vs
Side-by-side financial comparison of BADGER METER INC (BMI) and MONRO, INC. (MNRO). Click either name above to swap in a different company.
MONRO, INC. is the larger business by last-quarter revenue ($293.4M vs $234.1M, roughly 1.3× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 3.8%, a 10.5% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs -4.0%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $9.1M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs -2.7%).
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.
Monro, Inc. is an automotive services company founded and headquartered in Rochester, New York, U.S. As of 2025, Monro has 1,260 locations making them the second-largest automotive services company in North America after Driven Brands by number of locations and by revenue.
BMI vs MNRO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $293.4M |
| Net Profit | $33.6M | $11.1M |
| Gross Margin | 39.7% | 34.9% |
| Operating Margin | 18.4% | 6.3% |
| Net Margin | 14.3% | 3.8% |
| Revenue YoY | 14.1% | -4.0% |
| Net Profit YoY | 9.3% | 143.1% |
| EPS (diluted) | $1.13 | $0.35 |
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 | $293.4M | ||
| Q3 25 | $222.2M | $288.9M | ||
| Q2 25 | $238.1M | $301.0M | ||
| Q1 25 | $222.2M | $295.0M | ||
| Q4 24 | $205.2M | $305.8M | ||
| Q3 24 | $208.4M | $301.4M | ||
| Q2 24 | $216.7M | $293.2M | ||
| Q1 24 | $196.3M | $310.1M |
| Q4 25 | $33.6M | $11.1M | ||
| Q3 25 | $35.1M | $5.7M | ||
| Q2 25 | $34.6M | $-8.1M | ||
| Q1 25 | $38.4M | $-21.3M | ||
| Q4 24 | $30.7M | $4.6M | ||
| Q3 24 | $32.0M | $5.6M | ||
| Q2 24 | $33.1M | $5.9M | ||
| Q1 24 | $29.1M | $3.7M |
| Q4 25 | 39.7% | 34.9% | ||
| Q3 25 | 43.1% | 35.7% | ||
| Q2 25 | 41.1% | 35.5% | ||
| Q1 25 | 42.9% | 33.0% | ||
| Q4 24 | 40.3% | 34.3% | ||
| Q3 24 | 40.2% | 35.3% | ||
| Q2 24 | 39.4% | 37.2% | ||
| Q1 24 | 39.3% | 35.5% |
| Q4 25 | 18.4% | 6.3% | ||
| Q3 25 | 20.7% | 4.4% | ||
| Q2 25 | 18.8% | -2.0% | ||
| Q1 25 | 22.2% | -8.1% | ||
| Q4 24 | 19.1% | 3.3% | ||
| Q3 24 | 19.5% | 4.4% | ||
| Q2 24 | 19.2% | 4.5% | ||
| Q1 24 | 18.6% | 3.3% |
| Q4 25 | 14.3% | 3.8% | ||
| Q3 25 | 15.8% | 2.0% | ||
| Q2 25 | 14.5% | -2.7% | ||
| Q1 25 | 17.3% | -7.2% | ||
| Q4 24 | 15.0% | 1.5% | ||
| Q3 24 | 15.4% | 1.9% | ||
| Q2 24 | 15.3% | 2.0% | ||
| Q1 24 | 14.8% | 1.2% |
| Q4 25 | $1.13 | $0.35 | ||
| Q3 25 | $1.19 | $0.18 | ||
| Q2 25 | $1.17 | $-0.28 | ||
| Q1 25 | $1.30 | $-0.74 | ||
| Q4 24 | $1.04 | $0.15 | ||
| Q3 24 | $1.08 | $0.18 | ||
| Q2 24 | $1.12 | $0.19 | ||
| Q1 24 | $0.99 | $0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.9M |
| Total DebtLower is stronger | — | $45.0M |
| Stockholders' EquityBook value | $713.3M | $604.9M |
| Total Assets | $973.6M | $1.6B |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.9M | ||
| Q3 25 | — | $10.5M | ||
| Q2 25 | — | $7.8M | ||
| Q1 25 | — | $20.8M | ||
| Q4 24 | — | $10.2M | ||
| Q3 24 | — | $20.9M | ||
| Q2 24 | — | $18.7M | ||
| Q1 24 | — | $6.6M |
| Q4 25 | — | $45.0M | ||
| Q3 25 | — | $60.0M | ||
| Q2 25 | — | $71.5M | ||
| Q1 25 | — | $61.3M | ||
| Q4 24 | — | $59.3M | ||
| Q3 24 | — | $62.0M | ||
| Q2 24 | — | $112.0M | ||
| Q1 24 | — | $102.0M |
| Q4 25 | $713.3M | $604.9M | ||
| Q3 25 | $702.5M | $601.7M | ||
| Q2 25 | $677.6M | $604.9M | ||
| Q1 25 | $641.7M | $620.8M | ||
| Q4 24 | $606.2M | $648.9M | ||
| Q3 24 | $591.2M | $651.9M | ||
| Q2 24 | $563.1M | $654.4M | ||
| Q1 24 | $535.6M | $656.8M |
| Q4 25 | $973.6M | $1.6B | ||
| Q3 25 | $978.3M | $1.6B | ||
| Q2 25 | $936.4M | $1.6B | ||
| Q1 25 | $899.6M | $1.6B | ||
| Q4 24 | $816.4M | $1.7B | ||
| Q3 24 | $802.9M | $1.7B | ||
| Q2 24 | $781.3M | $1.7B | ||
| Q1 24 | $743.5M | $1.7B |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.09× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.16× |
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 | $17.8M |
| Free Cash FlowOCF − Capex | $50.8M | $9.1M |
| FCF MarginFCF / Revenue | 21.7% | 3.1% |
| Capex IntensityCapex / Revenue | 1.7% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.63× | 1.60× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $49.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $17.8M | ||
| Q3 25 | $51.3M | $32.3M | ||
| Q2 25 | $44.6M | $-1.9M | ||
| Q1 25 | $33.0M | $28.9M | ||
| Q4 24 | $52.1M | $14.8M | ||
| Q3 24 | $45.1M | $62.6M | ||
| Q2 24 | $36.4M | $25.6M | ||
| Q1 24 | $21.5M | $-5.3M |
| Q4 25 | $50.8M | $9.1M | ||
| Q3 25 | $48.2M | $26.6M | ||
| Q2 25 | $40.6M | $-9.3M | ||
| Q1 25 | $30.1M | $23.2M | ||
| Q4 24 | $47.4M | $7.9M | ||
| Q3 24 | $42.0M | $57.6M | ||
| Q2 24 | $34.1M | $16.8M | ||
| Q1 24 | $18.8M | $-11.9M |
| Q4 25 | 21.7% | 3.1% | ||
| Q3 25 | 21.7% | 9.2% | ||
| Q2 25 | 17.1% | -3.1% | ||
| Q1 25 | 13.5% | 7.9% | ||
| Q4 24 | 23.1% | 2.6% | ||
| Q3 24 | 20.1% | 19.1% | ||
| Q2 24 | 15.7% | 5.7% | ||
| Q1 24 | 9.6% | -3.8% |
| Q4 25 | 1.7% | 3.0% | ||
| Q3 25 | 1.4% | 2.0% | ||
| Q2 25 | 1.7% | 2.5% | ||
| Q1 25 | 1.3% | 1.9% | ||
| Q4 24 | 2.3% | 2.2% | ||
| Q3 24 | 1.5% | 1.6% | ||
| Q2 24 | 1.1% | 3.0% | ||
| Q1 24 | 1.4% | 2.1% |
| Q4 25 | 1.63× | 1.60× | ||
| Q3 25 | 1.46× | 5.71× | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.70× | 3.23× | ||
| Q3 24 | 1.41× | 11.08× | ||
| Q2 24 | 1.10× | 4.37× | ||
| Q1 24 | 0.74× | -1.42× |
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% |
MNRO
| Tires | $150.2M | 51% |
| Maintenance | $73.5M | 25% |
| Brakes | $35.1M | 12% |
| Steering | $24.9M | 8% |
| Batteries | $6.2M | 2% |
| Exhaust | $3.2M | 1% |
