Badger Meter (BMI) Gross Margin (2010 - 2026)
Badger Meter (BMI) posted quarterly Gross Margin of 40.83% for Q2 2026, down 25.0% year-over-year from 54.44% in Q2 2025, and down 2.06% quarter-over-quarter from 41.69% in Q1 2026.
Badger Meter (BMI) Gross Margin (2010 - 2026) Analysis & Trends
Badger Meter (BMI) has reported Gross Margin for 17 consecutive years, with 40.83% the latest figure, recorded in Q2 2026.
- In Q2 2026, Gross Margin fell 25.0% year-over-year to 40.83%; the TTM figure through Jun 2026 stood at 41.31% (up 13.0% YoY), while the FY2025 annual figure was 41.68%, up 185.0% from the prior year.
- Gross Margin declined to 40.83% in Q2 2026 per BMI's latest filing, from 41.69% in the prior quarter.
- Across five years, Gross Margin topped out at 42.95% in Q1 2025 and bottomed at 38.31% in Q1 2022.
- Historically, Gross Margin has averaged 40.08% across 5 years, with a median of 39.61% in 2022.
- Annual changes were most pronounced in 2022 — Gross Margin sank 358 bps — and 2025, when it jumped 363 bps.
- Badger Meter's Gross Margin stood at 38.67% in 2022, then gained by 1 bps to 39.17% in 2023, then advanced by 3 bps to 40.33% in 2024, then increased by 4 bps to 42.13% in 2025, then declined by 3 bps to 40.83% in 2026.
- Business Quant data shows BMI's Gross Margin at 40.83% in Q2 2026, 41.69% in Q1 2026, and 42.13% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Garmin | 56.50 Bn | 53.83 Bn | 1.26 Bn | 62.41% |
| 2 | Keysight Technologies | 54.05 Bn | 51.64 Bn | 1.18 Bn | 68.61% |
| 3 | Coherent | 51.08 Bn | 49.09 Bn | 787.08 Mn | 38.48% |
| 4 | Teledyne Technologies | 29.39 Bn | 29.05 Bn | 738.10 Mn | 44.40% |
| 5 | Mks | 19.03 Bn | 18.41 Bn | 595.00 Mn | 47.68% |
| 6 | Fortive | 18.08 Bn | 17.71 Bn | 695.30 Mn | 63.39% |
| 7 | Trimble | 13.91 Bn | 13.70 Bn | 674.90 Mn | 69.43% |
| 8 | Cognex | 9.98 Bn | 9.58 Bn | 205.77 Mn | 70.65% |
| 9 | Esco Technologies | 7.37 Bn | 7.30 Bn | 141.52 Mn | 41.74% |
| 10 | Badger Meter | 3.74 Bn | 3.64 Bn | 90.77 Mn | 40.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 40.83% |
| Mar 31, 2026 | 41.69% |
| Dec 31, 2025 | 42.13% |
| Sep 30, 2025 | 40.67% |
| Jun 30, 2025 | 41.08% |
| Mar 31, 2025 | 42.95% |
| Dec 31, 2024 | 40.33% |
| Sep 30, 2024 | 40.24% |
| Jun 30, 2024 | 39.40% |
| Mar 31, 2024 | 39.32% |
| Dec 31, 2023 | 39.17% |
| Sep 30, 2023 | 39.06% |
| Jun 30, 2023 | 39.48% |
| Mar 31, 2023 | 39.48% |
| Dec 31, 2022 | 38.67% |
| Sep 30, 2022 | 38.86% |
| Jun 30, 2022 | 39.73% |
| Mar 31, 2022 | 38.31% |
| Dec 31, 2021 | 40.39% |
| Sep 30, 2021 | 39.76% |