Loading...

Badger Meter

NYSE:BMI
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BMI
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Badger Meter, Inc. provides flow measurement, control, and communication solutions worldwide. The last earnings update was 49 days ago. More info.


Add to Portfolio Compare Print
BMI Share Price and Events
7 Day Returns
3.4%
NYSE:BMI
-0.8%
US Electronic
0.1%
US Market
1 Year Returns
22.9%
NYSE:BMI
-2.4%
US Electronic
1.2%
US Market
BMI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Badger Meter (BMI) 3.4% 10.3% 0.2% 22.9% 59.2% 121.9%
US Electronic -0.8% 1.2% -3.5% -2.4% 51.1% 47.7%
US Market 0.1% 0.6% 0.9% 1.2% 36.7% 37.9%
1 Year Return vs Industry and Market
  • BMI outperformed the Electronic industry which returned -2.4% over the past year.
  • BMI outperformed the Market in United States of America which returned 1.2% over the past year.
Price Volatility
BMI
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Badger Meter undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Badger Meter to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Badger Meter.

NYSE:BMI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BMI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.09
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.094 (1 + (1- 21%) (1.28%))
1.071
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.071 * 5.96%)
9.11%

Discounted Cash Flow Calculation for NYSE:BMI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Badger Meter is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:BMI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.11%)
2019 54.95 Analyst x2 50.36
2020 53.63 Analyst x3 45.05
2021 67.60 Analyst x1 52.04
2022 72.20 Analyst x1 50.94
2023 76.12 Est @ 5.43% 49.22
2024 79.64 Est @ 4.62% 47.20
2025 82.86 Est @ 4.05% 45.01
2026 85.89 Est @ 3.66% 42.76
2027 88.79 Est @ 3.38% 40.51
2028 91.62 Est @ 3.18% 38.31
Present value of next 10 years cash flows $461.40
NYSE:BMI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $91.62 × (1 + 2.73%) ÷ (9.11% – 2.73%)
$1,475.08
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,475.08 ÷ (1 + 9.11%)10
$616.79
NYSE:BMI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $461.40 + $616.79
$1,078.19
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,078.19 / 29.11
$37.03
NYSE:BMI Discount to Share Price
Calculation Result
Value per share (USD) From above. $37.03
Current discount Discount to share price of $57.45
= -1 x ($57.45 - $37.03) / $37.03
-55.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Badger Meter is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Badger Meter's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Badger Meter's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BMI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.07
NYSE:BMI Share Price ** NYSE (2019-06-18) in USD $57.45
United States of America Electronic Industry PE Ratio Median Figure of 92 Publicly-Listed Electronic Companies 17.93x
United States of America Market PE Ratio Median Figure of 3,092 Publicly-Listed Companies 17.63x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Badger Meter.

NYSE:BMI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BMI Share Price ÷ EPS (both in USD)

= 57.45 ÷ 1.07

53.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Badger Meter is overvalued based on earnings compared to the US Electronic industry average.
  • Badger Meter is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Badger Meter's expected growth come at a high price?
Raw Data
NYSE:BMI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 53.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
14.9%per year
United States of America Electronic Industry PEG Ratio Median Figure of 59 Publicly-Listed Electronic Companies 1.25x
United States of America Market PEG Ratio Median Figure of 2,126 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

NYSE:BMI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 53.66x ÷ 14.9%

3.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Badger Meter is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Badger Meter's assets?
Raw Data
NYSE:BMI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $10.60
NYSE:BMI Share Price * NYSE (2019-06-18) in USD $57.45
United States of America Electronic Industry PB Ratio Median Figure of 140 Publicly-Listed Electronic Companies 1.98x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NYSE:BMI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BMI Share Price ÷ Book Value per Share (both in USD)

= 57.45 ÷ 10.60

5.42x

* Primary Listing of Badger Meter.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Badger Meter is overvalued based on assets compared to the US Electronic industry average.
X
Value checks
We assess Badger Meter's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Badger Meter has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Badger Meter expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Badger Meter expected to grow at an attractive rate?
  • Badger Meter's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Badger Meter's earnings growth is expected to exceed the United States of America market average.
  • Badger Meter's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BMI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BMI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 14.9%
NYSE:BMI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 5%
United States of America Electronic Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BMI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BMI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 525 88 1
2021-12-31 494 78 57 2
2020-12-31 473 73 53 6
2019-12-31 450 67 50 6
NYSE:BMI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 434 71 31
2018-12-31 434 60 28
2018-09-30 426 44 24
2018-06-30 415 38 29
2018-03-31 406 44 33
2017-12-31 402 50 35
2017-09-30 399 62 33
2017-06-30 395 66 34
2017-03-31 395 50 33
2016-12-31 394 56 32
2016-09-30 396 51 32
2016-06-30 400 44 31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Badger Meter's earnings are expected to grow by 14.9% yearly, however this is not considered high growth (20% yearly).
  • Badger Meter's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BMI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Badger Meter Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BMI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 1.93 1.93 1.93 1.00
2020-12-31 1.80 1.93 1.71 5.00
2019-12-31 1.68 1.74 1.60 5.00
NYSE:BMI Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.07
2018-12-31 0.96
2018-09-30 0.82
2018-06-30 1.00
2018-03-31 1.15
2017-12-31 1.20
2017-09-30 1.16
2017-06-30 1.18
2017-03-31 1.14
2016-12-31 1.12
2016-09-30 1.10
2016-06-30 1.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Badger Meter will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Badger Meter's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Badger Meter has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Badger Meter performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Badger Meter's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Badger Meter's year on year earnings growth rate has been positive over the past 5 years.
  • Badger Meter's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Badger Meter's 1-year earnings growth is negative, it can't be compared to the US Electronic industry average.
Earnings and Revenue History
Badger Meter's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Badger Meter Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BMI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 433.57 31.07 124.76
2018-12-31 433.73 27.79 125.34
2018-09-30 425.97 23.78 125.19
2018-06-30 415.35 28.91 109.82
2018-03-31 405.88 33.37 101.10
2017-12-31 402.44 34.57 99.52
2017-09-30 398.89 33.45 97.20
2017-06-30 395.15 34.27 97.28
2017-03-31 394.80 33.05 97.29
2016-12-31 393.76 32.30 98.31
2016-09-30 396.43 31.67 99.53
2016-06-30 399.55 31.20 97.30
2016-03-31 394.62 29.70 95.79
2015-12-31 377.70 25.94 92.61
2015-09-30 371.27 26.46 91.20
2015-06-30 368.15 28.36 89.21
2015-03-31 364.92 29.27 86.86
2014-12-31 364.77 29.68 83.40
2014-09-30 356.44 30.06 79.21
2014-06-30 353.13 28.88 77.96
2014-03-31 345.81 26.34 77.03
2013-12-31 334.12 24.62 77.88
2013-09-30 327.44 23.72 79.26
2013-06-30 321.60 23.53 80.25
2013-03-31 315.24 24.69 79.41
2012-12-31 319.66 28.03 76.78
2012-09-30 306.05 23.74 73.99
2012-06-30 288.62 21.76 68.57

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Badger Meter has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Badger Meter used its assets more efficiently than the US Electronic industry average last year based on Return on Assets.
  • Badger Meter's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Badger Meter's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Badger Meter has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Badger Meter's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Badger Meter's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Badger Meter is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Badger Meter's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Badger Meter's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 15.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Badger Meter Company Filings, last reported 2 months ago.

NYSE:BMI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 308.61 21.41 15.03
2018-12-31 303.50 18.06 13.09
2018-09-30 295.23 35.96 10.63
2018-06-30 288.47 42.43 12.13
2018-03-31 280.72 48.17 13.53
2017-12-31 277.45 44.55 11.16
2017-09-30 274.13 44.97 13.39
2017-06-30 269.41 45.56 13.85
2017-03-31 260.86 38.16 11.31
2016-12-31 256.21 37.95 7.34
2016-09-30 252.51 49.73 10.67
2016-06-30 245.91 53.59 7.36
2016-03-31 238.58 61.16 9.94
2015-12-31 232.28 71.36 8.16
2015-09-30 229.43 67.38 4.08
2015-06-30 223.62 73.03 12.68
2015-03-31 215.87 75.92 8.37
2014-12-31 214.33 75.93 6.66
2014-09-30 214.19 61.66 10.37
2014-06-30 206.87 68.69 6.76
2014-03-31 199.80 73.87 6.41
2013-12-31 196.56 70.05 7.26
2013-09-30 185.80 65.19 4.62
2013-06-30 177.86 66.23 2.71
2013-03-31 172.52 63.88 3.79
2012-12-31 171.25 66.73 6.55
2012-09-30 167.08 71.18 6.06
2012-06-30 159.76 77.83 6.51
  • Badger Meter's level of debt (3.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (36.9% vs 3.6% today).
  • Debt is well covered by operating cash flow (650.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 41.5x coverage).
X
Financial health checks
We assess Badger Meter's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Badger Meter has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Badger Meter's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.04%
Current annual income from Badger Meter dividends. Estimated to be 1.12% next year.
If you bought $2,000 of Badger Meter shares you are expected to receive $21 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Badger Meter's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Badger Meter's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BMI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Electronic Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BMI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.60 1.00
2021-12-31 0.68 2.00
2020-12-31 0.66 4.00
2019-12-31 0.62 4.00
NYSE:BMI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-26 0.600 1.106
2019-02-08 0.600 1.045
2018-11-09 0.600 1.148
2018-08-10 0.600 1.153
2018-04-27 0.520 1.131
2018-02-09 0.520 1.109
2017-11-10 0.520 1.105
2017-08-11 0.520 1.130
2017-04-28 0.460 1.133
2017-02-10 0.460 1.262
2016-11-11 0.460 1.234
2016-08-12 0.460 1.390
2016-04-29 0.400 1.105
2016-02-12 0.400 1.196
2015-11-13 0.400 1.375
2015-08-14 0.400 1.357
2015-04-24 0.380 1.223
2015-02-13 0.380 1.275
2014-11-14 0.380 1.331
2014-08-08 0.380 1.453
2014-04-25 0.360 1.425
2014-02-14 0.360 1.345
2013-11-08 0.360 1.363
2013-08-09 0.360 1.501
2013-04-26 0.340 1.495
2013-02-15 0.340 1.346
2012-11-09 0.340 1.443
2012-08-10 0.340 1.813
2012-04-27 0.320 1.765
2012-02-17 0.320 1.906
2011-11-11 0.320 2.079
2011-08-12 0.320 1.983
2011-04-29 0.280 1.534
2011-02-18 0.280 1.457
2010-11-12 0.280 1.325
2010-08-20 0.280 1.391
2010-04-30 0.240 1.209
2010-02-12 0.240 1.230
2009-11-06 0.240 1.254
2009-08-14 0.240 1.262

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Badger Meter's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Badger Meter's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Badger Meter afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Badger Meter has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Badger Meter's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ken Bockhorst
COMPENSATION $1,271,651
AGE 45
TENURE AS CEO 0.4 years
CEO Bio

Mr. Kenneth C. Bockhorst, also known as Ken, is CEO at Badger Meter, Inc. since January 1, 2019 and has been its President since April 27, 2018 and serves as its Director. He served as Senior Vice President and Chief Operating Officer at Badger Meter, Inc. since October 11, 2017. Mr. Bockhorst oversees the Badger's municipal water and flow instrumentation manufacturing, engineering, sales and marketing and acquisition activities. He is also responsible for continuous improvement initiatives and new product development. He has 20 plus years of operations management expertise. Mr. Bockhorst served as an Executive Vice President of Energy Segment at Actuant Corporation since April 12, 2016 until September 8, 2017, where he oversaw 1,500 employees globally and managed the segment’s three business units. During his tenure at Actuant, he established a demonstrated track record of building strong customer relationships and motivated business teams, driving sales growth, executing robust operational excellence initiatives and improving profitability. He also developed and executed strategic plans that included major portfolio enhancements with both acquisition and divestiture activities. Mr. Bockhorst served as Business Unit Leader of Actuant’s Hydratight business since October 2014. He served as President of the Hydratight business unit arch 2011 to October 2017. Mr. Bockhorst joined Actuant in 2011 as Global Vice President of Operations for the Enerpac business. Prior to Actuant, he held product management and operational leadership roles at IDEX Corporation from 2007 to 2011 and at Eaton Corporation from 1991 to 2007. He earned a Bachelor’s degree in Operations Management, Marketing and Human Resources from Marian University and an Executive MBA from the University of Wisconsin-Madison.

CEO Compensation
  • Ken's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Ken's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Badger Meter management team in years:

0.9
Average Tenure
52
Average Age
  • The average tenure for the Badger Meter management team is less than 2 years, this suggests a new team.
Management Team

Ken Bockhorst

TITLE
President
COMPENSATION
$1M
AGE
45
TENURE
0.4 yrs

Beverly L. Smiley

TITLE
Vice President of Accounting & External Reporting
COMPENSATION
$752K
AGE
68

Bob Wrocklage

TITLE
VP of Finance & CFO
AGE
39
TENURE
0.4 yrs

William Parisen

TITLE
Vice President of Global Operations

Karen Bauer

TITLE
VP of Investor Relations
TENURE
0.9 yrs

Bill Bergum

TITLE
VP, General Counsel & Secretary
AGE
53
TENURE
15.8 yrs

Kimberly Stoll

TITLE
Vice President of Sales & Marketing
COMPENSATION
$359K
AGE
52
TENURE
7.3 yrs

Trina Jashinsky

TITLE
Vice President of Human Resources
AGE
55
TENURE
2.7 yrs

Daniel Weltzien

TITLE
VP & Controller
AGE
39
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the Badger Meter board of directors in years:

2.5
Average Tenure
56
Average Age
  • The average tenure for the Badger Meter board of directors is less than 3 years, this suggests a new board.
Board of Directors

Rich Meeusen

TITLE
Chairman
COMPENSATION
$5M
AGE
63
TENURE
15.2 yrs

Ken Bockhorst

TITLE
President
COMPENSATION
$1M
AGE
45
TENURE
0.8 yrs

Tom Fischer

TITLE
Independent Director
COMPENSATION
$130K
AGE
71
TENURE
16.4 yrs

Todd Teske

TITLE
Lead Outside Director
COMPENSATION
$130K
AGE
53
TENURE
2.2 yrs

Gale Klappa

TITLE
Independent Director
COMPENSATION
$126K
AGE
67
TENURE
9.3 yrs

Gail Lione

TITLE
Independent Director
COMPENSATION
$121K
AGE
69
TENURE
7.3 yrs

Jim Stern

TITLE
Independent Director
COMPENSATION
$121K
AGE
55
TENURE
2.6 yrs

Todd Adams

TITLE
Independent Director
COMPENSATION
$117K
AGE
47
TENURE
2.3 yrs

Glen Tellock

TITLE
Independent Director
COMPENSATION
$118K
AGE
57
TENURE
2.3 yrs

Tessa Myers

TITLE
Director
AGE
42
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • Badger Meter insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Jun 19 Sell Richard Meeusen Individual 13. Jun 19 13. Jun 19 -8,571 $56.85 $-487,274
30. Apr 19 Sell Horst Gras Individual 29. Apr 19 30. Apr 19 -11,112 $55.00 $-605,574
06. Mar 19 Sell Raymond Serdynski Individual 05. Mar 19 05. Mar 19 -842 $58.45 $-49,219
06. Mar 19 Sell Gregory Gomez Individual 05. Mar 19 05. Mar 19 -1,178 $58.45 $-68,859
06. Mar 19 Sell William R. Bergum Individual 05. Mar 19 05. Mar 19 -842 $58.45 $-49,219
06. Mar 19 Sell Fred Begale Individual 05. Mar 19 05. Mar 19 -842 $58.45 $-49,219
15. Feb 19 Sell Richard Meeusen Individual 13. Feb 19 14. Feb 19 -10,000 $59.16 $-590,190
11. Feb 19 Sell Richard Johnson Individual 08. Feb 19 08. Feb 19 -5,854 $59.15 $-346,276
14. Dec 18 Sell Beverly L. Smiley Individual 13. Dec 18 13. Dec 18 -4,000 $54.53 $-218,126
05. Nov 18 Sell Richard Johnson Individual 02. Nov 18 02. Nov 18 -19,000 $50.43 $-958,151
02. Nov 18 Sell Richard Meeusen Individual 01. Nov 18 01. Nov 18 -22,430 $50.01 $-1,121,612
26. Jul 18 Sell Fred Begale Individual 24. Jul 18 24. Jul 18 -362 $52.47 $-18,994
25. Jul 18 Sell Richard Johnson Individual 24. Jul 18 24. Jul 18 -20,000 $52.77 $-1,048,577
X
Management checks
We assess Badger Meter's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Badger Meter has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Badger Meter, Inc. (NYSE:BMI) Will Pay US$0.15 In Dividends

See our latest analysis for Badger Meter 5 questions to ask before buying a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is its annual yield among the top 25% of dividend-paying companies? … NYSE:BMI Historical Dividend Yield, May 26th 2019 Does Badger Meter pass our checks? … Next Steps: Taking into account the dividend metrics, Badger Meter ticks most of the boxes as a strong dividend investment, putting it in my list of top dividend payers.

Simply Wall St -

Should You Be Worried About Insider Transactions At Badger Meter, Inc. (NYSE:BMI)?

Check out our latest analysis for Badger Meter The Last 12 Months Of Insider Transactions At Badger Meter Over the last year, we can see that the biggest insider sale was by the Chairman, Richard Meeusen, for US$1.1m worth of shares, at about US$50.01 per share. … Badger Meter insiders didn't buy any shares over the last year. … Badger Meter Insiders Are Selling The Stock The last quarter saw substantial insider selling of Badger Meter shares.

Simply Wall St -

A Look At Badger Meter, Inc.'s (NYSE:BMI) Exceptional Fundamentals

Help shape the future of investing tools and you could win a $250 gift card! … Looking at the company as a whole, as a potential stock investment, I believe BMI has a lot to offer. … that has been able to sustain great financial health over the past.

Simply Wall St -

Does Badger Meter, Inc. (NYSE:BMI) Have A Place In Your Portfolio?

(NYSE:BMI) a good dividend stock? … A dividend paying company with growing earnings can be rewarding in the long term. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below.

Simply Wall St -

How Many Badger Meter, Inc. (NYSE:BMI) Shares Do Institutions Own?

Generally speaking, as a company grows, institutions will increase their ownership. … It has a market capitalization of US$1.6b, which means it would generally expect to see some institutions on the share registry. … institutions are noticeable on the share registry.

Simply Wall St -

Is Badger Meter, Inc. (NYSE:BMI) Investing Effectively In Its Business?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

What Do Analysts Think About Badger Meter, Inc.'s (NYSE:BMI) Earnings Trend?

Badger Meter, Inc.'s (NYSE:BMI) most recent earnings update in December 2018a … confirmed

Simply Wall St -

Should We Worry About Badger Meter, Inc.'s (NYSE:BMI) P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

How Many Insiders Sold Badger Meter, Inc. (NYSE:BMI) Shares?

But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that even when the share price was below the current price of US$59.39, an insider wanted to cash in some shares … As a general rule we consider it to be discouraging when insiders are selling below the current price

Simply Wall St -

Is Badger Meter, Inc.'s (NYSE:BMI) 8.1% ROE Strong Compared To Its Industry?

To keep the lesson grounded in practicality, we'll use ROE to better understand Badger Meter, Inc. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.081 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

Badger Meter, Inc. provides flow measurement, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities. The company also provides flow instrumentation products, including meters and valves to measure and control fluids going through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers’ representatives. Its flow instrumentation products are used in various industries, such as water/wastewater, heating, ventilating and air conditioning, oil and gas, and chemical and petrochemical. In addition, the company offers ORION Migratable for automatic meter reading; ORION (SE) for traditional fixed network applications; and ORION Cellular for infrastructure-free fixed network meter reading, as well as BEACON advanced metering analytics, a secure cloud-hosted software suite that establishes alerts for specific conditions and allows consumer engagement tools that permit end water customers to view and manage their water usage activity. It also serves municipalities, and commercial and industrial customers. The company sells its products through employees, resellers, and representatives. Badger Meter, Inc. was founded in 1905 and is headquartered in Milwaukee, Wisconsin.

Details
Name: Badger Meter, Inc.
BMI
Exchange: NYSE
Founded: 1905
$1,672,642,962
29,114,760
Website: http://www.badgermeter.com
Address: Badger Meter, Inc.
4545 West Brown Deer Road,
Milwaukee,
Wisconsin, 53223,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BMI Common Shares New York Stock Exchange US USD 26. Oct 1971
DB 33B Common Shares Deutsche Boerse AG DE EUR 26. Oct 1971
Number of employees
Current staff
Staff numbers
1,531
Badger Meter employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 23:33
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.