Badger Meter Inc (BMI) - Net Assets
Based on the latest financial reports, Badger Meter Inc (BMI) has net assets worth $682.88 Million USD as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($998.17 Million) and total liabilities ($315.29 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check BMI PP&E to net assets ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $682.88 Million |
| % of Total Assets | 68.41% |
| Annual Growth Rate | 9.33% |
| 5-Year Change | 76.97% |
| 10-Year Change | 178.06% |
| Growth Volatility | 8.97 |
Badger Meter Inc - Net Assets Trend (1985–2025)
This chart illustrates how Badger Meter Inc's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Badger Meter Inc market capitalisation.
Annual Net Assets for Badger Meter Inc (1985–2025)
The table below shows the annual net assets of Badger Meter Inc from 1985 to 2025. Also explore Badger Meter Inc equity growth rate to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $713.29 Million | +17.66% |
| 2024-12-31 | $606.23 Million | +17.38% |
| 2023-12-31 | $516.48 Million | +16.74% |
| 2022-12-31 | $442.42 Million | +9.76% |
| 2021-12-31 | $403.07 Million | +11.57% |
| 2020-12-31 | $361.26 Million | +9.12% |
| 2019-12-31 | $331.07 Million | +9.08% |
| 2018-12-31 | $303.50 Million | +9.39% |
| 2017-12-31 | $277.45 Million | +8.16% |
| 2016-12-31 | $256.53 Million | +11.69% |
| 2015-12-31 | $229.68 Million | +7.16% |
| 2014-12-31 | $214.33 Million | +9.04% |
| 2013-12-31 | $196.56 Million | +14.78% |
| 2012-12-31 | $171.25 Million | -4.48% |
| 2011-12-31 | $179.28 Million | +6.47% |
| 2010-12-31 | $168.38 Million | +16.56% |
| 2009-12-31 | $144.46 Million | +30.12% |
| 2008-12-31 | $111.02 Million | +20.72% |
| 2007-12-31 | $91.97 Million | +28.06% |
| 2006-12-31 | $71.82 Million | -2.18% |
| 2005-12-31 | $73.42 Million | +14.59% |
| 2004-12-31 | $64.07 Million | +16.12% |
| 2003-12-31 | $55.17 Million | +14.71% |
| 2002-12-31 | $48.09 Million | +18.86% |
| 2001-12-31 | $40.46 Million | -8.05% |
| 2000-12-31 | $44.01 Million | +2.34% |
| 1999-12-31 | $43.00 Million | -10.04% |
| 1998-12-31 | $47.80 Million | +15.18% |
| 1997-12-31 | $41.50 Million | +13.39% |
| 1996-12-31 | $36.60 Million | +13.66% |
| 1995-12-31 | $32.20 Million | +9.52% |
| 1994-12-31 | $29.40 Million | +12.64% |
| 1993-12-31 | $26.10 Million | +4.82% |
| 1992-12-31 | $24.90 Million | -15.02% |
| 1991-12-31 | $29.30 Million | +3.90% |
| 1990-12-31 | $28.20 Million | +8.88% |
| 1989-12-31 | $25.90 Million | +7.92% |
| 1988-12-31 | $24.00 Million | +8.60% |
| 1987-12-31 | $22.10 Million | +6.76% |
| 1986-12-31 | $20.70 Million | +2.99% |
| 1985-12-31 | $20.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Badger Meter Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 3569.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $645.88 Million | 90.55% |
| Common Stock | $37.22 Million | 5.22% |
| Other Comprehensive Income | $6.47 Million | 0.91% |
| Other Components | $23.72 Million | 3.33% |
| Total Equity | $713.29 Million | 100.00% |
Badger Meter Inc Competitors by Market Cap
The table below lists competitors of Badger Meter Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ENAGAS A.A. ADR1/2/EO150
F:EG40
|
$3.66 Billion |
|
Banijay Group NV
AS:BNJ
|
$3.66 Billion |
|
Housing & Urban Development Corporation Limited
NSE:HUDCO
|
$3.66 Billion |
|
China Minsheng Banking Corp. Ltd
F:GHFH
|
$3.66 Billion |
|
CGN Power Co Ltd
F:94C
|
$3.65 Billion |
|
Orla Mining Ltd
TO:OLA
|
$3.65 Billion |
|
Fosun International Limited
F:FNI
|
$3.65 Billion |
|
WSFS Financial Corporation
NASDAQ:WSFS
|
$3.65 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Badger Meter Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 606,232,000 to 713,294,000, a change of 107,062,000 (17.7%).
- Net income of 141,634,000 contributed positively to equity growth.
- Dividend payments of 43,529,000 reduced retained earnings.
- Share repurchases of 15,002,000 reduced equity.
- Other comprehensive income increased equity by 14,380,000.
- Other factors increased equity by 9,579,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $141.63 Million | +19.86% |
| Dividends Paid | $43.53 Million | -6.1% |
| Share Repurchases | $15.00 Million | -2.1% |
| Other Comprehensive Income | $14.38 Million | +2.02% |
| Other Changes | $9.58 Million | +1.34% |
| Total Change | $- | 17.66% |
Book Value vs Market Value Analysis
This analysis compares Badger Meter Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.23x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 141.85x to 5.23x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $0.89 | $126.11 | x |
| 1986-12-31 | $0.86 | $126.11 | x |
| 1987-12-31 | $0.94 | $126.11 | x |
| 1988-12-31 | $0.99 | $126.11 | x |
| 1989-12-31 | $1.04 | $126.11 | x |
| 1990-12-31 | $1.12 | $126.11 | x |
| 1991-12-31 | $1.12 | $126.11 | x |
| 1992-12-31 | $0.91 | $126.11 | x |
| 1993-12-31 | $0.95 | $126.11 | x |
| 1994-12-31 | $1.07 | $126.11 | x |
| 1995-12-31 | $1.15 | $126.11 | x |
| 1996-12-31 | $1.25 | $126.11 | x |
| 1997-12-31 | $1.32 | $126.11 | x |
| 1998-12-31 | $1.54 | $126.11 | x |
| 1999-12-31 | $1.44 | $126.11 | x |
| 2000-12-31 | $1.56 | $126.11 | x |
| 2001-12-31 | $1.64 | $126.11 | x |
| 2002-12-31 | $1.82 | $126.11 | x |
| 2003-12-31 | $2.11 | $126.11 | x |
| 2004-12-31 | $2.36 | $126.11 | x |
| 2005-12-31 | $2.62 | $126.11 | x |
| 2006-12-31 | $2.50 | $126.11 | x |
| 2007-12-31 | $3.15 | $126.11 | x |
| 2008-12-31 | $3.74 | $126.11 | x |
| 2009-12-31 | $4.83 | $126.11 | x |
| 2010-12-31 | $5.61 | $126.11 | x |
| 2011-12-31 | $5.96 | $126.11 | x |
| 2012-12-31 | $5.95 | $126.11 | x |
| 2013-12-31 | $6.81 | $126.11 | x |
| 2014-12-31 | $7.45 | $126.11 | x |
| 2015-12-31 | $8.04 | $126.11 | x |
| 2016-12-31 | $8.82 | $126.11 | x |
| 2017-12-31 | $9.53 | $126.11 | x |
| 2018-12-31 | $10.40 | $126.11 | x |
| 2019-12-31 | $11.33 | $126.11 | x |
| 2020-12-31 | $12.36 | $126.11 | x |
| 2021-12-31 | $13.74 | $126.11 | x |
| 2022-12-31 | $15.06 | $126.11 | x |
| 2023-12-31 | $17.53 | $126.11 | x |
| 2024-12-31 | $20.53 | $126.11 | x |
| 2025-12-31 | $24.12 | $126.11 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Badger Meter Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 19.86%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.45%
- • Asset Turnover: 0.94x
- • Equity Multiplier: 1.36x
- Recent ROE (19.86%) is above the historical average (12.91%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 6.47% | 2.33% | 1.55x | 1.79x | $-710.00K |
| 1986 | 5.80% | 1.97% | 1.52x | 1.94x | $-870.00K |
| 1987 | 8.14% | 2.70% | 1.61x | 1.88x | $-410.00K |
| 1988 | 8.75% | 2.95% | 1.70x | 1.74x | $-300.00K |
| 1989 | 9.27% | 3.32% | 1.55x | 1.80x | $-190.00K |
| 1990 | 8.16% | 2.98% | 1.52x | 1.80x | $-520.00K |
| 1991 | 5.46% | 2.04% | 1.53x | 1.75x | $-1.33 Million |
| 1992 | -15.66% | -4.75% | 1.52x | 2.16x | $-6.39 Million |
| 1993 | 8.43% | 2.60% | 1.47x | 2.21x | $-410.00K |
| 1994 | 10.88% | 3.23% | 1.60x | 2.11x | $260.00K |
| 1995 | 11.49% | 3.41% | 1.80x | 1.88x | $480.00K |
| 1996 | 13.93% | 4.40% | 1.75x | 1.81x | $1.44 Million |
| 1997 | 15.66% | 4.97% | 1.59x | 1.98x | $2.35 Million |
| 1998 | 17.15% | 5.70% | 1.48x | 2.03x | $3.42 Million |
| 1999 | 22.56% | 6.43% | 1.46x | 2.40x | $5.40 Million |
| 2000 | 16.02% | 4.74% | 1.48x | 2.28x | $2.61 Million |
| 2001 | 7.82% | 2.43% | 1.40x | 2.30x | $-936.20K |
| 2002 | 15.12% | 4.35% | 1.32x | 2.63x | $2.46 Million |
| 2003 | 13.73% | 4.12% | 1.37x | 2.43x | $2.06 Million |
| 2004 | 15.04% | 4.70% | 1.43x | 2.23x | $3.23 Million |
| 2005 | 18.05% | 6.12% | 1.49x | 1.99x | $5.91 Million |
| 2006 | 10.51% | 3.29% | 1.65x | 1.94x | $366.10K |
| 2007 | 17.89% | 7.01% | 1.56x | 1.63x | $7.26 Million |
| 2008 | 22.59% | 8.97% | 1.43x | 1.76x | $13.98 Million |
| 2009 | 23.65% | 13.65% | 1.31x | 1.32x | $19.72 Million |
| 2010 | 17.02% | 10.36% | 1.28x | 1.28x | $11.82 Million |
| 2011 | 10.69% | 7.29% | 1.20x | 1.22x | $1.23 Million |
| 2012 | 16.37% | 8.77% | 1.10x | 1.70x | $10.91 Million |
| 2013 | 12.52% | 7.37% | 1.06x | 1.61x | $4.96 Million |
| 2014 | 13.85% | 8.14% | 1.07x | 1.59x | $8.24 Million |
| 2015 | 11.17% | 6.87% | 1.07x | 1.52x | $2.71 Million |
| 2016 | 12.60% | 8.20% | 1.12x | 1.37x | $6.67 Million |
| 2017 | 12.46% | 8.59% | 1.03x | 1.41x | $6.83 Million |
| 2018 | 9.16% | 6.41% | 1.10x | 1.29x | $-2.56 Million |
| 2019 | 14.25% | 11.11% | 1.01x | 1.27x | $14.07 Million |
| 2020 | 13.66% | 11.60% | 0.90x | 1.30x | $13.22 Million |
| 2021 | 15.11% | 12.05% | 0.95x | 1.32x | $20.58 Million |
| 2022 | 15.03% | 11.76% | 0.94x | 1.36x | $22.25 Million |
| 2023 | 17.93% | 13.16% | 0.98x | 1.39x | $40.95 Million |
| 2024 | 20.61% | 15.12% | 1.01x | 1.35x | $64.32 Million |
| 2025 | 19.86% | 15.45% | 0.94x | 1.36x | $70.30 Million |
Industry Comparison
This section compares Badger Meter Inc's net assets metrics with peer companies in the Scientific & Technical Instruments industry.
Industry Context
- Industry: Scientific & Technical Instruments
- Average net assets among peers: $238,558,245
- Average return on equity (ROE) among peers: -66.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Badger Meter Inc (BMI) | $682.88 Million | 6.47% | 0.46x | $3.66 Billion |
| Acorn Energy, Inc. (ACFN) | $-461.00K | 0.00% | 0.00x | $46.38 Million |
| Ainos Inc (AIMD) | $-4.75 Million | 0.00% | 0.00x | $10.12 Million |
| Arrive AI Inc. (ARAI) | $2.48 Million | -518.11% | 3.42x | $12.26 Million |
| Arbe Robotics Ltd (ARBE) | $40.82 Million | -113.73% | 0.83x | $88.13 Million |
| Astrotech Corp (ASTC) | $96.40 Million | 9.96% | 1.29x | $4.87 Million |
| Cognex Corporation (CGNX) | $1.50 Billion | 7.53% | 0.34x | $9.95 Billion |
| Coherent Inc (COHR) | $14.20 Million | 7.75% | 0.24x | $52.14 Billion |
| Electro-Sensors Inc (ELSE) | $10.89 Million | 10.99% | 0.20x | $26.95 Million |
| ESCO Technologies Inc (ESE) | $482.70 Million | -0.46% | 0.35x | $6.74 Billion |
About Badger Meter Inc
Badger Meter, Inc. manufactures and markets flow measurement, quality, control, and communication solutions worldwide. The company offers Utility water smart metering solutions and software technologies and services to municipal water utility market. It also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids, including wat… Read more