vs
Side-by-side financial comparison of BADGER METER INC (BMI) and Wingstop Inc. (WING). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $183.7M, roughly 1.3× Wingstop Inc.). Wingstop Inc. runs the higher net margin — 16.3% vs 14.3%, a 1.9% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs 7.4%). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 8.6%).
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.
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
BMI vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $183.7M |
| Net Profit | $33.6M | $29.9M |
| Gross Margin | 39.7% | 86.5% |
| Operating Margin | 18.4% | 27.4% |
| Net Margin | 14.3% | 16.3% |
| Revenue YoY | 14.1% | 7.4% |
| Net Profit YoY | 9.3% | — |
| EPS (diluted) | $1.13 | $1.08 |
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 | — | $183.7M | ||
| Q4 25 | $234.1M | $175.7M | ||
| Q3 25 | $222.2M | $175.7M | ||
| Q2 25 | $238.1M | $174.3M | ||
| Q1 25 | $222.2M | $171.1M | ||
| Q4 24 | $205.2M | $161.8M | ||
| Q3 24 | $208.4M | $162.5M | ||
| Q2 24 | $216.7M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $33.6M | $26.8M | ||
| Q3 25 | $35.1M | $28.5M | ||
| Q2 25 | $34.6M | $26.8M | ||
| Q1 25 | $38.4M | $92.3M | ||
| Q4 24 | $30.7M | $26.8M | ||
| Q3 24 | $32.0M | $25.7M | ||
| Q2 24 | $33.1M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.1% | — | ||
| Q2 25 | 41.1% | — | ||
| Q1 25 | 42.9% | — | ||
| Q4 24 | 40.3% | 85.6% | ||
| Q3 24 | 40.2% | 85.0% | ||
| Q2 24 | 39.4% | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 18.4% | 26.7% | ||
| Q3 25 | 20.7% | 27.9% | ||
| Q2 25 | 18.8% | 25.9% | ||
| Q1 25 | 22.2% | 22.4% | ||
| Q4 24 | 19.1% | 25.9% | ||
| Q3 24 | 19.5% | 24.5% | ||
| Q2 24 | 19.2% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | 14.3% | 15.2% | ||
| Q3 25 | 15.8% | 16.2% | ||
| Q2 25 | 14.5% | 15.4% | ||
| Q1 25 | 17.3% | 53.9% | ||
| Q4 24 | 15.0% | 16.5% | ||
| Q3 24 | 15.4% | 15.8% | ||
| Q2 24 | 15.3% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $1.13 | $0.99 | ||
| Q3 25 | $1.19 | $1.02 | ||
| Q2 25 | $1.17 | $0.96 | ||
| Q1 25 | $1.30 | $3.24 | ||
| Q4 24 | $1.04 | $0.91 | ||
| Q3 24 | $1.08 | $0.88 | ||
| Q2 24 | $1.12 | $0.93 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $128.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | — |
| Total Assets | $973.6M | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | — | $196.6M | ||
| Q3 25 | — | $237.6M | ||
| Q2 25 | — | $227.9M | ||
| Q1 25 | — | $251.4M | ||
| Q4 24 | — | $315.9M | ||
| Q3 24 | — | $84.0M | ||
| Q2 24 | — | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $713.3M | $-736.8M | ||
| Q3 25 | $702.5M | $-702.6M | ||
| Q2 25 | $677.6M | $-686.0M | ||
| Q1 25 | $641.7M | $-715.0M | ||
| Q4 24 | $606.2M | $-675.6M | ||
| Q3 24 | $591.2M | $-447.5M | ||
| Q2 24 | $563.1M | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $973.6M | $693.4M | ||
| Q3 25 | $978.3M | $721.0M | ||
| Q2 25 | $936.4M | $708.3M | ||
| Q1 25 | $899.6M | $696.8M | ||
| Q4 24 | $816.4M | $716.2M | ||
| Q3 24 | $802.9M | $484.8M | ||
| Q2 24 | $781.3M | $451.8M |
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 | $57.3M | ||
| Q3 25 | $51.3M | $63.9M | ||
| Q2 25 | $44.6M | $6.6M | ||
| Q1 25 | $33.0M | $25.3M | ||
| Q4 24 | $52.1M | $7.7M | ||
| Q3 24 | $45.1M | $69.0M | ||
| Q2 24 | $36.4M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $34.5M | ||
| Q3 25 | $48.2M | $61.7M | ||
| Q2 25 | $40.6M | $-7.8M | ||
| Q1 25 | $30.1M | $17.3M | ||
| Q4 24 | $47.4M | $-8.6M | ||
| Q3 24 | $42.0M | $54.9M | ||
| Q2 24 | $34.1M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 19.6% | ||
| Q3 25 | 21.7% | 35.1% | ||
| Q2 25 | 17.1% | -4.5% | ||
| Q1 25 | 13.5% | 10.1% | ||
| Q4 24 | 23.1% | -5.3% | ||
| Q3 24 | 20.1% | 33.8% | ||
| Q2 24 | 15.7% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 13.0% | ||
| Q3 25 | 1.4% | 1.3% | ||
| Q2 25 | 1.7% | 8.2% | ||
| Q1 25 | 1.3% | 4.7% | ||
| Q4 24 | 2.3% | 10.1% | ||
| Q3 24 | 1.5% | 8.7% | ||
| Q2 24 | 1.1% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 2.14× | ||
| Q3 25 | 1.46× | 2.24× | ||
| Q2 25 | 1.29× | 0.25× | ||
| Q1 25 | 0.86× | 0.27× | ||
| Q4 24 | 1.70× | 0.29× | ||
| Q3 24 | 1.41× | 2.68× | ||
| Q2 24 | 1.10× | 1.32× |
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% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
