BMI vs NWPX vs ERII Stock Comparison

Badger Meter, NWPX Infrastructure and Energy Recovery Prices as of Oct 28, 2026 Peers: Industry group
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BMI Badger Meter Inc
$144.07 +14.0% 1M -22.3% 1Y
Market cap
$4.17B
P/E
32.9x
Revenue (TTM)
$881.24M
Div. yield
0.01%
Water Treatment Industrials
2 wins
ERII Energy Recovery, Inc.
$6.95 +3.4% 1M -60.1% 1Y
Market cap
$362.56M
P/E
23.6x
Revenue (TTM)
$120.57M
Div. yield
–
Water Treatment Industrials
1 win

Head to Head

9 decided of 12

NWPX Infrastructure leads on 6 of the 12 questions below (NWPX Infrastructure 6, Badger Meter 2, Energy Recovery 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBMINWPXERIILeader
Larger companyMarket capitalisation $4.17B $972.67M $362.56M BMI
Cheaper on earningsLower P/E, profitable companies only 32.9x 18.2x 23.6x NWPX
Cheaper on forward earningsLower price / next fiscal year consensus EPS 30.5x 19.2x — NWPX
Faster revenue growthRevenue growth, trailing twelve months -2.2% +15.9% -15.0% NWPX
More profitableNet margin, trailing twelve months 14.4% — 12.7% BMI
Better return on capitalReturn on invested capital — — — –
Less leveragedLower net debt / EBITDA — — — –
Higher dividend yieldTrailing dividend yield 0.01% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -22.3% +79.8% -60.1% NWPX
Better 5-year returnAnnualised price return, 5 years +7.1%/yr +33.2%/yr -19.3%/yr NWPX
Less volatileAnnualised volatility, 1 year 49.8% 39.9% 63.7% NWPX
Higher overall scoreMean of the five percentile scores vs peers 70/100 86/100 90/100 ERII

Percentile Scorecard

BMINWPXERII

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBMINWPXERII
Valuation 60 #9 of 21 90 #3 of 21 100 #1 of 21
Growth 61 #8 of 19 94 #2 of 19 67 #7 of 19
Profitability 94 #2 of 17 88 #3 of 17 81 #4 of 17
Financial Health 62 #9 of 22 71 #7 of 22 100 #1 of 22
Shareholder Returns 75 #3 of 9 – 100 #1 of 9
Overall 70 86 90
  • BMI ranked among 22 companies in Environmental Equipment
  • NWPX ranked among 22 companies in Environmental Equipment
  • ERII ranked among 22 companies in Environmental Equipment

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBMINWPXERIISPY
1 month +14.0%-3.3%+3.4% +0.9%
3 months +7.9%-19.1%-14.6% +5.9%
6 months +22.2%+15.9%-35.0% +8.5%
Year to date -17.4%+59.5%-48.5% +13.3%
1 year -22.3%+79.8%-60.1% +12.4%
3 years +4.5%+263.6%-53.2% +88.1%
3 years, per year +1.5%+53.8%-22.4% +23.5%
5 years +40.9%+319.5%-65.8% +68.2%
5 years, per year +7.1%+33.2%-19.3% +11.0%
10 years +354.5%+659.7%-44.4% +263.4%
10 years, per year +16.3%+22.5%-5.7% +13.8%

Risk

MeasureBMINWPXERIISPY
Volatility, 1Y 49.8%39.9%63.7% 12.7%
Downside volatility, 1Y 56.2%34.5%82.3% 12.7%
Beta vs S&P 500, 1Y 0.651.301.71 1.00
Return / volatility, 1Y -0.452.00-0.94 0.98
Max drawdown, 5Y -55.4%-35.8%-78.3% -25.4%
From 52-week high -23.3%-33.5%-60.1% -0.9%
52-week high $187.87$149.94$17.40 $779.14
52-week low $113.41$53.85$6.64 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBMINWPXERII
P/E now vs peer median 32.7xmedian 25.5x 18.0xmedian 25.5x 23.3xmedian 25.5x
P/S now vs peer median 4.7xmedian 2.4x 1.6xmedian 2.4x 2.9xmedian 2.4x
EV/EBITDA now vs peer median 19.9xmedian 19.0x —median 19.0x 14.5xmedian 19.0x
P/FCF now vs peer median 28.9xmedian 23.0x 12.4xmedian 23.0x 9.2xmedian 23.0x
P/B now vs peer median 6.3xmedian 2.0x 2.2xmedian 2.0x 2.1xmedian 2.0x
PEG now vs peer median 2.21median 1.69 0.55median 1.69 1.39median 1.69

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBMINWPXERII
Revenue $881.24M $602.76M $120.57M
Gross profit $366.94M $125.97M $77.18M
Operating income $165.34M $71.15M $14.23M
Net income $126.53M $53.48M $15.34M
Free cash flow $142.39M – $38.60M
R&D – – $12.22M
EPS (diluted) $4.38 $5.46 $0.30
Cash & equivalents $67.93M $6.06M $61.44M
Shares (diluted) 28.87M 9.79M 51.46M
Enterprise value $3.57B $972.67M $37.72M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBMINWPXERII
P/E 32.7x 18.0x 23.3x
P/FCF 28.9x 12.4x 9.2x
P/Operating cash flow 25.9x 9.0x 8.6x
P/S 4.7x 1.6x 2.9x
P/B 6.3x 2.2x 2.1x
P/Tangible book 8.3x 2.4x 2.1x
EV/EBITDA 19.9x – 14.5x
EV/EBIT 24.5x – 18.4x
EV/Revenue 4.6x 1.6x 2.2x
EV/FCF 28.4x – 6.8x
EV/Operating cash flow 25.5x 9.0x 6.4x
PEG (3Y EPS CAGR) 2.21 0.55 1.39

Growth

14 metrics
MetricBMINWPXERII
Revenue growth (1Y) -2.2% 15.9% -15.0%
Revenue CAGR (3Y) 9.6% 11.0% 4.1%
Gross profit growth (1Y) -1.3% 26.8% -18.5%
Gross profit CAGR (3Y) 11.9% 16.2% 2.0%
Operating income growth (1Y) -7.9% 47.2% -34.1%
Operating income CAGR (3Y) 15.1% 25.2% 17.3%
Net income growth (1Y) -8.8% 46.0% -36.4%
Net income CAGR (3Y) 14.0% 31.4% 13.3%
EPS growth (1Y) -6.6% 46.3% -32.7%
EPS CAGR (3Y) 14.8% 32.8% 16.8%
Operating cash flow growth (1Y) -12.3% 58.5% 98.7%
Operating cash flow CAGR (3Y) 15.9% 43.1% 62.2%
Free cash flow growth (1Y) -14.4% – 91.3%
Free cash flow CAGR (3Y) 16.2% – 76.4%

Profitability

14 metrics
MetricBMINWPXERII
Gross margin 41.6% – 64.0%
EBITDA margin 23.1% – 15.0%
Operating margin 18.8% – 11.8%
Pretax margin 19.1% – 14.6%
Net margin 14.4% – 12.7%
FCF margin 16.2% – 32.0%
Operating cash flow margin 18.0% 17.7% 34.2%
Return on equity 19.0% – 8.6%
Return on assets 13.0% – 7.5%
Return on invested capital – – –
Return on capital employed 20.1% – 7.7%
Asset turnover 0.9x 0.9x 0.6x
Cash conversion (OCF / net income) 1.3x 2.0x 2.7x
Stock comp / revenue 1.2% 1.2% 5.9%

Financial Health

11 metrics
MetricBMINWPXERII
Debt / assets – – –
Debt / equity – – –
Net debt / EBITDA – – –
Debt / FCF – – –
Liabilities / assets 31.0% 37.0% 12.8%
Equity / assets 69.0% 63.0% 87.2%
Interest coverage – – –
Current ratio 2.5x 2.6x 8.1x
Quick ratio 1.2x – 5.8x
Cash ratio 0.5x – 5.0x
Altman Z-score 11.28 – 10.89

Shareholder Returns

7 metrics
MetricBMINWPXERII
Dividend yield 1.1% – –
Net buyback yield 2.9% – 9.6%
Shareholder yield 4.0% – 9.6%
Payout ratio (earnings) 37.7% – –
Payout ratio (FCF) 33.5% – –
Dividend growth (1Y) 14.1% – –
Dividend CAGR (3Y) 19.8% – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBMINWPXERII
Forward P/E 30.5xFY2026 19.2xFY2026 –
EPS, next fiscal year $4.73FY2026 $5.19FY2026 $-0.20FY2026
EPS growth, next FY -1.3%FY2026 +45.8%FY2026 -147.6%FY2026
EPS growth, the year after +10.4% -7.5% –
Revenue, next fiscal year $930.20MFY2026 $573.90MFY2026 $69.90MFY2026
Revenue growth, next FY +1.5%FY2026 +9.1%FY2026 -48.2%FY2026
Revenue growth, the year after +10.4% +3.8% +45.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBMINWPXERII
Held by institutions 100.0% 89.5% 85.0%
Institutions holding 479 224 197
Change in shares held, QoQ +7.9% +4.6% -1.1%
Institutions buying 254 125 120
Institutions selling 157 65 45
Buyers to sellers 1.62 1.92 2.67

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BMINWPXERII
BMI 1.00 0.16 0.12
NWPX 0.16 1.00 0.10
ERII 0.12 0.10 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BMI, NWPX and ERII?

Badger Meter (BMI) is the largest by market capitalisation: Badger Meter (BMI) $4.17B, NWPX Infrastructure (NWPX) $972.67M, Energy Recovery (ERII) $362.56M.

Which stock is cheaper, BMI, NWPX and ERII?

NWPX Infrastructure (NWPX) trades on the lowest price-to-earnings ratio (Badger Meter (BMI) 32.9x, NWPX Infrastructure (NWPX) 18.2x, Energy Recovery (ERII) 23.6x). On next year's consensus earnings, NWPX Infrastructure (NWPX) is cheapest (Badger Meter (BMI) 30.5x, NWPX Infrastructure (NWPX) 19.2x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

NWPX Infrastructure (NWPX) grew revenue fastest over the trailing twelve months: Badger Meter (BMI) -2.2%, NWPX Infrastructure (NWPX) +15.9%, Energy Recovery (ERII) -15.0%.

Which company is more profitable?

Badger Meter (BMI) has the highest net margin (Badger Meter (BMI) 14.4%, Energy Recovery (ERII) 12.7%).

Which stock has performed better?

Over the past year NWPX Infrastructure (NWPX) returned the most: Badger Meter (BMI) -22.3%, NWPX Infrastructure (NWPX) +79.8%, Energy Recovery (ERII) -60.1%. Over five years, NWPX Infrastructure (NWPX) compounded fastest (Badger Meter (BMI) +7.1%/yr, NWPX Infrastructure (NWPX) +33.2%/yr, Energy Recovery (ERII) -19.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Badger Meter (BMI) 0.01%, NWPX Infrastructure (NWPX) 0.00%, Energy Recovery (ERII) 0.00%. NWPX Infrastructure (NWPX) and Energy Recovery (ERII) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, NWPX Infrastructure (NWPX) has been the steadiest (Badger Meter (BMI) 49.8%, NWPX Infrastructure (NWPX) 39.9%, Energy Recovery (ERII) 63.7%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BMI, NWPX and ERII?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, NWPX Infrastructure (NWPX) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.