Badger Meter, Inc. (BMI) Stock Analysis
Recovery setup
Technology · Scientific & Technical Instruments
Sell if holding. At $133.47, A.R:R is negative (-0.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: Utility Water (89.0%); Concentration risk — Supplier: single suppliers for brass castings, resins, and electronic subassemblies.
Badger Meter manufactures water metering and management solutions, with Utility Water (AMI systems, BEACON SaaS, water quality sensors) representing approximately 89% of 2025 net sales and Flow Instrumentation the remaining 11%. Products are sold to water utilities through a... Read more
Sell if holding. At $133.47, A.R:R is negative (-0.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: Utility Water (89.0%); Concentration risk — Supplier: single suppliers for brass castings, resins, and electronic subassemblies. Chart setup: Death cross but MACD improving, RSI 62. Score 4.4/10, moderate confidence.
Passes 7/9 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 37d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About Badger Meter, Inc.
About Badger Meter, Inc.
Badger Meter's Utility Water segment generated approximately 89% of 2025 net sales, covering water meters, ORION AMI radio endpoints, BEACON SaaS, and water quality sensors for utility customers; Flow Instrumentation accounted for the remaining 11%. The company spent $21.6 million on R&D in 2025, employed 2,477 people at December 31, 2025, and estimates roughly 40% of U.S. water meters have converted to AMI systems, with the majority still subject to upgrade.
Badger Meter earns revenue from hardware sales (meters, endpoints, sensors), SaaS subscriptions (BEACON), and professional services, with margins driven by mix toward radio-equipped AMI meters, ultrasonic units, and water quality monitoring versus lower-margin mechanical and manually-read products. Utility water is sold primarily through a direct salesforce with regional distributors; flow instrumentation moves through manufacturer representatives and original equipment manufacturers into water/wastewater, HVAC, and corporate sustainability applications. Competition in the utility water product line includes Sensus (Xylem Inc.), Neptune (Roper Technologies), Itron, Aclara (Hubbell), Mueller Water Products, and Kamstrup. The company relies on single suppliers for brass castings, resins, and microprocessors, and acknowledges that while alternatives are available, losing any of these suppliers could cause short-term cost increases, delivery delays, and quality control expenses. The company manufactures domestically in Milwaukee, Racine, and Tulsa, and internationally in Nogales (Mexico), Brno (Czech Republic), and Bern (Switzerland).
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Tariffs compound BMI's single-source supplier exposure: the company manufactures in Mexico and Europe, and the 10-K notes tariffs on imports from China, Mexico, Canada, and Europe could harm sales and results of operations, particularly within non-US manufacturing facilities where raw material costs for brass-based castings and electronic subassemblies are most directly affected. The cancellation or significant modification of the United States-Mexico-Canada Agreement (USMCA) could raise tariff costs and disrupt the supply chain from Nogales, Mexico, a named manufacturing location.
See also: Technology · Scientific & Technical Instruments
From Badger Meter, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-06-15Recent Developments — Badger Meter, Inc.
Latest news
- NEWS Badger Meter (BMI) Stock Drops Despite Market Gains: Important Facts to Note - MSN — MSN negative
- NEWS Analysts’ Top Technology Picks: CrowdStrike Holdings (CRWD), Badger Meter (BMI) - The Globe and Mail — The Globe and Mail positive
- NEWS Badger Meter (BMI) increases despite market slip: Here's what you need to know - MSN — MSN positive
- NEWS Stifel raises Badger Meter stock price target on growth outlook - Investing.com — Investing.com positive
- NEWS Badger Meter (BMI) Stock Slides as Market Rises: Facts to Know Before You Trade - Yahoo Finance — Yahoo Finance negative
Generated 2026-06-15T18:11:46Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductUtility Water89%10-K Item 1: 'Utility Water Product Line (approximately 89% of Net Sales in 2025)'
- HIGHSuppliersingle suppliers for brass castings, resins, and electronic subassemblies10-K Item 1: 'the Company relies on single suppliers for certain brass castings, resins and electronic subassemblies'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
3 floor-breakers
Revenue shrinking — -9.0% YoY. Growth thesis broken unless recovery story develops.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $133.47, A.R:R is negative (-0.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: Utility Water (89.0%); Concentration risk — Supplier: single suppliers for brass castings, resins, and electronic subassemblies. Chart setup: Death cross but MACD improving, RSI 62. Prior stop was $124.41. Score 4.4/10, moderate confidence.
Take-profit target: $132.47 (-0.7% upside). Prior stop was $124.41. Stop-loss: $124.41.
Concentration risk — Product: Utility Water (89.0%); Concentration risk — Supplier: single suppliers for brass castings, resins, and electronic subassemblies; Analyst target reached - limited upside remaining.
Badger Meter, Inc. trades at a P/E of 29.7 (forward 25.2). TrendMatrix value score: 4.2/10. Verdict: Sell.
17 analysts cover BMI with a consensus score of 3.8/5. Average price target: $147.
What does Badger Meter, Inc. do?Badger Meter manufactures water metering and management solutions, with Utility Water (AMI systems, BEACON SaaS, water...
Badger Meter manufactures water metering and management solutions, with Utility Water (AMI systems, BEACON SaaS, water quality sensors) representing approximately 89% of 2025 net sales and Flow Instrumentation the remaining 11%. Products are sold to water utilities through a direct salesforce and to industrial customers through distributors, with no single customer exceeding 10% of sales. The company employed 2,477 people at December 31, 2025 and relies on single suppliers for brass castings, resins, and electronic subassemblies.