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Side-by-side financial comparison of BADGER METER INC (BMI) and Dolby Laboratories, Inc. (DLB). Click either name above to swap in a different company.
Dolby Laboratories, Inc. is the larger business by last-quarter revenue ($395.6M vs $234.1M, roughly 1.7× BADGER METER INC). Dolby Laboratories, Inc. runs the higher net margin — 24.0% vs 14.3%, a 9.7% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 7.1%). Over the past eight quarters, Dolby Laboratories, Inc.'s revenue compounded faster (13.9% CAGR vs 9.2%).
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.
Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers.
BMI vs DLB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $395.6M |
| Net Profit | $33.6M | $94.9M |
| Gross Margin | 39.7% | 88.7% |
| Operating Margin | 18.4% | 28.5% |
| Net Margin | 14.3% | 24.0% |
| Revenue YoY | 14.1% | 7.1% |
| Net Profit YoY | 9.3% | 3.4% |
| EPS (diluted) | $1.13 | $0.99 |
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.
| Q2 26 | — | $395.6M | ||
| Q1 26 | — | $346.7M | ||
| Q4 25 | $234.1M | $346.7M | ||
| Q3 25 | $222.2M | $307.0M | ||
| Q2 25 | $238.1M | $315.5M | ||
| Q1 25 | $222.2M | $369.6M | ||
| Q4 24 | $205.2M | $357.0M | ||
| Q3 24 | $208.4M | $304.8M |
| Q2 26 | — | $94.9M | ||
| Q1 26 | — | $53.3M | ||
| Q4 25 | $33.6M | $53.3M | ||
| Q3 25 | $35.1M | $49.3M | ||
| Q2 25 | $34.6M | $46.1M | ||
| Q1 25 | $38.4M | $91.8M | ||
| Q4 24 | $30.7M | $67.8M | ||
| Q3 24 | $32.0M | $58.6M |
| Q2 26 | — | 88.7% | ||
| Q1 26 | — | 87.5% | ||
| Q4 25 | 39.7% | 87.5% | ||
| Q3 25 | 43.1% | 87.1% | ||
| Q2 25 | 41.1% | 86.1% | ||
| Q1 25 | 42.9% | 90.3% | ||
| Q4 24 | 40.3% | 88.6% | ||
| Q3 24 | 40.2% | 88.8% |
| Q2 26 | — | 28.5% | ||
| Q1 26 | — | 17.9% | ||
| Q4 25 | 18.4% | 17.9% | ||
| Q3 25 | 20.7% | 9.7% | ||
| Q2 25 | 18.8% | 15.1% | ||
| Q1 25 | 22.2% | 29.2% | ||
| Q4 24 | 19.1% | 22.4% | ||
| Q3 24 | 19.5% | 15.2% |
| Q2 26 | — | 24.0% | ||
| Q1 26 | — | 15.4% | ||
| Q4 25 | 14.3% | 15.4% | ||
| Q3 25 | 15.8% | 16.1% | ||
| Q2 25 | 14.5% | 14.6% | ||
| Q1 25 | 17.3% | 24.8% | ||
| Q4 24 | 15.0% | 19.0% | ||
| Q3 24 | 15.4% | 19.2% |
| Q2 26 | — | $0.99 | ||
| Q1 26 | — | $0.55 | ||
| Q4 25 | $1.13 | $0.55 | ||
| Q3 25 | $1.19 | $0.50 | ||
| Q2 25 | $1.17 | $0.48 | ||
| Q1 25 | $1.30 | $0.94 | ||
| Q4 24 | $1.04 | $0.70 | ||
| Q3 24 | $1.08 | $0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $594.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $2.6B |
| Total Assets | $973.6M | $3.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | $594.7M | ||
| Q1 26 | — | $644.6M | ||
| Q4 25 | — | $644.6M | ||
| Q3 25 | — | $702.6M | ||
| Q2 25 | — | $699.3M | ||
| Q1 25 | — | $626.6M | ||
| Q4 24 | — | $520.8M | ||
| Q3 24 | — | $482.0M |
| Q2 26 | — | $2.6B | ||
| Q1 26 | — | $2.6B | ||
| Q4 25 | $713.3M | $2.6B | ||
| Q3 25 | $702.5M | $2.6B | ||
| Q2 25 | $677.6M | $2.6B | ||
| Q1 25 | $641.7M | $2.6B | ||
| Q4 24 | $606.2M | $2.5B | ||
| Q3 24 | $591.2M | $2.5B |
| Q2 26 | — | $3.2B | ||
| Q1 26 | — | $3.2B | ||
| Q4 25 | $973.6M | $3.2B | ||
| Q3 25 | $978.3M | $3.2B | ||
| Q2 25 | $936.4M | $3.2B | ||
| Q1 25 | $899.6M | $3.2B | ||
| Q4 24 | $816.4M | $3.2B | ||
| Q3 24 | $802.9M | $3.1B |
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 | $54.8M | $147.3M |
| Free Cash FlowOCF − Capex | $50.8M | — |
| FCF MarginFCF / Revenue | 21.7% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 1.63× | 1.55× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | $147.3M | ||
| Q1 26 | — | $54.8M | ||
| Q4 25 | $54.8M | $54.8M | ||
| Q3 25 | $51.3M | $472.2M | ||
| Q2 25 | $44.6M | $67.7M | ||
| Q1 25 | $33.0M | $174.9M | ||
| Q4 24 | $52.1M | $106.8M | ||
| Q3 24 | $45.1M | $327.3M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $50.2M | ||
| Q3 25 | $48.2M | $435.9M | ||
| Q2 25 | $40.6M | $61.3M | ||
| Q1 25 | $30.1M | $168.0M | ||
| Q4 24 | $47.4M | $100.0M | ||
| Q3 24 | $42.0M | $297.2M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 14.5% | ||
| Q3 25 | 21.7% | 142.0% | ||
| Q2 25 | 17.1% | 19.4% | ||
| Q1 25 | 13.5% | 45.5% | ||
| Q4 24 | 23.1% | 28.0% | ||
| Q3 24 | 20.1% | 97.5% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 1.3% | ||
| Q3 25 | 1.4% | 11.8% | ||
| Q2 25 | 1.7% | 2.0% | ||
| Q1 25 | 1.3% | 1.9% | ||
| Q4 24 | 2.3% | 1.9% | ||
| Q3 24 | 1.5% | 9.8% |
| Q2 26 | — | 1.55× | ||
| Q1 26 | — | 1.03× | ||
| Q4 25 | 1.63× | 1.03× | ||
| Q3 25 | 1.46× | 9.57× | ||
| Q2 25 | 1.29× | 1.47× | ||
| Q1 25 | 0.86× | 1.91× | ||
| Q4 24 | 1.70× | 1.57× | ||
| Q3 24 | 1.41× | 5.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
