Badger Meter, Inc. (BMI)

NYSE: BMI · Totalizing Fluid Meters & Counting Devices · Milwaukee, WI · filing with the SEC since 1994

Grade7.0

◀ Past 7.4● Present 7.7▶ Future 5.8

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Income statement, as filed

In thousands of US dollars (USD), as filed; per-share figures in US dollars; share counts. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Report filed	Feb 17, 2026	Feb 14, 2025	Feb 16, 2024	Feb 22, 2023	Feb 23, 2022	Feb 24, 2021	Feb 21, 2020	Feb 26, 2019	Mar 1, 2018	Feb 28, 2017
Revenue	916,663	826,558	703,592	565,568	505,198	425,544	424,625	433,732	402,440	393,761
For lenders
Net interest income	5,124	8,613	4,047	552	20	-30	-253	-1,157	-789	-921
Cost of revenue	534,593	497,374	427,154	345,598	299,714	257,295	261,097	271,383	246,694	243,185
Gross profit	382,070	329,184	276,438	219,970	205,484	168,249	163,528	162,349	155,746	150,576
Research and development	21,600	19,200	19,000	15,800	14,700	11,600	11,900	11,100	10,600	10,600
Selling, general and administrative	198,649	171,248	158,389	132,675	126,761	103,093	101,380	105,480	99,151^r	97,904^r
Operating income	183,421	157,936	118,049	87,295	78,723	65,156	62,148	56,869	56,595^r	52,672^r
Income before income taxes	188,657	166,500	121,966	87,717	78,623	64,981	61,607	35,852	54,833	49,844
Income tax expense	47,023	41,558	29,368	21,221	17,739	15,638	14,430	8,062	20,262	17,549
Net income	141,634	124,942	92,598	66,496	60,884	49,343	47,177	27,790	34,571	32,295
Earnings per share, basic	4.82	4.26	3.16	2.28	2.09	1.70	1.63	0.96	1.20	1.12
Earnings per share, diluted	4.79	4.23	3.14	2.26	2.08	1.69	1.61	0.95	1.19	1.11
Weighted average shares, basic	29,398,000	29,356,000^r	29,284,000^r	29,218	29,144	29,052	29,028	28,993	28,927^r	28,887^r
Weighted average shares, diluted	29,569,000	29,534,000^r	29,456,000^r	29,376,000^b	29,338,000^b	29,230,000^b	29,220,000^b	29,189,000^b	29,111,000^rb	29,050,000^rb

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.Share counts and per-share figures are on the newest report's basis, after the 2-for-1 split of Aug 2016.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Revenue what customers paid for what it sold

us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
us-gaap:SalesRevenueNet

Net interest income interest earned less interest paidus-gaap:InterestIncomeExpenseNet

Cost of revenue what it cost to make or buy what it soldus-gaap:CostOfGoodsAndServicesSold

Gross profit revenue less the cost of what it soldus-gaap:GrossProfit

Research and development spent on inventing what it sells nextus-gaap:ResearchAndDevelopmentExpense

Selling, general and administrative the cost of selling and of running the companyus-gaap:SellingGeneralAndAdministrativeExpense

Operating income profit from running the business, before interest and taxus-gaap:OperatingIncomeLoss

Income before income taxes profit before tax

us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

SI Assistanton BMI · research, not advice