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Side-by-side financial comparison of BADGER METER INC (BMI) and EZCORP INC (EZPW). Click either name above to swap in a different company.
EZCORP INC is the larger business by last-quarter revenue ($382.0M vs $234.1M, roughly 1.6× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 11.6%, a 2.7% gap on every dollar of revenue. On growth, EZCORP INC posted the faster year-over-year revenue change (19.3% vs 14.1%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $31.7M). Over the past eight quarters, EZCORP INC's revenue compounded faster (15.6% 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.
EZCORP, Inc. is an American pawn shop operator based in Austin, Texas which provides services across the United States and Latin America. It is a publicly traded company listed on the NASDAQ stock exchange and is the second largest pawn shop operator in the U.S. after Cash America International.
BMI vs EZPW — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $382.0M |
| Net Profit | $33.6M | $44.3M |
| Gross Margin | 39.7% | 58.4% |
| Operating Margin | 18.4% | 15.9% |
| Net Margin | 14.3% | 11.6% |
| Revenue YoY | 14.1% | 19.3% |
| Net Profit YoY | 9.3% | 42.8% |
| EPS (diluted) | $1.13 | $0.55 |
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 | $382.0M | ||
| Q3 25 | $222.2M | $336.8M | ||
| Q2 25 | $238.1M | $311.0M | ||
| Q1 25 | $222.2M | $306.3M | ||
| Q4 24 | $205.2M | $320.2M | ||
| Q3 24 | $208.4M | $294.6M | ||
| Q2 24 | $216.7M | $281.4M | ||
| Q1 24 | $196.3M | $285.6M |
| Q4 25 | $33.6M | $44.3M | ||
| Q3 25 | $35.1M | $26.7M | ||
| Q2 25 | $34.6M | $26.5M | ||
| Q1 25 | $38.4M | $25.4M | ||
| Q4 24 | $30.7M | $31.0M | ||
| Q3 24 | $32.0M | $15.2M | ||
| Q2 24 | $33.1M | $17.9M | ||
| Q1 24 | $29.1M | $21.5M |
| Q4 25 | 39.7% | 58.4% | ||
| Q3 25 | 43.1% | 59.0% | ||
| Q2 25 | 41.1% | 59.1% | ||
| Q1 25 | 42.9% | 58.3% | ||
| Q4 24 | 40.3% | 57.9% | ||
| Q3 24 | 40.2% | 59.5% | ||
| Q2 24 | 39.4% | 59.2% | ||
| Q1 24 | 39.3% | 58.7% |
| Q4 25 | 18.4% | 15.9% | ||
| Q3 25 | 20.7% | 11.0% | ||
| Q2 25 | 18.8% | 11.6% | ||
| Q1 25 | 22.2% | 11.2% | ||
| Q4 24 | 19.1% | 13.1% | ||
| Q3 24 | 19.5% | 8.8% | ||
| Q2 24 | 19.2% | 7.9% | ||
| Q1 24 | 18.6% | 9.6% |
| Q4 25 | 14.3% | 11.6% | ||
| Q3 25 | 15.8% | 7.9% | ||
| Q2 25 | 14.5% | 8.5% | ||
| Q1 25 | 17.3% | 8.3% | ||
| Q4 24 | 15.0% | 9.7% | ||
| Q3 24 | 15.4% | 5.2% | ||
| Q2 24 | 15.3% | 6.4% | ||
| Q1 24 | 14.8% | 7.5% |
| Q4 25 | $1.13 | $0.55 | ||
| Q3 25 | $1.19 | $0.35 | ||
| Q2 25 | $1.17 | $0.34 | ||
| Q1 25 | $1.30 | $0.33 | ||
| Q4 24 | $1.04 | $0.40 | ||
| Q3 24 | $1.08 | $0.20 | ||
| Q2 24 | $1.12 | $0.25 | ||
| Q1 24 | $0.99 | $0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $465.9M |
| Total DebtLower is stronger | — | $518.6M |
| Stockholders' EquityBook value | $713.3M | $1.1B |
| Total Assets | $973.6M | $2.0B |
| Debt / EquityLower = less leverage | — | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $465.9M | ||
| Q3 25 | — | $469.5M | ||
| Q2 25 | — | $472.1M | ||
| Q1 25 | — | $505.2M | ||
| Q4 24 | — | $174.5M | ||
| Q3 24 | — | $170.5M | ||
| Q2 24 | — | $218.0M | ||
| Q1 24 | — | $229.1M |
| Q4 25 | — | $518.6M | ||
| Q3 25 | — | $518.1M | ||
| Q2 25 | — | $517.6M | ||
| Q1 25 | — | $620.5M | ||
| Q4 24 | — | $327.7M | ||
| Q3 24 | — | $327.3M | ||
| Q2 24 | — | $361.3M | ||
| Q1 24 | — | $360.9M |
| Q4 25 | $713.3M | $1.1B | ||
| Q3 25 | $702.5M | $1.0B | ||
| Q2 25 | $677.6M | $990.1M | ||
| Q1 25 | $641.7M | $851.6M | ||
| Q4 24 | $606.2M | $823.9M | ||
| Q3 24 | $591.2M | $804.6M | ||
| Q2 24 | $563.1M | $801.5M | ||
| Q1 24 | $535.6M | $800.4M |
| Q4 25 | $973.6M | $2.0B | ||
| Q3 25 | $978.3M | $2.0B | ||
| Q2 25 | $936.4M | $1.9B | ||
| Q1 25 | $899.6M | $1.8B | ||
| Q4 24 | $816.4M | $1.5B | ||
| Q3 24 | $802.9M | $1.5B | ||
| Q2 24 | $781.3M | $1.5B | ||
| Q1 24 | $743.5M | $1.5B |
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.40× | ||
| Q3 24 | — | 0.41× | ||
| Q2 24 | — | 0.45× | ||
| Q1 24 | — | 0.45× |
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 | $39.1M |
| Free Cash FlowOCF − Capex | $50.8M | $31.7M |
| FCF MarginFCF / Revenue | 21.7% | 8.3% |
| Capex IntensityCapex / Revenue | 1.7% | 2.0% |
| Cash ConversionOCF / Net Profit | 1.63× | 0.88× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $121.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $39.1M | ||
| Q3 25 | $51.3M | $51.3M | ||
| Q2 25 | $44.6M | $34.8M | ||
| Q1 25 | $33.0M | $36.9M | ||
| Q4 24 | $52.1M | $26.0M | ||
| Q3 24 | $45.1M | $43.3M | ||
| Q2 24 | $36.4M | $33.7M | ||
| Q1 24 | $21.5M | $15.1M |
| Q4 25 | $50.8M | $31.7M | ||
| Q3 25 | $48.2M | $35.7M | ||
| Q2 25 | $40.6M | $25.7M | ||
| Q1 25 | $30.1M | $28.6M | ||
| Q4 24 | $47.4M | $20.4M | ||
| Q3 24 | $42.0M | $24.4M | ||
| Q2 24 | $34.1M | $30.5M | ||
| Q1 24 | $18.8M | $8.6M |
| Q4 25 | 21.7% | 8.3% | ||
| Q3 25 | 21.7% | 10.6% | ||
| Q2 25 | 17.1% | 8.3% | ||
| Q1 25 | 13.5% | 9.3% | ||
| Q4 24 | 23.1% | 6.4% | ||
| Q3 24 | 20.1% | 8.3% | ||
| Q2 24 | 15.7% | 10.8% | ||
| Q1 24 | 9.6% | 3.0% |
| Q4 25 | 1.7% | 2.0% | ||
| Q3 25 | 1.4% | 4.6% | ||
| Q2 25 | 1.7% | 2.9% | ||
| Q1 25 | 1.3% | 2.7% | ||
| Q4 24 | 2.3% | 1.8% | ||
| Q3 24 | 1.5% | 6.4% | ||
| Q2 24 | 1.1% | 1.1% | ||
| Q1 24 | 1.4% | 2.3% |
| Q4 25 | 1.63× | 0.88× | ||
| Q3 25 | 1.46× | 1.92× | ||
| Q2 25 | 1.29× | 1.31× | ||
| Q1 25 | 0.86× | 1.45× | ||
| Q4 24 | 1.70× | 0.84× | ||
| Q3 24 | 1.41× | 2.85× | ||
| Q2 24 | 1.10× | 1.88× | ||
| Q1 24 | 0.74× | 0.70× |
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% |
EZPW
| Merchandise | $210.1M | 55% |
| Pawn Service | $131.9M | 35% |
| Jewelry Scrap | $39.9M | 10% |
