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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) and BADGER METER INC (BMI). Click either name above to swap in a different company.
ANI PHARMACEUTICALS INC is the larger business by last-quarter revenue ($247.1M vs $234.1M, roughly 1.1× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 11.1%, a 3.2% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs 14.1%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $29.1M). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 9.2%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
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.
ANIP vs BMI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $234.1M |
| Net Profit | $27.5M | $33.6M |
| Gross Margin | — | 39.7% |
| Operating Margin | 14.1% | 18.4% |
| Net Margin | 11.1% | 14.3% |
| Revenue YoY | 29.6% | 14.1% |
| Net Profit YoY | 367.5% | 9.3% |
| EPS (diluted) | $1.14 | $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 | $247.1M | $234.1M | ||
| Q3 25 | $227.8M | $222.2M | ||
| Q2 25 | $211.4M | $238.1M | ||
| Q1 25 | $197.1M | $222.2M | ||
| Q4 24 | $190.6M | $205.2M | ||
| Q3 24 | $148.3M | $208.4M | ||
| Q2 24 | $138.0M | $216.7M | ||
| Q1 24 | $137.4M | $196.3M |
| Q4 25 | $27.5M | $33.6M | ||
| Q3 25 | $26.6M | $35.1M | ||
| Q2 25 | $8.5M | $34.6M | ||
| Q1 25 | $15.7M | $38.4M | ||
| Q4 24 | $-10.3M | $30.7M | ||
| Q3 24 | $-24.2M | $32.0M | ||
| Q2 24 | $-2.3M | $33.1M | ||
| Q1 24 | $18.2M | $29.1M |
| Q4 25 | — | 39.7% | ||
| Q3 25 | — | 43.1% | ||
| Q2 25 | — | 41.1% | ||
| Q1 25 | — | 42.9% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 40.2% | ||
| Q2 24 | — | 39.4% | ||
| Q1 24 | — | 39.3% |
| Q4 25 | 14.1% | 18.4% | ||
| Q3 25 | 15.9% | 20.7% | ||
| Q2 25 | 6.6% | 18.8% | ||
| Q1 25 | 13.3% | 22.2% | ||
| Q4 24 | -2.3% | 19.1% | ||
| Q3 24 | -13.8% | 19.5% | ||
| Q2 24 | 3.7% | 19.2% | ||
| Q1 24 | 14.8% | 18.6% |
| Q4 25 | 11.1% | 14.3% | ||
| Q3 25 | 11.7% | 15.8% | ||
| Q2 25 | 4.0% | 14.5% | ||
| Q1 25 | 8.0% | 17.3% | ||
| Q4 24 | -5.4% | 15.0% | ||
| Q3 24 | -16.3% | 15.4% | ||
| Q2 24 | -1.7% | 15.3% | ||
| Q1 24 | 13.2% | 14.8% |
| Q4 25 | $1.14 | $1.13 | ||
| Q3 25 | $1.13 | $1.19 | ||
| Q2 25 | $0.36 | $1.17 | ||
| Q1 25 | $0.69 | $1.30 | ||
| Q4 24 | $-0.45 | $1.04 | ||
| Q3 24 | $-1.27 | $1.08 | ||
| Q2 24 | $-0.14 | $1.12 | ||
| Q1 24 | $0.82 | $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 | $285.6M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $540.7M | $713.3M |
| Total Assets | $1.4B | $973.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $285.6M | — | ||
| Q3 25 | $262.6M | — | ||
| Q2 25 | $217.8M | — | ||
| Q1 25 | $149.8M | — | ||
| Q4 24 | $144.9M | — | ||
| Q3 24 | $145.0M | — | ||
| Q2 24 | $240.1M | — | ||
| Q1 24 | $228.6M | — |
| Q4 25 | $540.7M | $713.3M | ||
| Q3 25 | $505.8M | $702.5M | ||
| Q2 25 | $436.8M | $677.6M | ||
| Q1 25 | $418.6M | $641.7M | ||
| Q4 24 | $403.7M | $606.2M | ||
| Q3 24 | $405.9M | $591.2M | ||
| Q2 24 | $455.8M | $563.1M | ||
| Q1 24 | $452.0M | $535.6M |
| Q4 25 | $1.4B | $973.6M | ||
| Q3 25 | $1.4B | $978.3M | ||
| Q2 25 | $1.3B | $936.4M | ||
| Q1 25 | $1.3B | $899.6M | ||
| Q4 24 | $1.3B | $816.4M | ||
| Q3 24 | $1.3B | $802.9M | ||
| Q2 24 | $920.8M | $781.3M | ||
| Q1 24 | $914.5M | $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 | $30.4M | $54.8M |
| Free Cash FlowOCF − Capex | $29.1M | $50.8M |
| FCF MarginFCF / Revenue | 11.8% | 21.7% |
| Capex IntensityCapex / Revenue | 0.5% | 1.7% |
| Cash ConversionOCF / Net Profit | 1.10× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | $169.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.4M | $54.8M | ||
| Q3 25 | $44.1M | $51.3M | ||
| Q2 25 | $75.8M | $44.6M | ||
| Q1 25 | $35.0M | $33.0M | ||
| Q4 24 | $15.9M | $52.1M | ||
| Q3 24 | $12.5M | $45.1M | ||
| Q2 24 | $17.4M | $36.4M | ||
| Q1 24 | $18.3M | $21.5M |
| Q4 25 | $29.1M | $50.8M | ||
| Q3 25 | $38.0M | $48.2M | ||
| Q2 25 | $71.8M | $40.6M | ||
| Q1 25 | $32.5M | $30.1M | ||
| Q4 24 | $13.5M | $47.4M | ||
| Q3 24 | $7.7M | $42.0M | ||
| Q2 24 | $13.0M | $34.1M | ||
| Q1 24 | $13.7M | $18.8M |
| Q4 25 | 11.8% | 21.7% | ||
| Q3 25 | 16.7% | 21.7% | ||
| Q2 25 | 34.0% | 17.1% | ||
| Q1 25 | 16.5% | 13.5% | ||
| Q4 24 | 7.1% | 23.1% | ||
| Q3 24 | 5.2% | 20.1% | ||
| Q2 24 | 9.4% | 15.7% | ||
| Q1 24 | 10.0% | 9.6% |
| Q4 25 | 0.5% | 1.7% | ||
| Q3 25 | 2.7% | 1.4% | ||
| Q2 25 | 1.9% | 1.7% | ||
| Q1 25 | 1.3% | 1.3% | ||
| Q4 24 | 1.3% | 2.3% | ||
| Q3 24 | 3.2% | 1.5% | ||
| Q2 24 | 3.2% | 1.1% | ||
| Q1 24 | 3.3% | 1.4% |
| Q4 25 | 1.10× | 1.63× | ||
| Q3 25 | 1.66× | 1.46× | ||
| Q2 25 | 8.87× | 1.29× | ||
| Q1 25 | 2.23× | 0.86× | ||
| Q4 24 | — | 1.70× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.10× | ||
| Q1 24 | 1.00× | 0.74× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
