Badger Meter - Public Comps and Valuation Multiples

Badger Meter Overview

About Badger Meter

Badger Meter is a provider of water management solutions. The company’s solutions encompass measurement and control hardware, connectivity and communication, data visualization and software. Badger Meter has global operations, with the vast majority of revenue derived from the US.

Founded

1905

HQ

Employees

2.2K+

Website

badgermeter.com

Sectors

Sensors & Instruments
Energy Services
DeepTech
Industry 4.0

Financials

LTM Revenue $921M

LTM EBITDA $217M

EV

$5.1B

Valuation Multiples

Multiples.vc

Valuation Multiples for 15K+ Public Comps

Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.

Browse Valuation Multiples

Badger Meter Financials

As of November 2025, Badger Meter reported last 12-month revenue of $921M and EBITDA of $217M.

In the same period, Badger Meter generated $380M in LTM gross profit and $140M in net income.

See Badger Meter valuation multiples based on analyst estimates

Badger Meter P&L

In the most recent fiscal year, Badger Meter reported revenue of $827M and EBITDA of $190M.

Badger Meter expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Badger Meter valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$921M	XXX	$827M	XXX	XXX	XXX
Gross Profit	$380M	XXX	$329M	XXX	XXX	XXX
Gross Margin	41%	XXX	40%	XXX	XXX	XXX
EBITDA	$217M	XXX	$190M	XXX	XXX	XXX
EBITDA Margin	24%	XXX	23%	XXX	XXX	XXX
EBIT	$180M	XXX	$158M	XXX	XXX	XXX
EBIT Margin	20%	XXX	19%	XXX	XXX	XXX
Net Profit	$140M	XXX	$125M	XXX	XXX	XXX
Net Margin	15%	XXX	15%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

.seo-only-financials-wrapper { position: static; left: auto; width: auto; height: auto; overflow: visible; }

Financial performance metrics for Badger Meter including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $921M. EBITDA for the last twelve months was $217M. In the most recent fiscal year, Badger Meter achieved $827M in revenue and $190M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$921M	Analyst estimates available to subscribers	$827M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$380M	Analyst estimates available to subscribers	$329M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	41.3% gross margin	Analyst estimates available to subscribers	39.8% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$217M	Analyst estimates available to subscribers	$190M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	23.5% EBITDA margin	Analyst estimates available to subscribers	23.0% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$180M	Analyst estimates available to subscribers	$158M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	19.6% EBIT margin	Analyst estimates available to subscribers	19.1% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$140M	Analyst estimates available to subscribers	$125M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	15.2% net profit margin	Analyst estimates available to subscribers	15.1% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Badger Meter

This financial data table provides comprehensive performance metrics for Badger Meter, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Badger Meter generated $921M in revenue over the last twelve months.
The company achieved $217M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $380M.
Net income over the last twelve months reached $140M.

Fiscal Year Performance

In the most recent fiscal year, Badger Meter reported $827M in total revenue.
Fiscal year EBITDA was $190M.
The company maintained a gross profit margin of 39.8% in the most recent fiscal year.
EBITDA margin for the fiscal year was 23.0%.
Net profit margin reached 15.1% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Badger Meter. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Badger Meter Stock Performance

Badger Meter has current market cap of $5.3B, and EV of $5.1B.

Market Cap Evolution

Badger Meter Stock Data

As of December 5, 2025, Badger Meter's stock price is $178.

See Badger Meter trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$5.1B	$5.3B	XXX	XXX	XXX	XXX	$4.79

Benchmark Trading Valuation Multiples by Industry

Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more

Start Free Trial

Badger Meter Valuation Multiples

Badger Meter's trades at 6.1x EV/Revenue multiple, and 26.6x EV/EBITDA.

See valuation multiples for Badger Meter and 15K+ public comps

Badger Meter Financial Valuation Multiples

As of December 5, 2025, Badger Meter has market cap of $5.3B and EV of $5.1B.

Equity research analysts estimate Badger Meter's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Badger Meter has a P/E ratio of 37.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$5.3B	XXX	$5.3B	XXX	XXX	XXX
EV (current)	$5.1B	XXX	$5.1B	XXX	XXX	XXX
EV/Revenue	5.5x	XXX	6.1x	XXX	XXX	XXX
EV/EBITDA	23.3x	XXX	26.6x	XXX	XXX	XXX
EV/EBIT	28.1x	XXX	32.0x	XXX	XXX	XXX
EV/Gross Profit	13.3x	XXX	n/a	XXX	XXX	XXX
P/E	37.5x	XXX	42.1x	XXX	XXX	XXX
EV/FCF	33.5x	XXX	35.5x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Get Badger Meter Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.

Start Free Trial

Badger Meter Margins & Growth Rates

Badger Meter's last 12 month revenue growth is 9%

Badger Meter's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.

Badger Meter's rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Badger Meter's rule of X is 45% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

See operational valuation multiples for Badger Meter and other 15K+ public comps

Badger Meter Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	9%	XXX	10%	XXX	XXX	XXX
EBITDA Margin	24%	XXX	23%	XXX	XXX	XXX
EBITDA Growth	9%	XXX	22%	XXX	XXX	XXX
Rule of 40	29%	XXX	32%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	45%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	21%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 220+ Verticals

Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!

Digital Therapeutics

Pharma Analytics

Private Equity

ERP Software

Developer Tools

Consumer SaaS

Streaming Platforms

Explore Valuation Multiples by Industry

Start Free Trial