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Side-by-side financial comparison of BADGER METER INC (BMI) and Porch Group, Inc. (PRCH). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $121.1M, roughly 1.9× Porch Group, Inc.). BADGER METER INC runs the higher net margin — 14.3% vs -3.9%, a 18.2% gap on every dollar of revenue. On growth, Porch Group, Inc. posted the faster year-over-year revenue change (100.0% vs 14.1%). Over the past eight quarters, Porch Group, Inc.'s revenue compounded faster (26.4% CAGR vs 9.2%).
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.
Porch is a website that tries to connect homeowners with local home improvement contractors. The site features advice articles, cost guide, and online booking for over 160 home projects.
BMI vs PRCH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $121.1M |
| Net Profit | $33.6M | $-4.7M |
| Gross Margin | 39.7% | 52.7% |
| Operating Margin | 18.4% | — |
| Net Margin | 14.3% | -3.9% |
| Revenue YoY | 14.1% | 100.0% |
| Net Profit YoY | 9.3% | 2.0% |
| EPS (diluted) | $1.13 | $-0.04 |
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 | — | $121.1M | ||
| Q4 25 | $234.1M | $112.3M | ||
| Q3 25 | $222.2M | $115.1M | ||
| Q2 25 | $238.1M | $107.0M | ||
| Q1 25 | $222.2M | $84.5M | ||
| Q4 24 | $205.2M | $75.3M | ||
| Q3 24 | $208.4M | $77.7M | ||
| Q2 24 | $216.7M | $75.9M |
| Q1 26 | — | $-4.7M | ||
| Q4 25 | $33.6M | $-3.5M | ||
| Q3 25 | $35.1M | $-10.9M | ||
| Q2 25 | $34.6M | $2.6M | ||
| Q1 25 | $38.4M | $8.4M | ||
| Q4 24 | $30.7M | $30.5M | ||
| Q3 24 | $32.0M | $14.4M | ||
| Q2 24 | $33.1M | $-64.3M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 39.7% | 99.5% | ||
| Q3 25 | 43.1% | 75.6% | ||
| Q2 25 | 41.1% | 70.9% | ||
| Q1 25 | 42.9% | 77.4% | ||
| Q4 24 | 40.3% | — | ||
| Q3 24 | 40.2% | 79.4% | ||
| Q2 24 | 39.4% | 22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 18.4% | 14.7% | ||
| Q3 25 | 20.7% | 14.2% | ||
| Q2 25 | 18.8% | 4.7% | ||
| Q1 25 | 22.2% | -1.5% | ||
| Q4 24 | 19.1% | 33.3% | ||
| Q3 24 | 19.5% | -3.2% | ||
| Q2 24 | 19.2% | -69.2% |
| Q1 26 | — | -3.9% | ||
| Q4 25 | 14.3% | -3.1% | ||
| Q3 25 | 15.8% | -9.4% | ||
| Q2 25 | 14.5% | 2.4% | ||
| Q1 25 | 17.3% | 9.9% | ||
| Q4 24 | 15.0% | 40.5% | ||
| Q3 24 | 15.4% | 18.5% | ||
| Q2 24 | 15.3% | -84.8% |
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $1.13 | $0.00 | ||
| Q3 25 | $1.19 | $-0.10 | ||
| Q2 25 | $1.17 | $0.00 | ||
| Q1 25 | $1.30 | $0.07 | ||
| Q4 24 | $1.04 | $0.34 | ||
| Q3 24 | $1.08 | $0.12 | ||
| Q2 24 | $1.12 | $-0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $68.4M |
| Total DebtLower is stronger | — | $391.3M |
| Stockholders' EquityBook value | $713.3M | $26.3M |
| Total Assets | $973.6M | $806.6M |
| Debt / EquityLower = less leverage | — | 14.87× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $68.4M | ||
| Q4 25 | — | $57.3M | ||
| Q3 25 | — | $85.0M | ||
| Q2 25 | — | $79.8M | ||
| Q1 25 | — | $70.4M | ||
| Q4 24 | — | $191.7M | ||
| Q3 24 | — | $238.6M | ||
| Q2 24 | — | $308.4M |
| Q1 26 | — | $391.3M | ||
| Q4 25 | — | $392.8M | ||
| Q3 25 | — | $387.1M | ||
| Q2 25 | — | $394.1M | ||
| Q1 25 | — | $409.2M | ||
| Q4 24 | — | $403.9M | ||
| Q3 24 | — | $399.0M | ||
| Q2 24 | — | $436.8M |
| Q1 26 | — | $26.3M | ||
| Q4 25 | $713.3M | $-24.6M | ||
| Q3 25 | $702.5M | $-27.9M | ||
| Q2 25 | $677.6M | $-29.3M | ||
| Q1 25 | $641.7M | $-52.4M | ||
| Q4 24 | $606.2M | $-43.2M | ||
| Q3 24 | $591.2M | $-77.0M | ||
| Q2 24 | $563.1M | $-101.9M |
| Q1 26 | — | $806.6M | ||
| Q4 25 | $973.6M | $797.4M | ||
| Q3 25 | $978.3M | $787.7M | ||
| Q2 25 | $936.4M | $770.7M | ||
| Q1 25 | $899.6M | $802.3M | ||
| Q4 24 | $816.4M | $814.0M | ||
| Q3 24 | $802.9M | $867.3M | ||
| Q2 24 | $781.3M | $876.1M |
| Q1 26 | — | 14.87× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $1.2M | ||
| Q3 25 | $51.3M | $40.8M | ||
| Q2 25 | $44.6M | $35.6M | ||
| Q1 25 | $33.0M | $-11.2M | ||
| Q4 24 | $52.1M | $-26.6M | ||
| Q3 24 | $45.1M | $12.4M | ||
| Q2 24 | $36.4M | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $1.1M | ||
| Q3 25 | $48.2M | $40.7M | ||
| Q2 25 | $40.6M | $35.4M | ||
| Q1 25 | $30.1M | $-11.2M | ||
| Q4 24 | $47.4M | $-26.8M | ||
| Q3 24 | $42.0M | $12.2M | ||
| Q2 24 | $34.1M | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 1.0% | ||
| Q3 25 | 21.7% | 35.4% | ||
| Q2 25 | 17.1% | 33.0% | ||
| Q1 25 | 13.5% | -13.3% | ||
| Q4 24 | 23.1% | -35.6% | ||
| Q3 24 | 20.1% | 15.7% | ||
| Q2 24 | 15.7% | -34.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 0.1% | ||
| Q3 25 | 1.4% | 0.1% | ||
| Q2 25 | 1.7% | 0.2% | ||
| Q1 25 | 1.3% | 0.1% | ||
| Q4 24 | 2.3% | 0.3% | ||
| Q3 24 | 1.5% | 0.3% | ||
| Q2 24 | 1.1% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.29× | 13.79× | ||
| Q1 25 | 0.86× | -1.33× | ||
| Q4 24 | 1.70× | -0.87× | ||
| Q3 24 | 1.41× | 0.86× | ||
| Q2 24 | 1.10× | — |
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% |
PRCH
Segment breakdown not available.
