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Side-by-side financial comparison of BADGER METER INC (BMI) and IDACORP INC (IDA). Click either name above to swap in a different company.
IDACORP INC is the larger business by last-quarter revenue ($360.1M vs $234.1M, roughly 1.5× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 12.1%, a 2.2% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs -4.2%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $-216.2M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs -7.2%).
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.
IDACORP, Inc is an electricity holding company, incorporated in Idaho with headquarters in Boise. It comprises Idaho Power Company, IDACORP Financial and Ida-West Energy. It was formed on October 1, 1998.
BMI vs IDA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $360.1M |
| Net Profit | $33.6M | $43.6M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 14.9% |
| Net Margin | 14.3% | 12.1% |
| Revenue YoY | 14.1% | -4.2% |
| Net Profit YoY | 9.3% | 15.1% |
| EPS (diluted) | $1.13 | $0.78 |
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 | $360.1M | ||
| Q3 25 | $222.2M | $526.4M | ||
| Q2 25 | $238.1M | $449.3M | ||
| Q1 25 | $222.2M | $411.1M | ||
| Q4 24 | $205.2M | $375.9M | ||
| Q3 24 | $208.4M | $532.5M | ||
| Q2 24 | $216.7M | $442.6M | ||
| Q1 24 | $196.3M | $417.9M |
| Q4 25 | $33.6M | $43.6M | ||
| Q3 25 | $35.1M | $124.4M | ||
| Q2 25 | $34.6M | $95.8M | ||
| Q1 25 | $38.4M | $59.6M | ||
| Q4 24 | $30.7M | $37.9M | ||
| Q3 24 | $32.0M | $113.6M | ||
| Q2 24 | $33.1M | $89.5M | ||
| Q1 24 | $29.1M | $48.2M |
| 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% | 14.9% | ||
| Q3 25 | 20.7% | 27.5% | ||
| Q2 25 | 18.8% | 22.4% | ||
| Q1 25 | 22.2% | 13.4% | ||
| Q4 24 | 19.1% | 11.0% | ||
| Q3 24 | 19.5% | 25.1% | ||
| Q2 24 | 19.2% | 23.3% | ||
| Q1 24 | 18.6% | 11.9% |
| Q4 25 | 14.3% | 12.1% | ||
| Q3 25 | 15.8% | 23.6% | ||
| Q2 25 | 14.5% | 21.3% | ||
| Q1 25 | 17.3% | 14.5% | ||
| Q4 24 | 15.0% | 10.1% | ||
| Q3 24 | 15.4% | 21.3% | ||
| Q2 24 | 15.3% | 20.2% | ||
| Q1 24 | 14.8% | 11.5% |
| Q4 25 | $1.13 | $0.78 | ||
| Q3 25 | $1.19 | $2.26 | ||
| Q2 25 | $1.17 | $1.76 | ||
| Q1 25 | $1.30 | $1.10 | ||
| Q4 24 | $1.04 | $0.72 | ||
| Q3 24 | $1.08 | $2.12 | ||
| Q2 24 | $1.12 | $1.71 | ||
| Q1 24 | $0.99 | $0.95 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $215.7M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $713.3M | $3.6B |
| Total Assets | $973.6M | $10.2B |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $215.7M | ||
| Q3 25 | — | $333.2M | ||
| Q2 25 | — | $474.5M | ||
| Q1 25 | — | $634.5M | ||
| Q4 24 | — | $368.9M | ||
| Q3 24 | — | $427.9M | ||
| Q2 24 | — | $169.6M | ||
| Q1 24 | — | $157.6M |
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $713.3M | $3.6B | ||
| Q3 25 | $702.5M | $3.5B | ||
| Q2 25 | $677.6M | $3.4B | ||
| Q1 25 | $641.7M | $3.3B | ||
| Q4 24 | $606.2M | $3.3B | ||
| Q3 24 | $591.2M | $3.3B | ||
| Q2 24 | $563.1M | $3.2B | ||
| Q1 24 | $535.6M | $2.9B |
| Q4 25 | $973.6M | $10.2B | ||
| Q3 25 | $978.3M | $10.1B | ||
| Q2 25 | $936.4M | $9.9B | ||
| Q1 25 | $899.6M | $9.6B | ||
| Q4 24 | $816.4M | $9.2B | ||
| Q3 24 | $802.9M | $9.1B | ||
| Q2 24 | $781.3M | $8.7B | ||
| Q1 24 | $743.5M | $8.3B |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.92× | ||
| 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 | $137.8M |
| Free Cash FlowOCF − Capex | $50.8M | $-216.2M |
| FCF MarginFCF / Revenue | 21.7% | -60.0% |
| Capex IntensityCapex / Revenue | 1.7% | 98.3% |
| Cash ConversionOCF / Net Profit | 1.63× | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $-577.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $137.8M | ||
| Q3 25 | $51.3M | $162.8M | ||
| Q2 25 | $44.6M | $176.9M | ||
| Q1 25 | $33.0M | $124.3M | ||
| Q4 24 | $52.1M | $136.4M | ||
| Q3 24 | $45.1M | $201.9M | ||
| Q2 24 | $36.4M | $146.4M | ||
| Q1 24 | $21.5M | $109.7M |
| Q4 25 | $50.8M | $-216.2M | ||
| Q3 25 | $48.2M | $-127.9M | ||
| Q2 25 | $40.6M | $-156.4M | ||
| Q1 25 | $30.1M | $-77.0M | ||
| Q4 24 | $47.4M | $-48.9M | ||
| Q3 24 | $42.0M | $-16.1M | ||
| Q2 24 | $34.1M | $-199.6M | ||
| Q1 24 | $18.8M | $-150.3M |
| Q4 25 | 21.7% | -60.0% | ||
| Q3 25 | 21.7% | -24.3% | ||
| Q2 25 | 17.1% | -34.8% | ||
| Q1 25 | 13.5% | -18.7% | ||
| Q4 24 | 23.1% | -13.0% | ||
| Q3 24 | 20.1% | -3.0% | ||
| Q2 24 | 15.7% | -45.1% | ||
| Q1 24 | 9.6% | -36.0% |
| Q4 25 | 1.7% | 98.3% | ||
| Q3 25 | 1.4% | 55.2% | ||
| Q2 25 | 1.7% | 74.2% | ||
| Q1 25 | 1.3% | 49.0% | ||
| Q4 24 | 2.3% | 49.3% | ||
| Q3 24 | 1.5% | 41.0% | ||
| Q2 24 | 1.1% | 78.2% | ||
| Q1 24 | 1.4% | 62.2% |
| Q4 25 | 1.63× | 3.16× | ||
| Q3 25 | 1.46× | 1.31× | ||
| Q2 25 | 1.29× | 1.85× | ||
| Q1 25 | 0.86× | 2.08× | ||
| Q4 24 | 1.70× | 3.60× | ||
| Q3 24 | 1.41× | 1.78× | ||
| Q2 24 | 1.10× | 1.63× | ||
| Q1 24 | 0.74× | 2.28× |
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% |
IDA
| Retailrevenues | $323.0M | 90% |
| Transmissionserviceswheeling | $18.6M | 5% |
| Energyefficiencyprogramrevenues | $11.7M | 3% |
| Wholesaleenergysales | $10.5M | 3% |
| Otherrevenues | $9.5M | 3% |
