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 25/3021% below fair value
$153.59−5.12 (-3.23%)
Close on Nov 12, 2026Market cap $4.39BP/E 32.1Yield 0.96%
Badger Meter operating margin
Operating margin is operating income as a percentage of revenue.
Badger Meter's operating margin for the twelve months ending Sep 30, 2025 was 19.7%. For fiscal 2025 it was 20.0%, against 19.1% the year before. The highest annual figure on record is 20.0% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 20.0% | +0.9 |
| FY2024 | Dec 31, 2024 | 19.1% | +2.3 |
| FY2023 | Dec 31, 2023 | 16.8% | +1.3 |
| FY2022 | Dec 31, 2022 | 15.4% | −0.1 |
| FY2021 | Dec 31, 2021 | 15.6% | +0.3 |
| FY2020 | Dec 31, 2020 | 15.3% | +0.7 |
| FY2019 | Dec 31, 2019 | 14.6% | +1.5 |
| FY2018 | Dec 31, 2018 | 13.1% | −1.0 |
| FY2017 | Dec 31, 2017 | 14.1% | +0.7 |
| FY2016 | Dec 31, 2016 | 13.4% | +2.2 |
| FY2015 | Dec 31, 2015 | 11.2% | −1.4 |
| FY2014 | Dec 31, 2014 | 12.6% | +0.9 |
| FY2013 | Dec 31, 2013 | 11.7% | −2.2 |
| FY2012 | Dec 31, 2012 | 13.9% | +3.4 |
| FY2011 | Dec 31, 2011 | 10.5% | −5.7 |
| FY2010 | Dec 31, 2010 | 16.2% | −0.7 |
| FY2009 | Dec 31, 2009 | 16.9% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 20.2% | +1.1 |
| Q2 FY2026 | Jun 30, 2026 | 17.7% | −1.8 |
| Q1 FY2026 | Mar 31, 2026 | 17.4% | −1.8 |
| Q1 FY2025 | Sep 30, 2025 | 20.2% | +1.5 |
| Q4 FY2024 | Dec 31, 2024 | 19.1% | +1.5 |
| Q3 FY2024 | Sep 30, 2024 | 19.5% | +2.6 |
| Q2 FY2024 | Jun 30, 2024 | 19.2% | +2.4 |
| Q1 FY2024 | Mar 31, 2024 | 18.6% | +2.9 |
| Q4 FY2023 | Dec 31, 2023 | 17.6% | +2.3 |
| Q3 FY2023 | Sep 30, 2023 | 16.9% | +0.7 |
| Q2 FY2023 | Jun 30, 2023 | 16.8% | +0.8 |
| Q1 FY2023 | Mar 31, 2023 | 15.7% | +1.5 |
| Q4 FY2022 | Dec 31, 2022 | 15.3% | −1.6 |
| Q3 FY2022 | Sep 30, 2022 | 16.1% | +1.0 |
| Q2 FY2022 | Jun 30, 2022 | 16.0% | +0.8 |
| Q1 FY2022 | Mar 31, 2022 | 14.2% | −0.8 |
| Q4 FY2021 | Dec 31, 2021 | 16.8% | +1.7 |
| Q3 FY2021 | Sep 30, 2021 | 15.1% | −2.1 |
| Q2 FY2021 | Jun 30, 2021 | 15.2% | +1.3 |
| Q1 FY2021 | Mar 31, 2021 | 15.1% | +0.3 |
| Q4 FY2020 | Dec 31, 2020 | 15.1% | −0.1 |
| Q3 FY2020 | Sep 30, 2020 | 17.2% | +2.0 |
| Q2 FY2020 | Jun 30, 2020 | 13.9% | −0.6 |
| Q1 FY2020 | Mar 31, 2020 | 14.8% | +1.1 |
| Q4 FY2019 | Dec 31, 2019 | 15.2% | +1.0 |
| Q3 FY2019 | Sep 30, 2019 | 15.1% | +0.9 |
| Q2 FY2019 | Jun 30, 2019 | 14.5% | +0.1 |
| Q1 FY2019 | Mar 31, 2019 | 13.7% | +4.2 |
| Q4 FY2018 | Dec 31, 2018 | 14.2% | −0.2 |
| Q3 FY2018 | Sep 30, 2018 | 14.2% | +1.9 |
| Q2 FY2018 | Jun 30, 2018 | 14.4% | −1.8 |
| Q1 FY2018 | Mar 31, 2018 | 9.5% | −3.9 |
| Q4 FY2017 | Dec 31, 2017 | 14.4% | +2.5 |
| Q3 FY2017 | Sep 30, 2017 | 12.3% | −2.2 |
| Q2 FY2017 | Jun 30, 2017 | 16.2% | – |
| Q1 FY2017 | Mar 31, 2017 | 13.4% | – |
| Q4 FY2016 | Dec 31, 2016 | 11.8% | – |
| Q3 FY2016 | Sep 30, 2016 | 14.5% | – |
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