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Side-by-side financial comparison of BADGER METER INC (BMI) and LifeStance Health Group, Inc. (LFST). Click either name above to swap in a different company.
LifeStance Health Group, Inc. is the larger business by last-quarter revenue ($382.2M vs $234.1M, roughly 1.6× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 3.1%, a 11.3% gap on every dollar of revenue. On growth, LifeStance Health Group, Inc. posted the faster year-over-year revenue change (17.4% vs 14.1%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $46.6M). Over the past eight quarters, LifeStance Health Group, Inc.'s revenue compounded faster (12.8% 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.
Lifestance Health (Lifestance) is an American outpatient behavioral health services provider. They provide their services in person and via tele-health. Their services include therapy, psychiatry, TMS, and ketamine therapies. They have landed in lawsuits multiple times over labor violations, leaking of customer information, and misleading investors.
BMI vs LFST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $382.2M |
| Net Profit | $33.6M | $11.7M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 4.7% |
| Net Margin | 14.3% | 3.1% |
| Revenue YoY | 14.1% | 17.4% |
| Net Profit YoY | 9.3% | 264.1% |
| 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 | $382.2M | ||
| Q3 25 | $222.2M | $363.8M | ||
| Q2 25 | $238.1M | $345.3M | ||
| Q1 25 | $222.2M | $333.0M | ||
| Q4 24 | $205.2M | $325.5M | ||
| Q3 24 | $208.4M | $312.7M | ||
| Q2 24 | $216.7M | $312.3M | ||
| Q1 24 | $196.3M | $300.4M |
| Q4 25 | $33.6M | $11.7M | ||
| Q3 25 | $35.1M | $1.1M | ||
| Q2 25 | $34.6M | $-3.8M | ||
| Q1 25 | $38.4M | $709.0K | ||
| Q4 24 | $30.7M | $-7.1M | ||
| Q3 24 | $32.0M | $-6.0M | ||
| Q2 24 | $33.1M | $-23.3M | ||
| Q1 24 | $29.1M | $-21.1M |
| 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% | 4.7% | ||
| Q3 25 | 20.7% | 2.0% | ||
| Q2 25 | 18.8% | -0.9% | ||
| Q1 25 | 22.2% | 0.5% | ||
| Q4 24 | 19.1% | 0.3% | ||
| Q3 24 | 19.5% | 0.0% | ||
| Q2 24 | 19.2% | -5.1% | ||
| Q1 24 | 18.6% | -5.6% |
| Q4 25 | 14.3% | 3.1% | ||
| Q3 25 | 15.8% | 0.3% | ||
| Q2 25 | 14.5% | -1.1% | ||
| Q1 25 | 17.3% | 0.2% | ||
| Q4 24 | 15.0% | -2.2% | ||
| Q3 24 | 15.4% | -1.9% | ||
| Q2 24 | 15.3% | -7.5% | ||
| Q1 24 | 14.8% | -7.0% |
| Q4 25 | $1.13 | — | ||
| Q3 25 | $1.19 | — | ||
| Q2 25 | $1.17 | — | ||
| Q1 25 | $1.30 | — | ||
| Q4 24 | $1.04 | — | ||
| Q3 24 | $1.08 | — | ||
| Q2 24 | $1.12 | — | ||
| Q1 24 | $0.99 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $248.6M |
| Total DebtLower is stronger | — | $282.8M |
| Stockholders' EquityBook value | $713.3M | $1.5B |
| Total Assets | $973.6M | $2.2B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $248.6M | ||
| Q3 25 | — | $203.9M | ||
| Q2 25 | — | $188.9M | ||
| Q1 25 | — | $134.3M | ||
| Q4 24 | — | $154.6M | ||
| Q3 24 | — | $102.6M | ||
| Q2 24 | — | $87.0M | ||
| Q1 24 | — | $49.5M |
| Q4 25 | — | $282.8M | ||
| Q3 25 | — | $284.6M | ||
| Q2 25 | — | $286.4M | ||
| Q1 25 | — | $288.2M | ||
| Q4 24 | — | $290.0M | ||
| Q3 24 | — | $287.3M | ||
| Q2 24 | — | $288.0M | ||
| Q1 24 | — | $288.8M |
| Q4 25 | $713.3M | $1.5B | ||
| Q3 25 | $702.5M | $1.5B | ||
| Q2 25 | $677.6M | $1.5B | ||
| Q1 25 | $641.7M | $1.5B | ||
| Q4 24 | $606.2M | $1.4B | ||
| Q3 24 | $591.2M | $1.4B | ||
| Q2 24 | $563.1M | $1.4B | ||
| Q1 24 | $535.6M | $1.4B |
| Q4 25 | $973.6M | $2.2B | ||
| Q3 25 | $978.3M | $2.1B | ||
| Q2 25 | $936.4M | $2.1B | ||
| Q1 25 | $899.6M | $2.1B | ||
| Q4 24 | $816.4M | $2.1B | ||
| Q3 24 | $802.9M | $2.1B | ||
| Q2 24 | $781.3M | $2.1B | ||
| Q1 24 | $743.5M | $2.1B |
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.20× | ||
| Q1 24 | — | 0.20× |
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 | $57.6M |
| Free Cash FlowOCF − Capex | $50.8M | $46.6M |
| FCF MarginFCF / Revenue | 21.7% | 12.2% |
| Capex IntensityCapex / Revenue | 1.7% | 2.9% |
| Cash ConversionOCF / Net Profit | 1.63× | 4.93× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $110.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $57.6M | ||
| Q3 25 | $51.3M | $27.3M | ||
| Q2 25 | $44.6M | $64.4M | ||
| Q1 25 | $33.0M | $-3.1M | ||
| Q4 24 | $52.1M | $62.3M | ||
| Q3 24 | $45.1M | $22.7M | ||
| Q2 24 | $36.4M | $44.1M | ||
| Q1 24 | $21.5M | $-21.8M |
| Q4 25 | $50.8M | $46.6M | ||
| Q3 25 | $48.2M | $17.0M | ||
| Q2 25 | $40.6M | $56.6M | ||
| Q1 25 | $30.1M | $-10.3M | ||
| Q4 24 | $47.4M | $56.0M | ||
| Q3 24 | $42.0M | $17.7M | ||
| Q2 24 | $34.1M | $39.0M | ||
| Q1 24 | $18.8M | $-26.9M |
| Q4 25 | 21.7% | 12.2% | ||
| Q3 25 | 21.7% | 4.7% | ||
| Q2 25 | 17.1% | 16.4% | ||
| Q1 25 | 13.5% | -3.1% | ||
| Q4 24 | 23.1% | 17.2% | ||
| Q3 24 | 20.1% | 5.7% | ||
| Q2 24 | 15.7% | 12.5% | ||
| Q1 24 | 9.6% | -9.0% |
| Q4 25 | 1.7% | 2.9% | ||
| Q3 25 | 1.4% | 2.8% | ||
| Q2 25 | 1.7% | 2.2% | ||
| Q1 25 | 1.3% | 2.2% | ||
| Q4 24 | 2.3% | 1.9% | ||
| Q3 24 | 1.5% | 1.6% | ||
| Q2 24 | 1.1% | 1.6% | ||
| Q1 24 | 1.4% | 1.7% |
| Q4 25 | 1.63× | 4.93× | ||
| Q3 25 | 1.46× | 25.34× | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | -4.36× | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | — | ||
| 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% |
LFST
Segment breakdown not available.
