.6 |
| Q1 FY2026 | Mar 31, 2026 | 41.7% | +2.3 |
| Q1 FY2025 | Sep 30, 2025 | 41.5% | +2.2 |
| Q4 FY2024 | Dec 31, 2024 | 40.3% | +1.2 |
| Q3 FY2024 | Sep 30, 2024 | 40.2% | +1.2 |
| Q2 FY2024 | Jun 30, 2024 | 39.4% | −0.1 |
| Q1 FY2024 | Mar 31, 2024 | 39.3% | −0.2 |
| Q4 FY2023 | Dec 31, 2023 | 39.2% | +0.5 |
| Q3 FY2023 | Sep 30, 2023 | 39.1% | +0.2 |
| Q2 FY2023 | Jun 30, 2023 | 39.5% | −0.2 |
| Q1 FY2023 | Mar 31, 2023 | 39.5% | +1.2 |
| Q4 FY2022 | Dec 31, 2022 | 38.7% | −1.7 |
| Q3 FY2022 | Sep 30, 2022 | 38.9% | −0.9 |
| Q2 FY2022 | Jun 30, 2022 | 39.7% | −1.0 |
| Q1 FY2022 | Mar 31, 2022 | 38.3% | −3.6 |
| Q4 FY2021 | Dec 31, 2021 | 40.4% | +1.2 |
| Q3 FY2021 | Sep 30, 2021 | 39.8% | +0.1 |
| Q2 FY2021 | Jun 30, 2021 | 40.8% | +1.4 |
| Q1 FY2021 | Mar 31, 2021 | 41.9% | +2.0 |
| Q4 FY2020 | Dec 31, 2020 | 39.2% | +1.0 |
| Q3 FY2020 | Sep 30, 2020 | 39.6% | +1.3 |
| Q2 FY2020 | Jun 30, 2020 | 39.3% | +0.4 |
| Q1 FY2020 | Mar 31, 2020 | 39.9% | +1.4 |
| Q4 FY2019 | Dec 31, 2019 | 38.2% | −0.2 |
| Q3 FY2019 | Sep 30, 2019 | 38.4% | −1.4 |
| Q2 FY2019 | Jun 30, 2019 | 38.9% | +2.4 |
| Q1 FY2019 | Mar 31, 2019 | 38.6% | +3.6 |
| Q4 FY2018 | Dec 31, 2018 | 38.5% | −1.9 |
| Q3 FY2018 | Sep 30, 2018 | 39.7% | +2.7 |
| Q2 FY2018 | Jun 30, 2018 | 36.5% | −2.9 |
| Q1 FY2018 | Mar 31, 2018 | 35.0% | −3.1 |
| Q4 FY2017 | Dec 31, 2017 | 40.4% | +4.3 |
| Q3 FY2017 | Sep 30, 2017 | 37.0% | −3.1 |
| Q2 FY2017 | Jun 30, 2017 | 39.4% | – |
| Q1 FY2017 | Mar 31, 2017 | 38.0% | – |
| Q4 FY2016 | Dec 31, 2016 | 36.0% | – |
| Q3 FY2016 | Sep 30, 2016 | 40.1% | – |
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