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Side-by-side financial comparison of BADGER METER INC (BMI) and Pacira BioSciences, Inc. (PCRX). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $177.4M, roughly 1.3× Pacira BioSciences, Inc.). BADGER METER INC runs the higher net margin — 14.3% vs 1.6%, a 12.7% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 5.0%). 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.
Pacira BioSciences, Inc. is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain management solutions. Its core product line targets post-surgical pain relief for patients, serving hospitals, ambulatory surgery centers and other healthcare providers primarily in the U.S., with ongoing expansion efforts in select international markets.
BMI vs PCRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $177.4M |
| Net Profit | $33.6M | $2.9M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 3.9% |
| Net Margin | 14.3% | 1.6% |
| Revenue YoY | 14.1% | 5.0% |
| Net Profit YoY | 9.3% | — |
| EPS (diluted) | $1.13 | $0.07 |
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.
| Q1 26 | — | $177.4M | ||
| Q4 25 | $234.1M | $196.9M | ||
| Q3 25 | $222.2M | $179.5M | ||
| Q2 25 | $238.1M | $181.1M | ||
| Q1 25 | $222.2M | $168.9M | ||
| Q4 24 | $205.2M | $187.3M | ||
| Q3 24 | $208.4M | $168.6M | ||
| Q2 24 | $216.7M | $178.0M |
| Q1 26 | — | $2.9M | ||
| Q4 25 | $33.6M | — | ||
| Q3 25 | $35.1M | $5.4M | ||
| Q2 25 | $34.6M | $-4.8M | ||
| Q1 25 | $38.4M | $4.8M | ||
| Q4 24 | $30.7M | — | ||
| Q3 24 | $32.0M | $-143.5M | ||
| Q2 24 | $33.1M | $18.9M |
| Q1 26 | — | — | ||
| Q4 25 | 39.7% | 79.5% | ||
| Q3 25 | 43.1% | 80.9% | ||
| Q2 25 | 41.1% | 77.4% | ||
| Q1 25 | 42.9% | 79.7% | ||
| Q4 24 | 40.3% | 78.7% | ||
| Q3 24 | 40.2% | 76.9% | ||
| Q2 24 | 39.4% | 75.1% |
| Q1 26 | — | 3.9% | ||
| Q4 25 | 18.4% | 1.2% | ||
| Q3 25 | 20.7% | 3.5% | ||
| Q2 25 | 18.8% | 4.7% | ||
| Q1 25 | 22.2% | 1.2% | ||
| Q4 24 | 19.1% | 13.2% | ||
| Q3 24 | 19.5% | -82.8% | ||
| Q2 24 | 19.2% | 15.9% |
| Q1 26 | — | 1.6% | ||
| Q4 25 | 14.3% | — | ||
| Q3 25 | 15.8% | 3.0% | ||
| Q2 25 | 14.5% | -2.7% | ||
| Q1 25 | 17.3% | 2.8% | ||
| Q4 24 | 15.0% | — | ||
| Q3 24 | 15.4% | -85.1% | ||
| Q2 24 | 15.3% | 10.6% |
| Q1 26 | — | $0.07 | ||
| Q4 25 | $1.13 | $0.05 | ||
| Q3 25 | $1.19 | $0.12 | ||
| Q2 25 | $1.17 | $-0.11 | ||
| Q1 25 | $1.30 | $0.10 | ||
| Q4 24 | $1.04 | $0.38 | ||
| Q3 24 | $1.08 | $-3.11 | ||
| Q2 24 | $1.12 | $0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $144.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $653.9M |
| Total Assets | $973.6M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $144.3M | ||
| Q4 25 | — | $238.4M | ||
| Q3 25 | — | $246.3M | ||
| Q2 25 | — | $445.9M | ||
| Q1 25 | — | $493.6M | ||
| Q4 24 | — | $484.6M | ||
| Q3 24 | — | $453.8M | ||
| Q2 24 | — | $404.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $372.2M | ||
| Q3 25 | — | $376.7M | ||
| Q2 25 | — | $580.5M | ||
| Q1 25 | — | $583.4M | ||
| Q4 24 | — | $585.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $653.9M | ||
| Q4 25 | $713.3M | $693.1M | ||
| Q3 25 | $702.5M | $727.2M | ||
| Q2 25 | $677.6M | $757.8M | ||
| Q1 25 | $641.7M | $798.5M | ||
| Q4 24 | $606.2M | $778.3M | ||
| Q3 24 | $591.2M | $749.6M | ||
| Q2 24 | $563.1M | $879.3M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $973.6M | $1.3B | ||
| Q3 25 | $978.3M | $1.3B | ||
| Q2 25 | $936.4M | $1.5B | ||
| Q1 25 | $899.6M | $1.6B | ||
| Q4 24 | $816.4M | $1.6B | ||
| Q3 24 | $802.9M | $1.5B | ||
| Q2 24 | $781.3M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| Free Cash FlowOCF − Capex | $50.8M | — |
| FCF MarginFCF / Revenue | 21.7% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $54.8M | $43.7M | ||
| Q3 25 | $51.3M | $60.8M | ||
| Q2 25 | $44.6M | $12.0M | ||
| Q1 25 | $33.0M | $35.5M | ||
| Q4 24 | $52.1M | $33.1M | ||
| Q3 24 | $45.1M | $53.9M | ||
| Q2 24 | $36.4M | $53.2M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $43.5M | ||
| Q3 25 | $48.2M | $57.0M | ||
| Q2 25 | $40.6M | $9.3M | ||
| Q1 25 | $30.1M | $26.9M | ||
| Q4 24 | $47.4M | $31.0M | ||
| Q3 24 | $42.0M | $49.8M | ||
| Q2 24 | $34.1M | $51.6M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 22.1% | ||
| Q3 25 | 21.7% | 31.7% | ||
| Q2 25 | 17.1% | 5.1% | ||
| Q1 25 | 13.5% | 15.9% | ||
| Q4 24 | 23.1% | 16.6% | ||
| Q3 24 | 20.1% | 29.6% | ||
| Q2 24 | 15.7% | 29.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 0.1% | ||
| Q3 25 | 1.4% | 2.2% | ||
| Q2 25 | 1.7% | 1.5% | ||
| Q1 25 | 1.3% | 5.1% | ||
| Q4 24 | 2.3% | 1.1% | ||
| Q3 24 | 1.5% | 2.4% | ||
| Q2 24 | 1.1% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | 11.20× | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | 7.37× | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.10× | 2.82× |
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% |
PCRX
| EXPAREL | $143.3M | 81% |
| ZILRETTA | $26.8M | 15% |
| iovera° | $6.2M | 3% |
| Bupivacaine liposome injectable suspension | $1.2M | 1% |
