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Side-by-side financial comparison of AVANOS MEDICAL, INC. (AVNS) 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 $180.9M, roughly 1.3× AVANOS MEDICAL, INC.). BADGER METER INC runs the higher net margin — 14.3% vs -0.7%, a 15.1% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 0.7%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $21.3M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 4.4%).
Avanos Medical, Inc. is a medical technology company making clinical medical devices. The company consists of two franchises – Pain Management and Chronic Care – that address reducing the use of opioids while helping patients recover faster and preventing infection.
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.
AVNS vs BMI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $180.9M | $234.1M |
| Net Profit | $-1.3M | $33.6M |
| Gross Margin | 47.5% | 39.7% |
| Operating Margin | 1.4% | 18.4% |
| Net Margin | -0.7% | 14.3% |
| Revenue YoY | 0.7% | 14.1% |
| Net Profit YoY | 99.7% | 9.3% |
| EPS (diluted) | $-0.02 | $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 | $180.9M | $234.1M | ||
| Q3 25 | $177.8M | $222.2M | ||
| Q2 25 | $175.0M | $238.1M | ||
| Q1 25 | $167.5M | $222.2M | ||
| Q4 24 | $179.6M | $205.2M | ||
| Q3 24 | $170.4M | $208.4M | ||
| Q2 24 | $171.7M | $216.7M | ||
| Q1 24 | $166.1M | $196.3M |
| Q4 25 | $-1.3M | $33.6M | ||
| Q3 25 | $-1.4M | $35.1M | ||
| Q2 25 | $-76.8M | $34.6M | ||
| Q1 25 | $6.6M | $38.4M | ||
| Q4 24 | $-397.3M | $30.7M | ||
| Q3 24 | $4.3M | $32.0M | ||
| Q2 24 | $1.8M | $33.1M | ||
| Q1 24 | $-900.0K | $29.1M |
| Q4 25 | 47.5% | 39.7% | ||
| Q3 25 | 48.4% | 43.1% | ||
| Q2 25 | 52.6% | 41.1% | ||
| Q1 25 | 53.6% | 42.9% | ||
| Q4 24 | 54.6% | 40.3% | ||
| Q3 24 | 54.5% | 40.2% | ||
| Q2 24 | 55.7% | 39.4% | ||
| Q1 24 | 57.1% | 39.3% |
| Q4 25 | 1.4% | 18.4% | ||
| Q3 25 | 0.1% | 20.7% | ||
| Q2 25 | -42.6% | 18.8% | ||
| Q1 25 | 6.1% | 22.2% | ||
| Q4 24 | -233.0% | 19.1% | ||
| Q3 24 | 7.0% | 19.5% | ||
| Q2 24 | 3.7% | 19.2% | ||
| Q1 24 | 2.4% | 18.6% |
| Q4 25 | -0.7% | 14.3% | ||
| Q3 25 | -0.8% | 15.8% | ||
| Q2 25 | -43.9% | 14.5% | ||
| Q1 25 | 3.9% | 17.3% | ||
| Q4 24 | -221.2% | 15.0% | ||
| Q3 24 | 2.5% | 15.4% | ||
| Q2 24 | 1.0% | 15.3% | ||
| Q1 24 | -0.5% | 14.8% |
| Q4 25 | $-0.02 | $1.13 | ||
| Q3 25 | $-0.03 | $1.19 | ||
| Q2 25 | $-1.66 | $1.17 | ||
| Q1 25 | $0.14 | $1.30 | ||
| Q4 24 | $-8.64 | $1.04 | ||
| Q3 24 | $0.09 | $1.08 | ||
| Q2 24 | $0.04 | $1.12 | ||
| Q1 24 | $-0.02 | $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 | $89.8M | — |
| Total DebtLower is stronger | $90.3M | — |
| Stockholders' EquityBook value | $778.2M | $713.3M |
| Total Assets | $1.1B | $973.6M |
| Debt / EquityLower = less leverage | 0.12× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $89.8M | — | ||
| Q3 25 | $70.5M | — | ||
| Q2 25 | $90.3M | — | ||
| Q1 25 | $97.0M | — | ||
| Q4 24 | $107.7M | — | ||
| Q3 24 | $89.0M | — | ||
| Q2 24 | $92.2M | — | ||
| Q1 24 | $75.8M | — |
| Q4 25 | $90.3M | — | ||
| Q3 25 | $93.4M | — | ||
| Q2 25 | $95.7M | — | ||
| Q1 25 | $98.0M | — | ||
| Q4 24 | $125.3M | — | ||
| Q3 24 | $152.6M | — | ||
| Q2 24 | $164.9M | — | ||
| Q1 24 | $167.2M | — |
| Q4 25 | $778.2M | $713.3M | ||
| Q3 25 | $778.0M | $702.5M | ||
| Q2 25 | $776.3M | $677.6M | ||
| Q1 25 | $839.4M | $641.7M | ||
| Q4 24 | $828.5M | $606.2M | ||
| Q3 24 | $1.2B | $591.2M | ||
| Q2 24 | $1.2B | $563.1M | ||
| Q1 24 | $1.2B | $535.6M |
| Q4 25 | $1.1B | $973.6M | ||
| Q3 25 | $1.1B | $978.3M | ||
| Q2 25 | $1.0B | $936.4M | ||
| Q1 25 | $1.1B | $899.6M | ||
| Q4 24 | $1.2B | $816.4M | ||
| Q3 24 | $1.7B | $802.9M | ||
| Q2 24 | $1.7B | $781.3M | ||
| Q1 24 | $1.7B | $743.5M |
| Q4 25 | 0.12× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | 0.12× | — | ||
| Q2 24 | 0.13× | — | ||
| Q1 24 | 0.14× | — |
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 | $28.2M | $54.8M |
| Free Cash FlowOCF − Capex | $21.3M | $50.8M |
| FCF MarginFCF / Revenue | 11.8% | 21.7% |
| Capex IntensityCapex / Revenue | 3.8% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $43.1M | $169.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.2M | $54.8M | ||
| Q3 25 | $14.0M | $51.3M | ||
| Q2 25 | $6.8M | $44.6M | ||
| Q1 25 | $25.7M | $33.0M | ||
| Q4 24 | $57.9M | $52.1M | ||
| Q3 24 | $23.0M | $45.1M | ||
| Q2 24 | $27.8M | $36.4M | ||
| Q1 24 | $-8.0M | $21.5M |
| Q4 25 | $21.3M | $50.8M | ||
| Q3 25 | $7.0M | $48.2M | ||
| Q2 25 | $-4.2M | $40.6M | ||
| Q1 25 | $19.0M | $30.1M | ||
| Q4 24 | $53.1M | $47.4M | ||
| Q3 24 | $20.0M | $42.0M | ||
| Q2 24 | $21.9M | $34.1M | ||
| Q1 24 | $-12.1M | $18.8M |
| Q4 25 | 11.8% | 21.7% | ||
| Q3 25 | 3.9% | 21.7% | ||
| Q2 25 | -2.4% | 17.1% | ||
| Q1 25 | 11.3% | 13.5% | ||
| Q4 24 | 29.6% | 23.1% | ||
| Q3 24 | 11.7% | 20.1% | ||
| Q2 24 | 12.8% | 15.7% | ||
| Q1 24 | -7.3% | 9.6% |
| Q4 25 | 3.8% | 1.7% | ||
| Q3 25 | 3.9% | 1.4% | ||
| Q2 25 | 6.3% | 1.7% | ||
| Q1 25 | 4.0% | 1.3% | ||
| Q4 24 | 2.7% | 2.3% | ||
| Q3 24 | 1.8% | 1.5% | ||
| Q2 24 | 3.4% | 1.1% | ||
| Q1 24 | 2.5% | 1.4% |
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | 3.89× | 0.86× | ||
| Q4 24 | — | 1.70× | ||
| Q3 24 | 5.35× | 1.41× | ||
| Q2 24 | 15.44× | 1.10× | ||
| Q1 24 | — | 0.74× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVNS
| Enteral Feeding | $83.0M | 46% |
| Radiofrequency Ablation | $36.9M | 20% |
| Neonate Solutions | $32.1M | 18% |
| Surgical Pain And Recovery | $24.7M | 14% |
| Corporate Other | $4.2M | 2% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
