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Side-by-side financial comparison of BADGER METER INC (BMI) and Phillips Edison & Company, Inc. (PECO). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $190.7M, roughly 1.2× Phillips Edison & Company, Inc.). Phillips Edison & Company, Inc. runs the higher net margin — 17.4% vs 14.3%, a 3.1% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 7.0%). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 8.7%).
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.
Consolidated Edison, Inc., commonly known as Con Edison or ConEd, is an energy company based in New York City. It is one of the largest investor-owned energy companies in the United States, with approximately $15.26 billion in annual revenues as of 2024, and over $70 billion in assets. The company provides a wide range of energy-related products and services to its customers through its subsidiaries:Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric...
BMI vs PECO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $190.7M |
| Net Profit | $33.6M | $33.2M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 30.5% |
| Net Margin | 14.3% | 17.4% |
| Revenue YoY | 14.1% | 7.0% |
| Net Profit YoY | 9.3% | 15.1% |
| EPS (diluted) | $1.13 | $0.24 |
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 | — | $190.7M | ||
| Q4 25 | $234.1M | $187.9M | ||
| Q3 25 | $222.2M | $182.7M | ||
| Q2 25 | $238.1M | $177.8M | ||
| Q1 25 | $222.2M | $178.3M | ||
| Q4 24 | $205.2M | $173.0M | ||
| Q3 24 | $208.4M | $165.5M | ||
| Q2 24 | $216.7M | $161.5M |
| Q1 26 | — | $33.2M | ||
| Q4 25 | $33.6M | $47.5M | ||
| Q3 25 | $35.1M | $24.7M | ||
| Q2 25 | $34.6M | $12.8M | ||
| Q1 25 | $38.4M | $26.3M | ||
| Q4 24 | $30.7M | $18.1M | ||
| Q3 24 | $32.0M | $11.6M | ||
| Q2 24 | $33.1M | $15.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 30.5% | ||
| Q4 25 | 18.4% | — | ||
| Q3 25 | 20.7% | — | ||
| Q2 25 | 18.8% | — | ||
| Q1 25 | 22.2% | — | ||
| Q4 24 | 19.1% | — | ||
| Q3 24 | 19.5% | — | ||
| Q2 24 | 19.2% | — |
| Q1 26 | — | 17.4% | ||
| Q4 25 | 14.3% | 25.3% | ||
| Q3 25 | 15.8% | 13.5% | ||
| Q2 25 | 14.5% | 7.2% | ||
| Q1 25 | 17.3% | 14.8% | ||
| Q4 24 | 15.0% | 10.5% | ||
| Q3 24 | 15.4% | 7.0% | ||
| Q2 24 | 15.3% | 9.5% |
| Q1 26 | — | $0.24 | ||
| Q4 25 | $1.13 | $0.38 | ||
| Q3 25 | $1.19 | $0.20 | ||
| Q2 25 | $1.17 | $0.10 | ||
| Q1 25 | $1.30 | $0.21 | ||
| Q4 24 | $1.04 | $0.16 | ||
| Q3 24 | $1.08 | $0.09 | ||
| Q2 24 | $1.12 | $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 | — | $3.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $2.3B |
| Total Assets | $973.6M | $5.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.1M | ||
| Q4 25 | — | $3.5M | ||
| Q3 25 | — | $4.1M | ||
| Q2 25 | — | $5.6M | ||
| Q1 25 | — | $5.5M | ||
| Q4 24 | — | $4.9M | ||
| Q3 24 | — | $6.4M | ||
| Q2 24 | — | $7.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.0B |
| Q1 26 | — | $2.3B | ||
| Q4 25 | $713.3M | $2.3B | ||
| Q3 25 | $702.5M | $2.3B | ||
| Q2 25 | $677.6M | $2.3B | ||
| Q1 25 | $641.7M | $2.3B | ||
| Q4 24 | $606.2M | $2.3B | ||
| Q3 24 | $591.2M | $2.2B | ||
| Q2 24 | $563.1M | $2.3B |
| Q1 26 | — | $5.4B | ||
| Q4 25 | $973.6M | $5.3B | ||
| Q3 25 | $978.3M | $5.3B | ||
| Q2 25 | $936.4M | $5.3B | ||
| Q1 25 | $899.6M | $5.2B | ||
| Q4 24 | $816.4M | $5.0B | ||
| Q3 24 | $802.9M | $5.0B | ||
| Q2 24 | $781.3M | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 1.05× | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.90× |
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 | $55.6M |
| Free Cash FlowOCF − Capex | $50.8M | — |
| FCF MarginFCF / Revenue | 21.7% | — |
| Capex IntensityCapex / Revenue | 1.7% | 12.6% |
| Cash ConversionOCF / Net Profit | 1.63× | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.6M | ||
| Q4 25 | $54.8M | $348.1M | ||
| Q3 25 | $51.3M | $95.4M | ||
| Q2 25 | $44.6M | $96.1M | ||
| Q1 25 | $33.0M | $60.5M | ||
| Q4 24 | $52.1M | $334.7M | ||
| Q3 24 | $45.1M | $109.1M | ||
| Q2 24 | $36.4M | $78.5M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | 12.6% | ||
| 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 26 | — | 1.67× | ||
| Q4 25 | 1.63× | 7.33× | ||
| Q3 25 | 1.46× | 3.87× | ||
| Q2 25 | 1.29× | 7.52× | ||
| Q1 25 | 0.86× | 2.30× | ||
| Q4 24 | 1.70× | 18.45× | ||
| Q3 24 | 1.41× | 9.40× | ||
| Q2 24 | 1.10× | 5.14× |
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% |
PECO
| Rental income | $186.3M | 98% |
| Fees and management income | $3.4M | 2% |
