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Side-by-side financial comparison of BADGER METER INC (BMI) and MEDICAL PROPERTIES TRUST INC (MPW). Click either name above to swap in a different company.
MEDICAL PROPERTIES TRUST INC is the larger business by last-quarter revenue ($270.3M vs $234.1M, roughly 1.2× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 6.5%, a 7.8% gap on every dollar of revenue. On growth, MEDICAL PROPERTIES TRUST INC posted the faster year-over-year revenue change (16.6% vs 14.1%). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs -0.2%).
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.
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
BMI vs MPW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $270.3M |
| Net Profit | $33.6M | $17.6M |
| Gross Margin | 39.7% | 95.8% |
| Operating Margin | 18.4% | 9.7% |
| Net Margin | 14.3% | 6.5% |
| Revenue YoY | 14.1% | 16.6% |
| Net Profit YoY | 9.3% | 104.3% |
| EPS (diluted) | $1.13 | $0.03 |
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 | $270.3M | ||
| Q3 25 | $222.2M | $237.5M | ||
| Q2 25 | $238.1M | $240.4M | ||
| Q1 25 | $222.2M | $223.8M | ||
| Q4 24 | $205.2M | $231.8M | ||
| Q3 24 | $208.4M | $225.8M | ||
| Q2 24 | $216.7M | $266.6M | ||
| Q1 24 | $196.3M | $271.3M |
| Q4 25 | $33.6M | $17.6M | ||
| Q3 25 | $35.1M | $-77.7M | ||
| Q2 25 | $34.6M | $-98.4M | ||
| Q1 25 | $38.4M | $-118.3M | ||
| Q4 24 | $30.7M | $-412.3M | ||
| Q3 24 | $32.0M | $-801.2M | ||
| Q2 24 | $33.1M | $-320.6M | ||
| Q1 24 | $29.1M | $-875.6M |
| Q4 25 | 39.7% | 95.8% | ||
| Q3 25 | 43.1% | — | ||
| Q2 25 | 41.1% | 91.8% | ||
| Q1 25 | 42.9% | 63.6% | ||
| Q4 24 | 40.3% | 90.9% | ||
| Q3 24 | 40.2% | 96.5% | ||
| Q2 24 | 39.4% | 98.4% | ||
| Q1 24 | 39.3% | 84.9% |
| Q4 25 | 18.4% | 9.7% | ||
| Q3 25 | 20.7% | -28.0% | ||
| Q2 25 | 18.8% | -36.7% | ||
| Q1 25 | 22.2% | -48.5% | ||
| Q4 24 | 19.1% | -173.7% | ||
| Q3 24 | 19.5% | -350.7% | ||
| Q2 24 | 19.2% | -114.5% | ||
| Q1 24 | 18.6% | -318.6% |
| Q4 25 | 14.3% | 6.5% | ||
| Q3 25 | 15.8% | -32.7% | ||
| Q2 25 | 14.5% | -40.9% | ||
| Q1 25 | 17.3% | -52.8% | ||
| Q4 24 | 15.0% | -177.8% | ||
| Q3 24 | 15.4% | -354.8% | ||
| Q2 24 | 15.3% | -120.3% | ||
| Q1 24 | 14.8% | -322.7% |
| Q4 25 | $1.13 | $0.03 | ||
| Q3 25 | $1.19 | $-0.13 | ||
| Q2 25 | $1.17 | $-0.16 | ||
| Q1 25 | $1.30 | $-0.20 | ||
| Q4 24 | $1.04 | $-0.68 | ||
| Q3 24 | $1.08 | $-1.34 | ||
| Q2 24 | $1.12 | $-0.54 | ||
| Q1 24 | $0.99 | $-1.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $540.9M |
| Total DebtLower is stronger | — | $9.7B |
| Stockholders' EquityBook value | $713.3M | $4.6B |
| Total Assets | $973.6M | $15.0B |
| Debt / EquityLower = less leverage | — | 2.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $540.9M | ||
| Q3 25 | — | $396.6M | ||
| Q2 25 | — | $509.8M | ||
| Q1 25 | — | $673.5M | ||
| Q4 24 | — | $332.3M | ||
| Q3 24 | — | $275.6M | ||
| Q2 24 | — | $606.5M | ||
| Q1 24 | — | $224.3M |
| Q4 25 | — | $9.7B | ||
| Q3 25 | — | $9.6B | ||
| Q2 25 | — | $9.6B | ||
| Q1 25 | — | $9.5B | ||
| Q4 24 | — | $8.8B | ||
| Q3 24 | — | $9.2B | ||
| Q2 24 | — | $9.4B | ||
| Q1 24 | — | $10.1B |
| Q4 25 | $713.3M | $4.6B | ||
| Q3 25 | $702.5M | $4.7B | ||
| Q2 25 | $677.6M | $4.8B | ||
| Q1 25 | $641.7M | $4.8B | ||
| Q4 24 | $606.2M | $4.8B | ||
| Q3 24 | $591.2M | $5.4B | ||
| Q2 24 | $563.1M | $6.2B | ||
| Q1 24 | $535.6M | $6.7B |
| Q4 25 | $973.6M | $15.0B | ||
| Q3 25 | $978.3M | $14.9B | ||
| Q2 25 | $936.4M | $15.2B | ||
| Q1 25 | $899.6M | $14.9B | ||
| Q4 24 | $816.4M | $14.3B | ||
| Q3 24 | $802.9M | $15.2B | ||
| Q2 24 | $781.3M | $16.2B | ||
| Q1 24 | $743.5M | $17.3B |
| Q4 25 | — | 2.11× | ||
| Q3 25 | — | 2.06× | ||
| Q2 25 | — | 2.00× | ||
| Q1 25 | — | 1.99× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | — | 1.51× |
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 | $230.8M |
| Free Cash FlowOCF − Capex | $50.8M | — |
| FCF MarginFCF / Revenue | 21.7% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 1.63× | 13.11× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $230.8M | ||
| Q3 25 | $51.3M | $18.6M | ||
| Q2 25 | $44.6M | $51.7M | ||
| Q1 25 | $33.0M | $384.0K | ||
| Q4 24 | $52.1M | $245.5M | ||
| Q3 24 | $45.1M | $59.2M | ||
| Q2 24 | $36.4M | $35.3M | ||
| Q1 24 | $21.5M | $74.3M |
| Q4 25 | $50.8M | — | ||
| Q3 25 | $48.2M | — | ||
| Q2 25 | $40.6M | — | ||
| Q1 25 | $30.1M | — | ||
| Q4 24 | $47.4M | — | ||
| Q3 24 | $42.0M | — | ||
| Q2 24 | $34.1M | — | ||
| Q1 24 | $18.8M | — |
| Q4 25 | 21.7% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 13.5% | — | ||
| Q4 24 | 23.1% | — | ||
| Q3 24 | 20.1% | — | ||
| Q2 24 | 15.7% | — | ||
| Q1 24 | 9.6% | — |
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 1.4% | — |
| Q4 25 | 1.63× | 13.11× | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | — | ||
| 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% |
MPW
Segment breakdown not available.
