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Side-by-side financial comparison of BADGER METER INC (BMI) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $188.3M, roughly 1.2× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 14.3%, a 33.6% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs -21.9%). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs -15.4%).
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.
BMI vs RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $188.3M |
| Net Profit | $33.6M | $90.3M |
| Gross Margin | 39.7% | 79.5% |
| Operating Margin | 18.4% | 32.3% |
| Net Margin | 14.3% | 47.9% |
| Revenue YoY | 14.1% | -21.9% |
| Net Profit YoY | 9.3% | 1710.8% |
| EPS (diluted) | $1.13 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $222.2M | $215.3M | ||
| Q2 25 | $238.1M | $188.2M | ||
| Q1 25 | $222.2M | $197.2M | ||
| Q4 24 | $205.2M | $241.0M | ||
| Q3 24 | $208.4M | $225.5M | ||
| Q2 24 | $216.7M | $256.0M | ||
| Q1 24 | $196.3M | $263.4M |
| Q4 25 | $33.6M | $90.3M | ||
| Q3 25 | $35.1M | $91.1M | ||
| Q2 25 | $34.6M | $139.5M | ||
| Q1 25 | $38.4M | $-10.0M | ||
| Q4 24 | $30.7M | $-5.6M | ||
| Q3 24 | $32.0M | $-284.4M | ||
| Q2 24 | $33.1M | $-433.6M | ||
| Q1 24 | $29.1M | $-49.2M |
| Q4 25 | 39.7% | 79.5% | ||
| Q3 25 | 43.1% | 83.7% | ||
| Q2 25 | 41.1% | 81.3% | ||
| Q1 25 | 42.9% | 81.4% | ||
| Q4 24 | 40.3% | 79.8% | ||
| Q3 24 | 40.2% | 82.1% | ||
| Q2 24 | 39.4% | 84.5% | ||
| Q1 24 | 39.3% | 85.3% |
| Q4 25 | 18.4% | 32.3% | ||
| Q3 25 | 20.7% | 30.4% | ||
| Q2 25 | 18.8% | 5.7% | ||
| Q1 25 | 22.2% | -31.2% | ||
| Q4 24 | 19.1% | -69.2% | ||
| Q3 24 | 19.5% | -36.4% | ||
| Q2 24 | 19.2% | -90.8% | ||
| Q1 24 | 18.6% | -6.1% |
| Q4 25 | 14.3% | 47.9% | ||
| Q3 25 | 15.8% | 42.3% | ||
| Q2 25 | 14.5% | 74.1% | ||
| Q1 25 | 17.3% | -5.1% | ||
| Q4 24 | 15.0% | -2.3% | ||
| Q3 24 | 15.4% | -126.1% | ||
| Q2 24 | 15.3% | -169.4% | ||
| Q1 24 | 14.8% | -18.7% |
| Q4 25 | $1.13 | $2.78 | ||
| Q3 25 | $1.19 | $2.91 | ||
| Q2 25 | $1.17 | $4.50 | ||
| Q1 25 | $1.30 | $-0.39 | ||
| Q4 24 | $1.04 | $-0.01 | ||
| Q3 24 | $1.08 | $-9.39 | ||
| Q2 24 | $1.12 | $-14.35 | ||
| Q1 24 | $0.99 | $-1.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $713.3M | $-171.5M |
| Total Assets | $973.6M | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $226.6M | ||
| Q3 25 | — | $184.2M | ||
| Q2 25 | — | $267.4M | ||
| Q1 25 | — | $138.3M | ||
| Q4 24 | — | $146.9M | ||
| Q3 24 | — | $159.2M | ||
| Q2 24 | — | $236.9M | ||
| Q1 24 | — | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $713.3M | $-171.5M | ||
| Q3 25 | $702.5M | $-260.5M | ||
| Q2 25 | $677.6M | $-351.7M | ||
| Q1 25 | $641.7M | $-496.8M | ||
| Q4 24 | $606.2M | $-488.2M | ||
| Q3 24 | $591.2M | $-497.6M | ||
| Q2 24 | $563.1M | $-218.3M | ||
| Q1 24 | $535.6M | $228.4M |
| Q4 25 | $973.6M | $1.7B | ||
| Q3 25 | $978.3M | $1.7B | ||
| Q2 25 | $936.4M | $1.5B | ||
| Q1 25 | $899.6M | $1.5B | ||
| Q4 24 | $816.4M | $1.8B | ||
| Q3 24 | $802.9M | $2.2B | ||
| Q2 24 | $781.3M | $3.2B | ||
| Q1 24 | $743.5M | $5.0B |
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 | $26.2M |
| Free Cash FlowOCF − Capex | $50.8M | — |
| FCF MarginFCF / Revenue | 21.7% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 1.63× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $26.2M | ||
| Q3 25 | $51.3M | $-60.6M | ||
| Q2 25 | $44.6M | $-25.6M | ||
| Q1 25 | $33.0M | $184.0K | ||
| Q4 24 | $52.1M | $-2.7M | ||
| Q3 24 | $45.1M | $19.5M | ||
| Q2 24 | $36.4M | $111.5M | ||
| Q1 24 | $21.5M | $135.4M |
| 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× | 0.29× | ||
| Q3 25 | 1.46× | -0.66× | ||
| Q2 25 | 1.29× | -0.18× | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
