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Side-by-side financial comparison of Amphastar Pharmaceuticals, Inc. (AMPH) and BADGER METER INC (BMI). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $183.1M, roughly 1.3× Amphastar Pharmaceuticals, Inc.). BADGER METER INC runs the higher net margin — 14.3% vs 13.3%, a 1.0% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs -1.8%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $24.6M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 3.2%).
Amphastar Pharmaceuticals is a publicly traded American speciality pharmaceutical company. It was incorporated in May 2004 and primarily develops, manufactures, and sells inhalation and intranasal products.
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.
AMPH vs BMI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.1M | $234.1M |
| Net Profit | $24.4M | $33.6M |
| Gross Margin | 46.8% | 39.7% |
| Operating Margin | 19.4% | 18.4% |
| Net Margin | 13.3% | 14.3% |
| Revenue YoY | -1.8% | 14.1% |
| Net Profit YoY | -35.7% | 9.3% |
| EPS (diluted) | $0.51 | $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 | $183.1M | $234.1M | ||
| Q3 25 | $191.8M | $222.2M | ||
| Q2 25 | $174.4M | $238.1M | ||
| Q1 25 | $170.5M | $222.2M | ||
| Q4 24 | $186.5M | $205.2M | ||
| Q3 24 | $191.2M | $208.4M | ||
| Q2 24 | $182.4M | $216.7M | ||
| Q1 24 | $171.8M | $196.3M |
| Q4 25 | $24.4M | $33.6M | ||
| Q3 25 | $17.4M | $35.1M | ||
| Q2 25 | $31.0M | $34.6M | ||
| Q1 25 | $25.3M | $38.4M | ||
| Q4 24 | $38.0M | $30.7M | ||
| Q3 24 | $40.4M | $32.0M | ||
| Q2 24 | $37.9M | $33.1M | ||
| Q1 24 | $43.2M | $29.1M |
| Q4 25 | 46.8% | 39.7% | ||
| Q3 25 | 51.4% | 43.1% | ||
| Q2 25 | 49.6% | 41.1% | ||
| Q1 25 | 50.0% | 42.9% | ||
| Q4 24 | 46.5% | 40.3% | ||
| Q3 24 | 53.3% | 40.2% | ||
| Q2 24 | 52.2% | 39.4% | ||
| Q1 24 | 52.4% | 39.3% |
| Q4 25 | 19.4% | 18.4% | ||
| Q3 25 | 13.2% | 20.7% | ||
| Q2 25 | 24.2% | 18.8% | ||
| Q1 25 | 21.9% | 22.2% | ||
| Q4 24 | 24.2% | 19.1% | ||
| Q3 24 | 29.8% | 19.5% | ||
| Q2 24 | 30.3% | 19.2% | ||
| Q1 24 | 27.9% | 18.6% |
| Q4 25 | 13.3% | 14.3% | ||
| Q3 25 | 9.0% | 15.8% | ||
| Q2 25 | 17.8% | 14.5% | ||
| Q1 25 | 14.8% | 17.3% | ||
| Q4 24 | 20.4% | 15.0% | ||
| Q3 24 | 21.1% | 15.4% | ||
| Q2 24 | 20.8% | 15.3% | ||
| Q1 24 | 25.1% | 14.8% |
| Q4 25 | $0.51 | $1.13 | ||
| Q3 25 | $0.37 | $1.19 | ||
| Q2 25 | $0.64 | $1.17 | ||
| Q1 25 | $0.51 | $1.30 | ||
| Q4 24 | $0.74 | $1.04 | ||
| Q3 24 | $0.78 | $1.08 | ||
| Q2 24 | $0.73 | $1.12 | ||
| Q1 24 | $0.81 | $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 | $282.8M | — |
| Total DebtLower is stronger | $608.7M | — |
| Stockholders' EquityBook value | $788.8M | $713.3M |
| Total Assets | $1.6B | $973.6M |
| Debt / EquityLower = less leverage | 0.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.8M | — | ||
| Q3 25 | $276.2M | — | ||
| Q2 25 | $231.8M | — | ||
| Q1 25 | $236.9M | — | ||
| Q4 24 | $221.6M | — | ||
| Q3 24 | $250.5M | — | ||
| Q2 24 | $217.8M | — | ||
| Q1 24 | $289.6M | — |
| Q4 25 | $608.7M | — | ||
| Q3 25 | $608.6M | — | ||
| Q2 25 | $607.7M | — | ||
| Q1 25 | $603.9M | — | ||
| Q4 24 | $601.6M | — | ||
| Q3 24 | $596.4M | — | ||
| Q2 24 | $586.9M | — | ||
| Q1 24 | $594.0M | — |
| Q4 25 | $788.8M | $713.3M | ||
| Q3 25 | $776.7M | $702.5M | ||
| Q2 25 | $757.5M | $677.6M | ||
| Q1 25 | $751.3M | $641.7M | ||
| Q4 24 | $732.3M | $606.2M | ||
| Q3 24 | $727.7M | $591.2M | ||
| Q2 24 | $713.3M | $563.1M | ||
| Q1 24 | $672.4M | $535.6M |
| Q4 25 | $1.6B | $973.6M | ||
| Q3 25 | $1.7B | $978.3M | ||
| Q2 25 | $1.6B | $936.4M | ||
| Q1 25 | $1.6B | $899.6M | ||
| Q4 24 | $1.6B | $816.4M | ||
| Q3 24 | $1.5B | $802.9M | ||
| Q2 24 | $1.5B | $781.3M | ||
| Q1 24 | $1.6B | $743.5M |
| Q4 25 | 0.77× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.82× | — | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | 0.82× | — | ||
| Q1 24 | 0.88× | — |
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 | $32.9M | $54.8M |
| Free Cash FlowOCF − Capex | $24.6M | $50.8M |
| FCF MarginFCF / Revenue | 13.4% | 21.7% |
| Capex IntensityCapex / Revenue | 4.5% | 1.7% |
| Cash ConversionOCF / Net Profit | 1.35× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $121.2M | $169.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.9M | $54.8M | ||
| Q3 25 | $52.6M | $51.3M | ||
| Q2 25 | $35.6M | $44.6M | ||
| Q1 25 | $35.1M | $33.0M | ||
| Q4 24 | $29.0M | $52.1M | ||
| Q3 24 | $60.0M | $45.1M | ||
| Q2 24 | $69.1M | $36.4M | ||
| Q1 24 | $55.3M | $21.5M |
| Q4 25 | $24.6M | $50.8M | ||
| Q3 25 | $47.2M | $48.2M | ||
| Q2 25 | $25.0M | $40.6M | ||
| Q1 25 | $24.4M | $30.1M | ||
| Q4 24 | $16.6M | $47.4M | ||
| Q3 24 | $46.2M | $42.0M | ||
| Q2 24 | $63.1M | $34.1M | ||
| Q1 24 | $46.5M | $18.8M |
| Q4 25 | 13.4% | 21.7% | ||
| Q3 25 | 24.6% | 21.7% | ||
| Q2 25 | 14.3% | 17.1% | ||
| Q1 25 | 14.3% | 13.5% | ||
| Q4 24 | 8.9% | 23.1% | ||
| Q3 24 | 24.1% | 20.1% | ||
| Q2 24 | 34.6% | 15.7% | ||
| Q1 24 | 27.1% | 9.6% |
| Q4 25 | 4.5% | 1.7% | ||
| Q3 25 | 2.8% | 1.4% | ||
| Q2 25 | 6.1% | 1.7% | ||
| Q1 25 | 6.3% | 1.3% | ||
| Q4 24 | 6.7% | 2.3% | ||
| Q3 24 | 7.2% | 1.5% | ||
| Q2 24 | 3.3% | 1.1% | ||
| Q1 24 | 5.1% | 1.4% |
| Q4 25 | 1.35× | 1.63× | ||
| Q3 25 | 3.03× | 1.46× | ||
| Q2 25 | 1.15× | 1.29× | ||
| Q1 25 | 1.39× | 0.86× | ||
| Q4 24 | 0.76× | 1.70× | ||
| Q3 24 | 1.48× | 1.41× | ||
| Q2 24 | 1.82× | 1.10× | ||
| Q1 24 | 1.28× | 0.74× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMPH
| Other Products | $62.4M | 34% |
| Baqsimi | $46.7M | 26% |
| Primatenemist | $27.9M | 15% |
| Epinephrine | $17.1M | 9% |
| Lidocaine | $14.9M | 8% |
| Glucagon | $14.1M | 8% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
