Badger Meter (BMI) Gross Margin (2010 - 2026)
Badger Meter (BMI) posted Gross Margin of 40.83% for Q2 2026, down 0.25 percentage points from 41.08% a year earlier and down 0.86 percentage points from the prior quarter.
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Analysis
Badger Meter (BMI) Gross Margin (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Gross Margin at Badger Meter was 41.31%, up 0.13 percentage points year-over-year; for FY2025, it came in at 41.68%, up 1.85 percentage points from FY2024.
- Annual Gross Margin has increased for three consecutive years, with a five-year change of +2.14 percentage points (FY2020 to FY2025).
- In prior years, Badger Meter's Gross Margin was 39.83% in FY2024 (+0.54 pp), 39.29% in FY2023 (+0.40 pp), 38.89% in FY2022 (-1.78 pp) and 40.67% in FY2021 (+1.14 pp).
- Quarterly Gross Margin has run from a low of 38.31% in Q1 2022 to a high of 42.95% in Q1 2025 over five years.
- On a year-over-year basis, Gross Margin increased in six of the last eight quarters, with an average year-over-year change of +1.05 percentage points.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q1 2025, with a gain of 3.63 percentage points; the weakest was Q1 2022, with a drop of 3.58 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 41.69% (Q1 2026), 42.13% (Q4 2025) and 40.67% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ecolab | 78.59 Bn | 70.36 Bn | 1.95 Bn | 44.07% |
| 2 | Xylem | 23.57 Bn | 19.05 Bn | 963.00 Mn | 41.22% |
| 3 | Veralto | 23.49 Bn | 16.14 Bn | 902.00 Mn | 61.19% |
| 4 | Badger Meter | 3.66 Bn | 2.93 Bn | 90.77 Mn | 40.83% |
| 5 | Ceco Environmental | 3.13 Bn | 2.96 Bn | 86.47 Mn | 30.34% |
| 6 | NWPX Infrastructure | 993.98 Mn | 955.45 Mn | 34.36 Mn | 21.54% |
| 7 | Energy Recovery | 343.89 Mn | 19.06 Mn | 8.96 Mn | 74.67% |
| 8 | Cadiz | 301.30 Mn | 269.74 Mn | -24,000.00 | -2.45% |
| 9 | AirJoule Technologies | 296.32 Mn | 175.95 Mn | - | - |
| 10 | LanzaTech Global | 77.75 Mn | -37.39 Mn | 1.91 Mn | 21.20% |
Historic Data
Download Data
Historic 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% |
API Access
Badger Meter Gross 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=gross-margin&ticker=BMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=BMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();