BADGER METER, INC.
At today's price, BADGER METER, INC. (BMI) is priced for +24.8% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
Badger Meter runs a debt-free balance sheet. Gross debt is zero, net cash is about $205 million, and the company earns an 18.9% return on equity. That fortress funding is the cleanest part of the story. The price is the demanding part. At about $135 the market pays roughly 22 times operating income, which implies operating profit growing about 24.5% a year for five years. Only the growth-DCF reaches the price; the asset, earnings-power, and peer-multiple frames all read the stock as richly valu
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457 institutional managers reported holding BMI in 13F filings for the quarter ended 2026-03-31. 57 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 4.3M shares were sold short as of the 2026-06-15 count, about 15% of shares outstanding (10.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
BMI's share count is about flat over the past five years ($38.64M of repurchases, offset by issuance). It pays a dividend, and has paid one every year in our records (16 and counting), raised 15 years straight; the current rate is $1.48 a share annually. Cash returned over the past three years: $106.92M in dividends and $38.21M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at BMI over the trailing three years: 2026: 2 buys totaling $754k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BMI's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-26 | +12.6% | -6.7% |
| 2023-10-25 | +1.6% | +13.7% |
| 2024-02-17 | -5.6% | +12.3% |
| 2024-04-20 | +15.5% | +6.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BMI's latest 8-K filings: 2026-06-11 (items 1.01, 1.02, 2.03, 9.01); 2026-05-21 (items 7.01, 9.01); 2026-04-28 (items 5.03, 5.07, 8.01, 9.01); 2026-04-17 (items 2.02, 9.01); 2026-01-28 (items 2.02).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.