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Side-by-side financial comparison of BADGER METER INC (BMI) and Howard Hughes Holdings Inc. (HHH). Click either name above to swap in a different company.
Howard Hughes Holdings Inc. is the larger business by last-quarter revenue ($235.9M vs $234.1M, roughly 1.0× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 3.4%, a 10.9% gap on every dollar of revenue. On growth, Howard Hughes Holdings Inc. posted the faster year-over-year revenue change (18.4% vs 14.1%). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs -13.8%).
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.
Howard Hughes Holdings Inc., formerly the Howard Hughes Corporation, is a real estate development and management company based in The Woodlands, Texas. It was formed in 2010 as a spin-off from General Growth Properties (GGP). Most of its holdings are focused on several master-planned communities. It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.
BMI vs HHH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $235.9M |
| Net Profit | $33.6M | $8.1M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 121.6% |
| Net Margin | 14.3% | 3.4% |
| Revenue YoY | 14.1% | 18.4% |
| Net Profit YoY | 9.3% | -25.6% |
| EPS (diluted) | $1.13 | $0.14 |
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 | — | $235.9M | ||
| Q4 25 | $234.1M | $624.4M | ||
| Q3 25 | $222.2M | $390.2M | ||
| Q2 25 | $238.1M | $260.9M | ||
| Q1 25 | $222.2M | $199.3M | ||
| Q4 24 | $205.2M | $935.0M | ||
| Q3 24 | $208.4M | $327.1M | ||
| Q2 24 | $216.7M | $317.4M |
| Q1 26 | — | $8.1M | ||
| Q4 25 | $33.6M | $6.0M | ||
| Q3 25 | $35.1M | $119.5M | ||
| Q2 25 | $34.6M | $-12.1M | ||
| Q1 25 | $38.4M | $10.5M | ||
| Q4 24 | $30.7M | $156.3M | ||
| Q3 24 | $32.0M | $72.8M | ||
| Q2 24 | $33.1M | $21.1M |
| 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 | — | 121.6% | ||
| Q4 25 | 18.4% | 4.2% | ||
| Q3 25 | 20.7% | 48.6% | ||
| Q2 25 | 18.8% | 26.0% | ||
| Q1 25 | 22.2% | 24.0% | ||
| Q4 24 | 19.1% | 33.5% | ||
| Q3 24 | 19.5% | 60.6% | ||
| Q2 24 | 19.2% | 20.4% |
| Q1 26 | — | 3.4% | ||
| Q4 25 | 14.3% | 1.0% | ||
| Q3 25 | 15.8% | 30.6% | ||
| Q2 25 | 14.5% | -4.7% | ||
| Q1 25 | 17.3% | 5.3% | ||
| Q4 24 | 15.0% | 16.7% | ||
| Q3 24 | 15.4% | 22.2% | ||
| Q2 24 | 15.3% | 6.6% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $1.13 | $0.20 | ||
| Q3 25 | $1.19 | $2.02 | ||
| Q2 25 | $1.17 | $-0.22 | ||
| Q1 25 | $1.30 | $0.21 | ||
| Q4 24 | $1.04 | $3.14 | ||
| Q3 24 | $1.08 | $1.46 | ||
| Q2 24 | $1.12 | $0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.8B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $3.8B |
| Total Assets | $973.6M | $11.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.8B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $493.7M | ||
| Q4 24 | — | $596.1M | ||
| Q3 24 | — | $400.7M | ||
| Q2 24 | — | $436.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $5.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $3.8B | ||
| Q4 25 | $713.3M | $3.8B | ||
| Q3 25 | $702.5M | $3.8B | ||
| Q2 25 | $677.6M | $3.6B | ||
| Q1 25 | $641.7M | $2.8B | ||
| Q4 24 | $606.2M | $2.8B | ||
| Q3 24 | $591.2M | $2.6B | ||
| Q2 24 | $563.1M | $3.0B |
| Q1 26 | — | $11.2B | ||
| Q4 25 | $973.6M | $10.6B | ||
| Q3 25 | $978.3M | $10.7B | ||
| Q2 25 | $936.4M | $10.3B | ||
| Q1 25 | $899.6M | $9.3B | ||
| Q4 24 | $816.4M | $9.2B | ||
| Q3 24 | $802.9M | $9.4B | ||
| Q2 24 | $781.3M | $9.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.85× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 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 | $360.3M | ||
| Q3 25 | $51.3M | $149.8M | ||
| Q2 25 | $44.6M | $177.3M | ||
| Q1 25 | $33.0M | $-224.9M | ||
| Q4 24 | $52.1M | $337.1M | ||
| Q3 24 | $45.1M | $248.3M | ||
| Q2 24 | $36.4M | $-17.5M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $348.6M | ||
| Q3 25 | $48.2M | $137.7M | ||
| Q2 25 | $40.6M | $169.7M | ||
| Q1 25 | $30.1M | $-238.4M | ||
| Q4 24 | $47.4M | $317.1M | ||
| Q3 24 | $42.0M | $238.7M | ||
| Q2 24 | $34.1M | $-25.1M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 55.8% | ||
| Q3 25 | 21.7% | 35.3% | ||
| Q2 25 | 17.1% | 65.1% | ||
| Q1 25 | 13.5% | -119.6% | ||
| Q4 24 | 23.1% | 33.9% | ||
| Q3 24 | 20.1% | 73.0% | ||
| Q2 24 | 15.7% | -7.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 1.9% | ||
| Q3 25 | 1.4% | 3.1% | ||
| Q2 25 | 1.7% | 2.9% | ||
| Q1 25 | 1.3% | 6.8% | ||
| Q4 24 | 2.3% | 2.1% | ||
| Q3 24 | 1.5% | 2.9% | ||
| Q2 24 | 1.1% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 60.04× | ||
| Q3 25 | 1.46× | 1.25× | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | -21.35× | ||
| Q4 24 | 1.70× | 2.16× | ||
| Q3 24 | 1.41× | 3.41× | ||
| Q2 24 | 1.10× | -0.83× |
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% |
HHH
| Rental revenue | $113.5M | 48% |
| Master Planned Communities land sales | $99.6M | 42% |
| Other revenues | $11.0M | 5% |
| Builder price participation | $8.7M | 4% |
| Condominium rights and unit sales | $3.1M | 1% |
