Badger Meter (BMI) Return on Capital Employed [ROCE] (2011 - 2026)
Badger Meter's Return on Capital Employed [ROCE] was 20.10% in Q3 2026, down 2.24 percentage points from 22.34% a year earlier and down 0.04 percentage points from the prior quarter.
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Analysis
Badger Meter (BMI) Return on Capital Employed [ROCE] (2011 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Badger Meter came in at 24.64%, up 0.29 percentage points from FY2024.
- Return on Capital Employed [ROCE] has now increased for five consecutive years, with a five-year change of +7.43 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 24.36% in FY2024 (+2.00 pp), 22.36% in FY2023 (+3.24 pp), 19.12% in FY2022 (+0.32 pp) and 18.79% in FY2021 (+1.58 pp).
- The Q3 2026 figure marks the lowest quarterly Return on Capital Employed [ROCE] since Q3 2023.
- Compared with a year earlier, Return on Capital Employed [ROCE] has declined for six straight quarters, with an average year-over-year change of -0.54 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q2 2024 (a gain of 3.55 percentage points); the worst was Q1 2026 (a drop of 2.75 percentage points).
- Per Business Quant data, BMI's Return on Capital Employed [ROCE] in the three quarters before Q3 2026 was 20.14% (Q2 2026), 21.07% (Q1 2026) and 22.23% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Ecolab | 85.97 Bn | 78.95 Bn | 2.07 Bn | 12.02% |
| 2 | Veralto | 28.80 Bn | 21.43 Bn | 908.00 Mn | 18.77% |
| 3 | Xylem | 23.13 Bn | 18.86 Bn | 907.00 Mn | 9.47% |
| 4 | Badger Meter | 4.57 Bn | 3.97 Bn | 98.85 Mn | 20.10% |
| 5 | Ceco Environmental | 2.30 Bn | 2.12 Bn | 86.47 Mn | -0.31% |
| 6 | NWPX Infrastructure | 882.96 Mn | 841.04 Mn | 38.19 Mn | 12.95% |
| 7 | Energy Recovery | 374.69 Mn | 37.14 Mn | 4.20 Mn | 0.44% |
| 8 | Cadiz | 320.18 Mn | 285.30 Mn | -24,000.00 | -21.41% |
| 9 | AirJoule Technologies | 179.57 Mn | 59.19 Mn | - | -4.66% |
| 10 | LanzaTech Global | 58.06 Mn | -39.57 Mn | 1.91 Mn | -19.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 20.10% |
| Jun 30, 2026 | 20.14% |
| Mar 31, 2026 | 21.07% |
| Dec 31, 2025 | 22.23% |
| Sep 30, 2025 | 22.34% |
| Jun 30, 2025 | 22.34% |
| Mar 31, 2025 | 23.82% |
| Dec 31, 2024 | 22.84% |
| Sep 30, 2024 | 22.75% |
| Jun 30, 2024 | 22.68% |
| Mar 31, 2024 | 21.77% |
| Dec 31, 2023 | 20.66% |
| Sep 30, 2023 | 19.87% |
| Jun 30, 2023 | 19.13% |
| Mar 31, 2023 | 18.61% |
| Dec 31, 2022 | 18.25% |
| Sep 30, 2022 | 18.84% |
| Jun 30, 2022 | 18.27% |
| Mar 31, 2022 | 17.75% |
| Dec 31, 2021 | 17.78% |
API Access
Badger Meter Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=BMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=BMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();