BMI is the ticker symbol for BADGER METER INC, a publicly traded Technology sector company listed on NYSE. 13F Pro tracks BMI with AI-powered analysis, an AI quality score, SEC EDGAR financials, insider transactions, and institutional 13F holdings — all sourced directly from public SEC filings.

Is BMI a good stock to buy?

13F Pro's AI ranking engine scores BMI at 59.0/100, ranked #962 of 2,925 stocks on a composite quality score built from its SEC filings, covering profitability, growth, balance sheet strength, and free cash flow. The full AI verdict and bull/bear case for BMI is available at https://13fpro.ai/company/BMI. Not investment advice — review the underlying SEC filings before making any trade.

Where does 13F Pro source BMI data?

All BADGER METER INC fundamentals and ownership data come directly from SEC EDGAR. BADGER METER INC files with the SEC under CIK 9092. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

BADGER METER INC BMI

NYSEMid CapTechnology

13F Pro quality score

Rank #962 of 2,925TOP 50%

Why it scores 59 Technology peers →

Rankings refresh quarterly once 80% of peers have filed. Next update: ~Nov 14, 2026.

Revenue

$235.94M

Quarter to Sep 30

Net income

$35.90M

Quarter to Sep 30

Free cash flow

$40.28M

Quarter to Sep 30

Operating margin

20.2%

Quarter to Sep 30

Top Institutional Holders

as of Q2 2026

$4.84B total

BlackRock, Inc.

$725.93M-1.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

$371.67M+2.2%

STATE STREET CORP

$245.04M+8.3%

VANGUARD CAPITAL MANAGEMENT LLC

$195.46M+1.2%

GEODE CAPITAL MANAGEMENT, LLC

$149.65M+7.4%

Impax Asset Management Group plc

$140.32MNew

FIRST TRUST ADVISORS LP

$114.53M+37.7%

MORGAN STANLEY

$109.78M+11.6%

Boston Trust Walden Corp

$108.16M+37.5%

UBS Group AG

$93.39M-26.7%

Amundi

$87.60M+28.5%

Pictet Asset Management Holding SA

$85.22M+45.7%

DIMENSIONAL FUND ADVISORS LP

$76.77M-4.2%

Invesco Ltd.

$74.98M-35.0%

Neuberger Berman Group LLC

$74.12M+44.1%

BANK OF AMERICA CORP /DE/

$68.34M+57.3%

JPMORGAN CHASE & CO

$60.46M-8.6%

NORTHERN TRUST CORP

$56.39M+14.3%

NORGES BANK

$55.54M--

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

$49.77M+5.0%

Van Berkom & Associates Inc.

$49.02MNew

MARSHALL WACE, LLP

$46.32M-38.4%

GOLDMAN SACHS GROUP INC

$46.27M-32.9%

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

$41.65M+6.4%

PRICE T ROWE ASSOCIATES INC /MD/

$41.09M+6.2%

See all 486 institutional holders →

What's Driving BMI's Business? Latest 10-Q Breakdown

25/25 datapoints verified

AI-extracted from the 10-Q filed 2026-10-23 — Q3 FY2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Badger Meter's Q3 2026 net sales were flat at $235.9M (+0.1% YoY) while operating margin expanded to 20.2% on higher gross margin, partly offset by UDlive-driven SEA expense growth.

Biggest Revenue Drivers

Utility Water$208.9M-0.1% YoY

Uneven AMI project pacing partially offset by increased BEACON SaaS revenue and $5.6M from UDlive acquisition

Flow Instrumentation$27.0M+2.1% YoY

Strong demand across the water-focused end markets

Biggest Revenue Drivers

Total revenue: $235.9M+0.1% YoY

Utility Water$208.9M-0.1% YoY

Uneven AMI project pacing partially offset by increased BEACON SaaS revenue and $5.6M from UDlive acquisition

Flow Instrumentation$27.0M+2.1% YoY

Strong demand across the water-focused end markets

Largest Expense Items

Cost of sales$137.1M-2.0% YoY

Gross margin rose to 41.9% of sales from 40.7%, driven by favorable product mix including increased SaaS revenue and ultrasonic meter volume

Selling, engineering and administration$51.1M+2.7% YoY

Increase mainly from inclusion of UDlive including acquired intangible amortization, partially offset by lower incentive compensation and cost controls

Margins: Gross margin improved to 41.9% of sales from 40.7% on favorable product mix, including SaaS and ultrasonic meters. Operating margin rose to 20.2% from 19.6%, though SEA expense rose to 21.7% of sales.

Watch Items from the Filing

Nine-month net sales fell 5.1% to $660.5M, with utility water down 5.9% due to uneven AMI project pacing.
Inventories rose $14.5M since year-end to $166.4M on strategic purchasing and timing; primary working capital increased to 23.6% of sales.
Company warns AI-driven demand for electronic components has caused longer lead times, reduced availability and higher procurement costs.
UDlive acquisition carries an earn-out of up to $50.0M, with a $12.0M fair value liability recorded at September 30, 2026.
Company repurchased $119.0M of common stock year-to-date, leaving $34.7M available under the $150M program; cash fell to $67.9M from $226.0M at year-end.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →

Key Metrics

Revenue

Q3 2026

EDGAR

Net Income

Q3 2026

EDGAR

EPS (Diluted)

Q3 2026

EDGAR

Operating Margin

Q3 2026

EDGAR

ROIC

Q3 2026

EDGAR

Free Cash Flow

Q3 2026

EDGAR

Financial Trends

Revenue & Net Income

13fpro.ai/company/BMI

Earnings Per Share

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BADGER METER INC reported revenue, net income and margins by fiscal period, from SEC filings.
Period	Form	Revenue	Net income	Op. marginOperating margin
FY 2025	10-K	$916.7M	$141.6M	20.0%
FY 2024	10-K	$826.6M	$124.9M	19.1%
FY 2023	10-K	$703.6M	$92.6M	16.8%
FY 2022	10-K	$565.6M	$66.5M	15.4%
FY 2021	10-K	$505.2M	$60.9M	15.6%
FY 2020	10-K	$425.5M	$49.3M	15.3%

About BADGER METER INC (BMI): stock profile, AI score and financials

BADGER METER INC (BMI) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores BMI at 59.0/100 on a composite quality score built from its SEC filings, placing it at rank #962 of 2,925 stocks — the top half of the AI-ranked universe. BMI scores in the top quartile across balance sheet strength (90.7), institutional flow (80.0). Based on the latest XBRL financial filings (Q3 2026), BADGER METER INC reports quarterly revenue of $235.9M, net income of $35.9M, an operating margin of 20.2%. Top institutional holders of BMI by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. BMI trades on the NYSE exchange and files with the SEC under CIK 9092. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BMI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for BADGER METER INC directly from SEC EDGAR.

Financials through the period ended Sep 30, 2026SEC EDGAR: CIK 9092 →

BADGER METER INC BMI

Top Institutional Holders

What's Driving BMI's Business? Latest 10-Q Breakdown

Biggest Revenue Drivers

Biggest Revenue Drivers

Largest Expense Items

Watch Items from the Filing

Key Metrics

Financial Trends

Revenue & Net Income

Earnings Per Share

BMI key financials by period

BMI insiders

Congress trading in BMI

About BADGER METER INC (BMI): stock profile, AI score and financials

BADGER METER INC BMI

Top Institutional Holders

What's Driving BMI's Business? Latest 10-Q Breakdown

Biggest Revenue Drivers

Key Metrics

Financial Trends

Revenue & Net Income

Earnings Per Share

BMI key financials by period

Companies similar to BMI

BMI insiders

Congress trading in BMI

About BADGER METER INC (BMI): stock profile, AI score and financials