Badger Meter (BMI) EBITDA Margin (2010 - 2026)
Badger Meter (BMI) reported EBITDA Margin of 24.55% for Q3 2026, up 1.30 percentage points from 23.25% a year earlier and up 2.41 percentage points from the prior quarter.
Powered by 
Analysis
Badger Meter (BMI) EBITDA Margin (2010 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Badger Meter's EBITDA Margin came in at 23.06%, down 0.62 percentage points year-over-year; for FY2025, it came in at 23.78%, up 0.78 percentage points from FY2024.
- EBITDA Margin has increased for three consecutive years, with a five-year change of +2.55 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at 23.00% in FY2024 (+2.23 pp), 20.77% in FY2023 (+0.70 pp), 20.07% in FY2022 (-1.02 pp) and 21.10% in FY2021 (-0.14 pp).
- The Q3 2026 figure ranks as the highest quarterly EBITDA Margin since Q1 2025.
- Year over year, EBITDA Margin gained in four of the last eight quarters, with an average year-over-year change of +0.20 percentage points.
- The high point for year-over-year EBITDA Margin in five years was Q1 2025 (a gain of 3.25 percentage points); the low point was Q1 2026 (a drop of 4.11 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 22.14% (Q2 2026), 21.86% (Q1 2026) and 23.49% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ecolab | 85.97 Bn | 78.95 Bn | 2.07 Bn | 23.38% |
| 2 | Veralto | 28.80 Bn | 21.43 Bn | 908.00 Mn | 21.60% |
| 3 | Xylem | 23.13 Bn | 18.86 Bn | 907.00 Mn | 23.72% |
| 4 | Badger Meter | 4.57 Bn | 3.97 Bn | 98.85 Mn | 24.55% |
| 5 | Ceco Environmental | 2.30 Bn | 2.12 Bn | 86.47 Mn | -7.33% |
| 6 | NWPX Infrastructure | 882.96 Mn | 841.04 Mn | 38.19 Mn | 17.09% |
| 7 | Energy Recovery | 374.69 Mn | 37.14 Mn | 4.20 Mn | -78.30% |
| 8 | Cadiz | 320.18 Mn | 285.30 Mn | -24,000.00 | -797.04% |
| 9 | AirJoule Technologies | 179.57 Mn | 59.19 Mn | - | - |
| 10 | LanzaTech Global | 58.06 Mn | -39.57 Mn | 1.91 Mn | -98.86% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 24.55% |
| Jun 30, 2026 | 22.14% |
| Mar 31, 2026 | 21.86% |
| Dec 31, 2025 | 23.49% |
| Sep 30, 2025 | 23.25% |
| Jun 30, 2025 | 22.54% |
| Mar 31, 2025 | 25.97% |
| Dec 31, 2024 | 23.05% |
| Sep 30, 2024 | 23.33% |
| Jun 30, 2024 | 22.89% |
| Mar 31, 2024 | 22.72% |
| Dec 31, 2023 | 21.52% |
| Sep 30, 2023 | 20.67% |
| Jun 30, 2023 | 20.70% |
| Mar 31, 2023 | 20.11% |
| Dec 31, 2022 | 19.38% |
| Sep 30, 2022 | 20.66% |
| Jun 30, 2022 | 20.87% |
| Mar 31, 2022 | 19.36% |
| Dec 31, 2021 | 21.91% |
API Access
Badger Meter EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=BMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "BMI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=BMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();