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Side-by-side financial comparison of BADGER METER INC (BMI) and GCM Grosvenor Inc. (GCMG). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $177.1M, roughly 1.3× GCM Grosvenor Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs 14.3%, a 18.5% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 7.2%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $50.8M). Over the past eight quarters, GCM Grosvenor Inc.'s revenue compounded faster (27.5% 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.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
BMI vs GCMG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $177.1M |
| Net Profit | $33.6M | $58.2M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 30.9% |
| Net Margin | 14.3% | 32.8% |
| Revenue YoY | 14.1% | 7.2% |
| Net Profit YoY | 9.3% | 149.2% |
| EPS (diluted) | $1.13 | $0.23 |
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 | $177.1M | ||
| Q3 25 | $222.2M | $135.0M | ||
| Q2 25 | $238.1M | $119.7M | ||
| Q1 25 | $222.2M | $125.8M | ||
| Q4 24 | $205.2M | $165.3M | ||
| Q3 24 | $208.4M | $122.9M | ||
| Q2 24 | $216.7M | $117.0M | ||
| Q1 24 | $196.3M | $108.9M |
| Q4 25 | $33.6M | $58.2M | ||
| Q3 25 | $35.1M | $10.5M | ||
| Q2 25 | $34.6M | $15.4M | ||
| Q1 25 | $38.4M | $463.0K | ||
| Q4 24 | $30.7M | $7.6M | ||
| Q3 24 | $32.0M | $4.2M | ||
| Q2 24 | $33.1M | $4.8M | ||
| Q1 24 | $29.1M | $2.1M |
| 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% | 30.9% | ||
| Q3 25 | 20.7% | 32.7% | ||
| Q2 25 | 18.8% | 16.1% | ||
| Q1 25 | 22.2% | 12.2% | ||
| Q4 24 | 19.1% | 26.4% | ||
| Q3 24 | 19.5% | 20.3% | ||
| Q2 24 | 19.2% | 17.8% | ||
| Q1 24 | 18.6% | -14.7% |
| Q4 25 | 14.3% | 32.8% | ||
| Q3 25 | 15.8% | 7.8% | ||
| Q2 25 | 14.5% | 12.9% | ||
| Q1 25 | 17.3% | 0.4% | ||
| Q4 24 | 15.0% | 4.6% | ||
| Q3 24 | 15.4% | 3.4% | ||
| Q2 24 | 15.3% | 4.1% | ||
| Q1 24 | 14.8% | 2.0% |
| Q4 25 | $1.13 | $0.23 | ||
| Q3 25 | $1.19 | $0.16 | ||
| Q2 25 | $1.17 | $0.05 | ||
| Q1 25 | $1.30 | $-0.02 | ||
| Q4 24 | $1.04 | $0.09 | ||
| Q3 24 | $1.08 | $0.03 | ||
| Q2 24 | $1.12 | $0.04 | ||
| Q1 24 | $0.99 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $242.1M |
| Total DebtLower is stronger | — | $428.4M |
| Stockholders' EquityBook value | $713.3M | $27.0M |
| Total Assets | $973.6M | $813.8M |
| Debt / EquityLower = less leverage | — | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $242.1M | ||
| Q3 25 | — | $182.7M | ||
| Q2 25 | — | $136.3M | ||
| Q1 25 | — | $94.5M | ||
| Q4 24 | — | $89.5M | ||
| Q3 24 | — | $98.4M | ||
| Q2 24 | — | $73.9M | ||
| Q1 24 | — | $41.9M |
| Q4 25 | — | $428.4M | ||
| Q3 25 | — | $429.3M | ||
| Q2 25 | — | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | — | $432.0M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $433.8M | ||
| Q1 24 | — | $384.0M |
| Q4 25 | $713.3M | $27.0M | ||
| Q3 25 | $702.5M | $-7.4M | ||
| Q2 25 | $677.6M | $-12.3M | ||
| Q1 25 | $641.7M | $-28.3M | ||
| Q4 24 | $606.2M | $-27.6M | ||
| Q3 24 | $591.2M | $-31.9M | ||
| Q2 24 | $563.1M | $-28.5M | ||
| Q1 24 | $535.6M | $-26.4M |
| Q4 25 | $973.6M | $813.8M | ||
| Q3 25 | $978.3M | $685.9M | ||
| Q2 25 | $936.4M | $636.9M | ||
| Q1 25 | $899.6M | $579.8M | ||
| Q4 24 | $816.4M | $612.7M | ||
| Q3 24 | $802.9M | $575.0M | ||
| Q2 24 | $781.3M | $543.9M | ||
| Q1 24 | $743.5M | $497.3M |
| Q4 25 | — | 15.87× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $183.5M |
| Free Cash FlowOCF − Capex | $50.8M | $175.0M |
| FCF MarginFCF / Revenue | 21.7% | 98.8% |
| Capex IntensityCapex / Revenue | 1.7% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.63× | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $183.5M | ||
| Q3 25 | $51.3M | $79.8M | ||
| Q2 25 | $44.6M | $42.0M | ||
| Q1 25 | $33.0M | $33.3M | ||
| Q4 24 | $52.1M | $148.8M | ||
| Q3 24 | $45.1M | $69.0M | ||
| Q2 24 | $36.4M | $17.5M | ||
| Q1 24 | $21.5M | $24.2M |
| Q4 25 | $50.8M | $175.0M | ||
| Q3 25 | $48.2M | $78.3M | ||
| Q2 25 | $40.6M | $40.8M | ||
| Q1 25 | $30.1M | $32.1M | ||
| Q4 24 | $47.4M | $132.0M | ||
| Q3 24 | $42.0M | $62.2M | ||
| Q2 24 | $34.1M | $12.8M | ||
| Q1 24 | $18.8M | $20.0M |
| Q4 25 | 21.7% | 98.8% | ||
| Q3 25 | 21.7% | 58.0% | ||
| Q2 25 | 17.1% | 34.1% | ||
| Q1 25 | 13.5% | 25.5% | ||
| Q4 24 | 23.1% | 79.9% | ||
| Q3 24 | 20.1% | 50.6% | ||
| Q2 24 | 15.7% | 10.9% | ||
| Q1 24 | 9.6% | 18.4% |
| Q4 25 | 1.7% | 4.8% | ||
| Q3 25 | 1.4% | 1.1% | ||
| Q2 25 | 1.7% | 1.0% | ||
| Q1 25 | 1.3% | 0.9% | ||
| Q4 24 | 2.3% | 10.1% | ||
| Q3 24 | 1.5% | 5.5% | ||
| Q2 24 | 1.1% | 4.0% | ||
| Q1 24 | 1.4% | 3.9% |
| Q4 25 | 1.63× | 3.16× | ||
| Q3 25 | 1.46× | 7.61× | ||
| Q2 25 | 1.29× | 2.72× | ||
| Q1 25 | 0.86× | 71.84× | ||
| Q4 24 | 1.70× | 19.54× | ||
| Q3 24 | 1.41× | 16.60× | ||
| Q2 24 | 1.10× | 3.64× | ||
| Q1 24 | 0.74× | 11.40× |
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% |
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
