Filing Flows › Badger Meter (BMI) › Q3 2026 › vs Q3 2025
Badger Meter (BMI) Q3 2026 vs Q3 2025 (year over year)
Badger Meter's revenue rose $287K (+0.1%) from $236M in Q3 2025 to $236M in Q3 2026. Gross margin 41.9% against 40.7% (+1.2 pts).
Badger Meter, Q3 2026: revenue $236M (+0.1% year over year), operating margin 20.2%, net earnings $35.9M, operating cash flow $43.3M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 41.9% | 40.7% | +1.2 pts |
| Operating margin | 20.2% | 19.6% | +0.7 pts |
| Net margin | 15.2% | 14.9% | +0.3 pts |
| Free cash flow margin | 17.1% | 20.5% | -3.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $236M | $236M | $287K | +0.1% |
| Gross profit | $98.8M | $95.8M | $3.0M | +3% |
| Cost of revenue | $137M | $140M | −$2.7M | -2% |
| Operating profit | $47.7M | $46.1M | $1.7M | +4% |
| Operating expenses | $51.1M | $49.8M | $1.4M | +3% |
| Pre-tax earnings | $48.0M | $47.4M | $516K | +1% |
| Net earnings | $35.9M | $35.1M | $826K | +2% |
| Income tax | $12.1M | $12.4M | −$310K | -3% |
| Depreciation | $2.6M | $2.6M | $29K | +1% |
| Share-based compensation | $2.5M | $2.0M | $433K | +21% |
| Working capital & other | $2.3M | $11.6M | −$9.3M | -80% |
| Operating cash flow | $43.3M | $51.3M | −$8.0M | -16% |
| Free cash flow (OCF − capex) | $40.3M | $48.2M | −$7.9M | -16% |
| Capital expenditures | $3.0M | $3.1M | −$97K | -3% |
Questions
How much did Badger Meter's revenue grow year over year in Q3 2026?
Badger Meter's revenue rose $287K (+0.1%) from $236M in Q3 2025 to $236M in Q3 2026. Gross margin 41.9% against 40.7% (+1.2 pts).