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Side-by-side financial comparison of B&G Foods, Inc. (BGS) and BADGER METER INC (BMI). Click either name above to swap in a different company.
B&G Foods, Inc. is the larger business by last-quarter revenue ($439.3M vs $234.1M, roughly 1.9× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs -4.4%, a 18.7% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs -4.7%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $-70.7M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs -12.8%).
B&G Foods, Inc. is an American branded foods holding company based in Parsippany, New Jersey. The company was formed in 1996 to acquire Bloch & Guggenheimer, a Manhattan-based producer of pickles, relish and condiments which had been founded in 1889.
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.
BGS vs BMI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $439.3M | $234.1M |
| Net Profit | $-19.1M | $33.6M |
| Gross Margin | 22.5% | 39.7% |
| Operating Margin | 2.5% | 18.4% |
| Net Margin | -4.4% | 14.3% |
| Revenue YoY | -4.7% | 14.1% |
| Net Profit YoY | -356.5% | 9.3% |
| EPS (diluted) | $-0.24 | $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 | — | $234.1M | ||
| Q3 25 | $439.3M | $222.2M | ||
| Q2 25 | $424.4M | $238.1M | ||
| Q1 25 | $425.4M | $222.2M | ||
| Q4 24 | $551.6M | $205.2M | ||
| Q3 24 | $461.1M | $208.4M | ||
| Q2 24 | $444.6M | $216.7M | ||
| Q1 24 | $475.2M | $196.3M |
| Q4 25 | — | $33.6M | ||
| Q3 25 | $-19.1M | $35.1M | ||
| Q2 25 | $-9.8M | $34.6M | ||
| Q1 25 | $835.0K | $38.4M | ||
| Q4 24 | $-222.4M | $30.7M | ||
| Q3 24 | $7.5M | $32.0M | ||
| Q2 24 | $3.9M | $33.1M | ||
| Q1 24 | $-40.2M | $29.1M |
| Q4 25 | — | 39.7% | ||
| Q3 25 | 22.5% | 43.1% | ||
| Q2 25 | 20.5% | 41.1% | ||
| Q1 25 | 21.2% | 42.9% | ||
| Q4 24 | 21.5% | 40.3% | ||
| Q3 24 | 22.2% | 40.2% | ||
| Q2 24 | 20.7% | 39.4% | ||
| Q1 24 | 22.9% | 39.3% |
| Q4 25 | — | 18.4% | ||
| Q3 25 | 2.5% | 20.7% | ||
| Q2 25 | 5.2% | 18.8% | ||
| Q1 25 | 8.4% | 22.2% | ||
| Q4 24 | -46.6% | 19.1% | ||
| Q3 24 | 11.1% | 19.5% | ||
| Q2 24 | 9.9% | 19.2% | ||
| Q1 24 | -3.3% | 18.6% |
| Q4 25 | — | 14.3% | ||
| Q3 25 | -4.4% | 15.8% | ||
| Q2 25 | -2.3% | 14.5% | ||
| Q1 25 | 0.2% | 17.3% | ||
| Q4 24 | -40.3% | 15.0% | ||
| Q3 24 | 1.6% | 15.4% | ||
| Q2 24 | 0.9% | 15.3% | ||
| Q1 24 | -8.5% | 14.8% |
| Q4 25 | — | $1.13 | ||
| Q3 25 | $-0.24 | $1.19 | ||
| Q2 25 | $-0.12 | $1.17 | ||
| Q1 25 | $0.01 | $1.30 | ||
| Q4 24 | $-2.81 | $1.04 | ||
| Q3 24 | $0.09 | $1.08 | ||
| Q2 24 | $0.05 | $1.12 | ||
| Q1 24 | $-0.51 | $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 | $60.9M | — |
| Total DebtLower is stronger | $2.0B | — |
| Stockholders' EquityBook value | $470.7M | $713.3M |
| Total Assets | $2.9B | $973.6M |
| Debt / EquityLower = less leverage | 4.30× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $60.9M | — | ||
| Q2 25 | $54.1M | — | ||
| Q1 25 | $61.2M | — | ||
| Q4 24 | $50.6M | — | ||
| Q3 24 | $54.7M | — | ||
| Q2 24 | $40.3M | — | ||
| Q1 24 | $42.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | — |
| Q4 25 | — | $713.3M | ||
| Q3 25 | $470.7M | $702.5M | ||
| Q2 25 | $501.4M | $677.6M | ||
| Q1 25 | $513.1M | $641.7M | ||
| Q4 24 | $524.8M | $606.2M | ||
| Q3 24 | $755.3M | $591.2M | ||
| Q2 24 | $765.0M | $563.1M | ||
| Q1 24 | $781.2M | $535.6M |
| Q4 25 | — | $973.6M | ||
| Q3 25 | $2.9B | $978.3M | ||
| Q2 25 | $2.9B | $936.4M | ||
| Q1 25 | $3.0B | $899.6M | ||
| Q4 24 | $3.0B | $816.4M | ||
| Q3 24 | $3.4B | $802.9M | ||
| Q2 24 | $3.4B | $781.3M | ||
| Q1 24 | $3.4B | $743.5M |
| Q4 25 | — | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.91× | — | ||
| Q4 24 | 3.85× | — | ||
| Q3 24 | 2.75× | — | ||
| Q2 24 | 2.67× | — | ||
| Q1 24 | 2.61× | — |
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 | $-64.6M | $54.8M |
| Free Cash FlowOCF − Capex | $-70.7M | $50.8M |
| FCF MarginFCF / Revenue | -16.1% | 21.7% |
| Capex IntensityCapex / Revenue | 1.4% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $54.8M | $169.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $54.8M | ||
| Q3 25 | $-64.6M | $51.3M | ||
| Q2 25 | $17.8M | $44.6M | ||
| Q1 25 | $52.7M | $33.0M | ||
| Q4 24 | $80.3M | $52.1M | ||
| Q3 24 | $4.2M | $45.1M | ||
| Q2 24 | $11.3M | $36.4M | ||
| Q1 24 | $35.1M | $21.5M |
| Q4 25 | — | $50.8M | ||
| Q3 25 | $-70.7M | $48.2M | ||
| Q2 25 | $11.5M | $40.6M | ||
| Q1 25 | $42.4M | $30.1M | ||
| Q4 24 | $71.7M | $47.4M | ||
| Q3 24 | $-679.0K | $42.0M | ||
| Q2 24 | $5.2M | $34.1M | ||
| Q1 24 | $27.5M | $18.8M |
| Q4 25 | — | 21.7% | ||
| Q3 25 | -16.1% | 21.7% | ||
| Q2 25 | 2.7% | 17.1% | ||
| Q1 25 | 10.0% | 13.5% | ||
| Q4 24 | 13.0% | 23.1% | ||
| Q3 24 | -0.1% | 20.1% | ||
| Q2 24 | 1.2% | 15.7% | ||
| Q1 24 | 5.8% | 9.6% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | 1.4% | 1.4% | ||
| Q2 25 | 1.5% | 1.7% | ||
| Q1 25 | 2.4% | 1.3% | ||
| Q4 24 | 1.6% | 2.3% | ||
| Q3 24 | 1.0% | 1.5% | ||
| Q2 24 | 1.4% | 1.1% | ||
| Q1 24 | 1.6% | 1.4% |
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | 63.17× | 0.86× | ||
| Q4 24 | — | 1.70× | ||
| Q3 24 | 0.56× | 1.41× | ||
| Q2 24 | 2.87× | 1.10× | ||
| Q1 24 | — | 0.74× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
