Badger Meter delivered extraordinary growth with revenue surging 289% to $917M and net income jumping 304% to $142M, while expanding its water management technology offerings.
This represents exceptional financial performance that far exceeds typical utility equipment company growth rates, suggesting either major acquisitions, significant market expansion, or a fundamental business transformation. The company is simultaneously expanding its product portfolio into sewer monitoring solutions and emphasizing software-driven analytics, indicating a strategic shift toward higher-value technology services.
The financial results show explosive growth across all key metrics with revenue nearly quadrupling to $917M and net income surging over 300% to $142M, while gross profit margins remained strong at over 40%. Balance sheet metrics grew more modestly with total assets up 19% to $974M and stockholders' equity increasing 18% to $713M, suggesting the growth was achieved efficiently without dramatic balance sheet expansion. Operating cash flow grew a solid 19% to $184M, providing strong cash generation to support this rapid expansion and indicating the revenue growth translated into real cash flows.
Net income grew 303.8% — bottom-line growth signals improving overall business health.
Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.
Strong top-line growth of 289% — accelerating demand or successful expansion into new markets.
Receivables surged 33.2% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.
Current liabilities rose 27.5% — increased short-term obligations, watch current ratio.
Cash grew 20.6% — improving liquidity position supports investment and shareholder returns.
Asset base grew 19.3% — expansion through organic growth, acquisitions, or capital deployment.
Operating cash flow grew 18.5% — strong conversion of earnings to cash, healthy business fundamentals.
Equity base grew 17.7% — retained earnings accumulation or equity issuance strengthening the balance sheet.
Operating income improving — cost discipline or growing revenue base absorbing fixed costs.
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