TICKER BMI
ISIN US0565251081
Market cap. USD
4,474,397,457
Shs outstanding 29,469,785
Badger Meter, Inc. manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, oil, 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. Its flow instrumentation products are used in water/wastewater, heating, ventilating and air conditioning, and corporate sustainability markets. In addition, the company offers ORION Migratable for automatic meter reading; ORION (SE) for traditional fixed network applications; and ORION Cellular for infrastructure-free fixed network meter reading solution, as well as BEACON advanced metering analytics, a secure cloud-hosted software suite that establishes alerts for specific conditions and allows consumer engagement tools that permit end water customers to view and manage their water usage activity. It also serves water utilities, industrial, and other industries. The company sells its products directly, as well as through resellers and representatives. Badger Meter, Inc. was incorporated in 1905 and is headquartered in Milwaukee, Wisconsin.

Strategy:

Return at exit: Live
Growth Leader at Attractive Entry Point
• BMI stands out as an ML-selected buy opportunity following a 30% price pullback despite strong fundamentals, creating an attractive entry point with significant upside potential to the $185 analyst target price. • Impressive growth trajectory evidenced by 10.9% revenue growth, 14.75% EBITDA growth, and 17.65% dividend growth, supported by expanding margins (operating profit at 20%, up 90 basis points). • Recent award of the massive Puerto Rico PRASA project (1.6 million service connections) positions BMI for accelerated growth in H2 2026, with management maintaining a high single-digit growth outlook over a five-year horizon. • Strong recurring revenue model with 85% replacement-based business and growing SaaS revenue (+27% YoY to $74 million) provides stability while expansion into sewer monitoring through the SmartCover acquisition broadens market opportunities.