Full-Time
Posted on 11/23/2025
Flow measurement and control solutions
No salary listed
Centennial, CO, USA + 7 more
More locations: Phoenixville, PA, USA | Los Gatos, CA, USA | San Antonio, TX, USA | Milwaukee, WI, USA | Melbourne, FL, USA | Tulsa, OK, USA | Racine, WI, USA
Hybrid
Hybrid role: 3 days on-site per week.
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Badger Meter measures flow with electromagnetic and ultrasonic meters for liquids and gases in industries like water utilities, oil and gas, chemical, and HVAC. Its devices, together with software and services, monitor and control flow to optimize operations. The products work by using electromagnetic principles to measure conductive liquids and ultrasonic techniques to determine flow velocity; data is used to calculate volume and rate. Compared to competitors, Badger Meter combines a wide product range with global reach (serving over 100 countries) and offers integrated software and long-term service agreements, enabling customers to both measure accurately and manage operations cost-effectively. Its goal is to provide reliable, data-driven flow measurement solutions that help customers improve efficiency, manage resources, and reduce costs across utilities and industrial processes.
Company Size
501-1,000
Company Stage
IPO
Headquarters
Milwaukee, Wisconsin
Founded
1905
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Healthcare, disability and life insurance,
PTO
Leave programs
Retirement savings plans
Flexible, remote work and part-time arrangements,
Badger Meter shares rose 7.5% following a Baird upgrade to Outperform and an expanded share repurchase authorisation of $150 million through 2028. The moves come ahead of the company's first-quarter earnings release on 17 April 2026. The combination of analyst upgrade, strong SmartCover momentum, insider buying and larger buyback signals confidence from both management and external analysts. The board's decision to increase the repurchase authorisation reinforces Badger Meter's capital return framework as expectations build around SmartCover's contribution and software revenue growth. Badger Meter's narrative projects $1.1 billion revenue and $182.2 million earnings by 2028, requiring 8.5% annual revenue growth. Some analysts forecast earnings could reach approximately $193 million, though risks remain from rising costs and uneven municipal demand.
Badger Meter, a manufacturer of flow measurement and smart metering solutions for municipal water utilities, was highlighted by Conestoga Capital Advisors in its fourth-quarter 2025 investor letter as a high-quality investment opportunity. The company operates in an oligopolistic water-metering market with replacement-driven recurring revenue and strong free cash flow generation. Conestoga noted that Badger Meter's consistent execution and capital structure support its ability to compound value through economic cycles. Badger Meter reported $221 million in total sales for Q4 2025, an 8% year-over-year increase. The company has a market capitalisation of $4.66 billion. However, shares have declined 27.49% over the past year, closing at $158.20 on 18 February 2026. Twenty-eight hedge funds held positions in the company at the end of Q3 2025.
Badger Meter has faced mixed analyst action, with Argus Research downgrading the stock to Hold from Buy on 2 February, whilst Seaport Research trimmed its price target to $220 from $255 but maintained a Buy rating. Seaport analyst Scott Graham noted softer sales growth in the first half but improved visibility for a second-half pickup. The company reported fourth-quarter sales of $221 million, up 8% year-over-year, with operating profit margins improving to 19.5% from 19.1%. Gross margins expanded 180 basis points to 42.1%. Management highlighted strong demand for its cellular AMI solution and said winning the PRASA AMI project in Puerto Rico strengthened its long-term growth outlook. Badger Meter designs and manufactures flow measurement and control solutions.
Badger Meter reported fourth-quarter revenue of $220.7 million, missing analyst estimates of $232 million, whilst adjusted EPS of $1.14 fell slightly short of expectations. The company's shares declined following the results. CEO Ken Bockhorst attributed the shortfall to the timing of large advanced metering infrastructure project completions and fewer operating days in the quarter, rather than weakening demand. Management noted that growth rates will be lower in the first half of 2026 and higher in the second half due to project timing. During the earnings call, analysts focused on the PRASA project, a 1.6 million connection deployment spanning multiple years. Management also discussed SmartCover's 20%-plus historical growth rate and reaffirmed high single-digit growth targets based on the project pipeline.
Badger Meter, a US smart water infrastructure provider, serves over 50,000 utilities through its BlueEdge platform, which includes advanced metering infrastructure systems offering real-time monitoring and leak detection. The company addresses critical infrastructure challenges, as ageing water networks currently lose nearly 20% of treated water. Approximately 88% of revenue comes from its Utility Water segment, with recurring software and service revenue growing faster than hardware sales. Over the past decade, Badger Meter achieved roughly 9% revenue growth and 17% earnings growth, supported by network modernisation investments and strategic acquisitions. The company maintains competitive advantages through integrated hardware-software systems and high switching costs, whilst operating with a net cash position. However, analysts suggest the current share price of $174 exceeds a conservative entry level of $120, limiting near-term upside despite strong long-term fundamentals.