Badger Meter, Inc. (BMI) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 202.28M | 220.71M | 235.65M | 238.09M | 222.21M | 205.18M | 208.44M | 216.66M | 196.28M | 182.44M | 186.19M | 175.86M | 159.1M | 147.32M | 148.01M | 137.83M | 132.4M | 135.75M | 128.74M | 122.87M |
| Revenue Growth % | -8.97% | 7.57% | 13.06% | 9.89% | 13.21% | 12.47% | 11.95% | 23.2% | 23.37% | 23.84% | 25.8% | 27.59% | 20.17% | 8.53% | 14.97% | 12.18% | 12.36% | 20.85% | 13.34% | 34.84% |
| Cost of Goods Sold | 117.95M | 127.72M | 139.81M | 140.28M | 126.77M | 122.42M | 124.56M | 131.29M | 119.1M | 110.97M | 113.47M | 106.42M | 96.28M | 90.36M | 90.49M | 83.07M | 81.68M | 80.91M | 77.55M | 72.77M |
| COGS % of Revenue | 58.31% | 57.87% | 59.33% | 58.92% | 57.05% | 59.67% | 59.76% | 60.6% | 60.68% | 60.83% | 60.94% | 60.52% | 60.52% | 61.33% | 61.14% | 60.27% | 61.69% | 59.61% | 60.24% | 59.22% |
| Gross Profit | 84.33M | 92.99M | 95.84M | 97.81M | 95.44M | 82.76M | 83.88M | 85.37M | 77.18M | 71.47M | 72.72M | 69.43M | 62.82M | 56.97M | 57.52M | 54.76M | 50.72M | 54.84M | 51.18M | 50.1M |
| Gross Margin % | 41.69% | 42.13% | 40.67% | 41.08% | 42.95% | 40.33% | 40.24% | 39.4% | 39.32% | 39.17% | 39.06% | 39.48% | 39.48% | 38.67% | 38.86% | 39.73% | 38.31% | 40.39% | 39.76% | 40.78% |
| Gross Profit Growth % | -11.64% | 12.36% | 14.26% | 14.57% | 23.66% | 15.8% | 15.34% | 22.95% | 22.86% | 25.45% | 26.43% | 26.8% | 23.84% | 3.88% | 12.38% | 9.3% | 2.76% | 24.47% | 13.68% | 39.75% |
| Operating Expenses | 49.16M | 49.94M | 49.75M | 52.95M | 46.01M | 43.54M | 43.26M | 43.86M | 40.6M | 39.39M | 41.3M | 39.97M | 37.8M | 34.52M | 33.68M | 32.7M | 31.89M | 32.01M | 31.77M | 31.46M |
| OpEx % of Revenue | 24.3% | 22.63% | 21.11% | 22.24% | 20.71% | 21.22% | 20.75% | 20.24% | 20.68% | 21.59% | 22.18% | 22.73% | 23.76% | 23.43% | 22.76% | 23.73% | 24.09% | 23.58% | 24.68% | 25.6% |
| Selling, General & Admin | 0 | 0 | 49.75M | 46.01M | 46.01M | 43.54M | 43.26M | 43.86M | 40.6M | 39.39M | 41.33M | 39.97M | 37.8M | 34.52M | 33.68M | 32.7M | 31.89M | 32.01M | 31.77M | 31.46M |
| SG&A % of Revenue | - | - | 21.11% | 19.33% | 20.71% | 21.22% | 20.75% | 20.24% | 20.68% | 21.59% | 22.2% | 22.73% | 23.76% | 23.43% | 22.76% | 23.73% | 24.09% | 23.58% | 24.68% | 25.6% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19M | 0 | 0 | 0 | 15.8M | 0 | 0 | 0 | 14.7M | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | 10.41% | - | - | - | 10.72% | - | - | - | 10.83% | - | - |
| Other Operating Expenses | 1000K | 1000K | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | -1000K | -32K | 0 | 0 | -1000K | 0 | -33K | -32K | -1000K | -30K | -29K |
| Operating Income | 35.17M | 43.05M | 46.08M | 44.86M | 49.42M | 39.22M | 40.62M | 41.51M | 36.58M | 32.08M | 31.42M | 29.5M | 25.05M | 22.47M | 23.87M | 22.09M | 18.86M | 22.86M | 19.44M | 18.68M |
| Operating Margin % | 17.39% | 19.51% | 19.56% | 18.84% | 22.24% | 19.12% | 19.49% | 19.16% | 18.64% | 17.58% | 16.88% | 16.78% | 15.74% | 15.25% | 16.13% | 16.03% | 14.25% | 16.84% | 15.1% | 15.2% |
| Operating Income Growth % | -28.84% | 9.75% | 13.44% | 8.07% | 35.12% | 22.27% | 29.28% | 40.71% | 46.04% | 42.74% | 31.63% | 33.57% | 32.79% | -1.69% | 22.79% | 18.28% | 6.28% | 34.77% | -0.38% | 47.47% |
| EBITDA | 37.99M | 51.85M | 54.79M | 53.66M | 57.71M | 47.29M | 48.64M | 49.6M | 44.59M | 39.27M | 38.49M | 36.41M | 31.99M | 28.55M | 30.58M | 28.77M | 25.64M | 29.75M | 26.47M | 25.69M |
| EBITDA Margin % | 18.78% | 23.49% | 23.25% | 22.54% | 25.97% | 23.05% | 23.34% | 22.89% | 22.72% | 21.52% | 20.67% | 20.7% | 20.11% | 19.38% | 20.66% | 20.87% | 19.36% | 21.91% | 20.56% | 20.91% |
| EBITDA Growth % | -34.17% | 9.64% | 12.65% | 8.17% | 29.42% | 20.43% | 26.37% | 36.24% | 39.37% | 37.53% | 25.87% | 26.57% | 24.79% | -4% | 15.53% | 11.99% | 3.86% | 27.97% | 1.84% | 35.95% |
| D&A (Non-Cash Add-back) | 2.82M | 8.8M | 8.71M | 8.79M | 8.28M | 8.07M | 8.02M | 8.09M | 8.01M | 7.19M | 7.07M | 6.91M | 6.95M | 6.08M | 6.71M | 6.68M | 6.78M | 6.88M | 7.03M | 7.01M |
| EBIT | 36.34M | 44.64M | 47.44M | 45.79M | 50.79M | 39.21M | 40.61M | 41.5M | 36.57M | 32.05M | 31.39M | 29.47M | 25.01M | 22.44M | 23.95M | 22.05M | 18.83M | 22.83M | 19.41M | 18.65M |
| Net Interest Income | 1.14M | 1.56M | 1.33M | 895K | 1.33M | 2.92M | 2.3M | 1.86M | 1.53M | 1.4M | 1.2M | 827K | 622K | 466K | 108K | -9K | -13K | 48K | -14K | -7K |
| Interest Income | 1.14M | 1.56M | 1.33M | 895K | 1.33M | 2.92M | 2.3M | 1.86M | 1.53M | 1.4M | 1.2M | 827K | 622K | 465K | 108K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9K | 13K | -48K | 14K | 7K |
| Other Income/Expense | 1.17M | 1.59M | 1.36M | 923K | 1.36M | 2.91M | 2.29M | 1.85M | 1.51M | 1.36M | 1.17M | 794K | 590K | 433K | 76K | -42K | -45K | 19K | -44K | -36K |
| Pretax Income | 36.34M | 44.64M | 47.44M | 45.79M | 50.79M | 42.13M | 42.91M | 43.36M | 38.09M | 33.44M | 32.59M | 30.3M | 25.64M | 22.91M | 23.95M | 22.05M | 18.82M | 22.88M | 19.4M | 18.64M |
| Pretax Margin % | 17.96% | 20.23% | 20.13% | 19.23% | 22.86% | 20.54% | 20.59% | 20.01% | 19.41% | 18.33% | 17.5% | 17.23% | 16.11% | 15.55% | 16.18% | 15.99% | 14.21% | 16.85% | 15.07% | 15.17% |
| Income Tax | 9M | 11.07M | 12.37M | 11.2M | 12.39M | 11.42M | 10.87M | 10.31M | 8.96M | 8.72M | 6.62M | 7.8M | 6.22M | 5.37M | 6.01M | 5.38M | 4.46M | 5.6M | 3.54M | 4.67M |
| Effective Tax Rate % | 24.77% | 24.79% | 26.06% | 24.47% | 24.39% | 27.1% | 25.34% | 23.77% | 23.52% | 26.08% | 20.32% | 25.76% | 24.27% | 23.43% | 25.11% | 24.41% | 23.69% | 24.49% | 18.26% | 25.04% |
| Net Income | 27.34M | 33.58M | 35.08M | 34.58M | 38.4M | 30.72M | 32.04M | 33.06M | 29.13M | 24.72M | 25.97M | 22.49M | 19.41M | 17.54M | 17.93M | 16.66M | 14.36M | 17.28M | 15.86M | 13.97M |
| Net Margin % | 13.51% | 15.21% | 14.89% | 14.53% | 17.28% | 14.97% | 15.37% | 15.26% | 14.84% | 13.55% | 13.95% | 12.79% | 12.2% | 11.91% | 12.12% | 12.09% | 10.85% | 12.73% | 12.32% | 11.37% |
| Net Income Growth % | -28.81% | 9.3% | 9.49% | 4.62% | 31.81% | 24.25% | 23.37% | 46.96% | 50.04% | 40.95% | 44.81% | 34.98% | 35.2% | 1.52% | 13.11% | 19.27% | 4.2% | 31.94% | 6.69% | 46.55% |
| Net Income (Continuing) | 27.34M | 33.58M | 35.08M | 34.58M | 38.4M | 30.72M | 32.04M | 33.06M | 29.13M | 24.72M | 25.97M | 22.49M | 19.41M | 17.54M | 17.93M | 16.66M | 14.36M | 17.28M | 15.86M | 13.97M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.93 | 1.14 | 1.19 | 1.17 | 1.30 | 1.04 | 1.08 | 1.12 | 0.99 | 0.84 | 0.88 | 0.76 | 0.66 | 0.60 | 0.61 | 0.57 | 0.49 | 0.59 | 0.54 | 0.48 |
| EPS Growth % | -28.46% | 9.62% | 10.19% | 4.46% | 31.31% | 23.81% | 22.73% | 47.37% | 50% | 40% | 44.26% | 33.33% | 34.69% | 1.69% | 12.96% | 18.75% | 4.26% | 31.11% | 5.88% | 45.45% |
| EPS (Basic) | 0.94 | 1.14 | 1.19 | 1.18 | 1.31 | 1.05 | 1.09 | 1.13 | 0.99 | 0.84 | 0.89 | 0.77 | 0.66 | 0.60 | 0.61 | 0.57 | 0.49 | 0.59 | 0.54 | 0.48 |
| Diluted Shares Outstanding | 29.37M | 29.54M | 29.58M | 29.58M | 29.56M | 29.37M | 29.55M | 29.53M | 29.49M | 29.47M | 29.47M | 29.45M | 29.42M | 29.41M | 29.37M | 29.34M | 29.36M | 29.37M | 29.34M | 29.31M |
| Basic Shares Outstanding | 29.21M | 29.38M | 29.42M | 29.4M | 29.38M | 29.37M | 29.37M | 29.36M | 29.32M | 29.31M | 29.29M | 29.27M | 29.26M | 29.23M | 29.22M | 29.21M | 29.2M | 29.19M | 29.16M | 29.11M |
| Dividend Payout Ratio | 42.84% | 34.96% | 33.55% | 28.93% | 26.09% | 32.51% | 31.17% | 24% | 27.26% | 32.03% | 30.49% | 29.3% | 34.13% | 37.57% | 36.69% | 35.06% | 40.87% | 33.79% | 36.83% | 37.5% |