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Side-by-side financial comparison of BADGER METER INC (BMI) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
Tecnoglass Inc. is the larger business by last-quarter revenue ($245.3M vs $234.1M, roughly 1.0× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 10.6%, a 3.7% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 2.4%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $11.4M). Over the past eight quarters, Tecnoglass Inc.'s revenue compounded faster (12.8% 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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
BMI vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $245.3M |
| Net Profit | $33.6M | $26.1M |
| Gross Margin | 39.7% | 40.0% |
| Operating Margin | 18.4% | 18.3% |
| Net Margin | 14.3% | 10.6% |
| Revenue YoY | 14.1% | 2.4% |
| Net Profit YoY | 9.3% | -44.5% |
| EPS (diluted) | $1.13 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $222.2M | $260.5M | ||
| Q2 25 | $238.1M | $255.5M | ||
| Q1 25 | $222.2M | $222.3M | ||
| Q4 24 | $205.2M | $239.6M | ||
| Q3 24 | $208.4M | $238.3M | ||
| Q2 24 | $216.7M | $219.7M | ||
| Q1 24 | $196.3M | $192.6M |
| Q4 25 | $33.6M | $26.1M | ||
| Q3 25 | $35.1M | $47.2M | ||
| Q2 25 | $34.6M | $44.1M | ||
| Q1 25 | $38.4M | $42.2M | ||
| Q4 24 | $30.7M | $47.0M | ||
| Q3 24 | $32.0M | $49.5M | ||
| Q2 24 | $33.1M | $35.0M | ||
| Q1 24 | $29.1M | $29.7M |
| Q4 25 | 39.7% | 40.0% | ||
| Q3 25 | 43.1% | 42.7% | ||
| Q2 25 | 41.1% | 44.7% | ||
| Q1 25 | 42.9% | 43.9% | ||
| Q4 24 | 40.3% | 44.5% | ||
| Q3 24 | 40.2% | 45.8% | ||
| Q2 24 | 39.4% | 40.8% | ||
| Q1 24 | 39.3% | 38.8% |
| Q4 25 | 18.4% | 18.3% | ||
| Q3 25 | 20.7% | 25.1% | ||
| Q2 25 | 18.8% | 24.0% | ||
| Q1 25 | 22.2% | 26.7% | ||
| Q4 24 | 19.1% | 28.0% | ||
| Q3 24 | 19.5% | 28.4% | ||
| Q2 24 | 19.2% | 23.3% | ||
| Q1 24 | 18.6% | 21.3% |
| Q4 25 | 14.3% | 10.6% | ||
| Q3 25 | 15.8% | 18.1% | ||
| Q2 25 | 14.5% | 17.3% | ||
| Q1 25 | 17.3% | 19.0% | ||
| Q4 24 | 15.0% | 19.6% | ||
| Q3 24 | 15.4% | 20.8% | ||
| Q2 24 | 15.3% | 15.9% | ||
| Q1 24 | 14.8% | 15.4% |
| Q4 25 | $1.13 | $0.57 | ||
| Q3 25 | $1.19 | $1.01 | ||
| Q2 25 | $1.17 | $0.94 | ||
| Q1 25 | $1.30 | $0.90 | ||
| Q4 24 | $1.04 | $1.00 | ||
| Q3 24 | $1.08 | $1.05 | ||
| Q2 24 | $1.12 | $0.75 | ||
| Q1 24 | $0.99 | $0.63 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $104.1M |
| Total DebtLower is stronger | — | $174.4M |
| Stockholders' EquityBook value | $713.3M | $713.1M |
| Total Assets | $973.6M | $1.3B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $104.1M | ||
| Q3 25 | — | $127.1M | ||
| Q2 25 | — | $140.9M | ||
| Q1 25 | — | $160.2M | ||
| Q4 24 | — | $137.5M | ||
| Q3 24 | — | $124.8M | ||
| Q2 24 | — | $129.5M | ||
| Q1 24 | — | $138.8M |
| Q4 25 | — | $174.4M | ||
| Q3 25 | — | $114.7M | ||
| Q2 25 | — | $110.6M | ||
| Q1 25 | — | $110.6M | ||
| Q4 24 | — | $111.1M | ||
| Q3 24 | — | $126.8M | ||
| Q2 24 | — | $144.7M | ||
| Q1 24 | — | $160.9M |
| Q4 25 | $713.3M | $713.1M | ||
| Q3 25 | $702.5M | $764.0M | ||
| Q2 25 | $677.6M | $736.0M | ||
| Q1 25 | $641.7M | $685.1M | ||
| Q4 24 | $606.2M | $631.2M | ||
| Q3 24 | $591.2M | $613.3M | ||
| Q2 24 | $563.1M | $574.8M | ||
| Q1 24 | $535.6M | $573.6M |
| Q4 25 | $973.6M | $1.3B | ||
| Q3 25 | $978.3M | $1.2B | ||
| Q2 25 | $936.4M | $1.2B | ||
| Q1 25 | $899.6M | $1.1B | ||
| Q4 24 | $816.4M | $1.0B | ||
| Q3 24 | $802.9M | $996.3M | ||
| Q2 24 | $781.3M | $942.5M | ||
| Q1 24 | $743.5M | $981.6M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $50.8M | $11.4M |
| FCF MarginFCF / Revenue | 21.7% | 4.7% |
| Capex IntensityCapex / Revenue | 1.7% | 8.0% |
| Cash ConversionOCF / Net Profit | 1.63× | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $31.0M | ||
| Q3 25 | $51.3M | $40.0M | ||
| Q2 25 | $44.6M | $17.9M | ||
| Q1 25 | $33.0M | $46.9M | ||
| Q4 24 | $52.1M | $61.1M | ||
| Q3 24 | $45.1M | $41.5M | ||
| Q2 24 | $36.4M | $34.5M | ||
| Q1 24 | $21.5M | $33.4M |
| Q4 25 | $50.8M | $11.4M | ||
| Q3 25 | $48.2M | $21.2M | ||
| Q2 25 | $40.6M | $-14.7M | ||
| Q1 25 | $30.1M | $16.5M | ||
| Q4 24 | $47.4M | $35.4M | ||
| Q3 24 | $42.0M | $17.8M | ||
| Q2 24 | $34.1M | $14.2M | ||
| Q1 24 | $18.8M | $23.6M |
| Q4 25 | 21.7% | 4.7% | ||
| Q3 25 | 21.7% | 8.2% | ||
| Q2 25 | 17.1% | -5.7% | ||
| Q1 25 | 13.5% | 7.4% | ||
| Q4 24 | 23.1% | 14.8% | ||
| Q3 24 | 20.1% | 7.5% | ||
| Q2 24 | 15.7% | 6.5% | ||
| Q1 24 | 9.6% | 12.2% |
| Q4 25 | 1.7% | 8.0% | ||
| Q3 25 | 1.4% | 7.2% | ||
| Q2 25 | 1.7% | 12.7% | ||
| Q1 25 | 1.3% | 13.7% | ||
| Q4 24 | 2.3% | 10.7% | ||
| Q3 24 | 1.5% | 9.9% | ||
| Q2 24 | 1.1% | 9.2% | ||
| Q1 24 | 1.4% | 5.1% |
| Q4 25 | 1.63× | 1.19× | ||
| Q3 25 | 1.46× | 0.85× | ||
| Q2 25 | 1.29× | 0.41× | ||
| Q1 25 | 0.86× | 1.11× | ||
| Q4 24 | 1.70× | 1.30× | ||
| Q3 24 | 1.41× | 0.84× | ||
| Q2 24 | 1.10× | 0.98× | ||
| Q1 24 | 0.74× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
