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Side-by-side financial comparison of BADGER METER INC (BMI) and WESBANCO INC (WSBC). Click either name above to swap in a different company.
WESBANCO INC is the larger business by last-quarter revenue ($257.2M vs $234.1M, roughly 1.1× BADGER METER INC). WESBANCO INC runs the higher net margin — 34.5% vs 14.3%, a 20.1% gap on every dollar of revenue. Over the past eight quarters, WESBANCO INC's revenue compounded faster (31.9% 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.
WesBanco, Inc., is a bank holding company headquartered in Wheeling, West Virginia, United States. It has over 200 branches in West Virginia, Ohio, Western Pennsylvania, Kentucky, Maryland, and Southern Indiana.
BMI vs WSBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $257.2M |
| Net Profit | $33.6M | $88.6M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | — |
| Net Margin | 14.3% | 34.5% |
| Revenue YoY | 14.1% | — |
| Net Profit YoY | 9.3% | 54.4% |
| EPS (diluted) | $1.13 | $0.88 |
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 | — | $257.2M | ||
| Q4 25 | $234.1M | $265.6M | ||
| Q3 25 | $222.2M | $261.6M | ||
| Q2 25 | $238.1M | $260.7M | ||
| Q1 25 | $222.2M | $193.2M | ||
| Q4 24 | $205.2M | $162.9M | ||
| Q3 24 | $208.4M | $150.8M | ||
| Q2 24 | $216.7M | $147.9M |
| Q1 26 | — | $88.6M | ||
| Q4 25 | $33.6M | $91.1M | ||
| Q3 25 | $35.1M | $83.6M | ||
| Q2 25 | $34.6M | $57.4M | ||
| Q1 25 | $38.4M | $-9.0M | ||
| Q4 24 | $30.7M | $49.6M | ||
| Q3 24 | $32.0M | $37.3M | ||
| 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 | — | — | ||
| Q4 25 | 18.4% | 43.2% | ||
| Q3 25 | 20.7% | 39.5% | ||
| Q2 25 | 18.8% | 27.2% | ||
| Q1 25 | 22.2% | -5.0% | ||
| Q4 24 | 19.1% | 38.0% | ||
| Q3 24 | 19.5% | 29.7% | ||
| Q2 24 | 19.2% | 23.7% |
| Q1 26 | — | 34.5% | ||
| Q4 25 | 14.3% | 34.3% | ||
| Q3 25 | 15.8% | 31.9% | ||
| Q2 25 | 14.5% | 22.0% | ||
| Q1 25 | 17.3% | -4.7% | ||
| Q4 24 | 15.0% | 30.5% | ||
| Q3 24 | 15.4% | 24.7% | ||
| Q2 24 | 15.3% | 19.5% |
| Q1 26 | — | $0.88 | ||
| Q4 25 | $1.13 | $0.97 | ||
| Q3 25 | $1.19 | $0.84 | ||
| Q2 25 | $1.17 | $0.57 | ||
| Q1 25 | $1.30 | $-0.15 | ||
| Q4 24 | $1.04 | $0.72 | ||
| Q3 24 | $1.08 | $0.54 | ||
| Q2 24 | $1.12 | $0.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $713.3M | $4.1B |
| Total Assets | $973.6M | $27.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $956.1M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $568.1M | ||
| Q3 24 | — | $620.9M | ||
| Q2 24 | — | $486.8M |
| Q1 26 | — | $4.1B | ||
| Q4 25 | $713.3M | $4.0B | ||
| Q3 25 | $702.5M | $4.1B | ||
| Q2 25 | $677.6M | $3.8B | ||
| Q1 25 | $641.7M | $3.8B | ||
| Q4 24 | $606.2M | $2.8B | ||
| Q3 24 | $591.2M | $2.8B | ||
| Q2 24 | $563.1M | $2.5B |
| Q1 26 | — | $27.5B | ||
| Q4 25 | $973.6M | $27.7B | ||
| Q3 25 | $978.3M | $27.5B | ||
| Q2 25 | $936.4M | $27.6B | ||
| Q1 25 | $899.6M | $27.4B | ||
| Q4 24 | $816.4M | $18.7B | ||
| Q3 24 | $802.9M | $18.5B | ||
| Q2 24 | $781.3M | $18.1B |
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 | $290.4M | ||
| Q3 25 | $51.3M | $116.9M | ||
| Q2 25 | $44.6M | $105.0M | ||
| Q1 25 | $33.0M | $-26.4M | ||
| Q4 24 | $52.1M | $211.0M | ||
| Q3 24 | $45.1M | $60.7M | ||
| Q2 24 | $36.4M | $18.2M |
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $280.0M | ||
| Q3 25 | $48.2M | $114.9M | ||
| Q2 25 | $40.6M | $98.3M | ||
| Q1 25 | $30.1M | $-30.7M | ||
| Q4 24 | $47.4M | $200.7M | ||
| Q3 24 | $42.0M | $56.9M | ||
| Q2 24 | $34.1M | $17.3M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 105.4% | ||
| Q3 25 | 21.7% | 43.9% | ||
| Q2 25 | 17.1% | 37.7% | ||
| Q1 25 | 13.5% | -15.9% | ||
| Q4 24 | 23.1% | 123.2% | ||
| Q3 24 | 20.1% | 37.7% | ||
| Q2 24 | 15.7% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 3.9% | ||
| Q3 25 | 1.4% | 0.8% | ||
| Q2 25 | 1.7% | 2.6% | ||
| Q1 25 | 1.3% | 2.2% | ||
| Q4 24 | 2.3% | 6.3% | ||
| Q3 24 | 1.5% | 2.5% | ||
| Q2 24 | 1.1% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 3.19× | ||
| Q3 25 | 1.46× | 1.40× | ||
| Q2 25 | 1.29× | 1.83× | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.70× | 4.25× | ||
| Q3 24 | 1.41× | 1.63× | ||
| Q2 24 | 1.10× | 0.63× |
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% |
WSBC
| Net Interest Income | $215.4M | 84% |
| Noninterest Income | $41.8M | 16% |
