Badger Meter (BMI) Operating Margin (2010 - 2026)
Badger Meter (BMI) posted quarterly Operating Margin of 17.71% for Q2 2026, down 113.0% year-over-year from 136.24% in Q2 2025, and up 1.86% quarter-over-quarter from 17.39% in Q1 2026.
Badger Meter (BMI) Operating Margin (2010 - 2026) Analysis & Trends
Badger Meter (BMI) has reported Operating Margin for 17 consecutive years, with 17.71% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin fell 113.0% year-over-year to 17.71%; the TTM figure through Jun 2026 stood at 18.58% (down 135.0% YoY), while the FY2025 annual figure was 20.01%, up 90.0% from the prior year.
- Operating Margin grew to 17.71% in Q2 2026 per BMI's latest filing, from 17.39% in the prior quarter.
- Across five years, Operating Margin topped out at 22.24% in Q1 2025 and bottomed at 14.25% in Q1 2022.
- Historically, Operating Margin has averaged 17.79% across 5 years, with a median of 17.65% in 2023.
- Annual changes were most pronounced in 2025 — Operating Margin jumped 361 bps — and 2026, when it sank 485 bps.
- Badger Meter's Operating Margin stood at 15.25% in 2022, then advanced by 15 bps to 17.58% in 2023, then climbed by 9 bps to 19.12% in 2024, then climbed by 2 bps to 19.51% in 2025, then declined by 9 bps to 17.71% in 2026.
- Business Quant data shows BMI's Operating Margin at 17.71% in Q2 2026, 17.39% in Q1 2026, and 19.51% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Garmin | 56.67 Bn | 54.00 Bn | 1.26 Bn | 30.44% |
| 2 | Keysight Technologies | 53.22 Bn | 50.81 Bn | 1.18 Bn | 23.70% |
| 3 | Coherent | 51.41 Bn | 49.43 Bn | 787.08 Mn | -47.91% |
| 4 | Teledyne Technologies | 29.23 Bn | 28.89 Bn | 738.10 Mn | 20.04% |
| 5 | Mks | 18.74 Bn | 18.13 Bn | 595.00 Mn | 20.11% |
| 6 | Fortive | 18.21 Bn | 17.84 Bn | 695.30 Mn | 19.14% |
| 7 | Trimble | 13.95 Bn | 13.74 Bn | 674.90 Mn | 13.58% |
| 8 | Cognex | 9.95 Bn | 9.54 Bn | 205.77 Mn | 29.36% |
| 9 | Esco Technologies | 7.37 Bn | 7.30 Bn | 141.52 Mn | 24.57% |
| 10 | Badger Meter | 3.77 Bn | 3.67 Bn | 90.77 Mn | 17.71% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 17.71% |
| Mar 31, 2026 | 17.39% |
| Dec 31, 2025 | 19.51% |
| Sep 30, 2025 | 19.56% |
| Jun 30, 2025 | 18.84% |
| Mar 31, 2025 | 22.24% |
| Dec 31, 2024 | 19.12% |
| Sep 30, 2024 | 19.49% |
| Jun 30, 2024 | 19.16% |
| Mar 31, 2024 | 18.64% |
| Dec 31, 2023 | 17.58% |
| Sep 30, 2023 | 16.88% |
| Jun 30, 2023 | 16.78% |
| Mar 31, 2023 | 15.74% |
| Dec 31, 2022 | 15.25% |
| Sep 30, 2022 | 16.13% |
| Jun 30, 2022 | 16.03% |
| Mar 31, 2022 | 14.25% |
| Dec 31, 2021 | 16.84% |
| Sep 30, 2021 | 15.10% |