Badger Meter, Inc. — Earnings Quality Grade C
BMI · Technology
Some red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 45 days, change +8 days YoY
AR growth 33.2% exceeds revenue growth 10.9%
Revenue 10.9%, CFFO 18.5%. Cash follows revenue
Expense Quality
Inventory 5.9% vs COGS 7.5%. Normal
CapEx growth 9.4% vs revenue 10.9%. Normal
SG&A/Gross Profit = 52.0%. Normal
Gross margin 41.7%, change +1.9pp. Stable
Cash Flow Quality
CFFO/NI = 1.30. Profits backed by cash
FCF $0.2B, FCF/NI = 1.20
Accruals ratio = -4.3%. Low accruals
Insufficient data
Balance Sheet Health
Goodwill+Intangibles $0.4B = 50% of equity. Over 50%
Insufficient data
Other assets grew 68.5% vs revenue 10.9%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 123% YoY
Manipulation Score
M-Score = -2.21 (grey zone)
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25