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Side-by-side financial comparison of BADGER METER INC (BMI) and UFP TECHNOLOGIES INC (UFPT). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $148.9M, roughly 1.6× UFP TECHNOLOGIES INC). BADGER METER INC runs the higher net margin — 14.3% vs 11.8%, a 2.5% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 3.4%). Over the past eight quarters, UFP TECHNOLOGIES INC's revenue compounded faster (19.1% 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.
UFP Technologies, Inc. is an American multinational developer and custom manufacturer of comprehensive solutions for medical devices, sterile packaging, and other highly engineered custom products.
BMI vs UFPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $148.9M |
| Net Profit | $33.6M | $17.6M |
| Gross Margin | 39.7% | 28.2% |
| Operating Margin | 18.4% | 14.4% |
| Net Margin | 14.3% | 11.8% |
| Revenue YoY | 14.1% | 3.4% |
| Net Profit YoY | 9.3% | 7.3% |
| EPS (diluted) | $1.13 | $2.22 |
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 | $148.9M | ||
| Q3 25 | $222.2M | $154.6M | ||
| Q2 25 | $238.1M | $151.2M | ||
| Q1 25 | $222.2M | $148.1M | ||
| Q4 24 | $205.2M | $144.1M | ||
| Q3 24 | $208.4M | $145.2M | ||
| Q2 24 | $216.7M | $110.2M | ||
| Q1 24 | $196.3M | $105.0M |
| Q4 25 | $33.6M | $17.6M | ||
| Q3 25 | $35.1M | $16.4M | ||
| Q2 25 | $34.6M | $17.2M | ||
| Q1 25 | $38.4M | $17.2M | ||
| Q4 24 | $30.7M | $16.4M | ||
| Q3 24 | $32.0M | $16.4M | ||
| Q2 24 | $33.1M | $13.6M | ||
| Q1 24 | $29.1M | $12.7M |
| Q4 25 | 39.7% | 28.2% | ||
| Q3 25 | 43.1% | 27.7% | ||
| Q2 25 | 41.1% | 28.8% | ||
| Q1 25 | 42.9% | 28.5% | ||
| Q4 24 | 40.3% | 29.2% | ||
| Q3 24 | 40.2% | 28.6% | ||
| Q2 24 | 39.4% | 30.0% | ||
| Q1 24 | 39.3% | 28.6% |
| Q4 25 | 18.4% | 14.4% | ||
| Q3 25 | 20.7% | 15.1% | ||
| Q2 25 | 18.8% | 16.1% | ||
| Q1 25 | 22.2% | 15.6% | ||
| Q4 24 | 19.1% | 15.4% | ||
| Q3 24 | 19.5% | 17.1% | ||
| Q2 24 | 19.2% | 16.3% | ||
| Q1 24 | 18.6% | 15.2% |
| Q4 25 | 14.3% | 11.8% | ||
| Q3 25 | 15.8% | 10.6% | ||
| Q2 25 | 14.5% | 11.4% | ||
| Q1 25 | 17.3% | 11.6% | ||
| Q4 24 | 15.0% | 11.4% | ||
| Q3 24 | 15.4% | 11.3% | ||
| Q2 24 | 15.3% | 12.3% | ||
| Q1 24 | 14.8% | 12.1% |
| Q4 25 | $1.13 | $2.22 | ||
| Q3 25 | $1.19 | $2.11 | ||
| Q2 25 | $1.17 | $2.21 | ||
| Q1 25 | $1.30 | $2.21 | ||
| Q4 24 | $1.04 | $2.08 | ||
| Q3 24 | $1.08 | $2.11 | ||
| Q2 24 | $1.12 | $1.75 | ||
| Q1 24 | $0.99 | $1.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $20.3M |
| Total DebtLower is stronger | — | $135.5M |
| Stockholders' EquityBook value | $713.3M | $423.9M |
| Total Assets | $973.6M | $655.1M |
| Debt / EquityLower = less leverage | — | 0.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.3M | ||
| Q3 25 | — | $18.2M | ||
| Q2 25 | — | $14.9M | ||
| Q1 25 | — | $14.0M | ||
| Q4 24 | — | $13.4M | ||
| Q3 24 | — | $16.4M | ||
| Q2 24 | — | $16.7M | ||
| Q1 24 | — | $11.4M |
| Q4 25 | — | $135.5M | ||
| Q3 25 | — | $146.1M | ||
| Q2 25 | — | $163.6M | ||
| Q1 25 | — | $163.6M | ||
| Q4 24 | — | $189.4M | ||
| Q3 24 | — | $212.0M | ||
| Q2 24 | — | $35.2M | ||
| Q1 24 | — | $34.0M |
| Q4 25 | $713.3M | $423.9M | ||
| Q3 25 | $702.5M | $403.9M | ||
| Q2 25 | $677.6M | $385.5M | ||
| Q1 25 | $641.7M | $360.7M | ||
| Q4 24 | $606.2M | $342.8M | ||
| Q3 24 | $591.2M | $329.1M | ||
| Q2 24 | $563.1M | $310.2M | ||
| Q1 24 | $535.6M | $295.0M |
| Q4 25 | $973.6M | $655.1M | ||
| Q3 25 | $978.3M | $652.8M | ||
| Q2 25 | $936.4M | $634.7M | ||
| Q1 25 | $899.6M | $642.6M | ||
| Q4 24 | $816.4M | $629.0M | ||
| Q3 24 | $802.9M | $638.5M | ||
| Q2 24 | $781.3M | $422.4M | ||
| Q1 24 | $743.5M | $407.7M |
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.11× | ||
| Q1 24 | — | 0.12× |
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 | $16.8M |
| Free Cash FlowOCF − Capex | $50.8M | — |
| FCF MarginFCF / Revenue | 21.7% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | 1.63× | 0.96× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $16.8M | ||
| Q3 25 | $51.3M | $35.9M | ||
| Q2 25 | $44.6M | $25.3M | ||
| Q1 25 | $33.0M | $13.8M | ||
| Q4 24 | $52.1M | $24.4M | ||
| Q3 24 | $45.1M | $19.8M | ||
| Q2 24 | $36.4M | $11.7M | ||
| Q1 24 | $21.5M | $10.7M |
| Q4 25 | $50.8M | — | ||
| Q3 25 | $48.2M | — | ||
| Q2 25 | $40.6M | $22.5M | ||
| Q1 25 | $30.1M | $11.0M | ||
| Q4 24 | $47.4M | $21.4M | ||
| Q3 24 | $42.0M | $17.7M | ||
| Q2 24 | $34.1M | $8.9M | ||
| Q1 24 | $18.8M | $8.9M |
| Q4 25 | 21.7% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 17.1% | 14.9% | ||
| Q1 25 | 13.5% | 7.4% | ||
| Q4 24 | 23.1% | 14.9% | ||
| Q3 24 | 20.1% | 12.2% | ||
| Q2 24 | 15.7% | 8.1% | ||
| Q1 24 | 9.6% | 8.5% |
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | 1.9% | ||
| Q1 25 | 1.3% | 1.9% | ||
| Q4 24 | 2.3% | 2.1% | ||
| Q3 24 | 1.5% | 1.5% | ||
| Q2 24 | 1.1% | 2.5% | ||
| Q1 24 | 1.4% | 1.6% |
| Q4 25 | 1.63× | 0.96× | ||
| Q3 25 | 1.46× | 2.19× | ||
| Q2 25 | 1.29× | 1.47× | ||
| Q1 25 | 0.86× | 0.80× | ||
| Q4 24 | 1.70× | 1.49× | ||
| Q3 24 | 1.41× | 1.21× | ||
| Q2 24 | 1.10× | 0.86× | ||
| Q1 24 | 0.74× | 0.84× |
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% |
UFPT
| Products | $145.1M | 97% |
| Engineering And Development | $1.8M | 1% |
