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Side-by-side financial comparison of BADGER METER INC (BMI) and UDR, Inc. (UDR). Click either name above to swap in a different company.
UDR, Inc. is the larger business by last-quarter revenue ($425.8M vs $234.1M, roughly 1.8× BADGER METER INC). UDR, Inc. runs the higher net margin — 44.6% vs 14.3%, a 30.2% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 0.9%). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 1.3%).
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.
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
BMI vs UDR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $425.8M |
| Net Profit | $33.6M | $189.8M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 54.0% |
| Net Margin | 14.3% | 44.6% |
| Revenue YoY | 14.1% | 0.9% |
| Net Profit YoY | 9.3% | 147.2% |
| EPS (diluted) | $1.13 | $0.63 |
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 | — | $425.8M | ||
| Q4 25 | $234.1M | $433.1M | ||
| Q3 25 | $222.2M | $431.9M | ||
| Q2 25 | $238.1M | $425.4M | ||
| Q1 25 | $222.2M | $421.9M | ||
| Q4 24 | $205.2M | $422.7M | ||
| Q3 24 | $208.4M | $420.2M | ||
| Q2 24 | $216.7M | $415.3M |
| Q1 26 | — | $189.8M | ||
| Q4 25 | $33.6M | $222.9M | ||
| Q3 25 | $35.1M | $40.4M | ||
| Q2 25 | $34.6M | $37.7M | ||
| Q1 25 | $38.4M | $76.7M | ||
| Q4 24 | $30.7M | $-5.0M | ||
| Q3 24 | $32.0M | $22.6M | ||
| Q2 24 | $33.1M | $28.9M |
| 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 | — | 54.0% | ||
| Q4 25 | 18.4% | 64.1% | ||
| Q3 25 | 20.7% | 17.7% | ||
| Q2 25 | 18.8% | 18.2% | ||
| Q1 25 | 22.2% | 29.0% | ||
| Q4 24 | 19.1% | 15.7% | ||
| Q3 24 | 19.5% | 16.6% | ||
| Q2 24 | 19.2% | 16.5% |
| Q1 26 | — | 44.6% | ||
| Q4 25 | 14.3% | 51.5% | ||
| Q3 25 | 15.8% | 9.4% | ||
| Q2 25 | 14.5% | 8.9% | ||
| Q1 25 | 17.3% | 18.2% | ||
| Q4 24 | 15.0% | -220.5% | ||
| Q3 24 | 15.4% | 5.4% | ||
| Q2 24 | 15.3% | 7.0% |
| Q1 26 | — | $0.63 | ||
| Q4 25 | $1.13 | $0.67 | ||
| Q3 25 | $1.19 | $0.12 | ||
| Q2 25 | $1.17 | $0.11 | ||
| Q1 25 | $1.30 | $0.23 | ||
| Q4 24 | $1.04 | $-0.01 | ||
| Q3 24 | $1.08 | $0.06 | ||
| Q2 24 | $1.12 | $0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $3.3B |
| Total Assets | $973.6M | $10.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3M | ||
| Q4 25 | — | $1.2M | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $1.5M | ||
| Q1 25 | — | $1.3M | ||
| Q4 24 | — | $1.3M | ||
| Q3 24 | — | $2.3M | ||
| Q2 24 | — | $2.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $5.8B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.8B | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $5.8B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $713.3M | $3.3B | ||
| Q3 25 | $702.5M | $3.3B | ||
| Q2 25 | $677.6M | $3.3B | ||
| Q1 25 | $641.7M | $3.3B | ||
| Q4 24 | $606.2M | $3.4B | ||
| Q3 24 | $591.2M | $3.5B | ||
| Q2 24 | $563.1M | $3.7B |
| Q1 26 | — | $10.3B | ||
| Q4 25 | $973.6M | $10.6B | ||
| Q3 25 | $978.3M | $10.6B | ||
| Q2 25 | $936.4M | $10.6B | ||
| Q1 25 | $899.6M | $10.7B | ||
| Q4 24 | $816.4M | $10.9B | ||
| Q3 24 | $802.9M | $11.1B | ||
| Q2 24 | $781.3M | $11.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 1.78× | ||
| Q2 25 | — | 1.74× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.69× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.55× |
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% | 4.9% |
| 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 | $902.9M | ||
| Q3 25 | $51.3M | $234.9M | ||
| Q2 25 | $44.6M | $250.3M | ||
| Q1 25 | $33.0M | $156.2M | ||
| Q4 24 | $52.1M | $876.8M | ||
| Q3 24 | $45.1M | $230.3M | ||
| Q2 24 | $36.4M | $238.5M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $650.0M | ||
| Q3 25 | $48.2M | $164.6M | ||
| Q2 25 | $40.6M | $190.1M | ||
| Q1 25 | $30.1M | $103.2M | ||
| Q4 24 | $47.4M | $627.0M | ||
| Q3 24 | $42.0M | $161.3M | ||
| Q2 24 | $34.1M | $171.1M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 150.1% | ||
| Q3 25 | 21.7% | 38.1% | ||
| Q2 25 | 17.1% | 44.7% | ||
| Q1 25 | 13.5% | 24.5% | ||
| Q4 24 | 23.1% | 148.3% | ||
| Q3 24 | 20.1% | 38.4% | ||
| Q2 24 | 15.7% | 41.2% |
| Q1 26 | — | 4.9% | ||
| Q4 25 | 1.7% | 58.4% | ||
| Q3 25 | 1.4% | 16.3% | ||
| Q2 25 | 1.7% | 14.2% | ||
| Q1 25 | 1.3% | 12.6% | ||
| Q4 24 | 2.3% | 59.1% | ||
| Q3 24 | 1.5% | 16.4% | ||
| Q2 24 | 1.1% | 16.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 4.05× | ||
| Q3 25 | 1.46× | 5.81× | ||
| Q2 25 | 1.29× | 6.64× | ||
| Q1 25 | 0.86× | 2.04× | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | 10.19× | ||
| Q2 24 | 1.10× | 8.26× |
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% |
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
