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BADGER METER INC（BMI）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
BADGER METER INC的季度营收约是Ribbon Communications Inc.的1.4倍（$234.1M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs 14.3%，领先40.4%），BADGER METER INC同比增速更快（14.1% vs -10.3%），过去两年BADGER METER INC的营收复合增速更高（9.2% vs -8.1%）
Badger Meter Inc是全球领先的流量测量与控制解决方案供应商，主要服务水务企业、工业、商业及住宅客户群体，核心产品包括智能水表、物联网使用监测系统及配套软件，可帮助客户追踪资源消耗、减少浪费、提升运营效率，核心市场覆盖北美、欧洲及亚太地区。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
BMI vs RBBN — 直观对比
营收规模更大
BMI
是对方的1.4倍
$162.6M
营收增速更快
BMI
高出24.4%
-10.3%
净利率更高
RBBN
高出40.4%
14.3%
两年增速更快
BMI
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $234.1M | $162.6M |
| 净利润 | $33.6M | $89.1M |
| 毛利率 | 39.7% | 42.9% |
| 营业利润率 | 18.4% | 37.6% |
| 净利率 | 14.3% | 54.8% |
| 营收同比 | 14.1% | -10.3% |
| 净利润同比 | 9.3% | — |
| 每股收益（稀释后） | $1.13 | $0.50 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BMIRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $234.1M | $227.3M | ||
| Q3 25 | $222.2M | $215.4M | ||
| Q2 25 | $238.1M | $220.6M | ||
| Q1 25 | $222.2M | $181.3M | ||
| Q4 24 | $205.2M | $251.4M | ||
| Q3 24 | $208.4M | $210.2M | ||
| Q2 24 | $216.7M | $192.6M |
净利润BMIRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $33.6M | — | ||
| Q3 25 | $35.1M | $-12.1M | ||
| Q2 25 | $34.6M | $-11.1M | ||
| Q1 25 | $38.4M | $-26.2M | ||
| Q4 24 | $30.7M | — | ||
| Q3 24 | $32.0M | $-13.4M | ||
| Q2 24 | $33.1M | $-16.8M |
毛利率BMIRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | 39.7% | 53.3% | ||
| Q3 25 | 43.1% | 50.1% | ||
| Q2 25 | 41.1% | 49.6% | ||
| Q1 25 | 42.9% | 45.4% | ||
| Q4 24 | 40.3% | 55.7% | ||
| Q3 24 | 40.2% | 52.1% | ||
| Q2 24 | 39.4% | 50.8% |
营业利润率BMIRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | 18.4% | 4.1% | ||
| Q3 25 | 20.7% | 1.3% | ||
| Q2 25 | 18.8% | 1.9% | ||
| Q1 25 | 22.2% | -10.8% | ||
| Q4 24 | 19.1% | 13.2% | ||
| Q3 24 | 19.5% | -0.4% | ||
| Q2 24 | 19.2% | -1.0% |
净利率BMIRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 14.3% | — | ||
| Q3 25 | 15.8% | -5.6% | ||
| Q2 25 | 14.5% | -5.0% | ||
| Q1 25 | 17.3% | -14.5% | ||
| Q4 24 | 15.0% | — | ||
| Q3 24 | 15.4% | -6.4% | ||
| Q2 24 | 15.3% | -8.7% |
每股收益（稀释后）BMIRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $1.13 | $0.50 | ||
| Q3 25 | $1.19 | $-0.07 | ||
| Q2 25 | $1.17 | $-0.06 | ||
| Q1 25 | $1.30 | $-0.15 | ||
| Q4 24 | $1.04 | $0.05 | ||
| Q3 24 | $1.08 | $-0.08 | ||
| Q2 24 | $1.12 | $-0.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $67.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $713.3M | $419.1M |
| 总资产 | $973.6M | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BMIRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | — | $96.4M | ||
| Q3 25 | — | $74.8M | ||
| Q2 25 | — | $60.5M | ||
| Q1 25 | — | $71.2M | ||
| Q4 24 | — | $87.8M | ||
| Q3 24 | — | $37.2M | ||
| Q2 24 | — | $64.6M |
总债务BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
股东权益BMIRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $713.3M | $449.0M | ||
| Q3 25 | $702.5M | $360.1M | ||
| Q2 25 | $677.6M | $370.4M | ||
| Q1 25 | $641.7M | $381.8M | ||
| Q4 24 | $606.2M | $404.6M | ||
| Q3 24 | $591.2M | $395.5M | ||
| Q2 24 | $563.1M | $405.0M |
总资产BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | $973.6M | $1.2B | ||
| Q3 25 | $978.3M | $1.1B | ||
| Q2 25 | $936.4M | $1.1B | ||
| Q1 25 | $899.6M | $1.1B | ||
| Q4 24 | $816.4M | $1.2B | ||
| Q3 24 | $802.9M | $1.1B | ||
| Q2 24 | $781.3M | $1.1B |
负债/权益比BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $54.8M | — |
| 自由现金流经营现金流 - 资本支出 | $50.8M | — |
| 自由现金流率自由现金流/营收 | 21.7% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 1.63× | — |
| 过去12个月自由现金流最近4个季度 | $169.7M | — |
8季度趋势，按日历期对齐
经营现金流BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | $54.8M | $29.2M | ||
| Q3 25 | $51.3M | $26.5M | ||
| Q2 25 | $44.6M | $-795.0K | ||
| Q1 25 | $33.0M | $-3.5M | ||
| Q4 24 | $52.1M | $61.8M | ||
| Q3 24 | $45.1M | $-14.8M | ||
| Q2 24 | $36.4M | $-9.8M |
自由现金流BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $27.3M | ||
| Q3 25 | $48.2M | $21.0M | ||
| Q2 25 | $40.6M | $-6.5M | ||
| Q1 25 | $30.1M | $-15.7M | ||
| Q4 24 | $47.4M | $53.8M | ||
| Q3 24 | $42.0M | $-23.7M | ||
| Q2 24 | $34.1M | $-12.9M |
自由现金流率BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 12.0% | ||
| Q3 25 | 21.7% | 9.7% | ||
| Q2 25 | 17.1% | -2.9% | ||
| Q1 25 | 13.5% | -8.7% | ||
| Q4 24 | 23.1% | 21.4% | ||
| Q3 24 | 20.1% | -11.3% | ||
| Q2 24 | 15.7% | -6.7% |
资本支出强度BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 0.9% | ||
| Q3 25 | 1.4% | 2.6% | ||
| Q2 25 | 1.7% | 2.6% | ||
| Q1 25 | 1.3% | 6.7% | ||
| Q4 24 | 2.3% | 3.2% | ||
| Q3 24 | 1.5% | 4.2% | ||
| Q2 24 | 1.1% | 1.6% |
现金转化率BMIRBBN
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.10× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
