0001193125-26-054739
SEC filingBadger Meter, Inc. (BMI) filed its 10-K for the fiscal year ended December 31, 2025, reporting robust financial performance. The company achieved net sales of $916.7 million and net earnings of $141.6 million, resulting in diluted earnings per share of $5.00. Gross margin stood at $382.1 million, while operating earnings reached $183.4 million. The balance sheet reflects a strong liquidity position with $226.0 million in cash and cash equivalents and total current assets of $507.1 million. Total shareholders’ equity increased to $713.3 million. Operationally, the company generated $183.7 million in net cash provided by operating activities. However, significant cash outflows were recorded in investing activities, totaling -$198.1 million, primarily driven by $184.0 million in acquisitions net of cash acquired. Financing activities utilized $58.0 million, largely due to $43.5 million in dividends paid and $15.0 million in share repurchases. The filing indicates a strategic pivot towards growth through acquisition, impacting cash reserves but expanding asset base.
For the fiscal year ended December 31, 2025, Badger Meter, Inc. reported net sales of $916.7 million. The cost of sales was $534.6 million, resulting in a gross margin of $382.1 million. Operating earnings were reported at $183.4 million, following $198.6 million in selling, engineering, and administration expenses. The company recognized $5.1 million in net interest income, contributing to earnings before income taxes of $188.7 million. After a provision for income taxes of $47.0 million, net earnings settled at $141.6 million. The diluted earnings per share (EPS) stood at $5.00, based on 29.6 million diluted weighted average shares outstanding. The effective tax rate for the period was approximately 24.9%.
The filing discloses consolidated net sales of $916.7 million. The document content provided does not contain specific segment revenue breakdowns, geographic mix details, or distinct product line revenue figures. Consequently, a granular analysis of specific growth drivers by segment or region cannot be determined from the provided text. Revenue generation appears consolidated under the primary business operations of flow measurement and control technologies. Without comparative prior-year figures in the provided data, year-over-year growth rates cannot be calculated.
Badger Meter demonstrated solid profitability metrics for FY 2025. The gross margin percentage was approximately 41.7% ($382.1M / $916.7M). Operating margin was reported at 20.0% ($183.4M / $916.7M). Selling, engineering, and administration expenses represented 21.7% of total revenue. The net profit margin stood at 15.5% ($141.6M / $916.7M). The cost structure remained controlled, allowing significant value retention through to the bottom line. Interest income provided a modest boost to pre-tax earnings, while other pension and postretirement costs had an immaterial impact.
The company maintains a robust liquidity position. Cash and cash equivalents totaled $226.0 million at period end. Net cash provided by operating activities was $183.7 million. Capital expenditures for property, plant, and equipment were $14.0 million, resulting in a calculated free cash flow of approximately $169.7 million. Investing activities utilized $198.1 million, driven by $184.0 million in acquisitions. Financing activities used $58.0 million, comprising $43.5 million in dividends and $15.0 million in share repurchases. Total assets were $973.6 million, supported by $713.3 million in shareholders’ equity. Current liabilities of $150.7 million were well-covered by current assets of $507.1 million.
The provided document text does not contain specific forward-looking statements, management guidance, or strategic priorities regarding future fiscal years. The significant investment in acquisitions ($184.0M) suggests a strategic focus on inorganic growth and expansion. The consistent dividend payment and share repurchase activity indicate confidence in ongoing cash flow generation. No specific risk factors beyond standard financial reporting were detailed in the extracted text.