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Side-by-side financial comparison of BADGER METER INC (BMI) and Enhabit, Inc. (EHAB). Click either name above to swap in a different company.
Enhabit, Inc. is the larger business by last-quarter revenue ($270.4M vs $234.1M, roughly 1.2× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs -14.3%, a 28.7% 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 $3.3M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 1.5%).
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.
Enhabit, Inc., is a Dallas, Texas-based provider of home health and hospice services. The company operates 255 home health and 110 hospice locations in 34 states with a concentration in Texas, Alabama, Florida, Georgia, Oklahoma and Mississippi. Enhabit is the fourth-largest provider of home health services in the United States and is a leading provider of hospice services. The company was formed in 2022 when Encompass Health spun off its home health and hospice business.
BMI vs EHAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $270.4M |
| Net Profit | $33.6M | $-38.7M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | -12.3% |
| Net Margin | 14.3% | -14.3% |
| Revenue YoY | 14.1% | 4.7% |
| Net Profit YoY | 9.3% | 15.9% |
| EPS (diluted) | $1.13 | $-0.76 |
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 | $270.4M | ||
| Q3 25 | $222.2M | $263.6M | ||
| Q2 25 | $238.1M | $266.1M | ||
| Q1 25 | $222.2M | $259.9M | ||
| Q4 24 | $205.2M | $258.2M | ||
| Q3 24 | $208.4M | $253.6M | ||
| Q2 24 | $216.7M | $260.6M | ||
| Q1 24 | $196.3M | $262.4M |
| Q4 25 | $33.6M | $-38.7M | ||
| Q3 25 | $35.1M | $11.1M | ||
| Q2 25 | $34.6M | $5.2M | ||
| Q1 25 | $38.4M | $17.8M | ||
| Q4 24 | $30.7M | $-46.0M | ||
| Q3 24 | $32.0M | $-110.2M | ||
| Q2 24 | $33.1M | $-200.0K | ||
| Q1 24 | $29.1M | $200.0K |
| 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 | 18.4% | -12.3% | ||
| Q3 25 | 20.7% | 6.4% | ||
| Q2 25 | 18.8% | 6.3% | ||
| Q1 25 | 22.2% | 6.1% | ||
| Q4 24 | 19.1% | -16.0% | ||
| Q3 24 | 19.5% | -38.6% | ||
| Q2 24 | 19.2% | 4.3% | ||
| Q1 24 | 18.6% | 4.9% |
| Q4 25 | 14.3% | -14.3% | ||
| Q3 25 | 15.8% | 4.2% | ||
| Q2 25 | 14.5% | 2.0% | ||
| Q1 25 | 17.3% | 6.8% | ||
| Q4 24 | 15.0% | -17.8% | ||
| Q3 24 | 15.4% | -43.5% | ||
| Q2 24 | 15.3% | -0.1% | ||
| Q1 24 | 14.8% | 0.1% |
| Q4 25 | $1.13 | $-0.76 | ||
| Q3 25 | $1.19 | $0.22 | ||
| Q2 25 | $1.17 | $0.10 | ||
| Q1 25 | $1.30 | $0.35 | ||
| Q4 24 | $1.04 | $-0.92 | ||
| Q3 24 | $1.08 | $-2.20 | ||
| Q2 24 | $1.12 | $0.00 | ||
| Q1 24 | $0.99 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $43.6M |
| Total DebtLower is stronger | — | $426.0M |
| Stockholders' EquityBook value | $713.3M | $534.0M |
| Total Assets | $973.6M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.80× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $43.6M | ||
| Q3 25 | — | $56.9M | ||
| Q2 25 | — | $37.1M | ||
| Q1 25 | — | $39.5M | ||
| Q4 24 | — | $28.4M | ||
| Q3 24 | — | $45.7M | ||
| Q2 24 | — | $28.5M | ||
| Q1 24 | — | $36.5M |
| Q4 25 | — | $426.0M | ||
| Q3 25 | — | $441.5M | ||
| Q2 25 | — | $456.9M | ||
| Q1 25 | — | $467.3M | ||
| Q4 24 | — | $492.6M | ||
| Q3 24 | — | $502.9M | ||
| Q2 24 | — | $512.7M | ||
| Q1 24 | — | $526.7M |
| Q4 25 | $713.3M | $534.0M | ||
| Q3 25 | $702.5M | $566.8M | ||
| Q2 25 | $677.6M | $552.4M | ||
| Q1 25 | $641.7M | $543.2M | ||
| Q4 24 | $606.2M | $523.5M | ||
| Q3 24 | $591.2M | $566.1M | ||
| Q2 24 | $563.1M | $674.3M | ||
| Q1 24 | $535.6M | $672.3M |
| Q4 25 | $973.6M | $1.2B | ||
| Q3 25 | $978.3M | $1.2B | ||
| Q2 25 | $936.4M | $1.2B | ||
| Q1 25 | $899.6M | $1.2B | ||
| Q4 24 | $816.4M | $1.2B | ||
| Q3 24 | $802.9M | $1.3B | ||
| Q2 24 | $781.3M | $1.4B | ||
| Q1 24 | $743.5M | $1.4B |
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.83× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 0.89× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | $4.4M |
| Free Cash FlowOCF − Capex | $50.8M | $3.3M |
| FCF MarginFCF / Revenue | 21.7% | 1.2% |
| Capex IntensityCapex / Revenue | 1.7% | 0.4% |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $65.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $4.4M | ||
| Q3 25 | $51.3M | $37.8M | ||
| Q2 25 | $44.6M | $10.6M | ||
| Q1 25 | $33.0M | $17.9M | ||
| Q4 24 | $52.1M | $-4.1M | ||
| Q3 24 | $45.1M | $28.4M | ||
| Q2 24 | $36.4M | $9.6M | ||
| Q1 24 | $21.5M | $17.3M |
| Q4 25 | $50.8M | $3.3M | ||
| Q3 25 | $48.2M | $36.2M | ||
| Q2 25 | $40.6M | $8.7M | ||
| Q1 25 | $30.1M | $17.6M | ||
| Q4 24 | $47.4M | $-4.7M | ||
| Q3 24 | $42.0M | $27.7M | ||
| Q2 24 | $34.1M | $8.9M | ||
| Q1 24 | $18.8M | $15.5M |
| Q4 25 | 21.7% | 1.2% | ||
| Q3 25 | 21.7% | 13.7% | ||
| Q2 25 | 17.1% | 3.3% | ||
| Q1 25 | 13.5% | 6.8% | ||
| Q4 24 | 23.1% | -1.8% | ||
| Q3 24 | 20.1% | 10.9% | ||
| Q2 24 | 15.7% | 3.4% | ||
| Q1 24 | 9.6% | 5.9% |
| Q4 25 | 1.7% | 0.4% | ||
| Q3 25 | 1.4% | 0.6% | ||
| Q2 25 | 1.7% | 0.7% | ||
| Q1 25 | 1.3% | 0.1% | ||
| Q4 24 | 2.3% | 0.2% | ||
| Q3 24 | 1.5% | 0.3% | ||
| Q2 24 | 1.1% | 0.3% | ||
| Q1 24 | 1.4% | 0.7% |
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | 3.41× | ||
| Q2 25 | 1.29× | 2.04× | ||
| Q1 25 | 0.86× | 1.01× | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.10× | — | ||
| Q1 24 | 0.74× | 86.50× |
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% |
EHAB
| Third Party Payor Medicare | $111.6M | 41% |
| Third Party Payor Medicare Advantage | $67.5M | 25% |
| Hospice Segment | $63.6M | 24% |
| Third Party Payor Managed Care | $24.9M | 9% |
| Third Party Payor Medicaid | $1.7M | 1% |
