Badger Meter, Inc. (BMI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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BMI Revenue Growth
Revenue Breakdown
BMI's revenue distribution by segment and geography
By Geography
BMI Revenue Analysis (2014–2025)
As of May 8, 2026, Badger Meter, Inc. (BMI) generated trailing twelve-month (TTM) revenue of $916.7 million, reflecting solid growth of +7.6% year-over-year. The most recent quarter (Q4 2025) recorded $220.7 million in revenue, down 6.3% sequentially.
Looking at the longer-term picture, BMI's 5-year compound annual growth rate (CAGR) stands at +16.6%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $916.7 million in 2025, representing a new all-time high.
When compared to Technology sector peers including ITRI (-4.0% YoY), FELE (+8.0% YoY), and ERII (-10.0% YoY), BMI has underperformed the peer group in terms of revenue growth. Compare BMI vs ITRI →
BMI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| BMICurrent | $917M | +7.6% | +16.6% | 20.0% | |
 ITRI | $2.4B | -4.0% | +1.7% | 13.5% | |
 FELE | $2.1B | +8.0% | +11.3% | 12.7% | |
 ERII | $135M | -10.0% | +7.9% | 18.2% | |
 MWA | $1.4B | +6.6% | +8.2% | 18.2% | |
 XYL | $9.0B | +5.7% | +13.1% | 13.5% |
BMI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $916.7M | +10.9% | $382.1M | 41.7% | $183.4M | 20.0% |
| 2024 | $826.6M | +17.5% | $329.2M | 39.8% | $157.9M | 19.1% |
| 2023 | $703.6M | +24.4% | $276.4M | 39.3% | $118.0M | 16.8% |
| 2022 | $565.6M | +11.9% | $220.0M | 38.9% | $87.3M | 15.4% |
| 2021 | $505.2M | +18.7% | $205.5M | 40.7% | $78.7M | 15.6% |
| 2020 | $425.5M | +0.2% | $168.2M | 39.5% | $65.2M | 15.3% |
| 2019 | $424.6M | -2.1% | $163.5M | 38.5% | $62.1M | 14.6% |
| 2018 | $433.7M | +7.8% | $162.3M | 37.4% | $56.9M | 13.1% |
| 2017 | $402.4M | +2.2% | $155.7M | 38.7% | $55.6M | 13.8% |
| 2016 | $393.8M | +4.3% | $150.6M | 38.2% | $50.8M | 12.9% |
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Start ComparisonBMI — Frequently Asked Questions
Quick answers to the most common questions about buying BMI stock.
Is BMI's revenue growth accelerating or slowing?
BMI maintains +7.6% revenue growth, in line with its 5-year CAGR of +16.6%. TTM revenue stands at $917M. Growth rate remains consistent with historical average.
What is BMI's long-term revenue growth rate?
Badger Meter, Inc.'s 5-year revenue CAGR of +16.6% reflects the sustained expansion pattern. Current YoY growth of +7.6% is near this long-term average.
How is BMI's revenue distributed by segment?
BMI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.