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Side-by-side financial comparison of BADGER METER INC (BMI) and Hilltop Holdings Inc. (HTH). Click either name above to swap in a different company.
Hilltop Holdings Inc. is the larger business by last-quarter revenue ($300.5M vs $234.1M, roughly 1.3× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 13.0%, a 1.4% gap on every dollar of revenue. Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 0.6%).
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.
Hilltop Holdings Inc. is a financial holding company based in Dallas, Texas. It offers financial products and banking services through three primary subsidiaries: PlainsCapital Bank, PrimeLending, and HilltopSecurities.
BMI vs HTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $300.5M |
| Net Profit | $33.6M | $39.0M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | — |
| Net Margin | 14.3% | 13.0% |
| Revenue YoY | 14.1% | — |
| Net Profit YoY | 9.3% | -12.4% |
| EPS (diluted) | $1.13 | $0.64 |
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 | — | $300.5M | ||
| Q4 25 | $234.1M | $329.9M | ||
| Q3 25 | $222.2M | $330.2M | ||
| Q2 25 | $238.1M | $303.3M | ||
| Q1 25 | $222.2M | $318.5M | ||
| Q4 24 | $205.2M | $301.1M | ||
| Q3 24 | $208.4M | $305.5M | ||
| Q2 24 | $216.7M | $297.0M |
| Q1 26 | — | $39.0M | ||
| Q4 25 | $33.6M | $41.6M | ||
| Q3 25 | $35.1M | $45.8M | ||
| Q2 25 | $34.6M | $36.1M | ||
| Q1 25 | $38.4M | $42.1M | ||
| Q4 24 | $30.7M | $35.5M | ||
| Q3 24 | $32.0M | $29.7M | ||
| Q2 24 | $33.1M | $20.3M |
| 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% | 16.1% | ||
| Q3 25 | 20.7% | 18.4% | ||
| Q2 25 | 18.8% | 16.3% | ||
| Q1 25 | 22.2% | 18.1% | ||
| Q4 24 | 19.1% | 14.7% | ||
| Q3 24 | 19.5% | 13.9% | ||
| Q2 24 | 19.2% | 10.0% |
| Q1 26 | — | 13.0% | ||
| Q4 25 | 14.3% | 12.6% | ||
| Q3 25 | 15.8% | 13.9% | ||
| Q2 25 | 14.5% | 11.9% | ||
| Q1 25 | 17.3% | 13.2% | ||
| Q4 24 | 15.0% | 11.8% | ||
| Q3 24 | 15.4% | 9.7% | ||
| Q2 24 | 15.3% | 6.8% |
| Q1 26 | — | $0.64 | ||
| Q4 25 | $1.13 | $0.68 | ||
| Q3 25 | $1.19 | $0.74 | ||
| Q2 25 | $1.17 | $0.57 | ||
| Q1 25 | $1.30 | $0.65 | ||
| Q4 24 | $1.04 | $0.55 | ||
| Q3 24 | $1.08 | $0.46 | ||
| Q2 24 | $1.12 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $990.8M |
| Stockholders' EquityBook value | $713.3M | $2.2B |
| Total Assets | $973.6M | $15.7B |
| Debt / EquityLower = less leverage | — | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $990.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $713.3M | $2.2B | ||
| Q3 25 | $702.5M | $2.2B | ||
| Q2 25 | $677.6M | $2.2B | ||
| Q1 25 | $641.7M | $2.2B | ||
| Q4 24 | $606.2M | $2.2B | ||
| Q3 24 | $591.2M | $2.2B | ||
| Q2 24 | $563.1M | $2.1B |
| Q1 26 | — | $15.7B | ||
| Q4 25 | $973.6M | $15.8B | ||
| Q3 25 | $978.3M | $15.6B | ||
| Q2 25 | $936.4M | $15.4B | ||
| Q1 25 | $899.6M | $15.8B | ||
| Q4 24 | $816.4M | $16.3B | ||
| Q3 24 | $802.9M | $15.9B | ||
| Q2 24 | $781.3M | $15.6B |
| Q1 26 | — | 0.46× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $-38.7M | ||
| Q3 25 | $51.3M | $273.0M | ||
| Q2 25 | $44.6M | $-234.6M | ||
| Q1 25 | $33.0M | $5.8M | ||
| Q4 24 | $52.1M | $273.9M | ||
| Q3 24 | $45.1M | $515.6M | ||
| Q2 24 | $36.4M | $-435.3M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $-55.5M | ||
| Q3 25 | $48.2M | $271.0M | ||
| Q2 25 | $40.6M | $-234.6M | ||
| Q1 25 | $30.1M | $5.0M | ||
| Q4 24 | $47.4M | $266.8M | ||
| Q3 24 | $42.0M | $513.8M | ||
| Q2 24 | $34.1M | $-437.3M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | -16.8% | ||
| Q3 25 | 21.7% | 82.1% | ||
| Q2 25 | 17.1% | -77.4% | ||
| Q1 25 | 13.5% | 1.6% | ||
| Q4 24 | 23.1% | 88.6% | ||
| Q3 24 | 20.1% | 168.2% | ||
| Q2 24 | 15.7% | -147.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 5.1% | ||
| Q3 25 | 1.4% | 0.6% | ||
| Q2 25 | 1.7% | 0.0% | ||
| Q1 25 | 1.3% | 0.3% | ||
| Q4 24 | 2.3% | 2.4% | ||
| Q3 24 | 1.5% | 0.6% | ||
| Q2 24 | 1.1% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | -0.93× | ||
| Q3 25 | 1.46× | 5.96× | ||
| Q2 25 | 1.29× | -6.50× | ||
| Q1 25 | 0.86× | 0.14× | ||
| Q4 24 | 1.70× | 7.71× | ||
| Q3 24 | 1.41× | 17.36× | ||
| Q2 24 | 1.10× | -21.41× |
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% |
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
