Filing Flows › Badger Meter (BMI) › How it makes money
How Badger Meter (BMI) makes money
Badger Meter (BMI) made $236M of revenue in the third quarter 2026 (Q3 2026), +0.1% from a year earlier. Of every dollar of revenue, 42¢ was left as gross profit, 20¢ was left as operating profit, 15¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $236M | 100.0% |
| Cost of revenue | $137M | 58.1% |
| Gross profit | $98.8M | 41.9% |
| Operating expenses | $51.1M | 21.7% |
| Operating profit | $47.7M | 20.2% |
| Income tax | $12.1M | 5.1% |
| Net earnings | $35.9M | 15.2% |
| Operating cash flow | $43.3M | 18.3% |
| Free cash flow | $40.3M | 17.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $236M | +0.1% |
| Q2 2026 | $222M | -7% |
| Q1 2026 | $202M | -9% |
| Q4 2025 | $221M | +8% |
| Q3 2025 | $236M | +13% |
| Q2 2025 | $238M | +10% |
| Q1 2025 | $222M | +13% |
From Badger Meter's 10-Q filed Oct 23, 2026 (on EDGAR).
Questions
How does Badger Meter make money?
Badger Meter (BMI) made $236M of revenue in the third quarter 2026 (Q3 2026), +0.1% from a year earlier. Of every dollar of revenue, 42¢ was left as gross profit, 20¢ was left as operating profit, 15¢ was left as net earnings.
What is Badger Meter's profit margin?
Net earnings were $35.9M, 15.2% of revenue, in the third quarter 2026; the operating margin was 20.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.