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Side-by-side financial comparison of BADGER METER INC (BMI) and loanDepot, Inc. (LDI). Click either name above to swap in a different company.
loanDepot, Inc. is the larger business by last-quarter revenue ($310.3M vs $234.1M, roughly 1.3× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs -7.2%, a 21.6% gap on every dollar of revenue. On growth, loanDepot, Inc. posted the faster year-over-year revenue change (20.5% vs 14.1%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $-648.0M). Over the past eight quarters, loanDepot, Inc.'s revenue compounded faster (18.0% 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.
LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products.
BMI vs LDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $310.3M |
| Net Profit | $33.6M | $-22.5M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | -10.3% |
| Net Margin | 14.3% | -7.2% |
| Revenue YoY | 14.1% | 20.5% |
| Net Profit YoY | 9.3% | 32.4% |
| EPS (diluted) | $1.13 | — |
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 | $310.3M | ||
| Q3 25 | $222.2M | $323.3M | ||
| Q2 25 | $238.1M | $282.5M | ||
| Q1 25 | $222.2M | $273.6M | ||
| Q4 24 | $205.2M | $257.5M | ||
| Q3 24 | $208.4M | $314.6M | ||
| Q2 24 | $216.7M | $265.4M | ||
| Q1 24 | $196.3M | $222.8M |
| Q4 25 | $33.6M | $-22.5M | ||
| Q3 25 | $35.1M | $-4.9M | ||
| Q2 25 | $34.6M | $-13.4M | ||
| Q1 25 | $38.4M | $-21.9M | ||
| Q4 24 | $30.7M | $-33.2M | ||
| Q3 24 | $32.0M | $1.4M | ||
| Q2 24 | $33.1M | $-32.2M | ||
| Q1 24 | $29.1M | $-34.3M |
| 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% | -10.3% | ||
| Q3 25 | 20.7% | -3.2% | ||
| Q2 25 | 18.8% | -11.4% | ||
| Q1 25 | 22.2% | -16.8% | ||
| Q4 24 | 19.1% | -32.7% | ||
| Q3 24 | 19.5% | 1.1% | ||
| Q2 24 | 19.2% | -29.1% | ||
| Q1 24 | 18.6% | -38.2% |
| Q4 25 | 14.3% | -7.2% | ||
| Q3 25 | 15.8% | -1.5% | ||
| Q2 25 | 14.5% | -4.7% | ||
| Q1 25 | 17.3% | -8.0% | ||
| Q4 24 | 15.0% | -12.9% | ||
| Q3 24 | 15.4% | 0.4% | ||
| Q2 24 | 15.3% | -12.1% | ||
| Q1 24 | 14.8% | -15.4% |
| Q4 25 | $1.13 | — | ||
| Q3 25 | $1.19 | — | ||
| Q2 25 | $1.17 | — | ||
| Q1 25 | $1.30 | — | ||
| Q4 24 | $1.04 | — | ||
| Q3 24 | $1.08 | $0.01 | ||
| Q2 24 | $1.12 | $-0.18 | ||
| Q1 24 | $0.99 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $337.2M |
| Total DebtLower is stronger | — | $2.1B |
| Stockholders' EquityBook value | $713.3M | $386.0M |
| Total Assets | $973.6M | $6.9B |
| Debt / EquityLower = less leverage | — | 5.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $337.2M | ||
| Q3 25 | — | $459.2M | ||
| Q2 25 | — | $408.6M | ||
| Q1 25 | — | $371.5M | ||
| Q4 24 | — | $421.6M | ||
| Q3 24 | — | $483.0M | ||
| Q2 24 | — | $533.2M | ||
| Q1 24 | — | $603.7M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | $713.3M | $386.0M | ||
| Q3 25 | $702.5M | $433.3M | ||
| Q2 25 | $677.6M | $439.1M | ||
| Q1 25 | $641.7M | $469.3M | ||
| Q4 24 | $606.2M | $506.6M | ||
| Q3 24 | $591.2M | $592.0M | ||
| Q2 24 | $563.1M | $578.9M | ||
| Q1 24 | $535.6M | $637.3M |
| Q4 25 | $973.6M | $6.9B | ||
| Q3 25 | $978.3M | $6.2B | ||
| Q2 25 | $936.4M | $6.2B | ||
| Q1 25 | $899.6M | $6.4B | ||
| Q4 24 | $816.4M | $6.3B | ||
| Q3 24 | $802.9M | $6.4B | ||
| Q2 24 | $781.3M | $5.9B | ||
| Q1 24 | $743.5M | $6.2B |
| Q4 25 | — | 5.44× | ||
| Q3 25 | — | 4.83× | ||
| Q2 25 | — | 4.70× | ||
| Q1 25 | — | 4.30× | ||
| Q4 24 | — | 4.00× | ||
| Q3 24 | — | 3.31× | ||
| Q2 24 | — | 3.41× | ||
| Q1 24 | — | 3.63× |
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 | $-638.7M |
| Free Cash FlowOCF − Capex | $50.8M | $-648.0M |
| FCF MarginFCF / Revenue | 21.7% | -208.9% |
| Capex IntensityCapex / Revenue | 1.7% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $-734.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $-638.7M | ||
| Q3 25 | $51.3M | $43.4M | ||
| Q2 25 | $44.6M | $67.6M | ||
| Q1 25 | $33.0M | $-179.9M | ||
| Q4 24 | $52.1M | $47.7M | ||
| Q3 24 | $45.1M | $-349.2M | ||
| Q2 24 | $36.4M | $-278.3M | ||
| Q1 24 | $21.5M | $-278.5M |
| Q4 25 | $50.8M | $-648.0M | ||
| Q3 25 | $48.2M | $38.7M | ||
| Q2 25 | $40.6M | $61.4M | ||
| Q1 25 | $30.1M | $-186.7M | ||
| Q4 24 | $47.4M | $40.8M | ||
| Q3 24 | $42.0M | $-356.4M | ||
| Q2 24 | $34.1M | $-285.7M | ||
| Q1 24 | $18.8M | $-283.3M |
| Q4 25 | 21.7% | -208.9% | ||
| Q3 25 | 21.7% | 12.0% | ||
| Q2 25 | 17.1% | 21.7% | ||
| Q1 25 | 13.5% | -68.2% | ||
| Q4 24 | 23.1% | 15.8% | ||
| Q3 24 | 20.1% | -113.3% | ||
| Q2 24 | 15.7% | -107.7% | ||
| Q1 24 | 9.6% | -127.2% |
| Q4 25 | 1.7% | 3.0% | ||
| Q3 25 | 1.4% | 1.5% | ||
| Q2 25 | 1.7% | 2.2% | ||
| Q1 25 | 1.3% | 2.5% | ||
| Q4 24 | 2.3% | 2.7% | ||
| Q3 24 | 1.5% | 2.3% | ||
| Q2 24 | 1.1% | 2.8% | ||
| Q1 24 | 1.4% | 2.1% |
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | -255.05× | ||
| Q2 24 | 1.10× | — | ||
| Q1 24 | 0.74× | — |
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% |
LDI
Segment breakdown not available.
