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Badger Meter, Inc.
$171.68UnclearTarget $176.23Report: Jan 30, 2026Technology • Hardware, Equipment & Parts • Mature Compounder

Price History

Pelican View
Current$171.68+2.6%
Rec: UnclearConviction: Medium
Entry Target
$135.56
(21% below current)
Fair Value
$176.23
(3% above current)
Stop Loss
$122.46
(29% below current)
Position Size
Starter
Time Horizon
Long-Term

Key Metrics

Market Data
52 Week High$256.08
52 Week Low$139.14
Avg. 3 Month Volume302K
Efficiency
LTM Gross MarginN/A
LTM EBITDA MarginN/A
LTM EBIT MarginN/A
LTM Operating MarginN/A
LTM ROAN/A
LTM ROEN/A
LTM ROICN/A
LTM ROCEN/A
Capital Structure
Market Cap (MM)$0
Enterprise Value (MM)$0
Shares OutstandingN/A
Total Debt (MM)N/A
Cash & Equivalents (MM)N/A
LTM Net Debt (MM)N/A
LTM Net Debt/EBITDAN/A
Growth
TTM Rev. GrowthN/A
Last 3-Yr Rev. CAGRN/A
Last 3-Yr EBITDA CAGRN/A
Last 3-Yr EPS CAGRN/A
Valuation
Street Target Price$180.71
LTM EV/RevenueN/A
LTM EV/Gross ProfitN/A
LTM EV/EBITN/A
LTM EV/EBITDAN/A
LTM P/EN/A
LTM EV/FCFN/A
LTM P/FCFN/A
LTM P/TBN/A
LTM P/BN/A
Dividend YieldN/A
Payout RatioN/A
About the Company

Badger Meter, Inc. is a leading innovator, manufacturer, and marketer of products incorporating flow measurement, quality, control, and other system solutions serving markets worldwide. With more than a century of water technology innovation, the Company is a global provider of industry-leading water management solutions, with nearly 95% of net sales derived from water-related applications. The Company's offerings, marketed as BlueEdge™, are comprised of a suite of tailorable solutions that connect water management technology, software, and support services to deliver insights enabling proactive management of water across the water cycle.

Revenue Generation

The Company generates revenue through the sale of measurement and control hardware, connectivity and communication solutions, data visualization and software-delivered actionable insights, and ongoing support and expertise. The Company's solutions fall into two product lines: (1) Utility Water: sales of meters, water quality sensors, other hardware, communication, and software and related technologies to water utilities; and (2) Flow Instrumentation: sales of meters, other sensing instruments, valves, software, and other solutions to commercial and industrial customers, including water-related applications. The largest geographic market is North America, primarily the United States. Revenue is recognized primarily at a point in time upon transfer of control of products to customers.

Investment Thesis
Executive SummaryBadger Meter is successfully pivoting to a software-embedded water technology platform, evidenced by 12.1% TTM revenue growth and 19.9% operating margins. However, the market debates whether the current 36.5x P/E multiple is justified by this transition or if it ignores the risk of AMI market saturation and the signal of heavy insider selling. We conclude that while the business is high-quality, the current valuation offers no margin of safety, especially given that insiders sold 5.6M of stock at prices 22% above current levels.

Recent Activity

2026-01-07-8.33%
Firm: Barclays Analyst: William Grippin Price Target: $157.00 Price When Posted: $181.83 Implied Downside: -13.7%
2025-10-21-5.37%
Badger Meter reported Q3 2025 results with 13% sales growth and increased dividend.
2025-07-23-6.25%
Firm: Stifel Nicolaus Analyst: Nathan Jones Price Target: $224.00 Price When Posted: $197.83 Implied Upside: +13.2%

Valuation Table

MethodImplied ValueWeightWeighted Value
DCF$160.2870%$112.20
Historicals$213.4530%$64.04
Total Weighted$176.23