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Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and BADGER METER INC (BMI). Click either name above to swap in a different company.
Astera Labs, Inc. is the larger business by last-quarter revenue ($270.6M vs $234.1M, roughly 1.2× BADGER METER INC). Astera Labs, Inc. runs the higher net margin — 16.6% vs 14.3%, a 2.3% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (91.8% vs 14.1%). Astera Labs, Inc. produced more free cash flow last quarter ($76.6M vs $50.8M). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (103.6% CAGR vs 9.2%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Badger Meter Inc. is a leading global provider of flow measurement and control solutions, serving water utilities, industrial, commercial, and residential customer segments. Its core offerings include smart water meters, IoT-enabled usage monitoring systems, and supporting software that help clients track resource consumption, cut waste, and boost operational efficiency, with key markets spanning North America, Europe, and the Asia-Pacific region.
ALAB vs BMI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.6M | $234.1M |
| Net Profit | $45.0M | $33.6M |
| Gross Margin | 75.6% | 39.7% |
| Operating Margin | 24.7% | 18.4% |
| Net Margin | 16.6% | 14.3% |
| Revenue YoY | 91.8% | 14.1% |
| Net Profit YoY | 82.0% | 9.3% |
| EPS (diluted) | $0.25 | $1.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $270.6M | $234.1M | ||
| Q3 25 | $230.6M | $222.2M | ||
| Q2 25 | $191.9M | $238.1M | ||
| Q1 25 | $159.4M | $222.2M | ||
| Q4 24 | $141.1M | $205.2M | ||
| Q3 24 | $113.1M | $208.4M | ||
| Q2 24 | $76.8M | $216.7M | ||
| Q1 24 | $65.3M | $196.3M |
| Q4 25 | $45.0M | $33.6M | ||
| Q3 25 | $91.1M | $35.1M | ||
| Q2 25 | $51.2M | $34.6M | ||
| Q1 25 | $31.8M | $38.4M | ||
| Q4 24 | $24.7M | $30.7M | ||
| Q3 24 | $-7.6M | $32.0M | ||
| Q2 24 | $-7.5M | $33.1M | ||
| Q1 24 | $-93.0M | $29.1M |
| Q4 25 | 75.6% | 39.7% | ||
| Q3 25 | 76.2% | 43.1% | ||
| Q2 25 | 75.8% | 41.1% | ||
| Q1 25 | 74.9% | 42.9% | ||
| Q4 24 | 74.0% | 40.3% | ||
| Q3 24 | 77.7% | 40.2% | ||
| Q2 24 | 77.9% | 39.4% | ||
| Q1 24 | 77.4% | 39.3% |
| Q4 25 | 24.7% | 18.4% | ||
| Q3 25 | 24.0% | 20.7% | ||
| Q2 25 | 20.7% | 18.8% | ||
| Q1 25 | 7.1% | 22.2% | ||
| Q4 24 | 0.1% | 19.1% | ||
| Q3 24 | -7.9% | 19.5% | ||
| Q2 24 | -31.7% | 19.2% | ||
| Q1 24 | -127.1% | 18.6% |
| Q4 25 | 16.6% | 14.3% | ||
| Q3 25 | 39.5% | 15.8% | ||
| Q2 25 | 26.7% | 14.5% | ||
| Q1 25 | 20.0% | 17.3% | ||
| Q4 24 | 17.5% | 15.0% | ||
| Q3 24 | -6.7% | 15.4% | ||
| Q2 24 | -9.8% | 15.3% | ||
| Q1 24 | -142.5% | 14.8% |
| Q4 25 | $0.25 | $1.13 | ||
| Q3 25 | $0.50 | $1.19 | ||
| Q2 25 | $0.29 | $1.17 | ||
| Q1 25 | $0.18 | $1.30 | ||
| Q4 24 | $1.23 | $1.04 | ||
| Q3 24 | $-0.05 | $1.08 | ||
| Q2 24 | $-0.05 | $1.12 | ||
| Q1 24 | $-1.77 | $0.99 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.6M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $713.3M |
| Total Assets | $1.5B | $973.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.6M | — | ||
| Q3 25 | $140.4M | — | ||
| Q2 25 | $162.3M | — | ||
| Q1 25 | $86.4M | — | ||
| Q4 24 | $79.6M | — | ||
| Q3 24 | $126.1M | — | ||
| Q2 24 | $421.1M | — | ||
| Q1 24 | $696.1M | — |
| Q4 25 | $1.4B | $713.3M | ||
| Q3 25 | $1.3B | $702.5M | ||
| Q2 25 | $1.1B | $677.6M | ||
| Q1 25 | $1.0B | $641.7M | ||
| Q4 24 | $964.8M | $606.2M | ||
| Q3 24 | $889.6M | $591.2M | ||
| Q2 24 | $845.3M | $563.1M | ||
| Q1 24 | $808.8M | $535.6M |
| Q4 25 | $1.5B | $973.6M | ||
| Q3 25 | $1.4B | $978.3M | ||
| Q2 25 | $1.3B | $936.4M | ||
| Q1 25 | $1.1B | $899.6M | ||
| Q4 24 | $1.1B | $816.4M | ||
| Q3 24 | $983.1M | $802.9M | ||
| Q2 24 | $915.5M | $781.3M | ||
| Q1 24 | $864.9M | $743.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $95.3M | $54.8M |
| Free Cash FlowOCF − Capex | $76.6M | $50.8M |
| FCF MarginFCF / Revenue | 28.3% | 21.7% |
| Capex IntensityCapex / Revenue | 6.9% | 1.7% |
| Cash ConversionOCF / Net Profit | 2.12× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $281.8M | $169.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.3M | $54.8M | ||
| Q3 25 | $78.2M | $51.3M | ||
| Q2 25 | $135.4M | $44.6M | ||
| Q1 25 | $10.5M | $33.0M | ||
| Q4 24 | $39.7M | $52.1M | ||
| Q3 24 | $63.5M | $45.1M | ||
| Q2 24 | $29.8M | $36.4M | ||
| Q1 24 | $3.7M | $21.5M |
| Q4 25 | $76.6M | $50.8M | ||
| Q3 25 | $65.9M | $48.2M | ||
| Q2 25 | $133.3M | $40.6M | ||
| Q1 25 | $6.0M | $30.1M | ||
| Q4 24 | $24.3M | $47.4M | ||
| Q3 24 | $46.8M | $42.0M | ||
| Q2 24 | $28.5M | $34.1M | ||
| Q1 24 | $228.0K | $18.8M |
| Q4 25 | 28.3% | 21.7% | ||
| Q3 25 | 28.6% | 21.7% | ||
| Q2 25 | 69.5% | 17.1% | ||
| Q1 25 | 3.7% | 13.5% | ||
| Q4 24 | 17.2% | 23.1% | ||
| Q3 24 | 41.4% | 20.1% | ||
| Q2 24 | 37.1% | 15.7% | ||
| Q1 24 | 0.3% | 9.6% |
| Q4 25 | 6.9% | 1.7% | ||
| Q3 25 | 5.3% | 1.4% | ||
| Q2 25 | 1.1% | 1.7% | ||
| Q1 25 | 2.8% | 1.3% | ||
| Q4 24 | 10.9% | 2.3% | ||
| Q3 24 | 14.8% | 1.5% | ||
| Q2 24 | 1.7% | 1.1% | ||
| Q1 24 | 5.2% | 1.4% |
| Q4 25 | 2.12× | 1.63× | ||
| Q3 25 | 0.86× | 1.46× | ||
| Q2 25 | 2.64× | 1.29× | ||
| Q1 25 | 0.33× | 0.86× | ||
| Q4 24 | 1.61× | 1.70× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.10× | ||
| Q1 24 | — | 0.74× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALAB
Segment breakdown not available.
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
