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Side-by-side financial comparison of BADGER METER INC (BMI) and EXPRO GROUP HOLDINGS N.V. (XPRO). Click either name above to swap in a different company.
EXPRO GROUP HOLDINGS N.V. is the larger business by last-quarter revenue ($382.1M vs $234.1M, roughly 1.6× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs 1.5%, a 12.8% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs -12.5%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $23.2M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs -0.2%).
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.
Expro is an energy services provider headquartered in Houston, Texas, United States.
BMI vs XPRO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $382.1M |
| Net Profit | $33.6M | $5.8M |
| Gross Margin | 39.7% | — |
| Operating Margin | 18.4% | 3.1% |
| Net Margin | 14.3% | 1.5% |
| Revenue YoY | 14.1% | -12.5% |
| Net Profit YoY | 9.3% | -74.9% |
| EPS (diluted) | $1.13 | $0.05 |
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 | $382.1M | ||
| Q3 25 | $222.2M | $411.4M | ||
| Q2 25 | $238.1M | $422.7M | ||
| Q1 25 | $222.2M | $390.9M | ||
| Q4 24 | $205.2M | $436.8M | ||
| Q3 24 | $208.4M | $422.8M | ||
| Q2 24 | $216.7M | $469.6M | ||
| Q1 24 | $196.3M | $383.5M |
| Q4 25 | $33.6M | $5.8M | ||
| Q3 25 | $35.1M | $14.0M | ||
| Q2 25 | $34.6M | $18.0M | ||
| Q1 25 | $38.4M | $13.9M | ||
| Q4 24 | $30.7M | $23.0M | ||
| Q3 24 | $32.0M | $16.3M | ||
| Q2 24 | $33.1M | $15.3M | ||
| Q1 24 | $29.1M | $-2.7M |
| 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 24 | 39.3% | — |
| Q4 25 | 18.4% | 3.1% | ||
| Q3 25 | 20.7% | 6.4% | ||
| Q2 25 | 18.8% | 7.7% | ||
| Q1 25 | 22.2% | 2.6% | ||
| Q4 24 | 19.1% | 7.3% | ||
| Q3 24 | 19.5% | 6.2% | ||
| Q2 24 | 19.2% | 5.9% | ||
| Q1 24 | 18.6% | 2.2% |
| Q4 25 | 14.3% | 1.5% | ||
| Q3 25 | 15.8% | 3.4% | ||
| Q2 25 | 14.5% | 4.3% | ||
| Q1 25 | 17.3% | 3.6% | ||
| Q4 24 | 15.0% | 5.3% | ||
| Q3 24 | 15.4% | 3.8% | ||
| Q2 24 | 15.3% | 3.3% | ||
| Q1 24 | 14.8% | -0.7% |
| Q4 25 | $1.13 | $0.05 | ||
| Q3 25 | $1.19 | $0.12 | ||
| Q2 25 | $1.17 | $0.16 | ||
| Q1 25 | $1.30 | $0.12 | ||
| Q4 24 | $1.04 | $0.20 | ||
| Q3 24 | $1.08 | $0.14 | ||
| Q2 24 | $1.12 | $0.13 | ||
| Q1 24 | $0.99 | $-0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $196.1M |
| Total DebtLower is stronger | — | $79.1M |
| Stockholders' EquityBook value | $713.3M | $1.5B |
| Total Assets | $973.6M | $2.3B |
| Debt / EquityLower = less leverage | — | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $196.1M | ||
| Q3 25 | — | $197.9M | ||
| Q2 25 | — | $206.8M | ||
| Q1 25 | — | $179.3M | ||
| Q4 24 | — | $183.0M | ||
| Q3 24 | — | $165.7M | ||
| Q2 24 | — | $133.5M | ||
| Q1 24 | — | $163.2M |
| Q4 25 | — | $79.1M | ||
| Q3 25 | — | $99.1M | ||
| Q2 25 | — | $121.1M | ||
| Q1 25 | — | $121.1M | ||
| Q4 24 | — | $121.1M | ||
| Q3 24 | — | $121.1M | ||
| Q2 24 | — | $121.1M | ||
| Q1 24 | — | $40.0M |
| Q4 25 | $713.3M | $1.5B | ||
| Q3 25 | $702.5M | $1.5B | ||
| Q2 25 | $677.6M | $1.5B | ||
| Q1 25 | $641.7M | $1.5B | ||
| Q4 24 | $606.2M | $1.5B | ||
| Q3 24 | $591.2M | $1.5B | ||
| Q2 24 | $563.1M | $1.5B | ||
| Q1 24 | $535.6M | $1.3B |
| Q4 25 | $973.6M | $2.3B | ||
| Q3 25 | $978.3M | $2.3B | ||
| Q2 25 | $936.4M | $2.3B | ||
| Q1 25 | $899.6M | $2.3B | ||
| Q4 24 | $816.4M | $2.3B | ||
| Q3 24 | $802.9M | $2.3B | ||
| Q2 24 | $781.3M | $2.3B | ||
| Q1 24 | $743.5M | $2.0B |
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.08× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.03× |
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 | $57.1M |
| Free Cash FlowOCF − Capex | $50.8M | $23.2M |
| FCF MarginFCF / Revenue | 21.7% | 6.1% |
| Capex IntensityCapex / Revenue | 1.7% | 8.9% |
| Cash ConversionOCF / Net Profit | 1.63× | 9.89× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $97.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $57.1M | ||
| Q3 25 | $51.3M | $63.2M | ||
| Q2 25 | $44.6M | $48.4M | ||
| Q1 25 | $33.0M | $41.5M | ||
| Q4 24 | $52.1M | $97.4M | ||
| Q3 24 | $45.1M | $55.3M | ||
| Q2 24 | $36.4M | $-13.2M | ||
| Q1 24 | $21.5M | $29.9M |
| Q4 25 | $50.8M | $23.2M | ||
| Q3 25 | $48.2M | $39.0M | ||
| Q2 25 | $40.6M | $27.2M | ||
| Q1 25 | $30.1M | $8.4M | ||
| Q4 24 | $47.4M | $53.0M | ||
| Q3 24 | $42.0M | $23.3M | ||
| Q2 24 | $34.1M | $-49.5M | ||
| Q1 24 | $18.8M | $-801.0K |
| Q4 25 | 21.7% | 6.1% | ||
| Q3 25 | 21.7% | 9.5% | ||
| Q2 25 | 17.1% | 6.4% | ||
| Q1 25 | 13.5% | 2.1% | ||
| Q4 24 | 23.1% | 12.1% | ||
| Q3 24 | 20.1% | 5.5% | ||
| Q2 24 | 15.7% | -10.5% | ||
| Q1 24 | 9.6% | -0.2% |
| Q4 25 | 1.7% | 8.9% | ||
| Q3 25 | 1.4% | 5.9% | ||
| Q2 25 | 1.7% | 5.0% | ||
| Q1 25 | 1.3% | 8.5% | ||
| Q4 24 | 2.3% | 10.2% | ||
| Q3 24 | 1.5% | 7.6% | ||
| Q2 24 | 1.1% | 7.7% | ||
| Q1 24 | 1.4% | 8.0% |
| Q4 25 | 1.63× | 9.89× | ||
| Q3 25 | 1.46× | 4.52× | ||
| Q2 25 | 1.29× | 2.69× | ||
| Q1 25 | 0.86× | 2.98× | ||
| Q4 24 | 1.70× | 4.23× | ||
| Q3 24 | 1.41× | 3.40× | ||
| Q2 24 | 1.10× | -0.86× | ||
| Q1 24 | 0.74× | — |
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% |
XPRO
| NLA | $130.3M | 34% |
| ESSA | $116.3M | 30% |
| MENA | $93.0M | 24% |
| Other | $42.5M | 11% |
