Badger Meter Inc (BMI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Badger Meter Inc $122, price $133, upside -8.5%, quality 75 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Badger Meter Inc for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $71.41 – $251.52 · fair‑value band $85.22 – $169.85 · the $133.00 price screens above the $121.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
Follow Badger Meter in your weekly email
Every Wednesday you see whether Badger Meter is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show more
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 water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives. In addition, the company offers ORION Cellular endpoints to power network as a service; ORION mobile read endpoints support for deploying AMR solution; radio products; hardware, instruments, and sensors, and related software, to enhance connected data to a water utility's operation; water quality monitoring solutions, including optical sensing and electrochemical instruments; and high frequency pressure and leak detection sensors to aid in burst pipe and leak events; as well as BEACON, a secure cloud-hosted software suite that establishes alerts for specific conditions and allows consumer engagement tools that permit end water user to view and manage their water usage activity. Its flow instrumentation products are used in water/wastewater, heating, ventilating and air conditioning, and corporate sustainability markets. The company serves water utilities, commercial, and industrial industries; and provides training, project management, technical support, and other collaborative services for customers. It sells its products and software to employees, resellers, and representatives. The company was incorporated in 1905 and is based in Milwaukee, Wisconsin.
Stock analysis
Badger Meter Inc (BMI) currently trades at $133.00, while our model-based Fair Value estimate is $121.75, implying the stock looks roughly 9.2% fairly valued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of $121.75 per share, and 5 of the 26 models we run sit above the $133.00 price.
Bear case: the Asset-Based group reads lowest at $16.37, and 21 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $85.22 (bear) to $169.85 (bull), the price of $133.00 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 75/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Badger Meter Inc reported revenue of $917M in FY2025 versus $505M in FY2021, a compound +16.1%/yr. Reported net income was $142M in FY2025, compounding +23.5%/yr from FY2021.
Key figures
Market cap $4.4B · P/E ratio 30.5 · P/S ratio 4.71 · EPS (TTM) $4.36 · Dividend yield 1.2% · Net margin 15.5% · Return on equity 19.6% · Return on assets (EBIT) 16.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −35% fair-value upside, at −8%, BMI screens cheaper than that median.
Fair Value models
Bear $85.22Fair Value $121.75Bull $169.85
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.06 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.6%
Start year 2020 (pandemic). Over 10 years: +9.3% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.2%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+24.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.3%
Dividend (yield on the price)1.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.23% vs 17%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.15% → 20%
2025 sits 52% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +6.4% a year for the price and +3.3% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Scientific & Technical Instruments · 160 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Badger Meter Inc Fair Value". https://www.fairvalue-calculator.com/stock/BMI
Frequently asked questions
Is Badger Meter Inc (BMI) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $121.75 versus a price of $133.00, about −8% upside (fairly valued).
What is the fair value of BMI?
Our model-based fair value for Badger Meter Inc is $121.75 (as of Sep 23, 2026), built from audited fundamentals. The current price: $133.00.
What is the quality score of BMI?
Badger Meter Inc has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Badger Meter Inc (BMI)?
Our model-based price target is the fair value of $121.75 (as of Sep 23, 2026) from 26 valuation models. Cautious scenario $85.22, optimistic scenario $169.85. It is a calculation from audited fundamentals, not an analyst target.
What is the Badger Meter Inc stock forecast for 2026?
Our models put fair value at $121.75, about −8% upside versus a price of $133.00 (fairly valued). Cautious scenario $85.22, optimistic scenario $169.85. The calculation is refreshed regularly with new filings.
What is the revenue of Badger Meter Inc (BMI)?
Badger Meter Inc reported trailing-twelve-month revenue of about $897M (latest available figure, as of Sep 23, 2026).
Does Badger Meter Inc pay a dividend?
Badger Meter Inc currently shows a dividend yield of about 1.16% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Badger Meter Inc (BMI)?
For today's price to be fair in a discounted-cash-flow model, Badger Meter Inc would have to grow free cash flow by +8.9 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.6 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of BMI use?
Our models discount Badger Meter Inc at 8.9 %: a base by market capitalisation (mid), damped by beta 0.64, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Badger Meter Inc that is +8.9 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Badger Meter Inc (BMI) delivered so far?
Over the past 5 years revenue at Badger Meter Inc grew +16.6 % a year. The price currently implies +8.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Badger Meter Inc (BMI) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Badger Meter Inc (+8.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Badger Meter Inc (BMI)?
The free-cash-flow yield on the price is 4.31 %: that much free cash flow Badger Meter Inc produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Badger Meter Inc (BMI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Badger Meter Inc it is $121.75 per share (as of Sep 23, 2026), against a price of $133.00. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Badger Meter Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, BMI trades above its calculated fair value: price $133.00, fair value $121.75, a gap of about −8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BMI?
No. The price is what the market pays today ($133.00); the fair value is what the company's own numbers justify ($121.75). For Badger Meter Inc the two are $11.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is Badger Meter Inc worth?
The market values Badger Meter Inc at about $4.4B (market capitalisation, as of Sep 23, 2026). Per share that is $133.00; our models calculate a fair value of $121.75 per share.
What do the bullish and bearish scenarios say about BMI?
Our models span a range for Badger Meter Inc: cautious scenario $85.22, base $121.75, optimistic $169.85 per share (as of Sep 23, 2026, price $133.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BMI?
Badger Meter Inc trades at a price-to-earnings ratio of 30.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $121.75 is built from several models across several years. Other multiples: PEG 3.8, P/B 6.1, P/S 4.9, EV/EBITDA 20.6.
What is the PEG ratio of BMI?
The PEG ratio of Badger Meter Inc is 3.78 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Badger Meter Inc (BMI)?
Balance-sheet figures for Badger Meter Inc (as of Sep 23, 2026): return on equity 19.6%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is BMI from its 52-week high?
Badger Meter Inc trades at $133.00, about 29% below its 52-week high of $186.32 and 18% above the low of $113.03 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $121.75 is for.
Which stocks are comparable to Badger Meter Inc?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Teledyne Technologies Incorporated, Chroma ATE Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Badger Meter Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $133.00, calculated fair value $121.75 (−8%), Quality Score 75/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BMI calculated?
We run Badger Meter Inc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $121.75, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Badger Meter Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Badger Meter Inc (BMI)?
The closing price on Sep 23, 2026 was $133.00. Our model-based fair value is $121.75, about −8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Badger Meter Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($85.22 to $169.85) leaves room in how you read the outcome.
Where does the earnings growth of Badger Meter Inc (BMI) come from?
Earnings per share at Badger Meter Inc grew +16.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.6 %, EBIT margin +4.9 %, tax rate +1.7 %, residual (interest, one-offs) +0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Badger Meter Inc
How large is the market capitalisation of Badger Meter Inc (BMI)?
The market capitalisation of Badger Meter Inc is $4.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Badger Meter Inc (BMI)?
The price-to-sales ratio of Badger Meter Inc is 4.71 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Badger Meter Inc (BMI)?
Earnings per share at Badger Meter Inc are $4.36 (price ÷ EPS = P/E 30.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Badger Meter Inc (BMI)?
The dividend yield of Badger Meter Inc is 1.2% (payout 35.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Badger Meter Inc (BMI)?
The net margin of Badger Meter Inc is 15.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Badger Meter Inc (BMI)?
The return on equity (ROE) of Badger Meter Inc is 19.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Badger Meter Inc (BMI)?
On an EBIT basis the return on assets of Badger Meter Inc is 16.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Badger Meter Inc (BMI)?
The operating margin of Badger Meter Inc is 17.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Badger Meter Inc (BMI)?
Revenue at Badger Meter Inc is growing −9.0% versus a year earlier (3y avg +17.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Badger Meter Inc (BMI)?
Earnings per share at Badger Meter Inc are growing −28.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Badger Meter Inc (BMI) hold?
Badger Meter Inc holds more cash than debt, $226M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Badger Meter Inc in the live analysis
One click puts Badger Meter Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Broad data
Sep 23, 2026