BADGER METER INC

For the period ended Dec 31, 2025. Filed Feb 17, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 17, 2026

BMI$159.18+0.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Balance Sheets

	December 31,
	2025	2024
(In thousands)
Assets
Current assets:
Cash and cash equivalents	$226,016	$295,305
Receivables, net of allowance for doubtful accounts	112,356	84,325
Inventories:
Finished goods	23,087	24,022
Work in process	29,244	36,705
Raw materials	99,604	82,681
Total inventories	151,935	143,408
Prepaid expenses and other current assets	16,770	17,078
Total current assets	507,077	540,116
Property, plant and equipment, at cost
Land and improvements	9,544	9,237
Building and improvements	74,956	71,526
Machinery and equipment	163,950	152,440
	248,450	233,203
Less accumulated depreciation	(168,814)	(158,943)
Net property, plant and equipment	79,636	74,260
Intangible assets, at cost less accumulated amortization	118,496	45,066
Other assets	18,653	12,676
Deferred income taxes	14,140	32,525
Goodwill	235,575	111,770
Total assets	$973,577	$816,413
Liabilities and Shareholders’ equity
Current liabilities:
Payables	$72,299	$55,659
Accrued compensation and employee benefits	37,619	34,912
Warranty and after-sale costs, current	8,466	7,283
Other current liabilities	32,332	20,351
Total current liabilities	150,716	118,205
Long-term deferred revenue	72,771	64,153
Deferred income taxes	3,477	3,652
Accrued non-pension postretirement benefits	2,499	3,033
Other accrued employee benefits	6,658	6,927
Warranty and after-sale costs, long-term	13,108	9,410
Other long-term liabilities	11,054	4,801
Commitments and contingencies (Note 6)
Total long-term liabilities	109,567	91,976
Shareholders’ equity:
Common stock, $1 par, authorized 80,000,000 shares, issued 37,221,098 shares in 2025 and 2024	37,221	37,221
Capital in excess of par value	75,290	65,819
Reinvested earnings	645,876	547,796
Accumulated other comprehensive income (loss)	6,474	(7,906)
Less: Treasury stock, at cost, 7,834,360 shares in 2025 and
7,810,158 shares in 2024	(51,567)	(36,698)
Total shareholders’ equity	713,294	606,232
Total liabilities and shareholders’ equity	$973,577	$816,413

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.