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Side-by-side financial comparison of BADGER METER INC (BMI) and NATURES SUNSHINE PRODUCTS INC (NATR). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $123.8M, roughly 1.9× NATURES SUNSHINE PRODUCTS INC). BADGER METER INC runs the higher net margin — 14.3% vs 3.3%, a 11.0% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 4.7%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $7.6M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 5.6%).
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.
Nature's Sunshine Products, Inc. also known as "NSP", is a manufacturer of dietary supplements, including herbs, vitamins, minerals, and personal care products. It is based in Lehi, Utah, with a manufacturing facility in Spanish Fork, Utah.
BMI vs NATR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $123.8M |
| Net Profit | $33.6M | $4.1M |
| Gross Margin | 39.7% | 72.5% |
| Operating Margin | 18.4% | 4.3% |
| Net Margin | 14.3% | 3.3% |
| Revenue YoY | 14.1% | 4.7% |
| Net Profit YoY | 9.3% | 1379.4% |
| EPS (diluted) | $1.13 | $0.23 |
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 | $123.8M | ||
| Q3 25 | $222.2M | $128.3M | ||
| Q2 25 | $238.1M | $114.8M | ||
| Q1 25 | $222.2M | $113.2M | ||
| Q4 24 | $205.2M | $118.2M | ||
| Q3 24 | $208.4M | $114.6M | ||
| Q2 24 | $216.7M | $110.6M | ||
| Q1 24 | $196.3M | $111.0M |
| Q4 25 | $33.6M | $4.1M | ||
| Q3 25 | $35.1M | $5.3M | ||
| Q2 25 | $34.6M | $5.3M | ||
| Q1 25 | $38.4M | $4.7M | ||
| Q4 24 | $30.7M | $-321.0K | ||
| Q3 24 | $32.0M | $4.3M | ||
| Q2 24 | $33.1M | $1.3M | ||
| Q1 24 | $29.1M | $2.3M |
| Q4 25 | 39.7% | 72.5% | ||
| Q3 25 | 43.1% | 73.3% | ||
| Q2 25 | 41.1% | 71.7% | ||
| Q1 25 | 42.9% | 72.1% | ||
| Q4 24 | 40.3% | 72.0% | ||
| Q3 24 | 40.2% | 71.3% | ||
| Q2 24 | 39.4% | 71.4% | ||
| Q1 24 | 39.3% | 71.2% |
| Q4 25 | 18.4% | 4.3% | ||
| Q3 25 | 20.7% | 7.0% | ||
| Q2 25 | 18.8% | 3.7% | ||
| Q1 25 | 22.2% | 5.4% | ||
| Q4 24 | 19.1% | 3.8% | ||
| Q3 24 | 19.5% | 4.6% | ||
| Q2 24 | 19.2% | 5.1% | ||
| Q1 24 | 18.6% | 4.2% |
| Q4 25 | 14.3% | 3.3% | ||
| Q3 25 | 15.8% | 4.2% | ||
| Q2 25 | 14.5% | 4.6% | ||
| Q1 25 | 17.3% | 4.2% | ||
| Q4 24 | 15.0% | -0.3% | ||
| Q3 24 | 15.4% | 3.8% | ||
| Q2 24 | 15.3% | 1.2% | ||
| Q1 24 | 14.8% | 2.1% |
| Q4 25 | $1.13 | $0.23 | ||
| Q3 25 | $1.19 | $0.30 | ||
| Q2 25 | $1.17 | $0.28 | ||
| Q1 25 | $1.30 | $0.25 | ||
| Q4 24 | $1.04 | $-0.02 | ||
| Q3 24 | $1.08 | $0.23 | ||
| Q2 24 | $1.12 | $0.07 | ||
| 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 | — | $93.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $161.6M |
| Total Assets | $973.6M | $261.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $93.9M | ||
| Q3 25 | — | $95.6M | ||
| Q2 25 | — | $81.3M | ||
| Q1 25 | — | $86.5M | ||
| Q4 24 | — | $84.7M | ||
| Q3 24 | — | $78.7M | ||
| Q2 24 | — | $68.7M | ||
| Q1 24 | — | $77.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.1M |
| Q4 25 | $713.3M | $161.6M | ||
| Q3 25 | $702.5M | $166.7M | ||
| Q2 25 | $677.6M | $163.7M | ||
| Q1 25 | $641.7M | $167.1M | ||
| Q4 24 | $606.2M | $161.0M | ||
| Q3 24 | $591.2M | $162.6M | ||
| Q2 24 | $563.1M | $156.4M | ||
| Q1 24 | $535.6M | $159.7M |
| Q4 25 | $973.6M | $261.1M | ||
| Q3 25 | $978.3M | $264.8M | ||
| Q2 25 | $936.4M | $254.9M | ||
| Q1 25 | $899.6M | $252.7M | ||
| Q4 24 | $816.4M | $240.9M | ||
| Q3 24 | $802.9M | $245.3M | ||
| Q2 24 | $781.3M | $235.8M | ||
| Q1 24 | $743.5M | $247.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.01× |
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 | $9.9M |
| Free Cash FlowOCF − Capex | $50.8M | $7.6M |
| FCF MarginFCF / Revenue | 21.7% | 6.1% |
| Capex IntensityCapex / Revenue | 1.7% | 1.9% |
| Cash ConversionOCF / Net Profit | 1.63× | 2.41× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $28.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $9.9M | ||
| Q3 25 | $51.3M | $18.5M | ||
| Q2 25 | $44.6M | $4.3M | ||
| Q1 25 | $33.0M | $2.6M | ||
| Q4 24 | $52.1M | $12.2M | ||
| Q3 24 | $45.1M | $9.6M | ||
| Q2 24 | $36.4M | $1.3M | ||
| Q1 24 | $21.5M | $2.2M |
| Q4 25 | $50.8M | $7.6M | ||
| Q3 25 | $48.2M | $16.8M | ||
| Q2 25 | $40.6M | $3.0M | ||
| Q1 25 | $30.1M | $1.5M | ||
| Q4 24 | $47.4M | $10.0M | ||
| Q3 24 | $42.0M | $7.9M | ||
| Q2 24 | $34.1M | $-2.0M | ||
| Q1 24 | $18.8M | $-1.5M |
| Q4 25 | 21.7% | 6.1% | ||
| Q3 25 | 21.7% | 13.1% | ||
| Q2 25 | 17.1% | 2.6% | ||
| Q1 25 | 13.5% | 1.3% | ||
| Q4 24 | 23.1% | 8.5% | ||
| Q3 24 | 20.1% | 6.9% | ||
| Q2 24 | 15.7% | -1.9% | ||
| Q1 24 | 9.6% | -1.4% |
| Q4 25 | 1.7% | 1.9% | ||
| Q3 25 | 1.4% | 1.3% | ||
| Q2 25 | 1.7% | 1.2% | ||
| Q1 25 | 1.3% | 1.0% | ||
| Q4 24 | 2.3% | 1.9% | ||
| Q3 24 | 1.5% | 1.5% | ||
| Q2 24 | 1.1% | 3.0% | ||
| Q1 24 | 1.4% | 3.3% |
| Q4 25 | 1.63× | 2.41× | ||
| Q3 25 | 1.46× | 3.46× | ||
| Q2 25 | 1.29× | 0.81× | ||
| Q1 25 | 0.86× | 0.55× | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | 2.21× | ||
| Q2 24 | 1.10× | 0.97× | ||
| Q1 24 | 0.74× | 0.94× |
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% |
NATR
| Other | $68.1M | 55% |
| General Health Products | $20.2M | 16% |
| Digestive Products | $13.8M | 11% |
| Cardiovascular Products | $12.1M | 10% |
| Personal Care Products | $4.4M | 4% |
| Immunity Products | $3.1M | 3% |
| Weight Management Products | $2.1M | 2% |
