TORVANTA
Other · S&P 500 · data as of 2026-10-05

BMI stock analysis: BMI

BMI (BMI) is an S&P 500 company in Other. It grades weakest on value, growth and momentum.

The model's view of BMI · subscribers

Where BMI ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

See plans
What's happening with BMI · updated 2026-10-05 · from prices and SEC filings

BMI price performance

BMI against the S&P 500, one year
-20%+0%+20%S&P 500 +18%BMI -29%2025-09-292026-10-05
Year to date-27.7%S&P 500 +14.5% · behind by 42.2 pts
1 year-30.2%S&P 500 +17.0% · behind by 47.2 pts
3 years-10.1%S&P 500 +89.3% · behind by 99.3 pts
5 years+25.3%S&P 500 +91.3% · behind by 66.0 pts

Total returns with dividends reinvested.

BMI factor grades

Each grade compares BMI with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

D+ValueP/E 29.2x (industry 20.1x)FCF yield 4.2% (industry 6.0%)
D+GrowthRevenue growth -1% (industry +8%)EPS growth -7% (industry +10%)
BProfitabilityOperating margin 18.9% (industry 9.6%)ROIC 17.9% (industry 10.1%)
DMomentum12-month change -30%From 52-wk high -33%

BMI in plain numbers

BMI key statistics

SectorOther
Industryn/a
IndexS&P 500
Market value$3.6B
Revenue growth (y/y)-1%
Free-cash-flow yield4.2%
Dividend yield1.3%
Next earnings (expected)2026-10-20
Valuation measures
Market value$3.6B
Enterprise value$3.6B
P/E (trailing)29.2x
Forward P/E (Torvanta estimate)29.2x
Price / sales4.2x
Price / book5.3x
EV / revenue4.2x
EV / EBITDA22.1x
Financial highlights
Revenue, last 12 months$867.5M
Net income, last 12 months$125.7M
EPS, last 12 months (GAAP)$4.28
Gross margin42.0%
Operating margin18.9%
Net margin14.5%
Return on equity18.5%
Return on invested capital17.9%
Free cash flow, last 12 months$150.3M
Current ratio2.42x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

BMI earnings trends

Revenue vs earnings
$0$59.5M$119.0M$178.6M$238.1MSep 2024 Revenue: $208.4MDec 2024 Revenue: $205.2MMar 2025 Revenue: $222.2MJun 2025 Revenue: $238.1MSep 2025 Revenue: $222.2MDec 2025 Revenue: $220.7MMar 2026 Revenue: $202.3MJun 2026 Revenue: $222.3MSep 2024 Net income: $32.0MDec 2024 Net income: $30.7MMar 2025 Net income: $38.4MJun 2025 Net income: $34.6MSep 2025 Net income: $35.1MDec 2025 Net income: $33.6MMar 2026 Net income: $27.3MJun 2026 Net income: $29.7MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 15.4%Net margin: 15.0%Net margin: 17.3%Net margin: 14.5%Net margin: 15.8%Net margin: 15.2%Net margin: 13.5%Net margin: 13.4%0%9%17%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.3$0.7$1.0$1.3Sep 2024 EPS (GAAP, diluted): $1.1Dec 2024 EPS (GAAP, diluted): $1.0Mar 2025 EPS (GAAP, diluted): $1.3Jun 2025 EPS (GAAP, diluted): $1.2Sep 2025 EPS (GAAP, diluted): $1.2Dec 2025 EPS (GAAP, diluted): $1.1Mar 2026 EPS (GAAP, diluted): $0.9Jun 2026 EPS (GAAP, diluted): $1.0Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +10% · Dec 2025 +10% · Mar 2026 -28% · Jun 2026 -13%

From the company's 10-Q and 10-K filings with the SEC.

BMI financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$505.2M$565.6M$703.6M$826.6M$903.2M
Net income$60.9M$66.5M$92.6M$124.9M$141.6M
EPS (GAAP)$2.08$2.27$3.14$4.23$4.80
Free cash flow$77.9M$76.6M$98.1M$142.2M$169.7M

BMI earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-22$1.02-13%-7%-14.2%
2026-04-17$0.93-28%-9%-26.5%
2026-01-28$1.14+10%+8%-11.9%
2025-10-21$1.19+10%+7%-2.1%
2025-07-22$1.17+4%+10%-22.6%
2025-04-17$1.30+31%+13%+10.9%

About BMI

HeadquartersMilwaukee, WI
Industry (SEC code)Totalizing Fluid Meters & Counting Devices
Fiscal year endsDecember 31
Incorporated inWI
Listed onNYSE
FormerlyBADGER METER INC

From the company's SEC registration record.

Companies similar to BMI

CompanyMarket valueP/ERevenue growthOperating margin12-month change
BMI BMI$3.6B29.2x-1%18.9%-30%
WSBC WSBC$3.6B10.9xn/an/a+20%compare
RNST RNST$3.6B11.7xn/an/a+10%compare
GNW GNW$3.6B18.1x+2%n/a+7%compare
BANF BANF$3.6B14.5xn/an/a-13%
QTWO QTWO$3.6B41.6x+14%10.0%-14%
NHC NHC$3.6B25.9x+7%9.3%+93%

All Other stock ratings

Frequently asked questions

Is BMI stock a buy?

Torvanta does not tell individuals what to buy. Its grades for BMI are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is BMI's P/E ratio?

BMI trades at about 29.2 times its last 12 months of GAAP earnings reported to the SEC, and about 29.2 times Torvanta's own estimate of the next 12 months.

When does BMI report earnings next?

Based on its filing history, Torvanta expects BMI to report around 2026-10-20.

Does BMI pay a dividend?

Yes. Its dividend yield is about 1.3%, and it has raised its dividend 21 years in a row.

How has BMI performed against the S&P 500?

Over the past year BMI returned -30.2%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

See plans Or get the free weekly newsletter

Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

All stock ratings · Stock lists · AI stock research · Model portfolio · Research · Disclaimer