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Side-by-side financial comparison of BADGER METER INC (BMI) and Eastern Bankshares, Inc. (EBC). Click either name above to swap in a different company.
Eastern Bankshares, Inc. is the larger business by last-quarter revenue ($295.9M vs $234.1M, roughly 1.3× BADGER METER INC). Eastern Bankshares, Inc. runs the higher net margin — 22.1% vs 14.3%, a 7.7% gap on every dollar of revenue. On growth, Eastern Bankshares, Inc. posted the faster year-over-year revenue change (710.6% vs 14.1%). Over the past eight quarters, Eastern Bankshares, Inc.'s revenue compounded faster (38.6% 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.
Eastern Bank is a bank based in Boston, Massachusetts. Before de-mutualizing in 2020, it was the oldest and largest mutual bank in the United States and the largest community bank in Massachusetts.
BMI vs EBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $295.9M |
| Net Profit | $33.6M | $65.3M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | — |
| Net Margin | 14.3% | 22.1% |
| Revenue YoY | 14.1% | 710.6% |
| Net Profit YoY | 9.3% | -34.4% |
| EPS (diluted) | $1.13 | $0.29 |
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.
| Q1 26 | — | $295.9M | ||
| Q4 25 | $234.1M | $37.5M | ||
| Q3 25 | $222.2M | $241.5M | ||
| Q2 25 | $238.1M | $244.9M | ||
| Q1 25 | $222.2M | $31.1M | ||
| Q4 24 | $205.2M | $216.5M | ||
| Q3 24 | $208.4M | $203.4M | ||
| Q2 24 | $216.7M | $154.0M |
| Q1 26 | — | $65.3M | ||
| Q4 25 | $33.6M | $99.5M | ||
| Q3 25 | $35.1M | $106.1M | ||
| Q2 25 | $34.6M | $100.2M | ||
| Q1 25 | $38.4M | $-217.7M | ||
| Q4 24 | $30.7M | $60.8M | ||
| Q3 24 | $32.0M | $-6.2M | ||
| Q2 24 | $33.1M | $26.3M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 18.4% | — | ||
| Q3 25 | 20.7% | 38.9% | ||
| Q2 25 | 18.8% | 41.0% | ||
| Q1 25 | 22.2% | -590.9% | ||
| Q4 24 | 19.1% | 33.3% | ||
| Q3 24 | 19.5% | -1.6% | ||
| Q2 24 | 19.2% | 24.7% |
| Q1 26 | — | 22.1% | ||
| Q4 25 | 14.3% | 265.6% | ||
| Q3 25 | 15.8% | 44.0% | ||
| Q2 25 | 14.5% | 40.9% | ||
| Q1 25 | 17.3% | -699.2% | ||
| Q4 24 | 15.0% | 28.1% | ||
| Q3 24 | 15.4% | -3.0% | ||
| Q2 24 | 15.3% | 17.1% |
| Q1 26 | — | $0.29 | ||
| Q4 25 | $1.13 | $0.48 | ||
| Q3 25 | $1.19 | $0.53 | ||
| Q2 25 | $1.17 | $0.50 | ||
| Q1 25 | $1.30 | $-1.08 | ||
| Q4 24 | $1.04 | $0.29 | ||
| Q3 24 | $1.08 | $-0.03 | ||
| Q2 24 | $1.12 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $551.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $4.3B |
| Total Assets | $973.6M | $30.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $551.7M | ||
| Q4 25 | — | $507.6M | ||
| Q3 25 | — | $703.4M | ||
| Q2 25 | — | $948.3M | ||
| Q1 25 | — | $609.0M | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.4B |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $713.3M | $4.3B | ||
| Q3 25 | $702.5M | $3.8B | ||
| Q2 25 | $677.6M | $3.7B | ||
| Q1 25 | $641.7M | $3.6B | ||
| Q4 24 | $606.2M | $3.6B | ||
| Q3 24 | $591.2M | $3.7B | ||
| Q2 24 | $563.1M | $3.0B |
| Q1 26 | — | $30.6B | ||
| Q4 25 | $973.6M | $30.6B | ||
| Q3 25 | $978.3M | $25.5B | ||
| Q2 25 | $936.4M | $25.5B | ||
| Q1 25 | $899.6M | $25.0B | ||
| Q4 24 | $816.4M | $25.6B | ||
| Q3 24 | $802.9M | $25.5B | ||
| Q2 24 | $781.3M | $21.0B |
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 | — |
| Free Cash FlowOCF − Capex | $50.8M | — |
| FCF MarginFCF / Revenue | 21.7% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $54.8M | $432.4M | ||
| Q3 25 | $51.3M | $157.1M | ||
| Q2 25 | $44.6M | $123.9M | ||
| Q1 25 | $33.0M | $47.3M | ||
| Q4 24 | $52.1M | $283.8M | ||
| Q3 24 | $45.1M | $108.3M | ||
| Q2 24 | $36.4M | $54.3M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | — | ||
| Q3 25 | $48.2M | — | ||
| Q2 25 | $40.6M | — | ||
| Q1 25 | $30.1M | — | ||
| Q4 24 | $47.4M | — | ||
| Q3 24 | $42.0M | — | ||
| Q2 24 | $34.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 13.5% | — | ||
| Q4 24 | 23.1% | — | ||
| Q3 24 | 20.1% | — | ||
| Q2 24 | 15.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 4.35× | ||
| Q3 25 | 1.46× | 1.48× | ||
| Q2 25 | 1.29× | 1.24× | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.70× | 4.67× | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.10× | 2.06× |
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% |
EBC
Segment breakdown not available.
